Assessing awareness and innovation challenges in SMEs: a case study in the Geoscience Sector

Innovation has become a topic of strong focus for different companies and institutions around the globe as the innovation capacity, or the lack of, can substantially influence the firm’s position against its competitors and ultimately the survival of the business. In this context, a SME in the geoscience sector has embarked in the plan for increasing its innovation capacity. Nonetheless, different challenges are always present, including internal and external barriers. Therefore, the current study conducted a survey on 6 targeted groups (Directors, Managers, Business Support, Laboratories, Analysts, New Ventures & Business Development) to identify different trends in how innovation is perceived internally and what are the main concerns when it comes to implementing innovation. The survey was conducted focusing on 3 different segments: awareness of innovation, challenges and risks, and support and engagement. The data obtained revealed that the main limitations are related to financial and budgetary restrictions but also highlights challenges such as time allocation and company culture. The obtained information reflects what is typically reported in the literature as the main challenges SMEs face when implementing innovation. The results suggest that the company is heading in the right direction and could strengthen its position with the implementation additional processes and recommendations. Amongst those, this study provides different recommendations to help strengthen the innovation capacity within the company, including crowdsourcing campaigns, open innovation, informative digital boards for announcement and the implementation of the ISO 56000 series for innovation management.

Name dc:type.qualificationname

msc

Level dc:type.qualificationlevel

masters

Grantor dc:publisher.institution

University of Wales Trinity Saint David

Year dc:date.issued

2024

Author dc:creator

• Mantilla-Duran, Fernando

• HD28 Rheoli. Rheoli Diwydiannol
• Q Gwyddoniaeth (Cyffredinol)

Dc Identifier Grantnumber

UWTSD

OAI identifier oai:identifier

oai:repository.uwtsd.ac.uk:3014