Identification of the main Innovation Management Techniques (IMTS) aiming the Improvement of Firm Competitiveness by Means of Knowledge Management

Abstract

One of the main differentiating factors among businesses nowadays, according to open innovation, is their capacity to take in information from outside sources. very small enterprises (VSEs) approaches to and management of innovation, however, have received less consideration. Actually, the majority of VSEs lack the competence to independently execute innovation. Methodological approaches to knowledge management that seek to increase businesses' competitiveness are known as innovation management techniques (IMTs). In this study, we create, test, and assess a novel IMT-indented approach for VSEs in underdeveloped locations, like India's Chhattisgarh. According to the outcomes of the pilot IMT application, the entrepreneurs had a favorable reaction. The results of this research provide credence to the idea that, regardless of a company's size, innovation implementation is directly correlated with its inventive people resource.