The impact of best practice and innovation on performance in Malaysian SMEs
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Date
2006
Authors
Arumugam, S.
Gurd, B.W.
Editors
Milia, J.
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Conference paper
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Proceedings of the 20th annual Australian and New Zealand Academy of Management conference: management: pragmatism, philosophy, priorities, 2006 / Milia, J. (ed./s), pp.1-17
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20th Australian and New Zealand Academy of Management Conference (6 Dec 2006 : Queensland, Australia)
Abstract
Two key variables that impact on business performance - innovation and best practice have been studied separately by researchers. Sila and Ebrahimpour (2005), amongst others, demonstrate the impact of some best practices on business performance. Prajogo and Sohal (2003) attempted to find a link between best practice and innovation. Covin and Slevin (1989) explored the link between innovation and performance in small business. This paper is the first paper to examine links between all three variables in the same study. It demonstrates that both innovation and best practice drive performance. A contribution of this paper is to further the study of these variables in SMEs in a rapidly developing country in an extension of the previous work on small businesses by Anderson and Sohal (1999) amongst others. SMEs are a critical driver of innovation and growth in most economies. This study is based in Malaysia — a developing economy that looksfor growth and innovation from this sector. The conclusion is that SMEs that focus onimplementing best practice and innovation will be higher performers and sustain economicgrowth.
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Copyright 2006 The Authors