Demystifying the 4Ps in Singapore SMEs : does the government hold the key to open innovation?

Bali, Azad and McKiernan, Peter and Waring, Peter and Vas, Christopher (2016) Demystifying the 4Ps in Singapore SMEs : does the government hold the key to open innovation? In: 3rd Annual World Open Innovation Conference, 2016-12-15 - 2016-12-16, ESADE.

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Abstract

Open Innovation (OI) should be the saviour of Singapore’s Small to Medium Enterprises (SME). Relative to other South East Asian nations over the last decade, they have suffered from declining productivity levels that have prompted the Singaporean Government to intervene with a plethora of rectifying initiatives. The Singapore Government through its policy levers offers generous financial incentives in the hope to foster a culture of innovation amongst SMEs to boost productivity, create value and contribute to economic growth. However, this assumption is predicated on certain firm—level attributes being exhibited. Consequently, in this paper two key research questions for Singapore SMEs are studied reflecting on firm level attributes - people, platforms, power, processes (4Ps) - and understanding how SMEs respond to government policies within the OI ecosystem. To answer these questions, a benchmarking study of a representative sample of SMEs from the manufacturing sector in Singapore is carried out. Firm level practices relating to technology adoption, innovation culture and firms responses to government policies are extracted and analysed.

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