Investigations on the practical feasibility of a model for enhancing technological innovation in micro small and medium sized steel manufacturing companies

Abstract

During the past few decades, all organisations worldwide have been facing intense competition in a globalised environment. The entrepreneurs who can imbibe the competitive strategies and practices in their organisations are able to thrive in this environment. However, many small and medium scale manufacturing sectors are yet to move in this direction. One among them is the steel manufacturing organisation. Small and Medium Enterprises (SMEs) are contributing largely for the development of economy. They can create more employment with relatively small investments. They are more flexible than their large sized counterparts. But there are certain limitations for SME sector. The technological advancement is relatively low for SMEs. In the globalization era, SMEs and large sized enterprises are advancing together so that both of them are benefited. However, SMEs have to compete with the large sized organisations in some situations. Hence there should be a focus of acquiring competitive strength. newline