Strategic management of technological innovations in the small to medium enterprise

This paper addresses the problems inherent in identifying technological innovations that can improve company competitiveness with the ultimate aim of increasing the value of a specific enterprise. A model is proposed that, starting with the competitive weight of a technological innovation to processes or products, yields a strategic weight that enables decision makers to evaluate the increase in business value consequent on application of such innovation. The proposed model is composed of four sub‐models: the first is an analysis of process/product competitiveness aimed at identifying competitive priorities and therefore appropriate technologies; the second sub‐model identifies the priorities of technological intervention from amongst the competitive technologies selected; the third sub‐model correlates the two previous sub‐models and thereby expresses a “strategic weight” of the technological projects with respect to the competitive priorities of the processes or products; the fourth and last sub‐model applies scenario simulation and sustainable growth verification to estimate the impact of strategic project innovations in terms of increased business value.