Title: Exploring the role of technological developments and open innovation in the survival of SMEs: an empirical study of Pakistan

Authors: Masood Ul Hassan; Zeeshan Iqbal; Maimoona Malik; Muhammad Iftkhar Ahmad

Addresses: Department of Commerce, Bahauddin Zakariya University, Multan, Pakistan ' Department of Commerce, Bahauddin Zakariya University, Multan, Pakistan ' Department of Commerce, Bahauddin Zakariya University, Multan, Pakistan ' Department of Business Administration, University of Sargodha, Pakistan

Abstract: Small and medium enterprises (SMEs) play an important role in terms of sustainable economic development. Therefore, the survival of this sector is highly important for every economy. This study theoretically and empirically explores the role of technological developments and open innovation (OI) on SME survival. The first part of this paper is based on library search and available literature on SMEs and the role technological innovations towards the flourishment of SME. Findings from this review shed some lights on the potential of social networking as part of online marketing. Furthermore, the researchers conducted a self-administrated questionnaire-based survey to empirically examine the conceptual framework. The empirical results revealed that the effect of online marketing via social media is more powerful and diverse due to its ability to reach more customers. In addition, open innovation is an effective and emerging tool in the success of SME.

Keywords: technological developments; open innovation; small and medium enterprises; SMEs; SMEs survival; Pakistan.

DOI: 10.1504/IJBFMI.2018.088629

International Journal of Business Forecasting and Marketing Intelligence, 2018 Vol.4 No.1, pp.64 - 85

Received: 10 May 2017
Accepted: 22 Jul 2017
Published online: 13 Dec 2017 *

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