Abstract:
The primary aim of this study is to demonstrate the role of innovative strategies as an important element of SMEs performance and long-run development. A secondary purpose of the research is to identify the best practices of innovative strategies used by European SMEs, which could be adapted by local SMEs from Republic of Moldova.
In order to meet the goal of the research an analysis of secondary data resources has been carried out, using scientific methods, in particular logical methods, such as comparative analysis, synthesis, induction and deduction. International comparisons used statistical survey CIS, provided by EUROSTAT and designed for monitoring the progress on innovation activities in SMEs sector. The current study has been drawn up, using the official data offered by the National Bureau of Statistics (NBS), Organization for Small and Medium-Sized Enterprises Sector Development (ODIMM), the Ministry of Economy from Republic of Moldova, the most recent data and references in this field of research and own reflections of the authors.
As a result, of the made analyses we state that SMEs as o social economic phenomenon has not become yet a key link in the development of the national economy. This conclusion is based on the fact that the largest share of SMEs sector from Moldova is still in the wholesale and retail trade. The innovation capacity of SMEs in the Republic of Moldova is low, as a result of lack of public funds to innovate. Development of innovative small business companies involves comprehensive solutions. The future prospects for encouraging SMEs in Moldova in accordance with the best European practices are as follows: development of innovation infrastructure; supporting public-private partnerships in research; adopting the framework on innovation and venture funds. Small business from Moldova also, miss new business practices for organizing procedures (supply chain management, business re-engineering, knowledge management, quality management), thus limiting the development of organization innovative enterprises.
The majority of the studies concerning SMEs, analyses the small business sector as a whole, without pointing out the huge potential that small business companies that applies innovation strategies have. This study reveals the importance of innovative strategies for SMEs, such as the innovation of products and /or processes of the enterprise, implementing significant changes to the design or packaging of a good or service, a new media or techniques for product promotion, new methods for product placement or sales channels and introduction of innovations in logistics for developing and improving the performance of SMEs. From the best practices of European SMEs, innovative strategies may become an effective tool in the creation of competitive advantage of national SMEs and the key success for their development.
