I. J. of Business & Management Research
Research Article | 
The Benefits of Innovation for Small Businesses
Author(s) : Dr. Desire S. Luamba1, Dr. Marvin L.J. Blye2, Dr. Ir. Edouard M. Mwema3, Dr. Irene A. Williams4, Dr. Kevin James5, and Dr. Joel Chagadama6
Publisher : FOREX Publication
Published : 10 November 2021
e-ISSN : 2347-4696
Page(s) : 425-432
Abstract
The purpose of this qualitative multiple case study was to explore strategic managerial tools small business owners or managers use to sustain growth over time through Schumpeter’s innovation theory. Five small business owners located in North America were interviewed through face-to-face open-ended interview questions. The results from data analysis collected through interview responses indicated that small business owners or managers attested that their businesses were developed when using innovation as a strategic managerial tool. By contrast, small business owners or managers agreed that the lack of using innovation and understanding the reality of the current business context had an adverse impact on business growth. The findings of this study may also provide small business leaders or managers with critical information to ensure success and better understand strategies small businesses need for long-term growth.
Keywords: Innovation theory, business growth, small business owners
Dr. Desire S. Luamba , Adjunct Faculty of Strategic Finance, Trevecca Nazarene University, Nashville, TN, USA ; Email: luambade@gmail.com
Dr. Marvin L.J. Blye , Chief of Fiscal Services, Department of Transportation-Conduits, City of Baltimore, Maryland, USA
Dr. Ir. Edouard M. Mwema , Professor Faculty of Polytechnic, University of Lubumbashi, D.R. of Congo
Dr. Irene A. Williams , Senior Contributing Faculty Programs, College of Management and Technology, Walden University, USA
Dr. Kevin James , Subcontracts Manager, L3Harris Technologies Inc., Palm Bay, Florida, USA
Dr. Joel Chagadama , Chief Executive Officer, Star Light Consulting LLC, Manassas, Virginia, USA
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Dr. Desire S. Luamba, Dr. Marvin L.J. Blye, Dr. Ir. Edouard M. Mwema, Dr. Irene A. Williams, Dr. Kevin James, and Dr. Joel Chagadama (2021), The Benefits of Innovation for Small Businesses. IJBMR 9(4), 425-432. DOI: 10.37391/IJBMR.090405.