Volume V Issue II April-June 2025

Name of Author : Prof. Chaugule Sharif Mahemud

Title of the paper : Integrating Open Innovation Practices into Small and Medium Enterprises Challenges and Opportunities in the Digital Age

Abstract: Purpose Open Innovation OI has emerged as a pivotal strategy for Small and Medium sized Enterprises SMEs seeking to enhance their competitive advantage, foster growth, and adapt to dynamic market conditions. Methodology This research paper with the help of secondary data sources, examines the antecedents, processes, benefits, and challenges associated with the adoption of OI in SMEs, drawing on review of recent relevant literature. Findings It provides an in depth analysis of how OI can be integrated into SME strategies, highlighting case studies, best practices, and actionable recommendations. Implications By leveraging OI, SMEs can overcome resource limitations, drive innovative outcomes, and ensure sustainable development in an increasingly interconnected global economy. Originality This research article focuses on how the SMEs can effectively adopt OI, analysing the interplay between internal capabilities and external networks. By putting special focus on the role of digital transformation, government policies, and emerging technologies in facilitating OI, by highlighting how SMEs can navigate global challenges of sustainability and technological disruption through strategic innovation partnerships. This is an original work of author and all the references are duly cited.

Keywords : Open Innovation, SMEs, Competitive Advantage, Sustainability, Digital Transformation, Internal Innovation Processes, External Knowledge Source

DOI :

Page Number : 49-55