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THE INNOVATION CAPABILITY OF SMALL BUSINESS: A STUDY FOCUSED ON FOOD AND BEVERAGE SMES IN THE TOURISM INDUSTRY-AN ANALYSIS OF ECUADOR

Abstract:

Innovation is an important factor for the future performance of companies. This article analyzes the relationship between leadership, strategy, marketing, processes, and external factors on the capacity for innovation. Findings from a structural equation model of 137 micro and Ecuadorian food and beverage small and medium-sized enterprises (SMEs) showed that leadership, strategy, processes, and marketing significantly influence firms' innovation. We also found that external factors influence innovation and that variable leadership does not have a significant relationship with strategy; however, processes and strategy are related. We discuss the possible implications of this study for SMEs.