Enhancing Product Market Payoff in Small and Medium Internet-Based Firms: A Survey-Based Analysis of Innovation and Competition Factors

Nabil Bakar, Mahady Hasan, M. Rokonuzzaman

2023

Abstract

This paper aims to explore the relationship between innovation and competition and identify the conditions that affect the industry’s innovation and welfare. The authors analyze various factors, including the properties of product market payoffs, to determine whether competition increases or decreases industry innovation. The ultimate goal of this study is to provide policy recommendations that support innovation and competition.To achieve this objective, the authors conducted a survey to collect responses from industry professionals and identify the challenges that hinder innovation and competition. They examined several models and case studies,to understand how competition drives innovation. Despite the challenges, leading business consultants found that increased competition leads to higher productivity in various industries, including manufacturing and services.The study’s findings reveal that the recommended policy effectively overcomes the challenges related to innovation and competition sustainability. These findings have practical implications for regulatory organizations, highlighting the importance of adopting these policies to ensure innovation and competition for small and medium-sized internet-based firms.This paper presents a thorough examination of the correlation between innovation and competition, outlines the key elements that foster both innovation and competition, and suggests policy measures to bolster innovation and competition while improving product market outcomes.

Paper Citation

in Harvard Style

Bakar N., Hasan M. and Rokonuzzaman M. (2023). Enhancing Product Market Payoff in Small and Medium Internet-Based Firms: A Survey-Based Analysis of Innovation and Competition Factors. In Proceedings of the 20th International Conference on Smart Business Technologies - Volume 1: ICSBT; ISBN 978-989-758-667-5, SciTePress, pages 154-161. DOI: 10.5220/0012096600003552

in Bibtex Style

@conference{icsbt23,
author={Nabil Bakar and Mahady Hasan and M. Rokonuzzaman},
title={Enhancing Product Market Payoff in Small and Medium Internet-Based Firms: A Survey-Based Analysis of Innovation and Competition Factors},
booktitle={Proceedings of the 20th International Conference on Smart Business Technologies - Volume 1: ICSBT},
year={2023},
pages={154-161},
publisher={SciTePress},
organization={INSTICC},
doi={10.5220/0012096600003552},
isbn={978-989-758-667-5},
}

in EndNote Style

TY - CONF

JO - Proceedings of the 20th International Conference on Smart Business Technologies - Volume 1: ICSBT
TI - Enhancing Product Market Payoff in Small and Medium Internet-Based Firms: A Survey-Based Analysis of Innovation and Competition Factors
SN - 978-989-758-667-5
AU - Bakar N.
AU - Hasan M.
AU - Rokonuzzaman M.
PY - 2023
SP - 154
EP - 161
DO - 10.5220/0012096600003552
PB - SciTePress