The Specialized, Refined, Specialized, and Innovative Model: Fostering Innovation in China's Small and Medium-Sized Enterprises
Keywords:
SRSI, Innovation, Specialization, SMEs, Competitiveness, EnterpriseAbstract
The Specialized, Refined, Specialized, and Innovative (SRSI) model is to improve the innovation and competitiveness of China's small and medium-sized enterprises (SMEs). This paper systematically reviews the research in recent years in China on SRSI model and the relevant innovation of SMEs. As found, by providing better management, more unique products, and continuous innovation, the SRSI model helps SMEs to establish their strengths in niche markets. It is based on four dimensions, including specialization, refinement, uniqueness and innovation. Overall, the SRSI model fits perfectly into China’s own economic transformation from low-cost manufacturing toward high-quality growth and technological self-sufficiency. This paper also provided strategies for successful implementation of that model at the end.
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