ISSN 2394-5125
 

Research Article 


MSMEís USING INNOVATION AND COMPETITIVENESS TO STAND IN THE COMPETITIVE WORLD

Akanksha Kaushik.

Abstract
The MSMEs play a vital role because of their significant contribution in development of Indian
economy. MSMEs includes more than 80% of the total number of industries in India and support in itís
industrial development. Role of MSMEs in tgenerating employment, distribution of income at all the levels in
the society and increase in exports is appreciable. A secondary research study on MSMEs in India was done by
collecting information through various journals, newspapers, reports, magazines, etc to see the effect of
innovation and competitiveness on the output of MSMEs in India in the present scenario. This study is
descriptive in nature and reveals that performance of MSMEs is greatly influenced by adopting innovation as a
major tool in improving performance by increasing the level of output, better quality of products and exploring
new markets. Researchers found that major problems on the road of MSMEs are in the form of competition from
large enterprises and globalization, absence of adequate and timely loan facilities, unable to access technology
and lack of availability of skilled personnel. All these problems need to be tackled with a motive to use the full
potential of this sector towards the social and economic development of the country. Adopting new technologies
for production, marketing and customer satisfaction may help MSMEs in improving the performance to a large
extent. There is an urgent need for MSMEs to innovate by thinking out-of-the-box and develop differentiated
products. But the lack of resources available to these Enterprises is the major hindrance in their overall
development.

Key words: Competition, MSMEís, Innovation


 
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Pubmed Style

Akanksha Kaushik. MSMEís USING INNOVATION AND COMPETITIVENESS TO STAND IN THE COMPETITIVE WORLD. JCR. 2020; 7(16): 1246-1252. doi:10.31838/jcr.07.16.156


Web Style

Akanksha Kaushik. MSMEís USING INNOVATION AND COMPETITIVENESS TO STAND IN THE COMPETITIVE WORLD. http://www.jcreview.com/?mno=5062 [Access: June 02, 2021]. doi:10.31838/jcr.07.16.156


AMA (American Medical Association) Style

Akanksha Kaushik. MSMEís USING INNOVATION AND COMPETITIVENESS TO STAND IN THE COMPETITIVE WORLD. JCR. 2020; 7(16): 1246-1252. doi:10.31838/jcr.07.16.156



Vancouver/ICMJE Style

Akanksha Kaushik. MSMEís USING INNOVATION AND COMPETITIVENESS TO STAND IN THE COMPETITIVE WORLD. JCR. (2020), [cited June 02, 2021]; 7(16): 1246-1252. doi:10.31838/jcr.07.16.156



Harvard Style

Akanksha Kaushik (2020) MSMEís USING INNOVATION AND COMPETITIVENESS TO STAND IN THE COMPETITIVE WORLD. JCR, 7 (16), 1246-1252. doi:10.31838/jcr.07.16.156



Turabian Style

Akanksha Kaushik. 2020. MSMEís USING INNOVATION AND COMPETITIVENESS TO STAND IN THE COMPETITIVE WORLD. Journal of Critical Reviews, 7 (16), 1246-1252. doi:10.31838/jcr.07.16.156



Chicago Style

Akanksha Kaushik. "MSMEís USING INNOVATION AND COMPETITIVENESS TO STAND IN THE COMPETITIVE WORLD." Journal of Critical Reviews 7 (2020), 1246-1252. doi:10.31838/jcr.07.16.156



MLA (The Modern Language Association) Style

Akanksha Kaushik. "MSMEís USING INNOVATION AND COMPETITIVENESS TO STAND IN THE COMPETITIVE WORLD." Journal of Critical Reviews 7.16 (2020), 1246-1252. Print. doi:10.31838/jcr.07.16.156



APA (American Psychological Association) Style

Akanksha Kaushik (2020) MSMEís USING INNOVATION AND COMPETITIVENESS TO STAND IN THE COMPETITIVE WORLD. Journal of Critical Reviews, 7 (16), 1246-1252. doi:10.31838/jcr.07.16.156