Innovative small and medium-sized enterprises (ISMEs) are not scaled-down versions of large, listed companies. They differ fundamentally in their position in and contribution to the economy and society. It’s thus unlikely that the corporate legal structures, governance and management models for large companies are suitable for ISMEs. To improve the EU’s competitiveness, it’s essential to help ISMEs escape these straightjackets. A new perspective is needed, based on existing EU competitive advantages that hitherto have not been recognised as such or need to be dusted off.
This contribution outlines seven principles to help increase innovation. These are deeply rooted in European law and the European way of doing business. By applying them to the governance and management of ISMEs, such firms can make an even greater contribution to European competitiveness in the years ahead.
About the author:
Donald Kalff spent most of his professional life as a manager with Royal Dutch Shell and as a member of the Executive Board of KLM, Royal Dutch Airlines. He is a former Senior Fellow of the Wharton School. He is the author of two books and numerous articles on the governance and management of large enterprises. His work has been published in English, French, German, Russian and Dutch. In 2019, he coauthored a book with Andrea Renda on the competitiveness of Europe: “Hidden Treasures: Mapping Europe’s Sources of Competitive Advantage in Doing Business” (published by CEPS).
Source link : https://www.pubaffairsbruxelles.eu/opinion-analysis/turbocharging-europes-innovative-smes/
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Publish date : 2024-10-04 10:53:00
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