Board-driven innovation in SMEs

Important results from the project

The project has developed research-based knowledge base that provides increased understanding and better insight into innovation-promoting boards in small and medium-sized enterprises. The results have been compiled and disseminated through scientific publications, as well as by presentations at conferences and workshops. In all, the results contribute to theoretical insights and actionable knowledge that provide practical guidance for how innovation-promoting board work can be developed and supported in small and medium-sized enterprises.

Expected long term effects

The results show that innovation-promoting board work is not essentially different from ordinary board work. However, innovation-promoting board work implies that the board places particular emphasis on building on and using the potential in board members’ experiences as input into the company´s strategy. The chairperson of the board plays a central role in organizing the board’s work in a balanced way. In this way, innovation-promoting board work can be seen as an extension of active, well-functioning board work in small and medium-sized enterprises.

Approach and implementation

A systematic review of the literature has been carried out focused on state-of-the-art literature and research on corporate governance and boards of directors in relation to entrepreneurship and innovation driven growth. In addition, a number of case studies have been conducted on a Swedish SMEs, to systematize and document established practices regarding innovation-promoting board work. These complementary activities have led to a knowledge base and a theoretically based model that provides guidelines for innovation-promoting board work in SMEs.