Innovation among Small and Medium Enterprises (SMEs) in the Volta Region: the role of Tacit Knowledge

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The purpose of this research is to examine the role of tacit knowledge in innovation among SMEs. Compared to available research material on explicit knowledge, the role of tacit knowledge in innovation within SMEs is relatively unexplored. Through literature review and the use of interviews, the role of tacit knowledge in innovation of SMEs is analyzed. The findings reveal that tacit knowledge use in the SME innovation begins with the discussion to embark on the product, knowledge acquisition, training processes, how new products are introduced, documentation of innovative processes and protection of new ideas. The study discovered that tacit knowledge has a crucial influence on innovation among SMEs and plays a vital role as a company resource and success factor. Based on the findings, recommendations have been made which when implemented will enhance the use of tacit knowledge in SME innovation.
A Thesis submitted to the Institute of Distance Learning, Kwame Nkrumah University of Science and Technology in partial fulfillment of the requirements for the degree of Commonwealth Executive Masters in Business Administration.