Innovation as a competitive strategy in the food and drink smes of Cartagena

Abstract

This document shows the results of a study on the importance of innovation in economic growth and as a determinant of the competitiveness levels of small and medium-sized enterprises (SMEs) in the food and beverage sector in the city of Cartagena. In their development, the various internal and external factors of the phenomenon were examined in order to gain an overall perspective of the advances of these companies in terms of innovation in order to face their competitors in the market. In this sense, the research analyzed innovation as a competitive strategy of SMEs in the food and beverage sector of the city of Cartagena, this being a relevant factor in competitiveness, since it seeks to generate internal and external capacities to enhance their processes as innovative and value-processing companies, and thus guide their efforts to continuously improve and renew their products and processes in order to compete in the markets. The methodology used was of a descriptive type of cross-section, the analysis of the data was used a statistical model of main components and a correlation analysis of internal and external factors related to innovation processes of companies. Finally, it is concluded that SMEs must steer efforts towards process innovation in order to gain competitiveness gains and be sustainable in markets.