Strategic innovation and entrepreneurial ownership: an analysis using GEM data and fuzzy simulation

Abstract

PurposeThis paper aims to study entrepreneurial ownership and technological input on product innovation globally and in the Indian context. The data used in this study is collected from the Global Entrepreneurship Monitor (GEM).Design/methodology/approachThe study evaluates strategic innovation and entrepreneurial ownership in global and country-level data. The study was extracted from global and country-level data by the GEM. One of the methods used is ordinal regression analysis to examine the importance of entrepreneurial ownership and technology usage on product innovation. Another technique used is the fuzzy-based simulation to simulate the scenario of entrepreneurial ownership and usage of technology in business processes impacting product innovation.FindingsResults from statistical analysis indicate that entrepreneurial ownership is high in India compared to the globe. The usage of technology and its excellence is still lower than the global level and in other countries. In India, product innovation is achieved because of strong entrepreneurial ownership but, globally product innovation is achieved because of the higher level of technological excellence and technology usage in innovation activities. The fuzzy-based simulation shows that product innovation is at peak only when both technological input and entrepreneurial ownership are high.Originality/valueThis paper's original contribution is that the fuzzy-based simulations are applied to GEM data to study the relationships of entrepreneurial ownership and technological input on product innovation through simulation. The study has shed light on how entrepreneurial ownership and usage of technology are influential in product innovation.