Technological Adaption and Open Innovation in SMEs: An Strategic Assessment for Women-Owned SMEs Sustainability in Bangladesh

Technological adaption and innovative activities foster small and medium enterprises (SMEs) growth by allowing production and process diversifications. Furthermore, open innovation practices, especially SMEs, rely on several firms’ specific attributes, and their impact varies accordingly. This study’s motivation is to explore the impact of technological adaptation and open innovation on SMEs run by women entrepreneurs and the challenges encountered in implementing open innovation. A sample of 580 questionnaires was sent to target SMEs, following the stratified random sampling technique, of which a complete 375 responses were duly received. The open innovation has been measured through eight innovative practices, reflecting the exploration and exploitation of technology in SMEs. This study found that women-owned enterprises were involved in many open innovation policies…