THE RELATIONSHIP BETWEEN INNOVATION, COST PREDICTION AND THE MANUFACTURING PROCESS AMONG SMALL-TO-MEDIUM ENTERPRISES (SMEs) IN SAUDI ARABIA

It should be same subject or something relative to that subject.
• Factors that impact on product innovation practice. Engage with theory ( where is the current gap in the theory and how the study will address this and where is the novelty in the research proposal)
• Avoid financial factors.
• Proposal should include:
1- Introduction
2- Motivation of research
3- Literature review
4- Research gap identification include (question and objective) and how the study will fill this gap.
5- Methodology: should be developed, expanded and offering details on the potential data to be collected and how it will be analyzed. (may include a proposed time line)
6- Expected implications
7- Expected research output (e.g. Potential research output in terms of journal papers).
8- Any other topics support the proposal.
9- References. The relationship between innovation, cost prediction and the manufacturing process among small-to-medium enterprises (SMEs) in Saudi Arabia

Introduction

The Small and Medium Enterprises (SMEs) have become imperative drivers of economic advancement and critical contributors to sustainable Gross Domestic Product (GDP) in many nations. The same phenomenon has been experienced in nations in the Middle East and North Africa (MENA) region (Saleh 2012, p. 2). The aspects of globalization have also contributed to the development of SMEs as businesses expand their market share and develop products and services based on the needs of a particular population. Like many nations in the MENA region, the Kingdom of Saudi Arabia is diversifying its revenue channels to reduce the reliance the country has on the sale of petroleum related products (Ahmad 2012, p. 218). Subsequently, the diversification of economic activities has led to increased government support for the entrepreneurial activities as well as direct foreign investment. Increased support for SMEs and globalization have increased competition across most lines of investment. The SMEs predominantly engages in the manufacturing and service industries, and this has contributed to job creation for both skilled and unskilled people (Ahmad 2012, p. 218). In the recent past, Saudi Arabia has shown its focus on the much-anticipated vision 2030, which is a strategic long-term economic development blueprint that is designed to reduce the nation’s dependency on oil. Subsequently, businesses across the kingdom have the obligation to innovate new products and services, which requires new and effective strategies for raising capital for investment and ensuring adequate returns are earned through efficiency in the manufacturing processes. On the same note, there is a huge demand for Islamic products in the MENA region. For the SMEs to remain in line with the vision 2030 and meet the region’s consumer needs, there is a need for the businesses to be innovative in how they conduct business and develop products and services. This paper intends to propose a qualitative research that will generate insights on the relationship between innovation, cost prediction, and manufacturing process in SMEs in Saudi Arabia.

Motivation for the Research

The rationale for conducting this research is based on the need to understand how SMEs are creating competitive advantage and the sustainability of these businesses in the country. Innovation offers the opportunity to come up with new products, services, and processes, while the capital prediction activities facilitate the actualization of these ideas. The manufacturing process is critical in turning the raw materials into finished products. Despite the huge demand for Islamic products, the SMEs in the MENA region face challenges due to the lack of Sharia-compliant products. The research will also highlight the effectiveness of the strategies implemented by the Saudi government in improving and providing opportunities for SMEs to engage in innovation, capital appraisal, and manufacturing processes. Additionally, the research will provide critical information that can help startups to engage in business and sustain the enterprises for economic growth and increasing employment opportunities in the region…

Order a Similar or Custom Paper from our Writers