Abstract

Inthis business era we can see a significant rise in the level of innovation.SMEs are Small Medium Enterprises. And innovative practices may be referred tocoming up with something new or a new method of completing a task. Innovativepractices may also help in earning higher profits and increase the firm’sefficiency. Being innovative brings out a competitive edge over othercompetitors. The study tries to recognize that, how SMEs operate in India andin Rest of the World as well. Specifically, it progresses a conceptual modelthat addresses innovative practices adopted by various SMEs in India. Earlierstudy showed that innovation works as a key to success and SMEs play asignificant role in India’s Economy. Observations of various SMEs and thevarious practices were considered. The objective of the study under focus is tothrow light on the innovative practices adopted by various SMEs operating inIndia. The primary data is collected by mailed Questionnaires to 150respondents and all of them are associated with SMEs. Data so collected fromthe working Professionals included responses on various factors like,innovation, performance, competition etc. which SMEs are practicing nowadays.The study finds that innovation is the need of the hour for SMEs. Almost everyfirm is trying to introduce or implement innovative practices. There is a relationbetween performance and innovation

Keywords: : SMEs, Innovation, InnovativePractices, Performance.