Research Article
The Innovation Effect of the Human-Centered Entrepreneurship Model: Implications for Innovation Growth SME Policy
The Catholic University of Korea
Published: January 2019 · Vol. 48 No. 4 · pp. 1123-1149
DOI: https://doi.org/10.17287/kmr.2019.48.4.1123
Full Text
Abstract
This study suggests policies to support the growth of Innovative Humane SMEs in Korea. Human capital is a source of innovation and idea development. To do this, companies must develop employee competencies and build an organizational culture in which employees actively participate in innovation. The theoretical model utilized the Humane Entrepreneurship model (Kim, Tarabishy, Bae, 2018). Using this model, the corporate performance attributable to human capital is analyzed empirically. Based on these results, this study suggests the following policies to promote Innovative Humane SMEs. First, it is necessary for SME policy to shift from being business support centeric and focus more on human capital investment. Efforts should be made towards the growth and capability building of SME employees. Second, SME policies need to focus on providing better support for entrepreneurs. Humane entrepreneurs should be fostered. Third, it is necessary to change the corporate culture of SMEs. We need a program support policy to foster the TMT (Top Management Team), the core managers of SMEs, to become transformational leaders. Fourth, the private policy ecosystem for SMEs should be encouraged to participate in policy making. The private sector should be actively involved in finding and fostering Humane Innovative SMEs.
