Surviving black swan: competitive intelligence and frugal innovation as panaceas to SME value creation during crisis

This study proposes mechanisms for firms to thrive in a turbulent business environment by investigating the mediating role of frugal innovation in the relationship between competitive intelligence and value creation. The study also examined absorptive capacity as a critical boundary condition that influences the impact of competitive intelligence on frugal innovation. A survey questionnaire was administered to 302 SMEs, and the data were analysed using Amos. Structural equation modelling (SEM) was employed to test the hypothesis. The findings demonstrate a significant positive impact of competitive intelligence on SME value creation. The study also found that frugal innovation acts as a mechanism to amplify the impact of competitive intelligence on value creation, and this relationship is anchored by a high level of absorptive capacity. The study demonstrates how competitive intelligence and frugal innovation synergistically drive value creation amid turbulence under the auspices of absorptive capacity, thereby increasing SMEs’ resilience and competitiveness. The study sheds light on previously unexplored aspects of value creation in a turbulent business environment, offering novel perspectives on dynamic capabilities.

本研究通过考察节俭创新（frugal innovation）在竞争情报与价值创造之间关系中的中介作用，提出了助力企业在动荡商业环境中蓬勃发展的相关机制。本研究同时将吸收能力（absorptive capacity）视为影响竞争情报对节俭创新作用效果的关键边界条件。研究向302家中小企业（SMEs）发放了调查问卷，采用Amos软件对采集数据进行分析，并通过结构方程模型（SEM）检验研究假设。结果表明，竞争情报对中小企业价值创造具有显著正向影响。本研究还发现，节俭创新可作为强化竞争情报对价值创造作用效果的机制，且该关系以高水平的吸收能力为支撑。本研究阐明了在吸收能力的助力下，竞争情报与节俭创新如何在动荡环境中协同推动价值创造，进而提升中小企业的韧性与竞争力。本研究揭示了动荡商业环境下价值创造领域此前未被充分探索的维度，为动态能力（dynamic capabilities）研究提供了全新视角。