The Importance of Compliance Management in SMEs Ambidexterity Towards Innovation Performance Aside of Corporate Openness: Theoretical Framework
Pranaditya A., Trihudiyatmanto M., Purwanto H., Prasetiyo A.Y.
Abstract
Ambidexterity is still a concern of many researchers, especially in the field of SMEs because of its influence on innovation performance. Many of the previous studies have explored various factors, but not many put together corporate openness and compliance management in perspective. As such, this paper offers the concept as a foundation for improving innovation performance through openness and compliance management. Corporate openness is a key factor in the relationship of ambidexterity and innovation performance. Openness helps SMEs to gain access to external knowledge at minimal cost, and also understands competitor activity in the market thus helping SMEs to bridge the innovation gap between them, competitors and markets, with less time and cost. Compliance Management is a process to ensure companies and employees complies to all laws, regulations, ethical standards and practices applicable to organizations and industries. We argue that the absence of compliance with the laws, regulations, standards and ethical practices conducted by SMEs into the performance of innovation will be hampered. This is due to SMEs need to concentrate on resolving things that are obstacles to operationalization, then innovate after the problems are resolved. Therefore, compliance is needed in addition to corporate openness to improve the performance of SME innovation.
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