Abstract
As large enterprises lose market share and contribute less to the national economy in terms of investment, employment and R&D, the importance of small firms increases. In the changing economic order, small firms form the main link between universities and research institutes on the one hand, and large corporations on the other. Small firms, then, constitute an important means of technology transfer. In this context, the author discusses the reasons for a lack of enterpreneurship and organizational strength in many Western economies and argues for the importance of integration and encouraging technology development via small firms in strong regional policies that focus on strategic technology management and the development of an entrepreneurial environment.
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