APPROACHES TO KNOWLEDGE TRANSFER BETWEEN INNOVATIVE ORGANIZATIONS TO INCREASE COMPETITIVENESS AND SUSTAINABLE DEVELOPMENT

Abstract

Knowledge must be introduced into every aspect of the manufacturing process and management levels in order to increase the competitiveness of SMEs. This study aims to investigate how knowledge transfer affects a firm's ability to remain competitive. Effective resource flow management is essential for businesses to thrive in a cutthroat business climate. Despite the nature of knowledge being transferred, it is critical to the effective operation of SMEs. The fact that it can give organizations a competitive edge over a range of skills and knowledge lends trust to this assertion, as it can improve the innovative performance of new products made by companies involved in these kinds of knowledge-based collaborations. The purpose of this paper is to shed light on knowledge transfer and innovation in SME activities. By lowering the expense of acquiring the knowledge necessary to become competitive, SMEs can encourage the chance and incentive to exchange expertise during integration into clusters. Higher education institutions may be more proactive in helping SMEs manage environmental challenges by giving them relevant information and knowledge hubs to increase the competitiveness and sustainability of businesses. Moreover, policymakers and investors should prioritize supporting and financing R&D as well as social networking initiatives to enhance innovation among SMEs.