How Can Small and Medium Enterprises Maintain a Balance of Research and Development?

Abstract

The objective of this project is to gain a better understanding of how small and medium sized enterprises (SMEs) balance research and development (R&D) activities. We explore modern R&D tools and methodologies through literature research. These tools and methodologies are then aligned with "External Variables and Internal Conditions" as identified by Keizer et al. and a framework is created [1]. This framework is applied to a case study. The case study examines HECO, the Hawaiian Electric company, representing a small enterprise. The results of this analysis show that the proposed framework for understanding SME R&D programs is viable.