Innovation in perspective: The role of creativity and open innovation in B2B, B2C, and B2G business models

Abstract

This study explores how creativity and open innovation practices (inbound and outbound) influence product innovation and innovative performance in small and medium-sized enterprises (SMEs) in Chile, using B2B, B2C, and B2G business models as moderating variables. Through empirical analysis based on a sample of 536 SMEs, we applied structural equation modeling to assess the relationship between creativity, open innovation practices, and their impact on product innovation. The results reveal that creativity significantly impacts product innovation and outbound practices, while inbound practices do not directly affect product innovation. Additionally, it was found that product innovation substantially improves the innovative performance of SMEs. This study contributes to the literature by demonstrating how specific open innovation practices and creativity can be leveraged to enhance innovation in SMEs. Adapting these practices should consider the particularities of different business models to maximize their effectiveness.