BENCHMARKING AS AN EFFECTIVE TOOL FOR ENHANCING THE COMPETITIVENESS OF SMALL INNOVATIVE BUSINESSES
DOI:
https://doi.org/10.47390/SPR1342V5SI5Y2025N09Keywords:
benchmarking, small innovative business (sib), competitiveness, innovation, economic development, Uzbekistan, management toolsAbstract
This article analyzes the effectiveness of benchmarking in enhancing the competitiveness of small innovative business (SME) entities. SMEs are an important part of Uzbekistan's economy, generating jobs and innovations, but they face resource constraints and intense competition. The study is based on expert interviews conducted with 20 SMEs in Uzbekistan. The results show that benchmarking accelerates innovation processes, improves operational efficiency, enhances marketing strategies, and strengthens financial stability. The discussion highlights the theoretical and practical significance of these findings, the unique characteristics of Uzbekistan, and directions for future research. In conclusion, benchmarking is a key tool for ensuring sustainable development and economic growth for SMEs.
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