Digital transformation: A roadmap to leverage businesses for SMEs
DOI:
https://doi.org/10.47963/jobed.v12i.1507Abstract
COVID-19 has been a critical turning point for businesses worldwide, compelling them to adopt digital technologies to sustain their economic activity. However, with limited resources such as budget constraints, transforming business strategies to integrate digital technologies is tedious. As the global market continues to evolve into a dynamic digitalised landscape, adopting digital transformation has become essential for businesses, especially start-ups and small- and medium-sized enterprises (SMEs), to remain competitive. Consequently, this study presents a roadmap for start-ups and SMEs to guide them in looking for support in digital technologies to leverage their businesses. The methodology includes a review of the industry’s best practices and case studies based on successful implementation, while fostering a customer-centric approach. Visits to trade fairs and interviews with small business owners were conducted (1) to understand the challenges faced by SMEs and (2) to identify their need to use digital technologies. The results show that one of the main challenges SMEs face is that apart from the lack of proper infrastructure, they lack confidence in adopting technology in their business. They require knowledge of digital technologies to properly define their requirements and use digital platforms. A framework mapped on the hierarchy of effects model is proposed to assist SMEs embarking on digital transformation systematically to learn, adapt, evolve, and sustain their businesses based on their needs and pace. This research contributes to the strategic roadmap, which provides step-by-step guidelines to support SMEs that could be part of their respective countries’ economic growth.
Downloads
References
Cohen, D., & Crabtree, B. (2006). Informal Interviewing. Qualitative Research Guidelines Project. Retrieved October 3, 2023, from http://www.qualres.org/HomeInfo-3631.html
Denmamode, L., & Ngo Siok Kheng, J. (2018). Alternative Digital Packaging Design Strategies to gain visibility in E-tailing [International Conference on Industrial Engineering and Operations Management]. IEOM Society International.
Ghobakhloo. (2020). Industry 4.0, digitization, and opportunities for sustainability. Journal of Cleaner Production, (252), 119869. https://doi.org/10.1016/j.jclepro.2019.119869
Hassan, S., Nadzim, S., & Shiratuddin, N. (2015). Strategic Use of Social Media for Small Business Based on the AIDA Model. Procedia - Social and Behavioral Sciences, 172, 262-269. https://doi.org/10.1016/j.sbspro.2015.01.363.
Holl, A., & Rama, R. (2023). Spatial Patterns and Drivers of SME Digitalisation. Journal of the Knowledge Economy. https://doi.org/10.1007/s13132-023-01257-1
Hussain, Z. (2021). Paradigm of technological convergence and digital transformation: The challenges of CH sectors in the global COVID-19 pandemic and commencing resilience-based structure for the post-COVID-19 era. Digital Applications in Archaeology and Cultural Heritage, 21. ISSN 2212-0548. https://doi.org/10.1016/j.daach.2021.e00182.
Lavidge, R., & Steiner, G. (1961). A model for predictive measurements of advertising effectiveness. The Journal of Marketing, 59-62.
Macdonald, S., & Headlam, N. (2008). Research Methods Handbook: Introductory Guide to Research Methods for Social Research. Centre for Local Economic Strategies.
Pamastillero. (2017). 4 Redefining Marketing in the Digital Economy – Digital Entrepreneur. Digital Entrepreneur. Retrieved November 5, 2023, from https://www.pamastillero.com/2017/08/11/4-redefining-marketing-in-the-digital-economy/
Rocha, Quandt, Deschamps, & Philbin. (2023). Chapter 8 - Understanding Digital Transformation challenges: evidence from Brazilian and British manufacturers. In Designing Smart Manufacturing Systems (pp. 187-210). Elsevier Science. https://doi.org/10.1016/B978-0-32-399208-4.00016-7
Sharp, B. (2010). How Brands Grow: What Marketers Don't Know. OUP Australia & New Zealand.
Simmons, G., Armstrong, G. A., & Durkin, M. G. (2011). An exploration of small business Website optimization: Enablers, influencers and an assessment approach. International Small Business Journal, 29(5), 534-561. https://doi.org/10.1177/0266242610369945
Strong, E. K. (1925). The psychology of selling and advertising. McGraw-Hill book Company.
World Economic Forum. (2023). Fourth Inductrial Revolution. Smaller and mid-sized businesses are fighting for survival. This is how they could prosper. Retrieved July 19, 2024, from http://www.weforum.org/agenda/2023/07/digital-transformation-potential-smes/
Yong, S. M. (2023). 4th Industry Revolution Digital Marketing Adoption Challenges in SMEs and its Effect on Customer Responsiveness. Information Management and Business Review, 15(2), 152-172.
Zuzaku, A., & Abazi, B. (2022). Digital Transformation in the Western Balkans as an Opportunity for Managing Innovation in Small and Medium Businesses - Challenges and Opportunities. FAC-PapersOnLine, 55(39), 60-65. https://doi.org/1016/j.ifacol.2022.12.011.
Downloads
Published
How to Cite
Issue
Section
License
Copyright (c) 2024 Leila Denmamode, Shireen Panchoo
This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License.