Facilitating SMEs in Adapting and Adopting to the Digital Future

Facilitating SMEs in Adapting and Adopting to the Digital Future PDF Author: Maximilian Wilde
Publisher:
ISBN:
Category :
Languages : en
Pages :

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Book Description
In recent years, the topic of Industrie 4.0 gained more and more media coverage, popularity and importance. Figure 1 illustrates a trend analysis of Industrie 4.0 and the digital transformation over the past five years, representing the increase of interest in the topic. The concept of Industrie 4.0 was developed in the frame of the High-Tech Strategy of the Federal Government of Germany. Up to now, it is more of a vision of the digital transformation of the economy and the society. The research project mainly focuses on small and medium-sized enterprises (SME), as they bear great potentials and small changes already have great impacts. Additionally, the majority of the scientific research mainly focuses on large enterprises and SMEs are left out. A better understanding of the concept has been developed by having a deeper look into a variety of reports and research projects with regard to Industrie 4.0, its origin and the previous revolutions. Furthermore, the main technical concepts, which are observed as the major enablers for Industrie 4.0 are introduced. It could be identified, that most of the relevant technologies are already known for several decades, however there is a new way of application and combination of the different technologies. In addition, the further developments of the technologies and the framework enabled a broader and more efficient use. Furthermore, ten interviews with a variety of representatives from the industry, interest representatives and academia have been held. This helped, to develop a good insight of their position, understanding and attitude towards the digital transformation. Within the interviews, a variety of challenges and obstacles but also opportunities and potentials could be identified. The challenges are subdivided into external challenges like a required comprehensive legal framework, which can hardly be addressed and changed by the SMEs themselves and internal challenges like a lack of knowhow, which can be addressed and changed by the SMEs. Additionally, several twofold challenges were identified like data and IT security and safety related concerns, which can only be addressed in parts by SMEs. However most of the challenges, when addressed properly, can be turned around into an opportunity. Additionally, a variety of opportunities like the current good economic situation as a driver for innovation, were identified. Next to the challenges and opportunities, the digital transformation also implies a firm assessment of the business model in terms of its potential continuity in the future and change management within SMEs. Most of the identified inhibitors can already be avoided by a certain openness towards change and the willingness, to implement a new digital strategy. It is important to dedicate time to such a project and not to lose focus. Furthermore, there should be tidy and well documented processes since an automation of chaos would not generate any benefits. A recommendation in terms of a consulting model was developed stating several preconditions, which need to be met, to successfully implement an Industrie 4.0 project. It is important to bear the experience of a SME in mind, when approaching them with a project. If they have never heard of the topic in relation with their business, becoming too technical or too advanced, only causes confusion. Thus, a general introduction is required. Developing a digital roadmap in iterative steps with clearly defined and reachable targets is a major enabler for success. Furthermore, it is important to have a digital strategy and prepare the business model for the digital transformation. Considering all the above, it could be identified, that SMEs have good chances and great potentials in the implementation of future technologies, if they have the willingness towards change.

Facilitating SMEs in Adapting and Adopting to the Digital Future

Facilitating SMEs in Adapting and Adopting to the Digital Future PDF Author: Maximilian Wilde
Publisher:
ISBN:
Category :
Languages : en
Pages :

Get Book Here

Book Description
In recent years, the topic of Industrie 4.0 gained more and more media coverage, popularity and importance. Figure 1 illustrates a trend analysis of Industrie 4.0 and the digital transformation over the past five years, representing the increase of interest in the topic. The concept of Industrie 4.0 was developed in the frame of the High-Tech Strategy of the Federal Government of Germany. Up to now, it is more of a vision of the digital transformation of the economy and the society. The research project mainly focuses on small and medium-sized enterprises (SME), as they bear great potentials and small changes already have great impacts. Additionally, the majority of the scientific research mainly focuses on large enterprises and SMEs are left out. A better understanding of the concept has been developed by having a deeper look into a variety of reports and research projects with regard to Industrie 4.0, its origin and the previous revolutions. Furthermore, the main technical concepts, which are observed as the major enablers for Industrie 4.0 are introduced. It could be identified, that most of the relevant technologies are already known for several decades, however there is a new way of application and combination of the different technologies. In addition, the further developments of the technologies and the framework enabled a broader and more efficient use. Furthermore, ten interviews with a variety of representatives from the industry, interest representatives and academia have been held. This helped, to develop a good insight of their position, understanding and attitude towards the digital transformation. Within the interviews, a variety of challenges and obstacles but also opportunities and potentials could be identified. The challenges are subdivided into external challenges like a required comprehensive legal framework, which can hardly be addressed and changed by the SMEs themselves and internal challenges like a lack of knowhow, which can be addressed and changed by the SMEs. Additionally, several twofold challenges were identified like data and IT security and safety related concerns, which can only be addressed in parts by SMEs. However most of the challenges, when addressed properly, can be turned around into an opportunity. Additionally, a variety of opportunities like the current good economic situation as a driver for innovation, were identified. Next to the challenges and opportunities, the digital transformation also implies a firm assessment of the business model in terms of its potential continuity in the future and change management within SMEs. Most of the identified inhibitors can already be avoided by a certain openness towards change and the willingness, to implement a new digital strategy. It is important to dedicate time to such a project and not to lose focus. Furthermore, there should be tidy and well documented processes since an automation of chaos would not generate any benefits. A recommendation in terms of a consulting model was developed stating several preconditions, which need to be met, to successfully implement an Industrie 4.0 project. It is important to bear the experience of a SME in mind, when approaching them with a project. If they have never heard of the topic in relation with their business, becoming too technical or too advanced, only causes confusion. Thus, a general introduction is required. Developing a digital roadmap in iterative steps with clearly defined and reachable targets is a major enabler for success. Furthermore, it is important to have a digital strategy and prepare the business model for the digital transformation. Considering all the above, it could be identified, that SMEs have good chances and great potentials in the implementation of future technologies, if they have the willingness towards change.

Digital and Social Media Marketing

Digital and Social Media Marketing PDF Author: Nripendra P. Rana
Publisher: Springer Nature
ISBN: 3030243745
Category : Business & Economics
Languages : en
Pages : 337

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Book Description
This book examines issues and implications of digital and social media marketing for emerging markets. These markets necessitate substantial adaptations of developed theories and approaches employed in the Western world. The book investigates problems specific to emerging markets, while identifying new theoretical constructs and practical applications of digital marketing. It addresses topics such as electronic word of mouth (eWOM), demographic differences in digital marketing, mobile marketing, search engine advertising, among others. A radical increase in both temporal and geographical reach is empowering consumers to exert influence on brands, products, and services. Information and Communication Technologies (ICTs) and digital media are having a significant impact on the way people communicate and fulfil their socio-economic, emotional and material needs. These technologies are also being harnessed by businesses for various purposes including distribution and selling of goods, retailing of consumer services, customer relationship management, and influencing consumer behaviour by employing digital marketing practices. This book considers this, as it examines the practice and research related to digital and social media marketing.

OECD SME and Entrepreneurship Outlook 2021

OECD SME and Entrepreneurship Outlook 2021 PDF Author: OECD
Publisher: OECD Publishing
ISBN: 9264579311
Category :
Languages : en
Pages : 294

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Book Description
Small and medium-sized enterprises (SMEs) and entrepreneurs have been hit hard during the COVID-19 crisis. Policy responses were quick and unprecedented, helping cushion the blow and maintain most SMEs and entrepreneurs afloat. Despite the magnitude of the shock, available data so far point to sustained start-ups creation, no wave of bankruptcies, and an impulse to innovation in most OECD countries.

The Digital Transformation of SMEs

The Digital Transformation of SMEs PDF Author: Oecd
Publisher: Org. for Economic Cooperation & Development
ISBN: 9789264392458
Category :
Languages : en
Pages : 274

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Book Description


OECD SME and Entrepreneurship Outlook 2005

OECD SME and Entrepreneurship Outlook 2005 PDF Author: OECD
Publisher: OECD Publishing
ISBN: 9264009256
Category :
Languages : en
Pages : 420

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Book Description
Describes recent trends concerning SMEs and entrepreneurship in OECD economies and beyond discussing innovation, regulatory burdens, entrepreneurship education, access to financing, and women's entrepreneurship. Includes a statistical annex.

The Path of the Adoption of Digital Technology to SMEs' Business Performance

The Path of the Adoption of Digital Technology to SMEs' Business Performance PDF Author: Fen Lyu
Publisher:
ISBN:
Category :
Languages : en
Pages : 0

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Book Description
Impressive developments in digital technology such as big data, virtual reality, cloud computing and artificial intelligence have been continually and thoroughly penetrating various fields, which have reshaped innovation landscape by accelerating growth of internet of everything, data-driven computation, platform support and intelligence industry. The mushrooming of digital technology is accelerating the integration with the real economy, driving the digital innovation to expand with full extent. Small and medium enterprises (SMEs) are the basic units to promote employment, economic development and innovative activities. They are the largest and most dynamic parts in the market economy and thus digital innovation is central to the survival and growth of Chinese SMEs. Therefore, a clear understanding both of processes by which SMEs develop digital innovation and the benefits which flow from digital innovation in terms of market share and profit level is important. This thesis demonstrates the use of a conceptual framework, the digital innovation value chain (DIVC), and shows how the DIVC approach helps to understand the process in digital innovation for SMEs. The value of the DIVC is expressed in showing the key interrelationships in the process of digital innovation from adoption of digital technology (ADT) through digital innovation to business performance in terms of the market share and profit level. This research empirically showed that the ADT can have a positive influence on both business networks and personal networks for SMEs. Furthermore, the results indicated that heterogeneous networks including business networks and personal networks afforded by ADT allows SMEs to continuously deal with digital innovation activities. We extend existing knowledge about innovation value chain by empirically illustrating the importance of digital technology with respect to digital innovation activities, in particular for digital products innovation, digital service innovation and business model innovation , which has indirect influence on SMEs' business performance. A key benefit of the DIVC approach is therefore its ability to emphasize the roles of different factors at various chain of the digital source-digital innovation-SMEs' business performance nexus, and to show their indirect and direct impact. This research provides a contribution in the area of digital innovation aimed at categorizing dimensions of digital innovation by suggesting that digital innovation involve digital products innovation, digital service innovation and business model innovation according to review on previous studies of innovation. It extends existing knowledge about innovation value chain by empirically illustrating the importance of digital technology with respect to digital innovation activities, in particular for digital products innovation, digital service innovation and business model innovation. This research also corresponds with the need to make today's digital innovation more fluid, thereby facilitating the diversity and flexibility of DIVC with regard to dynamic and boundless environment.

Moving Businesses Online and Embracing E-Commerce: Impact and Opportunities Caused by COVID-19

Moving Businesses Online and Embracing E-Commerce: Impact and Opportunities Caused by COVID-19 PDF Author: Semerádová, Tereza
Publisher: IGI Global
ISBN: 1799882969
Category : Business & Economics
Languages : en
Pages : 275

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Book Description
The COVID-19 pandemic caused global shock to the entire economic system. As a result of the government restrictions, both production and distribution channels were interrupted. In this situation, however, it was possible to observe that some companies were able to adapt to these new conditions. The demand for the possibility of translating physical business into virtual increased. The COVID-19 restrictions showed that many entrepreneurs do not have enough knowledge about the available online tools and possibilities. Given that the digital transformation of business today often consists only of incorporating existing tools into existing processes, transition to e-commerce could be made easily and quickly. Moving Businesses Online and Embracing E-Commerce: Impact and Opportunities Caused by COVID-19 analyzes the impact of COVID-19-related restrictions on business models of enterprises affected most by these restrictions and examines transformational changes induced by the accelerated adoption of internet technologies and transition to e-commerce-based business models. Covering topics such as customer relationship management (CRM), small and medium enterprises (SMEs), and customer loyalty, this book serves as an essential resource for business owners, CEOs, managers, IT consultants, web developers, students, professors, entrepreneurs, researchers, industry professionals, and academicians.

The Digital Transformation of SMEs

The Digital Transformation of SMEs PDF Author: Organisation for Economic Co-operation and Development
Publisher:
ISBN: 9789264697300
Category :
Languages : en
Pages : 300

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Book Description


Entrepreneurship and Development for a Green Resilient Economy

Entrepreneurship and Development for a Green Resilient Economy PDF Author: Adriana Grigorescu
Publisher: Emerald Group Publishing
ISBN: 1837970904
Category : Business & Economics
Languages : en
Pages : 243

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Book Description
This collection covers extensive ground in contemporary green entrepreneurship, from fundamental theories such as business investments and venturing capital to emerging and new concepts that reflect critical challenges, including technological development slowdowns, economic resilience, digitalization, green business footprints.

Measuring the Digital Transformation A Roadmap for the Future

Measuring the Digital Transformation A Roadmap for the Future PDF Author: OECD
Publisher: OECD Publishing
ISBN: 9264311998
Category :
Languages : en
Pages : 262

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Book Description
Measuring the Digital Transformation: A Roadmap for the Future provides new insights into the state of the digital transformation by mapping indicators across a range of areas – from education and innovation, to trade and economic and social outcomes – against current digital policy issues, as presented in Going Digital: Shaping Policies, Improving Lives.