Strategic Application of E-Business in A Pandemic World: A Study with Small and Medium Enterprises (SMEs) in Korea (original) (raw)
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Digital strategies and organizational performances of SMEs in the age of Coronavirus
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SMEs issues during the digital transformation provoked by the Covid-19 outbreak
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This paper aims to identify the issues of small and medium enterprises (SMEs) forced to go through a digital transformation (DT) during the Covid-19 outbreak. Additionally, we further validate these issues in SMEs from multiple case studies and then propose a basic framework for the performance evaluation of SMEs during the digital transformation. We divided this study into two stages. This study's first stage identifies the SMEs' challenges and barriers through a systematic literature review (SLR). Next, through a multiple case study, we applied a questionnaire to validate the findings of SLR with owners or managers of four SMEs in Brazil. The results highlighted 46 issues, and the practitioners supported 89% of the findings, like supply chain disruption, liquidity issues, and cash flow challenges, and confirmed the efforts of the SMEs to become more digital. Moreover, based on the research findings, we can accept that the identified issues, their groups, and categories provide a basic framework for the performance evaluation of SMEs during the digital transformation. In addition to the dramatic damage to people's health, Covid-19 has also dramatically influenced companies worldwide, not just the company's operational functions but also in efforts to become more digitally mature. Among these enterprises, SMEs (Small and Medium Enterprises) have limited resources and capabilities and must deal with various barriers and challenges, making their circumstances more challenging.
SM" e-business"-Strategies for Success
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The World Wide Web (WWW) provides unique opportunities for small and medium-sized enterprises (SMEs) to build effective global infrastructures in at least three ways. First Internet-based infrastructures are relatively cheap; requiring significantly reduced capital investments over proprietary networks. Second, they provide an ever converging and rich environment for effective business networking and interorganisational process management. Third, they provide SMEs with access to a greatly expanded consumer market through electronic business (e-business). In order to exploit these advantages in a global strategy, the SME needs to adopt an entirely different approach to management that can enable it to deploy an extensive infrastructure network based on shared resources with other firms. This paper presents such a framework and provides a new perspective to strategic infrastructure management in SMEs and to electronic business research. The framework is supported by a number of case examples of SMEs in the global context.
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The COVID-19 pandemic has had a huge impact on all sectors of people's lives. One of the sectors that greatly affected was the economic sector. Micro, small, and medium enterprises are one part of the community's economic activities that are trying to stay afloat, although not infrequently some are forced to go out of business. The use of electronic commerce is a step for SMEs to survive. This study uses qualitative methods with descriptive data analysis and is equipped with a literature study. The result shows that the technique of marketing products and services using e-commerce is a survival strategy for MSMEs during the pandemic.
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Recent advances in the field of digital technology have enabled the expansion of the business market to a new level. Digital business markets encompass eminent features like increased transparency, enhanced customer relationship, flexible business targets, customer participation, etc. It aids in enhancing traditional business quality by bridging the relationship between the suppliers and the customers. The massive development of internet technology in recent years has largely contributed to the emergence of digital business. The digitization of the business world helps small and medium enterprises create a new digital network, which allows overcoming large enterprises' dominance. Since small and medium enterprises play a major role in determining a country's economy, the digital market's emergence and development are very important. The self-organizing capability of the digital market is the main advantage for newly emerging enterprises. Recently, the Covid-19 pandemic has resulted in customers' migration from offline shopping to the online market. These changing business models mandate the need for policies and control mechanisms. Using these policies, digital business projects are developed using an open environment using which the small and medium enterprises can interact with each other. These policies and control mechanisms outline the rules to be followed to avoid the current digital market issues. These policies must be designed to improve and ensure
International journal of business analytics, 2021
The COVID-19 epidemic has triggered unmatched impairment to businesses globally. There are unmeasurable financial influences in the short-term and long-term that have caused intangible destruction within businesses. This study investigates the adoption and utilization of e-business during COVID-19 by both organizations and the general populaces. The study used a questionnaire-based survey to collect data from top managers of business organizations and their clients. SPSS was used to analyze the adoption factors. The outcomes presented that embracing e-business can assist to reduce the spread of COVID-19 and can reduce the physical ways of doing business. The findings of this study will help strategy makers, companies, and officials in making better decisions on the implementation of e-business. This will reduce the rapid spread of community transmission since ordering goods and services can easily be done virtually without physical contact, which goes in line with the social distance policy and in return boosts the country's economy.
Key Issues in e-Business Development among SMEs: Opportunities and Challenges
The rapid advancement of Information and Communication Technology (ICT) in the world economy has enhanced e-business development. The continued exponential growth of the Internet, coupled with its growing ubiquity, especially globally, has provided different companies with a means to finally realize the economic benefits of electronic business in terms of reduced transaction costs, increased geographical scope and enhanced customer support (Fife and Pereira, 2002). The demonstrated benefits of internet applications that transfer many of a company’s internal business functions from paper-based to electronic-based transactions, enjoyed by companies such as eTransact, Zinox, Alpha Computers and others, have encouraged small and medium enterprises to adopt these applications. A broad perspective with regard to electronic business is taken in this study, is that electronic business will be viewed within the context of small and medium enterprises in terms of performing any business process electronically using a wide range of technologies such as electronic data interchange (EDI), e- mail, the Internet, the World Wide Web, (www) Intranets and Extranets. This study therefore focused on the evaluation of the challenges and opportunities involved in e-business development in SMEs. Key Words: e-business, Development, SMEs, Opportunity and Challenges.
SMEs digital transformation in the EaP countries during COVID 19(1)
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Digital transformation roadmaps, spanning decades, have been compressed into days and weeks to respond to life's new realities. Regardless of the sector they work in, economic actors had to swiftly figure out how to engage with their customers – consumers, patients, students, businesses – or even with their employees, due to the fast pace at which the pandemic transformed the economic environment. In contrast, previous waves of digital transformation have provided much more room for experimentation based on scalable, but carefully planned pilot projects. Currently, after many months of living in a pandemic, there is a clear understanding that without a comprehensive strategy that will encourage and stimulate small and medium sized enterprises (SMEs) in the Eastern Partnership (EaP) countries to implement digital technologies in a more consistent way, the economic recovery will not be sustainable. “Digital recovery”, seen as a top priority in a broader context, is becoming vital for SMEs. The SME sector in the EaP countries is extremely diverse. It brings together a significant number of enterprises with varying degrees of exposure to digital transformation. On the one hand, the COVID-19 crisis has negatively impacted the SME sector in the EaP region, with many businesses losing up to 80% of their turnover. On the other hand, it highlighted the differences between different segments of the SME sector in terms of their ability to adapt to changing business conditions. COVID-19 has prompted governments and SMEs to increase their online operations. The pandemic has triggered dramatic changes that prompt companies to embrace digital technology more widely in times of pressure. The various challenges faced by SMEs include declining customer purchasing power, limited interaction and working hours, shortages of raw materials, cancellation of orders, difficulties with cash flow, and supply chain disruptions. The situation is direr in emerging countries with market economy, where available government resources to help small businesses are limited. Speed is essential to provide the necessary support during a crisis; therefore, the use of digital technologies is proving critical in helping SMEs in these unprecedented times. There are challenges that limit the full potential of digitalisation to expand access to finance for SMEs, and risks associated with the use of digital financial products to consider. Some of these challenges and risks, while affecting the wider availability of financial services, have both direct and indirect effects on SMEs. These include low levels of financial and business literacy, limited Internet connectivity and use, unreliable (corporate) identity systems, current regulatory frameworks, lack of adequate data protection, and cybersecurity risks. The EaP SMEs need more support from the EU across all the dimensions of digital transformation: telecom infrastructure, access to finance, technologies and expertise for digital transformation, innovation, skills, institutional environment, internationalisation and integration into global value chains. The main barrier is the lack of knowledge on how to make use of the available digital tools in business- related activities. SMEs, unlike big businesses, do not have the opportunity to hire specialists who would implement and ensure the use of digital tools. SMEs cannot redirect financial and human resources towards digitalisation in most cases.
SSRN Electronic Journal, 2019
The process of digital transformation requires a careful management since it involves a set of technological, organisational, cultural and social changes that impact the organization as a whole. For that reason, in order to reach satisfying results, it is not enough to passively adopt digital technologies throughout the organisation. Instead, it is important to be aware of the key organisational implications of embracing such a change in order to be able to manage the whole process in the best possible way. To balance the ongoing digital transformation, it is becoming fundamental to improve also the so-called "digital resilience", that is becoming a critical factor for the success of any SME (Small and Medium Enterprise), now and in the future. Digital resilience needs to be regarded as an integral part of the strategy and mission of any business and should be centred around all involved staff in SMEs. For that reason, the present manuscript