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With an interdisciplinary approach this book elaborates and discusses the strategic, regulatory and economic scenario that the sponsorship of a European Digital Single Market has been generating for small- and medium-sized companies (SMEs).
SMEs represent more than 95% of businesses operating in global markets. These businesses are the fabric of any economic system both in developed and emerging countries, and are the main constituents of any global supply chain throughout the world. However, research on new 4.0 marketing strategies for this kind of businesses has been largely neglected. Extant literature mostly neglects, or fails to articulate the importance of emerging technology such as Big Data, Artificial Intelligence and VR/AR for SMEs. Building on that, this book reviews existing literature on innovation and new technology in marketing for SMEs, what they could do and should avoid. Then, presenting multiple case study from SMEs operating in diverse industries (fashion and design, food and wine, financial services), it develops a practical strategic framework that could be used by SMEs wishing to effectively innovate their marketing strategies in our contemporary digital era. It will be an essential resource for students and researchers of marketing, innovation and industry 4.0.
Management and Information Technology in the Digital Era: Challenges and Perspectives explores the management and practical implications of digital information management to provide theoretical insight for managers and researchers to co-create their technology values and better understand its prospects and challenges.
The New Digital Era's two volumes highlight the new social and economic policies that are needed to balance the effects on social and economic life and prevent possible conflicts between individuals and societies in the wake of the COVID-19 pandemic and digitalisation.
While it is clear that workforce involvement is fundamental for the success of digital transformation, it is also evident that insufficient attention has been paid to emerging strategies to convince employees to become involved. To do so, this book considers Relational Goods, the intersubjective and reflexive relationships existing between employees, within the DOI framework to evaluate how they influence digital transformation success alongside innovation traits, time and communication channels. The focus for this book is SMEs, as these businesses experience greater difficulties than their larger counterparts in keeping up with the digital revolution. The authors develop the Relational Goods model to a refined DOI framework including the role of relationship and managerial support in the adoption of technologies that may transform the business. It will be of great interest to scholars and students of management, digital transformation and SMEs, as well as HRM professionals.
PURPOSE: Explore what entrepreneurship and success factors can help drive business to resilience and stability and achieve competitive advantage through innovation in different countries and business realities in the era of digital transformation and turbulent times. METHODOLOGY: Based on the narrative literature review, we present research findings concerning new strategies and outlooks for business innovation in times of many unknowns. Each organization wants to find its way to gain success and create its unique business model, which can capture value creation and innovativeness and be more adaptive, resilient, and stable in critical moments and sustainable over time. FINDINGS: The articles presented in this issue explore the essential factors of business innovation and success in different organizations and the environments in which these businesses function. IMPLICATIONS FOR THEORY AND PRACTICE: This article synthesizes the presented research field’s importance and relevance, connecting its theoretical background with practical research. Recommendations and implications for future trends of this research stream might also be helpful for professionals and academicians. ORIGINALITY AND VALUE: The novel studies presented in this issue were done in five different (developing and developed) countries and business sectors that present human-based and non-human-based factors as crucial factors needed to empower business transformation in a complex world. Each group of elements is essential in business success, and their components are interdependent. We need to look at the interactions and interdependencies of their components in a dynamic and network form and cannot simplify the reality, focusing only on one group of business components and ignoring the other. These unique studies provide a valuable outlook to establish dynamic, adaptive business pathways towards a sustainable and resilient organizational future and propose future research paths needed to execute structural changes in businesses. Keywords: business model, innovation, critical success factors, digital transformation, knowledge management, talent management, competitiveness, leadership, transformation, change management, VUCA Table of Contents Business innovation and critical success factors in the era of digital transformation and turbulent times 7 Anna Florek-Paszkowska, Anna Ujwary-Gil, Bianka Godlewska-Dzioboń Survival of the funded: Econometric analysis of startup longevity and success 29 Daniel Keogh, Daniel K.N. Johnson The use of process benchmarking in the water industry to introduce changes in the digitization of the company’s value chain 51 Natalia R. Potoczek Entrepreneurial self-efficacy and entrepreneurial intention: The mediating role of the need for independence 91 Victor Osadolor, Emmanuel K. Agbaeze, Ejikeme Emmanuel Isichei, Samuel Taiwo Olabosinde Application of knowledge management tools: Comparative analysis of small, medium, and large enterprises 121 Natalia Sytnik, Maryna Kravchenko Innovation among SMEs in Finland: The impact of stakeholder engagement and firm-level characteristics 157 Hannu Littunen, Timo Tohmo, Esa Storhammar
The field of Small and Medium-Sized Enterprises (SMEs) digitalization is becoming more mature and has a significant contribution to fully develop the agenda of Industry 4.0. Since SMEs are known to have challenges around Industry 4.0 implementation, this book integrates experience from 14 countries worldwide.
This book explains and exemplifies how SMEs can embrace the Smart Production approach and technologies in order to gain a beneficiary outcome. The book describes the Smart Production vision for SMEs, as well as the method to get there. The concept behind the book is based on the long-term experience of the authors in researching and tackling problems of SMEs in the manufacturing sector. The book provides applied methods and obtained solutions in different branches and different sizes of SMEs, encompassing a broad survey of our markets and societies. The perspective is systemic/holistic and integrated including human, organizational, technological, and digital perspectives.
Business Models and Innovative Technologies for SMEs focuses on technologies such as data analytics, artificial intelligence and data as a service. As these technologies offer new possibilities, small and medium enterprises (SMEs) often struggle to grasp their full potential within evolving business landscapes. Five reviews discuss the potential of these technologies to drive SME growth. The book also highlights the need for a strategic approach to overcoming challenges faced by SMEs to create innovative business models such as limited resources, infrastructure hurdles, and financial limitations. The chapters explore diverse facets of business model innovation, covering strategic models for mobile application development, the critical role of cybersecurity culture, readiness assessments, digital transformations leveraging artificial intelligence, expert systems' impact on competitiveness, and the adoption of data as services in SMEs. Each chapter is tailored to provide actionable insights drawn from theory and, where possible, real-life case studies, addressing questions related to technological benefits, innovative strategies, and challenges in implementing digital transformations for SMEs. This book caters to a wide audience of academics, researchers, policymakers, and business practitioners deeply invested in SME development, offering practical solutions and theoretical frameworks. The combination of scholarly and practical approaches towards developing and implementing innovative strategies, makes it a valuable resource for readers seeking to understand and support SME growth.