Development of Digital Transformation to Small Business Management in Developing Countries

Result code in IS VaVaI

<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F62156489%3A43310%2F21%3A43921030" target="_blank" >RIV/62156489:43310/21:43921030 - isvavai.cz</a>

Result on the web

<a href="https://conference.fbm.vutbr.cz/ic/index.php/ic/libraryFiles/downloadPublic/24/PROCEEDING-ABSTRACT-2021.pdf" target="_blank" >https://conference.fbm.vutbr.cz/ic/index.php/ic/libraryFiles/downloadPublic/24/PROCEEDING-ABSTRACT-2021.pdf</a>

DOI - Digital Object Identifier

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Result language

angličtina

Original language name

Development of Digital Transformation to Small Business Management in Developing Countries

Original language description

Purpose of the article The study aims to provide factual evidence that will help establish the fact that the interconnection of businesses within the globalised world has increased digital transformation drive in doing business. Moreover, the use of digital devices has led consumers to stay connected, and they influence businesses with a voice that has brought about convenience. The paper shows that digital transformation can lead to the success of the African Union Agenda 2063 plan for the transformation of Africa into the future global powerhouse and that digital technology offers the opportunity to boost economic growth and industrialisation strategies of African countries to alleviate poverty. Methodology/methods In order to determine the relationship between the growth of Small and Medium Enterprises (SMEs) and the constant change of improvement in the development of digital transformation and to establish the effects of digital technology on SMEs in Africa, the study used correlation and multiple regression statistical techniques to analyse relevant secondary data and materials collected from World Trade Organisation, the World Bank Groups and IMF reports on small and medium scale businesses which have dominated the business environment in developing countries in Sub-Saharan Africa. Scientific aim This study aims to show how the growing digital transformation changes affect the operations of small and medium scale businesses in developing countries in Sub-Saharan Africa. Besides, the paper seeks to establish the importance of national policy alongside corporate strategies towards developing and using digital technology in businesses. Findings The result shows that digital transformation changes how small businesses in developing countries approach their businesses with changing strategies for their brands. The finding confirms that the focus of businesses on digital transformation results from increasing competition in product marketing, advertising, purchasing and supply and payment transactions and the drive to provide high consumer value in this age of continuous digital transformation changes. Conclusions The study concludes that businesses that focus on digital transformation strategies demonstrate outstanding performance and high stock returns despite the disadvantages of constant changes in technology transformation and personnel problems. Therefore, small businesses in developing countries need to prioritise digital transformation in today&apos;s global market to boost economic growth and improve people&apos;s livelihood.

Czech name

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Czech description

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Type

O - Miscellaneous

CEP classification

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OECD FORD branch

50204 - Business and management

Project

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Continuities

I - Institucionalni podpora na dlouhodoby koncepcni rozvoj vyzkumne organizace

Publication year

2021

Confidentiality

S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů