Published Online:September 2024
Product Name:The IUP Journal of Business Strategy
Product Type:Article
Product Code:IJBS040924
Author Name:Pooja Agrawal and Kartik Bhutani
Availability:YES
Subject/Domain:Management
Download Format:PDF
Pages:15
Digital transformation enables businesses to stay competitive in a changing digital landscape. It revolutionizes operations for enterprises of all sizes, facilitating significant expansion for Small and Medium Enterprises (SMEs). The purpose of this study is to identify the opportunities and challenges for SMEs through digitalization. The wholesalers and retailers operating in SMEs across Pune, Maharashtra, were the population and sample unit for this study. Convenience sampling was implemented to draw a sample of 118. The analysis of collected information revealed that digital transformation in business provides ample opportunities to SMEs like increased market penetration, raised revenue streams, and greater customer connection. On the other hand, SMEs also faced substantial challenges because of huge investments in digital infrastructure, sophisticated technology, and intense competition from larger firms. The paper would be of help to SMEs to understand the challenges and opportunities arising out of digital transformation of businesses.
Digital transformation, a contemporary phenomenon, holds vital significance in today’s era. It revolutionizes the operational paradigms of businesses across the spectrum, be they small, medium, or large enterprises. Through digital transformation, small and medium-sized businesses can extend their outreach significantly, transcending geographical confines to engage with a global audience via the Internet.