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Vol.12, No.3, August 2023. ISSN: 2217-8309 eISSN: 2217-8333
TEM Journal
TECHNOLOGY, EDUCATION, MANAGEMENT, INFORMATICS Association for Information Communication Technology Education and Science |
E-Business as Catalyst for Global Transformation of SMEs: A Middle East Perspective
Marko Selaković, Nikolina Ljepava, Anna Tarabasz, Ilija Stojanović
© 2023 Marko Selaković, published by UIKTEN. This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 License. (CC BY-NC-ND 4.0)
Citation Information: TEM Journal. Volume 12, Issue 3, Pages 1838-1844, ISSN 2217-8309, DOI: 10.18421/TEM123-67, August 2023.
Received: 25 April 2023. Revised: 30 July 2023.
Abstract:
Small and medium enterprises (SMEs) are carriers of the economic development on local, regional, and national level. With high levels of flexibility, agility and adaptability, small and medium enterprises have the ability to transform and embrace new emerging technologies and opportunities. In the Industry 4.0 world, characterized by the intensive development and integration of digital solutions into all levels of operations, SMEs are among early adopters of such solutions. The purpose of the paper is to examine how small and medium enterprises in the Middle East are increasing their competitiveness, using innovative digital and e-business solutions as key transformative tools. Within the research, a systematic review of support ecosystem for development of the sector in the Middle East has been performed. Based on the systematic review and literature findings, the 5I framework, consisting of internationalization, innovation, integration, implementation, and intensifying, has been suggested as the model for transformative development of small and medium enterprises. In the future research, it is possible to examine how fast-growing economies that create supportive environment for the development of small and medium enterprises, simultaneously recognizing digital and e-business solutions as important pillar of increasing competitiveness and innovativeness, might benefit from successful implementation of 5I framework for successful global transformation.
Keywords –SMEs, e-business, digital transformation, economic development, competitiveness. |
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