A review of the digitalization of the small and medium enterprises (SMEs) toward sustainability

A review of the digitalization of the small and medium enterprises (SMEs) toward sustainability

17 March, 2024 | Asif Raihan*
This study reviews the digitalization of small and medium-sized enterprises (SMEs) in relation to sustainability, using a systematic literature review approach. The review focuses on three primary domains: technological facets of digitalization, sustainability (economic, environmental, and social), and business attributes specific to SMEs. The analysis highlights the role of digital transformation in fostering innovation, enhancing competitiveness, and enabling customization in products and services. Despite the significant impact of the COVID-19 pandemic on SMEs, there is a lack of comprehensive understanding of how SMEs have embraced digital technology to support sustainability goals. The study identifies key technological advancements, such as Industry 4.0 technologies, that facilitate sustainable development. It also discusses the importance of corporate strategy, management, organizational structure, culture, skills, and leadership in the digitalization process. The review contributes to the achievement of sustainable development goals (SDGs) and offers insights for policymakers and SMEs seeking to transition towards sustainability and digitalization. The study concludes with recommendations for future research, emphasizing the need for empirical data, cost-benefit analyses, and support mechanisms for SMEs in their digital transformation journey.This study reviews the digitalization of small and medium-sized enterprises (SMEs) in relation to sustainability, using a systematic literature review approach. The review focuses on three primary domains: technological facets of digitalization, sustainability (economic, environmental, and social), and business attributes specific to SMEs. The analysis highlights the role of digital transformation in fostering innovation, enhancing competitiveness, and enabling customization in products and services. Despite the significant impact of the COVID-19 pandemic on SMEs, there is a lack of comprehensive understanding of how SMEs have embraced digital technology to support sustainability goals. The study identifies key technological advancements, such as Industry 4.0 technologies, that facilitate sustainable development. It also discusses the importance of corporate strategy, management, organizational structure, culture, skills, and leadership in the digitalization process. The review contributes to the achievement of sustainable development goals (SDGs) and offers insights for policymakers and SMEs seeking to transition towards sustainability and digitalization. The study concludes with recommendations for future research, emphasizing the need for empirical data, cost-benefit analyses, and support mechanisms for SMEs in their digital transformation journey.
Reach us at info@study.space
[slides] A review of the digitalization of the small and medium enterprises (SMEs) toward sustainability | StudySpace