This document discusses the role of information communication technology (ICT) in supporting small and medium enterprises. It defines ICT as technologies that provide access to information through telecommunications. ICT is described as a critical business strategy enabler that helps small businesses stay ahead of competition by allowing them to design products digitally, create prototypes, manage quality assurance, and manufacture items more efficiently. However, barriers to ICT adoption among small and medium enterprises include a lack of knowledge regarding useful technologies, strategic ICT skills, fears around new technologies, and high perceived costs. The document provides recommendations for how small businesses can employ ICT, such as conducting technology assessments, developing ICT strategies, and fostering a culture of innovation.
Slides presented during #ISVwebinar n°1, 12 September 2016.
Content: The SME Instrument initiative of the EU Commission. Key elements of the programme and instructions on how to apply.
#ISVwebinars n° 1: Smart&Start Italia - Daniela Patuzziitaliastartupvisa
Slides presented during #ISVwebinar n°1, 12 September 2016.
Content: Smart&Start Italia, the financing initiative for innovative startups managed by Invitalia. Rules of the programme and key data on applicants
With this handbook, iHub.eu wants to shed a light on how to start building an innovation hub in your area.
We hope it can serve as your guide and first aid, during the setup of the whole process.
The iHub.eu network currently consists of 24 members, who all went through the same phases, as you are about to do.
Consider this as a warm welcome to reach out to us to address all your questions.
For more information, please visit www.ihub.eu
Slides presented during #ISVwebinar n°1, 12 September 2016.
Content: The SME Instrument initiative of the EU Commission. Key elements of the programme and instructions on how to apply.
#ISVwebinars n° 1: Smart&Start Italia - Daniela Patuzziitaliastartupvisa
Slides presented during #ISVwebinar n°1, 12 September 2016.
Content: Smart&Start Italia, the financing initiative for innovative startups managed by Invitalia. Rules of the programme and key data on applicants
With this handbook, iHub.eu wants to shed a light on how to start building an innovation hub in your area.
We hope it can serve as your guide and first aid, during the setup of the whole process.
The iHub.eu network currently consists of 24 members, who all went through the same phases, as you are about to do.
Consider this as a warm welcome to reach out to us to address all your questions.
For more information, please visit www.ihub.eu
Information and Communication Technology (ICT) is an integral part of business management now-a-day. It is inevitable for the smooth running of business irrespective of size and complexity. Due to the rapid development of ICT and its huge use in all spheres of our lives, businesses are also substantially influenced by it. Now, the resources of the businesses are primarily managed by using ICT supports that helps perform tasks faster and more accurate than before. But the developing countries are still struggling to introduce ICT supports in all areas of business management processes as the effort is substantially hindered by a strong but ineffective work culture. Therefore, to use ICT in business management we need to know the issues and challenges of it.
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1. THE ROLE OF ICT IN THE DIGITAL ECONOMY –
A CATALYST FOR THE SUPPORT
& FOR THE GROWTH OF
SMALL MEDIUM ENTITIES
A plenary paper presented to the SABIC March 2016
2. 2
TABLE OF CONTENTS
INFORMATION COMMUNICATION TECHNOLOGY (ICT) DEFINED
THE ROLE OF ICT IN SMALL MEDIUM ENTERPRISES
QUESTIONS AND ANSWERS
HOW SMALL MEDIUM ENTERPRISES CAN EMPLOY ICT IN RUNNING
THEIR BUSINESSES
SMALL MEDIUM ENTERPRISES AND ICT ADOPTION BARRIERS
3. 3
INFORMATION COMMUNICATION TECHNOLOGY (ICT) DEFINED
THERE IS NO UNIVERSAL DEFINITION FOR INFORMATION COMMUNICATION
TECHNOLOGY (ICT) BECAUSE OF ITS DYNAMIC NATURE.
““ICT refers to technologies that provide access to information through
telecommunications...”
4. 4
THE ROLE OF ICT IN SMALL MEDIUM ENTERPRISES
ICT is a critical business strategy enabler and assists small businesses to
stay ahead of competition.
EXAMPLE:
e.g. a furniture business that carves furniture manually vs. the one that:
Uses technology to design the furniture
To create prototypes
To manage quality assurance
To carve and mould the furniture
ADVANTAGES:
Makes more furniture in a short space of time
More customers (no back log, quick to market, flexible customer designs)
Quality products
Cost effective which means more volumes to market
5. 5
SURVEY – INTERACTIVE DISCUSSION
1. How many business people think ICT is very expensive?
2. How many people think ICT is a very difficult to manage?
3. Do you think ICT would add any value to your business?
6. 6
SMALL MEDIUM ENTERPRISES AND ICT ADOPTION BARRIERS
Lack of knowledge on key technologies that can enable their business to stay
relevant and ahead of competition.
Lack of strategic ICT skills
Techno Phobia – the fear of the unknown
Perceived high set-up and maintenance costs & therefore lacking of funding
The dynamism/continuous change in technology requires continuous learning
and business evolvement.
7. 7
HOW SMALL MEDIUM ENTERPRISES CAN EMPLOY ICT IN RUNNING THEIR
BUSINESSES
Awareness of Information Communication Technology as a key tool to
enabler business – conducting a business assessment to ascertain the value
technology would add to the business.
The development of an ICT Strategy based on customer needs & aligned
to the business strategy– this element can be outsourced to a consulting
businesses as opposed to an in-house resource as that would cost more.
Making ICT part of the decision making process – involve an ICT strategist
in your key business decision processes
Instil an innovative and learning culture within the starting with the business
leadership to the rest of the team