International Journal For Multidisciplinary Research

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An Operational Attributes of Sri Lanka's Small and Medium Enterprises (SMEs) and India's MSME Sectors in the Perspectives of Digital Transformation and Its Emergence in a Developing Economy

Author(s) Kunwar Jee Sinha, Somnath Roy Choudhury
Country India
Abstract In Sri Lanka, over 75% of enterprises are small and medium-sized enterprises (SMEs), and they generate 52% of the country's GDP and are essential to the country's economy (Kulasinghe et al., 2018). Cutting-edge competition, limited supply and price control, and resource constraints are just a few of the challenges Sri Lankan SMEs face in developing and expanding. Due to their lack of access barriers, cost reduction efforts, and rigid customer and supplier relationships, SMEs find acquiring traditional competitive advantages like differentiation or pricing challenging. To adapt their business models and strategies in response, many companies are experiencing a digital transformation. This article examines how SMEs might use digital transformation as a strategic effort to meet these issues. The report outlines the potential advantages of digital transformation for SMEs in Sri Lanka and indicates areas that need more study through a thorough literature analysis.
The study uses a concept paper format, focuses on empirical data, and mainly analyzes Sri Lanka's SME market. The article's conclusion outlines potential paths for study and research in this area.
Keywords SMEs, digital transformation, competitive advantages, business models and operational efficiency
Field Business Administration
Published In Volume 5, Issue 3, May-June 2023
Published On 2023-06-10
Cite This An Operational Attributes of Sri Lanka's Small and Medium Enterprises (SMEs) and India's MSME Sectors in the Perspectives of Digital Transformation and Its Emergence in a Developing Economy - Kunwar Jee Sinha, Somnath Roy Choudhury - IJFMR Volume 5, Issue 3, May-June 2023. DOI 10.36948/ijfmr.2023.v05i03.3679
DOI https://doi.org/10.36948/ijfmr.2023.v05i03.3679
Short DOI https://doi.org/gscdpm
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