Dewi Triana, Linawati Linawati

UTILIZING DIGITAL TECHNOLOGY TO ENHANCE ECONOMIC COMPETITIVENESS AND BUSINESS SUSTAINABILITY AMIDST TECHNOLOGICAL DISRUPTION FOR SMES (SMALL AND MEDIUM ENTERPRISES)

Introduction

Utilizing digital technology to enhance economic competitiveness and business sustainability amidst technological disruption for smes (small and medium enterprises). Boost SME competitiveness & sustainability through digital technology amidst disruption. Explore tech's role in productivity, market expansion, and overcoming challenges for growth.

Abstract

This literature review discusses the role of digital technology utilization in enhancing economic competitiveness and business sustainability amidst technological disruption. The purpose of this study is to identify the role of digital technology utilization in improving economic competitiveness and business sustainability in the face of technological disruption. The research method used is a literature review by collecting data from relevant national and international sources. This study shows that the use of digital technology can increase productivity, operational efficiency, product quality, create new opportunities to expand markets, and improve decision-making quality. However, many industries invest resources in the latest technology, but without proper management, disruption can lead to instability, resulting in an inevitable consumer manifesto. The implementation of digital technology also faces numerous challenges, such as resource shortages, unsupportive policies, lack of investment in research and development, and insufficient awareness of the importance of innovation. Therefore, enhancing economic competitiveness through the utilization of digital technology requires the involvement of all parties, such as the government, educational institutions, the private sector, and the general public. The government must create policies that support innovation, improve access to resources, and increase support for research and development to ensure business sustainability in the face of technological disruption.

Review

This literature review tackles a highly relevant and timely subject: the pivotal role of digital technology in bolstering economic competitiveness and business sustainability for Small and Medium Enterprises (SMEs) amidst pervasive technological disruption. The stated objective, to identify digital technology's contribution in this dynamic environment, is clear and addresses a significant contemporary challenge for businesses globally. The abstract effectively highlights the multifaceted benefits of digital adoption, enumerating improvements in productivity, operational efficiency, product quality, market expansion, and enhanced decision-making, thereby laying a strong foundation for understanding the positive potential for SMEs. While the abstract provides a useful overview of digital technology's advantages, it also briefly touches upon critical impediments such as resource constraints, policy deficiencies, and insufficient investment in research and development—all highly pertinent issues for SMEs. However, the mention of "an inevitable consumer manifesto" feels somewhat out of place and lacks the academic precision typically expected in scholarly work, requiring further clarification or a more rigorous conceptual framing. As a literature review, the abstract, in its current form, primarily functions as a synthesis of existing knowledge. It does not clearly articulate a novel theoretical contribution or a new analytical framework derived from the synthesis that might deepen our understanding beyond a general identification of factors and challenges. The concluding emphasis on multi-stakeholder involvement—government, educational institutions, private sector, and the general public—is undoubtedly crucial. However, the abstract's recommendations, such as creating supportive policies and increasing R&D support, remain somewhat broad. For a full paper building on this abstract, a more granular exploration of specific policy mechanisms, practical strategies for resource access, or a prescriptive framework derived from the literature for SMEs to navigate disruption would significantly enhance its practical utility and impact. Despite these points, the review addresses a critical area for academic and practical consideration, offering a valuable initial synthesis of the current discourse.

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