7 Holistic Approach for SME Mark Their Position in the Digital Era

Where is Small and Medium Enterprises (SMEs) heading now? The big question yet we’re still figuring out the answer. SMEs today in Malaysia are looking to invest in digital technologies within the next few years as the key enabler and contributors towards the digital economy. Back to the question again, has SMEs adapt and embrace the digital change? Are the steps taken for long term results? SMEs should remain as the backbone of the Malaysian economy and to do so, we have to act now before it’s too late. A renewed focus on innovation and digitalization is required for these companies to retain their global competitiveness.

How Does Your Business Rank

Stage 1:

Where is Small and Medium Enterprises (SMEs) heading now? The big question yet we’re still figuring out the answer. SMEs today in Malaysia are looking to invest in digital technologies within the next few years as the key enabler and contributors towards the digital economy. Back to the question again, has SMEs adapt and embrace the digital change? Are the steps taken for long term results? SMEs should remain as the backbone of the Malaysian economy and to do so, we have to act now before it’s too late. A renewed focus on innovation and digitalization is required for these companies to retain their global competitiveness.

Stage 2:

Businesses that are running on activities of digital transformation that includes demonstrating some strategic initiatives but some reasons, they are not yet streamlined or automated. Though decision-makers or leaders of the company have embraced digital transformation their effort is still not impacting across every function.

Stage 3:

Business that are successfully implemented numerous digital transformation activities. These initiatives are executed with impactful strategies and planning, and the result showed part of it is well-coordinated and streamlined. The digital leaders have shown a valid business impact and propelling leaders to become agile leaders has been recognized as a core organizational need.

Stage 4:

Business in this stage are been considered as the digital leader among their sectors and peers. 99% of their activities are undertaken strategically and most are fully streamlined and automated. Digital transformation has become a true value of company culture and leading to organizational agility as technology and markets shift. When any new technology arises, this organization will easily integrate into their existing system and process without hesitation.