Changes in the external business environment, for example, the emergence of new market needs, technological innovation, competition, force organizations to respond to adapt to new realities.
Currently, traditional corrective measures are often insufficient to quickly adapt to new conditions; in addition, changes in the external environment occur quite often, so organizations often have to re-engineer their business processes. In many cases, an organization’s ability to make rapid change comes from leveraging e-commerce capabilities.
Small businesses, as a rule, do not have the capital and human resources as large corporations, but they make up for this deficiency with significant investments in information technology. Small businesses are actively developing their websites, setting up intranets and using email almost as much as large businesses.
However, they are lagging behind in introducing new e-commerce capabilities. This is mainly due to the high costs of installing and maintaining e-commerce resources. Here, outsourcing is appropriate and economically justified for small businesses — the transfer of these responsibilities to specialized companies.
Recent studies have highlighted the importance and role of online systems in the design and implementation of SME strategies. Our Dinarys portal (https://dinarys.com/) has prepared for you the top 4 strategies for small businesses that are distinguished by their effectiveness.
- Better customer service: Online systems allow small businesses to expand the scope and range of services they provide to their customers. The quality of service is improving, consumers are provided with access to information about goods and their inventory.
- E-commerce: Online systems allow small businesses to set up an e-commerce system. This, in turn, gives SMEs access to broader markets without the additional cost of developing new distribution systems. It also gives SMEs the ability to quickly focus on narrow market segments ahead of large companies.
- Application of customer relationship management systems: online communication between SMEs and consumers significantly increases the speed of communication, making it almost instantaneous. And this, in turn, will increase the speed of service, expand the possibilities of customization, and the ability to establish trusting personal relationships with consumers.
- Expansion of business-to-business communications (extranet) by interconnecting corporate networks of various companies with subsequent interaction via the Internet: SMEs are able to act as intermediaries, providing connections between large companies and very small suppliers. SMEs struggling to compete in today’s globalized business environment can use most of the technology strategies originally designed for large businesses to do so.
Compared to large companies, SMEs that leverage the power of the Internet may even be more innovative, adapt more quickly, and adopt new business models, enabling them to quickly create and exploit a competitive advantage. For example, a new strategy for SMEs can be considered to be the use of information technology to improve customer service through online systems.
Strengthening B2B commerce is seen as another new strategy for SMEs. In general, small businesses are faced with such dramatic changes in the external environment that they are forced to either quickly adapt to them, or completely abandon the bulk of their business operations. Therefore, SMEs must continuously monitor and, where possible, take into account new business models that allow them to take full advantage of the existing and emerging technologies based on the use of Internet resources.
Only in this way can they maintain and increase their competitiveness. The willingness of small businesses to adopt new electronic technologies can also impact their ability to attract and retain talented new employees. SMEs should not forget that their limited capacity to improve their own staff can be made up for by the use of information technology, which is a good chance to maintain competitiveness.
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