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THE IMPACT OF THE DIGITAL ERA ON THE STRATEGIC MANAGEMENT OF THE SMEs
Abstract
The purpose of our research is to identify opportunities for improving the strategic management of small and medium enterprises (SMEs) by utilizing digital advancements. Our main objectives were: identifying the degree of adoption of digital technologies by SMEs in comparison with large companies; assessing responsiveness and the degree of adaptation to the digital SMEs management; formulating recommendations for strategically managing SMEs in the digital era. SMEs better adapting to the changes generated by the digital age is beneficial not only for their survival and development but also for economic growth and reduction of unemployment in developed and developing countries. The emergence of digital products and services creates new opportunities for enterprises and individuals alike an example of that bing the fact that for every job eliminated by the adoption of new digital technologies 2.6 new jobs are created [2]. The EU digital Agenda for 2020 states as one of the objectives that a minimum 33\% of SMEs sell online and 50\% of the population purchase goods or services online by 2020 [8]. As working methodology we used a questionnaire aimed to identify perceived obstacles in the adoption of digital instruments by SMEs. Following the interpretation of our results and also studying policies supporting the adoption of digital instruments in over 600 SMEs worldwide we proposed a number of relevant measures for improving the strategic management of SME's. Since the adoption of digital instruments is no longer a choice but a necessity [5]. SMEs need to innovate not only by offering products and/or unique services but also by adopting the latest technologies dynamically able to highlight their capabilities and possibilities. Many organizations have turned to the internet to facilitate and develop fast access to information and only then realized that the adoption of digital media could play a more important role in improving their entire activity [1].
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