Adoption of technology in relation to small medium-sized enterprises (SME) performance

Hazizy, Nurhazieyah Aqylah (2023) Adoption of technology in relation to small medium-sized enterprises (SME) performance. Project Report. Universiti Teknikal Malaysia Melaka, Melaka, Malaysia. (Submitted)

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Abstract

The ongoing transformation of conventional industries and the introduction of new technologies that are transforming economies and societies are referred to as the Fourth Industrial Revolution, or Industry 4.0 (IR 4.0). With the widespread use of artificial intelligence (AI), the Internet of Things (IoT), big data analytics, cloud computing, robotics, and sophisticated automation systems, IR 4.0 signifies a digital transformation of sectors. With the help of these technologies, massive volumes of data can be gathered, analyzed, and used to boost production, efficiency, and creativity in a variety of industries. Small and medium-sized businesses (SMEs) are essential for stimulating innovation and economicgrowth. The study examines the complex relationship that exists between SMEs performance and their adoption of technology. Considering the backbone of many economies, SMEs are not exempt to the paradigm shift that technology improvements are having on organizational dynamics in the modern business’s scene. The study takes an extensive approach, analyzing the varied impacts of technology adoption on different aspects of SME performance, such as operational effectiveness, financial viability, market competitiveness, and overall growth, using a quantitative methods research methodology. The research seeks to better understand the complex mechanisms through which technology adoption influences SME performance by integrating empirical data from a diverse sample of SMEs across various industries, accounting for factors like industry type, business size, and technological infrastructure. The purpose of this study is to examine how adoption of technologies affects the performance of SMEs. Beyond operational advancements, the deployment of technologies has several other advantages. Greater customer satisfaction, quicker order fulfilment, and fewer shipping mistakes can all result from more efficient packaging. The findings of this study are expected to have a significant impact on academic discourse, practical applications, and the understanding of how technology adoption can be strategically used to improve SME performance in the quickly changing digital era.

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