Digital Transformation as a Turnaround Strategy for Micro-Enterprises

Abstract

Micro-Enterprises are one of the major contributors to the nation’s GDP. Many reports and newspaper articles suggest that micro-enterprises are struggling to compete with modern technology and going forward technology-driven enterprises have a better edge to sustain in the market. So, the study A Study on Digital Transformation of Micro-Enterprises was undertaken. The Research aimed to study the current digital transformation position, problems faced by the micro-enterprises to integrate modern technology, factors influencing the drive, and finally to know whether the transformation has a positive effect on key performance indicators of enterprises. The study is of Descriptive Research type and Primary Data is used for the analysis. A questionnaire was designed to capture all the necessary primary sources of data and a survey has been conducted across the city of Shivamogga. The Study has found that most of the enterprises are in Level 1 of the transformation phase and the factors influencing the transformation and problems faced by the enterprises during this process. The report contains a few recommendations to improve the pace of transformation. Finally, the Study was successful, and the results shown in this report are reliable for future use.

Keywords

• Digital transformation, Micro-enterprises, MSME,