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Impact of Emerging Technologies on the Disparity Between Micro, Small, Medium, and Large Businesses: An Exploratory Study

In: Financial Markets and Corporate Finance

Author

Listed:
  • Vikas Kumar Tyagi

    (Department of Management Studies, Panipat Institute of Engineering and Technology)

  • Ruchi Gahlawat

    (Indian Institute of Management)

  • Tushar Singla

    (Department of Management Studies, Panipat Institute of Engineering and Technology)

  • Mansi Gupta

    (Department of Management Studies, Panipat Institute of Engineering and Technology)

Abstract

This exploratory study investigates how emerging technologies impact the competitive landscape across industries, focusing mainly on Micro, Small, and Medium-Sized Enterprises (MSMEs) and Large Enterprises (LEs). Using data from five focus group discussions with academicians from management and technology, the researchers explore how MSMEs and LEs can leverage emerging technologies to gain a competitive edge while mitigating the existing disparity between them. The study predicts a significant impact of emerging technologies across various sectors, but the most significant impact was found in the healthcare sector. While the overall benefits are anticipated, some industries may also encounter challenges. In both the public and private sectors, these technologies can enhance service delivery, reduce costs, boost social inclusion, and drive innovation. For MSMEs, automation and operational streamlining through emerging technologies offer cost reduction and improved efficiency. LEs can leverage them for personalized offerings and exceptional customer service to stand out. This study further highlights the potential for MSMEs to bridge the disparity with LEs through cost reduction and productivity gains. Recommendations for organizations include formulating a technology strategy, investing in training and development, fostering partnerships, and implementing robust cybersecurity protocols to navigate the evolving landscape of emerging technologies.

Suggested Citation

  • Vikas Kumar Tyagi & Ruchi Gahlawat & Tushar Singla & Mansi Gupta, 2024. "Impact of Emerging Technologies on the Disparity Between Micro, Small, Medium, and Large Businesses: An Exploratory Study," Springer Proceedings in Business and Economics, in: Shveta Singh & Sonali Jain (ed.), Financial Markets and Corporate Finance, chapter 0, pages 289-306, Springer.
    • Handle: RePEc:spr:prbchp:978-981-97-6242-2_15
    DOI: 10.1007/978-981-97-6242-2_15
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