A Study on Application of Web 3.0 Technologies in Small and Medium Enterprises of India

Abstract

The purpose of this study is to explore how small and medium enterprises in India has identified the opportunities and challenges in adopting the Web 3.0 technologies to improve their productivity and efficiency. After an in-depth literature review, researchers framed a semistructured questionnaire with open-ended questions for collecting responses from managers working in 40 Indian SME's representing five key economic sectors. The collected data was analyzed, and themes were encoded using the NVivo 11 computer-assisted qualitative data analysis software. Content analysis was used to analyze the data collected with the semi-structured interviews. This study identified five key themes and 12 subthemes illustrating the key advantages and challenges as perceived by the managerial leadership of SMEs. The five key themes identified in this study include integration of data and services, the creation of new functionalities, privacy and security, financial and technological challenges, and organizational challenges. The results of this study will benefit the organizational leadership of SMEs in planning and developing their short-term and long-term information systems strategies and will enable SME leaders to make optimal use of their information technology assets, improving the productivity and competitiveness of the firms. Web 3.0 technologies are considered as emerging technologies, so the advantages and challenges of using these technologies for SMEs have not been explored in the context of emerging economies, such as India.

Factors Affecting Adoption of Industry 4.0 by Small- and Medium-Sized Enterprises: A Case in Ho Chi Minh City, Vietnam

“…Factors have a positive significant relationship with adoption intention (IA) such as perceived ease-of-use (Agostini & Nosella, 2019;Erol et al, 2016;Wang Törngren, and Onori 2015;Wang, Wan & Zhang, 2016); Business resources (Potluri & Vajjhala, 2018;Ha, 2020); and conditions of the business environment (Yoo & Kim, 2018). Furthermore, consistent with the results of the current study (Amoako & Salam, 2004;Muchran & Ahmar, 2019) the impact of adoption intention and perceived enhance customer relationship have been clarified.…”

“…Perceived behavioral control reflects how easy or difficult it is to perform the behavior and whether the behavior is controlled or limited. In terms of the relationship between resources and application of technology in SMEs, Potluri and Vajjhala (2018) emphasized that to applicate technologies such as web 3.0, SMEs need to innovate because they have limited financial and human resources. Besides, Potluri and Vajjhala (2018) identified financial and technological challenges, as well as organizational challenges, which are key challenges that SMEs have to face when applying technology.…”

“…In terms of the relationship between resources and application of technology in SMEs, Potluri and Vajjhala (2018) emphasized that to applicate technologies such as web 3.0, SMEs need to innovate because they have limited financial and human resources. Besides, Potluri and Vajjhala (2018) identified financial and technological challenges, as well as organizational challenges, which are key challenges that SMEs have to face when applying technology. Besides, Ha (2020) found that factors in organizational culture have a positive correlation with the information system such as accounting in Vietnam SMEs.…”

Evaluating Organizational Characteristics Complementary With Enterprise Software Products

“…The effects of wide use of IT as a general purpose technology in enterprises can only be compared to the effects the steam engine and electrical motor had on the creation of goods (Bresnahan, 2003). As a consequence, implementation, deployment and maintenance of enterprise software pre-configured products are one of the key challenges managers need to address in order to stay competitive in the never ending search to find better ways of conducting business (Bartel et al, 2007;Basu & Fernald, 2007;Dedrick et al, 2013;Kleis et al, 2012;Rezende da Costa et al, 2018;de Santana et al, 2018;Neubert & Van der Krogt, 2018;Potluri & Vajjhala, 2018). The enterprise software pre-configured products that most often support business related tasks and processes are Enterprise Resource Planning (ERP), Supplay Chain Management (SCM), Customer Relationship Management (CRM), Business Intelligence (BI), and Big Data Analytics (BDA) (Gronwald, 2017).…”

“…First approach is based on the internal re-deployment of the managerial practices that are already used to manage other fields in the enterprise. Second approach, favored by the literature and the big international IT vendors (Markus & Tanis, 2000;Howcroft & Light, 2006;Microsoft Corporation, 2008Oracle Corporation, 2008SAP AG, 2008;SAP SE, 2015;Potluri & Vajjhala, 2018), is based on the deployment of "world-wide" industry "best practices" that international vendors of enterprise software and their local representatives sell as part of their pre-configured software products. Based on various empirical evidence published in the last decade one can't but acknowledge the success of big international vendors; the deployment of worldwide industry best practices integrated into international pre-configured enterprise software products established itself as the dominant way enterprises invest in IT in the world in general (Batenburg et al, 2006;Shaul & Tauber, 2013;Romero & Martínez-Román, 2015) as well as in Slovenia in particular (Slovenian Chamber of Commerce, 2004;Hovelja, 2008).…”