Technology Adaption As Survival Strategy For Small And Medium Enterprises During COVID-19

Abstract

Globally, business and operational capabilities of Small and Medium Enterprises (SMEs) have been enormously affected by the Covid-19 pandemic, forcing many to use technology and innovation rather than the more traditional methods of operations. Although we do not yet know to the extent to which Oman’s SMEs have adopted these technological transformations, we investigate this, and assess the impact of it, in this study. We empirically examine how Covid-19 accelerated technology use in the SMEs in Oman and test nine hypotheses applying paired t-test and Pearson correlation. The results show strong correlations between technology use before and during Covid-19 (r = .823, p < 0.01); technology use during Covid-19 and in future (r = .659, p < 0.01); and technology use before Covid-19 and in future (r = .612, p < 0.01). We conclude that this use of technology has been a survival strategy during the pandemic and that highly digitized SMEs are more likely to adopt Industry 4.0 technology.

Innovation Strategy and SME Survival: The Role of Organizational Adaptability

“…Organizational adaptability is essential for implementing innovative practices effectively (Kodama, 2019). It enables firms to respond promptly to market changes and uncertainties, sustaining their competitive position and survival (Mishrif & Khan, 2023). This suggests that organizational adaptability may mediate the effect of innovation strategy on SME survival.…”

Sustainability of Small and Medium Enterprises (SMEs) and Marketing Insights on the Critical Success Factors for the Sales Sector of Oman

“…This is because of the lacking training skills and the useless tools technology. The enterprise capabilities are performing the feasibility of financial management that is included with marketing and effective operational management (Mishrif & Khan, 2021). Allocation of the specific products and the market needs with the demand of sales sectors is interconnected with the useful managerial skills that are part of critical success factors in Oman (Ghouse et al, 2019).…”

An overview on the crucial nature of innovation strategies for sustainable businesses

“…Innovation and technology have been the forerunners in keeping the SMEs alive and sustainable. Technology adoption is viewed as a sustainable business strategy for the SMEs, specifically after the outbreak of COVID-19 (Mishrif and Khan, 2023).…”