Digital transformation may be viewed as continuous improvement of business capabilities. There are many opportunities for SMEs to derive economic benefit from digital transformation. The IoT, big data analytics, AI, blockchains, 3D printing, etc. enable SMEs to create better products and services, innovate business models, reduce time to market, and build more integrated, flexible, responsive supply chains. Digitalization lowers transaction costs, provides easier access to information, and creates a level playing field where SMEs have opportunities to compete against larger firms with more resources. Digitalization also provides SMEs greater access to global markets, and newer cloud-based business models allow them to reach customers from anywhere, any time. Financing and access to global talent through digitalization are two additional opportunities for SMEs.

SMEs account for about 97% of developing Asian economies and 69% of national labor forces. However, according to the ADB report Asia Small and Medium-sized Enterprise Monitor (2020), the GDP contribution of SMEs is only 41%. They could therefore contribute more socioeconomic value through digitalization. However, SMEs encounter challenges due to a lack of awareness, capital, and digital skills. SMEs need digitalization to both survive and thrive. History suggests that crises such as the current pandemic bring out the best from startups and SMEs. SMEs in the grocery, healthcare, beverage, and IT support sectors have had success through digitalization during the COVID-19 pandemic.

This e-course aims to equip SMEs with the necessary digital toolkit comprising skillsets, mindsets, and strategy toolsets along with relevant frameworks and best practices necessary to succeed in the digital transformation journey in the new normal. The course will introduce key digital transformation technologies and discuss case studies illustrating the power of digitalization. It will also explain how digital technologies are relevant, useful, scalable, and economically viable. The course will take a human-centric view, allowing easy adoption of digital technologies in the context of SME operations.

Course Objectives:

The main objectives of this course are:

• Understand the “why, what, and how” of digital transformation by outlining business benefits and cost-effective implementation approaches enabling large-scale adoption by SMEs.
• Identify and apply key strategies, tools, frameworks, and factors that support sustainable, scalable, economically viable digitalization of SMEs.
• Introduce a human-centric view of digital transformation including cultural considerations within organizations which are often missed but needed for driving successful change management initiatives.
• Facilitate the initiation and sustainability of digitalization in SMEs to enhance productivity.