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Title: What should SMEs do to succeed in today's knowledge-based economy? Electronic Commerce in Small to Medium-Sized Enterprises: Frameworks, Issues, and Implications
Authors: Wickramasinghe, Nilmini
Editors: Al-Qirim, Nabeel A. Y.
Other Authors: Sharma, Sushil
Gupta, Jatinder
Keywords: Knowledge Management
Knowledge-Based Economy
Small and Medium Enterprises
Electronic Commerce
Chair of Health Informatics Management, Epworth HealthCare, Victoria, Australia
Issue Date: 2004
Publisher: Hershey, PA: Idea Group Publishing
Abstract: The shift to a knowledge-based economy results largely from developments in information and communications technologies. Knowledge-based economies offer huge opportunities for small to medium-sized enterprises (SMEs) to develop entirely new high-value products and services, add value to existing products and services, reduce costs, develop new export markets, and add value to existing activities. Implicit promises include access to world markets, low-cost entry into new markets, and the ability to gain efficiencies in business processes. However, these promises may be illusory for most SMEs. Technological, organizational, and marketing hurdles are also making it more difficult for SMEs to succeed in knowledge-based economies. This chapter identifies those major factors that are hindering the success of SMEs in knowledge-based economies. The chapter then goes on to suggest a set of guidelines to make SMEs succeed in this new knowledge-based society.
DOI: 10.4018/978-1-59140-146-9.ch017
ISBN: 159140147X
Type: Chapter
Affiliated Organisations: Health Informatics
Appears in Collections:Health Informatics

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