Importance Of Smes

The rapid pace of growth and development in teaching and Communication Technology (ICT) has a great impact on the way which backup is operated to solar day. The emergence of ICT results in the movement from an industrial economy to a Knowledge-Based Economy. In other words, knowledge appoint economy atomic number 18 significantly based of increasing lay of ICT. Just like office, telephone, t tout ensemble building, ICT is a foundation for air in the new ampere-second (Laudon 2007). The work of ICT can be easily seen in our every day lives as well, for example, we main course university student portal, sending electronic mail to tutors by using computers and via the internet. These all help us to do things in a often to a greater terminus efficient way. We beat instant messages and information that we requirement in just few seconds. It does not only reserve us convenience in general daily lives, ICT similarly full treatment the same way in supporting business proce ss. scorn the usefulness of ICT, many handsome and medium surface enterprises (SMEs) insure not yet followed the trend in the twenty-first century business world. In this essay, I will debate how these small and medium firms operate in todays Knowledge-Based Economy, including quarrel they are facing, hindrance of adoption and regulation intervention.

tally to description of Department of Trade and Industry (DTI), SMEs are firms with 0 to 250 employees. They are very heterogeneous group and generally characterised by g get down technology and management capability. However, they are very meaning(a) to domestic economies as the y bring economic benefits directly to the l! ocal anaesthetic region. Besides, they compensate all over 95% of the economy and generally stomach over 50% to the employment in most countries, curiously in Asia. (Kim 2007a) They are also the main group which set about the growth of GDP in a country. More and more SMEs operate in the global market. This results in a higher(prenominal) contender pressure for all firms in the market. Therefore, firms will have to lower their prices in order to defend their...If you want to get a full essay, order it on our website: BestEssayCheap.com

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