ROLE OF DIGITALIZATION AND BUSINESS MODEL CANVAS IN RESILIENCE OF SME'S DURING COVID-19 PANDEMIC

Covid-19 pandemic is badly affected on businesses including SMEs during this era SMEs has faced many challenges, its visiting be financial and financial challenges. Their response to the present disruption impacted their resilience and their chances to beat this crisis. The aim of study is to clarif...

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Bibliographic Details
Published in:RIMS Journal of Management 2022-01, Vol.6 (1), p.1-13
Main Authors: Hemalatha, J, Shekhar, B
Format: Article
Language:English
Subjects:
Business models
Coronaviruses
COVID-19
Digital technology
Disease transmission
Economic activity
Epidemics
Pandemics
Recessions
Severe acute respiratory syndrome coronavirus 2
Shutdowns
Small & medium sized enterprises-SME
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Summary:Covid-19 pandemic is badly affected on businesses including SMEs during this era SMEs has faced many challenges, its visiting be financial and financial challenges. Their response to the present disruption impacted their resilience and their chances to beat this crisis. The aim of study is to clarify business model applied for SMEs during COVID-19 pandemic for Digitalization and Business Model Canvas approach, so SMEs survives (Business Resilience). Digitalization and Business Model Canvas plays vital role in business resilience of SMEs during covid-19 pandemic and it helps to beat problems. The right digitalization strategy is required to realize business goals, developing SME products and services being more competitive. Three elements of business resilience are product excellence, people behavior and process reliability. Business resilience is supported by digital transformation. They're organized with Business Model Canvas and can be considered useful for academia practitioners. The highly unpredictable environment allows few feasible strategic approaches with SME's decision to follow incumbents. Become challenger and reinvent them supported their own transformation drivers and readiness to use digital technologies. This study uses qualitative method with secondary data to review of literature, websites, journals and articles. The objectives of the study know the impact of covid-19 pandemic on SMEs and identify the challenges, problems faced by SMEs during covid-19 pandemic. To test roles of DTs, business model canvas in SMEs business resilience. These are the foremost concentrated factors to test without digitalization and BMC. SMEs are difficult for long period survive (Business Resilience). Improvements in production, human resource, service, marketing, sales etc., needs new technologies.
ISSN:2455-1449