SMEs' digitalization impact on economic development
Abstract
The accelerated development of information and communication technologies has caused notable changes in all spheres of life and business. In order to contribute to their own economic goals and the economy in general, companies are forced to embrace technological innovations. This study aims to test a hypothesis that the digitalization of business operations in small and medium-sized
enterprises (SMEs) positively influences economic development. Since the degree of digitization is a complex phenomenon, it is approached through several quantitative indicators. The data from the Eurostat database were used for the research. The analysis results obtained using the structural equations modeling confirm the positive relationship between the level of digitization of SMEs and gross domestic product (GDP).
Keywords:
Digitalization / Small and medium-sized enterprises / Economic developmentSource:
Book of Proceedings of the international conference on industrial engineering - SIE 2022, 2022, 213-216Publisher:
- University of Belgrade - Faculty of Mechanical Engineering
Funding / projects:
- Ministry of Science, Technological Development and Innovation of the Republic of Serbia, institutional funding - 200105 (University of Belgrade, Faculty of Mechanical Engineering) (RS-MESTD-inst-2020-200105)
- Development of a stochastic model for determining the elements of production cycle time and their optimization for serial production in metal processing industry and recycling processes (RS-MESTD-Technological Development (TD or TR)-35017)
Collections
Institution/Community
Mašinski fakultetTY - CONF AU - Stojanović, Anđelka AU - Milijić, Nenad AU - Milošević, Isidora AU - Mihajlović, Ivan PY - 2022 UR - https://machinery.mas.bg.ac.rs/handle/123456789/4851 AB - The accelerated development of information and communication technologies has caused notable changes in all spheres of life and business. In order to contribute to their own economic goals and the economy in general, companies are forced to embrace technological innovations. This study aims to test a hypothesis that the digitalization of business operations in small and medium-sized enterprises (SMEs) positively influences economic development. Since the degree of digitization is a complex phenomenon, it is approached through several quantitative indicators. The data from the Eurostat database were used for the research. The analysis results obtained using the structural equations modeling confirm the positive relationship between the level of digitization of SMEs and gross domestic product (GDP). PB - University of Belgrade - Faculty of Mechanical Engineering C3 - Book of Proceedings of the international conference on industrial engineering - SIE 2022 T1 - SMEs' digitalization impact on economic development EP - 216 SP - 213 UR - https://hdl.handle.net/21.15107/rcub_machinery_4851 ER -
@conference{ author = "Stojanović, Anđelka and Milijić, Nenad and Milošević, Isidora and Mihajlović, Ivan", year = "2022", abstract = "The accelerated development of information and communication technologies has caused notable changes in all spheres of life and business. In order to contribute to their own economic goals and the economy in general, companies are forced to embrace technological innovations. This study aims to test a hypothesis that the digitalization of business operations in small and medium-sized enterprises (SMEs) positively influences economic development. Since the degree of digitization is a complex phenomenon, it is approached through several quantitative indicators. The data from the Eurostat database were used for the research. The analysis results obtained using the structural equations modeling confirm the positive relationship between the level of digitization of SMEs and gross domestic product (GDP).", publisher = "University of Belgrade - Faculty of Mechanical Engineering", journal = "Book of Proceedings of the international conference on industrial engineering - SIE 2022", title = "SMEs' digitalization impact on economic development", pages = "216-213", url = "https://hdl.handle.net/21.15107/rcub_machinery_4851" }
Stojanović, A., Milijić, N., Milošević, I.,& Mihajlović, I.. (2022). SMEs' digitalization impact on economic development. in Book of Proceedings of the international conference on industrial engineering - SIE 2022 University of Belgrade - Faculty of Mechanical Engineering., 213-216. https://hdl.handle.net/21.15107/rcub_machinery_4851
Stojanović A, Milijić N, Milošević I, Mihajlović I. SMEs' digitalization impact on economic development. in Book of Proceedings of the international conference on industrial engineering - SIE 2022. 2022;:213-216. https://hdl.handle.net/21.15107/rcub_machinery_4851 .
Stojanović, Anđelka, Milijić, Nenad, Milošević, Isidora, Mihajlović, Ivan, "SMEs' digitalization impact on economic development" in Book of Proceedings of the international conference on industrial engineering - SIE 2022 (2022):213-216, https://hdl.handle.net/21.15107/rcub_machinery_4851 .