EVALUATING THE IMPACT OF DIGITAL TRANSFORMATION & INNOVATION MANAGEMENT STRATEGIES ON SMEs PERFORMANCE IN THE EMERGING ECONOMIES

Abstract

This study aims to examine the profound effects of digital transformation strategies encircling digitization strategies and usage, alongside innovation management focusing on organizational, product and process innovations on performance of Small and Medium Enterprises (SMEs) operating within emerging economies. Employing a quantitative research approach, data were collected from the sample size of 300 managers representing various SMEs across multiple sectors within the emerging markets. Findings revealed significant & positive correlation between adoption of robust digitization strategies and enhanced SME performance. Also, effective implementation of innovation management practices, including organizational, product, and process innovations, displayed the strong positive association with the improved SME performance indicators. The study's outcomes underscore critical role played by strategic digitization and innovation management within SMEs operating in emerging economies, emphasizing the need for proactive adoption and effective utilization of the digital strategies and innovative practices to foster growth & competitiveness in these dynamic markets.