The Development Path and Challenges of Digital Transformation of Small and Medium Sized-Enterprises-Taking Fat East and FAW-Volkswagen as Examples

Min Luo; Haoxiang Zhang

doi:10.54254/2754-1169/69/20231380

Research Article

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Published on 8 January 2024

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Luo,M.;Zhang,H. (2024). The Development Path and Challenges of Digital Transformation of Small and Medium Sized-Enterprises-Taking Fat East and FAW-Volkswagen as Examples. Advances in Economics, Management and Political Sciences,69,171-179.

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The Development Path and Challenges of Digital Transformation of Small and Medium Sized-Enterprises-Taking Fat East and FAW-Volkswagen as Examples

Min Luo ¹, Haoxiang Zhang *^,2,

¹ GXYZ International Course Center, Xi’an, China
² Economics and finance, International Business School XJTLU, Xi’an Jiaotong-Liverpool University, Suzhou, China

* Author to whom correspondence should be addressed.

https://doi.org/10.54254/2754-1169/69/20231380

Abstract

In recent years, the digital economy and artificial intelligence have relied on some digital technologies to develop rapidly. The world is also in the post-pandemic era of gradual economic recovery, and many companies want to achieve their own transformation through unique pathways. Being a significant driver of China's employment and economy, small and medium-sized enterprises should take the lead in completing digital transformation. This paper analyzes in detail from the three dimensions of development status, development path, obstacles and challenges, and selects some examples and real data queried from China Metrology and Testing Network for investigation. The survey results show that small and medium-sized businesses are still in the first half of the digital transformation road. In the meantime, they will encounter many problems in the process of transformation, such as weak digital technology foundation, talent shortage, capital chain obstacles, and low general awareness. In addition, the study finds that the government's collaboration with enterprises is an important measure to encourage the digital transformation of small and medium-sized companies. With the goal to encourage the digital transformation of small and medium-sized enterprises, the government and relevant departments should issue and implement corresponding policies to pave the way further effectively for enterprises. Enterprises should also actively exert their subjective initiative and take every step down-to-earth.

Keywords

Small and medium-sized enterprises, Digital transformation, Development path, Challenge

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About volume

Volume title: Proceedings of the 2nd International Conference on Financial Technology and Business Analysis

Conference website: https://2023.icftba.org/

ISBN：978-1-83558-269-5(Print) / 978-1-83558-270-1(Online)

Conference date: 8 November 2023

Editor：Javier Cifuentes-Faura

Series: Advances in Economics, Management and Political Sciences

Volume number: Vol.69

ISSN：2754-1169(Print) / 2754-1177(Online)

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