Year: 2025
Type: article
Abstract: Small and medium-sized enterprises are essential to the Latin American economy, representing more than 99% of the business fabric and generating more than half of employment. They typically start out as family businesses, so it is important to analyze when a family business becomes an SME. For these businesses to adapt to the business model demanded by the new economy, it is necessary to implement and utilize new information and communication technologies (ICTs). From this perspective, the emerging Agile Management model may be the most appropriate model to implement. Agile methodologies emerge due to the rapid progress of technology and its demands, as traditional process methods needed to be abandoned and value created more quickly through human talent and its effectiveness. This also necessitates the application of adaptive strategies such as continuous learning and pivoting. Finally, by digitizing its operations by implementing emerging technologies such as AI, predictive analytics software, blockchain, and crowdsourcing, among others, organizations can achieve operational efficiency, allowing them to adapt quickly to market variations. thereby reducing costs, improving their social responsibility, increasing customer loyalty, and generally increasing their intangible capital, thereby improving their market value.
Authors: Marcos Vinicio España García, Carmen del Rocío España García, Martha Gabriela Ormaza Rosado
Institutions: University of Guayaquil, Universidad Estatal de Milagro
Language: English
Subfield: Management of Technology and Innovation
Domain: Social Sciences
Open Access status: hybrid
OpenAlex ID: W4414370862
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