Shamayun Miah, is a senior executive and a management consulting leader with vast technology sector experience, presents his thoughts on digital technologies and innovative business models. Companies are hurrying to become digital due to the Covid-19 epidemic. Some companies see digital as technology, while others see it as a new approach to engaging with customers and partners.

The full article can be found here – Link.  Below is a machine generated summary of the article.  

What role do new digital platforms play in assisting small and medium-sized firms in their efforts to reinvent themselves?

The way individuals do business has changed dramatically in recent years. It is due to the introduction of advanced technology in the sector. Digital transformation has resulted in reinvention of corporate functions, front office design and new experiences. It also gave entrepreneurs, creative experts, and even non-tech individuals the chance to start their businesses.

Cloud computing, artificial intelligence, analytics, and automation are powering these new-age Digital Platforms, transforming the ways people purchase and sell goods and services.

What do you believe the primary driver of digital disruption is? How important is the term digital age?

One of the driving causes of digital disruption is the adoption of IT. Every firm must be digital to survive; else, it will perish. We have reached a new era known as the Digital Age. It is about building new value and business models, not just transactions or online purchasing.

What are the main obstacles these companies encounter implementing new digital platforms?

According to Shamayun Miah, digital platforms have made it easier for SMEs to compete with large corporations. Many difficulties will confront any firm, and there is no one-size-fits-all response. The most crucial thing for any organisation is to overcome such barriers is by utilising platforms and solutions.

Amazon Web Services, Google, Facebook, and Microsoft have established thousands of APIs and consumable services that SMEs can use. Every firm will need to become digital at some point – the disruption is impacting all industries!

What are the skills that an entrepreneur must have to expand their business?

Entrepreneurs are capable of inventing new products and services. You will be a successful entrepreneur if you can address a market need. Practical skills such as coding, design, and marketing, according to Shamayun Miah, should be taught over theoretical knowledge.

It will make you a well-rounded businessperson. Personal development, networking, and strategic thinking are all worthwhile investments. Overall, an entrepreneur must be innovative and creative.