Cost Of Technology Adoption Research Articles

Strategy for Improving Business Performance in Micro and Small Enterprises through Innovation and Digitalization

This study aims to examine strategies for enhancing business performance in micro and small enterprises (MSEs) through the integration of innovation and digitalization. In an era where digital transformation has become critical for competitiveness, MSEs face unique challenges due to limited resources, constrained access to technology, and often limited technical expertise. Using a qualitative approach through library research and literature review, this study synthesizes current research on the role of innovation and digital adoption in boosting productivity, expanding market reach, and improving operational efficiencies in MSEs. Findings reveal that innovation and digitalization not only facilitate access to broader customer bases but also enable cost-effective marketing and streamlined operations. Additionally, the analysis indicates that overcoming barriers such as technology adoption costs and skill gaps is essential for successful digital transformation in MSEs. Supportive policies, digital literacy training, and partnerships with technology providers emerge as critical components to foster a conducive environment for these enterprises. The study contributes to the ongoing discourse by identifying key success factors for MSEs embarking on digital and innovative transformations. Furthermore, it provides recommendations for policy makers, business owners, and stakeholders to enhance MSE resilience and competitiveness in a digitalized economy. This research underscores the importance of aligning digital strategies with business goals to ensure sustainable growth and adaptation in a rapidly evolving market landscape.

Circular supply chain transformation: leveraging evolving technologies for enhanced performance

ABSTRACT Circular supply chains (CSC) and evolving technologies work together to enhance supply chain performance. To assess this, we examine the integration of technologies, such as Industry 4.0, smart manufacturing, and smart logistics in a CSC setup. The study focuses on two product types: smart and normal (non-smart) products. Smart products feature sensing, connectivity, networking, and monitoring capabilities, while normal products lack these features. Using a multi-objective optimisation technique, we analyse the CSC network to estimate the benefits of evolving technologies. The study aims to maximise profits and minimise carbon emissions across the supply chain. Eleven models are examined based on varying demand percentages of smart and normal products. The gamultiobj algorithm (a variant of NSGA II) is used to generate Pareto frontiers. The findings show that a 2-5% increase in technology adoption costs can boost profits by 15-30% and reduce emissions by 20-30% for smart products.

Navigating Digital Transformation in the UAE: Benefits, Challenges, and Future Directions in the Public Sector

Digital transformation is a process in which the latest technologies are used in various business fields to keep pace with continuous changes. It involves the strategic and profound integration of digital technologies into an organization’s core business operations, processes, and models. In this study, a quantitative approach was used to study the impact of DT adoption on public sector transformational change projects in the United Arab Emirates (UAE). The diffusion of innovation theory (DIT) and the unified theory of acceptance and use of technology model (UTAUT) were used in the factor analysis. This study highlights that digital transformation initiatives in the UAE have benefited from a strategic alignment with government initiatives, such as AI and blockchain strategies. However, public sector organizations face challenges, such as the high costs of technology adoption and cybersecurity risks during integration with legacy systems. The significance of social influence, including elements like use behavior and behavioral intention, was identified as essential for digital transformation, suggesting the importance of technology in job performance. Similarly, digital transformation projects improve IT competence and reduce resistance to change among leaders and individuals. The findings underscore the importance of investing in infrastructure and continuous IT training to sustain digital transformation. More studies are required across specific sectors to further explore the impact and scalability of DT initiatives in the UAE public sector.

Navigating The Digital Shift: Challenges And Opportunities For Traditional Retailers In India's Evolving Marketplace

The retail industry in India is experiencing a monumental shift driven by the rapid adoption of digital technologies. As e-commerce platforms, digital payment systems, and data analytics become increasingly integrated into the retail landscape, traditional brick-and-mortar stores find themselves at a crossroads. This digital transformation is not merely a technological upgrade but a fundamental change that reshapes business models, consumer interactions, and market dynamics. India, with its burgeoning internet penetration and widespread smartphone usage, presents a unique environment where digital innovation meets a diverse consumer base. The proliferation of global and local e-commerce giants such as Amazon, Flipkart, and JioMart has set new standards for customer expectations and operational efficiency, compelling traditional retailers to reevaluate their strategies (Invest India). However, the transition to digital is fraught with challenges. High costs of technology adoption, lack of digital expertise, and resistance to change are significant barriers that traditional retailers must overcome to remain competitive in the digital age

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The article explores creative management of business structures' competitiveness during the war and the recovery of Ukraine's economy. It substantiates the importance of implementing innovative solutions such as the Internet of Things (IoT), Artificial Intelligence (AI), and blockchain technologies, which help businesses adapt to challenging conditions and ensure efficient operations. It is found that innovative approaches contribute to optimizing production processes, reducing costs, and improving management practices, which enhances the competitiveness of Ukrainian businesses in both domestic and international markets. The research demonstrates that the use of technologies like IoT for production monitoring enables businesses to control production processes in real-time and reduce operational costs. Warehouse automation and the use of drones in logistics help minimize risks for workers and improve the accuracy of operations, which is crucial during wartime. This illustrates the ability of Ukrainian entrepreneurs to quickly adapt to new challenges and effectively utilize technological innovations to maintain business resilience. However, the implementation of innovations during wartime presents its own risks, including cybersecurity issues, high costs of technology adoption, and infrastructure instability. Despite these challenges, businesses that adopt creative solutions show readiness for change and ensure continuity of operations by employing strategic innovative management approaches. This allows them to function effectively in unstable conditions and lay the groundwork for long-term development. The article concludes that innovative thinking and creative management are key to enhancing the competitiveness of Ukrainian business structures in the challenging conditions of war and recovery. The adoption of the Internet of Things and other innovative solutions is a crucial factor for ensuring the sustainable development of businesses and Ukraine's economy in modern conditions. Keywords: creative management, competitiveness, innovative solutions, Internet of Things (IoT), Artificial Intelligence (AI), blockchain, business structures, Ukraine's economy, war, recovery, automation, risk management, digitalization

Analisis Penggunaan E-Commerce Bagi UMKM Di Era Digital

The development of digital technology, especially e-commerce, has brought significant impacts to Micro, Small and Medium Enterprises (MSMEs). This research aims to identify the benefits and challenges of using e-commerce for MSMEs, as well as strategies that can be implemented to optimize the use of this platform. The research method used is a literature study to analyze information related to the benefits, challenges, and e-commerce promotion-strategies for MSMEs. The research findings show that e-commerce provides significant benefits, such as sales and market growth, and operational efficiency. However, MSMEs are also faced with challenges, such as the cost of technology adoption, low levels of digital literacy, and data security issues. To overcome these challenges, effective e-commerce promotion-strategies, such as building strong digital infrastructure, improving digital skills, and facilitating the use of e-commerce platforms, can be applied. The implication of this study is the importance of support and guidance for MSMEs in adopting e-commerce to remain competitive in the digital era.

Integraton of the methanol power propulsion and energy systems’ temporal uncertainties in a Markov decision process framework

The ongoing technological development of methanol energy converters (EC) towards decarbonization means that their dimensions and performance characteristics will be continually updated during the lifecycle of vessels currently designed. These advancements influence the ease of EC integration within the general arrangement of the vessel. The decision to switch from an internal combustion engine to a fuel cell or a hybrid configuration depends both (1) the technology adoption costs (i.e. CAPEX, OPEX) of the EC and (2)on the effect of EC on the actual engine room layout. The state-of-the-art literature has typically addressed these two challenges separately. This study proposes a design method to bridge these two fields by combining the use of (1) Markov decision processes to assess uncertain future methanol EC developments during the vessel lifecycle and (2) a generative probabilistic layout algorithm to quantify the risks associated with the EC systems layout integration. The case study identifies the drivers behind the EC technology choice during the lifecycle of a notional yacht vessel.

The moderation of trust on the relationship between TOE factors and generalized audit software usage and financial performance

The importance of Generalized Audit Software (GAS) is particularly important for nations' development. Picking 'Over Conduct Theorized Results and Consequences' Poly GAS as a test subject, results have been inconsistent in previous studies on predictor variables and consequences of using GAS. This study aims to investigate the predictors and consequences of using GAS. From the perspective of Resource-oriented technology (Approach (TOE) fitness - View (RBV Environment), It is intended that technology's relative advantage, compatibility, and complexity, as well as organizational readiness top management support IS committee) Villa have an important influence on GAS, which in turn is expected to affect financial performance. Trust will serve as a moderating variable between technological and organizational factors, and GAS. Profession MB. This counts all audit firms in Jordan. The research questionnaire was distributed by purposive sampling for subsequent investigation. As many as 210 valid questionnaires out of all completed questionnaires were gathered from this study by using Smart PLS as the data analysis software. Technological relative advantage, compatibility, and complexity as well as organizational readiness (top management and organizational readiness) have a significant effect on GAS which in turn affects financial performance. Accepted Southern Trustor did not affect the impact of technology and organization factors in GAS. So, the results can provide some ideas to policymakers in Jordan about how to foster the use of GAS to improve financial performance and bring down the new technology adoption costs.

Renewable technology adoption costs and economic growth

In the presence of rapid technological progress, early technology adoption may result in large capital replacement costs. We develop an analytical Integrated Assessment Model that incorporates endogenous scrapping costs resulting from new technology adoption in renewable energy, as well as externalities associated with carbon emissions and renewable technology spillovers. We use our calibrated model to investigate the effects of the scrapping channel on renewable technology adoption and on the optimal energy transition. In the absence of a Pigouvian carbon tax, a second-best policy that incentivizes renewables through internalizing spillovers provides relatively small benefits and can even be detrimental to short-run growth. In contrast, the reduction in fossil fuel consumption resulting from internalizing technology spillovers is significantly larger if the Pigouvian tax is also in place. Comparing the status quo to the scenario where both policies are implemented results in a consumption-equivalent welfare gain of 1.4 percent. Our findings suggest that, in the presence of scrapping costs resulting from rapid technological progress, some caution might be warranted before concluding that direct subsidies are a suitable substitute for a Pigouvian carbon tax. When it comes to social welfare, carbon taxes and policies that promote renewables by eliminating spillover externalities are best thought of as complements rather than substitutes.

Blockchain-enabled digital asset tokenization for crowdsensing in environmental, social, and governance disclosure

Mobile crowdsensing has the potential to facilitate Environmental, Social, and Governance (ESG) disclosure in supply chain networks. Traditional crowdsensing involves smartphone users sharing information to fulfill specific tasks while maximizing their rewards. But, implementing crowdsensing for ESG demands (1) cost-sharing to support technology adoption by information providers, (2) tracking the ownership and use of information, and (3) tackling the drawback of monetary incentives. This study investigates a novel digital asset tokenization mechanism for crowdsensing in ESG disclosure. Its blockchain tokens can keep track of each user's identity and consumption behavior to deliver necessary symbolic incentives to the information or digital asset provider. We model the interaction between providers and users as a two-stage Stackelberg game to analyze the participants' usage levels and optimal investment in technology. The incentive mechanism considers various factors such as technology adoption costs, level of cost sharing, and symbolic incentives to reveal their impact on participant benefits. Moreover, we endogenize the cost-sharing to evaluate/study the factors influencing the ideal/optimal cost-sharing level from digital asset consumers. We find that an increase in reputation incentive per token stimulates token consumption, which leads to more significant payoffs for the participants. Conversely, increasing technology adoption costs decreases token consumption, leading to lesser profits for the participants. However, in the case of cost-sharing, there exists a unique level of cost-sharing before (after) which utility of DA consumer increase (decreases), i.e., an incentive mechanism built on endogenous cost-sharing exhibits a competitive advantage over exogenous cost-sharing in terms of the profit it delivers to the DA consumers.

The Convergence of IoT, Big Data, and International Logistics: Enhancing Supply Chain Efficiency

This paper explores the transformative convergence of the Internet of Things (IoT) and Big Data within the realm of international logistics, focusing on their collective potential to enhance supply chain efficiency. We delve into the IoT's foundational technology, its role in international logistics, and its adoption within China's logistics networks. Additionally, we examine the significance of Big Data analytics, its applications in supply chain management, and its specific utilization in China's international logistics operations. The paper also highlights the convergence of these technologies, emphasizing their impact on supply chain efficiency and data-driven decision-making. Privacy and security concerns, the cost of technology adoption, workforce training, and international cooperation are addressed as critical challenges. Finally, the paper presents policy recommendations and a forward-looking perspective on the future development of IoT, Big Data, and international logistics.

Metaverse and Public Health: Mini Review

The concept of the Metaverse, an immersive virtual reality and internet iteration, has garnered significant attention as a way to transcend physical limitations and create a dream-like world. This article explores the role of the Metaverse in healthcare, focusing on its applications in training, collaboration, communication, telemedicine, wellness promotion, and public health campaigns. The ability to create immersive virtual environments enables researchers to study disease outbreaks, develop prevention strategies, and educate healthcare professionals globally. Virtual health clinics and telemedicine platforms in the Metaverse can provide essential healthcare access to underserved areas, while virtual wellness programs promote health and well-being on a global scale. Furthermore, the Metaverse offers a unique platform for interactive public health campaigns, leveraging its immersive nature to engage users and advocate for positive behavior change. However, challenges such as data privacy, security, mental health implications, and the cost of technology adoption must be addressed. Despite these challenges, the Metaverse holds tremendous potential in transforming public health practices. Public health professionals and policymakers must stay informed about these developments and ensure the maximization of benefits while mitigating risks. As technology evolves, innovative applications of the Metaverse are expected to continue shaping the future of healthcare and public health.

Barriers affecting the green transformation process in healthcare organizations

ABSTRACT This paper aims to ‘identify’, ‘analyse’, and ‘categorise’ the barriers affecting the green transformation process in healthcare using Total Interpretive Structural Modelling (TISM) and MICMAC analysis. The TISM technique was utilized to determine how the components interacted and the green transformation process barriers criteria were ranked and categorized using the MICMAC method. This study identified 11 barriers to green transformation process in healthcare organizations. The key factors identified in this study are inadequate strategic planning, financial barriers, and high technology adoption cost, information barriers, international issues in healthcare environmental sustainability, lack of supportive atmosphere. The TISM technique for healthcare is proposed in this paper as a novel attempt to address the subject of green transformation process barriers. This research will aid key stakeholders and academics in the better understanding the barriers affecting the green transformation process in healthcare organizations.

The Effect of Financial Literacy, Cost of Technology Adoption, Technology Perceived Usefulness, and Government Support on MSMEs' Business Resilience

Objective - The Covid-19 pandemic has made MSMEs enter a crisis period that makes them the most vulnerable sector during a crisis. Given the vital role of MSMEs in economic stability, this study identified the drivers that shape the resilience of the MSME business, which is still not widely explored. This study elaborates on the role of knowledge-based financial literacy, financial resources and the cost of technology adoption from the financial side, TAM from the technology side, and external environmental factors in the form of government support as a driver of MSMEs' business resilience. Methodology/Technique – This study collected data from 339 MSMEs operating amid the Covid-19 crisis, and data analysis was carried out using the PLS-SEM technique. Finding – The results show that financial literacy positively affects financial resources and the cost of adopting technology from a financial perspective. However, only the cost of adoption directly affects business resilience, while financial resources have no effect. In terms of technological acceptance, perceived ease of use positively impacts perceived usefulness. However, only perceived usefulness directly affects business resilience, while perceived ease of use does not. Finally, government support positively affected business resilience during the pandemic. Novelty – This paper elaborates on the financial, technological, and government support aspects as an integrated framework to examine MSME resilience. Type of Paper: Empirical JEL Classification: M10, M15, M48, O33 Keywords: MSME Business Resilience, Financial Literacy, Cost of Technology Adoption, Perceived Usefulness, Government Support. Reference to this paper should be referred to as follows: Lestari, E.D; Hamid, N.A; Rizkalla, N Purnamaningsih, P; Urus, S.T. (2022). The Effect of Financial Literacy, Cost of Technology Adoption, Technology Perceived Usefulness, and Government Support on MSMEs' Business Resilience, GATR-Global J. Bus. Soc. Sci. Review, 10(3), 132–147. https://doi.org/10.35609/gjbssr.2022.10.3(3)

Renewable Technology Adoption Costs and Economic Growth

We develop a dynamic general equilibrium integrated assessment model that incorporates costs due to new technology adoption in renewable energy as well as externalities associated with carbon emissions and renewable technology spillovers. We use world economy data to calibrate our model and investigate the effects of the technology adoption channel on renewable energy adoption and on the optimal energy transition. Our calibrated model implies several interesting connections between technology adoption costs, the two externalities, policy, and welfare. We investigate the relative effectiveness of two policy instruments-Pigouvian carbon taxes and policies that internalize spillover effects-in isolation as well as in tandem. Our findings suggest that renewable technology adoption costs are of quantitative importance for the energy transition. We find that the two policy instruments are better thought of as complements rather than substitutes.

Turning Vulnerability into Resilience during Covid-19: Investigating Indonesian MSMEs Business Resilience Drivers

The Covid-19 pandemic that has spread since the beginning of 2020 is considered a "Black Swan" event because it appears unexpectedly, is difficult to predict and occurs not within the normal expected range and has a very extreme impact. The Covid-19 pandemic brought people to enter an era full of turbulence called VUCA, or stands for "volatile, uncertain, complex and ambiguous". The implementation of social mobility restriction policies to overcome the rate of viral infections led the community to enter a prolonged health, social and economic crisis. One of the worst affected sectors is MSME.In Indonesia alone, MSMEs have a significant role in the economy because they contribute 61.07% of GDP and absorb 97% of the total workforce (Kementerian Kordinator Bidang Perekonomian Republik Indonesia, 2021). However, the MSME Performance survey during the COVID-19 pandemic showed that during the pandemic, 94.69% of businesses experienced a decrease in sales, and 85.42% of MSME respondents also stated that their business was likely to last only one year since the pandemic took place (Lembaga Ilmu Pengetahuan Indonesia, 2020). The results showed that small and medium-sized enterprises (SMEs) are particularly vulnerable to failure in continuous shifts and unpredictable events (Pal et al., 2014), like Covid-19. SMEs are also the most affected in times of crisis and the least prepared of all organizations. Furthermore, the study of How SMEs prepare and respond to emergencies is still not much explored (Sullivan-Taylor & Branicki, 2011). Keywords: MSME Business Resilience, Covid-19, Cost of Technology Adoption, Technology Perceived Usefulness, Government Support

Institutional reform, technology adoption and redistribution: a political economy perspective

We examine technology adoption and growth in a political economy framework where two alternative mechanisms of redistribution are on the menu of choice for the economy. One of these is a lump-sum transfer given to agents in the economy. The other is in the form of expenditure directed towards institutional reform aimed at bringing about a reduction in the cost of technology adoption in the presence of uncertainty. The choice over these mechanisms is examined under three alternative approaches to collective decision making, namely a voting mechanism, and social planning with a Benthamite and Rawlsian social welfare function respectively. We find that the extent of uncertainty, and initial inequality, working through the political economy mechanism, have a positive impact on long run average wealth levels in the economy in all settings. All economies converge to the same inequality and growth rates in the long run; however, the speed of transition is fastest with the voting mechanism and slowest in the case of social planning with the Rawlsian social welfare function. Transitional inequality is highest in the Rawlsian framework, suggesting that egalitarian objectives in collective decision making do not necessarily correspond to egalitarian outcomes for the economy.

Renewable Technology Adoption Costs and Economic Growth

Renewable Technology Adoption Costs and Economic Growth

Digital adoption, automation, and labor markets in developing countries

We study how digital adoption by firms—a precursor to automation—shapes the labor market structure and worker outcomes in developing countries. Using a large sample of developing countries, we document a strong and negative link between firm digital adoption and self-employment rates. This relationship persists even after controlling for the level of development and other factors associated with the distinct employment structure of developing countries. In contrast, there is no link between digital adoption and unemployment rates. We develop a model with equilibrium unemployment, self-employment, endogenous firm entry, and information-and-communications technology (ICT) adoption, and show that positive linkages between the cost of technology adoption (and therefore technology adoption itself) and salaried-firm entry costs are crucial for rationalizing the empirical relationship between firm digital adoption and self-employment.

PNS193 MODELING ADOPTION AND OPTIMIZATION OF AUTOMATION SUPPLY CHAIN MANAGEMENT TECHNOLOGY WITH RFID (UHF) IN THE US ACUTE HOSPITAL SETTING

US hospital supply expenditures range from 15% - 40% of total hospital expenditures, depending on case-mix and hospital operating status. Economic modeling investigated the operational and organizational management of hospital supplies across procedural and nursing care areas for two scenarios; (1) manual or no technology to automated supply management technology and (2) automated technology optimized with RFID (UHF) capabilities. A literature analysis was performed using PubMed and Google from 2008 to 2018 with 38 relevant articles identified. Hospital supplies are managed and, or reimbursed differently, therefore five clinical settings were defined and modeled separately; operating room (OR), cardiac catheter lab (CCL), interventional radiology (RAD), emergency department (ED) and all other nursing care areas (NCAs). An average 300-bed hospital facility was estimated to have (10) OR suites, (2) CCL, (1) RAD, (1) ED and other NCAs. Technology acquisition and hospital implementation costs were also included for this analysis. The following benefits ranges were modeled; 3 - 10% utilization reduction on supply spend, 25% range of average missed changes captured to realize billable revenue and a one-time on-hand inventory optimization (10-12%). Data inputs came from literature, Definitive Healthcare, American Hospital Directory (reimbursement payer mix), and real-world practice engagements. Total hospital-system supply expenses estimated for the base-case was $23.9M and $1.9B annual revenue. Scenario 1 (automation adoption) resulted in $3.45M annual benefit. Technology adoption costs estimated at $290K/year. ROI break-even point at 6 months. Scenario 2 (RFID optimization) resulted in $1.34M annual benefit. Additional technology adoption costs estimated at $36K/year. ROI break-even point was 7 months. Hospital supply expenses represent significant costs for hospital systems, and supply management, from procurement to reimbursement, is complex. Hospital systems may engage a multi-year journey to adopt best practices, policies and technology requiring subsequently optimization at the device, staff or data management level to fully realize expected benefits.