Question

Discuss the benefits and challenges of digital technologies with regard to the micro
business ideas?

Answer 1

Below are the benefits and challenges of digital technologies with regard to the micro business ideas -

Benefits

1. Digital technologies in micro businesses help to ease the business with enhanced UIs on websites

2. Digitalization provides flexibility and increases task automation thus saving time and costs for micro businesses

3. Digital Technologies help the firm grow through increased collaboration with customers, suppliers etc.

4. Digital technologies provide

Challenges

1. Digital Technology implementation would require investments which is difficult to manage for small businesses

2. Digital Technologies might fail to provide value if not implemented by the right experts