Digital Remedy: A Prophylaxis for Business Failure in Emerging Markets
The introductory phase is a critical stage in the growth and development of any small business. Past studies have reported a high mortality rate of SMEs within the first few years of commencing business operations. With the advent of technology in the rapidly advancing business scenario, digital t...
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| Main Authors: | , |
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| Format: | Article |
| Language: | English |
| Published: |
Ovidius University Press
2025-02-01
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| Series: | Ovidius University Annals: Economic Sciences Series |
| Subjects: | |
| Online Access: | https://stec.univ-ovidius.ro/html/anale/RO/2024i2/Section%201%20and%202/15.pdf |
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| Summary: | The introductory phase is a critical stage in the growth and development of any small business. Past
studies have reported a high mortality rate of SMEs within the first few years of commencing business
operations. With the advent of technology in the rapidly advancing business scenario, digital tools and
strategies are increasingly identified as essential for business survival and growth. Methodologically,
the study adopted secondary data to proffer an all-inclusive and comprehensive technique to
comprehend how digital remedies can be prophylaxis (preventive measure) against business mortality
using secondary data from academic journals, industry reports and peer-reviewed articles on digital
transformation and highlighted causes of business failures. This study forms a bedrock for a more indepth analysis of digital resolutions, such as data analysis, artificial intelligence AI, automation, cloud
computing, digital marketing, and advertisement, as prophylaxis or preventive measures for common
causes of business failure. The findings of a more comprehensive study will provide insight for
stakeholders desiring to alleviate risks, enhance operations, and remain competitive in an ever-evolving
digital economy. |
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| ISSN: | 2393-3127 |