Question: Question 1 [ 4 0 marks ] 1 . 1 According to the TechFinancial onfine publcation, most businesses increasingly embrace digital technology to streamine operations,
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According to the TechFinancial onfine publcation, most businesses increasingly embrace digital technology to streamine operations, improve business processos, and deliver hetter results. The CoVID pandemic presented both challonges and apportunitins for businesses at all levela. Smal and medium businesses, for example, suffered because of the lockdown restrictions, which came unexpectedly, especially given the low usage of dipital technology by many operators in this catogory. As the pandemic prolonged. businesses needed to innovate to survive. Many small and medium businesses started to embrace and use digital technology to leverage their resources and sustain their survival and competitive advantage.
In light of the TechFinancial online publication, which highlights the increasing adoption of digital technology by businesses for operational efficiency and resilience, analyse five specific ways small and medium enterprises SMEs are leveraging digital technologies in response to the challenges and opportunities presented by the COVID pandemic. Discuss these five ways, considering SMEs' innovative strategies to streamline operations, improve business processes, and maintain competitiveness.
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