Leveraging 5G network for digital innovation in small and medium enterprises: a conceptual review
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Small- and medium-sized enterprises (SMEs) play a crucial role within a country’s economy
considering that they provide a source of skills and innovation for entrepreneurship
and their capacity for introducing, integrating and disseminating new technologies
is incomparable. However, the world may be looking at an impending devastating
recession delivered by the coronavirus pandemic. As governments intensify restrictions
on business to halt the spread of the pandemic, the fear of the virus also reconfigures
the very concept of business and the workplace. Therefore, there is a need for a greater
focus on digital transformation considering that physical distancing requirements to
curb the spread of this virus may become a cultural orientation for businesses and the
workplace. A real digital transition is anticipated for small businesses with the 5G network
technology. 5G network will not just be a technological connection but will affect
different socio-economic sectors and will stimulate innovation in small companies.
The goal of this paper was to carry out a literature review on the potential ways small
businesses can leverage on 5G network for digital innovation. The paper proposed
that small and medium businesses can leverage the 5G Mobile Technology through
enhanced interpersonal communication, expanded remote work opportunities,
innovative digital tools and supply chain efficiency. Finally, while many individuals and
small business owners will profit from 5G technology some will work to undermine it.
As a result, companies must keep this in mind when implementing 5G, or other new
technology, and adjust their security protocols accordingly to remain secure
Keywords
H Social Sciences (General)