APRILASIA BUSINESS OUTLOOK9HOW SME'S CAN CREATE & CAPTURE VALUE IN EMERGING MARKETS ON A SHOESTRING BUDGETIMPRESSIONSThere is no doubt emergence of digital technologies & innovation has bought revolution from large to small sized industries. Digitization refers to the procedures that industries use to conceptualize the latest innovation, ideas and the products and make the process go advance in a novel way. Working in an innovation, which is called a planned modification in the organization's actions, is to improve the growth & performance. To respond to the challenging environment, business organizations pay attention to frugal innovation and the Internet of things. When it comes to large scale industries, there is no doubt they have a large number of employees a good budget to spend on technologies they need. What about small and medium-sized businesses?On a shoestring budget, how can SME'S CAN create, capture, as well as compete in the emerging markets? The answer is via implementing frugal innovation into their business models. Frugal innovation has changed the way businesses operate, shifting from traditional to more innovative methods, and such transformation of business operational activities is entirely reliant on advanced digital technologies, including the IoT mechanism. Industry 4.0 is the most recent phase of the industrial revolution, with a strong emphasis on automation, real-
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