the role of technology in determining small business success l.
Download
Skip this Video
Loading SlideShow in 5 Seconds..
The Role of Technology in Determining Small Business Success PowerPoint Presentation
Download Presentation
The Role of Technology in Determining Small Business Success

Loading in 2 Seconds...

play fullscreen
1 / 22

The Role of Technology in Determining Small Business Success - PowerPoint PPT Presentation


  • 1352 Views
  • Uploaded on

The Role of Technology in Determining Small Business Success Dr. Satyam Priyadarshy Chief Knowledge Officer Network Solutions, LLC Eric Akunda Vice President Network Solutions, LLC Prof. P.K. Kannan Director, Center for Excellence in Service Robert H. Smith School of Business

loader
I am the owner, or an agent authorized to act on behalf of the owner, of the copyrighted work described.
capcha
Download Presentation

PowerPoint Slideshow about 'The Role of Technology in Determining Small Business Success' - Faraday


An Image/Link below is provided (as is) to download presentation

Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author.While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server.


- - - - - - - - - - - - - - - - - - - - - - - - - - E N D - - - - - - - - - - - - - - - - - - - - - - - - - -
Presentation Transcript
the role of technology in determining small business success

The Role of Technology in Determining Small Business Success

Dr. Satyam Priyadarshy

Chief Knowledge Officer

Network Solutions, LLC

Eric Akunda

Vice President

Network Solutions, LLC

Prof. P.K. Kannan

Director, Center for Excellence in Service

Robert H. Smith School of Business

Charles Colby

President

Rockbridge Associates, Inc.

- Frontiers in Services Conference -

October 31, 2009

agenda
Agenda
  • Introduction to the SBSI
  • Internet Business Solutions and their Relationship to Success
  • How does Technology Help Small Businesses Succeed?

www.rockresearch.com

the research study
The Research Study
  • Telephone survey of America’s small business owners
  • Conducted semi-annually
  • Purpose is to track the competitive health of small businesses over time
  • Survey is sponsored by:
  • Survey is conducted by:
what is the sbsi
What is the SBSI?
  • SBSI is based on 28 questions and compiled into 6 distinct dimensions:
    • Capital Access
    • Marketing and Innovation
    • Workforce
    • Customer Service
    • Computer Technology
    • Compliance
  • The dimensions were identified through factor analysis (PCA) and have a high degree of reliability (Alphas range from .68 to .85)
  • Six dimension scores are combined and weighted based on their correlation with goal achievement
examples of index components
Examples of Index Components

How successful is your organization in each activity?

small business success index score card
Small Business Success Index Score Card

America’s Small Businesses Average a “C”

Most Challenging Areas for Small Businesses

Core Strengths

of Small Businesses

strengths and weaknesses of small business
Strengths and Weaknesses of Small Business

High

FOCUS HERE

Importance to Success

Low

High

Low

Success in the Area

the focus of the research is on internet business solutions
The Focus of the Research is on “Internet Business Solutions”

Fastest growing solutions

based on intentions to use

in the next 2 years

which technologies are most associated with small business success
Which Technologies are Most Associated with Small Business Success?
  • The strongest drivers of success are technologies that augment marketing or customer service, or help the business run more efficiently
  • Key technologies:
    • Search Engine Optimization (SEO) plan
    • Online advertising
    • Customer service area on website
    • Network for employees to share documents
  • A combination of technologies is more important than any single technology
business and owner traits of tech powered small business
Business and Owner Traits of Tech-Powered Small Business
  • Entertainment/food/lodging, professional services, and financial/real estate services
  • Larger sales: more likely to have $500K+ in annual revenue
  • Larger workforces: more likely to have 20 – 99 employees
  • Multiple locations
  • National/global trade coverage
  • More likely to be in industries that are growing and affected by globalization
  • Not much difference by age or gender
  • Tech-powered small business owners tend to be more educated

Business Traits

Environ-ment

Owner Traits

role of technology in achieving business goals
Role of Technology in Achieving Business Goals
  • Technology-powered small businesses are more successful in:
    • Increasing company value
    • Improving profit margin
    • Growing Revenue (perceived and actual)
  • Not much relationship to:
    • Minimizing costs
    • Reducing risks
    • Meeting owner income objectives
    • Growing at the right pace
    • Building owner wealth
    • Attractive lifestyle for owners
marketing innovation area is a struggle
Marketing & Innovation Area is a Struggle

Surprisingly, innovation is not easy for small businesses

}

Selling and marketing are challenging for more than half of small businesses

changes from december 2008 to june 2009
Changes From December 2008 to June 2009
  • The advantages of tech-powered businesses has moderated
  • A key factor may be the recession, which by June seriously affected almost ½ of small businesses in the U.S
  • As the economy improves, internet technology may be key to success by allowing them to market and service new customers efficiently
  • More analysis is needed in the future that takes into account the time variable
thank you for more info charles colby ccolby@rockresearch com 703 757 5213 x12

Thank You!For more info:Charles Colbyccolby@rockresearch.com703-757-5213, x12