MANAMA: Innovation and digitalisation are essential for small and medium businesses to grow while remaining competitive in today’s marketplace, a leading expert has said.
According to Harish Gopinath, partner and head of KPMG Enterprise at KPMG in Bahrain, a significant shift in customer behaviour has resulted from the impact of the pandemic on the marketplace.
Speaking during a seminar organised by the audit and advisory firm’s Entrepreneurship Forum at the Diplomat Radisson Blu Hotel, Residence and Spa, he shared findings of global survey by KPMG.
Rapid changes to customer behaviour and supply chain dynamics; combined with business disruption and the inability to adapt new digital technology, required for business continuity and employee engagement, were among the key challenges faced by companies, the study found.
“To move forward, we need to learn from the challenges we have experienced over the past two years and identify critical opportunities for growth,” Mr Gopinath said.
Strategy
Among guest speakers was Tamkeen chief strategist Dr Jarmo Kotilaine who shared insights on the importance of digitalisation in building a marketplace driven by productivity and efficiency, which have become the new main growth drivers.
He also presented the organisation’s new strategy and initiatives to support companies in the post-pandemic era.
Key lessons were shared with attendees by Hesham Al Saati, chief business officer at HungerStation, and Saleh Abbas, managing director of Flat6 Labs, about best practices driven by innovation that helped business leaders overcome challenges while maintaining and increasing profitability.
In addition, KPMG in Bahrain experts talked about strategy and digital transformation for entrepreneurs.
The forum was established by KPMG in 2015 to mentor and coach owners of SMEs, helping them grow their businesses and increase their positive impact within the local marketplace and national economy.
avinash@gdnmedia.bh
&uuid=(email))