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ACADEMIA Letters How Digital Communication Accelerated and Internationalized the MSMEs During Covid-19 Siamuden Pasarly Dr. Priti Verma, Sharda University Abstract Digital Communication has brought a paradigm shift in all the spheres of life, and Micro, Small, and Medium-sized Enterprises (MSME) are not an exception to this. The MSMEs so-called growth engine of the economy not only play a vital role in the GDP growth of the countries but also push forward the world economy and development, contribute to Employment Generation, Mastering Creativity, and help personal independence. The study indicates that digital communication improved the contribution of MSMEs to over 55% of GDP and over 65% of total employment globally. Covid 19 pandemic accelerated and internationalized the MSMEs via Digital Communication. Besides the positive impact and fast growth, there are many obstacles ahead. This article addresses the opportunities and challenges; and provides recommendations for young entrepreneurs, government policymakers, and Business Communities. Key Words: Digital Communication, MSMEs, Covid-19, Internationalization, Business Acceleration, Market linkage Academia Letters, July 2021 ©2021 by the authors — Open Access — Distributed under CC BY 4.0 Corresponding Author: Siamuden Pasarly, siamuden2009@gmail.com Citation: Pasarly, S., Verma, D.P. (2021). How Digital Communication Accelerated and Internationalized the MSMEs During Covid-19. Academia Letters, Article 2365. https://doi.org/10.20935/AL2365. 1 Introduction MSMEs are the driving Engines or backbone not only of economic but also of overall developments of countries. Digital Communication contributes to MSMEs in multiple ways like generating new kinds of employment, supporting sustainable growth, linking national and international markets, facilitating entrepreneurship development, creating and maintaining customer relationships, increasing Business to Business (B2B) cooperation national and international wide. Recently a considerable part of MSMEs disturbed by the covid 19 pandemic. However, exceptional businesses overcame covid 19 and captured the national and international markets by using digital Communication channels, changing their business approaches, and advancing customer relationships. Further, Covid 19 pandemic also changed the customer’s beliefs and persuaded them to use a digital method of purchasing and dealing. Thus Covid 19 shaped the businesses and customer dealing and digitalized the transactions. Covid-19 and Economy In December 2019 originated Covid 19. It spread like jungle fire across the world and was declared a Pandemic. The Pandemic had a damaging impact on many small and medium businesses and left a destructive impact on the world economy. Still, several Asian and Western counties are under Covid 19 attack. To fight the Pandemic’s impact on the economy, these countries made efforts at various levels. On the one hand, efforts made at government levels; on the other hand, the private sectors, specifically the small and medium enterprises, contributed a lot. Digital Communication, MSMEs and Internationalization Since the 1990s, digital communication and technology have played the most significant role in linking domestic businesses and the international market. Communication advancement has an incredible impact on economic growth, media globalization, thoughts, and cultures. Firms can establish hybrid relational strategies to promote and bypass the domestic market and enter the international market environment quickly. On the other hand, digital communication increased inter-organizational and customer trust and commitment by replacing humans with AI. Accessing more data and information is another opportunity for business people to find more customers and business partners, entering foreign or cross-border markets, and developing specific and target-based communication strategies. Technology mediates between customers and corporates to get to know each other better and have good familiarity. Academia Letters, July 2021 ©2021 by the authors — Open Access — Distributed under CC BY 4.0 Corresponding Author: Siamuden Pasarly, siamuden2009@gmail.com Citation: Pasarly, S., Verma, D.P. (2021). How Digital Communication Accelerated and Internationalized the MSMEs During Covid-19. Academia Letters, Article 2365. https://doi.org/10.20935/AL2365. 2 Digital Communication and information impacted the MSMEs’ environment and strategies. The main three topics which had more impact on the International Market Linkages: First the universality of Data-Rich Marketing environment (DRM), second, Marketing Automation (MA), and third AI (Artificial Intelligence). The improvements mentioned above had vast implications for developing commitment and trust in customer and enterprise relationships and increasing the firms’ knowledge and information. Digital Communication provides massive information for businesses and customers via the internet, and innovative companies collect, integrate, capture, and uses this information for multiple purposes. The information and data provide an excellent opportunity for the organizations to develop national and international marketing strategies, build their networks, and promote their brands internationally according to customer behavior, demand, and mindset. Marketing Automation (MA) changed the traditional Marketing approaches by collecting information from different sources and then sharing it with companies to develop their content accordingly. MA provides this opportunity to personalize or customize mixed marketing elements to focus on customer segments and manage tools and channels. Customers respond only to personalized or customized offers with great engagement in the digital era because of the relevant and personalized marketing content and information. Furthermore, artificial intelligence (AI) is a great supporter of MSMEs to enter the International Market practically. AI enhances inter-organizational trust and obligation by replacing customer services agents and sales clerks. Digital Communication and MSMEs During Covid-19 In fact, in one way, the fastest-growing period for the digital small and medium enterprise was 2020 to 2021. Since December 2019, businesses through Digital Communication are leading and controlling the world economy. Digital Communication transformed customers’ beliefs and business dealings and working. The MSMEs created online ordering and delivery systems; customers started online shopping, using online banking and transaction instead of cash, virtual meetings, and more. However, the businesses that could not adapt themselves to technology and digital communication flopped or closed down. Acceleration of Innovation and Creativity These businesses worked day and night to fight this Pandemic by creating different channels to communicate with Customers and Businesses and entering into new businesses like masks, Academia Letters, July 2021 ©2021 by the authors — Open Access — Distributed under CC BY 4.0 Corresponding Author: Siamuden Pasarly, siamuden2009@gmail.com Citation: Pasarly, S., Verma, D.P. (2021). How Digital Communication Accelerated and Internationalized the MSMEs During Covid-19. Academia Letters, Article 2365. https://doi.org/10.20935/AL2365. 3 sanitizers, ventilator manufacturing, online medical assistance, etcetera. It means that Pandemic accelerated innovation and Creativity paved the way for communication via technology and enabled Small and Medium enterprises to overcome the problems. Digital Communication, MSMEs and International Business during Covid-19 Digital practices boosted international business development, international trade, linked domestic companies to the International market, shaped the global business climate, relationships, International market linkages, and hybrid approaches. Internet-facilitated digital communication and opportunities for MSMEs and MSMEs positively impacted business and economic growth worldwide. IT, communication, and Logistics advancement shrank distance among different nations and assisted in global business integration. Meeting the customer needs became the main factor that enabled the enterprises to go beyond the borders and enter the International Market. Most of the MSMEs tittle-tattled innovative, intelligent, professional, technical, knowledgebased, technology-friendly, and creative businesses, because of their fast growth and new adoption with the changes in the current world, could survive the Pandemic. For survival and existence in the New Normal, Small and Medium Enterprises had to revise their communication strategies and work intensely and innovatively on Customer Relationship Management (CRM) systems to enhance customer satisfaction, build and maintain customer relationships positively. The companies who managed to deal beyond federal limitations or boundaries with the help of the updated information, advanced communication, up-to-date transportation technologies, scalability and growth of the internet, and increasing social media usage; are emerging as future-oriented companies fit for existing in the New Normal. The mentioned digital improvement has broken the barriers and facilitated more opportunities. Small and mediumsized firms with swiftness, adaptability, flexibility to accomplish opportunities, a vision for the New Normal, and the capability to provoke and face challenges in the international market are more effective and efficient than ever before. Digital Communication and technology provided excellent facilities to connect these small and medium businesses with international buyers, partners, targeted customers, and communicate with clients in any part of the globe. Furthermore, the current digital environment persuades MSMEs to have an active role in the international market and deal with customers without any political, economic, cultural, or other discrimination or differences; collecting information and data about the global market, customers, opportunities, and challenges are easy to access now. Academia Letters, July 2021 ©2021 by the authors — Open Access — Distributed under CC BY 4.0 Corresponding Author: Siamuden Pasarly, siamuden2009@gmail.com Citation: Pasarly, S., Verma, D.P. (2021). How Digital Communication Accelerated and Internationalized the MSMEs During Covid-19. Academia Letters, Article 2365. https://doi.org/10.20935/AL2365. 4 These changes are also called the “Fourth - Industrial - Revolution” 4.0 industry, the new economy, or the digital age. The main relevant features for international business studies, which suggest as a characterizing the digital age, include: the decentralization of organization, specialization, vertical disintegration, modularity, flexibility, accelerated knowledge creation, diffusion or exchange, complexity, and knowledge increment; furthermore, other features include inter-organizational collaboration, directness, different types of networks, industrial technology, and new business models. All these are backed by digital communication. Challenges amidst Opportunities The mentioned characteristics led the traditional environment of MSMEs to the digital era or network economy. The latest technological innovative wave in institutional settings shows changes beyond the borders in the mechanisms responsible for standardization, protection of intellectual property rights, and the condition of institutions fostering Creativity. As technology brought many changes, it challenges the regulations, policies, and strategies as well. Suppose we compare the first years of the twenty-first century. Digital Communication has fast grown and almost reached every part of the world and raised regulatory and competitive stakes. The current international business market requires effective trade and industrial policies, regulations, measures of liberalization, and privatization. Conclusion and Recommendations Thus, The Covid 19 Pandemic challenged almost all aspects of life, society, business, and the overall environment. Its wake improved multiple dimensions, particularly innovative communication and Micro, Small, and Medium businesses. Digital Communication is an advanced method for micro, small and medium businesses to access national and international markets. The MSMEs which adopted themselves with digital communication and changes are growing well and will have a successful future, unlike those who do not assume. According to the current business environment, demand, and global market practices, these MSMEs need to develop modern strategies to revisit the national and international markets. However, it is essential to mention that besides excellent benefits and opportunities, technology base relationships are less friendly, less effective, task-oriented, and less cooperative than face-to-face relationships. Academia Letters, July 2021 ©2021 by the authors — Open Access — Distributed under CC BY 4.0 Corresponding Author: Siamuden Pasarly, siamuden2009@gmail.com Citation: Pasarly, S., Verma, D.P. (2021). How Digital Communication Accelerated and Internationalized the MSMEs During Covid-19. Academia Letters, Article 2365. https://doi.org/10.20935/AL2365. 5 References Watson IV, G.F., Weaven, S., Perkins, H., Sardana, D., and Palmatier, R.W., 2018. International market entry strategies: Relational, digital, and hybrid approaches. 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Academia Letters, Article 2365. https://doi.org/10.20935/AL2365. 6