Doctoral Candidate and MBA Program Manager at WFI - Ingolstadt School of Management, KU Germany
๐๐ก๐ ๐๐ข๐๐๐๐ง ๐๐ง๐ ๐ข๐ง๐๐ฌ ๐จ๐ ๐๐ฅ๐จ๐๐๐ฅ ๐๐ซ๐จ๐ฐ๐ญ๐ก. ๐๐๐ฅ๐๐๐ซ๐๐ญ๐ข๐ง๐ ๐ญ๐ก๐ ๐๐จ๐ซ๐ฅ๐ ๐๐ข๐๐ซ๐จ-, ๐๐ฆ๐๐ฅ๐ฅ, ๐๐ง๐ ๐๐๐๐ข๐ฎ๐ฆ-๐ฌ๐ข๐ณ๐๐ ๐๐ง๐ญ๐๐ซ๐ฉ๐ซ๐ข๐ฌ๐๐ฌ ๐๐๐ฒ, ๐๐ฎ๐ง๐ 27.ย #WorldMSMEsDay This post has been co-created byย Maximilian Bauerย andย Shashi Matta In our current research, and industry collaborations, we work with dozens of MSMEs. As we celebrate the World MSMEs Day on June 27, let's shine a spotlight on the backbone of our global economy. Underappreciated, yet unparalleled โ these are the enterprises that fuel our world. ๐ย ๐๐ก๐ ๐๐ฅ๐จ๐๐๐ฅ ๐๐๐จ๐ง๐จ๐ฆ๐ข๐ ๐๐๐ฆ๐-๐๐ก๐๐ง๐ ๐๐ซ๐ฌ.ย Worldwide,ย MSMEs account for 90% ofย all #companies,ย 65%ย ofย the #work #force,ย and 50% ofย #GDP. As theย economicย backbone ofย the #world, they sustainย livelihoodsย ofย a large percentage ofย womenย andย youth.ย Despite their economic power, MSMEs are vulnerable to global crises which have driven inflation and caused supply chain disruptions. Most affected are women- and youth-owned enterprises that face limited access to affordable finance, partnership networks, and global markets. Learn more on the United Nations page:ย https://rb.gy/lt0lv ๐คย ๐๐๐๐๐ฌ ๐ญ๐ก๐๐ญ ๐ข๐ง๐ฌ๐ฉ๐ข๐ซ๐๐ ๐ฎ๐ฌ.ย We worked with and learned from MSMEs, many of whom are #industry #champions and #best #practice examples. Through research projects, executive workshops, fireside chats, keynote speeches, company visits, and interviews, we had the opportunity to engage with remarkable organizations in the German Mittelstand such as LucaNet, BestSecret Group, Regnology, CARIAD, Bain & Company, wattx, Maschinenraum, Wild Beauty GmbH, John Paul Mitchell Systems, Stuttgart Financial, Engel & Vรถlkers Digital Invest, BRAINEFFECT, Landbรคckerei Ihle GmbH & Co. KG,ย Plug and Play Munich, digital workbench gmbh,ย #mitdenkt,ย GREENFORCE,ย REIMANN INVESTORS,ย nurINpur UG, rezemo, thireks GmbH,ย Initiative Regionalmanagement Region Ingolstadt (IRMA) e.V.,ย transform.10, and many more. We gainedย valuable insights intoย how they innovate. ๐กย ๐๐ง๐ง๐จ๐ฏ๐๐ญ๐ข๐จ๐ง ๐๐ก๐๐ฅ๐ฅ๐๐ง๐ ๐๐ฌ ๐ข๐ง ๐๐๐๐๐ฌ.ย Our research finds that MSMEs that strategically incorporate #innovation #processes into their business model have the power to #revolutionize entire #industries. #Open #Innovation is one such strategic action that can help MSMEs gain #competitiveadvantage and make them more #resilient. A substantial number of MSMEs tend to be under-digitalized and unable to exploit the advantages and opportunities of #digitalization. Strategic partnerships and access to networks can help supercharge #digital and #sustainable innovations in these MSMEs. If you liked this post, you may also like: 1๏ธโฃย FUTURE WORK SKILLS -ย https://lnkd.in/eWBUP-dz 2๏ธโฃย IHLE -ย https://rb.gy/9p0uv 3๏ธโฃย SME & Start-up Panel -ย https://rb.gy/z9cmh 4๏ธโฃย WORLD IP DAY -ย https://rb.gy/lnq28 Share your thoughts onย the power of MSMEs,ย inย the Comments! ๐๐ก๐๐ฉ๐ ๐ฒ๐จ๐ฎ๐ซ ๐ ๐ฎ๐ญ๐ฎ๐ซ๐, ๐๐ ๐๐๐๐๐๐๐๐๐๐ ๐๐๐๐๐.
It's inspiring to see the impact MSMEs have on employment and GDP worldwide. We must prioritize providing them with better access to finance, networks, and markets to ensure their continued success.
From the beginning of time MSME's remained the backbone of global economy and they will be till the end of time. Now they are more relevant for the global economy because of globalization. Maximilian Bauer & Shashi Matta .
Daniel Speiss
10mo
Due to Covid and the war we all realized the issue of resilient supply chains. I bet these hits smaller companies even more. Tough times, but thank you for highlighting this.
Jared Jones
10mo
Digital and sustainable innovations are the key for future success. Otherwise, we wonโt be able to reach our Sustainable Development Goals by 2030.
Andrew Marsham
10mo
I did not know that a World Micro-, Small, and Medium-sized Enterprises Day exists, but I am very glad that this economic engine gets a special day!
Thanks Maximilian Bauer for having us on location speaking about what drives us. Inspiration is fundamental for long lasting motivation and therefore the base of good products.
Catherine Canales
10mo
I really like your list of Future Work Skills. Thanks for sharing them!
Business Aquisitions
10moI did not know that MSMEs account for over 90% of all the companies worldwide. ๐ณ That is massive and definitely worth exploring in more detail. Thank you for sharing these interesting facts.