Sridhar Narayanan, a professor of marketing at Stanford Graduate School of Business, studies how small businesses operate and why they’re so important, especially in the developing world.  “Modernizing small businesses will have a profound impact on economies worldwide in many ways,” he says.  In this episode of If/Then, Narayanan explains why so many retailers still rely on cash, how modernization can boost revenue, and what these patterns reveal about credit access, trust in institutions, and global economic development. Have you modernized a small business or did you choose to stick with what was already working? Tell us your story at ifthenpod@stanford.edu. This episode was recorded on November 5, 2024. Related Content:Sridhar Narayanan faculty profileUpgrades Can Help Mom-and-Pop Stores Compete with Big RetailFrom Instinct to Insight: Crafting an Intentional Sales StrategyWith “Retargeted” Advertising, Sooner Is Better Than Later See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.