Crucial Factors Influencing the Success of SMEs in the Digital Transformation Era
Keywords:
SMEs, Digital Technology, Transformation Era, Crucial Factors, Content Analysis
Abstract
Small and medium enterprises (SMEs) have an important role as the backbone of a country's economy. However, in the current digital era, there are many challenges faced by SMEs in adopting digital transformation. Assumed limited literature that discusses the success factors of digital transformation in SMEs. Therefore, this research aims to explore the important factors for the success of digital transformation in today's SMEs. The method used in this research is to search for articles relevant to the research topic using the Google Scholar database. The research results show that digital strategic planning, digital maturity, relationship capital, and collaborating with external digital innovation units are the keys to successful digital transformation in MSEs today. The results of this research will provide input to SMEs and the government in making decisions to achieve the success and sustainability of SMEs, as well as enrich the literature that examines digital transformation in SMEs.
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References
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Bedell-Pearce, J. (2018). Safe digital transformation for SMEs. Network Security, 2018(11), 6–7.
Bouwman, H., Nikou, S., & de Reuver, M. (2019). Digitalization, business models, and SMEs: How do business model innovation practices improve the performance of digitalizing SMEs? Telecommunications Policy, 43(9), 101828.
?ervinka, T. (2023). Digital transformation of strategic management of SMEs in the Czech Republic. Journal of Information and Organizational Sciences, 47(2), 387–400.
Chakma, R., & Dhir, S. (2023). Exploring the determinants of ambidexterity in the context of Small and Medium Enterprises (SMEs): A meta-analytical review. Journal of Management & Organization, 1–29.
Chatterjee, S., Chaudhuri, R., Vrontis, D., & Thrassou, A. (2022). SME entrepreneurship and digitalization–the potentialities and moderating role of demographic factors. Technological Forecasting and Social Change, 179, 121648.
Clemente-Almendros, J. A., Nicoara-Popescu, D., & Pastor-Sanz, I. (2024). Digital transformation in SMEs: Understanding its determinants and size heterogeneity. Technology in Society, 77, 102483.
De Matteis, J., Elia, G., & Del Vecchio, P. (2023). Business continuity management and organizational resilience: A small and medium enterprises (SMEs) perspective. Journal of Contingencies and Crisis Management, 31(4), 670–682.
Dörr, L., Fliege, K., Lehmann, C., Kanbach, D. K., & Kraus, S. (2023). A taxonomy on influencing factors towards digital transformation in SMEs. Journal of Small Business Strategy, 33(1), 53–69.
Dutta, G., Kumar, R., Sindhwani, R., & Singh, R. K. (2020). Digital transformation priorities of India’s discrete manufacturing SMEs–a conceptual study in perspective of Industry 4.0. Competitiveness Review: An International Business Journal, 30(3), 289–314.
Fiseha, G. G., & Oyelana, A. A. (2015). An assessment of the roles of small and medium enterprises (SMEs) in the local economic development (LED) in South Africa. Journal of Economics, 6(3), 280–290.
Fonseca, L., & Carvalho, F. (2019). The reporting of SDGs by quality, environmental, and occupational health and safety-certified organizations. Sustainability, 11(20), 5797.
Gentile-Lüdecke, S., Torres de Oliveira, R., & Paul, J. (2020). Does organizational structure facilitate inbound and outbound open innovation in SMEs? Small Business Economics, 55(4), 1091–1112.
González-Varona, J. M., López-Paredes, A., Poza, D., & Acebes, F. (2021). Building and development of an organizational competence for digital transformation in SMEs. Journal of Industrial Engineering and Management (JIEM), 14(1), 15–24.
Hadjielias, E., Christofi, M., Christou, P., & Drotarova, M. H. (2022). Digitalization, agility, and customer value in tourism. Technological Forecasting and Social Change, 175, 121334.
Hermann, A., Gollhardt, T., Cordes, A.-K., von Lojewski, L., Hartmann, M. P., & Becker, J. (2024). Digital transformation in SMEs: A taxonomy of externally supported digital innovation projects. International Journal of Information Management, 74, 102713.
Hill, J., Nancarrow, C., & Tiu Wright, L. (2002). Lifecycles and crisis points in SMEs: a case approach. Marketing Intelligence & Planning, 20(6), 361–369.
Hossain, M. R., Akhter, F., & Sultana, M. M. (2022). SMEs in COVID-19 crisis and combating strategies: a systematic literature review (SLR) and A case from an emerging economy. Operations Research Perspectives, 9, 100222.
Huang, W., Chau, K. Y., Kit, I. Y., Nureen, N., Irfan, M., & Dilanchiev, A. (2022). Relating sustainable business development practices and information management in promoting digital green innovation: evidence from China. Frontiers in Psychology, 13, 930138.
Hulla, M., Herstätter, P., Wolf, M., & Ramsauer, C. (2021). Towards digitalization in production in SMEs–A qualitative study of challenges, competencies and requirements for training. Procedia CIRP, 104, 887–892.
Kergroach, S. (2020). Giving momentum to SME digitalization. Journal of the International Council for Small Business, 1(1), 28–31.
Krempl, S., & Pace, R. W. (2001). Training across multiple locations: Developing a system that works (First Edit). San Francisco: Berrett-Koehler Publishers.
Li, W., Liu, K., Belitski, M., Ghobadian, A., & O’Regan, N. (2016). e-Leadership through strategic alignment: An empirical study of small and medium-sized enterprises in the digital age. Journal of Information Technology, 31, 185–206.
London, K. (2010). Multi-market industrial organizational economic models for the internationalization process by small and medium enterprise construction design service firms. Architectural Engineering and Design Management, 6(2), 132–152.
Malesios, C., De, D., Moursellas, A., Dey, P. K., & Evangelinos, K. (2021). Sustainability performance analysis of small and medium-sized enterprises: Criteria, methods, and framework. Socio-Economic Planning Sciences, 75, 100993.
Manafe, M. W. N. (2024). Dynamic Success Dynamics of SMEs in Digital Transformation: Analysis of Social and Psychological Factors. Journal of Contemporary Administration and Management (ADMAN), 2(1), 325–330.
Marino-Romero, J. A., Palos-Sánchez, P. R., & Velicia-Martín, F. (2024). Evolution of digital transformation in SME management through a bibliometric analysis. Technological Forecasting and Social Change, 199, 123014.
Matarazzo, M., Penco, L., Profumo, G., & Quaglia, R. (2021). Digital transformation and customer value creation in Made in Italy SMEs: A dynamic capabilities perspective. Journal of Business Research, 123, 642–656.
Melo, I. C., Queiroz, G. A., Junior, P. N. A., de Sousa, T. B., Yushimito, W. F., & Pereira, J. (2023). Sustainable digital transformation in small and medium enterprises (SMEs): A review on performance. Heliyon, 9(3).
Mittal, V., & Raman, T. V. (2021). Examining the determinants and consequences of financial constraints faced by Micro, Small, and Medium Enterprises’ owners. World Journal of Entrepreneurship, Management and Sustainable Development, 17(3), 560–581.
Moeuf, A., Pellerin, R., Lamouri, S., Tamayo-Giraldo, S., & Barbaray, R. (2018). The industrial management of SMEs in the era of Industry 4.0. International Journal of Production Research, 56(3), 1118–1136.
Munro, D. (2013). A guide to SME financing. Springer.
Naradda Gamage, S. K., Ekanayake, E. M. S., Abeyrathne, G., Prasanna, R., Jayasundara, J., & Rajapakshe, P. S. K. (2020). A review of global challenges and survival strategies of small and medium enterprises (SMEs). Economies, 8(4), 79.
Ng, H. S., & Kee, D. M. H. (2017). Entrepreneurial SMEs surviving in the era of globalization: Critical success factors. In Global opportunities for entrepreneurial growth: Coopetition and knowledge dynamics within and across firms (pp. 75–90). Emerald Publishing Limited.
Olazo, D. B. (2023). Marketing competency, marketing innovation and sustainable competitive advantage of small and medium enterprises (SMEs): a mixed-method analysis. Asia Pacific Journal of Marketing and Logistics, 35(4), 890–907.
Omrani, N., Rejeb, N., Maalaoui, A., Dabi?, M., & Kraus, S. (2022). Drivers of digital transformation in SMEs. IEEE Transactions on Engineering Management.
Palade, D., & Møller, C. (2023). Guiding Digital Transformation in SMEs. Management and Production Engineering Review, 14(1).
Pelletier, C., & Cloutier, L. M. (2019). Conceptualizing digital transformation in SMEs: an ecosystemic perspective. Journal of Small Business and Enterprise Development, 26(6/7), 855–876.
Priyono, A., Moin, A., & Putri, V. N. A. O. (2020). Identifying digital transformation paths in the business model of SMEs during the COVID-19 pandemic. Journal of Open Innovation: Technology, Market, and Complexity, 6(4), 104.
Ragazou, K., Passas, I., & Sklavos, G. (2022). Investigating the strategic role of digital transformation path of SMEs in the era of COVID-19: a bibliometric analysis using R. Sustainability, 14(18), 11295.
Reis, J., Amorim, M., Melão, N., & Matos, P. (2018). Digital transformation: a literature review and guidelines for future research. Trends and Advances in Information Systems and Technologies: Volume 1 6, 411–421.
Restrepo-Morales, J. A., Loaiza, O. L., & Vanegas, J. G. (2019). Determinants of innovation: A multivariate analysis in Colombian micro, small and medium-sized enterprises. Journal of Economics, Finance and Administrative Science, 24(47), 97–112.
Sarwoko, E., & Frisdiantara, C. (2016). Growth determinants of small medium enterprises (SMEs). Universal Journal of Management, 4(1), 36–41.
Scuotto, V., Nicotra, M., Del Giudice, M., Krueger, N., & Gregori, G. L. (2021). A micro foundational perspective on SMEs’ growth in the digital transformation era. Journal of Business Research, 129, 382–392.
Šimberová, I., Korauš, A., Schüller, D., Širá?ová, L., Straková, J., & Váchal, J. (2022). Threats and opportunities in digital transformation in SMEs from the perspective of sustainability: A case study in the Czech Republic. Sustainability, 14(6), 3628.
Srimulyani, V. A., Hermanto, Y. B., Rustiyaningsih, S., & Waloyo, L. A. S. (2023). Internal factors of entrepreneurial and business performance of small and medium enterprises (SMEs) in East Java, Indonesia. Heliyon, 9(11), 1–18.
St-Pierre, J., Foleu, L., Abdulnour, G., Nomo, S., & Fouda, M. (2015). SME development challenges in Cameroon: An entrepreneurial ecosystem perspective. Transnational Corporations Review, 7(4), 441–462.
Stich, V., Zeller, V., Hicking, J., & Kraut, A. (2020). Measures for a successful digital transformation of SMEs. Procedia Cirp, 93, 286–291.
Stuart, E. (2011). Making Growth Inclusive: Some lessons from countries and the literature. Oxfam.
Suzic, N., & Forza, C. (2023). Development of mass customization implementation guidelines for small and medium enterprises (SMEs). Production Planning & Control, 34(6), 543–571.
Ta, V. A., & Lin, C.-Y. (2023). Exploring the Determinants of digital transformation adoption for SMEs in an emerging economy. Sustainability, 15(9), 7093.
Teoh, M. F., Ahmad, N. H., Abdul-Halim, H., & Ramayah, T. (2022). Is digital business model innovation the silver bullet for SMEs' competitiveness in the digital era? Evidence from a developing nation. Vision, 09722629221074771.
Troise, C., Corvello, V., Ghobadian, A., & O’Regan, N. (2022). How can SMEs successfully navigate VUCA environment: The role of agility in the digital transformation era. Technological Forecasting and Social Change, 174, 121227.
U.S.Small. (2018). Business Administration (SBA), SBA Table of Size Standards.
Verhoef, P. C., Broekhuizen, T., Bart, Y., Bhattacharya, A., Dong, J. Q., Fabian, N., & Haenlein, M. (2021). Digital transformation: A multidisciplinary reflection and research agenda. Journal of Business Research, 122, 889–901.
Verma, S., Shome, S., & Hassan, M. K. (2023). FinTech in small and medium enterprises (SMEs): A review and future research agenda. European Management Journal, 41(6), 950–971.
Wattanakomol, S., & Silpcharu, T. (2023). Characteristics of entrepreneurs in sustainably successful micro, small, and medium enterprises. Uncertain Supply Chain Management, 11(3), 1359–1368.
Yang, Z., Chang, J., Huang, L., & Mardani, A. (2023). Digital transformation solutions of entrepreneurial SMEs based on an information error-driven T-spherical fuzzy cloud algorithm. International Journal of Information Management, 69, 102384.
Zahoor, N., Khan, H., Donbesuur, F., Khan, Z., & Rajwani, T. (2024). Grand challenges and emerging market small and medium enterprises: The role of strategic agility and gender diversity. Journal of Product Innovation Management, 41(2), 473–500.
Zeng, S. X., Xie, X. M., & Tam, C. M. (2010). Relationship between cooperation networks and innovation performance of SMEs. Technovation, 30(3), 181–194.
Zhang, X., Xu, Y., & Ma, L. (2022). Research on successful factors and influencing mechanisms of the digital transformation in SMEs. Sustainability, 14(5), 2549.
Ahmad, B., Liu, D., Irfan, M., & Álvarez-García, J. (2022). Unleashing the mechanism among salesforce control system, salesforce ambidexterity, and emotional exhaustion to enhance the competitive advantage of organizations. Frontiers in Psychology, 13, 909656.
Asare, R., Akuffobe, M., Quaye, W., & Atta-Antwi, K. (2015). Characteristics of micro, small and medium enterprises in Ghana: Gender and implications for economic growth. African Journal of Science, Technology, Innovation and Development, 7(1), 26–35.
Ayyagari, M., Beck, T., & Demirguc-Kunt, A. (2007). Small and medium enterprises across the globe. Small Business Economics, 29, 415–434.
Bedell-Pearce, J. (2018). Safe digital transformation for SMEs. Network Security, 2018(11), 6–7.
Bouwman, H., Nikou, S., & de Reuver, M. (2019). Digitalization, business models, and SMEs: How do business model innovation practices improve the performance of digitalizing SMEs? Telecommunications Policy, 43(9), 101828.
?ervinka, T. (2023). Digital transformation of strategic management of SMEs in the Czech Republic. Journal of Information and Organizational Sciences, 47(2), 387–400.
Chakma, R., & Dhir, S. (2023). Exploring the determinants of ambidexterity in the context of Small and Medium Enterprises (SMEs): A meta-analytical review. Journal of Management & Organization, 1–29.
Chatterjee, S., Chaudhuri, R., Vrontis, D., & Thrassou, A. (2022). SME entrepreneurship and digitalization–the potentialities and moderating role of demographic factors. Technological Forecasting and Social Change, 179, 121648.
Clemente-Almendros, J. A., Nicoara-Popescu, D., & Pastor-Sanz, I. (2024). Digital transformation in SMEs: Understanding its determinants and size heterogeneity. Technology in Society, 77, 102483.
De Matteis, J., Elia, G., & Del Vecchio, P. (2023). Business continuity management and organizational resilience: A small and medium enterprises (SMEs) perspective. Journal of Contingencies and Crisis Management, 31(4), 670–682.
Dörr, L., Fliege, K., Lehmann, C., Kanbach, D. K., & Kraus, S. (2023). A taxonomy on influencing factors towards digital transformation in SMEs. Journal of Small Business Strategy, 33(1), 53–69.
Dutta, G., Kumar, R., Sindhwani, R., & Singh, R. K. (2020). Digital transformation priorities of India’s discrete manufacturing SMEs–a conceptual study in perspective of Industry 4.0. Competitiveness Review: An International Business Journal, 30(3), 289–314.
Fiseha, G. G., & Oyelana, A. A. (2015). An assessment of the roles of small and medium enterprises (SMEs) in the local economic development (LED) in South Africa. Journal of Economics, 6(3), 280–290.
Fonseca, L., & Carvalho, F. (2019). The reporting of SDGs by quality, environmental, and occupational health and safety-certified organizations. Sustainability, 11(20), 5797.
Gentile-Lüdecke, S., Torres de Oliveira, R., & Paul, J. (2020). Does organizational structure facilitate inbound and outbound open innovation in SMEs? Small Business Economics, 55(4), 1091–1112.
González-Varona, J. M., López-Paredes, A., Poza, D., & Acebes, F. (2021). Building and development of an organizational competence for digital transformation in SMEs. Journal of Industrial Engineering and Management (JIEM), 14(1), 15–24.
Hadjielias, E., Christofi, M., Christou, P., & Drotarova, M. H. (2022). Digitalization, agility, and customer value in tourism. Technological Forecasting and Social Change, 175, 121334.
Hermann, A., Gollhardt, T., Cordes, A.-K., von Lojewski, L., Hartmann, M. P., & Becker, J. (2024). Digital transformation in SMEs: A taxonomy of externally supported digital innovation projects. International Journal of Information Management, 74, 102713.
Hill, J., Nancarrow, C., & Tiu Wright, L. (2002). Lifecycles and crisis points in SMEs: a case approach. Marketing Intelligence & Planning, 20(6), 361–369.
Hossain, M. R., Akhter, F., & Sultana, M. M. (2022). SMEs in COVID-19 crisis and combating strategies: a systematic literature review (SLR) and A case from an emerging economy. Operations Research Perspectives, 9, 100222.
Huang, W., Chau, K. Y., Kit, I. Y., Nureen, N., Irfan, M., & Dilanchiev, A. (2022). Relating sustainable business development practices and information management in promoting digital green innovation: evidence from China. Frontiers in Psychology, 13, 930138.
Hulla, M., Herstätter, P., Wolf, M., & Ramsauer, C. (2021). Towards digitalization in production in SMEs–A qualitative study of challenges, competencies and requirements for training. Procedia CIRP, 104, 887–892.
Kergroach, S. (2020). Giving momentum to SME digitalization. Journal of the International Council for Small Business, 1(1), 28–31.
Krempl, S., & Pace, R. W. (2001). Training across multiple locations: Developing a system that works (First Edit). San Francisco: Berrett-Koehler Publishers.
Li, W., Liu, K., Belitski, M., Ghobadian, A., & O’Regan, N. (2016). e-Leadership through strategic alignment: An empirical study of small and medium-sized enterprises in the digital age. Journal of Information Technology, 31, 185–206.
London, K. (2010). Multi-market industrial organizational economic models for the internationalization process by small and medium enterprise construction design service firms. Architectural Engineering and Design Management, 6(2), 132–152.
Malesios, C., De, D., Moursellas, A., Dey, P. K., & Evangelinos, K. (2021). Sustainability performance analysis of small and medium-sized enterprises: Criteria, methods, and framework. Socio-Economic Planning Sciences, 75, 100993.
Manafe, M. W. N. (2024). Dynamic Success Dynamics of SMEs in Digital Transformation: Analysis of Social and Psychological Factors. Journal of Contemporary Administration and Management (ADMAN), 2(1), 325–330.
Marino-Romero, J. A., Palos-Sánchez, P. R., & Velicia-Martín, F. (2024). Evolution of digital transformation in SME management through a bibliometric analysis. Technological Forecasting and Social Change, 199, 123014.
Matarazzo, M., Penco, L., Profumo, G., & Quaglia, R. (2021). Digital transformation and customer value creation in Made in Italy SMEs: A dynamic capabilities perspective. Journal of Business Research, 123, 642–656.
Melo, I. C., Queiroz, G. A., Junior, P. N. A., de Sousa, T. B., Yushimito, W. F., & Pereira, J. (2023). Sustainable digital transformation in small and medium enterprises (SMEs): A review on performance. Heliyon, 9(3).
Mittal, V., & Raman, T. V. (2021). Examining the determinants and consequences of financial constraints faced by Micro, Small, and Medium Enterprises’ owners. World Journal of Entrepreneurship, Management and Sustainable Development, 17(3), 560–581.
Moeuf, A., Pellerin, R., Lamouri, S., Tamayo-Giraldo, S., & Barbaray, R. (2018). The industrial management of SMEs in the era of Industry 4.0. International Journal of Production Research, 56(3), 1118–1136.
Munro, D. (2013). A guide to SME financing. Springer.
Naradda Gamage, S. K., Ekanayake, E. M. S., Abeyrathne, G., Prasanna, R., Jayasundara, J., & Rajapakshe, P. S. K. (2020). A review of global challenges and survival strategies of small and medium enterprises (SMEs). Economies, 8(4), 79.
Ng, H. S., & Kee, D. M. H. (2017). Entrepreneurial SMEs surviving in the era of globalization: Critical success factors. In Global opportunities for entrepreneurial growth: Coopetition and knowledge dynamics within and across firms (pp. 75–90). Emerald Publishing Limited.
Olazo, D. B. (2023). Marketing competency, marketing innovation and sustainable competitive advantage of small and medium enterprises (SMEs): a mixed-method analysis. Asia Pacific Journal of Marketing and Logistics, 35(4), 890–907.
Omrani, N., Rejeb, N., Maalaoui, A., Dabi?, M., & Kraus, S. (2022). Drivers of digital transformation in SMEs. IEEE Transactions on Engineering Management.
Palade, D., & Møller, C. (2023). Guiding Digital Transformation in SMEs. Management and Production Engineering Review, 14(1).
Pelletier, C., & Cloutier, L. M. (2019). Conceptualizing digital transformation in SMEs: an ecosystemic perspective. Journal of Small Business and Enterprise Development, 26(6/7), 855–876.
Priyono, A., Moin, A., & Putri, V. N. A. O. (2020). Identifying digital transformation paths in the business model of SMEs during the COVID-19 pandemic. Journal of Open Innovation: Technology, Market, and Complexity, 6(4), 104.
Ragazou, K., Passas, I., & Sklavos, G. (2022). Investigating the strategic role of digital transformation path of SMEs in the era of COVID-19: a bibliometric analysis using R. Sustainability, 14(18), 11295.
Reis, J., Amorim, M., Melão, N., & Matos, P. (2018). Digital transformation: a literature review and guidelines for future research. Trends and Advances in Information Systems and Technologies: Volume 1 6, 411–421.
Restrepo-Morales, J. A., Loaiza, O. L., & Vanegas, J. G. (2019). Determinants of innovation: A multivariate analysis in Colombian micro, small and medium-sized enterprises. Journal of Economics, Finance and Administrative Science, 24(47), 97–112.
Sarwoko, E., & Frisdiantara, C. (2016). Growth determinants of small medium enterprises (SMEs). Universal Journal of Management, 4(1), 36–41.
Scuotto, V., Nicotra, M., Del Giudice, M., Krueger, N., & Gregori, G. L. (2021). A micro foundational perspective on SMEs’ growth in the digital transformation era. Journal of Business Research, 129, 382–392.
Šimberová, I., Korauš, A., Schüller, D., Širá?ová, L., Straková, J., & Váchal, J. (2022). Threats and opportunities in digital transformation in SMEs from the perspective of sustainability: A case study in the Czech Republic. Sustainability, 14(6), 3628.
Srimulyani, V. A., Hermanto, Y. B., Rustiyaningsih, S., & Waloyo, L. A. S. (2023). Internal factors of entrepreneurial and business performance of small and medium enterprises (SMEs) in East Java, Indonesia. Heliyon, 9(11), 1–18.
St-Pierre, J., Foleu, L., Abdulnour, G., Nomo, S., & Fouda, M. (2015). SME development challenges in Cameroon: An entrepreneurial ecosystem perspective. Transnational Corporations Review, 7(4), 441–462.
Stich, V., Zeller, V., Hicking, J., & Kraut, A. (2020). Measures for a successful digital transformation of SMEs. Procedia Cirp, 93, 286–291.
Stuart, E. (2011). Making Growth Inclusive: Some lessons from countries and the literature. Oxfam.
Suzic, N., & Forza, C. (2023). Development of mass customization implementation guidelines for small and medium enterprises (SMEs). Production Planning & Control, 34(6), 543–571.
Ta, V. A., & Lin, C.-Y. (2023). Exploring the Determinants of digital transformation adoption for SMEs in an emerging economy. Sustainability, 15(9), 7093.
Teoh, M. F., Ahmad, N. H., Abdul-Halim, H., & Ramayah, T. (2022). Is digital business model innovation the silver bullet for SMEs' competitiveness in the digital era? Evidence from a developing nation. Vision, 09722629221074771.
Troise, C., Corvello, V., Ghobadian, A., & O’Regan, N. (2022). How can SMEs successfully navigate VUCA environment: The role of agility in the digital transformation era. Technological Forecasting and Social Change, 174, 121227.
U.S.Small. (2018). Business Administration (SBA), SBA Table of Size Standards.
Verhoef, P. C., Broekhuizen, T., Bart, Y., Bhattacharya, A., Dong, J. Q., Fabian, N., & Haenlein, M. (2021). Digital transformation: A multidisciplinary reflection and research agenda. Journal of Business Research, 122, 889–901.
Verma, S., Shome, S., & Hassan, M. K. (2023). FinTech in small and medium enterprises (SMEs): A review and future research agenda. European Management Journal, 41(6), 950–971.
Wattanakomol, S., & Silpcharu, T. (2023). Characteristics of entrepreneurs in sustainably successful micro, small, and medium enterprises. Uncertain Supply Chain Management, 11(3), 1359–1368.
Yang, Z., Chang, J., Huang, L., & Mardani, A. (2023). Digital transformation solutions of entrepreneurial SMEs based on an information error-driven T-spherical fuzzy cloud algorithm. International Journal of Information Management, 69, 102384.
Zahoor, N., Khan, H., Donbesuur, F., Khan, Z., & Rajwani, T. (2024). Grand challenges and emerging market small and medium enterprises: The role of strategic agility and gender diversity. Journal of Product Innovation Management, 41(2), 473–500.
Zeng, S. X., Xie, X. M., & Tam, C. M. (2010). Relationship between cooperation networks and innovation performance of SMEs. Technovation, 30(3), 181–194.
Zhang, X., Xu, Y., & Ma, L. (2022). Research on successful factors and influencing mechanisms of the digital transformation in SMEs. Sustainability, 14(5), 2549.
Published
2024-09-29
How to Cite
Syahrial, H., Lores, L., Siregar, D., & Nazwa, S. (2024). Crucial Factors Influencing the Success of SMEs in the Digital Transformation Era. Information Management and Business Review, 16(3(I)S), 181-187. https://doi.org/10.22610/imbr.v16i3(I)S.4053
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Research Paper
Copyright (c) 2024 Hery Syahrial, Linda Lores, Dahrul Siregar, Salma Nazwa
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