Unlocking the Role of Digital Capabilities in the Resilience of Malaysian Small and Medium Practices (SMPs)
Keywords:
Digital capabilities; Digitalization; Small and Medium Practices (SMPs); Small and Medium Enterprises (SMEs); Resilience
Abstract
The current business environment is characterized by significant volatility and unpredictability due to technological breakthroughs, political dynamics and societal changes. These dynamics significantly affect both large corporations and small and medium enterprises (SMEs). In the current dynamic business environment, SMEs face numerous issues requiring resilience for survival and success. Key challenges SMEs face include insufficient financial resources, lack of skilled personnel and inadequate technological infrastructure. For SMEs to remain resilient, employers and employees must reach a certain technological competence and expertise. Therefore, this study aims to explore the relationship between digital capabilities and resilience of Malaysian small and medium practices (SMPs) as the impact of digital skills on the survival of the accounting sector is rarely studied. A total of 255 owners and managers of accounting firms registered in the Malaysian Institute of Accountants (MIA) database participated in the online survey. The results show a positive and moderate correlation between small accounting firms' resilience and digital capabilities' characteristics (human, collaborative, innovative and technological skills). The existence of small accounting firms in Malaysia depends primarily on their innovation capabilities. The findings suggest that digital capabilities are essential for the resilience of small accounting firms as they not only facilitate survival but also encourage development and innovation in times of crisis. It also transforms accountants' workflows and improves their efficiency, cost-effectiveness, accuracy and competitiveness. This finding implies that it is crucial for SMEs, to invest in digital capabilities to survive but also to remain competitive and growth potential during periods of disruption.
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References
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Aziz, K., Hasnain, S. S. U., Awais, M., Shahzadi, I., & Afzal, M. M. (2017). The Impact of Entrepreneurial Orientation on SME Performance in Pakistan: A Qualitative Analysis. International Journal of Engineering and Information Systems (IJEAIS), 1(8), 107–112.
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Hasnah Haron, Ishak Ismail, Sofri Yahya, Siti Nabiha Abdul Khalid, & Ganesan, Y. (2010). Cases of Successful Malaysian Small and Medium Enterprises (SMEs): Does Business Advisory Services Help? Malaysian Accountancy Research and Education Foundation (MAREF). https://doi.org/ISBN 978-983-9044-67-6
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Ismail, A., Economics, F., Sains, U., Nilai, B. B., & Management, F. (2022). THE 10th ISLAMIC BANKING, ACCOUNTING AND FINANCE INTERNATIONAL CONFERENCE 2022 ( i BAF 2022 ) Conceptualization of SMEs ’ Business Resilience?: A Systematic Review Farah Laili Muda @ Ismail Umi Hamidaton Mohd Suffian Lee. 2022, 149–155.
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Krejcie, R. V, & Morgan, D. W. (1970). Determining sample size for research activities. Educational and Psychological Measurement, 30(3), 607–610.
Kurniawan, R., Budiastuti, D., Hamsal, M., & Kosasih, W. (2021). Networking capability and firm performance: the mediating role of market orientation and business process agility. Journal of Business and Industrial Marketing, 36(9), 1646–1664. https://doi.org/10.1108/JBIM-01-2020-0023
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Malo, A., Fortin, A., & Héroux, S. (2024). Small and medium-sized accounting firms’ learning processes regarding standards updates. Journal of Small Business & Entrepreneurship, 36(5), 705–728.
Mittelstaedt, J. D., Harben, G. N., & Ward, W. A. (2003). How small is too small? Firm size is a barrier to exporting from the United States. Journal of Small Business Management, 41(1), 68–84.
Napisah, L. S., Taufikurochman, C., & Harto, B. (2024). The Effect of Digitalization on the Sustainability of Accounting Practices in the Financial Industry. Journal of Social Science and Business Studies, 2(4), 268–276.
Nasiri, M., Saunila, M., Ukko, J., Rantala, T., & Rantanen, H. (2023). Shaping digital innovation via digital-related capabilities. Information Systems Frontiers, 25(3), 1063–1080.
Noor, N. A. M., Muhammad, A., Kassim, A., Jamil, C. Z. M., Mat, N., Mat, N., & Salleh, H. S. (2012). Creating green consumers: how environmental knowledge and environmental attitude lead to green purchase behavior? International Journal of Arts & Sciences, 5(1), 55.
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Olaleye, B. R., Lekunze, J. N., Sekhampu, T. J., Khumalo, N., & Ayeni, A. A. W. (2024). Leveraging innovation capability and organizational resilience for business sustainability among small and medium enterprises: A PLS-SEM approach. Sustainability, 16(21), 9201.
Ortiz, E., Marín, S., & Thompson, P. (2024). The role of small and medium-sized practices in the sustainable transition of SMEs: Sustainable Transition and Professionals. Environment, Development and Sustainability, 26(8), 19299–19323.
Parker, H., & Ameen, K. (2018). The role of resilience capabilities in shaping how firms respond to disruptions. Journal of Business Research, 88, 535–541.
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Pimentel, J. L., & Pimentel, J. L. (2019). Some biases in Likert scaling usage and its correction. International Journal of Science: Basic and Applied Research (IJSBAR), 45(1), 183–191.
Prastian, G. A., Setiawan, A., & Bachtiar, N. K. (2022). SMEs’ Sustainability: Between Business Resilience and Business Growth, Which One is More Significant in the Time of Crisis? Jurnal Manajemen Bisnis, 9(1), 94–105. https://doi.org/10.33096/jmb.v9i1.1086
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Published
2025-02-18
How to Cite
Taib, A., Awang, Y., Said, J., & Mohd Akhir, N. E. F. (2025). Unlocking the Role of Digital Capabilities in the Resilience of Malaysian Small and Medium Practices (SMPs). Information Management and Business Review, 17(1(I), 171-183. https://doi.org/10.22610/imbr.v17i1(I).4385
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Copyright (c) 2025 Azuraidah Taib, Yunita Awang, Jamaliah Said, Noor Erni Fazlina Mohd Akhir
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