Digital transformation and small and medium-sized enterprise (SME) performance: a multi-technology model of value creation and entrepreneurial orientation
摘要
Digital transformation has become a business imperative for organizations looking to optimize operations and improve core competencies. Integrating digital solutions can not only help organizations combat the challenges of external shocks but also transform their operating models by facilitating more resilient and agile business models. The Digital Service approach allows for the infusion of digital technologies and innovations into the economy, resulting in increased economic resilience and social impact, while also reinforcing the regional economic ecosystem. There is limited research on the roles of digital solutions in facilitating enterprises during different life stages and sustainability, even though interest is growing. Moreover, there are even fewer studies related to how individual digital innovations can create value in quantifiable terms for small and medium-sized enterprises (SMEs). The aim of this study is to address this gap by evaluating the impact of entrepreneurial orientation on these relationships. The study develops a theoretical model grounded in and empirically tests it through the resource-based view (RBV) and dynamic capabilities framework by dynamic capability view (DCV). For this, the study utilizes partial least squares structural equation modeling (PLS-SEM) based on the responses of 309 SME employees in India and finds that digital technology adoption heralds economic and social value creation. It also shows that the structural model explained 35% of the variance in economic value (R2 = 0.35), 38% in social value (R2 = 0.38), and 68% in SME performance (R2 = 0.68), indicating strong explanatory power. The use of big data analytics (β = 0.29), artificial intelligence (β = 0.19), and IoT (β = 0.30) demonstrated strong positive impacts on economic value. Entrepreneurial orientation significantly moderated the value–performance relationship, further enhancing SME outcomes. Entrepreneurial orientation moderated the relationship between value creation and organizational performance significantly.