SMEs in a digital era: The role of management

Mladeno a, I ena
A icle
SMEs in a digi al e a: The ole o managemen
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Ci a ion: Mladeno a, I ena. 2024.
SMEs in a Digi al E a: The Role o
Managemen . Adminis a i e Sciences
14: 296. h ps://doi.o g/10.3390/
admsci14110296
Recei ed: 20 Sep embe 2024
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A icle
SMEs in a Digi al E a: The Role o Managemen
I ena Mladeno a
Facul y o Economics and Business Adminis a ion, So ia Uni e si y S . Klimen Oh idski, 1113 So ia, Bulga ia;
[email p o ec ed]
Abs ac : This a icle aims o explo e he ole o managemen in ansla ing he ex e nal ac o s’
and in e nal ba ie s’ impac s on he le el o adop ion o digi al echnologies as a le e o change
in business ope a ions and p ocesses in small- and medium-sized en e p ises (SMEs). SMEs
ace a dis inc se o challenges when adop ing digi al echnologies, o en lacking esou ces and
knowledge. On he o he hand, hey ha e ce ain cha ac e is ics, such as simple o ganisa ional
s uc u es and p ocesses, ha make hem mo e lexible han la ge i ms in le e aging echnologies
in o new business models. Da a o his s udy a e ob ained om 989 SMEs in Bulga ia in he
manu ac u ing and se ices sec o s. A PLS–SEM analysis con i ms eigh hypo heses aised on
he ela ionships be ween en i onmen al ac o s and go e nmen suppo and in e nal ac o s
(managemen suppo , o ganisa ional lexibili y, and isk- ole an cul u e) ha impac digi al
business in ensi y. En i onmen al ac o s’ impac is s onge han go e nmen suppo , while
in e nal ba ie s a e ound o ha e no s a is ically signi ican ela ionship. The esea ch indings
highligh he impo an ole o managemen suppo in guiding digi al ans o ma ion h ough
suppo ing o ganisa ional lexibili y and p omo ing a isk- ole an cul u e.
Keywo ds: digi al ans o ma ion; o ganisa ional change; SME; managemen suppo ; isk- ole an
cul u e; o ganisa ional lexibili y
1. In oduc ion
Digi al echnologies ha e ans o med socie ies and indus ies. Thei apid de el-
opmen and applica ion o a g owing scope o ac i i ies will con inue o lead o u he
dis up ions and shi s in how i ms do business. Jus i iably, esea che s’ in e es in how
i ms adop , use, and bene i om digi al echnologies is g owing.
The widesp ead di usion o digi al echnologies and hei ex ensi e e ec s is cap u ed
by he e m digi al e a (Schae e e al. 2018). I is cha ac e ised by he inc ease in speed
and b ead h o knowledge u no e wi hin socie ies and economies (Doukidis e al. 2004),
eshapes he business landscape, and p esen s new oppo uni ies o i ms (Liu e al. 2024).
Digi al echnologies and echnological ad ancemen s ha e majo social and economic
implica ions. Shephe d (2004) a gues ha he digi al e a will ha e he same e ec on all
membe s o socie ies and all economies. Impo an ly, as e echnological de elopmen
speeds up changes in he compe i i e landscape, equi ing o ganisa ions o eac quicke .
Ye , o ganisa ions a e in di e en s ages o adap ing o he digi al age, adop ing digi al
echnologies, and bene i ing om hem.
Digi al a e hose echnologies ha ely on he use o de ices, algo i hms, and appli-
ca ions ha a e dependen on compu e s o s o e, p ocess, and in e p e digi ised da a
(Go e s and Van Amels oo 2023). Thei adop ion and impac on business ha e gone a
long way om digi isa ion, e e ing o he ans e o analogue in o digi al da a; h ough
digi alisa ion ela ed o how digi al echnologies a e applied o p ocesses, p oduc s, and
se ices; and hen o digi al ans o ma ion (DT) (Dö e al. 2023). DT eme ges as he
dominan pa adigm (Rêgo e al. 2022) and can be de ined om h ee lenses— echnological,
o ganisa ional, and social (Reis e al. 2018). Acco ding o Vial’s de ini ion o DT, i is a
Adm. Sci. 2024,14, 296. h ps://doi.o g/10.3390/admsci14110296 h ps://www.mdpi.com/jou nal/admsci
Adm. Sci. 2024,14, 296 2 o 17
p ocess whe e digi al echnologies c ea e dis up ions which igge s a egic esponses and
hus ul ima ely al e alue c ea ion pa hs while managing s uc u al changes (Vial 2019).
Wessel e al. (2021) dis inguish DT om IT-enabled o ganisa ional ans o ma-
ion along wo dimensions— alue p oposi ion and o ganisa ional iden i y. DT is e-
la ed o ( e-)de ining he alue p oposi ion and in ol es a new o ganisa ional iden i y,
while IT-enabled ans o ma ion le e ages digi al echnologies o suppo he alue
p oposi ion and enhance he exis ing o ganisa ional iden i y (Wessel e al. 2021). The
in o ma ion-sys ems pe spec i e, ela ed o IT-enabled ans o ma ion, is signi ican ly
be e esea ched as compa ed o DT om he o ganisa ional and managemen s udies’
pe spec i e (Vial 2019).
While digi al ans o ma ion in la ge en e p ises is o en a well-s uc u ed p ocess and
elies on su icien inancial and human esou ces, he abo e is a ely ue o small- and
medium-sized en e p ises. SMEs ypically ace a dis inc se o challenges when u ning o
digi al echnologies such as limi ed esou ces and capabili ies (Zhang e al. 2022) ha may
hampe o delay hei digi alisa ion. OECD (2023) highligh s ha SMEs lag in digi alisa ion,
which is likely o nega i ely impac hei way o digi al ans o ma ion.
On he o he hand, SMEs’ smalle size and simple o ganisa ional s uc u es and p o-
cesses make hem mo e lexible (Ba ann e al. 2019) and able o in eg a e new echnologies
much as e (Becke and Schmid 2020). CEOs and ounde s a e ypically highly in luen ial
in he s a egic decision-making in SMEs (Elle e al. 2020;Ho o anyi e al. 2023), which
may ei he speed up DT o block i i hey do no pe cei e i bene icial.
F om he o ganisa ional s udies pe spec i e, DT can be de ined as a con inuous
o ganisa ional change (Hanel e al. 2021) desc ibing how i ms ede ine hei s uc u es,
p ocesses, and cul u e igge ed by digi al echnologies and how hey manage he ansi ion
owa ds he desi ed s a e (Rêgo e al. 2022). Nguyen e al. (2023) de ine DT as “ he use
o digi al echnologies o igge signi ican changes o he i m’s in e nal and ex e nal
p ocesses wi h an aim o imp o e he o ganisa ion”. Simila ly, Tangi e al. (2021, p. 2)
de ine DT in he con ex o he public sec o as “second-o de o ganisa ional changes
enabled by digi al echnologies ans o ming he way o ganisa ions a e s uc u ed and
o ganised and esul ing in a new s a e, om he poin o iew o p ocesses, cul u e, oles,
ela ionships, and possibly all aspec s o he o ganisa ion”. C ea ing new alue p oposi ions
and new business models and ul ima ely gaining and sus aining a compe i i e ad an age
a e he aims o his o ganisa ional change. Howe e , Hanel e al. (2021) obse e ha he
o ganisa ional change app oach used in DT esea ch is a he limi ed.
This s udy de i es an ope a ional de ini ion o DT om he o ganisa ional change
pe spec i e and d aws on he abo e au ho s. I in e p e s DT as a con inuous o ganisa-
ional change ha is suppo ed by he adop ion o digi al echnologies and mani es ed
h ough he al e a ion o o ganisa ional elemen s such as s uc u e, p ocesses, and cul-
u e. DT le e ages digi al echnologies and o ganisa ional elemen s wi h he aim o
gaining and sus aining a compe i i e ad an age h ough new alue p oposi ions and
business models.
The numbe o s udies on SME digi alisa ion has g own signi ican ly o e he yea s
wi h he aim o unde s anding he digi alisa ion an eceden s, ou comes, and p ocesses.
Howe e , SME- ela ed esea ch e e s o ei he a me e echno-cen ic (in es iga ing
classes o echnology) o a s a egic opic (Meie 2021). Ex an li e a u e is sho o em-
pi ical s udies which ake he o ganisa ional pe spec i e o explain DT in SMEs (Palade
and Mølle 2023). Mo eo e , he dis inc challenges o SMEs ques ion he applicabil-
i y o o ganisa ional heo ies and p ac ices ha i la ge en e p ises (Hu e al. 2024).
González-Va ona e al. (2021) highligh he insu icien esea ch ocus on o ganisa ional
compe ence o d i e DT in SMEs.
Insu icien empi ical s udies o he o ganisa ional changes in SMEs suppo ed by he
adop ion o digi al echnologies and he speci ic ole o owne s and manage s is iden i ied
as a esea ch gap add essed in his a icle. Na ional con ex s a e cha ac e ised by di e ences
in he ex e nal ac o s’ in ensi y and impac on SME DT; hus, adding empi ical esea ch on
Adm. Sci. 2024,14, 296 3 o 17
coun ies wi h SMEs ha a e less ad anced on hei DT pa h can p o ide u he p oo o
he applicabili y o DT app oached as a con inuous o ganisa ional change.
This s udy aims o con ibu e o he abo e esea ch gaps and o expand esea ch
e idence on ex e nal ac o s and capabili ies ha impac SMEs’ digi al ans o ma ion. The
open-sys ems heo y and he esou ce-based heo y guide his esea ch.
The es o his pape is s uc u ed as ollows: The Sec ion 2de elops he s udy
hypo heses based on he li e a u e e iew. The Sec ion 3desc ibes he s udy con ex ,
sample, a iables and measu es used and he analy ical p ocedu e employed. The Sec ion 4
p esen s he esul s ob ained. The Sec ion 5o e s discussion, including he unde lying
implica ions and limi a ions o his s udy. The Sec ion 6concludes.
2. Theo e ical Backg ound and Hypo heses De elopmen
Sys em heo ies a e heo ies o o ganisa ional change ha see o ganisa ions as dy-
namic sys ems o adap a ion and e olu ion ha con ain mul iple pa s in e ac ing wi h
one ano he and he en i onmen (Amagoh 2008). Gene al sys ems heo y helps explain
he beha iou and s uc u e o o ganised en i ies, such as o ganisa ions (Von Be alan y
1972). Wi hin his b oad amewo k, he open-sys ems app oach came as a esponse o
he ealisa ion ha he beha iou o o ganisa ional sys ems is ha d o explain wi hou con-
side ing he en i onmen al ela ionships and e ec s, and how o ganisa ions in e ac wi h
hei en i onmen (Cummings 2015). The open-sys ems app oach iews o ganisa ions as
using inpu s om and p oducing ou pu s back o he en i onmen (Hammond 2003). They
main ain a deg ee o non-equilib ium and can be bes unde s ood h ough he dynamic
in e ac ions and ela ionships among hei uni s (Von Be alan y 1972). Impo an ly, he
en i onmen is no simply in luencing he o ganisa ion, bu “a high- a ie y en i onmen is
a necessi y o an open sys em” (Pondy and Mi o 1979).
Open-sys ems concep s ha e signi ican ly in luenced o ganisa ional heo y and e-
sea ch, pa icula ly in explo ing how o ganisa ions in e ac and adap o dynamic and
unp edic able en i onmen s. These concep s help explain he beha iou o o ganisa ions
in coping wi h con inuous change (Amagoh 2008) and can bene i DT s udies ha con-
cep ualise i as a con inuous change igge ed by digi al echnologies (Dö e al. 2023;
Hanel e al. 2021;Rêgo e al. 2022). DT does no only change inpu –ou pu o p ocesses
bu also s a egies and plans o c ea e new alue o ma ke oppo uni ies (Dö e al. 2023);
i impac s o ganisa ional s uc u e and wo k sys ems.
The esou ce-based heo y u ns he a en ion o he in e nal ac o s ( esou ces and
capabili ies) and decisions con olled by he i m, which complemen he s a egic posi ion-
ing and hus p o ide a mo e comple e iew o he compe i i e ad an age de e minan s
(Eisenha d and Ma in 2000). I dis inguishes be ween doing (capabili ies) and ha ing
( esou ces). The i m esou ces, i s compe i o s’ esou ces, and en i onmen al limi a ions
(such as indus y and go e nmen al policy) a e among he key ac o s ha impac he i m
pe o mance (Conne 1991). Ye , he o ganisa ion i sel is he main sou ce o i s compe i i e
ad an age (A end and Lé esque 2010). The i m esou ces, howe e , may also ac as
ba ie s o ce ain s a egic choices (We ne el 1984).
The heo e ical amewo k illus a ed in Figu e 1a emp s o in eg a e he open-
sys ems concep and he esou ce-based heo y. This s udy concep ualises he o ganisa ion
as an open sys em ha is in luenced by (and in luences) i s en i onmen and copes wi h
cons an change. Digi al echnologies a e one o he signi ican igge s o change.
Pe o mance is la gely in luenced by en i onmen al ac o s (compe i o s’ esou ces,
cus ome equi emen s, supplie esou ces) and limi a ions (go e nmen policy, among
o he s). In e nal esou ces and capabili ies a e he main sou ces o compe i i e ad an age,
gi en he en i onmen al impac , bu may also ac as limi a ions, as bo h a e no s a ic and
e ol e o e ime. Capabili ies include ou ines o pe o m indi idual asks and ou ines o
coo dina e he indi idual asks (Hel a and Pe e a 2003).
Adm. Sci. 2024,14, 296 4 o 17
Adm. Sci. 2024, 14, x FOR PEER REVIEW 4 o 19
Figu e 1. Theo e ical amewo k o his s udy. No e: The lis o esou ces and capabili ies is non-
exhaus i e and is based on Newbe (2007).
Pe o mance is la gely in luenced by en i onmen al ac o s (compe i o s’ esou ces,
cus ome equi emen s, supplie esou ces) and limi a ions (go e nmen policy, among
o he s). In e nal esou ces and capabili ies a e he main sou ces o compe i i e ad an age,
gi en he en i onmen al impac , bu may also ac as limi a ions, as bo h a e no s a ic and
e ol e o e ime. Capabili ies include ou ines o pe o m indi idual asks and ou ines
o coo dina e he indi idual asks (Hel a and Pe e a 2003).
2.1. Ex e nal Fac o s
S udies on DT ha e explo ed he ole o di e en ex e nal ac o s ha p omo e o
hampe digi al echnology adop ion, such as compe i ion, cus ome s, and o he s ake-
holde s. In a bibliome ic e iew, Hu e al. (2024) iden i y ou ex e nal ac o s ha de e -
mine DT–go e nmen policies and egula ions, ma ke compe i ion, digi al echnique,
and digi al pla o m. These in e ac wi h in e nal ac o s (s a egy, managemen , cul u e,
and IT capabili ies) o impac he DT p ocess. O he s udies also highligh he ole o en-
i onmen al ac o s, such as cus ome s, compe i ion, and digi al echnology de elopmen
(Om ani e al. 2022), in d i ing DT. Vial (2019) poin s a consume beha iou and expec-
a ions and he compe i i e landscape as wo dis up ions esul ing om he as de elop-
men and adop ion o digi al echnologies.
SMEs a e an impo an ing edien o na ional economies, measu ed by hei sha e in
g oss domes ic p oduc , inno a ion ac i i ies, and employmen . Unde s andably, many
na ional and in e na ional policies ocus on digi al up ake by SMEs (such as (Eu opean
Commission n.d.b.; OECD n.d.)) and suppo mechanisms aimed o boos DT in SMEs.
Go e nmen al policies and suppo a e de ised o add ess he de iciencies o SMEs in
hei DT pa h, such as he o en-ci ed lack o inancial esou ces, aining digi al skills, e c.
Ye , Hu e al. (2024) iden i y he ole o go e nmen s and o he s akeholde s in acili a ing
SMEs’ DT as an unde - esea ched a ea.
The ole o owne /manage is ci ed by many au ho s as one o he impo an cha ac-
e is ics o SMEs (Palade and Mølle 2023). The owne /manage has a key ole in ansla -
ing ex e nal signals in o s a egies and ope a ions. Go e nmen incen i es and suppo
mechanisms ha a e pe cei ed as add essing he in e nal de iciencies a e hypo hesised o
inc ease he managemen suppo o digi alisa ion, gi en digi alisa ion i sel is pe cei ed
as bene icial.
The ollowing hypo heses a e aised:
Figu e 1. Theo e ical amewo k o his s udy. No e: The lis o esou ces and capabili ies is non-
exhaus i e and is based on Newbe (2007).
2.1. Ex e nal Fac o s
S udies on DT ha e explo ed he ole o di e en ex e nal ac o s ha p omo e o
hampe digi al echnology adop ion, such as compe i ion, cus ome s, and o he s ake-
holde s. In a bibliome ic e iew, Hu e al. (2024) iden i y ou ex e nal ac o s ha
de e mine DT–go e nmen policies and egula ions, ma ke compe i ion, digi al ech-
nique, and digi al pla o m. These in e ac wi h in e nal ac o s (s a egy, managemen ,
cul u e, and IT capabili ies) o impac he DT p ocess. O he s udies also highligh he
ole o en i onmen al ac o s, such as cus ome s, compe i ion, and digi al echnology de-
elopmen (Om ani e al. 2022), in d i ing DT. Vial (2019) poin s a consume beha iou
and expec a ions and he compe i i e landscape as wo dis up ions esul ing om he
as de elopmen and adop ion o digi al echnologies.
SMEs a e an impo an ing edien o na ional economies, measu ed by hei sha e in
g oss domes ic p oduc , inno a ion ac i i ies, and employmen . Unde s andably, many
na ional and in e na ional policies ocus on digi al up ake by SMEs (such as (Eu opean
Commission n.d.;OECD n.d.)) and suppo mechanisms aimed o boos DT in SMEs.
Go e nmen al policies and suppo a e de ised o add ess he de iciencies o SMEs in hei
DT pa h, such as he o en-ci ed lack o inancial esou ces, aining digi al skills, e c. Ye ,
Hu e al. (2024) iden i y he ole o go e nmen s and o he s akeholde s in acili a ing
SMEs’ DT as an unde - esea ched a ea.
The ole o owne /manage is ci ed by many au ho s as one o he impo an cha -
ac e is ics o SMEs (Palade and Mølle 2023). The owne /manage has a key ole in
ansla ing ex e nal signals in o s a egies and ope a ions. Go e nmen incen i es and
suppo mechanisms ha a e pe cei ed as add essing he in e nal de iciencies a e hypo he-
sised o inc ease he managemen suppo o digi alisa ion, gi en digi alisa ion i sel is
pe cei ed as bene icial.
The ollowing hypo heses a e aised:
H1. En i onmen al ac o s (cus ome s, supplie s, compe i o s, digi al echnologies de elopmen )
di ec ly and posi i ely in luence managemen suppo o digi alisa ion in SMEs.
H2. Go e nmen suppo ( inancial suppo , ax bene i s) di ec ly and posi i ely in luences
managemen suppo o digi alisa ion in SMEs.

Adm. Sci. 2024,14, 296 5 o 17
2.2. In e nal Ba ie s
When hey a e aluable, a e, inimi able, and non-subs i u able, he esou ces and
capabili ies o an o ganisa ion may be he sou ce o i s compe i i e ad an age and hus
sus ained pe o mance (Ba ney 1991). Acco ding o A end and Lé esque (2010), when
a i m chooses o al e i s esou ce bundle in line wi h a be e -pe o ming benchma k,
i does no know he p oduc ion unc ion; hus, he choice o es uc u e is pe cei ed by
managemen as cos ly and isky, and ha migh lead o hesi a ion o ini ia e such a change
in he esou ce and capabili ies base.
Vial (2019) iden i ied se e al ba ie s o DT om he in e nal o ganisa ional en i on-
men , mos signi ican o which a e ela ed o ine ia and esis ance. These can s em om
a lack o lexibili y, a misma ch be ween he a ailable capabili ies and esou ces and he
equi emen s o DT, o angible and in angible o ganisa ional componen s ha esul in
ine ia. Legacy IT sys ems esul in esis ance and limi he oppo uni ies o adop new
digi al echnologies quickly (Al-Emadi and Anouze 2018). A ela ed s udy ound suppo
o he in e ac ion o in o ma ion echnology in as uc u e and e-comme ce capabili y
(Newbe 2007).
The o ganisa ional change s udies iden i y se e al o he ba ie s ha need a en ion.
Valence, o whe he employees assess he change as pe sonally bene icial, is c ucial o
hei suppo o esis ance (Hol e al. 2007;O eg e al. 2011). Change is ela ed o adop ing
new beha iou s, and inadequa e employee incen i isa ion and in ol emen can p o oke
nega i e eac ions and esis ance. O ganisa ional cul u e igidi ies, such as alues and
belie s, may also pose ba ie s and lead o esis ance (Al-Emadi and Anouze 2018). Se e al
au ho s highligh he lack o manage ial unde s anding o DT as a ac o ha educes
suppo (Tangi e al. 2021).
H3. In e nal ba ie s (legacy IT sys ems, lack o unde s anding and incen i es, esis ance) di ec ly
and nega i ely in luence managemen suppo o digi alisa ion in SMEs.
2.3. The Role o Managemen
The ole o managemen is b oadly ag eed o be one o he key success ac o s in
implemen ing o ganisa ional change (Bu ke 2011;Ko e 2007;Mladeno a and Da idko
2023;Yukl 2012). Simila ly, DT s udies unde line he managemen ’s quali ies (Hu e al.
2024), DT awa eness, accele a ion skills and ha monising skills (Hanel e al. 2021), suppo ,
and ole in de eloping he digi al mindse wi hin he o ganisa ion (Vial 2019).
SMEs a e cha ac e ised by la e and mo e lexible o ganisa ional s uc u es (Inan and
Bi i ci 2015) ha enable hem o adap and eac o changes as e . The la e hie a chies
allow mo e in o mal con ac s and collabo a ion be ween depa men s. O ganisa ional
lexibili y, on he o he hand, is poin ed ou as an impo an DT ac o (Be ghaus and Back
2016;Kane 2019;Vial 2019). Becke and Schmid (2020) a gue ha SMEs ha do no ha e
o ganisa ional lexibili y will achie e i as a esul o DT. SME managemen is in ol ed
in bo h ope a ional and s a egic opics; decision-making p ocesses a e less s anda dised
and o malised (Inan and Bi i ci 2015) and a e hus expec ed o ha e a di ec in luence on
o ganisa ional lexibili y.
H4. Managemen suppo di ec ly and posi i ely in luences o ganisa ional lexibili y.
Managemen suppo is an an eceden o he implemen a ion o digi al s a egies and
echnologies (Al-Emadi and Anouze 2018) in o ganisa ions. Managemen in SMEs has a
c ucial ole in ini ia ing and d i ing DT (Annosi e al. 2023;Li e al. 2018). The pace o
adop ion o digi al echnologies and le e aging hem o digi ally ans o m he business is
la gely in luenced by he unde s anding and suppo o SME owne s/manage s. Meie
(2021) also a gues ha managemen ’s openness and commi men a e among he key ac o s
suppo ing SME digi alisa ion.
Adm. Sci. 2024,14, 296 6 o 17
H5. Managemen suppo di ec ly and posi i ely in luences digi al business in ensi y.
Leade ship is ins umen al in shaping clima e and cul u e in o ganisa ions
(Schneide e al. 2017
). An e en s onge ela ionship can be expec ed in SMEs whe e lead-
e s a e in ol ed mo e in ope a ional han s a egic issues (Inan and Bi i ci 2015) and hus
la gely in luence he cul u e h ough decisions and demons a ions on wha beha iou s
a e accep able and encou aged o no , e c. Cul u e in o ganisa ions e lec s he sha ed
belie s, alues, no ms, and aspi a ions o he membe s o he o ganisa ion, which de ine he
beha iou s and guide he con e sa ions. The managemen impac s cul u e in he desi ed
di ec ion (Schneide e al. 2017), and he cul u al con ex in luences he p ocess, con en s,
and goals o o ganisa ional changes (Hempel and Ma insons 2009). DT is ela ed o inno-
a ion and aking isks and hus equi es a cul u e ha accep s inno a ion- ela ed isks
and encou ages open discussion and lea ning om mis akes. The managemen suppo is
hypo hesised o di ec ly in luence such a isk- ole an cul u e in SMEs.
H6. Managemen suppo di ec ly and posi i ely in luences isk- ole an cul u e.
The challenges o he digi al e a a e associa ed wi h complex dynamics be ween
echnology, s uc u e, and cul u e in o ganisa ions (Hu e al. 2024). O ganisa ional cul u e
is ound o in luence lexibili y and change and ela e o inno a ion (Shahzad e al. 2017).
A cul u e ha accep s isks and le e ages collabo a ion in e nally and ex e nally is
hypo hesised o in luence o ganisa ional lexibili y.
H7. Risk- ole an cul u e di ec ly and posi i ely in luences o ganisa ional lexibili y.
2.4. Le e aging Digi al Technologies o Changing P ocesses and Ope a ions
The le el o digi al in ensi y e lec s he deg ee o which a i m uses di e en digi-
al echnologies ac oss i s p ocesses (De Ma os e al. 2023), such as big da a, analy ics,
c
loud, e
c. SMEs end o adop less complex, simple digi al solu ions (De Ma os e al.
2023;OECD 2021). Digi al business in ensi y measu es he in es men in inno a i e digi al
echnologies (Nwankpa and Da a 2017). The adop ion o digi al echnologies d i es new
business p ocesses and hus enables inno a ion and he c ea ion o new business models.
Go e s and Van Amels oo (2023) highligh ha DT e e s o a cul u al change
wi hin o ganisa ions o con inually challenge hei s a us quo, expe imen , and become
com o able wi h ailu e. Vial (2019) ou lines he key ea u es o digi al cul u e o be a
willingness o ake isks, o expe imen , and o p omo e lea ning ( om mis akes). A cul u e
ha is open o aking isks, openly discussing ailu e, and s i ing o de elop inno a ion is
hypo hesised o posi i ely impac he in eg a ion and le e aging digi al echnologies o
enew i s business p ocesses.
H8. Risk- ole an cul u e di ec ly and posi i ely in luences digi al business in ensi y.
Adop ing digi al echnologies equi es an o ganisa ional s uc u e ha is lexible
enough o adap o changes (Ve hoe e al. 2021). DT encou ages i ms o de elop mo e
adap i e s uc u es (Hanel e al. 2021). Kane (2019) highligh s he ole o agili y and collab-
o a ion. The digi al echnologies’ impac equi es alignmen o s uc u es and p ocesses
wi hin he o ganisa ion (Fichman and Nambisan 2010). An o ganisa ional s uc u e ha
enables quick adap a ion o change and le e ages collabo a ion would in luence he digi al
business in ensi y.
H9. O ganisa ional lexibili y di ec ly and posi i ely in luences digi al business in ensi y.
The abo e nine hypo heses a e illus a ed in he esea ch model (Figu e 2).
Adm. Sci. 2024,14, 296 7 o 17
Adm. Sci. 2024, 14, x FOR PEER REVIEW 7 o 19
ha enables quick adap a ion o change and le e ages collabo a ion would in luence he
digi al business in ensi y.
H9. O ganisa ional lexibili y di ec ly and posi i ely in luences digi al business in ensi y.
The abo e nine hypo heses a e illus a ed in he esea ch model (Figu e 2).
Figu e 2. Resea ch model. En i onmen al ac o s (EF), go e nmen suppo (GS), in e nal ba ie s
(BD), managemen suppo (MS), o ganisa ional lexibili y (OF), isk- ole an cul u e (RC), digi al
business in ensi y (DI).
3. Ma e ials and Me hods
3.1. Con ex
This s udy is conduc ed in Bulga ia o se e al easons. The coun y has s ong a-
di ions in he IT and elec onics sec o s and is o en e e ed o as he Silicon Valley o
Sou heas e n Eu ope (Eu opean Commission n.d.a.). The o icial s a is ics epo s 412,124
SMEs, which ep esen 99.81% o all i ms in Bulga ia in 2021 (BSMEPA n.d.). SMEs con-
ibu ed 74% o he o al employmen and 66.5% o he g oss alue added. Bulga ian SMEs
ace simila challenges as hose in o he coun ies, wi h e ec i e in oduc ion o ICT solu-
ions and digi alisa ion being an impo an one (BSMEPA n.d.). The Na ional SME S a -
egy 2021–2027 highligh s he need o suppo specialisa ion in high- ech manu ac u ing
and knowledge-in ensi e se ices and digi alisa ion in all economic sec o s. Ye , Bulga -
ian SMEs lag behind la ge i ms in using digi al echnologies, such as social media, cloud
compu ing, da a analy ics, e c. (NSI 2023), bu also as compa ed o hei Eu opean coun-
e pa s. Acco ding o Eu os a (2024), nea ly 60% o EU SMEs each basic digi al in en-
si y, while in Bulga ia, his pe cen age is less han 30%.
3.2. Sample
The a ge popula ion o his s udy included SMEs in Bulga ia in he manu ac u ing
and se ices sec o s. The sample was cons uc ed o ep esen hese sec o s, i.e., ma ching
hei sha e and he numbe o SMEs in he na ional economy and in each o he wo sec-
o s. The sampling ame was cons uc ed based on he Na ional Business S a is ics (Busi-
ness Regis y). SMEs we e andomly selec ed o gua an ee he sample was ep esen a i e.
A local ma ke esea ch i m collec ed da a, isi ing he esponden s’ p emises du ing he
pe iod Oc obe -Decembe 2023. Da a we e collec ed ia a s anda dised ques ionnai e,
wi h a single esponden o each i m. The da a collec ion me hod was a ace- o- ace in-
e iew on he esponden ’s p emises. All ques ions we e manda o y. The ques ionnai e
was sc ip ed in a specialised pla o m o able -assis ed ielding.
In o al, 989 illed-in ques ionnai es (59% esponse a e) we e alid and used o he
subsequen analysis. The ques ionnai e included i ems used o collec demog aphic
Figu e 2. Resea ch model. En i onmen al ac o s (EF), go e nmen suppo (GS), in e nal ba ie s
(BD), managemen suppo (MS), o ganisa ional lexibili y (OF), isk- ole an cul u e (RC), digi al
business in ensi y (DI).
3. Ma e ials and Me hods
3.1. Con ex
This s udy is conduc ed in Bulga ia o se e al easons. The coun y has s ong adi-
ions in he IT and elec onics sec o s and is o en e e ed o as he Silicon Valley o Sou h-
eas e n Eu ope (Eu opean Commission n.d.). The o icial s a is ics epo s 41
2,124 S
MEs,
which ep esen 99.81% o all i ms in Bulga ia in 2021 (BSMEPA n.d.). SMEs con ibu ed
74% o he o al employmen and 66.5% o he g oss alue added. Bulga ian SMEs ace
simila challenges as hose in o he coun ies, wi h e ec i e in oduc ion o ICT solu ions
and digi alisa ion being an impo an one (BSMEPA n.d.). The Na ional SME S a egy
2021–2027 highligh s he need o suppo specialisa ion in high- ech manu ac u ing and
knowledge-in ensi e se ices and digi alisa ion in all economic sec o s. Ye , Bulga ian
SMEs lag behind la ge i ms in using digi al echnologies, such as social media, cloud com-
pu ing, da a analy ics, e c. (NSI 2023), bu also as compa ed o hei Eu opean coun e pa s.
Acco ding o Eu os a (2024), nea ly 60% o EU SMEs each basic digi al in ensi y, while in
Bulga ia, his pe cen age is less han 30%.
3.2. Sample
The a ge popula ion o his s udy included SMEs in Bulga ia in he manu ac u ing
and se ices sec o s. The sample was cons uc ed o ep esen hese sec o s, i.e., displaying
hei sha e and he numbe o SMEs in he na ional economy and in each o he wo sec o s.
The sampling ame was cons uc ed based on he Na ional Business S a is ics (Business
Regis y). SMEs we e andomly selec ed o gua an ee he sample was ep esen a i e. A
local ma ke esea ch i m collec ed da a, isi ing he esponden s’ p emises du ing he
pe iod Oc obe -Decembe 2023. Da a we e collec ed ia a s anda dised ques ionnai e, wi h
a single esponden o each i m. The da a collec ion me hod was a ace- o- ace in e iew
on he esponden ’s p emises. All ques ions we e manda o y. The ques ionnai e was
sc ip ed in a specialised pla o m o able -assis ed ielding.
In o al, 989 illed-in ques ionnai es (59% esponse a e) we e alid and used o
he subsequen analysis. The ques ionnai e included i ems used o collec demog aphic
in o ma ion abou he i m (economic sec o , numbe o employees, yea o es ablishmen ,
owne ship) as well as abou he esponden (job posi ion, educa ion, age).
The demog aphic p o ile o he i ms in he sample is p esen ed in Table 1, and he job
posi ions o he esponden s a e p esen ed in Table 2.
Adm. Sci. 2024,14, 296 8 o 17
Table 1. Fi ms p o ile (N = 989).
Fi ms P o ile Numbe Pe cen age
Size (M = 31.21, SD = 44.905)
0–9 employees (mic o) 419 42.37
10–49 employees (small) 334 33.77
50–249 employees (medium-sized) 236 23.86
Sec o
Manu ac u ing 474 47.93
Se ices 515 52.07
Fi m age (M = 17.78, SD = 9.107)
0–6 yea s 132 13.35
7–15 yea s 254 25.68
16–20 yea s 214 21.64
21–30 yea s 299 30.23
>30 yea s 90 9.10
To al 989 100
Table 2. Job posi ion o he esponden s (N = 989).
Job Posi ion Numbe Pe cen age
(Co-)Owne 338 34.2
Execu i e di ec o 308 31.1
Membe o he boa d o di ec o s 36 3.6
Finance di ec o 24 2.4
Sales di ec o 59 6.0
Chie accoun an 178 18.0
IT di ec o 46 4.7
To al 989 100
3.3. Va iables and Measu es
This s udy de ines se en e lec i e a iables. The i ems o hei measu emen we e
iden i ied based on he li e a u e e iew. I ems we e ansla ed in o Bulga ian language
and adap ed whe e necessa y o e lec he local language speci ics. All i ems a e measu ed
using a 5-poin Like scale, whe e 1 = no a all impo an /comple ely disag ee/no ele-
an and 5 = mos impo an /comple ely ag ee/mos ele an . The ope a ional de ini ions
o he a iables, indica o s, and sou ces a e p esen ed in Appendix A.
3.4. Analy ical P ocedu e
Da a we e analysed using RS udio, .1.3.1073. PLS–SEM was selec ed as he applica-
ble analy ical p ocedu e due o he cha ac e is ics o he da ase (non-no mal dis ibu ion)
and he complexi y o he esea ch model, which includes many a iables, indica o s,
and ela ionships (Hai e al. 2019). The analysis ollows he guidelines ou lined by
Hai e al. (2021). The selec ed analy ical p ocedu e is applied o assess he esea ch
model’s signi icance and explana o y powe .
4. Resul s
4.1. E alua ion o he Measu emen Model
The e alua ion o he measu emen model s a ed wi h an examina ion o i em load-
ings. The indica o s a e su icien ly eliable wi h all loadings > 0.7 (see Appendix A).
To assess he in e nal consis ency eliabili y, he composi e eliabili y ( hoC) and
a e age a iance ex ac ed (AVE) a e examined. RhoC alues a e be ween 0.876 and
0.932, below he ule-o - humb h eshold o 0.95, sugges ing ha he composi e eliabil-
i y is good. AVE alues ange om 0.639 o 0.801 and hus mee he equi emen o
AVE > 0.5. This indica es ha he measu es o all a iables ha e high le els o con e gen
alidi y. C onbach’s alpha alues a e also sa is ac o y, anging om 0.812 o 0.903. Table 3
summa ises he esul s o he eliabili y and alidi y examina ion.
The he e o ai –mono ai (HTMT) and Fo nell–La cke c i e ia a e applied o es
he disc iminan alidi y. All HTMT alues a e below 0.90, and he examina ion o he
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