"Navigating through the digital swamp" : assessing SME propensity for online marketplaces

Gonçalves, Marta P. V. (author), Ferreira, Fernando Alberto Freitas (author), Dabić, Marina (author), Ferreira, João J. M. (author)

Digital technology has produced deep changes in the business world. However, companies have a hard time understanding consumers' changing needs and new consumption patterns, especially small and medium-sized enterprises that currently face growing challenges in an era characterized by a lack of time and information overload. New mechanisms must be found that not only can keep businesses competitive in digital environments but can do so in innovative and sustainable ways. This study sought to address this issue by adopting a process-oriented approach and developing a decision-support tool for SMEs that are considering joining online marketplaces. The proposed analysis model helps these companies decide whether they are ready to take advantage of these digital platforms or whether they have to take action to improve in specific areas of their business operations. The model-building process relied on a combination of cognitive mapping and the best–worst method. An expert panel was recruited to identify the most relevant factors determining SME readiness to join online marketplaces. The model was applied to a set of real companies to assess their propensity for online marketplaces. The practical applicability of this decision-support system was then discussed in a consolidation session with a member of Portugal's Agência Nacional de Inovação (National Innovation Agency), who acknowledged the strong potential of the proposed model.

• Language: English
• Keywords: organization, information technology, best–worst method, BWM, cognitive mapping, digital transformation, firm performance, online marketplace, small and medium-sized enterprise, SME
• Work type: Article
• Typology: 1.01 - Original Scientific Article
• Organization: EF - School of Economics and Business
• Publication status: Published
• Publication version: Version of Record
• Year: 2024
• Number of pages: Str. 2583–2612
• Numbering: Vol. 18, iss. 9
• PID: 20.500.12556/RUL-159753
• UDC: 659.2:004
• ISSN on article: 1863-6683
• DOI: 10.1007/s11846-023-00704-2
• COBISS.SI-ID: 170508803
• Publication date in RUL: 23.07.2024

Record is a part of a journal

• Title: Review of managerial science
• Shortened title: Rev. manag. sci.
• Publisher: Springer Nature
• ISSN: 1863-6683
• COBISS.SI-ID: 514963737

Licences

• License: CC BY 4.0, Creative Commons Attribution 4.0 International
• Link: http://creativecommons.org/licenses/by/4.0/
• Description: This is the standard Creative Commons license that gives others maximum freedom to do what they want with the work as long as they credit the author.

Secondary language

• Language: Slovenian
• Keywords: organizacija, informacijska tehnologija, digitalna transformacija

Projects

• Funder: FCT - Fundação para a Ciência e a Tecnologia, I.P.
• Project number: UIDB/00315/2020

• Funder: ARRS - Slovenian Research Agency
• Project number: P5-0441
• Name: Regeneracija ekonomije in posla