The Role of Top Management Support in Driving Digital Transformation of SMEs in Vietnam: A TOE Framework Approach
Abstract
This study aims to explore the mechanism through which various factors influence the digital transformation process of Vietnamese small and medium-sized enterprises (SMEs), based on the Technology - Organization - Environment (TOE) framework, emphasizing the important role of top management support. Data were collected from 335 SMEs using a convenience sampling method. The Partial Least Squares Structural Equation Modeling (PLS-SEM) approach was conducted using SmartPLS software. The findings indicated that top management support has a significant impact on technology readiness, security, and the allocation of financial resources for digital transformation. In addition, the results confirmed the positive effects of the fundamental factors within the TOE framework on the success of digital transformation. However, Government policies were not found to be a driving force in this process. The results provide managerial implications for enhancing the innovation capabilities of SMEs through digital transformation.
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