Successful Digital Transformation Initiatives in SMEs: A Relational Goods Perspective

SMEs make up more than the 95% of businesses operating worldwide, and these firms are fundamental assets in any national economy. Many innova
tions often originate in SMEs, and a large percentage of the world’s popu
lation works either in a micro, small, or medium enterprise. These firms make up the fabric of the economic system and are often key suppliers for their larger counterparts. SMEs are often late-comers, lagging behind when it comes to digitalization projects (Frederico, 2021). This can often lead to problems related to competitivity through loss of control or lower margins. Scholarly literature has paid little attention to the possible solu
tions that could be used to address this problem. Moreover, extant research has mostly focused on the role of technological characteristics and eco
nomic incentives, pushing SMEs toward digital transformation. As with any business transformation, the selected change management strategy is fundamental in driving transformation. Building on this, this book brings the analysis back to SMEs’ roots, focusing on employees. Using a rela
tional goods-based perspective, the authors seek to understand how rela
tionships existing between groups of employees and between staff and managers are fundamental in facilitating successful digital transformation in SMEs.