Next Article in Journal
A Bibliometric Systematic Literature Review on the Relationship Between Problem-Based Learning Methodology and Entrepreneurship
Previous Article in Journal
Academic Social Entrepreneurship: A Contemporary Reflection from Schumpeter’s Economic Sociology
 
 
Search for Articles:
Title / Keyword
Author / Affiliation / Email
Journal
Article Type
 
 
Advanced Search
 
Section
Special Issue
Volume
Issue
Number
Page
 
Journals
Businesses
Volume 4
Issue 4
10.3390/businesses4040041
businesses-logo
Submit to this Journal Review for this Journal Propose a Special Issue
► Article Menu

Article Menu

share Share announcement Help format_quote Cite question_answer Discuss in SciProfiles
first_page
settings
Order Article Reprints
Font Type:
Arial Georgia Verdana
Font Size:
Aa Aa Aa
Line Spacing:
Column Width:
Background:
Article

Harnessing Disruptive Innovation: A Conceptual Model for SME Growth and Adaptation

by
Hanlie Smuts
1,*,
Lizette Weilbach
1,
Kesseven Padachi
2,
Aleesha Boolaky
2,
Diroubinee Mauree-Narrainen
2,
Needesh Ramphul
2 and
Hemant Chittoo
2
1
Department of Informatics, School of Information Technology, Faculty of Engineering, Built Environment and Information Technology, University of Pretoria, Pretoria 0083, South Africa
2
Department of Accounting, Finance and Economics, School of Business Management and Finance, University of Technology, Port Louis 11134, Mauritius
*
Author to whom correspondence should be addressed.
Businesses 2024, 4(4), 738-764; https://doi.org/10.3390/businesses4040041
Submission received: 20 September 2024 / Revised: 9 November 2024 / Accepted: 20 November 2024 / Published: 27 November 2024
Browse Figures
Versions Notes

Abstract

:
In the context of sustaining innovation, small and medium enterprises (SMEs) strive to enhance their market position through product improvements. However, globalization and rapid technological advancements pose significant challenges, urging SMEs to integrate innovative capabilities into their business models. Effective SME business model innovation, fueled by customer insights, process efficiency, and technology application, can promote development and unlock additional value-creation resources. Despite this, SMEs encounter difficulties in capitalizing on disruptive innovation due to the competitive, technology-driven, and volatile global market. This study aimed to define a comprehensive conceptual model of disruptive innovation specifically tailored for SMEs. Through an automated content analysis of relevant literature, 13 themes and 82 concepts were identified and categorized into four strategic alignment domains. These domains provide a framework for operationalizing the findings and constructing a conceptual model of disruptive innovation. Utilizing this conceptual model as a checklist can assist SMEs in turning disruption into opportunity, thereby supporting their adaptation and growth in an increasingly competitive landscape.

1. Introduction

Innovation creates business value and, in a constantly changing market, enables an organization to maintain its success [1,2]. Organizational success may be associated with value creation from new revenue opportunities, from driving more revenue through existing channels, and from optimizing efficacy, resulting in improved performance and productivity [3,4]. The impetus of such sustaining innovation is to protect the position of small and medium enterprises (SMEs) in the market through product improvements [5]. However, the SME market position is impacted by globalization and technological evolution, urging SMEs to address opportunities and threats by adding innovative capabilities to their business models [6]. SME business model innovation, supported by customer insight, process efficacy, and the application of technology, effectively drives SME development [7,8,9] and enables access to complementary value-creation resources [10,11,12]. In contrast to sustaining innovation, disruptive innovation empowers SMEs to seize or create new markets by utilizing new technologies and other value-creation resources [13,14]. Disruptive innovation, in this context, is not just an outcome; it is a complete and progressive process [13], enabling SMEs to break into new markets and move higher up the value chain [15]. If managed optimally, the adoption and commercialization of these value-creation resources and new technologies can enable SMEs to leap-frog the traditional ways of development and innovate [16].
However, external and internal factors inhibit SMEs from optimizing the value of disruptive innovation [1]. One of the biggest challenges that SMEs face, is the competitiveness of the global market that is recognized by its highly demanding, technology-driven, and turbulent environment [17,18]. Resource scarcity, lack of funding, and absence of government support hinder SMEs from implementing these new technologies and disruptive innovation [19,20]. Furthermore, SME disruptive innovation is hampered by limited access to external knowledge sources, such as external social networks, collaboration with research institutions like universities, and partnerships with other organizations (including competitors) to share funding, risks, and rewards [13]. SMEs require greater levels of business association involvement to capture value [6,10,21]. In addition to lacking external knowledge and information, the successful commercialization of disruptive innovation requires cross-boundary cooperation from a diverse range of organizations [22], as SMEs have much more difficulty in completing technological breakthroughs independently [1]. Internally, barriers to disruptive innovation relate to the willingness and support of SME leadership to provide direction and incentives for employees to foster innovation and to actively overcome resistance to change [1,19,20]. A lack of adequate internal SME resources, the absence of a separate organizational structure suitable for disruptive innovation, and inadequate investment in research and development reduce not only new product and service design agility but also the creation of new internal knowledge [16,23].
As SMEs directly impact an economy’s gross domestic product (GDP) and are considered the backbone of an economy [24,25,26], greater levels of business association involvement are required to capture value [6,10,21]. To stay ahead of the competition and achieve an effective disruptive innovation strategy, SMEs should ensure they have a clear plan in place as well as access to the right resources [27,28]. Previous research has mainly focused on specific aspects of disruptive innovation in SMEs, such as market competition [29], resource constraints [30], and managerial discretion [31]. Hence, the purpose of this research paper is to define a holistic conceptual model for SME disruptive innovation by considering the following research question: “What are the components of a comprehensive disruptive innovation conceptual model for SMEs?” By applying such a model, SMEs can transform disruption into opportunity, enabling the development of new business models and access to previously inaccessible markets.
The remainder of this paper is structured as follows: First, the literature review is presented, followed by the methods section, which outlines the research approach. Next, an overview of the findings is provided, along with the recommendations and contributions. Finally, the paper concludes with the conclusion section.

2. Background

2.1. SME Growth and Development

Future-oriented SMEs develop their business environments through a multidisciplinary approach, incorporating politics, economics, demography, government, socio-culture, and technology [32]. Incorporating technology innovation is among the key growth sources [33], and the effective use of technology in SMEs impacts their competitiveness and access to international markets [34]. Furthermore, technology plays a key role in sustainability [35,36]. Early adopters of technology are more capable of handling uncertainty and risk compared to late adopters, who are generally less willing to take risks and regarded as less venturesome [37,38,39].
SMEs in Sri Lanka investigated for e-commerce adoption revealed several key aspects related to technology [40]: (i) information technology (IT) adoption is vital for the successful implementation of e-commerce activities; (ii) e-commerce adoption is influenced by management involvement whereby lack of IT knowledge among top management represents an obstacle to adopt e-commerce, while e-marketing contributes to cost minimization, self-marketing and launching products; (iii) supplier service plays an important role in IT adoption; and (iv) top executives believe that IT adoption reduces costs, saves time, and increases efficiency in dealing with suppliers [40]. Findings from a study conducted by Thomas [41] show that SMEs in the information communication technology (ICT) sector face challenges during the integration of different technologies, namely the need for higher levels of integration coordination, forcing them to invest a substantial amount of resources, as well as asserting fast adaptation due to frequent component changes and upgrades. These factors paved the way for SMEs to consider and optimize cloud solutions as service enablers, provided that SMEs can manage the rigorous small baseline specifications required for cloud utilities [42].

2.2. Disruptive Innovation

Scholars have identified several attributes to categorize disruptive innovation [13,43]. Yu and Hang [44] considered disruptive innovation from an external, internal, marketing, and technology perspective, while Foss and Saebi [45] constructed disruptive innovation recommendations based on the identification of antecedent conditions (e.g., change in competition, stakeholder demands, technologies, and change in strategy), contingencies (e.g., regulation, culture, leadership and adversity to change), and outcomes (e.g., innovativeness and cost reduction) [46,47]. Kilkki et al. [48] suggested that different industries serve different customer needs by offering different types of products where demand and supply then drive digital innovation potential. The rapid evolution of technology and its impact on technology-centric organizations are well recognized [23,49,50,51], as well as the role of social media in suitable strategic marketing approaches [52,53] and maintaining an entrepreneurial mindset [54,55]. In addition, Da Costa Nogami and Veloso [9] emphasized the application of technology as an effective value creation strategy as it satisfies customer needs based on the discovery and creation of new opportunities. According to Christensen, Raynor, and McDonald [56], disruptive innovators exhibit characteristics that enable them to consistently enhance quality while maintaining low costs for their products and/or services. They strategically define their markets across the entire range—from low-end to highly demanding markets [56,57].
Clayton Christensen [56] is renowned for his theory of disruptive innovation, and for the publication of a number of seminal articles presenting his framework, which describes the method whereby a simplified, accessible, and affordable innovation enters a market at the bottom and then persistently moves upmarket, eventually displacing established competitors [13,23,58]. His framework describes a set of three interdependent elements that work together to successfully enable disruptive innovation power, namely enabling technology, innovative business models, and a coherent value networks [58]. The purpose of enabling technology is to simplify and standardize solutions, ensuring that these simplified solutions are delivered to all customers in affordable and easily accessible ways. Business model innovation refers to the ability to target and reach new customers, including the least profitable ones. A coherent value network describes a network in which distributors, partners, suppliers, and customers all benefit when the innovation thrives ([58], p. xx). Thus, in this instance, the disruptive innovation has the potential to create a new affordable market and value network that may eventually disrupt an already existing market and displaces its market leader [23].
For this study, we will categorize our findings by applying Christensen’s framework.

3. Materials and Methods

In this research, a qualitative research methodology was adopted. A systematic literature review (SLR) method was used to explore the under-research area of disruptive innovation in SMEs [59,60,61]. Unlike traditional reviews, the SLR is open and allows for the integration of both practitioner and academic perspectives, enhancing the overall synthesis of existing knowledge [62,63]. A five steps process was followed to determine the relevance and quality of the research papers, namely: (i) identification of keywords, (ii) searching for research articles related to the keywords, (iii) assessing the quality of the research articles generated by the software, (iv) extracting relevant themes, and (v) synthesizing the identified themes [60,64,65].
In the first step of the SLR execution, keywords using Boolean operators included “disruptive innovation” AND “small and medium enterprise”. A search was conducted in Google Scholar, generating a list of 378 research papers. Google Scholar was chosen for its ability to make full-text articles searchable, provide citation information and metrics for the sources that it indexes, and facilitate broad searches for scholarly literature across many disciplines and sources. This aligned well with our goal to understand the disruptive innovation domain related to SMEs. The search results were downloaded using the Publish or Perish Software “https://harzing.com/resources/publish-or-perish (accessed on 24 September 2023)” as suggested by Jacsó [66]. This enabled the research team to proceed to the third step of the SLR process, i.e., quality assessment, by importing the search results into Rayyan software (https://www.rayyan.ai/, accessed on 25 September 2023). Rayyan facilitated the collaborative screening of the papers for relevance to the research question [67].
Figure 1 depicts the outcome of the screening step. Of the 378 research papers, 3 duplicates were removed and 239 were excluded due to text not being in English, lack of relevance to SMEs, and irrelevance to the research question, leaving 139 papers for detailed analysis. Two additional relevant papers identified during the screening process were added, resulting in a final corpus of 141 papers for detailed analysis.
Step 4 of the SLR process involved the extraction of relevant themes. We used Leximancer Software version 5.00.140 2021/08/25 to execute an automated content analysis, following the methodological procedure applied by Ghauri et al. [69], Brochado et al. [70] and Prasannath et al. [71] to generate the concept map shown in Figure 2.
Table 1 presents the concepts identified during the automated content analysis, the hits which refer to the number of text excerpts that matched each query concept and the associated theme. The analysis produced 13 themes based on 82 concepts.
In the next section, we describe each of the themes identified in detail. We also map the results to the three pillars of disruptive innovation according to the framework of Clayton Christensen [56] to offer structured insight into how each identified theme contributes to disruptive innovation in SMEs.

4. Results

4.1. Automated Content Analysis Results: Innovation

The theme of “Innovation” was identified as the most significant, consisting of the firms, models, marketing, open, and organizational. Innovation is considered a top priority and a crucial resource to increase productivity and competitiveness for SMEs [72]. It involves the introduction of new or significantly improved products or services, production methods, or service delivery processes. It also encompasses changes in marketing strategies and enhancements to the business model, workplace activities and external relationships of the organization [73].
Kuratho [74] states that innovation can be radical, incremental, or disruptive. Radical innovation refers to the launching of breakthrough technologies or services; it does not occur too often but has a long-lasting impact and transforms the organization by changing existing markets [7,11]. Incremental innovation points to the evolution of a product or the enhancement of a service; it happens on a regular incremental basis. Disruptive innovation is more extreme, and radically transforms the organization’s business practice, market, and value network [7,41].
Business model innovation (BMI) refers to the way in which an organization operates and how it creates value for its stakeholders. It involves innovative strategies that SMEs use to secure sustainable competitive advantages over their peers and to move towards top-class performance [75]. BMI is a composite innovation which could take on the form of business model (BM) adjustment, adoption, improvement, or redesign [72]. Successful SMEs innovate multiple elements of their BM, such as products and services, networks, and target markets. They have sought-after networks, respectable customer segments, and they use IT to enhance their offerings [72,76]. SMEs may innovate on their own, or employ consultants or third parties to assist them with the innovation of certain aspects of their BM. According to Taljaard [74], this practice is known as ‘open innovation’ as it provides for more flexible and fluid innovation processes driven by globalization. Open innovation involves leveraging both internal and external ideas, knowledge, and resources—often from external third-party companies—to create marketable products or services while saving on cost and time [77].
The extract of the relevant disruptive innovation key concepts for SMEs as it pertains to the three pillars of disruptive innovation is shown in Table 2.

4.2. Automated Content Analysis Results: Technology

Technology emerged as the second most significant theme, comprising concepts such as technology, development, economic, need, support, technological, resources, role, activities, innovative, impact, change, learning, large, production, policy, digital, and rural. SMEs’ technological resources and capacity play an important role in their ability to develop innovative approaches. This includes the acquisition of new technological equipment and external technological knowledge to support their innovation process; technology to enhance the production process (manufacturing techniques, automation equipment, and real-time sensors); and technology to prepare them for commercialization [76]. The latter is defined as the ability to apply a wide range of technologies to either develop new, sellable products or to improve current products and to deliver these to the market on time [78]. To accomplish technology commercialization from an external source, SMEs need proper contracts, licenses, or strategic partnerships.
However, SMEs are hampered by technological constraints, such as limited access to appropriate technologies, accompanied by a lack of skills and knowledge to operate these technologies [2]. Adegbite and Govender [16] state that African manufacturing SMEs will be able to extend and adapt their business operations rapidly if they succeed in embracing 4IR technologies, such as digitization (internet adoption and e-business), robotics and advanced technology. This could assist them to innovate and remain competitive [2]. Unfortunately, SMEs habitually have a shortage of financial and specialized support and struggle to secure these technologies [18,79]. Adegbite and Govender [16] propose that countries set up hubs for their SMEs to assist them in this regard. Similarly, Escalfoni [80] acknowledges entrepreneurial communities to be the drivers of innovation, which play an important role in the development of technology and in improving the collaboration between industries, entrepreneurs, universities, and support groups who consequently mutually benefit from these relationships.
The extract of the relevant disruptive innovation key concepts for SMEs as it pertains to the three pillars of disruptive innovation is shown in Table 3.

4.3. Automated Content Analysis Results: Business

The theme of business, encompassing concepts such as SMEs, market growth, finance, industry, and manufacturing, emerged as one of the most significant themes. SMEs not only play a crucial role in economies, but also significantly contribute to increased business activities and employment levels [81]. Zeng et al. [82] argue that the manufacturing industry is a key driver of social development and economic growth, particularly in developing countries. The niche firm theory provides insights into how SMEs develop specialized, company-specific knowledge related to processes, products, services, distribution channels, or customers, which gives them a competitive advantage in specific market areas. SMEs can be categorized as: (i) in the business start-up phase and still establishing a niche, (ii) struggling and losing their niche position, (iii) stable in an industry-based niche, or (iv) stable in a specialized knowledge-based niche [82].
Traditionally, SMEs have been entrepreneurial businesses that grow through internal financing [83]. However, the need for external financing or acquisition arises when growth outpaces the SME’s ability to self-finance or when the SME’s technology or market segment attracts significant interest from investors. Developing small-scale Industry 4.0 solutions can increase SME involvement in foreign markets through productive partnerships that leverage Fourth Industrial Revolution (4IR) technologies, leading to the internationalization of SME products. Increased exports and acceptance in international markets can boost sales, driving business growth. Additionally, access to finance enables SMEs to make productive investments, expand their businesses, and acquire the latest technologies, thereby ensuring competitiveness. Conversely, poorly functioning financial systems can severely undermine a country’s microeconomic environment, resulting in lower growth in income and employment [81].
Similarly, the adoption of e-commerce tools allows customers to easily communicate with others [40]. E-commerce provides cost-effective ways for SMEs to market themselves, launch new products, improve communications, gather information, and identify potential business partners [84]. Therefore, e-businesses offer opportunities to transform traditional business strategies into more attractive ones that foster growth in the global market. It also enables SME managers to integrate internal databases with suppliers’ or vendors’ systems, thereby facilitating customer shopping behaviors [85,86].
The extract of the relevant disruptive innovation key concepts for SMEs as it pertains to the three pillars of disruptive innovation is shown in Table 4.

4.4. Automated Content Analysis Results: Products

Products and services are fundamental to the very existence of firms, particularly for SMEs, which must adopt the right strategies to remain competitive, create value, and achieve high performance. Sołoducho-Pelc [87] defines competitive advantage as an organization’s ability to formulate strategies that place it in a favorable position relative to competitors. Competitive advantage arises when customers perceive that they receive greater value from a transaction than they would with a competitor. In today’s dynamic market, competitive advantage has garnered significant attention due to its critical contribution to a firm’s financial and market performance [88]. Firms adopting a differentiation strategy can offer unique products that provide a monopoly-like advantage over rivals [89].
By aligning process innovations with customer involvement and service customization, firms can create an enhanced competitive advantage, which, in turn, boosts overall performance [90,91]. Innovative companies are more agile, able to quickly identify and adapt to market trends, and thus transform these into competitive advantages and increased customer value [92]. At the strategic level, innovation extends beyond new product development, enhanced services, or the application of disruptive technologies. Managers should also focus on strategies, such as understanding the dynamics of specific customer target markets, optimizing product and service offerings, innovating the value chain—including partnerships and marketing—generating revenue, and sustaining market advantage [93].
In the context of e-commerce, Al-Qaisi [94] advocates that customer knowledge management is crucial for gaining a competitive advantage. It enhances various aspects of business, including the delivery of new products, customer service, and customer satisfaction, ultimately leading to increased profitability and a sustainable competitive edge that rivals cannot easily replicate. Innovation strategies also help companies clarify their competitive advantage by offering differentiated products that create unique value for consumers [95]. If a new product or process is distinct from existing offerings, it becomes challenging for competitors to replicate.
From a manufacturing perspective, employee involvement in new product development leads to better product quality and improved performance. In the hospitality industry, the ultimate goal of all innovations is consistent: to enhance service quality, improve operations, and achieve customer satisfaction, thereby creating competitive advantages that drive financial performance [96,97]. Hospitality companies operate in highly competitive environments, necessitating continuous product and process innovations to differentiate themselves and gain economic advantages [98].
Beyond productivity improvements, technologies of the 4IR, particularly the Industrial Internet of Things (IIoT), offer multiple value creation opportunities for SMEs. The IIoT is poised to drive growth by enhancing product quality, improving customer service, and optimizing firm operations through better planning, more efficient management, and enhanced support functions [16].
The extract of the relevant disruptive innovation key concepts for SMEs as it pertains to the three pillars of disruptive innovation is shown in Table 5.

4.5. Automated Content Analysis Results: Enterprises

Enterprises was the fifth most significant theme, consisting of the following concepts: important, sector, factors, countries, environment, time, government, global, developing, access, economy, medium, and local. Multiple countries have prioritized the development of SMEs as they stimulate economic growth, lead to broad development, and decrease unemployment [99]. Enterprise activity relies on the availability of capital, human resources, and natural resources [100]. The latter is, in most cases, limited, and companies need innovative ideas to preserve current sources for generations to come, especially those working in the field of renewable energy.
SMEs require access to funding to invest in more contemporary production processes, tools, and technologies, and to enable them to enter new export markets, which will allow them to contribute to their country’s economic development [101]. SMEs can utilize 4IR technologies to stimulate productivity, but in many cases need financial support to assist them with acquiring the infrastructure and skills needed to become technology-based firms. This is especially true for SMEs in developing countries [102].
The extract of the relevant disruptive innovation key concepts for SMEs they pertain to the three pillars of disruptive innovation is shown in Table 6.

4.6. Automated Content Analysis Results: Research

Research serves as the foundational theme for conducting investigations in SMEs. Different sectors of SMEs often employ varied research approaches and methodologies. According to Escalfoni [80], a smart start-up ecosystem requires a technology platform that integrates data to facilitate communication among its members and services. Escalfoni [80]: (i) methods for collecting, examining, and evaluating various technological and social aspects from ecosystem members; (ii) a social network analysis model to measure existing connections within these communities; and (iii) an online platform to operationalize the entire framework. The proposed process encompassed four distinct stages: first, collecting data on various aspects of the ecosystem interactions, technological tools, and social relationships; second, structuring the data for analysis, through organization and categorization; third, visualizing the structured data to provide clear and intuitive representations of network relationships and interactions; and fourth, analyzing the data using social network analysis metrics to derive insights and patterns [80]. By building inference mechanisms for identified network relationships, data analysis efforts can be streamlined. Additionally, adaptive ontologies could offer significant benefits for entrepreneurial communities in big data applications.
In the context of developing a framework of open innovation in SMEs in an emerging economy, Xiaobao et al. [103] affirmed future research should be based on a larger data sample. They recommend extracting medium-sized groups by setting the thresholds, presenting class variables, and conducting further confirmatory analysis. For instance, an empirical investigation of a single case involving a value chain design of a professional services firm in a real-life context was used as research method in order to address the research question [104].
Furthermore, qualitative research methods often involve the collection and analysis of published articles, reports, and seminal texts on innovation management [10]. Data analysis in these methods typically consists of three key stages: (i) managing, (ii) summarizing, and (iii) reconstructing qualitative data. Elmansori [105] emphasizes focusing on the meaning of words rather than quantification in the analysis process, while Chaochotechuang [106] adopted an abductive reasoning method for investigating innovation strategies in new product development within the Thai food and beverage industry.
The extract of the relevant disruptive innovation key concepts for SMEs as it pertains to the three pillars of disruptive innovation is shown in Table 7.

4.7. Automated Content Analysis Results: Social

Theme seven, social, encompasses concepts, such as social, information, entrepreneurial, case, entrepreneurship, order, work, and capital. While entrepreneurship is traditionally viewed as profit-driven, there is an increasing focus on “social entrepreneurship”, where the primary goal is to generate social benefits. This shift highlights the growing importance of creating positive societal impacts through entrepreneurial activities. Entrepreneurial support organizations (ESOs) play a crucial role in fostering new businesses. These institutions include business incubators and accelerators, co-working spaces, technology and science parks, and government foundations, all of which are dedicated to promoting and supporting entrepreneurship. Their mission is to provide resources, mentorship, and infrastructure to help entrepreneurs succeed and grow their ventures [19].
This theme also highlights smart solutions aimed at improving a community’s living standards—economically, socially, and environmentally—through the development of human capital, economic clusters, and incentives for entrepreneurship [19]. Human capital, in the form of education, knowledge, experience, and work skills, provided by entrepreneurs, are key determinants of business success [17].
On the other hand, social capital relies on existing networks and established cultural norms. Trust between stakeholders—entrepreneurs, investors, and other parties—is critical for encouraging resource-sharing [19]. Face-to-face interactions help broaden perspectives and improve business attitudes. Both government and non-state initiatives are essential for supporting entrepreneurship through funding and knowledge-sharing. For example, establishing government-funded investment companies to support private venture capital funds is one effective method [107].
A smart start-up ecosystem emerges when entrepreneurial communities make conscious decisions to address their social and business needs. This involves the aggressive use of new information technologies to create a communication infrastructure that integrates services. Escalfoni and Oliveira [19] applied social network analysis techniques to better disseminate information about start-up ecosystems, aiming to promote the entrepreneurial communities. By studying the network properties, they revealed patterns of interaction between individuals and organizations, improving coordination, community emergence, connectivity, and the relevance of participants.
Face-to-face and digital platforms, national awards, annual summits, and dedicated entrepreneurship portals can facilitate entrepreneurial culture promotion [99]. Furthermore, capacity building for start-ups and SMEs includes soft-skills training, management mentoring, and access to capital. There is a need to actively enhance entrepreneurship by implementing curricular reforms, raising awareness among the youth, and offering effective support mechanisms, such as access to mentoring, and skill-building resources [19].
The ultimate goal of entrepreneurship education policies is to foster an entrepreneurial culture that helps potential entrepreneurs identify and pursue opportunities [108]. University education, for example, should include hands-on enterprise experiences and courses that are designed to encourage an entrepreneurial mindset among students [107]. Incubation centers and entrepreneurship courses at art universities can significantly contribute to increasing entrepreneurial activities, driving economic growth, and improving living standards [109]. However, policies supporting entrepreneurship are only effective if they realign existing incentives toward desired social outcomes [108].
The extract of the relevant disruptive innovation key concepts for SMEs as it pertains to the three pillars of disruptive innovation is shown in Table 8.

4.8. Automated Content Analysis Results: Knowledge

The eighth theme, knowledge, includes concepts such as systems and level-based approaches. Central to the Systems of Innovation (SI) approach are networks and informal spaces for technological interaction. This approach emphasizes moving beyond traditional research and development and formal technological practices to incorporate informal, innovative techniques like learning-by-doing, learning-by-using, and learning-by-interacting [110]. In an innovation system, various actors are involved in continuous learning and knowledge exchange. The day-to-day experiences of individuals with new knowledge or innovations play a pivotal role in this system. To drive effective innovation, all actors must cultivate a culture of open communication and knowledge-sharing [111].
Capability building is fostered through both community-based learning and formal knowledge systems [110]. In rural, low-tech clusters, knowledge transfer between experienced and new employees—through informal interactions—plays a critical role in driving innovation. Escalfoni [80] elaborates on this network-based approach by emphasizing social aspects, architecture dimensions, and network indicators. These tools help map and assess relationships between individuals, groups, organizations, and other entities, aiding managerial diagnostics.
A broad, multidimensional, multi-stakeholder perspective—rooted in emerging ideas and trends—should form the basis of a systems approach to proactive situational analysis [21]. Such an analysis is essential for developing enterprise strategy, incorporating new global stakeholders, and avoiding a stagnant or reactionary approach. Searching for knowledge across different domains requires thinking ‘outside the box’ [107]. The analysis of object behaviors and customer forecasting can benefit from the integration of big data across different applications and IT systems to inform decision-making. Furthermore, existing market realities, combined with the expanding consequences of globalization, compel entrepreneurs to rethink organizational management systems and their future expansion prospects [101]. The integration of knowledge from support professionals and the level of success in achieving innovation strategies depend heavily on the specific organizational design and formal procedures adopted [10].
The extract of the relevant disruptive innovation key concepts for SMEs as it pertains to the three pillars of disruptive innovation is shown in Table 9.

4.9. Automated Content Analysis Results: Process

Process was the ninth most significant theme, including concepts such as management, significance, relationship, and adoption. Process innovation refers to the development of new or significantly improved delivery or production techniques, using new software, machinery, or methods, which can offer a competitive edge in the market. According to Ahmed [112], process innovation significantly impacts the performance of SMEs and is vital for their survival in highly competitive environments. Many SMEs have adopted e-commerce (the integration of business procedures, items, services, and processes in an online environment) to innovate their business processes [113], enabling them to overcome geographical limitations and compete in both national and international markets [40]. Abbad et al. [113] found a positive relationship between e-business adoption and SME performance.
Mukundan and Thomas [114] identify employee involvement, organization learning capability, creative capacity, and external networking as having the most substantial influence on SME process innovation. The effective management of these processes ensures that disruptive innovations are developed and adopted by SME customers efficiently [40]. Process innovation is significant when it addresses real market needs, solving a problem in a unique way. Building strong relationships with customers is crucial for driving the adoption of the innovations [115]. This could involve customer engagement through social media, personalized support, or soliciting feedback to improve the innovation continuously. SMEs also leverage social media to advertise and market their products and services. This enables them to reduce costs while building their customer loyalty.
The extract of the relevant disruptive innovation key concepts for SMEs as it pertains to the three pillars of disruptive innovation is shown in Table 10.

4.10. Automated Content Analysis Results: Company

The company theme includes two concepts, namely, company and online. This theme focuses on companies that are shifting manual processes online to reduce both financial and time costs [7], while improving their brand presence [116,117]. An in-depth understanding of various online aspects is required, such as e-procurement [117], patent creation support, online service, and maintenance [118], and platforms that encourage companies to innovate and accommodate online players [19]. Accommodating online engagement is critical, as most millennials prefer digital interaction [7]. Toolkits that guide businesses on how to engage online, with clear and staged instructions, are invaluable resources [118].
The idea of value creation plays a central role in customer engagement, which is supported by resource and process efficiency, as well as product innovation [119]. SMEs must define their online value proposition (OVP), explicitly clarifying their online offerings and identity [120]. From a data perspective, this includes creating an online database of people and companies in the start-up sectors’ friendship networks [4], and e-services that enable online company registration, web-first presence, and customer experience, which are designed for the efficiency that small businesses require [116].
Another key aspect of the company theme is funding and lending activity. Access to new data sources and insights, such as ways to segment lenders in the ecosystem via a product, must be enabled [116]. This segmentation supports digital customer targeting techniques [19] and improves offerings and communication with SMEs [121]. Additionally, online services that provide SMEs with a consolidated view of their finances, such as invoicing, payment monitoring, cash flow management, paying suppliers, and payroll processing, can significantly improve financial management [116]. Websites that list accelerators and manage online application processes also play an important role in fostering growth [121].
The extract of the relevant disruptive innovation key concepts for SMEs as it pertains to the three pillars of disruptive innovation is shown in Table 11.

4.11. Automated Content Analysis Results: Results

The result theme encompasses concepts related to business performance outcomes and theoretical models that support business model evolution and success. SMEs may transition from self-funding (internal equity) to external equity, typically sourced from private equity investors or bank financing [122]. The relevance of internal finance, external equity, and debt financing for SMEs, may be analyzed through the lens of the “bridged pecking order theory”, creating a strategic net to commercialize a radical innovation [41]. Strategic net, in this context, refers to strategy centers that implement powerful tools for strategy development and execution [121,122].
Moore and Manring [21] discuss experimental game theory results, which suggest that linking individuals through networks fosters interdependence. This interdependence makes cooperation much more efficient than conflict or competition [123]. This comparison between large transnational enterprises and SMEs in a cyber-physical world requires evaluating the impact of agile, decentralized networks of SMEs that pursue mutually beneficial transactions versus the few large multinational firms aiming for market dominance [21].
Resource-based theory emphasizes the importance of firm-specific capabilities or competencies, and resources in shaping strategy formulation and implementation [124]. These resources are considered fundamental determinants of firm performance. Competitive advantages arise when a firm effectively utilizes these resources in alignment with external market conditions to achieve above-average profits [125]. This theory is further supported by research outlining the impact of social capital on firm success [121].
The extract of the relevant disruptive innovation key concepts for SMEs as it pertains to the three pillars of disruptive innovation is shown in Table 12.

4.12. Automated Content Analysis Results: People

The people theme addresses the challenges SMEs face in recruiting suitable candidates for senior positions, where a lack of experienced individuals available for hire poses significant difficulties [99]. On the other hand, filling junior positions is generally more straightforward [74,99]. Sarasvathy [126] suggests a “frugal innovation” approach, where businesses start with available resources and build capacity by creating simple products or services often driven by necessity and limited means [127]. This type of innovation, born out of necessity, typically involves people closest to the problem, who then drive the solutions.
Innovation with limited resources requires individuals to share knowledge and ensure that information is accessible, enabling better outcomes [81,127]. It is crucial for aspiring entrepreneurs in fields like app development or fish farming for food security to have easy access to both public and private resources, including financial, non-financial, and technical services [126]. A comprehensive set of competencies is required, including interpersonal abilities, abstract conceptualization, and reflective observation, which help individuals make abstract connections that may not be immediately obvious [74].
The extract of the relevant disruptive innovation key concepts for SMEs as it pertains to the three pillars of disruptive innovation is shown in Table 13.

4.13. Automated Content Analysis Results: Entrepreneurs

The entrepreneurs theme focusses on the perceived profile, skills, and competencies that are required for entrepreneurial success. Leadership, alertness, and gradual accumulation of small successes, complement each other [127] and are essential for guiding emerging business opportunities [16]. Entrepreneurs require specific competencies, especially in a globally-connected, cyber-physical world, to enhance intellectual capital. This often involves engaging other entrepreneurs to exchange knowledge and foster innovation.
Disruptive technologies, such as 3D printers, increasingly enable entrepreneurs to start businesses with lower barriers to entry. Innovative entrepreneurs demonstrate the ability to evaluate multiple ideas, helping to identify true opportunities for SMEs in the context of the Fourth Industrial Revolution (4IR) [74]. The extent to which entrepreneurs’ abilities align with their personal characteristics suggests that absorptive capacity—the ability to understand and apply new intellectual capital—is key to entrepreneurial success [74,128].
However, entrepreneurs often face high costs for training and advisory services, even if they manage to secure seed or venture funding. Therefore, efforts should target young, highly educated, and ICT-savvy entrepreneurs to help them start and thrive in the digital economy [129].
The extract of the relevant disruptive innovation key concepts for SMEs as it pertains to the three pillars of disruptive innovation is shown in Table 14.

5. Discussion

To operationalize the findings of this study, we adopted the framework by Reksoatmodjo et al. [130], which highlights four strategic alignment perspectives between IT and business strategies: technology potential (evaluating the implementation of the selected business strategy by aligning it with the appropriate IT strategy), strategy execution (indicating that the business strategy solely drives all domains), competitive potential (leveraging IT to deliver strategic capabilities), and service level (creating a world-class IT service organization). The themes identified in the content analysis were mapped to these four alignment perspectives, as shown in Table 15, Table 16 and Table 17.
This mapping allowed us to categorize the findings from the three pillars of disruptive innovation (see Table 2, Table 3, Table 4, Table 5, Table 6, Table 7, Table 8, Table 9, Table 10, Table 11, Table 12, Table 13 and Table 14) into more granular strategic domains, providing a clearer understanding of how SMEs can implement disruptive innovation across various aspects of their business.
The initiatives outlined in Table 15 emphasize the role of enabling technology across the four strategic alignment domains. The competitive potential theme highlights transforming business models, products, and services to stay competitive. This includes enhancing marketing strategies through digital tools and data analytics, personalizing customer interactions, and leveraging technology incubators and entrepreneurship portals to drive innovation. This theme also emphasizes the importance of adopting disruptive technologies, such as IIoT and robotics, and expanding marker-reach through e-commerce tools and automation. Knowledge transfer systems and conducting in-depth data analysis using market simulations further refine business strategies. Strategy execution focuses on transforming production and service delivery through innovation and automation. By implementing technologies, such as e-procurement, real-time data sensors, and robotics, SMEs can improve operations, reduce costs, and enhance efficiency. Additionally, using digital tools to collect and act on customer feedback helps align operations with strategic objectives and improve overall service delivery. The technology potential domain emphasizes the importance of procuring and adopting the right technologies to drive growth and innovation. SMEs can leverage external technological knowledge and partnerships to scale their operations, enhance digitization, and adopt 4IR technologies, such as IIoT and robotics. This facilitates the automation of manufacturing processes, entry into new markets, and significant improvements in e-commerce capabilities, while cloud computing and SaaS platforms enhance scalability and flexibility. The service level theme focuses on enhancing both customer experience and external relationships through technology-driven service delivery. Additionally, adopting online platforms for financial management, e.g., invoicing, payments, and cash flow management) and using adaptive technologies, such as ontologies to improve relationships, ensure a dynamic, responsive service environment that can evolve with market demands.
The initiatives outlined in Table 16 emphasize the role of an innovative business model across the four strategic alignment domains. The competitive potential theme highlights evolving and redesigning the business model to drive product innovation, process efficiency, and commercialization. By innovating target markets, stimulating economic growth, and entering new international markets, businesses can contribute to significant development while preserving natural resources. This theme also highlights the importance of customer knowledge management, adopting differentiation strategies, and fostering an entrepreneurial mindset. Through informal, innovative techniques and enhancing intellectual capital, businesses can link innovation with knowledge, build robust infrastructures, and seize emerging opportunities. The strategy execution theme focuses on driving innovation across products and processes while extending and adapting business operations. By involving employees, fostering open communication, and sharing knowledge, organizations can grow their learning and creative capacities. This approach not only reduces financial and time costs but also builds human resource capacities through talent acquisition and frugal innovation processes, enabling businesses to innovate effectively even with limited resources. The technology potential theme emphasizes leveraging external technological knowledge to drive innovation in production and commercialization. By enhancing technological resources and capacities, organizations can build a dynamic smart start-up ecosystem that integrates local knowledge systems. Applying a Systems of Innovation (SI) approach facilitates a holistic view of technology development, while offering online value propositions ensures broader market reach and engagement. This integrated strategy supports sustainable growth and competitive advantage in an increasingly digital landscape. The service level theme focuses on advancing operational efficiency through innovative workplace arrangements and acquiring the necessary skills to operate new technologies. This involves conducting empirical investigations, observing data patterns, and applying confirmatory analysis to refine and innovate strategies. By summarizing and reconstructing data, organizations can position themselves effectively against competitors and leverage venture capital to support entrepreneurs. Proactive situational analysis and a shift from self-funding to external equity further enhance their capacity to adapt and thrive in a competitive landscape.
The initiatives outlined in Table 17 emphasize the role of the coherent value network across the four strategic alignment domains. The competitive potential theme focuses on building global networks to foster flexible and fluid innovation. Securing strategic partnerships and licenses, along with investing in modern production processes and technologies, enhances competitive advantage. Strengthening customer relationships drives the adoption of innovation and creates value across various business dimensions. By leveraging patent creation support, segmenting lending markets, and accessing SME accelerators, organizations can amplify their competitive edge and enhance overall customer value. To effectively execute a strategy, organizations should focus on optimizing their respectable customer segments and commercializing externally sourced technology contracts. This involves innovating the value chain through social network analysis and building a robust communication infrastructure. Social network analysis can help enhance the understanding of stakeholder interactions, while experimental game theory using market-mimicking simulations refines strategic decision-making. Developing a strategic net, which includes a suite of powerful tools for strategy development and execution, provides comprehensive support for these initiatives and fosters a dynamic approach to achieving strategic goals. Harnessing technology potential emphasizes the commercialization of technology sourced externally and the acquisition of necessary infrastructures and skills to transition into technology-based operations. Building a robust network architecture is crucial for effectively integrating and managing these technologies, while sourcing reliable information providers ensures access to valuable insights and data. This comprehensive approach enables firms to leverage technological advancements, enhance their capabilities, and drive innovation within their industry. The service level theme focuses on expanding valuable networks to improve service offerings. External resources, such as consultants and third-party companies, can drive open innovation, while hubs and entrepreneurial communities foster collaboration. Strengthening network relationships aids in procuring financing, growing investor interest, and developing productive partnerships. Promoting entrepreneurial communities and utilizing university incubation centers further support innovation efforts. Mapping relationships among entities and fostering friendship networks also help grow talent networks, bolstering support for SME activities and enhancing overall service levels and operational effectiveness.

6. Conclusions

The objective of this study was to investigate and define the components of a comprehensive disruptive innovation conceptual model for SMEs. Using an SLR combined with automated content analysis, 13 themes and 82 concepts were identified from the selected corpus, based on specific keywords. These themes were then categorized and mapped to the three pillars of disruptive innovation, enabling technology, innovative business models, and coherent value networks, thereby providing a clear framework for understanding how disruptive innovation can be operationalized in SMEs.
To further refine the conceptual model, we mapped the findings to four strategic alignment domains: technology potential, strategy execution, competitive potential, and service level. This approach allowed for a more granule categorization of the themes, linking them directly to business and IT strategy alignment, which is critical for SMEs navigating disruption. The model, presented as a checklist in Table 15, Table 16 and Table 17, offers SMEs actionable guidance for turning disruption into opportunity by leveraging technology, redesigning business models, and building robust value networks.
Future research should focus on collecting empirical data related to the implementation and impact of this proposed disruptive innovation conceptual model in SMEs. In addition, exploring the applicability of the model across different regional contexts and within specific SME sectors in developing countries could provide valuable insights for further refinement and adoption.

Author Contributions

Conceptualization, H.S., L.W., K.P., A.B., H.C., N.R. and D.M.-N.; methodology, H.S.; software, H.S.; validation, H.S. and L.W.; formal analysis, H.S., L.W., K.P., A.B., H.C., N.R. and D.M.-N.; investigation, H.S.; resources, H.S.; data curation, H.S., L.W., K.P., A.B., H.C., N.R. and D.M.-N.; writing—original draft preparation, H.S., L.W., K.P., A.B., H.C., N.R. and D.M.-N.; writing—review and editing, H.S. and L.W.; visualization, H.S.; supervision, H.S.; project administration, H.S. All authors have read and agreed to the published version of the manuscript.

Funding

This research received no external funding.

Institutional Review Board Statement

Not applicable.

Informed Consent Statement

Not applicable.

Data Availability Statement

The original contributions presented in this study are included in the article. Further inquiries can be directed to the corresponding author.

Conflicts of Interest

The authors declare no conflicts of interest.

References

  1. Chen, J.; Zhu, Z.; Zhang, Y. A study of factors influencing disruptive innovation in Chinese SMEs. Asian J. Technol. Innov. 2017, 25, 140–157. [Google Scholar] [CrossRef]
  2. Rens, V.; Iwu, C.; Tengeh, R.K.; Esambe, E. SMEs, Economic Growth, and Business Incubation Conundrum in South Africa. A Literature Appraisal. J. Manag. Res. 2021, 8, 214–251. [Google Scholar] [CrossRef]
  3. Ngah, R.; Azman, N.A.; Khalique, M. The Impact of Innovation, Organizational, Technological Capital on Innovation Performance of SMEs: The Mediating Effect of Innovative Intelligence. Int. J. Bus. Soc. 2022, 23, 427–443. [Google Scholar] [CrossRef]
  4. Utami, A.F.; Ekaputra, I.A. A paradigm shift in financial landscape: Encouraging collaboration and innovation among Indonesian FinTech lending players. J. Sci. Technol. Policy Manag. 2021, 12, 309–330. [Google Scholar] [CrossRef]
  5. Fawad Sharif, S.M.; Yang, N.; Rehman, A.u.; Alghamdi, O. Sustaining innovation during downsizing strategy through knowledge coupling, business process digitization, and market capitalizing agility. Aust. J. Manag. 2024, 49, 428–447. [Google Scholar] [CrossRef]
  6. Chakabva, O.; Tengeh, R.K.; Dubihlela, J. A holistic assessment of the risks encountered by fast moving consumer goods SMEs in South Africa. Entrep. Sustain. Issues 2020, 7, 3321–3338. [Google Scholar] [CrossRef]
  7. Gomber, P.; Kauffman, R.J.; Parker, C.; Weber, B.W. On the Fintech Revolution: Interpreting the Forces of Innovation, Disruption, and Transformation in Financial Services. J. Manag. Inf. Syst. 2018, 35, 220–265. [Google Scholar] [CrossRef]
  8. Alrawashdeh, N.; Alsmadi, A.A.; Al-Gasaymeh, A. FinTech: A Bibliometric Analysis for the Period of 2014–2021. Qual. Access Ro Success 2022, 23, 176–188. [Google Scholar] [CrossRef]
  9. da Costa Nogami, V.K.; Veloso, A.R. Disruptive innovation in low-income contexts: Challenges and state-of-the-art national research in marketing. RAI Rev. De Adm. E Inovação 2017, 14, 162–167. [Google Scholar] [CrossRef]
  10. Allahar, H. Innovation Management and Value Chain Design: Case of a Small Professional Services Firm. Int. J. Innov. 2019, 7, 192–209. [Google Scholar] [CrossRef]
  11. Abdullah, A.B. Innovation Practices and Performance of Manufacturing SMEs in Kedah; School of Business Management, Universiti Utara Malaysia, 2017; Available online: https://etd.uum.edu.my/6997/1/s820076_01.pdf (accessed on 20 November 2023).
  12. Waldman-Brown, A. Redeployment or robocalypse? Workers and automation in Ohio manufacturing SMEs. Camb. J. Reg. Econ. Soc. 2020, 13, 99–115. [Google Scholar] [CrossRef]
  13. Si, S.; Chen, H. A literature review of disruptive innovation: What it is, how it works and where it goes. J. Eng. Technol. Manag. 2020, 56, 101568. [Google Scholar] [CrossRef]
  14. Bollweg, L.; Lackes, R.; Siepermann, M.; Weber, P. Drivers and barriers of the digitalization of local owner operated retail outlets. J. Small Bus. Entrep. 2020, 32, 173–201. [Google Scholar] [CrossRef]
  15. Sundström, A.; Hyder, A.S.; Chowdhury, E.H. Market-oriented business model for SMEs’ disruptive innovations internationalization. Mark. Intell. Plan. 2021, 39, 670–686. [Google Scholar] [CrossRef]
  16. Adegbite, W.M.; Govender, C.M. Emerging roles of small and medium enterprises in the fourth industrial revolution in Africa. Mediterr. J. Soc. Sci. 2021, 12, 151–166. [Google Scholar] [CrossRef]
  17. Sombolayuk, W.; Yusuf, R.M. Innovation strategy for creating successful small and medium businesses. In Proceedings of the 3rd International Conference on Accounting, Management and Economics 2018 (ICAME 2018), Makassar, Indonesia, 4–5 November 2018; Atlantis Press: Paris, France, 2019. [Google Scholar] [CrossRef]
  18. Serumaga-Zake, J.M.; van der Poll, J.A. Addressing the Impact of Fourth Industrial Revolution on South African Manufacturing Small and Medium Enterprises (SMEs). Sustainability 2021, 13, 11703. [Google Scholar] [CrossRef]
  19. Escalfoni, R.; Oliveira, J. Coral: A Framework based on Social Network Analysis to Support the Startup Ecosystem Management. In Proceedings of the Extended Proceedings of the XVII Brazilian Symposium on Information Systems, Porto Alegre, Brazil, 7–10 June 2021. [Google Scholar] [CrossRef]
  20. Mashhour, Q.M.Q. The Role of Frugal Innovation and Social Entrepreneurship in Supporting Socioeconomic Life in Emerging Markets. J. Res. Bus. Soc. Sci. 2022, 5. Available online: https://www.jrbssonline.com/wp-content/uploads/2022/06/Volume5Issue5Paper1.pdf (accessed on 20 November 2023).
  21. Moore, S.B.; Manring, S.L. Strategy development in small and medium sized enterprises for sustainability and increased value creation. J. Clean. Prod. 2009, 17, 276–282. [Google Scholar] [CrossRef]
  22. Haessler, P.; Giones, F.; Brem, A. The who and how of commercializing emerging technologies: A technology-focused review. Technovation 2022, 121, 102637. [Google Scholar] [CrossRef]
  23. Christensen, C.M. The Innovator’s Dilemma: When New Technologies Cause Great Firms to Fail; Harvard Business Review Press: Boston, MA, USA, 2015. [Google Scholar]
  24. Safar, L.; Sopko, J.; Bednar, S.; Poklemba, R. Concept of SME Business Model for Industry 4.0 Environment. TEM J. 2018, 7, 626. [Google Scholar] [CrossRef]
  25. Andalib, T.W.; Azizan, N.A.; Al Turi, J.; Danilla, N.; Kaman, Z.K. A frugal innovation model assimilating block-chain technology in the manufacturing SMEs. J. Posit. Sch. Psychol. 2022, 6, 1348–1362. [Google Scholar]
  26. Adeosun, O.T.; Shittu, A.I.; Ugbede, D. Disruptive financial innovations: The case of Nigerian micro-entrepreneurs. J. Bus. Socio-Econ. Dev. 2021, 3, 17–35. [Google Scholar] [CrossRef]
  27. Jones, O.; Macpherson, A. Inter-Organizational Learning and Strategic Renewal in SMEs: Extending the 4I Framework. Long Range Plan. 2006, 39, 155–175. [Google Scholar] [CrossRef]
  28. Ahokangas, P.; Haapanen, L.; Golgeci, I.; Arslan, A.; Khan, Z.; Kontkanen, M. Knowledge sharing dynamics in international subcontracting arrangements: The case of Finnish high-tech SMEs. J. Int. Manag. 2022, 28, 100888. [Google Scholar] [CrossRef]
  29. Pandit, D.; Joshi, M.P.; Sahay, A.; Gupta, R.K. Disruptive innovation and dynamic capabilities in emerging economies: Evidence from the Indian automotive sector. Technol. Forecast. Soc. Chang. 2018, 129, 323–329. [Google Scholar] [CrossRef]
  30. Dzimba, E.; van der Poll, J.A. Disruptive innovation capability in resource-constrained environments: The role of strategic posture and human capital. Sustain. Futures 2024, 8, 100326. [Google Scholar] [CrossRef]
  31. Bassam Madi-Odeh, R.; Yousef Obeidat, B. The moderating role of managerial discretion: The impact of dynamic managerial capabilities on established firms’ response strategies to disruptive innovation. Int. J. Innov. Sci. 2024. [Google Scholar] [CrossRef]
  32. Panjaitan, J.M.; Darwin, M.; Wiva, W.; Setyowati, S.M. Measuring the Indonesian SMEs’ Capabilities for Sociodynamic and Disruptive Innovation: The Case for Gaining Resilience and Sustainability. J. Innov. Entrep. 2021. [Google Scholar] [CrossRef]
  33. Prasanna, R.; Jayasundara, J.; Naradda Gamage, S.K.; Ekanayake, E.; Rajapakshe, P.; Abeyrathne, G. Sustainability of SMEs in the competition: A systemic review on technological challenges and SME performance. J. Open Innov. Technol. Mark. Complex. 2019, 5, 100. [Google Scholar] [CrossRef]
  34. Chege, S.M.; Wang, D. Information technology innovation and its impact on job creation by SMEs in developing countries: An analysis of the literature review. Technol. Anal. Strateg. Manag. 2020, 32, 256–271. [Google Scholar] [CrossRef]
  35. Semuel, H.; Mangoting, Y.; Hatane, S.E. The Interpretation of Quality in the Sustainability of Indonesian Traditional Weaving. Sustainability 2022, 14, 11344. [Google Scholar] [CrossRef]
  36. Yun, J.J. Concept, Structures, and Decision Factors of Open Innovation. In Business Model Design Compass: Open Innovation Funnel to Schumpeterian New Combination Business Model Developing Circle; Yun, J.J., Ed.; Springer: Singapore, 2017; pp. 63–85. [Google Scholar] [CrossRef]
  37. Rogers, E.M. Diffusion of Innovations, 5th ed.; Free Press: New York, NY, USA, 2003. [Google Scholar]
  38. Dearing, J.W.; Cox, J.G. Diffusion of innovations theory, principles, and practice. Health Aff. 2018, 37, 183–190. [Google Scholar] [CrossRef] [PubMed]
  39. Zhang, W.; Zhang, Q. Exploring Antecedent Difference between Early and Late Adopters of Disruptive Innovation in E-business Microcredit Context: Evidence from China. Int. J. Innov. Technol. Manag. 2017, 14, 1750032. [Google Scholar] [CrossRef]
  40. Gunawardana, K. E-Commerce in Small and Medium Enterprises in Sri Lanka. Int. J. Sociotechnol. Knowl. Dev. 2020, 10, 54–68. [Google Scholar] [CrossRef]
  41. Thomas, D. The Impact of Networks on the Innovation Value Chain of Technology Small and Medium Enterprises; Swinburne University of Technology, 2016; Available online: https://figshare.swinburne.edu.au/articles/thesis/The_impact_of_networks_on_the_innovation_value_chain_of_technology_small_and_medium_enterprises/26278531/1/files/47641618.pdf (accessed on 20 November 2023).
  42. Soon, J.N.P.; Mahmood, A.K.; Yin, C.P.; Wan, W.S.; Yuen, P.K.; Heng, L.E. Barebone cloud IaaS: Revitalisation disruptive technology. Int. J. Bus. Inf. Syst. (IJBIS) 2015, 18, 107–126. [Google Scholar] [CrossRef]
  43. Weilbach, L.; Boolaky, A.; Chittoo, H.; Mauree-Narrainen, D.; Padachi, K.; Ramphul, N.; Smuts, H. Disruptive innovation in Small and Medium Enterprises: A key factors checklist. EPiC Ser. Comput. 2023, 93, 252–268. [Google Scholar] [CrossRef]
  44. Yu, D.; Hang, C.C. A Reflective Review of Disruptive Innovation Theory. Int. J. Manag. Rev. 2010, 12, 435–452. [Google Scholar] [CrossRef]
  45. Foss, N.J.; Saebi, T. Fifteen Years of Research on Business Model Innovation:How Far Have We Come, and Where Should We Go? J. Manag. 2017, 43, 200–227. [Google Scholar] [CrossRef]
  46. Gorjian Khanzad, Z.; Gooyabadi, A.A. Development of Strategic Resilience Framework for Small Businesses Post-COVID-19. Businesses 2021, 1, 127–141. [Google Scholar] [CrossRef]
  47. Hoque, M.S.; Islam, N. Leadership Behaviors of Women Entrepreneurs in SME Sector of Bangladesh. Businesses 2022, 2, 228–245. [Google Scholar] [CrossRef]
  48. Kilkki, K.; Mäntylä, M.; Karhu, K.; Hämmäinen, H.; Ailisto, H. A disruption framework. Technol. Forecast. Soc. Chang. 2018, 129, 275–284. [Google Scholar] [CrossRef]
  49. Agri, E.M.; Kennedy, N.D.; Bonmwa, G.O.; Acha, O.F. Technology Innovation and Sustainable Entrepreneurship Development in Nigeria: Stakeholders’ Impact Assessment in Central Nigeria. J. Econ. Manag. Trade 2018, 21, 1–16. [Google Scholar] [CrossRef]
  50. Flor, M.L.; Cooper, S.Y.; Oltra, M.J. External knowledge search, absorptive capacity and radical innovation in high-technology firms. Eur. Manag. J. 2018, 36, 183–194. [Google Scholar] [CrossRef]
  51. Schuelke-Leech, B.-A. A model for understanding the orders of magnitude of disruptive technologies. Technol. Forecast. Soc. Chang. 2018, 129, 261–274. [Google Scholar] [CrossRef]
  52. Opute, A. Small and Medium Enterprises Marketing: Innovation and Sustainable Economic Growth Perspective. In Entrepreneurship Marketing: Principles and practice of SME Marketing; Nwankwo, S., Gbadamosi, A., Eds.; Routledge Publishers: New York, NY, USA, 2020. [Google Scholar]
  53. Muninger, M.; Hammedi, W.; Mahr, D. The value of social media for innovation: A capability perspective. J. Bus. Res. 2019, 95, 116–127. [Google Scholar] [CrossRef]
  54. Ibidunni, A.S.; Mozie, D.; Ayeni, A.W.A.A. Entrepreneurial characteristics amongst university students: Insights for understanding entrepreneurial intentions amongst youths in a developing economy. Educ. + Train. 2021, 63, 71–84. [Google Scholar] [CrossRef]
  55. Huang, X.; Chen, Y. The Impact of Entrepreneurship on Economic Growth within a City. Businesses 2021, 1, 142–150. [Google Scholar] [CrossRef]
  56. Christensen, C.M.; Raynor, M.E.; McDonald, R. What is disruptive innovation? Harv. Bus. Rev. 2015, 5, 2017. [Google Scholar]
  57. Ibidunni, A.S.; Ufua, D.E.; Opute, A.P. Linking disruptive innovation to sustainable entrepreneurship within the context of small and medium firms: A focus on Nigeria. Afr. J. Sci. Technol. Innov. Dev. 2021, 1–17. Available online: https://hdl.handle.net/10520/ejc-aa_ajstid_v14_i6_a1591 (accessed on 20 November 2023). [CrossRef]
  58. Christensen, C.M.; Grossman, J.H.; Hwang, J. The Innovator’s Prescription: A Disruptive Solution for Health Care; McGraww Hill: New York, NY, USA, 2010. [Google Scholar]
  59. Hazaea, S.A.; Zhu, J.; Al-Matari, E.M.; Senan, N.A.M.; Khatib, S.F.; Ullah, S. Mapping of internal audit research in China: A systematic literature review and future research agenda. Cogent Bus. Manag. 2021, 8, 1938351. [Google Scholar] [CrossRef]
  60. Khatib, S.F.; Abdullah, D.F.; Elamer, A.A.; Abueid, R. Nudging toward diversity in the boardroom: A systematic literature review of board diversity of financial institutions. Bus. Strategy Environ. 2021, 30, 985–1002. [Google Scholar] [CrossRef]
  61. Zamil, I.A.; Ramakrishnan, S.; Jamal, N.M.; Hatif, M.A.; Khatib, S.F. Drivers of corporate voluntary disclosure: A systematic review. J. Financ. Rep. Account. 2021, 21, 232–267. [Google Scholar] [CrossRef]
  62. Pedrini, M.; Ferri, L.M. Stakeholder management: A systematic literature review. Corp. Gov. Int. J. Bus. Soc. 2018, 19, 44–59. [Google Scholar] [CrossRef]
  63. Endenich, C.; Trapp, R. Ethical implications of management accounting and control: A systematic review of the contributions from the Journal of Business Ethics. J. Bus. Ethics 2020, 163, 309–328. [Google Scholar] [CrossRef]
  64. E-Vahdati, S.; Zulkifli, N.; Zakaria, Z. Corporate governance integration with sustainability: A systematic literature review. Corp. Gov. Int. J. Bus. Soc. 2018, 19, 255–269. [Google Scholar] [CrossRef]
  65. Walker, K. A systematic review of the corporate reputation literature: Definition, measurement, and theory. Corp. Reput. Rev. 2010, 12, 357–387. [Google Scholar] [CrossRef]
  66. Jacsó, P. Calculating the h-index and other bibliometric and scientometric indicators from Google Scholar with the Publish or Perish software. Online Inf. Rev. 2009, 33, 1189–1200. [Google Scholar] [CrossRef]
  67. Ouzzani, M.; Hammady, H.; Fedorowicz, Z.; Elmagarmid, A. Rayyan—A web and mobile app for systematic reviews. Syst. Rev. 2016, 5, 210. [Google Scholar] [CrossRef]
  68. Moher, D.; Liberati, A.; Tetzlaff, J.; Altman, D.G. Preferred Reporting Items for Systematic Reviews and Meta-Analyses: The PRISMA Statement. PLoS Med. 2009, 6, e1000097. [Google Scholar] [CrossRef]
  69. Ghauri, S.; Mazzarol, T.; Soutar, G.N. Why do SMEs join Co-operatives? A comparison of SME owner-managers and Co-operative executives views. J. Co-Oper. Organ. Manag. 2021, 9, 100128. [Google Scholar] [CrossRef]
  70. Brochado, A.; Lobo, C.; Pacheco, L.; Maldonado, I. Drivers of and barriers to the SME internationalisation process in a small open economy. ISCTE 2020, 40, 2932–2942. [Google Scholar]
  71. Prasannath, V.; Adhikari, R.P.; Gronum, S.; Miles, M.P. Impact of government support policies on entrepreneurial orientation and SME performance. Int. Entrep. Manag. J. 2024, 20, 1533–1595. [Google Scholar] [CrossRef]
  72. Ngoufack, K.H.T.; Nuyebga, E.T. Analyzing and Comparing Business Model Innovation Among the Categories of SME’s in Aalborg, Denmark; Aalborg University: Aalborg, Denmark, 2018; Available online: https://projekter.aau.dk/projekter/files/281248860/masters_paper_.pdf (accessed on 20 November 2023).
  73. OECD; Eurostat. Oslo Manual Guidelines for Collecting and Interpreting Innovation Data. 2005. Available online: http://scholar.google.com/scholar?hl=en&btnG=Search&q=intitle:Oslo+Manual (accessed on 23 November 2022).
  74. Taljaard, A. The Interrelationships Between Entrepreneural Competencies, Absorptive Capacity and Innovation Capacity; Faculty of Economic and Management Sciences, University of Pretoria: Pretoria, South Africa, 2020; Available online: https://www.proquest.com/dissertations-theses/interrelationships-between-entrepreneurial/docview/2901808981/se-2?accountid=14717 (accessed on 20 November 2023).
  75. Anwar, M. Business Model Innovation and SMEs Performance—Does Competitive Advantage Mediate? Int. J. Innov. Manag. 2018, 22, 1850057. [Google Scholar] [CrossRef]
  76. Marima, N.E. Innovation as a Strategy for Small to Medium Enterprises’ (SMEs) Survival and Growth in Mashonaland West Province Zimbabwe; School of Management, IT and Governance, College of Law and Management Studies, University of Kwa-Zulu Natal, 2018; Available online: https://core.ac.uk/download/pdf/322918072.pdf (accessed on 20 November 2023).
  77. Adebayo, F.O. SME’s Growth and Open Innovation: Tackling SME’s Family Business Growth Challenges with Open Innovation; School of Business and Economics, Jyväskylä University, 2014; Available online: http://urn.fi/URN:NBN:fi:jyu-201411163267 (accessed on 20 November 2023).
  78. Li, C. The influence of entrepreneurial orientation on technology commercialization: The moderating roles of technological turbulence and integration. Afr. J. Bus. Manag. 2012, 6, 370. [Google Scholar] [CrossRef]
  79. Özel, F.M.; Davies, H.C.; Ernst, C.; Nieuwenhuis, P. How to strategically position European SMEs as part of an electric vehicle technology value chain. Int. J. Electr. Hybrid Veh. (IJEHV) 2014, 6, 227–254. [Google Scholar] [CrossRef]
  80. Escalfoni, R. Coral: A Social Network Analysis Approach to Support Startup Ecosystems; Instituto, Tércio Pacitti de Aplicações e Pesquisas Computacionais, Universidade Federal do Rio de Janeiro: Rio de Janeiro, Brazil, 2020; Available online: https://www.researchgate.net/profile/Rafael-Escalfoni/publication/354892734_Coral_a_Social_Network_Analysis_Approach_to_Support_Startup_Ecosystems/links/61530fe4d2ebba7be753aa83/Coral-a-Social-Network-Analysis-Approach-to-Support-Startup-Ecosystems.pdf (accessed on 20 November 2023).
  81. Rahman, H.; Ramos, I. Open Innovation in SMEs of Developing and Transitional Economies. In Small and Medium Enterprises: Concepts, Methodologies, Tools, and Applications; I.R. Management Association, Ed.; IGI Global: Hershey, PA, USA, 2013; pp. 944–962. [Google Scholar]
  82. Zeng, S.X.; Xie, X.M.; Tam, C.M. Relationship between cooperation networks and innovation performance of SMEs. Technovation 2010, 30, 181–194. [Google Scholar] [CrossRef]
  83. Chalençon, L.; Marion, A. Size and financing of external growth strategies among small and medium enterprises. Eur. Manag. Rev. 2024. [Google Scholar] [CrossRef]
  84. Cloete, E.; Courtney, S.; Fintz, J. Small Businesses’ Acceptance and Adoption of e-Commerce in the Western-Cape Province of South-Africa. Electron. J. Inf. Syst. Dev. Ctries 2002, 10, 1–13. [Google Scholar] [CrossRef]
  85. Trang, S.; Zander, S.; Kolbe, L. E-business adoption at the firm level: Comparing the predictive power of competing is adoption models. In ICIS Proceedings; 2014; Available online: https://aisel.aisnet.org/icis2014/proceedings/EBusiness/34 (accessed on 20 November 2023).
  86. Ulas, D. Digital Transformation Process and SMEs. Procedia Comput. Sci. 2019, 158, 662–671. [Google Scholar] [CrossRef]
  87. Sołoducho-Pelc, L. Competitive Advantage: The Courage in Formulating Objectives and Expansiveness of a Strategy. Procedia—Soc. Behav. Sci. 2014, 150, 271–280. [Google Scholar] [CrossRef]
  88. Batista, P.C.d.S.; Lisboa, J.V.d.O.; Augusto, M.G.; Almeida, F.E.B.d. Effectiveness of business strategies in Brazilian textile industry. Rev. De Adm. 2016, 51, 225–239. [Google Scholar] [CrossRef]
  89. Sharma, B. Porter’s (1980) Generic Strategies, Contextual Factors and Performance: An Empirical Examination of Their Relationship. Metamorphosis 2002, 1, 52–68. [Google Scholar] [CrossRef]
  90. Tweneboah-Koduah, E.Y.; Anning-Dorson, T.; Nyamekye, M.B. Impact of customization and innovation on hospitality firms’ performance. J. Hosp. Mark. Manag. 2020, 29, 106–120. [Google Scholar] [CrossRef]
  91. Prahalad, C.K.; Ramaswamy, V. Co-creation experiences: The next practice in value creation. J. Interact. Mark. 2004, 18, 5–14. [Google Scholar] [CrossRef]
  92. Anning-Dorson, T.; Nyamekye, M.B. Be flexible: Turning innovativeness into competitive advantage in hospitality firms. Int. J. Contemp. Hosp. Manag. 2020, 32, 605–624. [Google Scholar] [CrossRef]
  93. Loewe, P.; Dominiquini, J. Overcoming the barriers to effective innovation. Strategy Leadersh. 2006, 34, 24–31. [Google Scholar] [CrossRef]
  94. Al-Qaisi, K.M. A literature review on the competition in the banking sector. Int. J. Acad. Res. Account. Financ. Manag. Sci. 2018, 8, 174–184. [Google Scholar] [CrossRef]
  95. Jajja, M.S.S.; Kannan, V.R.; Brah, S.A.; Hassan, S.Z. Linkages between firm innovation strategy, suppliers, product innovation, and business performance: Insights from resource dependence theory. Int. J. Oper. Prod. Manag. 2017, 37, 1054–1075. [Google Scholar] [CrossRef]
  96. Chen, P.-K.; Lujan-Blanco, I.; Fortuny-Santos, J.; Ruiz-de-Arbulo-López, P. Lean manufacturing and environmental sustainability: The effects of employee involvement, stakeholder pressure and ISO 14001. Sustainability 2020, 12, 7258. [Google Scholar] [CrossRef]
  97. Alzyoud, S.Y. Psychological Safety and Employee Innovation in Four- and Five-Star Hotels in the UK; Manchester Metropolitan University, 2019; Available online: https://e-space.mmu.ac.uk/id/eprint/623723 (accessed on 20 November 2023).
  98. Martin-Rios, C. Hospitality Innovation Industry Report, Lausanne: École Hotelière de Lausanne. 2018. Available online: https://industry.ehl.edu/hubfs/HI-Infographic-and-Documents/EHL-Hospitality_Innovation_Industry_Report_2018.pdf?hsCtaTracking=51a8fe87-c08a-4158-a7c0-520f1cac0a43%7C40d913e2-864e-4bbf-b573-6aa8f5ab3718 (accessed on 20 November 2023).
  99. Thorsteinsdóttir, H.; Bell, J.M.; Bandyopadhyay, N. Cultivating Small and Medium-Sized Firms: Entrepreneurship Development, Gender, and Technology in Bangladesh, Cambodia, Ethiopia and Senegal; International Development Research Centre: Ottawa, ON, Canada, 2021; Available online: http://hdl.handle.net/10625/60110 (accessed on 20 November 2023).
  100. Hernita, H.; Surya, B.; Perwira, I.; Abubakar, H.; Idris, M. Economic business sustainability and strengthening human resource capacity based on increasing the productivity of small and medium enterprises (SMES) in Makassar city, Indonesia. Sustainability 2021, 13, 3177. [Google Scholar] [CrossRef]
  101. Kuś, A.; Grego-Planer, D. A Model of Innovation Activity in Small Enterprises in the Context of Selected Financial Factors: The Example of the Renewable Energy Sector. Energies 2021, 14, 2926. [Google Scholar] [CrossRef]
  102. Mwatsika, C. Reflecting on perceived failure of entrepreneurship development initiatives to help ignite economic development in Malawi. J. Innov. Entrep. 2021, 10, 40. [Google Scholar] [CrossRef]
  103. Xiaobao, P.; Wei, S.; Yuzhen, D. Framework of open innovation in SMEs in an emerging economy: Firm characteristics, network openness, and network information. Int. J. Technol. Manag. 2013, 62, 223–250. [Google Scholar] [CrossRef]
  104. Saunders, M.N.K.; Lewis, P.; Thornhill, A. Research Methods for Business Students, 8th ed.; Pearson: Upper Saddle River, NJ, USA, 2019. [Google Scholar]
  105. Elmansori, E. Fostering Innovation and Entrepreneurship in Small and Medium Enterprises (SMEs) Through Business Incubators in the Arab World; Nottingham Trent University (United Kingdom), 2014; Available online: https://www.proquest.com/dissertations-theses/fostering-innovation-entrepreneurship-small/docview/2399409774/se-2?accountid=14717 (accessed on 20 November 2023).
  106. Chaochotechuang, P. Investigating Innovation Strategies of New Product Development: Multiple Case Study of Thai Food and Beverage Manufacturing SMEs. 2016. Available online: http://dspace.bu.ac.th/jspui/handle/123456789/1988 (accessed on 20 November 2023).
  107. Fairooz, H.; Wickramasinghe, C. Innovation and development of digital finance: A review on digital transformation in banking & financial sector of Sri Lanka. Asian J. Econ. Financ. Manag. 2019, 69–78. Available online: https://www.journaleconomics.org/index.php/AJEFM/article/view/9 (accessed on 20 November 2023).
  108. Auerswald, P.; Elmira, B.; Shroff, S. Creating a Place for the Future: Strategies for Entrepreneurship-Led Development in Pakistan. Innov. Technol. Gov. Glob. 2012, 7, 107–134. [Google Scholar] [CrossRef]
  109. Asenge, E.L.; Diaka, H.S.; Soom, A.T. Entrepreneurial mindset and performance of small and medium scale enterprises in Makurdi Metropolis, Benue State-Nigeria. Int. J. Innov. 2018, 6, 124–146. [Google Scholar] [CrossRef]
  110. Rice, C.F.; Yayboke, E.K. Innovation-Led Economic Growth: Transforming Tomorrow’s Developing Economies Through Technology and Innovation; Rowman & Littlefield: Lanham, MD, USA, 2017. [Google Scholar]
  111. Weerasinghe, R.; Jayawardane, A.; Ramlogan, R. Power of being small and entrepreneurial and essentiality of innovation for excellence in performance and global competitiveness: A case of SMEs in a developing country context. Int. J. Process Manag. Benchmarking 2014, 4, 262–276. [Google Scholar] [CrossRef]
  112. Ahmed, M. The Effect of Innovation on Firm Performance: The Case of Kombolicha Textile Share Company from Employees’ Perspectives. Master’s Thesis, College of Business and Economics, Department of Marketing Management, Debre Berhan University, Debre Birhan, Ethiopia, 2021. Available online: https://etd.dbu.edu.et/handle/123456789/762?show=full (accessed on 20 November 2023).
  113. Abbad, M.; Magboul, I.H.M.; AlQeisi, K. Determinants and outcomes of e-business adoption among manufacturing SMEs: Insights from a developing country. J. Sci. Technol. Policy Manag. 2022, 13, 456–484. [Google Scholar] [CrossRef]
  114. Mukundan, R.; Thomas, S. Product and Process Innovation: Antecedents and Performance Outcomes in Small IT Firms in India; Cochin University of Science & Technology, 2015; Available online: http://dyuthi.cusat.ac.in/purl/5060 (accessed on 15 January 2023).
  115. Williams-Morgan, E.A. Social Media Adoption in Business: Examining the Uses and Experiences of Small and Medium Enterprises in Jamaica; Capella University, 2017; Available online: https://www.proquest.com/dissertations-theses/social-media-adoption-business-examining-uses/docview/1984981761/se-2?accountid=14717 (accessed on 15 January 2023).
  116. Mills, K. The State of Small Business Lending: Innovation and Technology and the Implications for Regulation. SSRN Electron. J. 2016. [Google Scholar] [CrossRef]
  117. Patel, P. A Study of E-Procurement Practices in Selected Organizations in Gujarat. 2017. Available online: http://hdl.handle.net/10603/208121 (accessed on 15 January 2023).
  118. Lee, C.-C.; Yang, W.-H.; Pham, M.-T. A Long-Term Strategy Based on Innovative Business Model for a Vietnamese Enterprise Software Company. Chaoyang Bus. Manag. Rev. 2017, 16, 41–73. [Google Scholar]
  119. Irvine, C.; Moore, J. Environmental management toolkit for SMEs in the NPA—A model of engagement. In Proceedings of the 2018 2nd International Symposium on Small-Scale Intelligent Manufacturing Systems (SIMS), Cavan, Ireland, 16–18 April 2018. [Google Scholar] [CrossRef]
  120. Gupta, V.P. Digitalisation & Innovations in Business; Empyreal Publishing House: Ghaziabad, India, 2020. [Google Scholar]
  121. Stone, T. An Examination of Startup Accelerators Using Social Network Theory; University of Huddersfield, 2018; Available online: https://eprints.hud.ac.uk/id/eprint/34731/ (accessed on 15 January 2023).
  122. Błach, J.; Wieczorek-Kosmala, M.; Trzęsiok, J. Innovation in SMEs and Financing Mix. J. Risk Financ. Manag. 2020, 13, 206. [Google Scholar] [CrossRef]
  123. Kaua, C.K. Influence of Innovation on the Financial Performance of Small and Medium Women-Owned Enterprises in Nairobi City County. In Agriculture and Technology; Jomo Kenyatta University of Agriculture and Technology: Juja, Kenya, 2021; Available online: http://ir.jkuat.ac.ke/handle/123456789/5500 (accessed on 15 January 2023).
  124. Teece, D.J.; Pisano, G.; Shuen, A. Dynamic capabilities and strategic management. Strateg. Manag. J. 1997, 18, 509–533. [Google Scholar] [CrossRef]
  125. Verreynne, M.-L.; Williams, A.M.; Ritchie, B.W.; Gronum, S.; Betts, K.S. Innovation diversity and uncertainty in small and medium sized tourism firms. Tour. Manag. 2019, 72, 257–269. [Google Scholar] [CrossRef]
  126. Sarasvathy, S.D. Causation and effectuation: Toward a theoretical shift from economic inevitability to entrepreneurial contingency. Acad. Manag. Rev. 2001, 26, 243–263. [Google Scholar] [CrossRef]
  127. Haga, K. Innovation in Rural Japan: Entrepreneurs and Residents Meeting the Challenges of Aging and Shrinking Agricultural Communities. J. Innov. Econ. Manag. 2018, 25, 87–117. [Google Scholar] [CrossRef]
  128. Gaffurini, E.; Urban, B. Organisational Learning Capability and Social Innovation: Study of Hybrid Social Enterprises in South Africa; University of the Witwatersrand, Faculty of Commerce, Law and Management …, 2015; Available online: https://core.ac.uk/download/pdf/188775406.pdf (accessed on 15 January 2023).
  129. Masabo, T.T. The Readiness of Small Businesses to Embrace the Fourth Industrial Revolution in Mamelodi Township; Faculy of Business Management, University of South Africa: Pretoria, South Africa, 2021; Available online: https://hdl.handle.net/10500/28947 (accessed on 15 January 2023).
  130. Reksoatmodjo, W.; Hartono, J.; Djunaedi, A.; Utomo, H. Exploratory study on alignment between IT and business strategies. Gadjah Mada Int. J. Bus. 2012, 14, 139–162. [Google Scholar] [CrossRef]
Businesses 04 00041 g001
Figure 1. Preferred reporting items for systematic reviews and meta-analyses (PRISMA) [68].
Figure 1. Preferred reporting items for systematic reviews and meta-analyses (PRISMA) [68].
Businesses 04 00041 g001
Businesses 04 00041 g002
Figure 2. Automated content analysis concept map (source: authors’ own work).
Figure 2. Automated content analysis concept map (source: authors’ own work).
Businesses 04 00041 g002
Table 1. Themes and concepts identified (source: Leximancer analysis).
Table 1. Themes and concepts identified (source: Leximancer analysis).
ThemeHitsConcepts
Innovation43,428Innovation, firms, model, marketing, open, and organizational
Technology42,703Technology, development, economic, need, support, technological, resources, role, activities, innovative, impact, change, learning, large, production, policy, digital, and rural
Business38,930Business, SMEs, market, growth, financial, industry, and manufacturing
Products33,345Products, performance, services, strategy, customers, value, and competitive
Enterprises29,024Enterprises, important, sector, factors, countries, environment, time, government, global, developing, access, economy, medium, and local
Research24,710Research, networks, data, analysis, and project
Social23,493Social, information, entrepreneurial, case, entrepreneurship, order, work, and capital
Knowledge20,176Knowledge, system, different, level, based, and approach
Process17,758Process, management, significant, relationship, and adoption
Company9514Company and online
Results4844Results and theory
People3701People and available
Entrepreneurs2181Entrepreneurs
Table 2. Emerging disruptive innovation key concepts for SMEs: innovation theme.
Table 2. Emerging disruptive innovation key concepts for SMEs: innovation theme.
Three Pillars of
Disruptive Innovation		Theme: Innovation
Disruptive Innovation for SMEs
Enabling Technology
  • Transform business products and services.
  • Transform business production and service provision processes.
  • Transform marketing approaches.
  • Transform business models.
  • Transform workplace activities.
  • Transform external relationships.
Innovative Business Model
  • Adjust, improve and/or redesign business models.
  • Innovate products (new or enhance existing).
  • Innovate processes (enhance business practice method).
  • Innovate target markets (change marketing approach or process).
  • Innovate operations (change workplace arrangements).
Coherent Value Network
  • Extend and improve sought-after networks.
  • Optimize respectable customer segments.
  • Leverage external resources, such as consultants or other third-party companies to execute innovation (open innovation).
  • Build global networks for more flexible and fluid innovation.
Table 3. Emerging disruptive innovation key concepts for SMEs: technology theme.
Table 3. Emerging disruptive innovation key concepts for SMEs: technology theme.
Three Pillars of
Disruptive Innovation		Theme: Technology
Disruptive Innovation for SMEs
Enabling Technology
  • Procure technological equipment.
  • Access appropriate technologies.
  • Source financial and specialized support to secure technologies.
  • Implement digitization.
  • Foster internet adoption.
  • Adopt e-businesses.
  • Implement robotics.
Innovative Business Model
  • Acquire skills and knowledge to operate technologies.
  • Source external technological knowledge to support innovation processes for production and commercialization.
  • Enhance technological resources and capacities.
  • Extend and adapt business operations
Coherent Value Network
  • Commercialize technology contracts from external sources
  • Secure strategic partnerships licenses
  • Accomplish technology commercialization from external sources
  • Utilize hubs and entrepreneurial communities
Table 4. Emerging disruptive innovation key concepts for SMEs: business theme.
Table 4. Emerging disruptive innovation key concepts for SMEs: business theme.
Three Pillars of
Disruptive Innovation		Theme: Business
Disruptive Innovation for SMEs
Enabling Technology
  • Implement 4IR solutions.
  • Adopt e-commerce and e-business tools.
  • Enable supplier and vendor system integration.
Innovative Business Model
  • Internationalize products.
  • Increase involvement in foreign markets.
Coherent Value Network
  • Procure external financing.
  • Grow investor interest.
  • Grow productive partnerships
Table 5. Emerging disruptive innovation key concepts for SMEs: products theme.
Table 5. Emerging disruptive innovation key concepts for SMEs: products theme.
Three Pillars of
Disruptive Innovation 		Theme: Products
Disruptive Innovation for SMEs
Enabling Technology
  • Apply Industrial Internet of Things (IIoT).
  • Implement disruptive technologies.
Innovative Business Model
  • Position related to other companies.
  • Adaptation of differentiation strategy offers unique products.
  • Customer knowledge management.
Coherent Value Network
  • Create value along multiple dimensions of business.
  • Create augmented competitive advantage.
  • Innovate the value chain.
  • Enhance customer value.
Table 6. Emerging disruptive innovation key concepts for SMEs: enterprises theme.
Table 6. Emerging disruptive innovation key concepts for SMEs: enterprises theme.
Three Pillars of
Disruptive Innovation		Theme: Enterprises
Disruptive Innovation for SMEs
Enabling Technology
  • Enter new markets enabled by 4IR technologies
Innovative Business Model
  • Stimulate economic growth.
  • Contribute to far-reaching development.
  • Increase the employment rate.
  • Enter new international export markets.
  • Focus on preservation of natural resources.
Coherent Value Network
  • Invest in more contemporary production processes, tools, and technology.
  • Acquire infrastructure and skills needed to become technology-based firms.
Table 7. Emerging disruptive innovation key concepts for SMEs: research theme.
Table 7. Emerging disruptive innovation key concepts for SMEs: research theme.
Three Pillars of
Disruptive Innovation		Theme: Research
Disruptive Innovation for SMEs
Enabling Technology
  • Build inference mechanisms.
  • Apply adaptive ontologies.
Innovative Business Model
  • Conduct empirical investigations
  • Observe patterns through scrutinizing data.
  • Summarize and reconstruct data.
  • Apply confirmatory analysis.
  • Apply reasoning method for innovative strategies.
Coherent Value Network
  • Utilize network relationships.
  • Apply social network analysis metrics.
Table 8. Emerging disruptive innovation key concepts for SMEs: social theme.
Table 8. Emerging disruptive innovation key concepts for SMEs: social theme.
Three Pillars of
Disruptive Innovation		Theme: Social
Disruptive Innovation for SMEs
Enabling Technology
  • Implement smart solutions to develop the community’s living standards.
  • Host entrepreneurship portals.
Innovative Business Model
  • Initiate smart start-up ecosystem.
  • Implement entrepreneurial directed approach.
  • Obtain venture capital funds for entrepreneurs.
Coherent Value Network
  • Promote entrepreneurial community.
  • Utilize incubation centers at universities.
  • Create a communication infrastructure.
Table 9. Emerging disruptive innovation key concepts for SMEs: knowledge theme.
Table 9. Emerging disruptive innovation key concepts for SMEs: knowledge theme.
Three Pillars of
Disruptive Innovation		Theme: Knowledge
Disruptive Innovation for SMEs
Enabling Technology
  • Utilize technological incubators.
  • Apply knowledge transfer system.
  • Exploit informal technological-information exchanges.
  • Conduct deep data analysis.
Innovative Business Model
  • Integrate local knowledge systems.
  • Apply informal innovative techniques such as learning-by-doing, learning-by-using and learning-by-interacting.
  • Create business infrastructure linking innovation or knowledge.
  • Facilitate open communication.
  • Share knowledge.
  • Apply systems of innovations (SI) approach.
  • Execute proactive situational analysis.
  • Exchange knowledge through informal interaction.
Coherent Value Network
  • Create a network architecture.
  • Map relationships among people, groups, organizations, and other entities.
Table 10. Emerging disruptive innovation key concepts for SMEs: process theme.
Table 10. Emerging disruptive innovation key concepts for SMEs: process theme.
Three Pillars of
Disruptive Innovation		Theme: Process
Disruptive Innovation for SMEs
Enabling Technology
  • Improve e-commerce.
  • Innovate business processes.
  • Enhance advertising and marketing of products and services.
  • Personalize support to customers.
  • Solicit customer feedback.
Innovative Business Model
  • Involve employees.
  • Grow organization learning capabilities.
  • Grow creative capacity.
Coherent Value Network
  • Improved external networking.
  • Build strong relationships with customers to drive innovation adoption.
Table 11. Emerging disruptive innovation key concepts for SMEs: company theme.
Table 11. Emerging disruptive innovation key concepts for SMEs: company theme.
Three Pillars of Disruptive Innovation Theme: Company
Disruptive Innovation for SMEs
Enabling Technology
  • Implement automation, e.g., e-procurement.
  • Adopt on-line platforms and services.
  • Implement financial solutions e.g., invoice customer. manage cash flow, process payments, pay suppliers, etc.
Innovative Business Model
  • Reduce financial and time costs.
  • Drive product innovation.
  • Prioritize process efficacy.
  • Offer on-line value proposition.
Coherent Value Network
  • Utilize patent creation support.
  • Foster friendship networks, i.e., active supporters of SME activities.
  • Segment lending market.
  • Access SME accelerators.
Table 12. Emerging disruptive innovation key concepts for SMEs: results theme.
Table 12. Emerging disruptive innovation key concepts for SMEs: results theme.
Three Pillars of Disruptive InnovationTheme: Results
Disruptive Innovation for SMEs
Enabling Technology
  • Utilize market simulations
Innovative Business Model
  • Evolve business models.
  • Drive commercialization.
  • Move from self-funding to external equity.
Coherent Value Network
  • Develop a strategic net, i.e., powerful tools for strategy development and execution.
  • Apply experimental game theory i.e., games developed to mimic market behavior.
Table 13. Emerging disruptive innovation key concepts for SMEs: people theme.
Table 13. Emerging disruptive innovation key concepts for SMEs: people theme.
Three Pillars of Disruptive InnovationTheme: People
Disruptive Innovation for SMEs
Enabling Technology
  • Apply financial services.
  • Grow non-financial services.
Innovative Business Model
  • Build human resource capacities.
  • Hire talent.
  • Apply frugal innovation process, i.e., innovating with limited resources.
Coherent Value Network
  • Source information providers.
Table 14. Emerging disruptive innovation key concepts for SMEs: entrepreneurs theme.
Table 14. Emerging disruptive innovation key concepts for SMEs: entrepreneurs theme.
Three Pillars of Disruptive InnovationTheme: Entrepreneurs
Disruptive Innovation for SMEs
Enabling Technology
  • Grow ICT savvy.
Innovative Business Model
  • Build entrepreneurial profiles, competencies, and skills.
  • Foster leadership and alertness.
  • Steer emerging business possibilities.
  • Enhance intellectual capital.
Coherent Value Network
  • Grow talent network.
Table 15. Disruptive innovation in SMEs: pillar of enabling technology across strategic alignment domains.
Table 15. Disruptive innovation in SMEs: pillar of enabling technology across strategic alignment domains.
Alignment
Domain		Key Initiatives
Competitive Potential
  • Transform business products and services through the adoption of disruptive technologies (e.g., IoT and robotics).
  • Enhance marketing approaches with digital tools and data analytics.
  • Utilize 4IR technologies to open new markets and drive customer engagement.
  • Leverage e-commerce tools and automation for expanding international market reach.
  • Host entrepreneurship portals to connect with customers and partners.
  • Use technological incubators to foster product and service innovation.
Strategy Execution
  • Automate business processes (e.g., e-procurement, online service platforms) to streamline operations.
  • Implement real-time data sensors and digital technologies in production and service delivery processes.
  • Collect customer feedback using digital tools and integrate it into business improvement efforts.
  • Apply robotics and other digital innovations to optimize business efficiency and reduce operational costs.
Technology Potential
  • Procure appropriate technological equipment to enhance production and innovation.
  • Access external technological knowledge, especially for scaling operations.
  • Implement smart solutions and digitization (e.g., e-business, robotics, 4IR solutions) to improve efficiency and adaptability.
  • Adopt cloud computing and SaaS platforms to drive business flexibility and scalability.
  • Integrate Industrial IoT (IIoT) to automate manufacturing and business processes.
Service Level
  • Use digital platforms to enhance customer interactions and improve service delivery (e.g., online customer portals, AI-driven customer service).
  • Apply IT solutions to integrate supplier and vendor systems.
  • Use online platforms to streamline financial operations (e.g., invoicing, payments, cash flow management).
  • Adopt AI and data analytics to optimize customer support and personalize services.
  • Leverage adaptive ontologies to improve external relationships and service offerings.
Table 16. Disruptive innovation in SMEs: pillar of innovative business model across strategic alignment domains.
Table 16. Disruptive innovation in SMEs: pillar of innovative business model across strategic alignment domains.
Alignment Domain Key Initiatives
Competitive Potential
  • Adjust, improve, and redesign the business model to stimulate economic growth and access new markets (including international export markets).
  • Focus on preserving natural resources and sustainability efforts.
  • Adopt a differentiation strategy to offer unique products that meet specific customer needs.
  • Implement entrepreneurial-directed approaches and informal innovative techniques (learning-by-doing and learning-by-using).
  • Manage customer knowledge for continuous market adaptation.
Strategy Execution
  • Innovate product offerings (either by developing new products or enhancing existing ones) and business processes (through operational changes).
  • Adapt business operations to align with evolving markets.
  • Involve employees in the innovation process to drive growth in creative and organizational learning capabilities.
  • Utilize knowledge-sharing practices (informal interactions) to drive business improvements and reduce operational costs.
Technology Potential
  • Source external technological knowledge to support innovation in production and commercialization efforts.
  • Enhance technological resources and capacities to foster innovation (e.g., smart start-up ecosystems).
  • Integrate local knowledge systems and apply a systems of innovations (SI) approach for continuous technological adaptation.
  • Build infrastructure that link innovation with knowledge systems.
Service Level
  • Foster operational efficiency by restructuring workplace environments and acquiring skills to manage new technologies.
  • Conduct empirical investigations and data analysis to refine innovative strategies.
  • Develop proactive situational analysis and confirmatory analysis processes.
  • Position the business in relation to competitors and secure external equity to enhance business sustainability.
Table 17. Disruptive innovation in SMEs: pillar of coherent value network across strategic alignment domains.
Table 17. Disruptive innovation in SMEs: pillar of coherent value network across strategic alignment domains.
Alignment
Domain		Key Initiatives
Competitive Potential
  • Build global networks for more flexible and fluid innovation.
  • Secure strategic partnerships and licenses to support innovation.
  • Invest in contemporary production processes and technology.
  • Strengthen customer relationships to drive innovation adoption and create value across multiple business dimensions.
  • Leverage patent creation support and access SME accelerators to segment the lending marker and enhance competitive advantage.
Strategy Execution
  • Optimize respectable customer segments and commercialize technology contracts from external sources.
  • Innovate the value chain through social network analysis and create communication infrastructure to support innovation.
  • Develop a strategic net, i.e., powerful tools for strategy development and execution.
  • Apply experimental game theory to mimic market behavior and refine business strategies.
Technology Potential
  • Accomplish technology commercialization from external sources and acquire infrastructure and skills to transition into technology-based SME.
  • Build a robust network architecture to manage these technologies.
  • Leverage information providers to enhance technological capabilities.
Service Level
  • Extend and improve networks by leveraging external resources such as consultants and third-party companies to support open innovation.
  • Utilize hubs and entrepreneurial communities to foster collaboration.
  • Promote entrepreneurial communities and utilize university incubation centers to support innovation.
  • Foster friendship networks to grow support for SME activities and enhance talent networks.
Disclaimer/Publisher’s Note: The statements, opinions and data contained in all publications are solely those of the individual author(s) and contributor(s) and not of MDPI and/or the editor(s). MDPI and/or the editor(s) disclaim responsibility for any injury to people or property resulting from any ideas, methods, instructions or products referred to in the content.

Share and Cite

MDPI and ACS Style

Smuts, H.; Weilbach, L.; Padachi, K.; Boolaky, A.; Mauree-Narrainen, D.; Ramphul, N.; Chittoo, H. Harnessing Disruptive Innovation: A Conceptual Model for SME Growth and Adaptation. Businesses 2024, 4, 738-764. https://doi.org/10.3390/businesses4040041

AMA Style

Smuts H, Weilbach L, Padachi K, Boolaky A, Mauree-Narrainen D, Ramphul N, Chittoo H. Harnessing Disruptive Innovation: A Conceptual Model for SME Growth and Adaptation. Businesses. 2024; 4(4):738-764. https://doi.org/10.3390/businesses4040041

Chicago/Turabian Style

Smuts, Hanlie, Lizette Weilbach, Kesseven Padachi, Aleesha Boolaky, Diroubinee Mauree-Narrainen, Needesh Ramphul, and Hemant Chittoo. 2024. "Harnessing Disruptive Innovation: A Conceptual Model for SME Growth and Adaptation" Businesses 4, no. 4: 738-764. https://doi.org/10.3390/businesses4040041

APA Style

Smuts, H., Weilbach, L., Padachi, K., Boolaky, A., Mauree-Narrainen, D., Ramphul, N., & Chittoo, H. (2024). Harnessing Disruptive Innovation: A Conceptual Model for SME Growth and Adaptation. Businesses, 4(4), 738-764. https://doi.org/10.3390/businesses4040041

Article Metrics

Back to TopTop