Factors impacting successful digital transformation in small and medium enterprises in Ho Chi Minh City

Abstract

The robust development of the Fourth Industrial Revolution demands adaptability from Small and Medium Enterprises (SMEs) to thrive in the new environment. However, factors influencing the success of digital transformation in SMEs, particularly in emerging markets like Vietnam, have largely been ignored in previous studies. As such, this study examines the factors influencing individual and social consensus, with the mediating role of the acceptance attitude of the digital transformation. We have conducted a survey of 459 employees in SMEs in Ho Chi Minh City and utilize the Partial Least Squares Structural Equation Modeling (PLS-SEM) model to examine the impact of behavioral factors and innovative characteristics on the acceptance attitude of the digital transformation, individual and social acceptance. Our empirical results indicate that behavioral factors and innovative characteristics positively impact the acceptance attitude of digital transformation. Simultaneously, the attitude of acceptance of the digital transformation significantly influences both individual and social acceptance. Findings from this study provide valuable insights for managers in restructuring their enterprises by scrutinizing the determinants of digital transformation success.