Digital Transformation Strategy in SMEs: The Role of Entrepreneurs' IEO

This paper explores the entrepreneurial orientation factors that influence SMEs' digital transformation strategy. To achieve this, this paper proposes a conceptual framework by revisiting and extending Miller (Management Science 29:770-791, 1983) and Gerschewski et al. (Review of International Business and Strategy 26:446-471, 2016) individual entrepreneurial orientation (IEO) model (i.e., innovativeness, proactiveness, risk-taking, entrepreneurial passion, and perseverance). The proposed model is validated using structural equation modeling (SEM). Our findings indicate that risk-taking and entrepreneurial passion positively affect the achievement of SMEs' digital transformation strategy goals, while proactiveness, innovativeness, and perseverance do not. To the best of our knowledge, this is the first study of its kind in this area.