DIGITAL ENTREPRENEURSHIP ADOPTION AMONG THE SMALL AND MEDIUM-SIZED ENTERPRISES IN MALAYSIA.
Keywords:
Digital Entrepreneurship, Entrepreneurship, Digital Economy, Small Medium Enterprise, Government Support
Abstract
The development of entrepreneurship in Malaysia has received the government's support over the past two decades by taking long-term measures to promote it, including world-class infrastructure and various financial incentives. Today, digitalization in entrepreneurship has helped improve economic development and change the Malaysian economic scenario based on digital. Adopting innovation during this transition to a new economy will equip entrepreneurs for digital transformation. Based on this scenario, strengthening the digitalization of the economy is essential for Small and Medium Sized Enterprises (SMEs). A Digital Entrepreneurship plan is one of the most dynamic methods to change and develop society. It closely relates to private sector development, SME policy, job creation, innovation, and competitiveness. Malaysia needs to see entrepreneurship as an essential component in the viability and competitiveness of the country's economy. Government support has implemented various initiatives and programs to address the unique needs of SMEs and entrepreneurs by providing financial assistance, human capital development, and market access assistance. A study on the use of digital entrepreneurship among SMEs needs to be conducted and, based on the geopolitical impact of the COVID-19 pandemic, may create a new economic model today. In today's SME business, sustainable entrepreneurship is led by an entrepreneur who practices sustainable management through innovation and value creation. The summary of these findings will show that this study is relevant for future studies and can be used as a literature reference in future research.
References
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McIntyre, D. P., & Srinivasan, A. (2017). Networks, platforms, and strategy: Emerging views and next steps. Strategic Management Journal, 38(1), 141–160. https://doi.org/10.1002/SMJ.2596
MEDEC. (2020). Malaysia National Entrepreneurship Policy 2030. In Book. https://www.conamype.gob.sv/
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Ngoasong, M. Z. (2018). Digital entrepreneurship in a resource-scarce context: A focus on entrepreneurial digital competencies. Journal of Small Business and Enterprise Development, 25(3), 483–500. https://doi.org/10.1108/JSBED-01-2017-0014
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Samara, G., & Terzian, J. (2021). Challenges and Opportunities for Digital Entrepreneurship in Developing Countries. Springer International Publishing. https://doi.org/10.1007/978-3-030-53914-6_14
Satalkina, L., & Steiner, G. (2020). Digital Entrepreneurship and its Role In Innovation Systems: A Systematic Literature Review as a Basis For Future Research Avenues For Sustainable Transitions. Sustainability (Switzerland), 12(7). https://doi.org/10.3390/su12072764
Secundo, G., Mele, G., Vecchio, P. Del, Elia, G., Margherita, A., & Ndou, V. (2021). Threat or opportunity? A case study of digital-enabled redesign of entrepreneurship education in the COVID-19 emergency. Technological Forecasting and Social Change, 166(January), 120565. https://doi.org/10.1016/j.techfore.2020.120565
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Varotsis, N. (2022). Digital Entrepreneurship and Creative Industries in Tourism : A Research Agenda.
Zatsarinnyy, A. A., & Shabanov, A. P. (2019). Model of a prospective digital platform to consolidate the resources of economic activity in the digital economy. Procedia Computer Science, 150, 552–557. https://doi.org/10.1016/j.procs.2019.02.092
Bowen, R., & Morris, W. (2019). The digital divide: Implications for agribusiness and entrepreneurship. Lessons from Wales. Journal of Rural Studies, 72, 75–84. https://doi.org/10.1016/j.jrurstud.2019.10.031
Cenamor, J., Parida, V., & Wincent, J. (2019). How entrepreneurial SMEs compete through digital platforms: The roles of digital platform capability, network capability, and ambidexterity. Journal of Business Research, 100, 196–206. https://doi.org/10.1016/J.JBUSRES.2019.03.035
Ciampi, F., Demi, S., Magrini, A., Marzi, G., & Papa, A. (2021). Exploring the impact of big data analytics capabilities on business model innovation: The mediating role of entrepreneurial orientation. Journal of Business Research, 123(June 2020), 1–13. https://doi.org/10.1016/j.jbusres.2020.09.023
Cohen, B., & Winn, M. I. (2007). Market imperfections, opportunity, and sustainable entrepreneurship. Journal of Business Venturing, 22(1), 29–49. https://doi.org/10.1016/J.JBUSVENT.2004.12.001
Croitoru, A. (2012). Schumpeter, J.A., 1934 (2008), The Theory of Economic Development: An Inquiry into Profit, Capital, Credit, Interest and the Business Cycle, translated from The German by Redvers Opie News Brunswick (U.S.A) and London (U.K.): Transaction Publishers. A re. Journal of Comparative Research in Anthropology and Sociology, 3(2), 137–148. http://papers.ssrn.com/sol3/papers.cfm?abstract_id=1496199
Davidson, E., & Vaast, E. (2010). Digital entrepreneurship and its sociomaterial enactment. Proceedings of the Annual Hawaii International Conference on System Sciences, June. https://doi.org/10.1109/HICSS.2010.150
De Reuver, M., Sørensen, C., & Basole, R. C. (2018). The digital platform: A research agenda. Journal of Information Technology, 33(2), 124–135. https://doi.org/10.1057/s41265-016-0033-3
DOSM. (2022). Interactive Malaysia Statistical Business Register. In Department of Statistics Malaysia (Issue June). https://www.dosm.gov.my/v1/index.php?r=column/cthree&menu_id=WXVrV3RYTmE3RmtwQ2RicVZTbVkvZz09
Economic Planning Unit. (2021). Malaysia Digital Economy Blueprint. Economic Planning Unit Prime Minister's Department, 104.
Endres, H., Huesig, S., & Pesch, R. (2022). Digital innovation management for entrepreneurial ecosystems: services and functionalities as drivers of innovation management software adoption. Springer, 16, 135–156. https://doi.org/https://doi.org/10.1007/s11846-021-00441-4
European Commission. (2015). Transformation of European Industry and Enterprises: A report of the Strategic Policy Forum on Digital Entrepreneurship. file:///C:/Users/JJM/Downloads/Final report Strategic Policy Forum_18.03.2015.pdf
Foster, C., Graham, M., Mann, L., Waema, T., & Friederici, N. (2018). Digital Control in Value Chains: Challenges of Connectivity for East African Firms. Economic Geography, 94(1), 68–86. https://doi.org/10.1080/00130095.2017.1350104
Gast, J., Gundolf, K., & Cesinger, B. (2017). Doing business in a green way: A systematic review of the ecological sustainability entrepreneurship literature and future research directions. Journal of Cleaner Production, 147, 44–56. https://doi.org/10.1016/J.JCLEPRO.2017.01.065
Ghezzi, A., & Cavallo, A. (2020). Agile Business Model Innovation in Digital Entrepreneurship: Lean Startup Approaches. Journal of Business Research, 110(February 2017), 519–537. https://doi.org/10.1016/j.jbusres.2018.06.013
Giones, F., & Brem, A. (2017). Digital Technology Entrepreneurship: A Definition and Research Agenda. Technology Innovation Management Review, 7(5), 44–51. https://doi.org/10.22215/timreview1076
Gupta, S., Justy, T., Kamboj, S., Kumar, A., & Kristoffersen, E. (2021). Big data and firm marketing performance: Findings from knowledge-based view. Technological Forecasting and Social Change, 171(November 2020). https://doi.org/10.1016/j.techfore.2021.120986
Hein, A., Schreieck, M., Riasanow, T., Setzke, D. S., Wiesche, M., Böhm, M., & Krcmar, H. (2020). Digital platform ecosystems. Electronic Markets, 30(1), 87–98. https://doi.org/10.1007/S12525-019-00377-4
Iivari, N., Sharma, S., & Ventä-Olkkonen, L. (2020). Digital transformation of everyday life – How COVID-19 pandemic transformed the basic education of the young generation, and why information management research should care? International Journal of Information Management, 55(June), 102183. https://doi.org/10.1016/j.ijinfomgt.2020.102183
Jere, J. N., & Ngidi, N. (2020). A technology, organization, and environment framework analysis of information and communication technology adoption by small and medium enterprises in Pietermaritzburg. SA Journal of Information Management, 22(1). https://doi.org/10.4102/SAJIM.V22I1.1166
Kraus, S., Burtscher, J., Vallaster, C., & Angerer, M. (2018). Sustainable entrepreneurship orientation: A reflection on status-quo research on factors facilitating responsible managerial practices. Sustainability (Switzerland), 10(2). https://doi.org/10.3390/su10020444
McIntyre, D. P., & Srinivasan, A. (2017). Networks, platforms, and strategy: Emerging views and next steps. Strategic Management Journal, 38(1), 141–160. https://doi.org/10.1002/SMJ.2596
MEDEC. (2020). Malaysia National Entrepreneurship Policy 2030. In Book. https://www.conamype.gob.sv/
Modgil, S., Dwivedi, Y. K., Rana, N. P., Gupta, S., & Kamble, S. (2022). Has Covid-19 accelerated opportunities for digital entrepreneurship? An Indian perspective. Technological Forecasting and Social Change, 175, 121415. https://doi.org/10.1016/j.techfore.2021.121415
Murthy, K. V. B., Kalsie, A., & Shankar, R. (2021). Digital economy in a global perspective: is there a digital divide? Transnational Corporations Review, 13(1), 1–15. https://doi.org/10.1080/19186444.2020.1871257
Nambisan, S. (2017). Digital Entrepreneurship: Toward a Digital Technology Perspective of Entrepreneurship. Entrepreneurship: Theory and Practice. https://doi.org/10.1111/etap.12254
National Entrepreneur and SME Development Council. (2020). SME Insights 2019/20. In SME Corp. Malaysia.
Ngoasong, M. Z. (2018). Digital entrepreneurship in a resource-scarce context: A focus on entrepreneurial digital competencies. Journal of Small Business and Enterprise Development, 25(3), 483–500. https://doi.org/10.1108/JSBED-01-2017-0014
Sahut, J. M., Iandoli, L., & Teulon, F. (2021). The age of digital entrepreneurship. Small Business Economics, 56(3). https://doi.org/10.1007/s11187-019-00260-8
Samara, G., & Terzian, J. (2021). Challenges and Opportunities for Digital Entrepreneurship in Developing Countries. Springer International Publishing. https://doi.org/10.1007/978-3-030-53914-6_14
Satalkina, L., & Steiner, G. (2020). Digital Entrepreneurship and its Role In Innovation Systems: A Systematic Literature Review as a Basis For Future Research Avenues For Sustainable Transitions. Sustainability (Switzerland), 12(7). https://doi.org/10.3390/su12072764
Secundo, G., Mele, G., Vecchio, P. Del, Elia, G., Margherita, A., & Ndou, V. (2021). Threat or opportunity? A case study of digital-enabled redesign of entrepreneurship education in the COVID-19 emergency. Technological Forecasting and Social Change, 166(January), 120565. https://doi.org/10.1016/j.techfore.2020.120565
SME Corp. Malaysia. (2012). Pelan Indus PKS 2012-2020 : Memangkin Pertumbuhan dan Pendapatan.
SME Corp. Malaysia. (2020). Guideline For SME Definition. In SME Corp. Malaysia.
SME Corp. Malaysia. (2022a). SME Corporation Malaysia - SME Definition. https://www.smecorp.gov.my/index.php/en/policies/2020-02-11-08-01-24/sme-definition
SME Corp. Malaysia. (2022b). SME Corporation Malaysia - SME Definition. SME Corp. Malaysia. https://www.smecorp.gov.my/index.php/en/policies/2020-02-11-08-01-24/sme-definition
Soltanifar, M., Hughes, M., & Gocke, L. (2021). Digital entrepreneurship. In Springer Nature Switzerland. Springer. https://doi.org/https://doi.org/10.1007/978-3-030-53914-6 ©
Sussan, F., & Acs, Z. J. (2017). The digital entrepreneurial ecosystem. Small Business Economics, 49(1), 55–73. https://doi.org/10.1007/s11187-017-9867-5
Varotsis, N. (2022). Digital Entrepreneurship and Creative Industries in Tourism : A Research Agenda.
Zatsarinnyy, A. A., & Shabanov, A. P. (2019). Model of a prospective digital platform to consolidate the resources of economic activity in the digital economy. Procedia Computer Science, 150, 552–557. https://doi.org/10.1016/j.procs.2019.02.092
Published
2022-12-19
How to Cite
Aziz, A., Jaganathan, M., & Abd.Rani, S. H. (2022). DIGITAL ENTREPRENEURSHIP ADOPTION AMONG THE SMALL AND MEDIUM-SIZED ENTERPRISES IN MALAYSIA. Ecosia International Conference, 542-551. https://doi.org/10.32815/ecosia.vi.59
Section
Articles
Copyright (c) 2022 Azizee Aziz, Mathivannan Jaganathan, Shamsul Huda Abd.Rani
This work is licensed under a Creative Commons Attribution 4.0 International License.
