Digital innovations for micro, small and medium enterprises in the net zero economy: A strategic perspective

Abstract

In order to achieve a net zero economy, there must be a thorough digital revolution where sustainability is given top priority by spurring innovation, generating efficiencies, and improving services. Data show that digitalization is essential to reaching sustainable development goals as the world community struggles to meet the urgent need to combat climate change. Therefore, this study aims at identifying important barriers to digital innovation for MSMEs in a net‐zero economy. This study used past academic literature and the fuzzy‐Delphi method to identify important barriers and the weighted influence nonlinear gauge system (WINGS) method to prioritize and develop contextual relationships between identified barriers. As per the findings, lack of organizational resources and support is the most crucial barrier to digital innovation. This is followed by challenges in designing a digital strategy. The novelty of this study is the identification of digital innovation barriers for MSMEs from net‐zero perspectives and prioritizing them using the WINGS method. This work will help practitioners to define clear organizational policies on digital innovation which will offer great promise for MSMEs to increase their performance.

Unlocking the link between low emission supply chains, blockchain adoption, and financial success: The payoff of socially responsible practices in supply chains

“…In short, regardless of the firm's size, all enterprises should begin the reformation of the traditional supply chain into LESCM. To enhance environmental and economic sustainability, they should adopt BT and green energy (Sonar et al, 2023). Although previous studies explored the impact of practicing green supply chain management on a firm's financial performance (Lerman et al, 2022), the mediation role of adopting BT and green energy between LESCM and financial performance in South Asian countries has until now remained unexplored (Gawusu et al, 2022; Jiang et al, 2023).…”

“…In other words, the study suggests that embracing low‐emission technologies and green energy can lead to financial growth. Businesses stand to benefit from improved financial performance, which could be a result of cost savings, increased customer satisfaction, and a positive environmental reputation (Sonar et al, 2023). Our findings are particularly important, as they establish a business case for sustainability and socially responsible behavior.…”

Unlocking Economic Landscape: Understanding the Dynamics of Financial Challenges, Business Traits, Financial Resources, Growth Phases, Financial Accessibility, and MSME Performance

“…Inadequate financial access affects MSMEs' inability to purchase sufficient raw materials to obtain high-quality products or services that meet global standards or requirements. This also causes MSMEs to struggle in achieving their performance objectives (Sonar et al, 2023). In particular, small businesses frequently encountering restricted financial access also undergo sluggish growth.…”