Systematic Review of the Literature on SME Digitalization: Multi-sided Pressure on Existing SMEs

Over the last two decades, the field of SME digitalization has increasingly attracted research interest. This review contributes to extending and synthesizing knowledge by analyzing 77 articles from a broad range of business and management literature. The results confirm that the knowledge in the field is still scattered and immature. The study also reveals that sustaining and generating value through digital transformation is not dependent on exclusive factors but is dependent on a mix of various assets. The THIOMC model provides a framework that seeks to create a recognition and alignment of six major components. These components and sub-components reflected on are dynamically interrelated and refer to various business functions, value processes, and business settings. Moreover, insights from this research suggest that SMEs are composed of firms with a broad range of heterogeneity in the way how they approach the challenges of digitalization. Traditionally established SMEs are increasingly threatened from both sides, large, global acting enterprises as well as the entry of new, small competitors, whose business models are often based on digital affordances.