chapter 3 for dissertation paper I Need help with chapter 3 in the dissertation paper for quantitative methodology.
I need at least 15-18 pages for this c
chapter 3 for dissertation paper I Need help with chapter 3 in the dissertation paper for quantitative methodology.
I need at least 15-18 pages for this chapter 3 with references.
I have already worked on chapter 1 and 2, do align with this content and work on chapter 3.
DO ENSURE TO READ THE ATTACHED PAPER before starting to work on chapter 3 which will make the existing paper and the new content in chapter 3 sink well.
I am attaching sample chapter 3 content in a ppt file – pls refer this as mandatory 1
An Empirical Analysis of Organizational Factors Hindering Blockchain Adoption among Startups and Small Enterprises.
Draft version – Chapter 1, 2 and 3.
Blockchain technology is a new distributed ledger technology that is gaining popularity as an upgrading technology that records the source class and incorporates data-related processes to ensure the defined data is retained securely as a digital asset. Blockchain technology holds promising benefits by enabling organizations to operate in a secured pattern while allowing digital information to record and distribute. Its capacity to enhance security makes transactions more reliable with transparency, and this database can be shared across the network of computer systems. Blockchain can also facilitate the expansion of SMEs internationally as it creates trust between the parties involved. It provides SMEs with access to financial services such as loans often not offered by traditional banking systems.
Further, it reduces transaction costs and enhances operational efficiency within the business. Blockchain focuses on having a clear decentralized structure for end-to-end encryption for its network connecting users, making it more reliable and greater scalability. Looking at the latest evolution, we can ensure that the central authority of Blockchain can secure digital transactions in a quality environment. Also, Blockchain improves business efficiency as it reduces the number of activities and lead times among orders and ensures that customers can track down their orders on time.
However, despite these benefits, not many SMEs have embraced the technology due to underlying barriers. For SMEs to take full advantage of the opportunities presented by the technology, it is essential to understand the obstacles that limit blockchain adoption among SMEs. Therefore, the primary purpose of this research is to investigate the factors that restrict blockchain adoption among SMEs. The study is performed using the Resource Dependency Theory and the Diffusion theory.
Table of Contents
Chapter 1. Introduction 5
Research Background 6
Blockchain Technology 6
The Integration of New Technologies 8
Benefits of Blockchain Technology for SMEs 9
Problem Statement 10
Aim of the Study 11
Significance of the Research 12
Research Questions 13
Limitations for the adoption process 14
Chapter 2. Literature Review 15
Research Scope 16
Literature Search Strategy 16
Phase 1: Selecting Reputable Databases. 17
Phase 2: Literature Search 17
Theoretical Approach 18
Diffusion of innovation theory (dit). 18
The Resource Dependence Theory (RDT). 23
Blockchain Technology 24
Assumptions about the usage. 27
Current Technology trends. 27
Literature Review: Theory in Action 29
The Diffusion of Innovation Theory (DOI). 29
Resource Dependency Theory (RDT). 31
Blockchain Adoption 32
Characteristics of Blockchain 32
Impact Analysis 34
Reduced Operational Costs. 35
Enhancing Brand Image. 36
Contributes to organizational culture. 36
Enhances data security and privacy. 36
Access to financial services. 37
Increased network size. 39
Improved security in data transfer. 39
Improved efficiency in the supply chain. 40
Factors involved in the Decision-making Process 41
Cost of implementing and maintenance. 42
Organizational culture. 43
Management Support 43
The Readiness of an Organization. 44
The size of the organization. 45
Blockchain Adoption among SMEs 46
Characteristics of SMEs. 47
Blockchain in the context of SMEs. 48
The limitations of blockchain technology. 49
Analytical and systematic approach 50
Chapter 1. Introduction
Blockchain presents significant opportunities for organizations. It is considered a disruptive technology that will change how most organizations conduct their operations as it bears huge innovative potential. Innovation is one of the sources of competitive advantage and economic growth, especially in today’s ever-changing economic condition (Holotiuk & Moormann, 2019). Disruptive innovations are the ones that lead to the development of new markets or value networks. They completely transform the current market or replace existing products and services. Therefore, for organizations to remain competitive and increase their market share, it is essential to consider the adoption of Blockchain technology.
However, several challenges limit the implementation of blockchain technology. Choi et al. (2020) also noted that the adoption of Blockchain among organizations has been very slow due to factors that limit the firm’s decisions. Additionally, the epidemic theory recognizes that the process of introducing new technology into an industry can be lengthy and time-consuming. While some organizations prefer to be at the forefront of adopting new technology, others prefer playing it safe. Moreover, other organizations could be considering their decision to adopt the technology based on their available resources, or in other cases, the proposed benefits are not as convincing (Choi et al., 2020).
Blockchain is a highly complex procedural activity requiring a high degree of data management and IT skills. This makes it a challenge for small businesses with financial resource constraints and limited access to other resources. Blockchain has become one area that such organizations can only implement in partial intervals despite the objectives of such business establishments expanding sales and diversifying. Strategies to ensure that organizations adapt to business technology changes such as Blockchain are crucial to both the business and the stakeholders.
Managers are seeking to position their companies by concentrating on technological megatrends and emerging growth sectors. PwC and Gartner collaborated to create a list of significant technological megatrends for 2017. The top five combined areas include 1.) Analytics including machine learning and artificial intelligence, 2.) Cloud computing, 3.) Internet of Things and connected systems such as drones, 4.) Virtual and augmented reality, and 5.) Blockchain including distributed ledgers and value exchange transactions. This study focuses primarily on the megatrend of Blockchain and related distributed ledger capabilities. As blockchain technology can dramatically change numerous sectors, interest in this field increases (Woodside, Augustine Jr & Giberson, 2019). While considerable interest is, most blockchain implementations are still in the alpha or beta stages due to substantial technological difficulties.
Blockchain was first publicized to trade bitcoin, but its significant vital functions, such as smart contracts and ledgers, make it unique. Blockchain is a decentralized digital ledger that allows for recording all peer-to-peer transactions without a centralized authority. Blockchain technology facilitates collective bookkeeping. This enables users to agree on the validation of transactions through a mathematical hash function (Holotiuk & Moormann, 2019). The transaction information is registered in blocks that are reviewed and verified by the network. The network provides distributed ledger of verified transactions.
The blockchain idea is comparable to the Internet, including a diverse set of underlying technology and uses. Continuing in this vein, some experts predict Blockchain will have a similar impact on business as the Internet did. Blockchain technology can replace central banking systems and other use cases like business process optimization, trading, health information sharing, automobile ownership, and voting. Blockchain technology enables cryptocurrency.
Data is stored in blocks and forms into a chain. When a new record of information is added to the chain, we can no longer change the chain block. This makes it more reliable to use the system in that once the information is stored, it cannot be altered or edited by other parties in access to the report. Organizations suffer data loss or loss of evidence to investigations due to the suspected parties’ edited data to eliminate factors that would incriminate the parties. It becomes easier for organizations to make more reliable decisions towards operations and improve performance due to reliance on a more reliable data source.
With the advancement in technology in recent decades, with most organizations shifting their data from the physical storage units such as backup drives and other sources, there has been an increase in risk as more hacks and unauthorized access prevail. This has contributed to the need for systems to ensure that there are no hacks to information systems and programs to ensure data cannot be changed in any way. Blockchain has addressed the issue by providing that all information stored in the organization is not altered.
Although blockchain technology has been associated with significant skepticism, especially with its first application n bitcoin, the technology has gained considerable attention (Tapscott & Tapscott, 2016). Blockchain is applicable in the financial sector and in other industries to coordinate the movements of goods, keep track of health records, and manage original content. The practical application of Blockchain technology has also raised concerns within the academic community due to trust and cryptographic factors (Beck et al., 2016).
The Integration of New Technologies
The world today is subject to rapid technological changes. Thus organizations, including startups and small enterprises, are required to react based on these changes. This is because innovative technologies change the way goods, services, and, in some cases, whole industries operate. Thus, when companies fail to respond to these technological and environmental changes, the chances are high that they will fail. This has been witnessed among large corporations such as Blackberry, Nokia, and Kodak, which were leaders in the industry for a long time but failed to uphold this position because their competitors adopted new and superior technologies (Hussein, 2020). Therefore, it is essential to understand how small enterprises and startups would benefit from adopting new technologies.
One of the most critical aspects of technology adoption is the management’s willingness to adopt the technology and make changes to its current business model and operations. This is known as the primary phase, where management is responsible for deciding whether or not to adopt a technology. This is an essential aspect of the technology adoption process (Ebers & Maurer, 2016).
After the preliminary decision to adopt technology has been determined, secondary adoption begins. Secondary adoption refers to the adoption of the technology by the user and is determined by the nature of the organization. Secondary adoption can take any of the following approaches: the management can mandate technology adoption across the organization at once, provide the needed resources to facilitate the adoption process or target specific pilot projects in the organization, observe the process and outcomes to determine whether implementing the project in the entire organization would be beneficial.
Benefits of Blockchain Technology for SMEs
Blockchain technology is expected to result in significant benefits for small enterprises and startups. Unlike larger firms, small enterprises and startups often struggle with access to resources. Therefore, this implies that they have to use resources sparingly to avoid wastage. One of the advantages of Blockchain is that it eliminates intermediary transaction costs, thus reducing operational costs. The reduction of transaction costs positions small enterprises and startups better to compete well with larger companies.
A significant challenge faced by small enterprises and startups is internalization. The success of small enterprises and startups requires additional resources and trusted relationships. The challenge of loss of resources makes small enterprises and startups hesitant to do business with actors who lack credible trading records (Ilbiz & Durst, 2019). This hesitation could limit small enterprises and startups from taking advantage of potentially profitable opportunities. However, intelligent contracts resolve these challenge as it provides small enterprises and startups with the opportunity to do business with untrusted parties. Smart contracts create a platform where peers do not need to trust one another to transact. Small enterprises and startups can set their terms and conditions to execute business transactions. Smart contracts allow money to be held in the Blockchain until the goods are delivered, thus eliminating risk for small enterprises and startups.
Additionally, when blockchains are used to facilitate online documentation, the chances of human errors are eliminated. This is because data recorded in the Blockchain cannot be altered. Once a transaction is made between peers, it is validated by nodes, thus making it impossible to alter these records in the Blockchain. Therefore, this implies that peers have to be certain about data posted in the Blockchain. According to Wong et al. (2020), small enterprises and startups rely on less formal business processes, unlike larger enterprises. Thus, they are more prone to making mistakes during their data management processes. Blockchain presents an opportunity to resolve this challenge through the unalterable data recording system.
Another significant benefit of Blockchain is that it eliminates the reliance of peers on a central authority due to its decentralized nature (Wong et al., 2020). Additionally, Carson et al. (2018) highlighted that the potential benefits of blockchain increase with the size of the network. This implies that as the Blockchain grows, it becomes stronger to external attacks. For startups and small businesses to reap the benefits of blockchain technology, they need to be part of a more robust and more extensive network. Ilbiz & Durst (2019) advised that before startups and small businesses invest in blockchain technology, they need to consider whether their network capacity is sufficient to saturate distributed nodes.
Blockchain implementation in startups and small businesses has been reported as a prevailing challenge among various small-scale companies. Generally, the process of introducing a new technology in the market can be very lengthy. While some organizations would prefer to adopt a technology when it is new, others prefer to wait while observing the performance of the technology in other organizations. Additionally, some organizational factors hinder the adoption of blockchain technology, especially among startups and small enterprises. In support, Lohmer & Lasch (2020) investigated existing barriers in blockchain technology. The research results noted that obstacles to Blockchain adoption are still existent through lack of organizational awareness, skepticism regarding trust, legal and regulatory uncertainties, and lack of standards.
This is evident through different startups and small companies not implementing the Blockchain, and some of which have implemented had challenges implementing the strategy. To determine how to enhance the performance, there needs to be a clear understanding of Blockchain implementation in smaller firms. Factors that determine the effectiveness of the process have to be specified in terms of the business’s ability. This provides a foundation to assess why the implementation of Blockchain becomes a challenge to business organizations and what factors hinder the use of Blockchain in such startups and small businesses.
Aim of the Study
Although blockchain technology has received significant praise regarding its capabilities to enhance business efficiencies, small enterprises and startups’ adoption rate is significantly slow (Mathivathanan et al., 2021). There are two types of people in technology adoption early and late adopters. Organizations in different sectors are considering adopting the technology to reap its benefits in terms of improved business efficiencies or to wait until the integration of the technology becomes more cost-effective, and its benefits are more promising (Choi et al., 2020).
The primary purpose of the thesis and this study is to explore the unprecedented factors and drawbacks that make blockchain adoption difficult among startups and small firms. Regardless of its usefulness, the adoption rate among small enterprises and startups has been significantly slow (Kouhizadeh et al., 2021). Choi et al. (2020) highlighted that the adoption rate might be lower due to lack of scalability, difficulty to integrate with legacy systems, and mainly due to lack of awareness.
To successfully implement blockchain technology, it is essential to understand the factors that hinder its adoption. Understanding these limitations will be possible to develop solutions that would significantly improve the technology’s rate of acceptance and adoption. The primary purpose of the present research is to unveil the factors that hinder blockchain adoption among startups and small organizations. This study also investigates organizational adoption methods in the decision-making process by contributing to the benefits of adopting the Blockchain in upcoming businesses. This research will be focused on bringing blockchain technology a step closer to practicality. The study will attempt to understand the organizational factors that favor blockchain adoptions and identify the main barriers limiting startups and small enterprises from adopting the technology. A significant portion of research studies on obstacles to blockchain adoption focuses on supply chains, making them prominent and unique. It addresses how startups and small businesses can leverage the benefits of blockchain technology. Blockchain can further improve traceability and transparency to impact every sector using this technology designed to operate without a central authority.
Significance of the Research
From the discussion presented, it is evident that Blockchain offers significant opportunities to elevate the state of startups and small businesses. However, regardless of these opportunities, the blockchain adoption rate among startups and small businesses remains very low. Thus, the primary purpose of this research is to identify the underlying challenges of blockchain adoption among small enterprises and startups despite the many benefits that the technology presents in strengthening their competitive advantage. Understanding these factors is essential because it will provide recommendations that can be used to resolve these challenges and make it easier for startups and small businesses to adopt and reap the benefits of blockchain technology. Additionally, findings from the research will enable startups and small enterprises to understand how blockchain technology can allow them to enhance efficiency and the factors that could limit them from successfully implementing the technology.
Research Variables in the study will be the independent variables such as perceptions of a firm regarding risks of early blockchain adoption, availability, IT investment, the size of the firm, and the security involved. The dependent variable will be blockchain adoption. The dependent and independent variables will be measure based on a 5-point Likert Scale. The research will rely on correlation and regression to determine the relationship between the dependent and independent variables.
Article: Blockchain Technology and the Sustainable Supply Chain: Theoretically Exploring Adoption Barriers (Kouhizadeh et al., 2021).
“Why has blockchain technology not been implemented in supply chains considerably for sustainability purposes? Can the barriers be examined theoretically and placed within TOE and force field frameworks? What are the levels of importance and relationships amongst the barriers?” (Kouhizadeh et al., 2021).
How do participants feel or be able to change to new technology and the impact they fear?
Participants: Academics and practitioners knowledgeable in Blockchain and sustainable supply chains.
Findings: The research attempts to help better understanding the current Blockchain adoption decision factors and their existing technological barriers. The study highlights the significance of organizational involvement in reducing barriers to blockchain adoption and helps decide the drawbacks by making Blockchain a success.
Limitations for the adoption process
One of the significant limitations in adopting Blockchain is limited knowledge on the nature and applications of Blockchain in organizations. This is contributed by the low level of awareness and understanding, particularly for small organizations and startups. With such challenges, resistance among stakeholders becomes an issue. The majority of the shareholders not supporting implementing the projects such resistance results in long adoption processes, which consume much time and resources for the organization. Also, regulation and governance become an issue in implementing the adoption of the Blockchain in the organization. The organization must comply with the outlined laws and regulations to ensure the blockchain adoption process is legal. The company is free from potential legal liabilities associated with non-compliance. In addition to the limitations is a high cost associated with the adoption process. The small organization must organize resources and expertise to ensure maximum efficiency in the adoption process (Xu et al., 2020).
Chapter 2. Literature Review
The primary purpose of the research is to explore the barriers to blockchain adoption among small enterprises and startups. Therefore, the first scope for the present research is that the study will be limited to startups and small enterprises. Additionally, the data collection process will also be limited to owners, employees, and managers working at small enterprises and startups. The COVID-19 protocols will determine the research recruitment process to social media platforms. To maintain a reasonable scope, the research will be limited to the organization in the United States. To quantify the opinions from participants, and due to time and resource constraints, the scope will be limited to a quantitative research methodology.
The findings from the research are expected to provide recommendations on how blockchain technology can be easily integrated among startups and small enterprises to enhance operational efficiency and effectiveness. This section provides a detailed analysis of different concepts developed by other scholars about the topic of study. The literature produced in this section aims to determine the research gap that needs to be filled by engaging in additional research activities to solve the problem raised in the topic. As discussed in this section, there have been different research findings on blockchain adoption in small organizations. Each scholar is trying to solve a specific area of the adoption process. This research starts with a comprehensive analysis of two theories: Resource dependency theory and diffusion of innovation theory. The two theories provide a basis for the development of other innovation adoption concepts and policies. Understanding the theory enhances applying the triangular approach in deriving blockchain adoption on startups and small organizations. However, the blockchain adoption process is based on certain assumptions that determine its effectiveness in attaining its objectives and goals.
The primary purpose of the research is to explore the barriers to blockchain adoption among small enterprises and startups. Therefore, the first scope for the present research is that the study will be limited to startups and small enterprises. Additionally, the data collection process will also be limited to owners, employees, and managers working at small enterprises and startups. The COVID-19 protocols will define the research recruitment process to social media platforms. To maintain a reasonable scope, the research will be limited to the organization in the United States. Also, to quantify the opinions from participants, and due to time and resource constraints, the scope will be limited to a quantitative research methodology.
The findings from the research are expected to provide recommendations on how blockchain technology can be easily integrated among startups and small enterprises to enhance operational efficiency and transparency.
Literature Search Strategy
The research will use a systematic literature review technique for the literature section based on Preferred Reporting Items for Systematic Reviews and Meta-Analyses. The research will prior research studies based on the research questions and hypothesis will be developed. Empirical evidence will be identified from different databases; these will be reviewed and assessed to find the most suitable and relevant scholarly materials relevant to the present research. Existing studies were reviewed based on the questions posed in this current review, and the findings obtained are presented in a manner that ensured that research questions are answered comprehensively. The systematic review will be done in three phases: selecting reputable databases, literature search, screening process, and analysis.
Phase 1: Selecting Reputable Databases.
Electronic databases will be used in the review to retrieve appropriate articles relevant to the topic under investigation. The databases used in this present review will be selected based on their ability to provide as many scientific publications as possible. Accordingly, six reputable databases will be considered to aid in the literature survey process. These include Elsevier, EMBASE, PubMed, EBSCOhost, ProQuest, Web of Science, Emerald, and Scopus. These databases will be used to search for relevant publications on the subject under review. The research will mainly focus on scholarly works published between January 2019 and May 2021. This ensures that the information included in the literature survey is up-to-date and relevant for the research process.
Phase 2: Literature Search
After determining reputable databases to use, a literature search will be conducted across all the databases to identify the most appropriate scholarly materials. Search terms or keywords will be formulated to assist in the literature search process. The keywords developed in the review to find relevant scientific studies will include: “blockchain adoption,” “Blockchain adoption AND small enterprises, “Blockchain adoption AND startups,” and “blockchain adoption AND barriers.” Keywords with Boolean operators “AND” and “OR” will be used during the search process.
Boolean operators will help connect the keywords to find the relevant publications. Using the identified keywords helped retrieve the most pertinent articles relating to the topic of this review. The keywords and Boolean operators used in the search process will develop a pool of scholarly materials that can efficiently support the findings from the research. However, it is expected the literature search will result in a large number of academic materials. Thus, it is essential to develop inclusion and exclusion criteria that will limit the number of studies to be included and guarantee that the studies included are quality are related to the topic in discussion.
Inclusion Criteria: The literature review will only include scholarly works published between 2019 and 2021. The research will also have peer-reviewed journals as they are known to be credible sources of information.
Exclusion criteria: Research books, conference proceedings, organization reports, magazines, web articles, theses, periodicals, research papers, and doctoral dissertation papers are excluded. Articles published later than three years and published in another language other than English will also be excluded. Further, non-full text articles or those with only abstracts were excluded from the review.
Theories used for the research are the Diffusion of Innovation Theory (DIT) and the Resource Dependency Theory (RDT). These two theories explain the different processes used in adopting a project in an organization and the various factors considered in implementing the strategy.
Diffusion of innovation theory (dit).
The diffusion theory was developed by EM in 1962 and is among the oldest theories in social science. The theory initially originated from communication and was used to explain how a product or an idea gained momentum over time and was adopted by people within a social system. The result of the theory is the ability of people to adopt the behavior and make it part of the social system. The main underlying idea behind this theory is that people would perceive this idea or product as innovative. However, the adoption of a new idea or does not coincide with a social system. Instead, it is procedural where some people are more apt about adopting the innovation than others. The theory asserts that people who are more likely to adopt technology at its infancy stage portray different character traits than those who embrace it later. Therefore, when innovation is advertised to a target market, it is essential to consider the character traits …