Unveiling the Factors of Readiness for Change in the Digital Sharing Economy: An Exploratory Factor Analysis
Abstract
The significance of an instrument is in its capacity to precisely and reliably assess the desired construct. This study aims to examine and construct a tool for assessing the level of preparedness for change within small and medium-sized enterprises (SMEs) operating in the digital sharing economy, as well as providing readers with an idea of what procedures should be followed when applying Exploratory Factor Analysis (EFA), sharing practical information about the latest developments in decisions to use the EFA method. The data were examined and verified using exploratory factor analysis techniques. The present study consisted of 103 SME owners selected randomly and met the predetermined criteria. The findings of this study demonstrate the presence of 86 indicator items categorized into seven fundamental constructs. The items under these seven constructs accounted for 69.1% of the overall variation. The average reliability coefficient for all constructs is 0.97, indicating that the indicators used to measure readiness for change in the digital sharing economy are reliable instruments. In addition to facilitating knowledge acquisition, these discoveries offer a dependable information resource for academics and practitioners in the field who are interested in prospective investigations about shift preparedness within the digital sharing economy. The importance of an instrument lies in its ability to accurately and consistently measure the intended construct.
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References
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