Jtaer 19 00071 v2

Article
Driving Success: Unveiling the Synergy of E-Marketing,

Sustainability, and Technology Orientation in Online SME
Mirela Cătălina Türkes,
Faculty of Marketing, Bucharest University of Economic Studies, 010374 Bucharest, Romania;

[email protected]; Tel.: +40-728-176-475
Abstract: In Romania, the pandemic and post-pandemic effects, coupled with the nearly 80% increase
in internet service penetration, have led to an extraordinary acceleration of e-commerce activity.
Rising rents and operational costs, heightened financial challenges, and the improved quality and
accessibility of internet connectivity have prompted some Romanian SMEs to sell their products and
services online or through other online communication networks. In this context, it becomes essential
to conduct marketing research to identify factors that could stimulate business performance. The
purpose of this study is to assess the impact of e-marketing orientation, sustainability orientation,
and technology orientation on the performance of online SMEs in Romania. Hypothesis testing and
validation of the proposed construct model were conducted using structural equation modeling with
partial least squares (SEM-PLS) and multi-group analysis (PLS-MGA). The research results have
indicated that all three independent variables have positive and significant effects on online SMEs’
business performance. Finally, the study suggests that SME managers should focus on integrating
these three variables and on selling products and services both nationally and internationally through
the internet if they aim for long-term business performance growth.
Keywords: e-marketing orientation; sustainability orientation; technology orientation; business

performance; SMEs online; e-commerce intensity
Citation: Türkes, , M.C. Driving

1. Introduction
Success: Unveiling the Synergy of
E-Marketing, Sustainability, and
During the pandemic and post-pandemic period, both small- and medium-sized
Technology Orientation in Online enterprises (SMEs) worldwide and those in Romania faced unprecedented challenges
SME. J. Theor. Appl. Electron. Commer. such as business and liquidity disruptions, a decreased market demand, unemployment
Res. 2024, 19, 1411–1441. https:// constraints, the lack of infrastructure for rapid digital business transformation, and others.
doi.org/10.3390/jtaer19020071 Simultaneously, in order to cope with the economic, social, and environmental challenges
of recent years, SMEs also had to prepare for the transition to a digital and sustainable
Academic Editor: Ting Chi
economy. In this regard, SME managers have become aware of the need to integrate new
Received: 31 January 2024 approaches regarding business orientation to address these challenges.
Revised: 19 May 2024 Derived from market orientation, e-marketing orientation (EMO) is more of a culture
Accepted: 28 May 2024 that illustrates the extent to which enterprises respond to customer desires and make deci-
Published: 4 June 2024 sions based on information about customer needs and preferences. Recent studies suggest
that small- and medium-sized enterprises (SMEs) that demonstrate greater sensitivity to
customer needs and desires may differentiate themselves in the market and achieve more
business benefits, such as personalized communication with customers, adapting products
Copyright: © 2024 by the author.
and services to customer needs, reducing transaction costs [1], broader market coverage,
Licensee MDPI, Basel, Switzerland.
improved customer service quality [2,3], facilitating communication with stakeholders, or
This article is an open access article
distributed under the terms and
opportunities for new product development [4–6].
conditions of the Creative Commons
At the same time, Romanian enterprises must undertake responsible actions towards
Attribution (CC BY) license (https:// the economy, society, and the environment to contribute to the building of a sustainable
creativecommons.org/licenses/by/ economy. Some research highlights the fact that an increasing number of SMEs have
4.0/). proceeded to reconfigure their strategic orientation, directing their focus towards new
J. Theor. Appl. Electron. Commer. Res. 2024, 19, 1411–1441. https://doi.org/10.3390/jtaer19020071 https://www.mdpi.com/journal/jtaer
J. Theor. Appl. Electron. Commer. Res. 2024, 19 1412
sustainable development actions [7]. Gradually, they have begun to integrate the princi-
ples and objectives specific to sustainable development, such as economic development,
social development, and environmental protection, known to practitioners and researchers
as sustainability orientations (SOs) [8]. Previous research suggests a series of long-term
benefits that enterprises could obtain by implementing sustainability orientation, for ex-
ample: external benefits—obtaining financial support for the implementation of process
re-engineering measures for resource efficiency, improving value and performance through
technical and business consulting, strengthening ties with the community, and recycled
products [9,10]; and internal benefits—reducing production costs, improving the image and
brand of the enterprise, organizational value and culture, and management and employee
commitment [11].
Technology orientation (TO) has recently gained particular attention from both en-
trepreneurs and managers, as well as researchers. The integration of new technologies
within SMEs could yield multiple long-term benefits, such as easy, fast, and efficient com-
munication with stakeholders, efficient manufacturing techniques, reduced waste, effective
inventory and ordering systems, new sales channels, and new capacities for developing
innovative approaches [12,13].
In Romania, SMEs represent 89% of the total companies in the economy (around
500,000 SMEs) and three-quarters of the jobs in the private sector. Moreover, they contribute
nearly 62% to the Romanian GDP and are the primary creators of added value in most
sectors. Considered the pillars of the Romanian economy, SMEs continue to play an
essential role in accelerating economic growth and currently contribute to the digital and
ecological transition to address current competitive challenges in the context of economic
digitization [14]. In Romania, the rapid development of information technology (IT) over
the last five years has altered the purchasing and consumption behavior of the population
and has enhanced the development, innovation, and adaptability capacity of SMEs to
market needs, trends, and requirements. This supports the construction of a fair and
competitive digital economy.
As SMEs remain the primary contributors to the Romanian GDP, few studies have
identified and evaluated the common influence of specific factors on their performance
in the post-pandemic context. A recent study showed that the implementation of circular
economy practices and the integration of IT solutions lead to higher profitability rates
among Romanian agri-food SMEs, especially if they exhibit high risk and increase the
number of digital investments [15]. Another study demonstrated that the performance of
Romanian SMEs, particularly young ones, improves when resorting to external consulting
services in financial, accounting, marketing, IT, environmental protection, and others [16].
Considering the increasing number of individuals conducting digital transactions
among internet users and the growing presence of Romanian SMEs in the e-commerce
market in Romania, we believe that conducting marketing research is essential for as-
sessing the common impact of current determinant factors on the performance of their
online businesses [17]. There is a heightened interest in analyzing the role of business
orientations among SMEs that vary in the adoption and integration of e-marketing, sus-
tainability, and technology. The existing literature lacks any research providing empirical
evidence regarding the common impact of these three orientations on the performance of
online SMEs.
This study aims to evaluate the impact of e-marketing orientation (EMO), sustainability
orientation (SO), and technology orientation (TO) on online SME business performance
(OBP) in Romania (See Table 1).
This study provides several valuable contributions. First, it addresses a new theme
by identifying and analyzing the determinants’ effects on the performance of online SMEs
and complements the existing literature on improving business performance. Second, the
study develops a new multidimensional model, proven to be valid and robust, offering
developmental perspectives for future studies. Third, the study enhances the literature on
business orientations among SMEs. Existing studies indicate that the attention of managers
and researchers has generally focused on the effects of sustainability and technology
orientations on business performance, with less emphasis on the role and opportunities
offered by e-marketing orientation for the development of SMEs. The pandemic and post-
pandemic experience have demonstrated that the internet continues to provide multiple
opportunities for SMEs, particularly in promoting and distributing products and services
through websites and social media platforms. The combination of the three latent variables
and their impact on business performance highlights the essential role played in managing
online SMEs and their contribution to the development of a sustainable Romanian economy
in the future.
Table 1. Research objects.
Objective Description
Discovering specific items for e-marketing orientation (EMO), sustainability
Q1 orientation (SO), and technology orientation (TO), and assessing their combined
impact on online SME business performance (OBP);
Identifying significant differences between e-commerce intensity groups for the
Q2
three proposed correlation paths (EMO → OBP, SO → OBP, and TO → OBP).
The following section provides a review of relevant literature, frames hypotheses

regarding the e-marketing, sustainability, and technology orientation of online SMEs, and
illustrates the profound changes we are witnessing. These changes are marked by the
reshaping of e-commerce systems to enhance business performance, the modification of
how enterprises work, communicate, and gather information using new technologies,
the shift in consumer behavior, and changes in production and consumption systems to
support social development and contribute to the regeneration and preservation of natural
environments. Section 3 presents a phased approach to the research method, data collection
and analysis, respondent profiles, questionnaire validation, and common method bias.
Section 4 unfolds the results of the marketing research. Section 5 introduces the discussion
on the obtained data and the theoretical and managerial implications of the study. The
limitations and future research directions complete Section 6.
2. Literature Review and Hypothesis Development

The COVID-19 pandemic has generated profound changes in e-commerce behavior,
altering the way entrepreneurs organize and develop their businesses, and establish strate-
gies for selling and promoting products and services, as well as how consumers choose to
make purchases and payments. Furthermore, the internet and digital technologies have
proven to be crucial tools for the development of e-commerce and online transactions [18].
Both during and after the pandemic, e-commerce has become the saving grace for the
majority of traditional stores. They were forced to quickly implement or expand online
sales, click-and-collect shopping services, or home delivery. In recent years, e-commerce
has developed differently from country to country, depending on the imposed restrictions
and the nature of the business. To remain competitive and agile in an increasingly com-
petitive and dynamic business environment, SMEs must have a good absorptive capacity
and efficient corporate entrepreneurship to constantly mediate the relationship between
information technology capabilities and firm performance [19].
2.1. E-Marketing Orientation (EMO)

The transition from mass production (the Second Industrial Revolution) to automated
production (the Intelligence Revolution) has been marked by economic transformations
where new energy systems work in conjunction with emerging communication technolo-
gies. The convergence of information and communication technology through the internet
with renewable energies in the 21st century has given rise to profound changes in the
market, including the emergence of new forms of communication between enterprises,
stakeholders, and clients; the use of diverse means of business management and organiza-
tion; market segmentation, specialization, and distinct positioning; a better organization

of marketing activities and the creation of conditions for an open market accessible to
everyone; and the increased role and importance of SMEs in the market [20].
Electronic marketing, also known as e-marketing, encompasses the entirety of market-
ing activities conducted through the internet. Both the literature and economic practice
often use this term interchangeably with internet marketing, web marketing, online mar-
keting, or digital marketing [21]. The importance of e-marketing has been amplified by the
transformation and popularity of the internet in recent years. E-marketing, utilizing the
internet as a platform, has brought about significant changes in business and consumer
behaviors. Furthermore, it has enabled enterprises to attract new customers and expand
existing ones, promote and sell more products and services, develop a brand identity, adopt
marketing strategies in correlation with the current needs of customers, reduce transaction
costs, communicate more effectively with customers, and eliminate time and location
constraints inherent in traditional distribution channels [22].
Marketing orientation remains a business approach that mandates all processes of
the development and creation of new products or services to be focused on meeting the
current needs of consumers [23]. In contrast, the new concept of strategic orientation,
namely, e-marketing orientation (EMO), is committed to a superior enterprise performance
through the use of the internet and digital technologies in delivering products and services
to customers based on their needs and preferences [24].
In the technology era, e-marketing has become an integral and indispensable part
of marketing policies and strategies regardless of the nature and size of the enterprise.
According to [25], EMO represents a modern business philosophy that provides SMEs with
the opportunity to promote products and services through the internet and online-based
digital technologies, such as desktop computers, mobile phones, digital platforms, social
media, etc. As this orientation becomes increasingly popular among practitioners and re-
searchers, various typologies of e-marketing are evident in the market, such as social media
marketing, mobile marketing, email marketing, search engine optimization (SEO), and
paid advertising (PPC). However, regardless of the typology used, e-marketing orientation
offers multiple advantages to enterprises, regardless of their size and market experience.
Investigating the adoption of internet-based e-commerce among SMEs in Turkey, Ref. [4]
observed that e-marketing orientation provides the ability to target customers more quickly
and cost-effectively through the distribution of useful and relevant content.
The most commonly used tools for this purpose are video marketing, blog posts and
articles, social media content through the influence of influencers, targeted advertising,
or referral marketing. The implementation of e-marketing also contributes to reducing
opportunity costs through the automation of electronic supports [26], and operating and
marketing costs [27], as well as transaction costs [28]. In addition to cost reduction, Ref. [29]
observed that the use of e-marketing platforms leads to better geographical targeting and
increased visibility, providing SMEs with the opportunity to attract more customers, and
deliver large quantities of information, unlimited and without human intervention, in an
easily processed and understood form.
Through e-marketing orientation, enterprises can quantify and collect customer
data [30], provide visual maps of digital knowledge for consumers [31], create customer re-
lationship management (CRM) systems that match customer preferences [32], and develop
marketing systems using email as a delivery method [33]. Numerous technologies such as
computer telephony in call centers, web-based text chat or voice, web-based catalogs chat
rooms, email, personalized web pages, FAQ pages or large databases, frequently asked
questions (FAQ) pages, CRM databases, call centers that use computer telephony, POTS
telephony, IP telephony permit real-time interaction between enterprise marketing agents
and end consumers [34–36].
Ref. [37] argued that, in the conditions of volatile and turbulent demand, such as
the online fashion market, enterprises can ensure success only through flexibility and
responsiveness to change. This involves incorporating current customer preferences into
the design and production process, reacting quickly to product launches, and swiftly
adjusting the product sales volume. Ref. [38] proposed a new approach to “integrated e-
marketing value creation” processes on the internet, providing enterprises with information
about the need to develop e-marketing strategy implementation skills in a short timeframe
to ensure success in the digital world. According to [39], using a strategic approach and
one-to-one marketing relationship management processes, enterprises can achieve value
exchanges based on information about market segments’ receptiveness and preferences,
despite increasing consumer confidentiality. Ref. [40] had shown that, in order to gain
a market positional advantage and enhance long-term performance, enterprises must
integrate market, entrepreneurial, and learning orientations, as well as the use of specific
internet marketing technologies.
Ref. [41] argued that, for small- and medium-sized enterprises (SMEs) to take the best
measures to improve e-commerce performance, they must identify the factors affecting
the extent of e-marketing coverage from the perspective of organizational orientation.
Thus, e-marketing orientation (EMO) becomes a necessary strategic action that, alongside
other enterprises activities, contributes to enhancing customer satisfaction and business
performance. The specialized literature indicates a limited number of studies examining
the effect of EMO on SME performance. Ref. [42], examining the interrelationship between
market orientation and EMO, attempted to identify alternative mechanisms contributing to
the improvement of tourism service performance. Ref. [43] argued that SMEs adopting “al-
ternative” marketing approaches, such as industrial, business, contact, social, and network
marketing, can enhance their financial performance. Ref. [44] demonstrated that adopting
EMO and utilizing electronic media can lead to long-term marketing performance improve-
ment, particularly evident through increased sales and attracting a larger consumer base.
The positive effect of EMO on firm performance, reflected in sales, customer satisfaction,
and relationship development, has also been reported by [45].
Ref. [46] had shown that supporting secondary processes of the enterprise (product
quality, cycle time, customer service, stakeholder relations, and employee satisfaction)
contributes to achieving primary objectives related to satisfying consumer needs and
increasing profit. It is necessary to use a performance measurement system for both
financial and non-financial aspects. Analyzing the effect of multiple capabilities and brand
orientation on SME performance, Ref. [26] observed an increase in financial performance
following the application of e-marketing capabilities. E-marketing orientation (EMO)
should be viewed by SMEs in developing countries as a means of improving strategic
business performance, as a way to enhance e-trust with customers [47]. Ref. [48] suggested
that business strategic performance increases as SMEs set objectives and adopt specific
EMO and e-trust strategies.
2.2. Sustainability Orientation (SO)

SMEs represent the key to transitioning towards more sustainable economies. In
recent years, they have faced external pressures to adapt to the effects of climate change
and environmental degradation, as well as pressures from stakeholders—organization
owners, business partners, directors, and public institution employees, banks, suppliers,
and consumers. Generally, SMEs have limited financial resources, making their daily
operations a major priority in the face of the transition to sustainability. However, they can
implement proactive actions, options to encourage the emergence of innovation projects,
the launch and commercialization of new products, and the implementation of advanced
production technologies to enhance competitiveness [49]. Sustainability orientation has
become a necessity for most enterprises in the post-COVID-19 era. They have had to
adopt a proactive approach to sustainability, implement new strategic alternatives, gain
added value in cloud computing, and attract and nurture young talents, transforming them
into vectors of both strategic and sustainable development. A recent study shows that an
increasing number of SMEs are interested in sustainable development and adopting sustain-
able business models. Market changes, technological innovation, stakeholder influences,
government policies, and relationships with public institutions, as well as openness to

new ideas, mindset change, problem-solving, social exchange, and resource utilization are
key factors increasingly facilitating SMEs’ transition to adopting new sustainable business
models [50].
Sustainability orientation represents a modern approach that involves expanding the
economic dimensions of the enterprise’s activity by incorporating environmental protection
measures and social responsibility. Ref. [51] stated that sustainability orientation entails
adopting a proactive stance toward integrating the best environmental practices and social
actions into the strategic, tactical, and operational activities of the enterprise. Ref. [52]
had shown that the degree of the sustainability orientation of the enterprise can be as-
sessed based on environmental and social strategies and policies, and the organization of
environmental management, as well as communication and problem-solving regarding
environmental and social issues. According to [53], sustainability orientation involves a
triad of interconnected pillars: economic, environmental, and social orientation. Economic
orientation evaluates changes in the enterprise’s performance based on aspects such as the
level of achievement of sustainable economic objectives, the changes and diversification
of factors necessary for value creation, and the level and evolution of productivity and
efficiency. It guides the enterprise in the business environment, influences operational
conditions, and affects the organization’s planning, organization, and control capacity,
necessary for overcoming daily vulnerabilities or those induced by crises [54,55].
Environmental orientation involves a series of different actions and processes on the
part of the enterprise, such as renewing resources and using less harmful substitutable ma-
terials, introducing cutting-edge technologies in the production process and less polluting
processes, reducing water, energy, and gas consumption, recycling waste, and adopting
environmental policies, ethics, and training courses [56,57]. Sustainability orientation
towards the environment also entails integrating environmental considerations into the
overall business strategy and reconfiguring the organizational structure [51], ensuring the
robust management of environmental practices [58], evaluating unsustainable ecological
production operations and technologies [52], or identifying new alternative resources [59].
Ref. [60] stated that social orientation represents a philosophy that includes internal
elements specific to the cultural environment, such as the mission, vision, values, and
beliefs, and structural and organizational domains, and external elements, aligning the
enterprise’s objectives with those of stakeholders. Social sustainability orientation involves
taking on social and ethical responsibilities in business, such as improving living and work-
ing conditions for employees, engaging in activities related to environmental protection,
sponsoring education, arts, and sports, or carrying out philanthropic acts [61]. Over time,
other aspects have come into play, including increasing employment rates, improving labor
relations, ensuring occupational safety, adopting fair work practices, respecting human
rights, protecting consumers, conserving and protecting the environment, developing local
communities, and combating financial fraud or corruption [62].
Overall, sustainability orientation is an organizational capability that enables enter-
prises to undertake risky and innovative initiatives, contributing to gaining long-term
competitive advantages and superior (financial) performance. Empirical studies indicate
that, by applying sustainability orientation, enterprises can gain competitive advantages
such as the creation of innovative ecological products [63], the development of an eco-
logical design to enhance sustainability performance throughout the life cycles of new
products [64], the transition of SMEs to sustainable business models involving the adoption
of the philosophy, values, products, processes, or practices of the circular economy [65],
and the creation and use of practical platforms for the future that allow for the reduction in
natural resource consumption [66].
Possessing a sustainable competitive advantage translates to profitability for the en-
terprise. According to [67], entrepreneurial orientation (EO) provides enterprises with an
alternative to strategic differentiation, making it easier to gain a competitive advantage in
the market. Specialized literature indicates a limited number of empirical studies demon-
strating the impact of EO on business performance. Ref. [51] demonstrated that the adoption
of entrepreneurial and environmental sustainability orientations by SMEs in the Philip-
pines contributes to improving business performance, highlighting the significant impact of
sustainable orientation (SO) on their performance. Analyzing the effects of implementing
sustainability strategies in the production activities of American enterprises, Ref. [53] ob-
served that a sustainability orientation leads to the development of circular and sustainable
products, generating a common and direct impact on environmental performance and,
consequently, business performance. Ref. [67] demonstrated that Ghanaian enterprises
can achieve a higher performance by practicing environmental sustainability orientation.
The effective integration of SO across the entire business process can only be ensured by
achieving sustainability goals and investing in dynamic and relational capabilities that
contribute to enhancing economic, social, and environmental performance [68]. Ref. [69]
showed a positive correlation between SO and business performance, particularly with the
increasing age of SMEs in the market. Ref. [70] demonstrated a significant positive effect of
sustainability orientation and marketing orientation on marketing performance. Moreover,
the same study demonstrates that SO has a strong impact on marketing orientation.
2.3. Technological Orientation (TO)

Globalization has brought radical changes to communications, the economy, and
society. Aspects such as digitization, robotics, the internet of things (IoT), cloud and SaaS,
artificial intelligence (AI), 3D printing, and GPS have altered the way enterprises design,
produce, work, transport, and sell. Globalization has provided SMEs with a series of
opportunities, including the integration of digital technologies, the use of e-commerce, and
access to new expanded markets, but also vulnerabilities, such as information security and
the transfer of business data via personalized email [71].
In this context, technology orientation (TO) becomes a necessary strategic action for
all enterprises in the market, aiming at integrating and using modern technologies in
all dimensions of enterprises operations, both related to products and services, and the
procedures for obtaining them [72]. Ref. [73] defined technology orientation as the capacity
to adopt and use new technologies necessary for the development of environmentally
friendly and energy-efficient innovative products. Ref. [74] argued that enterprises should
increasingly adopt advanced technology to support both the development of new products
and the improvement of existing ones. Technology orientation involves the desire and
commitment to proactively integrate theories and techniques that allow the practical use
of technological knowledge and resources for obtaining new raw materials, integrating
sophisticated technologies during the development of innovative products, facilitating
work and tasks, identifying new target segments, meeting consumer needs, or improving
the quality of life [75–77]. Ref. [78] stated that, to cope with the pace of changes and
renew products, enterprises must modify their strategic approach to customer relationship
orientation, technology orientation, and entrepreneurial orientation, resorting to external
sources of knowledge.
Analyzing the effect of strategic orientation on performance among American and
Japanese enterprises, Ref. [74] demonstrated that, unlike customer orientation and cost
orientation, technology orientation shows a negative effect on short-term profitability due
to the high costs associated with implementing new technologies. Similarly, Ref. [79]
argued that leading IT companies in the United States did not achieve a high financial
performance, although they acknowledge that expanding their IT capacity contributed to
increasing product and service differentiation, as well as revenue and profits. Ref. [80] ruled
out a positive relationship between technology orientation and business performance as
long as enterprises do not expand their research and development activities, fail to develop
employees’ technological capabilities, do not integrate advanced technologies, and do not
use IT tools to better understand current consumer needs.
On the other hand, Ref. [81] recommended Nigerian manufacturing enterprises to be
creative and innovative, and adopt modern production techniques to cope with current
global challenges, demonstrating a strong positive relationship between performance and

technology orientation (TO), as well as between performance and production techniques.
Analyzing the impact of strategic orientation on organizational performance in the Jorda-
nian pharmaceutical sector, Ref. [82] proved a statistically significant relationship between
TO and organizational performance. Other previous studies have indicated similar results,
demonstrating that TO, despite involving risk-taking, leads to the development of innova-
tive products, services, and processes, and the creation of new markets, shaping consumer
behavior, and meeting their evolving needs [83–87].
Ref. [88] observed that improving business performance can be ensured by enhancing
customer and technology orientations, along with customer loyalty. Therefore, SMEs
that quickly adopt customer and technology orientations will succeed in finding efficient
ways to attract loyal customers and enhance their business. Ref. [89] argue that the use of
new technologies such as cloud computing, blockchain technology, machine learning, and
artificial intelligence (AI) has contributed to improving the performance of businesses in
Pakistan, especially those in the software industry. Furthermore, they recommend managers
to focus on technology orientation (TO) and innovation to enhance business performance in
the future. Ref. [90] observed that the use of technological advancements and innovations
in business contributes to improving the performance of SMEs in East Java, Indonesia,
while the impact of TO on market orientation is reduced through technological education.
Analyzing the impact of organizational culture dimensions and proactive marketing
behaviors on business performance, Ref. [91] observed that technology orientation (TO) has
a significant impact on business performance, correlating positively with both proactive
market orientation and market pioneering. Ref. [92], conducting a quantitative study
among Polish providers of technological services, found that organizational culture and
human resources strengthen the relationship between TO and organizational performance,
while weak human resource management diminishes its effect. Ref. [93] demonstrated that
developing the IT adoption capability is crucial for the entrepreneurial, technological, and
marketing orientation of enterprises in Indonesia and Singapore. Moreover, enterprises
that integrate more TO are better able to respond to market challenges and achieve innova-
tive products, leading to higher future performance. Ref. [94] showed that the adoption
of responsive and proactive market orientation and TO by Italian manufacturing firms
contributes to improving performance in terms of sustainable innovation. Ref. [95] demon-
strated that the simultaneous orientation toward technology and customers in Chinese
enterprises generates a significant positive influence on business performance.
2.4. Online SME Business Performance (OBP)

Business performance represents the ability of an enterprise to effectively and effi-
ciently use resources, including online resources, to achieve its strategic objectives. In
practice, managers constantly seek new solutions that contribute to the growth of small-
and medium-sized enterprises’ (SMEs) business performance. Their achievements are
measured using key performance indicators that have experienced continuous dynamics
over time. Some studies have discussed business performance in quantitative terms (prof-
itability, productivity, sales/profit/market share growth, and website-generated traffic)
and qualitative terms (company image, competitive advantage, and customer relation-
ships) [96–99]. Other experts have grouped business performance measurement parameters
into strategic (return on investment, revenues, market share), operational (sales by region,
acquisition cost (CPA), and transportation), functional unit (return on assets, and gross
profit margin), or leading vs. lagging (the index of consumer confidence, average hours
worked, unemployment figures, profits, or interest rates) [100].
Analyzing the effects of circular economy practices on the performance of European
SMEs, Ref. [10] grouped measurement parameters into three categories: economic per-
formance, environmental performance, and social performance. Ref. [101], attempting
to identify the most important strategic performance indicators for Turkish enterprises,
grouped measurement parameters into financial marketing performance (profitability, cash
Analyzing the effects of circular economy practices on the performance of European
SMEs, Ref. [10] grouped measurement parameters into three categories: economic
performance, environmental performance, and social performance. Ref. [101], attempting
to identify the most important strategic performance indicators for Turkish enterprises,
grouped measurement parameters into financial marketing performance (profitability,
cash flow, and sales/market share) and non-financial (brand equity, customer loyalty, and
satisfaction). Online business performances are monitored by IT teams through efficiency
flow, and sales/market share) and non-financial (brand equity, customer loyalty, and sat-
indicators (average service ticket resolution time) and operational indicators (availability
isfaction). Online business performances are monitored by IT teams through efficiency
ofindicators
online applications) [102].
(average service ticket resolution time) and operational indicators (availability
of online applications) [102].
2.5. Research Model and Hypothesis
2.5. Research Model and Hypothesis
Based on the analysis of previous literature and the establishment of research
Basedthe
objectives, on study
the analysis of previous
proposes literature and the establishment
a new multidimensional of research
model (see Figure ob- the
1). Within
jectives, the study proposes a new multidimensional model (see Figure 1). Within the
proposed construct model, EMO, SO, and TO are treated as independent variables, while
proposed construct model, EMO, SO, and TO are treated as independent variables, while
OBP is considered the dependent variable.
OBP is considered the dependent variable.
Research model
Figure1.1.Research
Figure model of
ofthe
thestudy.
study.
In relation to the first objective (Q1), three statistical hypotheses have been formulated:
In relation to the first objective (Q1), three statistical hypotheses have been
formulated:
Hypothesis 1 (H1). E-marketing orientation (EMO) has a positive and significant effect on online
SME business performance (OBP).
Hypothesis 1 (H1). E-marketing orientation (EMO) has a positive and significant effect on online
Hypothesis
SME (H2). Sustainability
business2performance (OBP).orientation (SO) has a positive and significant effect on online
Hypothesis 2 (H2). Sustainability orientation (SO) has a positive and significant effect on online
Hypothesis 3 (H3). Technological orientation (TO) has a positive and significant effect on online
Regarding the second objective (Q2), three additional hypotheses have been formu-
lated as follows:
HypothesisMGA 1 (HMGA 1). There are no significant differences between e-commerce intensity
groups in the construction of e-marketing orientation (EMO) → online SME business perfor-
mance (OBP).
HypothesisMGA 2 (HMGA 2). There are no significant differences between e-commerce intensity
groups in the construction of sustainability orientation (SO) → online SME business perfor-
mance (OBP).
HypothesisMGA 3 (HMGA 3). There are no significant differences between e-commerce Inten-
sity groups in the construction of technology orientation (TO) → online SME business perfor-
mance (OBP).
3. Method
3.1. Materials and Measurement
This study used the online questionnaire as the main tool for collecting data from
Romanian SMEs. In recent years, Romania has become one of the most profitable e-
commerce markets, estimated at around 6.2 billion euros in 2021, or over half of the total
sales in Eastern Europe [103]. The COVID-19 pandemic has had a significant impact on
e-commerce sales [104,105]. By the end of 2022, e-commerce turnover had increased by 13%
compared to 2021, reaching 7 billion euros (Ecommerce-Europe, 2022) [106]. In the first half
of 2023, Romanian online SMEs contributed 3.17% to the GDP, ranking 3rd in Central and
Eastern Europe and 12th across the entire European continent [107]. Therefore, the ongoing
development of the e-commerce market in Romania provides a favorable opportunity to
test the proposed construct model (see Figure 1), and the collected data can contribute to
the current literature on online SMEs.
The questionnaire included 8 information questions and 16 closed-content questions,
allowing managers to select appropriate responses based on their situations. The first
part included demographic information about online SMEs and their representatives. In
the second part, items specific to each latent variable of the proposed construct model
were integrated, in line with the research’s purpose. The online questionnaire link was
distributed to SME managers via email and social networks. The use of these marketing
tools was considered appropriate as it enables easy data collection from the active research
population and aligns with the research’s purpose. The questionnaire was pretested in
a pilot test with a sample of 20 managers, and the results contributed to improving the
formulation and structure of the questionnaire [108]. Subsequently, managers of online
SMEs were requested, via email, to provide consent to participate in the study and complete
the online questionnaire.
3.2. Data Collection

To test the research hypotheses and achieve the set objective, an online survey was
conducted among SMEs operating in the e-commerce market in Romania, from August
to October 2023. Simple random sampling was employed in the research design. From
the www.listafirme.ro (22 August 2024) database, 976 relevant observation units were
randomly selected—Romanian online SMEs that, based on the provided information, align
with the investigated domain. This probabilistic sampling method helps minimize biased
samples and generates reliable survey results. Managers of online SMEs were contacted
via email to seek their participation consent in the study and to distribute and complete the
online questionnaire.
3.3. Measurement Items

We followed [42,48,109,110] and measured e-marketing orientation (EMO) with four
items, taking into account the use of e-marketing resources to communicate with the
target audience (EMO_1), ensure continuity of traditional activities (EMO_2), perform
transactions (EMO_3), and build and use a customer database (EMO_4) necessary for
streamlining the marketing activities of online SMEs. The interest of online SMEs in
sustainability orientation (SO) focused on achieving human resources development goals
(SO_1), achieving economic goals (SO_2), achieving social protection goals (SO_3), and
achieving environmental and climate goals (SO_4), adapted from studies [53,111,112].
Technology orientation (TO) was assessed through specific measurement elements,
such as attracting “future-oriented entrepreneurs” (TO_1), “technological innovation adop-
tion/development and diffusion” (TO_2), training “customer-oriented technicians” (TO_3),
and the integration of “new employee technology orientation” (TO_4), processed accord-
ing to research by [82,92,93,113]. The measurement elements of online SME business
performance (OBP) captured aspects related to e-marketing (non-financial) performance
(OBP_1), financial performance (OBP_2), social and environmental performance (OBP_3),
and technology performance (OBP_4), adapted from various previous studies [113–118].
All 16 items of the model were measured using a seven-point Likert scale, ranging from
1 = “Strongly Disagree” to 7 = “Strongly Agree”. For informational questions, nominal
scales with a single response possibility were used. SPSS 28 was used for data processing
and verification of the collected data.
3.4. Data Analysis

To analyze the data, the construct model, and test the hypotheses, structural equation
modeling with partial least squares (PLS-SEM) and multi-group analysis (PLS-MGA) were
employed. PLS-SEM allows the simultaneous analysis of measurement and structural
models. PLS-SEM is particularly useful in studies involving success factors [119] and
analyses of usage intentions. In this study, this methodological approach is considered
prominent [120,121], with numerous journals publishing review studies on its application
in various disciplines, including information management and marketing [119,122]. PLS-
SEM was chosen to test the proposed research model due to its suitability for explanatory,
predictive, and theoretical applications. Its advantages lie in the ability to analyze complex
models that include diverse latent variables and its suitability for assessing the influence of
exogenous variables on endogenous ones in exploratory studies [119].
As the first objective of this study is to identify the impact of independent variables—
e-marketing orientation (EMO), sustainability orientation (SO), and technology orientation
(TO)—on the dependent variable online SME business performance (OBP), we believe
that PLS-SEM is appropriate for analyzing the construct model. Therefore, previous
marketing studies with similar latent variables were reviewed to analyze the data using
PLS-SEM [42–46,68–70,91–95]. Multi-group analysis (PLS-MGA) was deemed suitable for
examining significant differences between e-commerce intensity groups in the construc-
tions EMO → OBP, SO → OBP, and TO → OBP. It utilizes independent t-test probes to
compare paths between groups and determine if the PLS model significantly differs among
them [123]. Smart PLS 4 software was used for analyzing the collected data from the sample
members [119].
3.5. Respondent Profile

Overall, 976 questionnaires were distributed online to Romanian online SMEs; 37 out
of the 381 collected questionnaires were excluded due to ambiguous, incomplete, or partial
responses. In the end, the sample included 344 valid questionnaires, resulting in a response
rate of 35.24%. Its size was well above the minimum accepted threshold, namely, at least
112 responses (16 items × 7 = 112 responses) [109]. Similar sampling approaches and latent
variable measurement methods in the case of different multidimensional models have been
used in some previous studies [124].
During the analyzed period, online SMEs reported consistent e-commerce activities
for at least three years. Differing in size (micro—18.02%, small—42.15%, and medium—
39.83%), they operate in the manufacturing sector (11.99%), technology (7.60%), and services
(80.41%). The value of transactions resulting from e-commerce usage (e-commerce intensity)
reaches up to 500,000 euros per year for 62.50% of enterprises, while only 6.69% manage
to achieve a turnover exceeding 1.5 million euros per year. The proportion of senior
managers interviewed was 48.70%, and that of CEOs/managing directors (MD)/business
owners reached 28.7%. Among them, 38.08% are women (see Table 2). Most managers
are between 31–50 years old (63.37%), and more than half of the respondents have higher
education (66.57%).
Table 2. Demographic information about online SMEs.
Online SMEs Respondent Online SMEs

Dimensions No. % Dimensions No. %
Enterprise size Respondents’ gender
Micro enterprises 62 18.02 Male 213 61.92
Small enterprises 145 42.15 Female 131 38.08
Medium enterprises 137 39.83 Respondents’ age
Sector Up to 30 years 44 12.79
Manufacturing 41 11.99 Between 31–50 years 218 63.37
Technology 26 7.60 Over 51 years 82 23.84
Services 275 80.41 Respondents’ level of education
Enterprise age Upper Secondary 38 11.05
Between 3–5 years 57 16.57 Post-Secondary School 77 22.38
Between 6–10 years 166 48.26 Bachelor’s 175 50.87
Over 10 years 121 35.17 Master’s/Doctorate 54 15.70
E-commerce Intensity Respondents’ designation
Under 500,000 €/year 215 62.50 CEO/MD/Business Owner 99 28.70
600,000–1.4 mil. €/year 106 30.81 Senior Management 168 48.70
Over 1.5 mil. €/year 23 6.69 Middle-Level Management 78 22.61
Total 344 100 Total 344 100
3.6. Questionnaire Validation: Preliminary Results

The collected data were entered into the SPSS application to verify the accuracy of
the information provided by the enterprises through their representatives and to elimi-
nate any errors. Interactive data validation involves validating the questionnaire after
making the necessary corrections. For the three latent variables, preliminary results (for
156 respondents) showed the following: e-marketing orientation (CA = 0.831, AVE = 0.748),
sustainability orientation (CA = 0.776, AVE = 0.681), and technology orientation (CA = 0.829,
AVE = 0.754). The values of the Cronbach’s alpha (CA) and average variance extracted
(AVE) indicators are above the minimum threshold of 0.6; therefore, the preliminary results
demonstrate the validity of the model [120].
3.7. Common Method Bias

Research indicates that independent and moderating constructs may be susceptible
to possible multicollinearity issues; therefore, for developing appropriate interaction re-
lationships, these constructs should be standardized and mean-centered [125]. To avoid
common method bias (CMB) and inflate the magnitude of the relationships between the
latent variables of the proposed construct model, a collinearity assessment was conducted
following the procedures suggested by [119]. The variance inflation factor (VIF) measures
for all constructs range between 1.160–2.611. Since these values are below 4.0 [126], there
is no evidence of CMB in this research (Table A2). Moreover, all correlations between
constructs present measures smaller than the maximum threshold of 0.9, demonstrating
the avoidance of CMB.
4. Results
4.1. Measurement (Outer) Model Results
The measurement model evaluation was conducted based on composite reliability
(CR), convergent validity—Cronbach’s alpha (CA), average variance extracted (AVE), and
item loadings. Alongside the item loadings, Table 3 presents the results of Cronbach’s alpha
(CA), composite reliability (CR), and average variance extracted (AVE) indicators. The
majority of item loadings range from 0.701 to 0.871, exceeding the intermediate threshold
of 0.70 [119]. An exception is the SO_2 indicator, which shows a loading of 0.564; however,
it is not excluded from the analysis since it surpasses the minimum threshold allowed
for exploratory purposes of 0.50 [126]. The Cronbach’s alpha (CA) coefficients range
from a minimum of 0.795 to a maximum of 0.834, exceeding the conventionally accepted
limit for good scale reliability of 0.70 [119]. The CR indicators fall within the range of
0.753–0.842, surpassing the 0.70 threshold [119]. AVE scores, ranging from 0.627 to 0.669,
were higher than 0.5 [120]. Thus, the measurement model exhibits appropriate consistency,
demonstrating both convergent and divergent validity.
Table 3. Measurement of items loading, CA, CR, and AVE.
Item
Constructs and Items CA CR AVE
Loading
E-marketing orientation (EMO)
EMO_1: My enterprise uses e-marketing resources (e.g., search engine marketing (SEM),
social media marketing, mobile, email, display advertising, etc.) to communicate with the 0.871
target audience.
EMO_2: My enterprise uses e-marketing resources to ensure the continuity of traditional
0.840
activities (e.g., offers, pricing information, customer service, customer support, etc.).
0.834 0.842 0.669
EMO_3: My enterprise uses e-marketing resources to stimulate commercial transactions (e.g.,
0.811
sale of products and services, payment and return system via website, etc.).
EMO_4: My enterprise uses e-marketing resources to streamline marketing activities (e.g.,
manages computerized databases to inform customers about new products, discounts for 0.743
loyal customers, monthly promotions, etc.).
Sustainability orientation (SO)
SO_1: My enterprise supports the achievement of human resources development goals (e.g.,
job creation, health and safety programs, dedicated programs for personal and professional 0.701
development, gender equality, cessation of discrimination against women, etc.).
SO_2: My enterprise contributes to achieving economic objectives (e.g., stimulating product
and process innovation, improving the quality of products and services, expanding 0.564
production and sales markets, etc.). 0.795 0.753 0.650
SO_3: My enterprise supports the achievement of social protection objectives (e.g., supporting
collaboration with local suppliers, engaging with local communities, making local 0.760
investments, paying taxes to local administrations, etc.).
SO_4: My enterprise supports the achievement of environmental and climate objectives (e.g.,
contributing to reducing carbon and water footprint, achieving climate neutrality, recycling 0.784
waste, using green energy sources, protecting biodiversity, etc.).
Technology orientation (TO)
TO_1: My enterprise attracts “future-oriented entrepreneurs” (e.g., adopts and utilizes new
technologies, implements policies and practices related to technology and innovation, pursues
0.828
strategic alignment, develops and exploits technological capabilities for sustainable
competitive advantage, etc.).
TO_2: My enterprise supports “technological innovation adoption/development and
diffusion” (e.g., facilitates the rapid exchange of information and knowledge, expands
0.839
communication and cooperation with suppliers or other stakeholders through the use of 0.826 0.832 0.657
information and communication technology (ICT) tools, etc.).
TO_3: My enterprise trains “customer-oriented technicians” (e.g., meets customer needs with
innovative technology approaches, creates new and innovative products and services that 0.820
address customer desires and needs before they express them, etc.).
TO_4: My enterprise facilitates the integration and/or training of “new employee technology
orientation” (e.g., contributes to improving technical and technological skills to operate easily 0.754
and efficiently with various equipment or technologies they encounter, etc.).
Table 3. Cont.
Item
Constructs and Items CA CR AVE
Loading
Online SME business performance (OBP)
OBP_1: My enterprise has achieved good “e-marketing performance”, reflected in the
improvement of various tools and indicators, such as: website (conversion rates, unique
visitors, bounce rate, visit-to-signup and visit-to-lead rates, share of new visitors, etc.); social
0.817
media (followers or fans or subscribers, audience growth rate, conversion rate from social,
share/interest/response rate, etc.); email marketing and online advertising (customer
satisfaction, customer loyalty, conversion of visits to sales, e-marketing sales value, etc.).
OBP_2: My enterprise has achieved good “financial and customer service performance”,
reflected in the improvement of indicators such as growth in profitability, return on assets,
return on equity, return on investment, net and gross profit margin, as well as customer 0.867
satisfaction, employees’ satisfaction, and the enhancement of the enterprise’s image, product 0.800 0.802 0.627
and service quality, etc.
OBP_3: My enterprise has achieved good “social and environmental performance”, reflected
in the improvement of various means and indicators such as: renewable/recyclable energy
(energy use, and transportation energy intensity), water usage, recycling, waste quality (water 0.770
intensity/pollution/quality/usage), waste utilization, environmental by-products (carbon
footprint/intensity), etc.
OBP_4: My enterprise has achieved good “technology performance” reflected by improving
various indicators such as: network uptime, account termination success, alert-to-ticket ratio,
0.705
customer connection effectiveness, incidents from change, data center capacity consumed,
email client availability, internet proxy performance, etc.
Abbreviations: Cronbach’s alpha (CA); composite reliability (CR); average variance extracted (AVE).
The discriminant validity of the construct model was established based on the Fornell–
Larcker criterion, cross-loadings, SMRM output, and heterotrait–monotrait ratio (HTMT).
Table 4 explains that the square root AVE for the exogenous variable EMO is higher than
its correlations with the other variables (0.818 > 0.693; 0.706; 0.846) [127]. The intentional
loadings of latent variables were higher than 0.7 [128] and cross-loadings should be less
than 0.6 [119] (see Appendix A, Table A1).
Table 4. Discriminant validity of measurement model—based on the Fornell and Larcker criterion.
Items EMO OBP SO TO

EMO 0.818
OBP 0.693 0.792
SO 0.706 0.697 0.707
TO 0.846 0.700 0.718 0.811
Abbreviations: E-marketing orientation (EMO); sustainability orientation (SO); technology orientation (TO); online
Additionally, discriminant validity was examined through the heterotrait–monotrait

ratio (HTMT) [126]. As seen in Table 5, the size of the HTMT coefficients is below the
recommended threshold of 0.80, indicating that the measurement model fits well and meets
the criterion of discriminant validity [119,129].
Table 5. Discriminant validity of measurement model—based on the HTMT ratio.
Items EMO OBP SO TO

EMO
OBP 0.737
SO 0.729 0.710
TO 0.704 0.742 0.725
EMO
OBP 0.737
SO 0.729 0.710
TO 0.704 0.742 0.725
Abbreviations:
J. Theor. Appl. Electron. Commer. Res. 2024, 19 E-marketing orientation (EMO); sustainability orientation (SO); technology
1425
orientation (TO); online SME business performance (OBP).
Figure22illustrates
Figure illustrates
thethe standardized
standardized coefficients
coefficients placed
placed oncorresponding
on the the corresponding
paths inpaths
in the
the multidimensional
multidimensional model. model. Collinearity
Collinearity statisticsstatistics (VIF),
(VIF), model 2
fit model fit ( 𝑅 validity
(R ), criterion ), criterion
validity
(GoF), and(GoF), andcross-validated
construct redundancy (Q2redundancy
construct cross-validated ( 𝑄the) evaluation
) contributed to contributed to the
of the
proposed
evaluationconstruct model [119].
of the proposed construct model [119].
Figure2.2.The
Figure Theresults
resultsofofmultidimensional
multidimensional model.
model.
All
Allanalyzed
analyzedelements
elementspresent
presentvariance
varianceinflation factor
inflation (VIF)
factor coefficients
(VIF) coefficientshigher thanthan
higher
0.25 [120] and lower than 4.00 [126]. Therefore, in the case of the proposed reflective
0.25 [120] and lower than 4.00 [126]. Therefore, in the case of the proposed reflective
measurement
measurementmodel,
model,multicollinearity
multicollinearityis not a problem
is not (see(see
a problem Appendix
AppendixA, Figure A1). A1).
A, Figure
4.2. Structural (Inner) Model Results
The R-square value is 0.582 for the endogenous variable OBP, meaning that 58.2% of
the variation in online SME business performance is explained collectively by the variables
EMO, SO, and TO. Because the proposed construct model includes only three independent
variables, the adjusted R2 is 0.578, which is very close to the unadjusted R2 . In Table 6,
which also illustrates the sizes of the f-square effect, it is observed that the exogenous
variable SO has a greater effect on the endogenous variable OBP than TO and EMO [130].
Achieving an SRMR of 0.074 (<0.80) and a goodness of fit (GoF) of 0.615 once again
demonstrates a good fit of the reflective model [119,131]. Testing the statistical hypotheses
was conducted by examining the structural model and assessing the significance of the
paths between constructs. Using SmartPLS4 software, bootstrapping options were run,
generating the specific values for significance tests (t-value) and their corresponding levels
of probability (p-value). The most significant impact on OBP (β = 0.353, t = 6.381, p = 0.000)
was observed for SO, supporting the null hypothesis H10 . On the other hand, the exogenous
variables EMO (β = 0.231, t = 3.369, p = 0.001) and TO (β = 0.251, t = 3.195, p = 0.001) had a
slightly more moderate but positive and significant influence on the endogenous variable
OBP, confirming the null hypotheses H20 and H30 . As seen in Table 6, all three paths
of the construct model are positive and significant at levels higher than t-value > 1.96 or
p-value > 0.05 [119].
Table 6. Results of the structural model.
Path Hypothesis
Path STDEV t-Value p-Values F-Square
Coeff. Outcome
EMO -> OBP 0.231 0.069 3.369 0.001 0.034 H1 → Accepted
SO -> OBP 0.353 0.055 6.381 0.000 0.134 H2 → Accepted
TO -> OBP 0.251 0.079 3.195 0.001 0.038 H3 → Accepted
SME business performance (OBP); t-value > 1.96; p-value > 0.05 or 0.001.
Path STDEV t-Value p-Values F-Square
Coeff. Outcome
EMO -> OBP 0.231 0.069 3.369 0.001 0.034 H1 → Accepted
SO -> OBP 0.353 0.055 6.381 0.000 0.134 H2 → Accepted
TO -> OBP 0.251 0.079 3.195 0.001 0.038 H3 → Accepted
Abbreviations: E-marketing orientation (EMO); sustainability orientation (SO); technology
orientation (TO); online SME business performance (OBP); t-value > 1.96; p-value > 0.05 or 0.001.
In Figure
Figure3, 3,
three histograms
three can be
histograms visualized,
can illustrating
be visualized, the dispersion
illustrating of estimated
the dispersion of
values between
estimated valuesthe iterations
between EMO → OBP,
the iterations EMOSO →→ OBP,OBP,
SOand→ OBP,
TO → andOBP. → OBP.
TO For instance,
For
histogramhistogram
instance, (b) below (b)
shows,
belowforshows,
the path model
for frommodel
the path SO to from
OBP, SO
a more complex
to OBP, distribution
a more complex
of path loading coefficients, unlike histograms (a) and (c).
distribution of path loading coefficients, unlike histograms (a) and (c).
J. Theor. Appl. Electron. Commer. Res. 2024, 19, FOR PEER REVIEW 19
(a) (b)
(c)
Figure
Figure 3.
3. Path
Path coefficients
coefficients histograms:
histograms: (a)
(a) the
the distribution
distribution of
of path
path loading
loading coefficients
coefficients for
for the
the model’s
model’s
path from
path from EMO
EMO → → OBP; (b) the
OBP; (b) the distribution
distribution of path loading
of path loading coefficients
coefficients for
for the model’s path
the model’s path from
from
SO → OBP; and (c) the distribution of path loading coefficients for the model’s path from TO →
SO → OBP; and (c) the distribution of path loading coefficients for the model’s path from TO → OBP.
OBP.
4.3. Moderating Effects of E-Commerce Intensity
4.3. Moderating Effectsanalysis
PLS multigroup of E-Commerce
(MGA)Intensity
was employed to assess whether there are significant
PLS multigroup
differences within the analysis
proposed(MGA) structuralwasmodelemployed
(PLS) toamongassessthewhether
e-commerce thereinten-
are
significant
sity groupsdifferences
in the paths within
EMO the→ proposed
OBP, SO structural
→ OBP,model and TO (PLS)→ among
OBP. The the sample
e-commercewas
intensity
divided into groups
two in the paths
groups, → OBP, SOintensity—under
EMOe-commerce
namely, → OBP, and TO 500,000 → OBP.€/year
The sample
(EIU) was
and
divided
e-commerce into intensity—over
two groups, namely, 600,000 €/year (EIO),
e-commerce intensity—under
subsequently 500,000 €/year
testing the (EIU) and
relationships
e-commerce
between theirintensity—over
paths. 600,000 €/year (EIO), subsequently testing the relationships
between
Tabletheir paths. the separate path coefficients for the EIU and EIO groups, alongside
7 illustrates
bootstrap
Tableestimated
7 illustrates standard errors,
the separate t-values,
path significance
coefficients p-values,
for the EIU and EIOandgroups,
confidence inter-
alongside
vals. It is observed
bootstrap estimated thatstandard
the path coefficients in the structural
errors, t-values, significance model (interior)
p-values, andareconfidence
higher for
EIU (0.357;It0.274;
intervals. 0.186) compared
is observed to EIO
that the path (0.018; 0.476;
coefficients 0.371).
in the In Tablemodel
structural A2, the(interior)
overlapping are
confidence
higher intervals
for EIU (0.357;for0.274;
the paths
0.186) → OBP (EIU,
SOcompared ranging
to EIO from
(0.018; 0.141
0.476; lowerIntoTable
0.371). 0.396A2,
higher;
the
and EIO, ranging
overlapping from intervals
confidence 0.287 lower for to
the0.646 SO → OBP
pathshigher) can be observed.
(EIU, ranging Additionally,
from 0.141 lower the
confidence intervals for the path from TO to OBP overlap (EIU,
to 0.396 higher; and EIO, ranging from 0.287 lower to 0.646 higher) can be observed. ranging from − 0.015 lower
to 0.363 higher;
Additionally, theand EIO, ranging
confidence fromfor
intervals 0.104 lowerfrom
the path to 0.620
TO tohigher). In both(EIU,
OBP overlap casesranging
above,
null hypotheses
from −0.015 lowerMGA H 2
to 0.3630 and H
higher; 3 are accepted (p-value < 0.05 or 0.001).
MGAand EIO, ranging from 0.104 lower to 0.620 higher). However, there
In
is a clear
both casesdifference
above, null in path coefficients
hypotheses H between
2₀ and Hthe samples EIU and(p-value
3 are accepted EIO for <the0.05path
or
from EMO
0.001). to OBP.there
However, The confidence intervals no
is a clear difference longer
in path overlap inbetween
coefficients the case ofthethe EIO group,
samples EIU
which means that, at the significance level of 0.05, the null hypothesis
and EIO for the path from EMO to OBP. The confidence intervals no longer overlap in the is rejected, and the
alternative hypothesis H 1 is accepted.
case of the EIO group, which means that, at the significance level of 0.05, the null
MGA 1
hypothesis is rejected, and the alternative hypothesis H 1₁ is accepted.
Table 7. Results of PLS -MGA.
Path Hypothesis
Path STDEV t-Value p-Values
Coeff. Outcome
E-commerce intensity—under 500,000 €/year (EIU)
Table 7. Results of PLS-MGA.
Path Hypothesis
Coeff. Outcome
E-commerce intensity—under 500,000 €/year (EIU)
EMO → OBP 0.357 0.084 4.259 0.000 HMGA 1 → Accepted
SO → OBP 0.274 0.065 4.200 0.000 HMGA 2 → Accepted
TO → OBP 0.186 0.117 2.022 0.002 HMGA 3 → Accepted
Path Hypothesis
Coeff. Outcome
E-commerce intensity—over 600,000 €/year (EIO)
EMO → OBP 0.018 0.111 0.166 0.868 HMGA 1 → Unaccepted
SO → OBP 0.476 0.091 5.203 0.000 HMGA 2 → Accepted
TO → OBP 0.371 0.135 2.752 0.006 HMGA 3 → Accepted
SME business performance (OBP); t-value > 1.96; p-value > 0.05 or 0.001.
The difference between the path coefficients EIU vs. EIO was subjected to three
tests, which implicitly utilize the significance level of 0.05 [132]. The non-parametric
PLS-MGA significance test indicates that there is a significant difference in the case of
“e-commerce intensity” for the specific path EMO → OBP, with a p-value less than 0.05
(p-value new = 0.016 < 0.05). The situation proves to be similar in the case of the other
two tests (Parametric Test: p-value new = 0.015 < 0.05; and Welch–Satterthwait Test: p-palue
new = 0.016 < 0.05). However, there is no significant difference regarding “e-commerce
intensity” for the difference in path coefficients SO → OBP and TO → OBP, as indicated by
all p-value columns in Table 8.
Table 8. Differences between groups e-commerce intensity under 500,000 €/year (EIU) and e-
commerce intensity over 600,000 €/year (EIO).
PLS-MGA Parametric Test Welch–Satterthwait Test

Path
E-Commerce Intensity
Coefficients –
Under 500,000 €/Year (EIU)–Over 600,000 €/Year (EIO)
Difference
(EIU-EIO) p-Value New t-Value p-Value New t-Value p-Value New
(EIU vs. EIO) (EIU vs. EIO) (EIU vs. EIO) (EIU vs. EIO) (EIU vs. EIO)
HMGA 1 EMO → OBP 0.339 0.016 2.440 0.015 2.439 0.016
HMGA 2 SO → OBP −0.202 0.074 1.830 0.068 1.802 0.074
HMGA 3 TO → OBP −0.185 0.264 1.132 0.258 1.118 0.265
SME business performance (OBP); t-value > 1.96; p-value > 0.05.
To compare the groups, the permutation algorithm was used (MICOM). The measure-
ment invariance assessment (MICOM) was used to measure significant differences between
groups due to other intergroup modifications in constructions [133]. The results of the
permutation algorithm (5000 permutations) confirm that there is a significant difference
between the groups of EIU and EIO for the path EMO → OBP in the structural model
(interior), as the permutation p-value is below the accepted threshold of 0.05 (EMO → OBP
has a permutation p-value of 0.020) [126]. Since the permutation p-values for the paths
SO → OBP (0.085) and TO → OBP (0.268) are greater than 0.05, it can be concluded that
there is no significant difference between the two groups (EIU and EIO) for these specific
paths in the structural model (see Table 9).
Table 9. Results of the structural model.
Path Path Path Permutation

Permutation
Path Coeff. Coeff. Coeff. Mean 2.5% 97.5%
p-Value
(EIU) (EIO) Difference (EIU-EIO) Difference
EMO → OBP 0.357 0.018 0.339 −0.004 −0.284 0.274 0.020
SO → OBP 0.274 0.476 −0.202 −0.004 −0.234 0.224 0.085
TO → OBP 0.186 0.371 −0.185 0.006 −0.320 0.336 0.268
SME business performance (OBP); p-value > 0.05 or 0.001.
In Figure 4, the permutation process is illustrated through the three histograms for the
paths EMO → OBP, SO → OBP, and TO → OBP. The results of the compositional invariance
assessment (see Figure 3 and Appendix A—Table A3) showed that the 5% quartile was
J. Theor. Appl. Electron. Commer. Res. 2024, 19, FOR PEER REVIEW 21
smaller than the original correlation (c) for the four constructs of the proposed model (EMO,
0.999 < 0.997; OBP, 0.999 < 0.997; SO, 0.998 < 0.986; TO, 0.998 < 0.997). Since the permutation
p-values were greater than 0.05, it follows that all correlations are nonsignificant (EMO,
0.448 >> 0.05;
0.160 OBP,
0.05). 0.433 >these
Meeting 0.05; SO, 0.800 the
criteria, > 0.05; TO, 0.160
results > 0.05). Meeting
of MICOM Step 2 these criteria,
demonstrate
the results of MICOM
compositional Step 2 demonstrate compositional invariance.
invariance.
(a) (b) (c)

Figure
Figure 4.
4. Permutation
Permutationsample
sampleresults
results for
forpath
pathcoefficients
coefficients of
of the
the structural
structural model:
model: (a)
(a)distribution
distribution of
of
path
path coefficients
coefficients after
after the
the permutation
permutation process
process for EMO →
for EMO → OBP;
OBP; (b)
(b)distribution
distribution of
of path
path coefficients
coefficients
after the permutation process for SO → OBP; and (c) distribution of path coefficients after the
after the permutation process for SO → OBP; and (c) distribution of path coefficients after the
permutation process for TO → OBP.
permutation process for TO → OBP.
MICOM
MICOM histograms
histograms for for the
the four
four latent
latent variables
variables ofofthe
thestructural
structuralmodel
modelare arepresented
presented
in Figure 5.5.Scalar
in Figure Scalarinvariance
invariance (equality
(equality of composite
of composite meansmeans and variances)
and variances) (Step 3)(Step 3) is
is shown
shown in Appendix A, Table A4. Initial differences between the mean
in Appendix A, Table A4. Initial differences between the mean values of latent variable values of latent
variable
scores were scores werethe
within within
lowerthe lower
(2.5%) and(2.5%)
upper and upperlimits.
(97.5%) (97.5%)
Forlimits. For for
instance, instance,
EMO, for the
EMO, the initial difference of 0.055 is included in the interval [−0.210;
initial difference of 0.055 is included in the interval [−0.210; 0.239]. A similar situation 0.239]. A similar is
situation
observed is forobserved
the otherfor the other
variables (OBP,variables
0.089 ⊂ (OBP,
[−0.220;0.089 ⊂ [−0.220;
0.214]; 0.214];
SO, −0.003 ⊂ [− SO, −0.003
0.209; ⊂
0.222];
[−0.209;
TO, 0.045 0.222];
⊂ [−TO, 0.045
0.230; ⊂ [−0.230;
0.230]). 0.230]). The permutation
The permutation p-value testsp-value tests for intergroup
for intergroup differences
differences
in means were in means
greaterwere
thangreater
0.05 forthan
each0.05 for each
internal internal
model model construction
construction (0.419, 0.626,(0.419,
0.660,
0.626,
0.976 >0.660, 0.976 > 0.05).
0.05). Additionally, the Additionally, the permutation
permutation p-values for intergroup p-values for in
differences intergroup
variances
differences in variances
for all internal for all internalwere
model constructions model constructions
also were also of
above the threshold above
0.05the threshold
(0.388, 0.495,
of 0.05 (0.388, 0.495, 0.657, 0.814 > 0.05). Considering the above results,
0.657, 0.814 > 0.05). Considering the above results, we can assert that there is complete we can assert that
there is complete
measurement measurement
invariance invariance [126,133].
[126,133].
Finally, the results of the PLS-MGA analysis have shown that there is a significant dif-
ference between EIU and EIO due to the modification between groups in the EMO → OBP
construction. For the SO → OBP and TO → OBP constructions, the PLS-MGA analysis
does not indicate a significant difference between the analyzed groups.
(a) (b)
[−0.209; 0.222]; TO, 0.045 ⊂ [−0.230; 0.230]). The permutation p-value tests for intergroup
differences in means were greater than 0.05 for each internal model construction (0.419,
0.626, 0.660, 0.976 > 0.05). Additionally, the permutation p-values for intergroup
differences in variances for all internal model constructions were also above the threshold
of 2024,
J. Theor. Appl. Electron. Commer. Res. 0.0519(0.388, 0.495, 0.657, 0.814 > 0.05). Considering the above results, we can assert
1429 that
there is complete measurement invariance [126,133].
(a) (b)
(c) (d)
Figure 5. MICOM
Figure 5. MICOMhistograms:
histograms: (a)
(a) for EMO;(b)
for EMO; (b)for
forSO;
SO;(c)(c)
forfor
TO;TO;
andand (d)OBP.
(d) for for OBP.
5. Discussion
This study highlights some important findings. First, the results of this study show
that EMO has a strong influence on OBP. The research results suggest that EMO ranks
third among the three dimensions that significantly influence OBP. It seems that SMEs
increasingly use e-marketing resources to achieve specific objectives, such as rapid and
appropriate communication with the public, ensuring the continuity of traditional activities,
stimulating commercial transactions, and conducting marketing activities as efficiently
as possible.
Second, this study assessed the impact of SO on OBP. The results reveal that SMEs
continuously develop partnerships with local suppliers and public institutions for the
administration and financing of action plans related to social services and the achievement
of social protection objectives. It seems that enterprises are increasingly concerned with
the development of sustainability plans that include specific goals such as: job creation,
the implementation of programs for personal and professional development, greening
the enterprise, stimulating product and process innovation, expanding production and
distribution markets, and others.
The effect of SO on OBP is the strongest compared to the other two variables. One
possible reason could be that SMEs have observed that, following the implementation of
sustainability plans, they achieve higher financial gains than the resources allocated for
sustainable investments. This finding is consistent with [69,134,135], where enterprises not
only perceive the social importance of sustainable business activities intensely but also
demonstrate an increased interest in implementing sustainability plans.
Third, unlike previous studies [95,136], it is demonstrated that TO, following SO, has
a strong positive impact on OBP. It is observed that enterprises are becoming interested
in implementing technology and innovation policies and practices. Furthermore, they
are developing comprehensive plans that include expanding and renewing advanced
technological capabilities to gain competitive advantages, reducing pollution, enhancing
communication and collaboration with technology providers and stakeholders, integrating
new technologies for visibility, boosting sales, improving customer relationships, and
implicitly developing technical and technological skills among employees, contributing to

increased productivity and efficiency.
The proposed structural model is valid and robust, as demonstrated by the study
results. With an R-square value of 0.582, it indicates that over half of the variance in the
dependent variable online SME business performance is explained by the joint action
of the independent variables EMO, SO, and TO. The values of the adjusted R-square
(0.578) and GoF (0.615) further confirm that the proposed structural model is solid and
strong. The existing literature does not highlight studies examining the common effect of
exogenous variables EMO, SO, and TO on OBP. This study addresses this gap and proposes
a new, unique model that may become more complex in the future by including other
latent variables. All the results obtained in the study have been discussed solely from the
perspective of research objectives, statistical hypotheses, and conducted tests.
5.1. Theoretical Implications

The study results show that all three correlations are significantly positive. The
strongest effect on the endogenous variable OBP (β = 0.353, t = 6.381, p = 0.000) was exerted
by the exogenous variable SO; therefore, the null hypothesis H10 was accepted. Although
the slightly more moderate impact of the independent variables EMO (β = 0.231, t = 3.369,
p = 0.001) and TO (β = 0.251, t = 3.195, p = 0.001) on the dependent variable OBP was close
in intensity, it was still positive and significant. In this context, null hypotheses H20 and
H30 . were accepted. Therefore, all three paths of the structural model are positive and
significant at levels above the accepted thresholds of t-value > 1.96 or p-value > 0.05 [119].
A multigroup PLS-MGA analysis was conducted between the e-commerce intensity
groups—under 500,000 €/year (EIU) and e-commerce intensity—over 600,000 €/year
(EIO) to test, based on the proposed structural model, that there are differences in the
paths created by the proposed and measured variables. The results indicate smaller path
coefficients in the structural model (interior) for EIO compared to EIU. Confidence intervals
overlap for the paths SO → OBP and TO → OBP; therefore, null hypotheses HMGA 20 and
HMGA 30 are accepted. The only difference arises in the correlation between EMO → OBP.
In the case of the EIO sample, confidence intervals do not overlap, so, at a significance level
of 0.05, the null hypothesis HMGA 10 is rejected, and the alternative hypothesis HMGA 11 is
accepted. Additionally, the results of the PLS-MGA analyses, parametric test, and Welch–
Satterthwait test indicate that there is only one significant difference in the EIO sample for
the correlation path EMO → OBP.
Although enterprises continuously aim to maximize results and establish mutually
beneficial relationships with market participants, the exploration of the three dimensions
EMO, SO, and TO and their effect on OBP has been separately investigated [69,134,135].
This study responds to research demands by identifying items and deepening the un-
derstanding of factors contributing to the growth of the online business performance of
Romanian SMEs, evaluating their common impact. In this context, the study provides
several theoretical implications.
Primarily, it extends the existing marketing research literature by developing a new
comprehensive multi-structural reflective model, enabling the highlighting of the extent
of online SME business performance (OBP) changes under the joint action of EMO, SO,
and TO factors. Our findings emphasize the importance and necessity of integrating EMO
at the enterprise level to attract new businesses or expand existing ones; create, produce,
and sell quality products and services; reduce production and distribution costs; and meet
current and future consumer needs.
Second, the identification of new items and the measurement of the EMO variable
contribute to the digital marketing literature and suggest that enterprises efficiently use
e-marketing resources to communicate more easily with their target audience, ensure
the continuity of traditional activities, stimulate the improvement of commercial transac-
tions, and expand future marketing activities. Exploring how enterprises leverage their
e-marketing resources to implement e-marketing strategies contributes to the resource-
based view (RBV) theory, emphasizing the role of resources in gaining a sustainable
competitive advantage. Ref. [137] argues that an enterprise’s sustained competitive advan-
tage focuses on its resources, which are rare, valuable, inimitable, and non-substitutable.
Enterprises with the ability to create or attract these e-marketing resources enjoy high
performance and competitiveness compared to their competitors. Previous studies have
focused on analyzing the change process for sustainability and the challenges faced by
most enterprises [138]. Many studies have not considered the importance of sustainability
goals [53,138,139]. This study addresses this gap by highlighting their essential role in
guiding enterprises toward achieving ecological, social, and economic sustainability. These
goals serve as a roadmap, setting clear objectives and directions for the integration of
sustainable practices into various aspects of operations.
Third, by assessing the items of the SO variable, this contributes to expanding the liter-
ature on sustainability. Examining the extent to which enterprises support the achievement
of human, economic, social, environmental, and climate development goals allows the iden-
tification of measurable elements against which their performance can be evaluated. The
hypothesis underlying SO is rooted in the belief that enterprises should operate in a manner
that considers the long-term impact of their actions on society, the environment, and the
economy. This study highlights that, in addition to simply complying with regulations
and profitability goals, enterprises should adopt a proactive commitment to addressing
sustainability challenges and creating long-term value for multiple stakeholders.
Fourth, this study extends the literature on TO by integrating and evaluating new
items specific to the variable, while also suggesting that enterprises attract “future-oriented
entrepreneurs”, support “technological innovation adoption/development and diffusion”,
train “customer-oriented technicians”, and facilitate the integration of “new employee
technology orientation” to enhance long-term performance. Our findings highlight that a
technology-oriented approach positively and significantly impacts customer loyalty [88],
helps reduce salesperson role ambiguity [140], contributes to gaining a competitive ad-
vantage [141], serves as a catalyst for innovation [142], and contributes to overall business
performance improvement [93]. The study results emphasize that SMEs should strate-
gically and proactively embrace and leverage technological advancements to enhance
operational efficiency, support innovation, gain a competitive advantage, and achieve
overall business success.
Fifth, the study aims to contribute to existing literature by disaggregating business
performance into four distinct categories: e-marketing performance, financial and con-
sumer performance, social and environmental performance, and technology performance.
Integrating these orientations provides a holistic approach to online business, ensuring that
marketing strategies are not only technologically advanced but also socially conscious and
customer centric. Through integrated strategies, enterprises can offer customers a more
consistent and personalized experience, building stronger relationships and loyalty. More-
over, enterprises that efficiently integrate these orientations gain a competitive advantage
by leveraging technology, data-driven insights, social engagement, and targeted marketing
strategies to stimulate growth and adapt to market changes.
5.2. Managerial Implications

This study provides significant implications for Romanian online SMEs to continue
integrating e-marketing orientation. The study results demonstrate that managers give
the highest priority to using e-marketing resources to ensure communication with the
target audience (EMO_1). High importance is attributed to resources needed for ensuring
the continuity of traditional activities (EMO_2) and stimulating commercial transactions
(EMO_3). Resources allocated to the efficiency of marketing activities (EMO_4) receive
slightly moderate attention. The outcomes derived from the analysis of the EMO vari-
able provide Romanian online SMEs with the opportunity to enhance the efficiency of
e-marketing resource utilization for strategic development, customer focus, and overall
business performance maximization. For example, managers could develop targeted
marketing strategies, leveraging digital channels to reach specific audiences based on

data-driven perspectives and segmentation. Focusing on e-marketing involves person-
alized interactions, tailoring messages and offers to individual customer preferences for
increased engagement. Managers of online SMEs should carefully oversee the creation
of digital content and campaign management, ensuring consistent messaging and brand
representation across various online platforms. The efficient allocation of resources for the
adoption and integration of digital tools, marketing automation, and analytics platforms
can be crucial for the enterprise’s e-marketing strategies. Analyzing relevant indicators
could enable managers of Romanian SMEs to measure the success of e-marketing initiatives
and identify areas for improvement.
Managers of SMEs in Romania prioritize, above all, the achievement of environmen-
tal and climate goals (SO_4). This is reflected in their commitment to sustainability and
responsible business practices. Managers agree that, by reducing the carbon and water
footprint, achieving climate neutrality, recycling waste, using green energy sources, and
protecting biodiversity, their enterprise contributes to environmental improvement. The
second priority was given to social protection goals (SO_3). The surge in prices in recent
years, ecological erosion, substandard food consumption, and the spread of infections
such as COVID-19 are factors driving SME managers to develop collaborations with local
suppliers and communities for the implementation of local social protection plans. Third,
managers support the achievement of human resources development goals (SO_1). The in-
tegration of human resources plans and programs often leads to job creation, the promotion
of health and safety at work, personal and professional development, support for gender
equality, the cessation of discrimination against women, and others, contributing overall to
improving the performance of online SMEs. Finally, managers confirm the importance of
achieving economic objectives (SO_2). Without stimulating product and process innovation,
improving the quality of products and services, expanding production and market channels,
among other aspects, enterprises will not be able to maximize future business performance.
For example, managers should incorporate sustainability goals into long-term strategic
planning, ensuring that business decisions consider the social and environmental impact.
Efforts should then be made to engage stakeholders (customers, employees, suppliers,
and local communities) in communicating sustainability efforts, collecting feedback, and
aligning interests toward sustainable practices. Additionally, managers should involve
employees in sustainability initiatives, encouraging participation and fostering a sense of
responsibility for sustainable practices. The need to establish sustainability metrics and
benchmarks should not be overlooked, allowing for the measurement of progress and the
continuous improvement of sustainability goals.
The research results demonstrate that managers strongly support “technological inno-
vation adoption/development and diffusion” (TO_2). The rapid exchange of information
and knowledge, expanding communication and co-operation with suppliers and other
stakeholders regarding ICT usage, are high-priority activities for Romanian online SMEs.
Supporting “future-oriented entrepreneurs” (TO_1) is another aspect highly appreciated
by managers. The adoption and use of new technologies, strategic alignment through the
implementation of technology and innovation policies and practices, and the development
and exploitation of technological capabilities for sustainable competitive advantage are
constant concerns of Romanian managers. The reduction in the birth rate, the intensification
of migration, and the shortage of qualified and specialized workforce prompt Romanian
managers to facilitate the integration and/or training of “new employee technology orien-
tation” (TO_4).
Managers agree that only by improving the technical and technological skills of the
human resources can the capacity to operate the enterprise’s equipment or technologies
easily, quickly, and efficiently be enhanced. For example, managers should develop com-
prehensive digital transformation strategies aligned with business objectives, focusing
on how technology can drive innovation and efficiency. Ensuring a robust technological
infrastructure (hardware, software, and network systems) to support the enterprises’ oper-
ations and future scalability should be a priority for managers. The continuous analysis of
technology-related indicators could enable managers to assess the impact of technology
investments on online SME business performance. Furthermore, leveraging technology
for innovation and efficiency can strategically position SMEs in the market, providing
customers with unique technological capabilities.
5.3. Implications for Environmental Decision Makers

The integration of the three orientations at the level of online SMEs in Romania also has
implications for environmental decision-makers, such as government organizations and reg-
ulators, non-governmental organizations, and corporate and business leaders. Regarding
e-marketing orientation (EMO), government organizations and regulators should simplify
and improve the regulatory framework for SMEs, encourage the application of practices
and the use of e-marketing tools for communication with the target audience (EMO_1),
and contribute to raising awareness about product quality, environmental regulations, and
sustainability programs (EMO_4). Businesses should benefit from incentives for adopting
new e-marketing technologies, such as integrating digital customer service, and participate
in entrepreneurial programs that include the adoption of sustainable e-marketing practices
(EMO_2). Government organizations could improve SMEs’ access to financing and online
platforms to stimulate commercial transactions (EMO_3). Non-governmental organizations
(NGOs) should collaborate with businesses to educate consumers about product quality
and sustainable choices, as well as to raise funds online for the development of social
and environmental projects. On the other hand, businesses in partnership with corporate
and business leaders should analyze data to understand consumer needs and preferences,
create innovative products, offer carbon-neutral transportation options, ensure sustainable
packaging, and issue digital invoices and receipts.
Regarding sustainability orientation (SO), government organizations and regulators
should provide funding to SMEs that invest in health and safety programs, personal
and professional development for their employees, gender equality initiatives, and anti-
discrimination policies (SO_1). To promote economic objectives (SO_2), they could offer
innovation grants and subsidies to SMEs engaged in the development of sustainable prod-
ucts and services, as well as assistance in entering markets with sustainable products. To
achieve social protection objectives (SO_3), government organizations should offer tax
benefits to businesses that collaborate with local suppliers, invest in the local commu-
nity, and contribute to the Romanian economy. Achieving environmental and climate
objectives (SO_4) requires renewed involvement from government organizations through
programs that incentivize businesses to achieve climate neutrality and protect biodiversity.
Non-governmental organizations (NGOs) should partner with SMEs to run sustainability
programs aimed at establishing strategic objectives, transforming business models, im-
proving education and working conditions, reducing environmental impact, and more.
Corporate and business leaders should collaborate with SMEs to develop eco-friendly
products, expand into new markets by leveraging eco-certifications and labels, and meet
sustainability standards and customer expectations.
Considering technology orientation (TO), government organizations and regulators
should support “future-oriented entrepreneurs” (TO_1) by publishing regulations that en-
courage technological innovation and developing innovation hubs (innovation centers and
technology parks). They should facilitate “technological innovation adoption/development
and diffusion” (TO_2) by developing an information and communication technology (ICT)
infrastructure for the rapid exchange of information and knowledge, and by creating plat-
forms that promote collaboration between businesses, suppliers, and other stakeholders
on sustainability initiatives. Additionally, government organizations should support all
SMEs interested in training “customer-oriented technicians” (TO_3) by developing educa-
tional and vocational training programs on using emerging technologies, and certification
programs that emphasize customer-oriented technological approaches and sustainability.
To facilitate the integration and/or training of “new employee technology orientation”
(TO_4), government organizations could offer grants and subsidies to SMEs that invest
in developing technical and technological skills for new employees and develop online
learning platforms that provide accessible and continuous training on new technologies.
Non-governmental organizations (NGOs) could create support networks and forums where
future-oriented entrepreneurs can connect, share ideas, and collaborate on sustainability
projects. SMEs, in partnership with corporate and business leaders, should implement
onboarding programs that familiarize new employees with the latest technologies and
sustainable practices.
The study results demonstrate that online SMEs enjoy strong “financial and customer
service performance” (OBP_1), followed by robust “e-marketing performance” (OBP_2).
On the other hand, “social and environmental performance” (OBP_3) and “technology
performance” (OBP_4) record positive yet slightly moderate results.
6. Limitations and Future Research Directions

This study involves several limitations that could provide new perspectives on future
research directions. First, this cross-sectional study was conducted among SMEs in Roma-
nia, limiting the generalizability of the analysis. Future studies could include longitudinal
research and broader samples of enterprises from different countries, contributing even
more to the generalizability of the results.
Second, the questionnaire used in the research has a high degree of structure, contribut-
ing to limiting the level of detail in respondents’ answers and the lack of diversity in the
scales used for questions. Third, the proposed structural model included only four latent
variables. Future research should expand the construct model by including latent variables
such as market orientation, sales orientation, product orientation, societal orientation, etc.,
and by extending the scope of activities, thereby enhancing its applicability. This would
contribute to understanding how SMEs, on one hand, use resources, and organize produc-
tion and sales, and, on the other hand, monitor the long-term impact of their processes,
products, and marketing on society and the environment.
Fourth, the moderating effect of factors on the correlation paths between variables was
not studied. Other research could include various moderators (e.g., size of enterprise, the
company’s age on the market, sector of activity, volume of sales, etc.) and conduct analyses
that demonstrate different perspectives on the findings.
Finally, this study focused on the positive aspects generated by EMO, SO, and TO.
Some studies should explore potential challenges and negative aspects that enterprises
may face upon their integration, namely, inundating consumers with excessive information,
leading to information overload and fatigue; the rapid spread of negative feedback in the
public domain that could damage brand reputation; and cyber threats that could disrupt
operations, affecting customer experience and business continuity.
Funding: This research received no external funding.

Institutional Review Board Statement: This study does not require ethical approval.
Informed Consent Statement: Not applicable.
Data Availability Statement: The original contributions presented in the study are included in the
article, further inquiries can be directed to the corresponding author.
Conflicts of Interest: The author declares no conflict of interest.
Appendix A
Table A1. Results of intended factors and cross-loadings.
Items EMO OBP SO TO

J. Theor. Appl. Electron. Commer. Res. 2024, 19, FOR PEER REVIEW
EMO_1 0.871 0.637 0.635 0.828 28
EMO_2 0.840 0.571 0.557 0.645
EMO_3 0.811 0.536 0.561 0.625
EMO_4 0.743 0.513 0.552 0.652
OBP_4
OBP_1 0.569
0.564 0.705
0.817 0.601
0.524 0.659
0.564
OBP_2
SO_1 0.569
0.506 0.867
0.378 0.584
0.701 0.527
0.542
OBP_3 0.468 0.770 0.470 0.428
SO_2 0.400 0.240 0.764 0.388
OBP_4 0.569 0.705 0.601 0.659
SO_3
SO_1 0.555
0.506 0.453
0.378 0.760
0.701 0.564
0.542
SO_4
SO_2 0.535
0.400 0.706
0.240 0.784
0.764 0.536
0.388
SO_3
TO_1 0.555
0.871 0.453
0.637 0.760
0.635 0.564
0.828
SO_4
TO_2 0.535
0.616 0.706
0.566 0.784
0.580 0.536
0.839
TO_1 0.871 0.637 0.635 0.828
TO_3
TO_2
0.654
0.616
0.539
0.566
0.581
0.580
0.820
0.839
TO_4
TO_3 0.570
0.654 0.518
0.539 0.524
0.581 0.754
0.820
Abbreviations:
TO_4 E-marketing 0.570 orientation (EMO); 0.518sustainability orientation
0.524 (SO); technology
0.754
orientation (TO);
Abbreviations: online SME
E-marketing business
orientation performance
(EMO); (OBP).
sustainability orientation (SO); technology orientation (TO); online
Table A2. Confidence intervals (bias corrected).
Table A2. Confidence intervals (bias corrected).
Path 2.5% (EIU) 97.5% (EIU) 2.5% (EIO) 97.5% (EIO)
EMOPath
-> OBP 2.5% (EIU)
0.197 97.5%
0.525(EIU) 2.5% (EIO)
−0.202 97.5%
0.232 (EIO)
SO
EMO->->
OBP
OBP 0.141
0.197 0.396
0.525 0.287
−0.202 0.646
0.232
SO -> OBP
TO -> OBP 0.141
−0.015 0.396
0.363 0.287
0.104 0.646
0.620
TO -> OBPE-marketing−0.015
Abbreviations: orientation (EMO); 0.363 0.104
sustainability orientation 0.620
(SO); technology
orientation (TO); online SME business performance (OBP); e-commerce Intensity—under(TO);
Abbreviations: E-marketing orientation (EMO); sustainability orientation (SO); technology orientation online
500,000
SME business performance (OBP); e-commerce Intensity—under 500,000 €/year (EIU); e-commerce Intensity—
€/year (EIU); e-commerce Intensity—over 600,000 €/year (EIO).
over 600,000 €/year (EIO).
Figure A1. Variance Inflation Factor (VIF)–Coefficients.
Table A3. Results permutation algorithm (MICOM), Step 2.

Figure A1. Variance Inflation Factor (VIF)–Coefficients.
Original Correlation Permutation Permutation
Table A3. Results permutation algorithm (MICOM), Step 2. 5%
Correlation Mean p-Values
EMO Original
0.999 Correlation Permutation
0.999 0.997 Permutation
0.448
OBP 0.999 0.999 5%
0.997 0.433
Correlation Mean p-Values
SO 0.998 0.995 0.986 0.800
EMOTO 0.999
0.998
0.999
0.999
0.997
0.997
0.448
0.160
OBP
Abbreviations: 0.999orientation (EMO); sustainability
E-marketing 0.999 orientation (SO);0.997 0.433(TO); online
technology orientation
SObusiness performance
SME 0.998(OBP); e-commerce intensity—under
0.995 500,000 €/year
0.986 0.800 intensity—
(EIU); e-commerce
over 600,000 €/year (EIO).
TO 0.998 0.999 0.997 0.160
Abbreviations: E-marketing orientation (EMO); sustainability orientation (SO); technology
orientation (TO); online SME business performance (OBP); e-commerce intensity—under 500,000
€/year (EIU); e-commerce intensity—over 600,000 €/year (EIO).
Table A4. Results permutation algorithm (MICOM), Step 3—mean and variance.
Mean Variance
Mean– Permutation Permutation Variance- Permutation Permutation
Original Mean 2.5% 97.5% p-Value Original Mean 2.5% 97.5% p-Value
Correlation Difference Correlation Difference
EMO 0.055 0.005 −0.210 0.239 0.626 −0.031 0.007 −0.275 0.271 0.814
OBP 0.089 0.004 −0.220 0.214 0.419 0.156 0.008 −0.321 0.364 0.388
SO −0.003 0.007 −0.209 0.222 0.976 −0.070 0.011 −0.306 0.329 0.657
TO 0.045 0.003 −0.230 0.230 0.660 −0.106 0.006 −0.274 0.276 0.495
SME business performance (OBP); e-commerce intensity–under 500,000 €/year (EIU); e-commerce intensity—over
600,000 €/year (EIO).
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Article

Driving Success: Unveiling the Synergy of E-Marketing,

Faculty of Marketing, Bucharest University of Economic Studies, 010374 Bucharest, Romania;

Keywords: e-marketing orientation; sustainability orientation; technology orientation; business

Citation: Türkes, , M.C. Driving

Table 1. Research objects.

The following section provides a review of relevant literature, frames hypotheses

2. Literature Review and Hypothesis Development

2.1. E-Marketing Orientation (EMO)

tion; market segmentation, specialization, and distinct positioning; a better organization

2.2. Sustainability Orientation (SO)

government policies, and relationships with public institutions, as well as openness to

2.3. Technological Orientation (TO)

global challenges, demonstrating a strong positive relationship between performance and

2.4. Online SME Business Performance (OBP)

3.2. Data Collection

3.3. Measurement Items

3.4. Data Analysis

3.5. Respondent Profile

Table 2. Demographic information about online SMEs.

Online SMEs Respondent Online SMEs

3.6. Questionnaire Validation: Preliminary Results

3.7. Common Method Bias

Table 3. Measurement of items loading, CA, CR, and AVE.

Items EMO OBP SO TO

Additionally, discriminant validity was examined through the heterotrait–monotrait

Table 5. Discriminant validity of measurement model—based on the HTMT ratio.

Items EMO OBP SO TO

Table 6. Results of the structural model.

Table 7. Results of PLS -MGA.

Table 7. Results of PLS-MGA.

PLS-MGA Parametric Test Welch–Satterthwait Test

Table 9. Results of the structural model.

Path Path Path Permutation

(a) (b) (c)

implicitly developing technical and technological skills among employees, contributing to

5.1. Theoretical Implications

5.2. Managerial Implications

marketing strategies, leveraging digital channels to reach specific audiences based on

5.3. Implications for Environmental Decision Makers

6. Limitations and Future Research Directions

Funding: This research received no external funding.

Table A1. Results of intended factors and cross-loadings.

Items EMO OBP SO TO

Figure A1. Variance Inflation Factor (VIF)–Coefficients.

Table A3. Results permutation algorithm (MICOM), Step 2.

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