For better or worse, digital technologies are reshaping everything, from customer behaviors and expectations to organizational and manufacturing systems, business models, markets, and ultimately society. To understand this overarching transformation, this paper extends the previous literature which has focused mostly on the organizational level by developing a multi‐level research agenda for digital transformation (DT). In this regard, we propose an extended definition of DT as “a socioeconomic change across individuals, organizations, ecosystems, and societies that are shaped by the adoption and utilization of digital technologies.” We suggest four lenses to interpret the DT phenomenon: individuals (utilizing and adopting digital technologies), organizations (strategizing and coordinating both internal and external transformation), ecosystems (harnessing digital technologies in governance and co‐producing value propositions), and geopolitical frameworks (regulating the environments in which individuals and organizations are embedded). Based on these lenses, we build a multi‐level research agenda at the intersection between the bright and dark sides of DT and introduce the PIAI framework, which captures a process ofperception,interpretation, andactionthat ultimately leads to possibleimpact. The PIAI framework identifies a critical research agenda consisting of a non‐exhaustive list of topics that can assist researchers to deepen their understanding of the DT phenomenon and provide guidance to managers and policymakers when making strategic decisions that seek to shape and guide the DT.

This paper examines how entrepreneurial opportunities co-evolve within a sustainable entrepreneurship ecosystem (SEE). Most of the literature on entrepreneurial ecosystems falls short on integrating the entrepreneurial process in empirical research. To analyze data collected from pre-start-up teams within a nascent SEE on high-tech cellulose-based materials over 3 years, we apply a design science approach that helps understand actors’ collaborative sensemaking in designing and structuring ecosystem features and relationships. Our findings show that the SEE can be seen as a design artifact which evolves by ecosystem actors collectively engaging in new venture ideation and developing opportunity confidence. Furthermore, the paper presents a novel SEE framework, which elaborates on phases and enablers of the opportunity co-evolution process within an emerging ecosystem. We contribute to the literature on sustainable as well as general entrepreneurial ecosystems and offer a new theoretical foundation for a process view on ecosystems.

Drawing upon prior research suggesting inertia prevents organizations from learning, we suggest that the relationship between entrepreneurial orientation (EO) and strategic learning (SL) is not as straightforward and linear as has been suggested. The size and age of an organization, considered indicators of inertia, are important factors affecting how EO contributes to the components of SL. Data from 182 software companies confirm the non-linear relationships between EO and the dissemination, interpretation, and implementation components of SL. The results also indicate that the U-shaped association between EO and specific components of SL is more pronounced for larger and established companies than for younger and smaller ones. These findings depart from previous work based on strategic learning from mistakes, and offer a specific understanding of the relationship between EO and the four distinct components of SL. These results suggest that companies should opt to facilitate the individual components of SL as they are affected differently depending on the level of EO, and the age and size of the organization