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.

Purpose: The exchange of knowledge in social networks is fundamental to innovation. Open, interactive, innovation requires collaboration through social networks. This social networking is increasingly carried out across the Internet through social media applications. The purpose of this study is to explore the use of social media in open innovation, and explain how this practice is carried out in small and medium-sized enterprises (SMEs). With less resources than large firms, SMEs both have a greater need for open innovation and a less resources to invest in the process. Design/methodology/approach: In this paper, the authors study the case of open innovation in start-up Aurea Productiva and induce a framework for open innovation in SMEs powered by social media. Findings: The authors explore how the main advantages of the Web 2.0 translate into opportunities, challenges and strategies for open innovation that can be directly applied by managers. Research limitations/implications: The authors contribute to research on open innovation by social media and to research on the innovation process of SMEs. Future quantitative research could confirm and extend the authors’ findings. Practical implications: Companies that want to fully exploit the benefits of social media can create a strategy that emphasizes coevolution of innovation and resources, sharing their vision and objectives and providing a framework for innovation. Originality/value: The authors introduce an original analysis of opportunities, challenges and strategies for open innovation in SMEs.

Chinese innovation is again flowing westwards, which is fomented by China’s Belt and Road Initiative. In this context, we study the international impact of innovations from specific countries. Based on panel data of patents from 27 countries over 17 years, we find that levels of open innovation, technological complexity, and dominant design influence the international impact of innovations from a country. Contrary to earlier research, however, this influence is negative when open innovation activities are involved. This is particularly relevant in the context of Chinese innovation, in which the same innovation networks that promote efficient production may hinder the development of innovations. Due to the innate uncertainty and newness of innovation, partners beyond the common local and long‐term networks must be included. Hence, to effectively create a New Silk Road of Innovation, innovation ecosystems may need to expand across national borders. This opens up fruitful avenues for future research, and individuals with multiple cultural identities can bridge the gaps between contexts.