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52
ISSN 2409-2665
Journal of Logistics, Informatics and Service Science
Vol. 11 (2024) No. 5, pp. 52-69
DOI:10.33168/JLISS.2024.0504
Data-Driven Innovation Imperatives: Investigating Mediating
Pathways from Intelligence to Blockchain Entrepreneurship
Fawwaz Tawfiq Awamleh 1, Ala Nihad Bustami 2, Yousef Ahmad Alarabiat 3, Abeer Sultan
ALtarawneh 4, Manar Niwash
1 Faculty of Business, Department of Business Administration, Amman Arab University, Jordan
2MRes holder from the University of Glasgow, UK
3Jordanian Ministry of Justice
4Faculty of Business, Department of Business Administration, Amman Arab University, Jordan
F.awamleh@aau.edu.jo, alabustami@outlook.com, yousefarabiat@gmail.com,
a.tarawneh@aau.edu.jo, manarnawash@yahoo.com
Abstract. This empirical research examines the crossover between business intelligence,
analytics, strategic management and entrepreneurial orientation in enabling blockchain
business model innovation. Quantitative survey analysis of 352 pharmaceutical managers in
Jordan reveals significant indirect effects of intelligence systems in driving blockchain-
powered transformations, advancing academic comprehension of data-to-decision translation
mechanisms for entrepreneurial goals. Practically, the applied insights assist practitioners in
synergizing analytical tools with blockchain platforms to bolster organisational agility,
transparency and competitive differentiation.
Keywords: Business Intelligence and Analytics, Strategic Management, Entrepreneurship,
Business Analytics, Blockchain-based Business Model Innovation, Jordan.
Awamleh et al., Journal of Logistics, Informatics and Service Science, Vol. 11 (2024) No. 5, pp. 52-69
53
1. Introduction
Attention towards blockchain technology and its applications in different industries has increased
significantly. Therefore, businesses continuously look for innovative ways to adapt their business model
to suit emerging needs and accommodate rapid changes. Untraditional and entrepreneurial ways of
doing business nowadays pressure businesses to adopt innovation. Especially, in terms of doing
business and designing it (Duan et al., 2019). Therefore, businesses must implement dynamic and
intelligent ways of integrating their business process to achieve the utmost value presented to the
customers. Hence, adopting an innovative business model requires a suitable infrastructure.
Subsequently, blockchain technology can establish a trustworthy communication channel with the
stakeholders and raise funds securely. Additionally, it unlocks the power of innovation (Chen, 2018).
Furthermore, blockchain technologies lean towards creating innovative business models that enable
entrepreneurial firms to find new business means to deliver value propositions of their products to the
market (Casadesus‐Masanell et al., 2013; Chen & Bellavitis, 2020; Foss et al., 2017; McDonald &
Eisenhardt, 2020).
Data analytics (DA) and business intelligence (BI) are quite helpful for businesses. Specifically, in
identifying marketing trends and customer purchasing habits. Securities are valuable in today's
corporate sector. As a result, blockchain-based systems are in high demand (Mishra & Mishra, 2022).
There is a connection between strategic management (SM) and business intelligence (BI). Subsequently,
strategic management is vital for assessing the effects of digital advances on the company model.
Maintain a competitive edge by staying ahead of new technological developments. Blockchain
technology allows organizations to transmit digital data across firms by changing how participants
participate in digital transactions, validate transactions, eliminate intermediaries, and increase trust
(Kersten et al., 2017; Romano & Schmid, 2017; Tijan et al., 2019).
Integrating blockchain-based business model innovation (BBMI) with business intelligence (BI)
and data analytics (DA) is a strategic imperative for organizations seeking to unlock the full potential
of decentralized technologies. The marriage of blockchain's transparent, secure, and decentralized
ledger with the analytical power of business intelligence allows for a comprehensive understanding of
operations, customer interactions, and market dynamics. This synergy enables real-time data analysis,
empowering businesses to make informed decisions promptly. The transparent nature of blockchain
transactions facilitates traceability, while smart contract analytics ensure compliance and performance
monitoring. By using advanced analytics to study blockchain data, organizations can discover useful
patterns, trends, and anomalies. This helps them make proactive decisions based on accurate
information. Moreover, the integration enhances supply chain visibility, customer analytics, and
security monitoring, ultimately driving operational efficiency, cost optimization, and strategic agility in
an ever-develop business landscape.
However, researchers need to conduct additional studies to understand the downsides and develop
methods to increase adoption (Coskun-Setirek & Tanrikulu, 2021). The extant research on blockchain
business model innovation (BBMI) is mostly concerned with the technical aspects. Multiple studies
have looked at how blockchains affect the growth of strategic abilities (Kersten et al., 2017; M. Wang
et al., 2021). Supply chain management is one business activity where blockchain might offer ways of
overcoming the existing challenges. Consequently, an investigation is necessary to ascertain how
blockchain technology generates, distributes, and gathers value, as well as how technological factors
may change business models (M. Wang et al., 2021). In addition to the fact that theorists have not given
enough consideration to the influence of blockchain technology on business models, blockchain
companies also fall short of delivering the anticipated commercial benefits (Romano & Schmid, 2017).
Blockchain has the potential to speed up management and business growth substantially. However, the
intersection of business intelligence, analytics and blockchain for entrepreneurial innovation lacks
rigorous empirical scrutiny (Mishra & Mishra, 2022).
This study aims to bridge the gap in the current literature by investigating the factors that influence
blockchain-based business model innovation (BBMI). The current study aims to make key theoretical
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54
contributions to the literature. It advances the understanding of the role of business intelligence,
unlocking the potential of strategic management, data analytics and entrepreneurship to shape business
model innovation. Especially with the presence of blockchain. This contributes to the current literature
by providing a quantitive model that links vital concepts. Furthermore, this study will be a stepping
stone for further research that addresses entrepreneurship and blockchain-based technologies.
Pharmaceutical industries heavily depend on supply chains to get their raw material as well as
deliver their product to their clients. The supply chain system is at the centre of the success of
pharmaceutical companies considering the critical nature of the products (Haq & Muselemu, 2018).
Therefore, they are investing heavily in finding solutions to boost trust and transparency in their supply
chain processes. This is why it is very sensitive and suitable for being a study context. Pharmaceutical
companies in Jordan have been studied extensively, which gives the right motivation to consider it as
the study context.
for this study to consider it as a context (Akour et al., 2024; Barakat & Al-Zagheer, 2021; Jum’a,
2023; Sharabati, 2021).
This study is organised as the following: First, the literature review. Then, describe the method and
the data collection and analysis. Followed by the result where the finding from the data analysis are
presented. Finally, the discussion section, where the outcomes of the study are presented in light of
other studies in the same respect, limitations, implications, and future research.
2. Literature Review
Recent years have seen an enormous increase in interest in blockchain technology. This is due to its
potential to revolutionize a variety of industries. However, business intelligence has long been a crucial
tool for organizational decision-making (Awamleh & Bustami, 2022; George et al., 2019; Ji & Tia, 2021).
Therefore, by fusing these technologies with strategic management, organizations may create a solid
foundation that fosters growth and success.
Strategic management refers to the process of formulating goals, creating strategies, and putting
plans into action to accomplish corporate objectives. Organizations require strategic management to
remain competitive and adapt to changing market conditions. It comprises investigating the effects of
both internal and external elements on the organizations and then basing decisions on this analysis
(Zwerenz, 2020). For instance, organizations may utilise strategic management to find new markets to
enter or create brand-new items to satisfy consumer demand. To complete this process, one must have
a thorough awareness of the business environment, including rivals, clients, and market trends (Hitt et
al., 2019; Zwerenz, 2020).
On the other hand, blockchain-based business model innovation (BBMI) describes how
conventional business models are changed through the usage of blockchain technology. Businesses can
perform transactions and store data on a decentralized, secure, and transparent platform made possible
by blockchain technology. New business concepts that were previously unattainable or challenging to
implement can now be made possible by technology (Marikyan et al., 2022; Purusottama et al., 2022).
Organizations digitalize their business models to increase their ability to compete in today's dynamic
market, with emerging technologies and shifting consumer demands (Marikyan et al., 2022; Taherdoost
& Madanchian, 2023).
The adoption of blockchain-based technology by organizations to improve business profitability,
productivity, and efficiency is one of the technical advances (Marikyan et al., 2022). For instance,
blockchain-based business model innovation BBMI can be used to improve the efficiency of the supply
chain. By tracing products from the manufacturer to the final user (Chang et al., 2019; Zheng et al.,
n.d.). A business model explains how value is created and delivered, as well as the expenses and
revenues related to such activities. The BBMI is concerned with modifications to the company's value
creation, value delivery, and value capture processes. Which will encourage innovation to either create
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55
new markets or improve ones that already exist (Marikyan et al., 2022).
Strategic management and BBMI are closely related, as they both are involved in developing
innovative strategies to improve business operations. The context for recognizing opportunities and
creating new markets or improving ones that already exist (Marikyan et al., 2022). Strategies are
provided by strategic management, while the technology for doing so is provided by BBMI. These two
strategies can be combined to help organizations build a strong framework that fosters expansion and
success (Karpenko et al., 2019; Zheng et al., 2021). For instance, a business might utilise strategic
management to find a new market to penetrate and then use BBMI to create a new business model that
leverages blockchain technology. This new business model can provide a competitive advantage and
drive growth for the company (Zwerenz, 2020).
Furthermore, blockchain can play a role in improving business intelligence, which is a key
component of strategic management. By leveraging blockchain-based business intelligence, enterprises
can enhance their strategic decision-making capabilities, leading to competitive advantages and long-
term success. One of the primary benefits of integrating blockchain technology into business operations
is the transparency it can provide. The implementation of blockchain technology can enable the
transparency and traceability of key resources within an organization, resulting in a more efficient and
trustworthy supply chain network (Gohil & Thakker, 2021; Pancić et al., 2023). Additionally,
blockchain technology can be used in product lifecycle management through the integration of other
technologies. For instance, the combination of blockchain technology and business intelligence can
facilitate strategic management processes, such as performance monitoring and risk analysis (Gohil &
Thakker, 2021; Ji & Tia, 2021).
In terms of how strategic management and blockchain-based BMI interact, business intelligence
may play a crucial mediating factor (Awamleh & Bustami, 2022). Business intelligence may assist
organizations in lowering risks while boosting efficiency through the efficient integration of
information resources (Barreto et al., 2017). Business intelligence also describes the procedure of
gathering, evaluating, and deciphering data to make smart business decisions. It entails utilizing a
variety of tools and approaches to draw conclusions from data and turn it into useful information.
Businesses need business intelligence because it enables them to see opportunities, reduce risks, and
improve performance (Awamleh & Bustami, 2022; Pancić et al., 2023). For example, organizations
may use business intelligence customer data to identify trends and preferences. This analysis can help
organizations develop targeted marketing campaigns and improve customer satisfaction (Ain et al.,
2019; Pancić et al., 2023). Business Intelligence and Strategic Management have been the backbone of
many successful companies, and with blockchain-based BMI, it is no different for pharmaceutical
companies. The potential impact of BBMI on pharmaceutical companies can be significant in terms of
efficiency, transparency, and security (Zwerenz, 2020).
The advantage of BBMI lies in its ability to generate a secure and transparent supply chain [33]. It
enables companies to use smart contracts. Pharmaceutical companies can track their products from the
manufacturing stage to the end consumer. Nevertheless, it ensures that the product is authentic and also
helps prevent counterfeit drugs from entering the market (Awad et al., 2022; Prokofieva & Miah, 2019).
Additionally, BBMI can help reduce the time and cost associated with manual record-keeping processes
(Fellah et al., 2023; Marikyan et al., 2022).
Business intelligence plays a notable role in the relationship between strategic management and
BBMI (Awawdeh et al., 2022; Fellah et al., 2023). It acts as a tool that enables businesses to collect,
analyze, and interpret data that are at the very centre of making informed decisions. It is believed that
by using business intelligence, businesses are more likely to optimize their operations and improve their
performance (Fitriana & Djatna, 2011; Maulana & Wulandari, 2019).
In the study of BI Systems Implementation in Jordanian Pharmaceutical Companies, the study
concludes that the successful implementation of BI is essential for performance success elements
Awamleh et al., Journal of Logistics, Informatics and Service Science, Vol. 11 (2024) No. 5, pp. 52-69
56
(Alabaddi et al., 2019). For example, a company may use business intelligence to analyze customer data
to identify trends and preferences. This analysis can then be used to develop a new business model that
leverages blockchain technology. The use of business intelligence ensures that the new business model
is based on data-driven insights, leading to improved performance and increased success (Alabaddi et
al., 2019). This supposed relationship will explore how the integration of strategic management, BBMI,
and business intelligence can lead to transformative changes in how businesses operate. Hence, this
study hypothesizes that:
H1: Strategic Management and Business Intelligence positively affect Blockchain-based BMI.
In today's business climate, the connection between entrepreneurship and BBMI is a subject of
utmost importance. Entrepreneurs have the opportunity to create advanced business models that offer
special value to their clients by combining these two principles and utilising business intelligence tools
to construct decentralized platforms, lower expenses, and enhance productivity (Chen, 2017; Larios-
Hernández, 2017).
Entrepreneurship is "creating and managing a new business venture to achieve a profit" (Hitt et al.,
2019). On the other hand, BBMI is developing new business models using blockchain technology
(Marikyan et al., 2022). Combining entrepreneurship and BBMI can result in the development of novel
business models that have the potential to upend established markets (Oche, 2021; Zheng et al., 2021).
Hence, this study hypothesizes that:
H2: Entrepreneurship and Business Intelligence positively affect Blockchain-based BMI.
The field of business analytics has been paying close attention to BBMI in recent years. Furthermore,
Business Intelligence (BI) may be necessary to fully exploit the potential advantages of BMI (Ahmad
& Mustafa, 2022; Bany Mohammad et al., 2022; Pancić et al., 2023). Business analytics is the practice
of using statistical and quantitative analysis methods to glean insights from corporate data and apply
those insights to decision-making. Academics and professionals anticipate that the widespread
application of business analytics will have a considerable impact on corporate performance (Yin &
Fernandez, 2020).
Business analytics play a crucial role in the development and implementation of BBMI. With the
use of blockchain technology and business analytics, organizations can effortlessly store and share data
in a very secure and open manner. This enables organizations to access crucial data and evaluate it in
real time, enabling them to make wise decisions quickly and effectively (Fellah et al., 2023; Pancić et
al., 2023; Yoo & Roh, 2021).
The same is true of the relationship between BI and BBMI, Business Intelligence's importance in
Blockchain-Based BMI The entire potential of Blockchain-Based BMI can only be achieved through
the usage of Business Intelligence, even though blockchain technology can completely transform the
way businesses function. Businesses may make data-driven decisions that can help them stay ahead of
the competition thanks to business intelligence, which offers them useful insights into their operations.
Businesses may examine the data they get using blockchain technology with the help of business
intelligence, and then use this knowledge to create and put into practice successful business strategies
(Marikyan et al., 2022; Pancić et al., 2023).
Additionally, BI could serve as a mediator between business analytics and BBMI. Business
intelligence is required to fully utilize the potential of blockchain-based BMI. Business intelligence (BI)
is used to give organizations crucial insights into how well their operations are running (Pancić et al.,
2023; Yin & Fernandez, 2020). It also enables organizations to make defensible decisions based on the
data they gather using blockchain technology. Businesses may analyse the data they collect from
blockchain platforms using business intelligence, and then use this data to create and put into practice
Awamleh et al., Journal of Logistics, Informatics and Service Science, Vol. 11 (2024) No. 5, pp. 52-69
57
strategic business plans that will help them grow and succeed. In the very competitive corporate climate
of today (Ji & Tia, 2021; Pancić et al., 2023).
Business analytics is used in a variety of industries, including banking, insurance, the medical
industry, and others. For instance, utilising business analytics (descriptive and predictive analytics) in
the pharmaceutical industry is important for sufficient reasons. First, it enables businesses to examine
enormous amounts of data and learn more about consumer trends, market trends, and drug effectiveness.
Making informed judgments about which drugs to produce, how to price them, and how to advertise
them to customers is then possible using this knowledge. Second, business analytics may assist
organizations in finding inefficiencies in their supply chains and operational processes, which can result
in cost savings and improved productivity. Finally, businesses can get a competitive edge in the market
by using predictive analytics to foresee future trends and adjust their strategy accordingly.
Numerous examples exist of pharmaceutical companies that have effectively increased efficiency
and profitability by utilising business analytics. For instance, Pfizer and Novartis optimized their supply
chain using predictive and prescriptive analytics to lower inventory costs and boost revenues (Finelli &
Narasimhan, 2020; Guo, 2023). Hence, this study hypothesizes that:
H3: Business Analytics and Business Intelligence positively affect Blockchain-based BMI
The study's theoretical framework shows the conceptual framework after a detailed discussion of
the literature review.
Fig. 1: Research Model
The conceptual research model that demonstrates the factors affecting blockchain-based business
model Innovation (BBMI) through business intelligence.
3. Research Methodology
The study adopted an analytical descriptive approach that is based on analysing the latest practical
studies related to factors (i.e., entrepreneurship, business analytics, and strategic management) affecting
blockchain-based business model innovation through business intelligence. The previous literature
analysis provided the required support for backing the hypotheses and the study model. Consequently,
the current study tool was developed based on specific references. These references were selected based
on their suitability, relatability, and similarity to the current study. To ensure the extent of the study
population's understanding of the study's instrument, a pilot study was used on 32 managers in
pharmaceutical companies.
The study involved 15 Jordanian pharmaceutical companies that operate blockchain-based
solutions and are considered key players in Jordan's pharmaceutical sector. Several factors led to the
selection of the pharmaceutical sector as the research context. First is the sector's dependence on supply
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58
chain and blockchain technology. Second, the concept of business intelligence is not new to the industry.
There is some evidence of business intelligence research being conducted in the industry. Traditional
questionnaires were distributed to the managers of the selected companies as they have extensive
experience in running companies.
A probability sampling method was adopted. The use of probability samples increases
representativeness, reduces bias, facilitates statistical inference, promotes comparability, makes
generalizability, is consistent with ethical considerations, supports accuracy of estimation, and supports
random It is justified because it controls errors and allows the application of statistical tests and
evaluations of effectiveness. Out of the total questionnaires distributed, 352 valid questionnaires were
considered valid for statistical analysis.
The study tool was developed by reverting to the previous studies that presented validated
questionnaires in different countries and sectors (Awamleh & Bustami, 2022; Barringer & Bluedorn,
1999; Duan et al., 2019; Marikyan et al., 2022; Rustamadji & Omar, 2019; Tsolakidis et al., 2020). A
pilot study was distributed to the research sample to ensure the reliability and validity of the study
questions. The study tool was designed based on the following details to cover the study variables.
As an independent variable, entrepreneurship is measured by 9 questions adopted by referring to
the following studies (Barringer & Bluedorn, 1999; Tsolakidis et al., 2020). The questions were
evaluated using a 7-point Likert scale, where the number "1" represents strongly disagree and "7"
strongly agree. Secondly, business analytics is represented by 3 questions based on (Duan et al., 2019).
It is based on a 7-point Likert scale, where the number "1" represents strongly disagree and "7" strongly
agree. Lastly, 11 questions to measure strategic management; detailed 3 dimensions, which are
(understanding of the planning, adequacy to company, and utilisation) based on the following studies
(Rustamadji & Omar, 2019; Tsolakidis et al., 2020). It adopted a 5-point Likert scale, where the number
"1" represents strong disagreement and "5" represents strong agreement. The selection of the scale came
due to the suitability of the context.
The mediator variable, business intelligence, 5 questions were adopted by referring to the following
studies (Awamleh & Bustami, 2022; Paulino, 2022) by adopting the 5-point Likert scale, where the
number "1" represents strong disagreement and "5" represents strong agreement. The BI measure used
in this study has a long trial of validated use in similar contexts. The dependent variable, Blockchain-
based Business Model Innovation 12 questions were adopted using 3 dimensions, which are (value
creation, value delivery, and value capture) based on the following study (Marikyan et al., 2022) by
adopting a 5-point Likert scale, where the number "1" represents strong disagreement and "5" represents
strong agreement. The current scale has been selected due to the relativity between the scale's questions
and the current study questions. Having a diversified scale that adopts 5 point Likert scale and 7 points
Likert scale was found to better serve measuring each variable as it has been verified in previous studies.
Furthermore, the analysis procedures weren't affected by this issue, it rather benefited the accuracy of
the measurement.
The study relied on the quantitative method of data collection. A questionnaire was adopted to
distribute questions to the target community, and then the SPSS program was used to ensure the validity
and reliability of the study tool. In the final stage, the PROCESS Micro v3.5 program was applied to
answer the study questions. The data was kept confidential and its results were used for research only.
The PROCESS macro is well known within the academic research community. Originally it was
introduced by (Andrew F. Hayes). It is used to establish statistical techniques for mediation and
moderation analysis. The PROCESS macro permits the analysis of both moderation and mediation
effects within a single framework. It provides estimates for direct and indirect effects, allowing
researchers to investigate complex relationships in their data.
352 completed questionnaires were found approved and validated for analysis using the SPSS 25
program, and several statistical analyses were applied to test the validity, reliability, and linearity of the
Awamleh et al., Journal of Logistics, Informatics and Service Science, Vol. 11 (2024) No. 5, pp. 52-69
59
data to make sure that the data were suitable for testing the hypotheses. Then, the hypotheses were
tested using PROCESS Micro v3.5 software to answer the direct and indirect effects of the study
questions.
Pearson correlation test was used to confirm the internal validity (**R = < 0.01) and (*R = < 0.05)
the results were confirmed except for two variables of the dimensions of blockchain-based business
model innovation, which are value delivery and value capture. A unified variable (BBMI) achieved the
condition of internal validity. In addition, the independence of the data was confirmed since all the
numbers are among (20 =< R =< 90) except for two variables from the dimensions of blockchain-based
business model innovation, which are value delivery and value capture. On the other hand, a unified
variable (BBMI) fulfilled the independence condition (F. Hair Jr et al., 2014; Sekaran & Bougie, 2016).
Cronbach's Alpha was used to confirm the reliability of the study tool. The reliability was found to
be significant with overall credibility (α = 0.95) while the lowest item is not less than (α = 0.70).
Consequently, the study met the condition of the reliability of the study tool (F. Hair Jr et al., 2014).
The linearity was verified because all the numbers are between (2.58 >= Skewness - Kurtosis =< -2.58)
(Sekaran & Bougie, 2016).
The respondents' responses to the entrepreneurship questions showed that the mean was (4.9),
which is a medium level according to 7-point Likert while the mean for business analytics was (5.3),
which is a high level according to 7-point Likert. Additionally, the strategic management mean was
between (3.6) and (3.5), which is between medium and high level according to 5-point Likert while
business intelligence's mean was (4.1), which is a moderate level according to 7-point Likert.
Table 1: the internal validity through Pearson Correlation test.
Variable
IV
M DV
Item
EP
BA
SM
SMUP
SMAC
SMU
BI
BBMI
VC
VD
VCR
EP
1.0
BA
.81
**
1.0
SM
.80
**
.66
**
1.0
SMUP
.75
**
.61
**
.88
**
1.0
SMAC
.72
**
.59
**
.89
**
.76
**
1.0
SMU
.64
**
.56
**
.87
**
.57
**
.77
**
1.0
BI
.57
**
.51
**
.62
**
.52
**
.62
**
.51
**
1.0
BBMI
.34
**
.29
**
.31
**
.25
**
.29
**
.28
**
.33
**
1.0
BBMIVC
.66
**
.55
**
.74
**
.67
**
.70
**
.62
**
.82
**
.36
**
1.0
BBMIVD
.18
**
.17
**
.12
*
.10
.11
*
.11
*
.10
.84
**
.08
1.0
BBMIVCR
.01
.00
-.03
-.07
-.02
.01
-.01
.75
**
-.06
.42
**
1.0
** Correlation is significant at the 0.01 level (2-tailed); * Correlation is significant at the 0.05 level (2-tailed), N= 352.
EP= Entrepreneurship; BA= Business Analytics; SM= Strategic Management: UP= Understanding
of the Planning, AC= Adequacy to Company, U= Utilisation; BI= Business Intelligence; BBMI=
Blockchain-based Business Model Innovation: VC= Value Creation, VD= Value Delivery, VCR=
Value Capture. High level according to 5-point Likert; and finally, Blockchain-based Business Model
Innovation was between (3.8) and (2.6) which are low and high levels. Interestingly, the "value creation"
dimension had the highest level of interest within the study community.
Awamleh et al., Journal of Logistics, Informatics and Service Science, Vol. 11 (2024) No. 5, pp. 52-69
60
Table 2: Tests of Reliability, Normality, and Descriptive Statistics.
Variable
IV
M
DV
∑
Item
EP
BA
SM
UP
AC
U
BI
BBMI
VC
VD
VCR
Description
N. of item
9
3
11
4
3
4
5
12
4
4
4
40
Alpha (α)
.94
.91
.93
.93
.76
.87
.91
.84
.82
.95
.92
.95
Skewness
-1.0
-1.2
-.7
-.9
-.6
-.7
-1.3
.63
-.9
.5
.5
Er= .13
Kurtosis
1.1
1.6
.9
.9
.7
.6
2.5
-.1
2.1
-.9
-.7
Er= .26
Maximum
7.0
7.0
5.0
5.0
5.0
5.0
5.0
5.0
5.0
5.0
5.0
Likert Scale
Minimum
1.0
1.0
1.0
1.0
1.0
1.0
1.0
1.0
1.0
1.0
1.0
Likert Scale
Mean
4.9
5.3
3.6
3.6
3.6
3.5
4.1
3.0
3.8
2.6
2.6
HL&ML
SD
1.2
1.2
0.7
0.9
0.8
0.8
0.7
0.7
.7
1.2
1.0
HL&ML
Alpha (α) >= 70; Skewness & Kurtosis = ±2.58; Mean & SD = High level (HL) & Medium level (ML)
EP= Entrepreneurship; BA= Business Analytics; SM= Strategic Management: UP= Understanding of the Planning, AC=
Adequacy to Company, U= Utilisation; BI= Business Intelligence; BBMI= Blockchain-based Business Model Innovation:
VC= Value Creation, VD= Value Delivery, VCR= Value Capture.
PROCESS Micro v3.5 was used to test the direct and indirect impact and to test periods for LLCI
and ULCI values which do not meet zero [55]. According to Table 4, the total effect of strategic
management of explained (0.38) from BI & BBMI as shown by R-sq, F test (213.1) which is statistically
significant at (P = < 0.01). In addition, LLCI and ULCI between (0.19 and 0.37) did not meet the zero
value, which fulfilled the statistically significant distance condition. The direct effect of SM explained
0.10 from BI & BBMI based on R-sq, F test (36.45) which is statistically significant at (P = < 0.01).
LLCI and ULCI between (0.04 & 0.27) meet zero value, which the statistically significant distance
condition was not met [55]. Partially mediated effect (complementary) where the direct effect is 0.15,
the indirect effect is 0.13 and the total effect reaches 0.15 + 0.13 = 0.28, which improves the value of
the complementary effect.
Table 3: Direct & Indirect effect summary of BI between SM & BBMI.
The total effect of SM on BBMI:" SM & BI & BBMI"
Effect SE R-sq t F LLCI ULCI p
0.28 0.04 0.38 6.06 213.1 0.19 0.37
0.00
The direct effect of SM on BBMI: SM BBMI
Effect SE R-sq t F LLCI ULCI p
0.15 0.06 0.10 2.63 36.45 0.04 0.27
0.00
Indirect effect(s) of SM on BBMI: SM BI BBMI
Effect SE R-sq t F LLCI ULCI p
0.13 0.04 0.13 3.63 25.60 0.06 0.21
0.00
**Level of confidence for all confidence intervals in output:95.0000
SM= Strategic Management; BI= Business Intelligence; BBMI= Blockchain-based Business Model Innovation.
Awamleh et al., Journal of Logistics, Informatics and Service Science, Vol. 11 (2024) No. 5, pp. 52-69
61
Fig. 2: The Direct and indirect effect of Strategic Management on Blockchain-Based Business Model Innovation
(BBMI) Through Business Intelligence
The total effect of entrepreneurship of R-sq of EP explained (0.32) from BI & BBMI, F test (168.5)
which is statistically significant at (P = < 0.01). In addition, LLCI and ULCI between (0.13 and 0.24)
did not meet the zero value, which fulfilled the statistically significant distance condition. Other than
that, the direct effect of EP of R-sq explained 0.11 from BI & BBMI, F test (45.22) which is statistically
significant at (P = < 0.01). On the other hand, LLCI and ULCI between (0.06 & 0.19) meet zero value
which the statistically significant distance condition was not met (Hayes, 2015).
Partially mediated effect (complementary) where the direct effect is 0.12, the indirect effect is 0.07
and the total effect reaches 0.12 + 0.07 = 0.19 which improves the value of the complementary effect.
Table 5: Direct & Indirect effect summary of BI between EP & BBMI.
The Total Effect of EP on BBMI: EP & BI & BBMI
Effect SE R-sq t F LLCI ULCI p
0.19 0.03 0.32 6.72 168.5 0.13 0.24
0.00
The Direct Effect of EP on BBMI: EP & BBMI
Effect SE R-sq t F LLCI ULCI p
0.12 0.03 0.11 3.65 45.22 0.06 0.19
0.00
Indirect effect(s) of EP on BBMI: EP & BI & BBMI
Effect SE R-sq t F LLCI ULCI p
0.07 0.02 0.14 3.43 29.02 0.03 0.11
0.00
**Level of confidence for all confidence intervals in output:95.0000
EP= Entrepreneurship; BI= Business Intelligence; BBMI= Blockchain-based Business Model Innovation.
Awamleh et al., Journal of Logistics, Informatics and Service Science, Vol. 11 (2024) No. 5, pp. 52-69
62
Fig. 3: The Direct and indirect effect of Entrepreneurship on blockchain-based Business Model Innovation
(BBMI) Through Business Intelligence
The total effect of BA on BI & BBMI as explained by (R-sq =0.26), F test (123.4) which is
statistically significant at (P = < 0.01). Moreover, LLCI and ULCI between (0.10 and 0.21) did not meet
the zero value, which fulfilled the statistically significant distance condition. Other than that, the direct
effect of BA of R-sq explained 0.13 from BI & BBMI, F test (25.92) which is statistically significant at
(P = < 0.01). On the other hand, LLCI and ULCI between (0.04 and 0.11) meet zero value, which the
statistically significant distance condition was not met (Hayes, 2015).
Partially mediated effect (complementary) where the direct effect is 0.09, the indirect effect is 0.07
and the total effect reaches 0.09 + 0.07 = 0. 16, which improves the value of the complementary effect.
Table 6: Direct & Indirect effect summary of BI between BA & BBMI.
Total effect of BA on BBMI: BA & BI & BBMI
Effect SE R-sq t F LLCI ULCI p
0.16 0.03 0.26 5.61 123.4 0.10 0.21
0.00
Direct effect of BA on BBMI: BA & BBMI
Effect SE R-sq t F LLCI ULCI p
0.09 0.03 0.08 2.74 31.53 0.01 0.02
0.00
Indirect effect(s) of BA on BBMI: BA & BI & BBMI
Effect SE R-sq t F LLCI ULCI p
0.07 0.02 0.13 4.33 25.92 0.04 0.11
0.00
**Level of confidence for all confidence intervals in output:95.0000
BA= Business Analytics; BI= Business Intelligence; BBMI= Blockchain-based Business Model Innovation.
Awamleh et al., Journal of Logistics, Informatics and Service Science, Vol. 11 (2024) No. 5, pp. 52-69
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Fig. 4: The direct and indirect effect of business analytics on blockchain-based business model innovation
(BBMI) through business intelligence
4. Discussion
The current study focused on three significant factors (strategic management, entrepreneurship, and
business analytics) in influencing blockchain-based business model innovation. Furthermore, the study
proved that analysing big data through business intelligence and turning it into important insights
significantly develops business and administrative decisions. The study focused on pharmaceutical
companies; this is to consider the conditions of the project life cycle and to examine the role of factors
in the unique and diverse industries in its health field, which are based on blockchain-based business
model innovation (Cui et al., 2022).
The strategic management focused on holding meetings of the company's protocols through the
blockchain-based business model innovation, which achieved success in adopting the strategy of
consensus of the participants in decision-making in various fields, but some obstacles establish a barrier
in front of companies through the expected traditional survey of the effectiveness of the meetings, which
constitute inaccurate predictions in making accurate decisions (W. Wang et al., 2019). However, the
current study improved results by using the mediating engine to analyse data through business
intelligence, which forms visualisations with high accuracy that help companies make rational and more
accurate decisions.
Previous literature has argued that the blockchain-based business model innovation did not take
into account the trend of entrepreneurial firms, arguing that it does not provide any value to customers
in using their resources. But it served as an alternative, which is the efficiency of transactions, which
could be the basis for creating clients' value (Zott et al., 2011). The current study showed that
entrepreneurial companies contribute to the development of unlimited institutional innovations that
create value for customers and seek to adopt innovative initiatives that help them progress and innovate.
Technology platforms are invading the current world, which calls for a strategic revolution rather
than shouldering the hard burdens. The digital platform has become dependent on blockchain-based
business model innovation, which works to enhance business, which works to enhance the dynamism
of work (Mishra & Mishra, 2022). These platforms must rely on business analysis, artificial intelligence,
and blockchain because digital transformation creates a huge database that cannot be interpreted for
value if it is not analysed in the form of insights and graphic forms that facilitate reading and converting
them into valuable information that assists making decisions and achieving visions for future business
in the right form (Mishra & Mishra, 2022).
From a theoretical lens, the current study tackles crucial gaps in the literature. It has established a
direct link between business intelligence and blockchain-based business model innovation. This will
Awamleh et al., Journal of Logistics, Informatics and Service Science, Vol. 11 (2024) No. 5, pp. 52-69
64
open the door for further efforts to optimise this relationship in different industries. This study also
contributed to the literature by emphasising the critical connection between entrepreneurship and
blockchain technologies, which also is missing from the literature. Finally, by including the strategic
management dimension, this study tested the effect of strategic decision-making on the relationship
between business intelligence and blockchain-based business model innovation.
From a practical perspective, Given the complexity of the organisational context and challenges,
the study's findings have significant implications, particularly for pharmaceutical companies and
researchers: First, improvements in Decision-Making: Organisations may make well-informed strategic
decisions by using blockchain technology's business analytics and intelligence solutions. A proactive
approach to decision-making is made possible by the analysis of blockchain data, which can reveal
insightful information about market trends, consumer behaviour, and operational efficiencies (Kumar,
2012; Marikyan et al., 2022; Taherdoost & Madanchian, 2023). Secondly, efficiency and transparency
improvements: due to the decentralised and irreversible ledger it provides, blockchain technology
increases efficiency and transparency. Organisations may obtain actionable insights from business
analytics and intelligence to find process bottlenecks, streamline processes, and guarantee transparency
throughout the value chain (Taherdoost & Madanchian, 2023). Thirdly, innovation and present New
Business Models: Blockchain technology combined with strategic management and entrepreneurship
enables businesses to experiment with new business models and tech-driven breakthroughs. De-
centralised applications and smart contracts can be created thanks to blockchain technology, creating
new prospects for innovative business models (Taherdoost & Madanchian, 2023).
Fourthly, risk reduction and security: by combining business analytics and intelligence, blockchain
technology offers a safe and impenetrable platform for organising and storing data. Organisations can
evaluate and reduce risks related to the deployment of blockchain technology. Potential vulnerabilities
can be found via predictive analytics, allowing for the proactive implementation of security measures
(Ji & Tia, 2021; Taherdoost & Madanchian, 2023). Fifthly, customer engagement and trust: The
openness and immutability of blockchain technology can promote trust and enhance customer
engagement. Businesses may better understand client preferences, behaviour, and feedback by
integrating business intelligence and analytics. This allows them to customise products and services to
meet the demands of their customers, which increases their trust and loyalty (Kumari & Yadav, 2018;
Taherdoost & Madanchian, 2023). Sixthly, the collaboration between strategic alliances and ecosystems:
Collaboration between ecosystem members is made safe and transparent, thanks to blockchain
technology. Organisations may identify potential partners, examine market dynamics, and form
strategic alliances by integrating strategic management, entrepreneurship, business analytics, and
business intelligence. This fosters community growth and innovation within the blockchain ecosystem
(Awad et al., 2022; Fitriana & Djatna, 2011; Suyambu et al., 2020; Taherdoost & Madanchian, 2023;
Tarek & Adel, 2016). Overall, the incorporation of business intelligence, business analytics, and
strategic management into blockchain technology has sufficient applications that can benefit
researchers and organisations by promoting efficiency, transparency, innovation, and strategic decision-
making.
The study findings would inspire managers of the application of strategic management in
blockchain technology. Managers might try making use of blockchain's ability to foster innovation
inside a company and produce competitive benefits. This is to establish successful blockchain strategies
that contribute to long-term success. It is helpful to apply strategic management principles to assess
market opportunities, comprehend consumer needs, and develop such plans (Dal Mas et al., 2020;
Karpenko et al., 2019). Managers could rely on this study's result and incorporate entrepreneurship and
data analytics in blockchain technology to encourage innovation, risk-taking, and the creation of new
business models. Entrepreneurial managers within the blockchain space would learn how to seek to
identify promising opportunities, develop novel applications or solutions, and bring brilliant ideas to
the market by integrating entrepreneurship, blockchain technology can foster a dynamic ecosystem that
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65
encourages experimentation, collaboration, and the exploration of uncharted territories (Ratten, 2021;
Tarek & Adel, 2016; Trimi & Berbegal-Mirabent, 2012).
Strategic managers may acquire actionable insights from blockchain data and use those insights to
make well-informed decisions by using analytical techniques and tools. Logistics and supply chain
managers would learn about blockchain technology using business analytics to examine transactional
data, track network behaviour, spot abnormalities, and boost productivity. It aids researchers in trend
identification, market behaviour forecasting, and process optimisation, all of which improve
performance and competitiveness (Cui et al., 2022; Lohmer et al., 2022; Pancić et al., 2023). Finally,
Managers could integrate business intelligence amongst business analytics, entrepreneurship, strategic
management, and blockchain technology to concentrate on utilising data visualisation, reporting, and
data mining tools to derive beneficial business insight from blockchain data (Awamleh & Bustami,
2022; Hitt et al., 2019; Pancić et al., 2023; Wong et al., 2005; Zwerenz, 2020).
This study was limited to one environment and one sector that is pharmaceutical companies in
Jordan. Therefore, future research might want to diversify the sample. The study sample also included
the management position only, which has better details than the rest of the staff, but the study did not
include other job positions. Further studies might consider multiple viewpoints from the different
employment levels. In addition, the study used quantitative data and did not take any qualitative data,
which confirmed the importance and accuracy of the quantitative aspect of the current study. Another
suggestion for future studies is to use mixed method studies and incorporate quantitative and qualitative
data sources to recommend a holistic framework which can explain the interrelationship between the
constructs in different contexts. In terms of the study setting, further studies would emphasise the
cultural factor and how it will manipulate the dynamics of the model.
5. Conclusion
By elucidating the crucial optimisation role of business intelligence and analytics, this study makes
important scholarly and practical contributions. It enriches academic literature on blockchain
technology management by offering a tested model that bridges data interpretation with entrepreneurial
innovation. In addition, it makes it possible to match blockchain initiatives with larger corporate
objectives, encourage innovation and the development of new business models, make data-driven
decision-making easier, and offer insightful data for increased performance and competitiveness. The
findings also equip executives with targeted guidelines to accelerate organisational transformation
through blockchain solutions augmented by robust analytics. Future research can enrich insights by
assessing variations across sectors and regions and exploring qualitative nuances.
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