The partial least squares path modeling (PLS-PM,PLS-SEM) method to structural equation modeling allows estimating complex cause-effect relationship models with latent variables. It is a component-based estimation approach that differs from the covariance-based structural equation modeling.

Here is useful information:

https://www.smartpls.com/documentation/learn-pls-sem-and-smartpls/choosing-between-pls-sem-and-cb-sem

In short use PLS-SEM in primarily exploratory research (the goal is develop theory). In contrast, CB-SEM in confirmatory research (the goal is theory testing).

See chapter 1 in

Hair, J. F., Hult, G. T., Ringle, C. M., & Sarstedt, M. (2017). A primer on partial least squares structural equation modeling (PLS-SEM). California: Sage

The partial least squares path modeling (PLS-PM,PLS-SEM) method to structural equation modeling allows estimating complex cause-effect relationship models with latent variables. It is a component-based estimation approach that differs from the covariance-based structural equation modeling.

Thank you

Full answer to your question by jointly checking out the following references:

• McIntosh et al., " Reflections on Partial Least Squares Path Modeling ", 2014 - https://pdfs.semanticscholar.org/86e8/8c8050f2ad49d3191b4659d19de88b4d5aea.pdf
• Sarstedt et al., "Estimation issues with PLS and CBSEM:Where the bias lies!", 2016 -

  Article Estimation issues with PLS and CBSEM: Where the bias lies!

• Ronkko et al., "Partial least squares path modeling: Time for some serious second thoughts", 2016 - https://www.researchgate.net/profile/Khan_Taufique/post/If_I_going_to_do_analysis_in_PLS_SEM_is_it_necessary_to_do_normality_test/attachment/59d64ef879197b80779a837b/AS%3A495358913986560%401495114176099/download/PLS+2nd+Thought_2016.pdf
• Hair et al., " Mirror, mirror on the wall: a comparative evaluation of composite-based structural equation modeling methods ", 2017 -

  Article Mirror, mirror on the wall: a comparative evaluation of comp...

• Hair et al., "PLS-SEM or CB-SEM: updated guidelines on which method to use", 2017 - https://www.researchgate.net/profile/Thien_Sang_Lim/post/What_papers_or_manuals_do_you_recommend_the_most_to_be_up_to_date_on_PLS-SEM/attachment/5b19e61f4cde260d15e3f856/AS%3A635070301888512%401528423967525/download/242.+2017+Hair+et+al++-+PLS-SEM+or+CB-SEM+IJMDA.pdf
• Rigdon et al., "On Comparing Results from CB-SEM and PLS-SEM: Five Perspectives and Five Recommendations", 2017 - https://elibrary.vahlen.de/10.15358/0344-1369-2017-3-4/on-comparing-results-from-cb-sem-and-pls-sem-five-perspectives-and-five-recommendations-jahrgang-39-2017-heft-3