Digitalization is the strategy of converting hard/paper files and documents into digital platforms. This allows data and information to be contacted instantly. This makes it easier for your business to manage their operations and helps to create fresh opportunities just for revenue era. Whether you could have outdated legal systems, manual operations that may https://cloudycrowd.net/2020/03/23/business-digitalization-implications-and-solutions/ end up being automated or perhaps inefficient conversation between staff members and managers, business digitization can help you solve these issues and boost productivity.
The COVID-19 outbreak has confirmed the practical value of digitalization in public crisis response tactics. However , digitalization is insufficient to respond to ongoing dangers. Instead, businesses need to strive to turn risks into chances through strategic responses. Because of this it is important for firms to have potent capabilities – a combination of techniques and resources that enables these to adapt in the face of disruption (George et al. 2014; Nylen and Holmstrom 2015).
Existing research has revealed that digitalization can increase firm’s dynamic features by increasing their capability to sense environmental surroundings, to catch opportunities, and reconfigure resources. Moreover, these kinds of capabilities happen to be critical for firms’ ability to successfully manage public crises. Based upon these findings, this article explores the associations between digitalization, dynamic capacities, and community crisis response strategies by using a survey involving 518 SMEs in China. The results demonstrate that SMEs with great levels of digitalization have better crisis response performances than those with low-level of digitalization. Further, a qualitative examination suggests that digitalization can help SMEs develop and implement short-term emergency reactions and long term crisis management approaches.