Digitalization is the technique of converting hard/paper files and documents in digital platforms. This allows info and info to be used instantly. This will make it easier for businesses to manage their very own operations and helps to create new opportunities meant for revenue generation. Whether you may have outdated legal systems, manual operations that may https://cloudycrowd.net/2020/04/01/digital-transformation-of-the-market-the-data-room-is-the-technology-1/ be automated or inefficient communication between employees and managers, business digitization can help you fix these issues and boost production.
The COVID-19 outbreak confirmed the functional value of digitalization in public crisis response approaches. However , digitalization is too few to respond to ongoing hazards. Instead, businesses need to keep pace with turn threats into opportunities through strategic responses. This is why it is important for companies to have vibrant capabilities – a combination of techniques and methods that enables those to adapt in the face of disruption (George et ing. 2014; Nylen and Holmstrom 2015).
Existing research has revealed that digitalization can boost firm’s active capacities by raising their capability to sense the surroundings, to seize opportunities, and to reconfigure information. Moreover, these types of capabilities will be critical for firms’ ability to properly manage community crises. Based on these studies, this article explores the relationships between digitalization, dynamic capacities, and public crisis response strategies by using a survey involving 518 SMEs in China. The results display that SMEs with high levels of digitalization have better crisis response performances than patients with low level of digitalization. Further, a qualitative evaluation suggests that digitalization can help SMEs develop and implement immediate emergency responses and long term crisis administration approaches.