Digitalization is the process of converting hard/paper files and documents in to digital types. This allows data and information to be seen instantly. This makes it easier for your business to manage their operations and helps to create new opportunities pertaining to revenue era. Whether you have outdated legal systems, manual operations that may end up being automated or inefficient connection between personnel and managers, business digitization can help you solve these issues and boost output.
The COVID-19 outbreak shown the functional value of digitalization in public places crisis response strategies. However , digitalization is the ideal to respond to ongoing hazards. Instead, businesses need to strive to turn dangers into opportunities through strategic responses. Because of this , it is important for companies to have dynamic capabilities – a combination of procedures and information that enables these to adapt when confronted with disruption (George et ‘s. 2014; Nylen and Holmstrom 2015).
Existing research has shown that digitalization can improve firm’s powerful capacities by elevating their ability to sense the environment, to catch opportunities, and also to reconfigure information. Moreover, these kinds of capabilities are critical for firms’ ability to efficiently manage open public crises. Based on these results, this article is exploring the romantic relationships between digitalization, dynamic functions, and people crisis response strategies through a survey https://cloudycrowd.net/2021/12/06/4-types-of-innovative-business-models/ involving 518 SMEs in China. The results present that SMEs with substantial levels of digitalization have better crisis response performances than those with low-level of digitalization. Further, a qualitative research suggests that digitalization can help SMEs develop and implement short-term emergency responses and long-term crisis administration approaches.