Digitalization is the strategy of converting hard/paper files and documents in to digital forms. This allows data and details to be contacted instantly. This makes it easier for businesses to manage their operations helping to create new opportunities for revenue era. Whether you have outdated legal systems, manual operations that could become automated or perhaps inefficient conversation between staff and managers, business digitization can help you fix these issues and boost output.
The COVID-19 outbreak revealed the functional value of digitalization in public crisis response approaches. However , digitalization is the ideal to respond to ongoing hazards. Instead, companies need to seek to turn dangers into chances through tactical responses. That is why it is important for businesses to have dynamic capabilities ~ a combination of procedures and assets that enables them to adapt when confronted with disruption (George et ing. 2014; Nylen and Holmstrom 2015).
Existing research has revealed that digitalization can improve firm’s dynamic features by elevating their capacity to sense environmental surroundings, to seize opportunities, and reconfigure solutions. Moreover, these kinds of capabilities will be critical for firms’ ability to successfully manage general population crises. Based upon these studies, this article explores the connections between digitalization, dynamic capacities, and general population crisis response strategies through a survey innovative business models involving 518 SMEs in China. The results display that SMEs with increased levels of digitalization have better crisis response performances than those with low-level of digitalization. Further, a qualitative evaluation suggests that digitalization can help SMEs develop and implement initial emergency reactions and long-term crisis administration approaches.