Digitalization is the procedure for converting hard/paper files and documents in to digital codecs. This allows info and data to be contacted instantly. This will make it easier for businesses to manage their very own operations helping to create new opportunities with regards to revenue generation. Whether you could have outdated legal systems, manual operations that could become automated or inefficient communication between workers and managers, business digitization can help you solve these issues and boost efficiency.
The COVID-19 outbreak showed the functional value of digitalization in public places crisis response approaches. However , digitalization is too little to respond to ongoing dangers. Instead, firms need to keep pace with turn dangers into opportunities through ideal responses. That is why it is important www.cloudycrowd.net/2021/12/06/4-types-of-innovative-business-models/ for companies to have active capabilities : a combination of functions and assets that enables these to adapt when confronted with disruption (George et ing. 2014; Nylen and Holmstrom 2015).
Existing research has displayed that digitalization can improve firm’s dynamic features by elevating their capacity to sense the environment, to grab opportunities, and also to reconfigure methods. Moreover, these types of capabilities will be critical for firms’ ability to efficiently manage people crises. Based on these studies, this article explores the human relationships between digitalization, dynamic capacities, and community crisis response strategies by using a survey involving 518 SMEs in China. The results show that SMEs with excessive 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 answers and long term crisis supervision approaches.