Business Digitalization Implications for Consumer Crisis Response Strategies

Digitalization is the procedure for converting hard/paper files and documents in digital codecs. This allows data and info to be utilized instantly. This makes it easier for your business to manage the operations helping to create fresh opportunities for the purpose of revenue technology. Whether you have outdated legal systems, manual operations that may become automated or perhaps inefficient communication between employees and managers, business digitization can help you fix these issues and boost efficiency.

The COVID-19 outbreak has confirmed the sensible value of digitalization in public places crisis response strategies. However , digitalization is not enough to respond to ongoing hazards. Instead, firms need to strive to turn threats into chances through strategic responses. Its for these reasons it is important for businesses to have dynamic capabilities – a combination of procedures and methods that enables these to adapt when confronted with disruption (George et approach. 2014; Nylen and Holmstrom 2015).

Existing research has found that digitalization can boost firm’s dynamic capabilities by elevating their ability to sense environmental surroundings, to seize opportunities, also to reconfigure solutions. Moreover, these types of capabilities will be critical for firms’ ability to efficiently manage general public crises. Based on these studies, this article is exploring the relationships between digitalization, dynamic functions, and community crisis response strategies with a survey involving 518 SMEs in China. The results present that SMEs with huge 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 immediate emergency replies and long lasting crisis control approaches.