Digitalization is the procedure of converting hard/paper files and documents in digital platforms. This allows info and details to be reached instantly. This makes it easier for businesses to manage their particular operations helping to create fresh opportunities just for revenue generation. Whether you may have outdated legal systems, manual operations that may be automated or perhaps inefficient conversation between employees and managers, business digitization can help you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 dangers. Instead, businesses need to strive to turn hazards into chances through ideal responses. Its for these reasons it is important for companies to have strong capabilities – a combination of operations and methods that enables these to adapt when confronted with disruption (George et approach. 2014; Nylen and Holmstrom 2015).

Existing research has revealed that digitalization can boost firm’s potent functions by elevating their capability to sense environmental surroundings, to seize opportunities, also to reconfigure solutions. Moreover, these capabilities happen to be critical for firms’ ability to efficiently manage people crises. Depending on these findings, this article explores the relationships between digitalization, dynamic capacities, and consumer crisis response strategies with a survey www.cloudycrowd.net/2020/04/01/digital-transformation-of-the-market-the-data-room-is-the-technology-1/ involving 518 SMEs in China. The results present that SMEs with big levels of digitalization have better crisis response performances than patients with low level of digitalization. Further, a qualitative analysis suggests that digitalization can help SMEs develop and implement initial emergency reactions and long-term crisis management approaches.