Digitization of Business; Need for Recombination During COVID-19

Nguyen Ngoc-Vinh (), Pham Tien-Dung () and Subhankar Das ()
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Nguyen Ngoc-Vinh: University of Economics
Pham Tien-Dung: University of Economics
Subhankar Das: University of Economics

Chapter Chapter 1 in Sustainable Development and Innovation of Digital Enterprises for Living with COVID-19, 2022, pp 1-17 from Springer

Abstract: Abstract The process of digitizing business models during COVID-19 may leverage technologies to give a new lease of life to self-depleting activities of enterprises. Overhaul new activities provide a much-needed boost in every aspect of the business to increase the value proposition for all stakeholders. Innovative business models can come only by combining the existing models during the pandemic. This recombination during COVID-19 requires a lot of tweaking. Digitization can minimize the impact of the pandemic by using technology to enable businesses to reinvent themselves. Doing so can help reduce the losses caused by the outbreak. During COVID-19, it is essential to master the various aspects of developing a new digital business, such as identifying key customers and developing a strategy around them. Creating a product or service is a process that shifts the mindset from something scarce to have unlimited opportunities.

Keywords: Digitalization; Innovation; COVID-19; Sustainable strategy; Renovation of business (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-981-19-2173-5_1

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DOI: 10.1007/978-981-19-2173-5_1

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