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Transformation for Supporting Business Resilience in the COVID-19 Pandemic Period: Role of Digitalization

In: Fostering Recovery Through Metaverse Business Modelling

Author

Listed:
  • Le Thanh Tung

    (Faculty of Economics and Public Management, Ho Chi Minh City Open University)

Abstract

The COVID-19 pandemic has caused huge damage to the global economy in the past two years. With some effective vaccines widely used, the most difficult period for enterprises has gradually passed when the world economy has moved forward to the new normal in the post-pandemic era. The paper aims to clarify the role of digitalization in improving business resilience in Vietnam, an emerging Asian economy. The descriptive statistical analysis and the independent-samples t-test were employed for investigating the study issue. The results indicate that digital transformation has brought initial positive outcomes for enterprises during the pandemic and this process is expected to continue to be important in accelerating the recovery of business in the post-COVID-19 pandemic period. However, the study shows enormous challenges for the digitization process to help businesses develop sustainably in the coming time. The study has a critical contribution for the current literature when it is maybe the first evidence of digitalization and business resilience of enterprises in the context of the COVID-19 pandemic. Finally, the paper provides some managerial implications for the digital transformation process in the business community in the near future.

Suggested Citation

  • Le Thanh Tung, 2023. "Transformation for Supporting Business Resilience in the COVID-19 Pandemic Period: Role of Digitalization," Springer Proceedings in Business and Economics, in: Alina Mihaela Dima & Elena Rodica Danescu (ed.), Fostering Recovery Through Metaverse Business Modelling, pages 211-219, Springer.
    • Handle: RePEc:spr:prbchp:978-3-031-28255-3_16
    DOI: 10.1007/978-3-031-28255-3_16
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