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Digital Transformation of Businesses in Times of Global Crisis

In: Navigating Through the Crisis – A special Issue on the Covid 19 Crises

Author

Listed:
  • Lavinia-Andreea Gruia

    (West University of Timisoara)

  • Nicolae Bibu

    (West University of Timisoara)

  • Alexandru Roja

    (West University of Timisoara)

  • Doina Danaiață

    (West University of Timisoara)

  • Marian Năstase

    (Bucharest University of Economic Studies)

Abstract

Our aim is to discuss the acceleration of the implementation of digital transformation based on artificial intelligence and data due to the COVID-19 global pandemic. Given the current global context, businesses are fundamentally reshaping. We have identified that digital transformation of businesses is accelerating. Every aspect of the business is changing starting from how employees work, monitoring supply chains, and continuing to how businesses are changing various processes by using automation on a widespread scale. It is important to mention that while some businesses, mostly those with a business model based on online activities, are thriving in this global crisis because of the increasing number of consumers, several other companies are seeing a decline in customer numbers and business turnover. The decline due to COVID-19 lockdown is not seen only in businesses that offer tangible products but also in the digital business of the sharing economy due to decrease of both demand and offer. Consuming patterns of customers are changing, and now more than ever businesses must harvest the data for getting better insight. Our methodology consisted of academic literature research, data analysis, and case study of relevant businesses.

Suggested Citation

  • Lavinia-Andreea Gruia & Nicolae Bibu & Alexandru Roja & Doina Danaiață & Marian Năstase, 2022. "Digital Transformation of Businesses in Times of Global Crisis," Springer Proceedings in Business and Economics, in: Silvia L. Fotea & Ioan Ş. Fotea & Sebastian Văduva (ed.), Navigating Through the Crisis – A special Issue on the Covid 19 Crises, chapter 0, pages 43-62, Springer.
    • Handle: RePEc:spr:prbchp:978-3-030-82755-7_4
    DOI: 10.1007/978-3-030-82755-7_4
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    Cited by:

    1. Florin GROSU, 2022. "A Comparative Analysis of the Fintech Ecosystems in Romania and Estonia," REVISTA DE MANAGEMENT COMPARAT INTERNATIONAL/REVIEW OF INTERNATIONAL COMPARATIVE MANAGEMENT, Faculty of Management, Academy of Economic Studies, Bucharest, Romania, vol. 23(5), pages 646-655, December.

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