A Conceptual Argument on the Digital Resilience Capability within the Developing and Developed Countries

Abstract

Businesses have been dynamically and quickly changing for centuries, largely due to technological improvements. Around the world, intelligent, digital, and integrated representations of technology are proliferating (Panetta, 2018). The Internet of Things (IoT), Virtual human-machine interfaces, and artificial intelligence are examples of cutting-edge business technologies that have substantial growth potential (Brynjolfsson, Hui, and Liu, 2019; Briggs and Buchholz, 2019). However, if a firm is not digitally structured and transformed for this purpose, it will be difficult for technology-driven growth to have the most impact on enterprises. To increase productivity and efficiency, digital transformation requires integrating information, infrastructure, processes, and people with digital aspects and procedures. An excellent example of digital transformation may be seen in the situations of LEGO and Starbucks. After reorganizing and going digital, LEGO climbed the value chain due to this new revenue stream from movies, mobile games, and mobile applications. Starbucks put a premium on customers’ loyalty to create a digitalized customer experience. By offering a simple and convenient purchasing experience, the mobile order and pay app became their main digital transformation objective (Anthony et al, 2020). In essence, digital transformation enabled new economic value exchange and competitive advantage for organizations like Starbucks and LEGO (Walsh, 2017). These and many other digital transformation stories transpire macro or national-level spillovers, with the government of the day being the driving force.