Digital Transformation: The Evolution Trend for Vietnam Businesses in Technology Era

Abstract

The rapid emergence of new digital technologies and business model innovations have changed strongly consumers’ behaviors and expectations, putting enormous pressure on traditional companies and disrupting numerous markets. This has generated challenges and increasing need for organizations to take steps towards innovating their way do business. Then, enterprises start their own digital transformations, rethinking what customers value most and creating operating models that take advantage of newly possible for competitive differentiation. The purpose of this paper is to explore detail the stages of digital transformation, namely: digitization, digitalization and digital transformation, and identify the suitable strategic paths to transformation. Finally, the study discusses about essential resources required in order to successfully digital change journey. The clearly understanding transformation process give help to Vietnam businesses could determine the transformation journey suitable to their specific conditions and adapt to development trend in digital era.