Digital transformation: The evolution trend for Vietnam businesses in technology era

context. In industries where the prod- uct is mostly physical and customer requires information are basic not yet advanced, companies may begin with transforming the operating model. Oppositely, the industries provide services, where revenue-based service should focus on the customer value proposition will provide immediate benefits. Follow Berman 2012[2], all industries need to carry out parallel redefining customer value propositions and operating models to reach succeed in digital transformation. Nevertheless, the different industries spe- cial paths still need to be in-depth analysis and further tested with a larger sample to provide deeper insights regarding when, why and what dimensions are chosen to be transformed before others. 4.3 Essential resources for transformation Effective digital transformation requires a business to grow several essential resources. Business resources exist in two forms: assets and capabilities. assets are considered tangible resources related physical assets, while capabilities usually relate knowledge and skills inside in the firm’s human, information, organiza- tional structure, and connect assets together to reach advantages. The study of Verhoef 2019[11] indicated the essential digital assets and capabilities needed for digital transformation, namely: digital assets, digital agility, digital networking capability and big data analytics capability Table 2. Essential resources for transformation Assets/Capabili- ties Details Digital assets consist of the information and communication infrastructure, storage of data and accompanying technologies (AI, Machine Learning, IoT, and robotics) Digital agility concerns the ability to sense and seize market opportunities pro- vided by digital technologies. This capability becomes increas- ingly significant when a business shifts to more advanced stages of digital transformation cruise [11] Digital networking capability concerns the organization’s ability to match different users to- gether to solve their same needs through digital means. This capability relates to choose, attract, connect and participate ability a complex set of network stakeholders as customers, 93 KỶ YẾU HỘI THẢO KHOA HỌC QUỐC GIA CITA 2020 “CNTT VÀ ỨNG DỤNG TRONG CÁC LĨNH VỰC” suppliers or third partners aim to strongly motivate the value creation and development of business ecosystem Big data analytics capability refers to ability that collecting, analyzing and utilizing wide data store for all strategic decision making of organization. This capability requires firm have employees or teams that have an- alytical, data management, data visualization skills (Source: P. C. Verhoef, T. Broekhuizen, Y. Bart, A. Bhattacharya, J. Q. Dong,2019) Determining entire necessary resources for digitgal transformation are extremely difficult. So, the busi- nesses should focus on key essential capabilities has been generated from academic knowledge and under- standing themselves. Furthermore, Companies need to integrate the digital and physical components of resources and operations can reach success in their transformation cruise. 5 Conclusion The key target of paper is to provide a clearly understanding about digital transformation, consist of What is the digital transformation? the difference between a digital transformation strategy and IT strategy, the significant stages of digital transformation, Strategic paths to transformation and Essential resources for transformation. Besides, the article showed the need for transformation also the technology foundation for digital change in Vietnam. 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