Businesses create competitive advantages from digital transformation and green growth

The digital age opens up many new opportunities for businesses but also poses many challenges, especially for business households and small and medium enterprises (SMEs). According to experts, facing the development trend of digital trade, green growth, circular economy, emission reduction, sustainable consumption, etc., businesses need to proactively equip themselves with digital skills and seize the opportunity to "green" production and business to increase competitiveness and not be left behind.

Businesses in the Mekong Delta livestream sales on e-commerce platforms.

Choosing the right digital platform

In the context of rising operating costs and increasingly fierce competition, many businesses are facing difficulties in selling but not optimizing profits, lacking tools to support cost reduction, and not having a sustainable development strategy. Within the framework of the online seminar with the theme "Digital commerce - Green growth: New opportunities for business households and small and medium enterprises" recently organized by the Institute of Enterprise Training and Consulting (iEIT), Foreign Trade University ( Hanoi ), experts said that digital transformation is the foundation for small and medium enterprises to transform green to create new competitive advantages and expand domestic and export markets.

According to Ms. Nguyen Ngoc Bich, Chief of Office of the Institute of Training and Business Consulting, Hanoi Foreign Trade University, the world is changing rapidly with the explosion of digital technology and the increase of environmental challenges. In the era of commerce, it is not only limited to buying and selling goods but also expanding to e-commerce and digital commerce, contributing to creating new opportunities and challenges. In addition, promoting green growth has become an important factor in the sustainable development strategy of every country. In this context, businesses need to proactively update trends and solutions in digital commerce, from applying information technology to building policies to support green growth.

According to Dr. Nguyen Thi Hong Van, Lecturer of the Faculty of Business Administration, Foreign Trade University, currently, enterprises have the opportunity to do business faster, better, and smarter thanks to new technology and decision support systems. When choosing tools and a digital transformation roadmap, enterprises need to prioritize technology according to 4 levels: First are the "must-have" technologies due to safety, legal requirements, or industry-specific requirements, such as electronic invoices. Second are the "very necessary" technologies to equip, meaning they will bring direct profits and increase short-term competitiveness. Third are the "want-to-have" technologies that will contribute to long-term profits. Fourth are the "nice-to-have" technologies, meaning technologies with potential but not yet clear, not urgent, and must be equipped immediately.

In recent times, businesses as well as small and medium enterprises have been digitally transforming and applying e-commerce quite vigorously, but access to digital tools for data analysis and decision making is still limited. Experts also note that businesses not only sell products but also aim to build a network of loyal customers who are willing to share and introduce used products to new customers. Therefore, it is necessary to create interest in optimizing search technologies, choosing digital platforms with appropriate costs to easily approach customers and optimize profits.

Responding to greening requirements

In the period 2025-2030, digital tools will be more widely popularized. Enterprises need to proactively equip themselves with digital skills to grasp digital transformation trends to overcome challenges in the new context. Proactively learning, improving skills and understanding will help enterprises adapt to changes, catch up with the wave of digital growth and green transformation. When analyzing the relationship between digital transformation and green transformation, experts say that enterprises cannot transform green without digitalization. Digitalizing data and processes is the foundation for enterprises to implement and report ESG practices (environment, society, governance). In addition, digital technology also changes all industries. For example, tracing the origin of agricultural products is also a technology that is close to businesses and SMEs when participating in large-scale and reputable supply chains.

In general, combining digital trade and green growth helps businesses create new competitive advantages, expand green export markets, optimize operations, reduce inventory costs, defective products, surplus and reduce emissions. Green factors are a mandatory requirement when businesses participate in the global market. And the process of transforming businesses' awareness must come from changing business thinking, businesses must determine what are the positive impacts that businesses bring to society and the community. Especially for small and medium enterprises, green growth opportunities are reflected in every step, even the smallest. For example, businesses can use IoT to monitor energy, AI to optimize delivery routes (reduce emissions) or participate in green supply chains, recycle, reduce packaging, optimize inventory, etc.

Dr. Nguyen Thi Hong Van shared: When producing and doing business in line with green growth orientation, enterprises need to demonstrate consistency in messages, slogans, images, affirm the effectiveness of green transformation practices, optimize energy-saving operations, participate in green supply chains and have third-party verification of the unit's sustainable development efforts... For small and medium-sized enterprises, when choosing green production and responsible business through small transformations, it also means that enterprises are ready to make larger transformations when they have resources. When technology changes too quickly, it is inevitable that enterprises will face pressure and "run out of breath" before market changes. However, it is important that enterprises choose the right digital tools, at the right time, and in accordance with their existing capacity. Enterprises should start with free tools or standard packages, testing in the short term to see which tools are suitable. At the same time, you can take advantage of participating in the small and medium business community to learn from the successful experiences of similar units and choose appropriate tools to help businesses promote business efficiency.

Article and photos: MINH HUYEN

Source: https://baocantho.com.vn/doanh-nghiep-tao-loi-the-canh-tranh-tu-chuyen-doi-so-tang-truong-xanh-a194821.html