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The sustainability business model has never been more important than it is today, the pandemic has sped up a wide range of issues and new trends, including board leadership, ESG and the adoption of digital technologies as well as business model transformation.
The era of stand-alone sustainability strategies, with subsequent integration of sustainability into company strategy, needs to end and the creation of resilient business strategies that take sustainability as the foundation needs to begin.
ESG and digital transformation have taken centerstage in the overall business strategy and ways of working of brick and mortar businesses. While some early adopters have built their businesses with digital strategies from the get-go, some were agile enough to quickly make the necessary digital pivots.
The China-ASEAN Business Alliance (CABA) and ONERHT collaborated with the Vietnam Association of Corporate Directors (VACD) to organise the webinar on “Future Business Models: Shaping Tomorrow” for Vietnam on 7 July 2022. The event is also part of VACD’s series of activities to celebrate its 15th anniversary.
The webinar covered how brick and mortar companies have transformed their business models digitally to maintain business resiliency, as well as how the transformation of business models (both new and existing companies) is inevitable in order to create long term economic value.
Our panellists also advised business owners to embrace technology, network with experts in the industry, and use technology to mine data and respond to changes and crises, such as the COVID-19 pandemic. Companies which took the first step towards digital transformation and sustainability well before the pandemic were in a stronger position to stay the course and find technological solutions to overcome challenges and pressures. Such organisations constantly innovate and reflect, asking “What’s Next?” to maintain their competitive edge.
We would like to thank our speakers and all participants for taking time to share their insights and exchange of ideas in the robust and engaging session!