Opportunities and challenges for agricultural companies in digital transformation under the influence of covid 19

HỌC VIỆN NGÂN HÀNG ĐỀ TÀI NGHIÊN CỨU KHOA HỌC SINH VIÊN DỰ THI CẤP HỌC VIỆN NGÂN HÀNG Năm học : 2021-2022 OPPORTUNITIES AND CHALLENGES FOR AGRICULTURAL COMPANIES IN DIGITAL TRANSFORMATION UNDER THE INFLUENCE OF COVID-19 Sinh viên thực hiện: Trần Thanh Hiên – CityU8E– CA8-191 Ngô Trà My – CityU8E - CA8-097 Giảng viên hướng dẫn: Dr Lê Tiến Trung – Viện Đào Tạo Quốc Tế, Học Viện Ngân Hàng HÀ NỘI, 2022 Tai ngay!!! Ban co the xoa dong chu nay!!! 17014128172061000000 DANH SÁCH THÀNH VIÊN THAM GIA NGHIÊN CỨU ĐỀ TÀI STT Họ tên Lớp Mã sinh viên Vai trò Trần Thanh Hiên CityU8E CA8-191 Trưởng nhóm Ngơ Trà My CityU8E CA8-097 Thành viên Declaration We hereby declare that the topic "Opportunities and challenges for agricultural firms in digital transformation under the effect of COVID-19" is the outcome of our own research rather than someone else's We wanted to understand more about this product during our study When researching and writing articles, we looked at a number of clearsource papers as well as instructor guidance Ha Noi, 2022 i Acknowledgement We received a great deal of support and assistance while writing this thesis First and foremost, we want to convey my heartfelt gratitude to the teachers, whose tremendous knowledge in developing research topics and techniques guided us step-bystep throughout the study process We appreciate your patience and all of the opportunities you've provided us to continue our study Your insightful input has inspired us to refine our thoughts and push our study further We'd also want to express our gratitude to the Banking Academy for its invaluable assistance and direction throughout our research The institute has supplied us with all the resources we need to make informed decisions and successfully complete our research We'd also like to express our gratitude to the companies for accompanying and supporting us during the data collection process The study's success was predicated on the information gathered from companies We could not have accomplished this fantastic study report without the assistance of businesses Ha Noi, 2022 ii Abstract Agriculture is the industry that feeds the entire population; it is also a significant part of the economy of many countries, including Vietnam However, as the world's population grows, land becomes scarce As a result, in the digital economy era, all fields are being revolutionized by digitalization therefore technology, and the digital transformation of agriculture in general, and agricultural firms in particular, is critical As a result, the researchers carry out the research with the goal of discovering the factors that influence digital transformation, as well as identify problems that agribusinesses are confronting As a result, the research team recommend solutions ways to overcome negative elements and capitalize on positive ones To begin, the group surveyed employees in the company using a likert scale questionnaire to identify the elements affecting the company's digital transformation process The group conducted a survey of 15 enterprises with 20 samples each and collected 196 samples, then aggregated data and ran data analysis on SPSS to produce the results, collect results and determine the factors affecting digital transformation, inform the general analysis results from the research team's official research, and finally, the research team conducts measures The research is expected to contribute to the body of knowledge as well as to practioners in the agricultural sector iii CONTENTS CHAPTER 1: INTRODUCTION Introduction Significance of the study Research aim and objectives Research method Synopsis CHAPTER 2: LITERATURE REVIEW 2.1 Literature Review 2.2 Digital transformation in Agriculture Company 10 2.2.1 Digital transformation definition 10 2.2.2 Current situation on digital transformation in Vietnam Agricultural companies 11 2.3 Benefits and challenges of digital transformation in agricultural companies 12 2.3.1 Benefits 12 2.3.2 Challenges 15 CHAPTER 3: RESEARCH HYPOTHESES AND RESEARCH METHODOLOGY 18 3.1 Establishing research hypothesis 18 3.1.1: Covid-19 pandemic 18 3.1.2: Government support 18 3.1.3: Technology infrastructure 19 3.1.4: Employee's level of technology 20 3.1.5 Management 20 3.2: Research Design 21 3.2.1 Research method 21 iv 3.2.2: Data collection and Sampling 23 3.3: Measurement Instrument 23 CHAPTER 4: DATA ANALYSIS & RESULT 25 4.1 Quantitative analysis 25 4.1.1 Descriptive statistics 25 4.1.2 Reliability Testing 25 4.1.3 Validity Analysis 26 4.2.4 Correlation analysis 29 4.2.5 Linear Regression Analysis 31 CHAPTER 5: DISCUSSION ON THE FINDINGS 35 5.1 The findings of the study 35 5.2 Discussion on the findings 36 5.3 The link between the findings and research objectives 38 CHAPTER 6: CONCLUSION 39 6.1 The contribution of the study 39 6.2 The recommendation of the study 39 6.2 Limitation of the research 41 6.3 Implications for further studies and improvement 42 REFERENCES 43 APPENDICES 1: 48 APPENDIX 2: RELIABILITY AND VALIDITY OF INDEPENDENT FACTOR 53 APPENDIX 3: RELIABILITY AND VALIDITY OF DEPENDENT FACTOR 62 APPENDIX 4: REGRESSION RESULTS 65 v LIST OF TABLES Table 4.1: Descriptive Statistics 25 Table 4.2: Cronbach’s alpha 26 Table 4.3: KMO and Bartlett’s Test for independent variables 27 Table 4.4: Summary of EFA results for independent factors 28 Table 4.5: Summary of EFA results for dependent factors 29 Table 4.6: Person’s Correlation analysis 30 Table 4.7: Linear Regression Analysis for testing 31 Table 4.8: Testing hypothesis results 33 vi LIST OF FIGURES Figure 1: The proposed research model is as follows (Source: Author’s work) 24 Figure 2: The final research model after testing (Source: Author’s work) 34 vii CHAPTER 1: INTRODUCTION Introduction The business world has witnessed a rapid development of the digital technologies, which forces companies to embark upon digital transformation in order to survive the fierce competition in the global and domestic market Currently, digital economy alongside with digital transformation is a widespread trend that can be found in many areas and business sectors including financial sectors, services, commerce as well as agriculture As for agricultural companies, digitalization has become a critical concern in order to keep up with the change of technology and live up to the high expectation of organizational customers and individual users Digitalization could be considered as a solution for them because it boosts the connectivity of all actors across the agrifood system More specifically, it helps farmers access technical information, obtain higher quality seeds, collect real-time data, improve the traceability of food, and enhance their competitiveness Therefore, it is an innovative solution to problems of the current global food system The advancement of science and technology has resulted in significant changes in management approaches, but businesses in general, and agricultural operations in particular, must prepare for the digital transition Capital and leadership level are important aspects to consider The Vietnamese government is currently increasingly interested in digital transformation, particularly in agriculture, which is receiving special attention due to its importance in the Vietnamese economy As a result, the research team conducted this study with the goal of discovering the elements influencing digital transformation in Vietnam, with the hope that this research will add to the theoretical foundation as well as to the practitioners Vietnam's agriculture is not only meet and exceed its growth targets in 2021, but it will also continue to play the function of "support" for the economy, as well as a vital aspect of societal stability, as long as the land remains stable Disease has put the country in jeopardy Agriculture, forestry, and fisheries climbed by 3.16 percent in the fourth quarter of 2021, according to the General Statistics Office (GDP) The yield of most crops is relatively strong compared to the previous year, livestock has expanded