Digitalization is one of the key elements that lead to a company’s growth. It is more than the elimination of old fashioned paper and employing computers to log info – it truly is about making a new way of doing business that focuses on client satisfaction, internal communication, and the circulation info. It is regarding being more effective, gaining awareness over enterprise spend and making decisions with exact numbers, and connecting your entire team into a common mission that drives worldwide growth.
It is just a dynamic process that improvements the ways businesses create and capture worth in the marketplace. This may also accelerate the obsolescence of an firm’s current business model (BM). As digitalization has the potential to influence a company’s competitive standing, firms should be constantly aware of digitalization’s influence on their BMs and the encompassing business environment.
To explore the impression of digitalization on a firm’s BM, qualitative empirical info were collected from 12 interviewees working in two distinct industries, vehicle and marketing. Due to the fact that the two industries are characterized by different organization models, this research design and style allowed for an in-depth comparison of how digitalization impacts the inspiration https://cloudycrowd.net/2020/03/23/business-digitalization-implications-and-solutions/ of any firm’s BM.
The interviews revealed that in the media industry, the impact of digitalization was felt many clearly pertaining to value creation and value capture factors. This was largely due to the fact that the mass media industry areas strong focus on the customer channel, thereby causing digitalization to have an early on impact on the company’s BM.