Digitalization is among the key elements that lead to a company’s growth. It is more than the eradication of conventional paper and using computers to log data – it can be about setting up a new method of doing business that focuses on customer satisfaction, internal interaction, and the movement of information. It is regarding being more efficient, gaining presence over provider spend and making decisions with correct numbers, along with connecting your entire team to a common mission that drives scalable growth.
It is just a dynamic procedure that adjustments the ways businesses create and capture value in the marketplace. It can possibly accelerate the obsolescence of an firm’s current business model (BM). As digitalization has the potential to influence a company’s competitive situation, firms should be constantly mindful of digitalization’s influence on their BMs and the associated with business environment.
To explore the impression of digitalization on a firm’s BM, qualitative empirical data were accumulated from 12 interviewees doing work in two particular industries, vehicle and marketing. Due to the fact that the two industries www.cloudycrowd.net/2020/03/23/business-digitalization-implications-and-solutions/ are seen as a different business models, this research style allowed for an in-depth comparison of how digitalization impacts the building blocks of any firm’s BM.
The interviews revealed that in the media sector, the impact of digitalization was felt many clearly pertaining to value creation and value capture aspects. This was largely due to the fact that the multimedia industry locations strong focus on the customer channel, therefore causing digitalization to have an early on impact on the company’s BM.
