Digitalization is one of the key elements that develop a company’s growth. It can be more than the elimination of daily news and applying computers to log data – it can be about setting up a new method of doing business that focuses on customer satisfaction, internal conversation, and the movement of information. It is regarding being more efficient, gaining visibility over business spend and making decisions with appropriate numbers, and connecting your complete team into a common mission that drives scalable growth.
This can be a dynamic process that adjustments the ways firms create and capture value in the marketplace. This may also accelerate the obsolescence of the firm’s current business model (BM). As digitalization has the potential to influence a company’s competitive position, firms has to be constantly aware of digitalization’s impact on their BMs and the adjacent business environment.
To explore the impression of digitalization on a firm’s BM, qualitative empirical info were collected from doze interviewees working in two unique industries, car and press. Due to the fact that the two industries are characterized by different business models, this kind of research design allowed for an in-depth comparison of how digitalization impacts the inspiration www.cloudycrowd.net/2020/03/23/business-digitalization-implications-and-solutions/ of your firm’s BM.
The interviews revealed that in the media industry, the impact of digitalization was felt the majority of clearly in connection with value creation and value capture factors. This was mainly due to the fact that the information industry spots strong emphasis on the customer channel, therefore causing digitalization to have an early impact on the company’s BM.