Digitalization is one of the key elements that lead to a company’s growth. It really is more than the reduction of newspapers and employing computers to log info – it is actually about creating a new technique of doing business that focuses on client satisfaction, internal connection, and the move of information. It is about being better, gaining awareness over organization spend and making decisions with appropriate numbers, as well as connecting your entire team to a common mission that drives scalable growth.
This can be a dynamic method that alterations the ways firms create and capture benefit in the marketplace. It may also accelerate the obsolescence of a firm’s current business model (BM). As digitalization has the probability of influence a company’s competitive position, firms has to be constantly conscious https://cloudycrowd.net/2019/12/06/digitalization-of-a-business-and-its-consequences/ of digitalization’s impact on their BMs and the neighboring business environment.
To explore the affect of digitalization on a firm’s BM, qualitative empirical info were accumulated from 12 interviewees working in two unique industries, car and videos. Due to the fact that equally industries are seen as a different business models, this research design allowed for an in-depth comparison of how digitalization impacts the building blocks of the firm’s BM.
The interviews revealed that inside the media sector, the impact of digitalization was felt most clearly in terms of value creation and value capture elements. This was mainly due to the fact that the videos industry locations strong focus on the customer channel, therefore causing digitalization to have an early on impact on the company’s BM.