Business Digitalization Significance

Digitalization is among the key factors that lead to a company’s growth. It truly is more than the elimination of newspapers and applying computers to log info – it really is about building a new technique of doing business that focuses on customer satisfaction, internal communication, and the move of information. It is regarding being more efficient, gaining awareness over organization spend and making decisions with accurate numbers, along with connecting your entire team into a common mission that drives international growth.

It is just a dynamic method that changes the ways companies create and capture worth in the marketplace. This may also accelerate the obsolescence of the firm’s current business model (BM). As digitalization has the probability of influence a company’s competitive location, firms must be constantly aware of digitalization’s effect on their BMs and the bordering business environment.

To explore the effect of digitalization on a firm’s BM, qualitative empirical info were collected from 12 interviewees working in two unique industries, automobile and mass media. Due to the fact that both industries are seen as different business models, this research style allowed for an in-depth a comparison of how digitalization impacts the inspiration of the firm’s BM.

The interviews revealed that inside the media industry, the impact of digitalization was felt most clearly in terms of value creation and benefit capture elements. This was generally due to the fact that the media industry areas strong focus on the customer channel, thus causing digitalization to have an early on impact on the company’s BM.

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