Digitalization is among the key elements that lead to a company’s growth. It is more than the elimination of magazine and applying computers to log data – it is actually about setting up a new way of doing business that focuses on client satisfaction, internal connection, and the stream details. It is about being more efficient, gaining presence over organization spend and making decisions with appropriate numbers, as well as connecting your entire team into a common mission that drives worldwide growth.
It is just a dynamic process that changes the ways businesses create and capture worth in the marketplace. Additionally, it can accelerate the obsolescence of a firm’s current business model (BM). As digitalization has the probability of influence a company’s competitive situation, firms has to be constantly mindful of digitalization’s effect on their BMs and the neighboring business environment.
To explore the effects of digitalization on a firm’s BM, qualitative empirical info were accumulated from 12 interviewees doing work in two unique industries, automobile and media. Due to the fact that the two industries are seen as a different business models, this kind of research design and style allowed for an in-depth a comparison of how digitalization impacts the inspiration this article of your firm’s BM.
The interviews revealed that in the media sector, the impact of digitalization was felt many clearly in connection with value creation and worth capture elements. This was typically due to the fact that the media industry areas strong emphasis on the customer channel, thereby causing digitalization to have an early on impact on the company’s BM.