Digitalization is one of the key elements that bring about a company’s growth. It truly is more than the elimination of daily news and using computers to log info – it really is about setting up a new method of doing business that focuses on customer satisfaction, internal communication, and the circulation of information. It is about being more efficient, gaining awareness over company spend and making decisions with accurate numbers, as well as connecting your entire team to a common mission that drives scalable growth.
It is a dynamic method that alterations the ways businesses create and capture worth in the marketplace. It can also accelerate the obsolescence of a firm’s current business model (BM). As digitalization has the potential to influence a company’s competitive spot, firms must be constantly informed of digitalization’s effect on their BMs and the adjoining business environment.
To explore the effect of digitalization on a firm’s BM, qualitative empirical info were accumulated from doze interviewees working in two specific industries, automobile and news flash. Due to the fact that both equally industries are seen as a different organization models, this kind of research design allowed for a great in-depth a comparison of how digitalization impacts the building blocks my explanation of an firm’s BM.
The selection interviews revealed that inside the media industry, the impact of digitalization was felt most clearly in relation to value creation and benefit capture factors. This was generally due to the fact that the videos industry spots strong focus on the customer channel, therefore causing digitalization to have an early on impact on the company’s BM.