Business Digitalization Ramifications

Digitalization is among the key elements that develop a company’s growth. It really is more than the treatment of conventional paper and applying computers to log info – it is actually about creating a new way of doing business that focuses on customer satisfaction, internal interaction, and the stream of information. It is regarding being more efficient, gaining presence over business spend and making decisions with exact numbers, along with connecting your entire team to a common mission that drives worldwide growth.

This can be a dynamic method that adjustments the ways corporations create and capture value in the marketplace. It can also accelerate the obsolescence of your firm’s current business model (BM). As digitalization has the probability of influence a company’s competitive posture, firms should be constantly aware of digitalization’s impact on their BMs and the neighboring business environment.

To explore the effects of digitalization on a firm’s BM, qualitative empirical data were collected from doze interviewees working in two distinctive industries, motor vehicle and mass media. Due to the fact that both equally industries are seen as different business models, this kind of research design allowed for a great in-depth a comparison of how digitalization impacts the building blocks of an firm’s BM.

The interviews revealed that inside the media market, the impact of digitalization was felt most clearly pertaining to value creation and value capture factors. This was predominantly due to the fact that the news flash industry spots strong emphasis on the customer board room channel, thus causing digitalization to have an early on impact on the company’s BM.