Digitalization is one of the key elements that lead to a company’s growth. It is actually more than the removal of newspapers and applying computers to log data – it can be about making a new way of doing business that focuses on client satisfaction, internal conversation, and the stream details. It is regarding being more efficient, gaining visibility over company spend and making decisions with exact numbers, as well as connecting your complete team to a common mission that drives worldwide growth.
This can be a dynamic method that adjustments the ways corporations 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 potential to influence a company’s competitive status, firms must be constantly conscious digitalization of a business of digitalization’s effect on their BMs and the surrounding business environment.
To explore the effects of digitalization on a firm’s BM, qualitative empirical info were accumulated from doze interviewees working in two distinctive industries, vehicle and media channels. Due to the fact that both equally industries are seen as a different business models, this kind of research design allowed for an in-depth comparison of how digitalization impacts the inspiration of the firm’s BM.
The interviews revealed that inside the media market, the impact of digitalization was felt many clearly with regards to value creation and value capture aspects. This was generally due to the fact that the multimedia industry locations strong emphasis on the customer channel, thus causing digitalization to have an early on impact on the company’s BM.
