Digitalization is one of the key elements that develop a company’s growth. It really is more than the eradication of conventional paper and using computers to log data – it can be about creating a new method of doing business that focuses on customer satisfaction, internal conversation, and the circulation Homepage of information. It is about being more effective, gaining awareness over provider spend and making decisions with exact numbers, and connecting your entire team into a common mission that drives international growth.
It is just a dynamic method that adjustments the ways companies create and capture worth in the marketplace. Additionally, it may accelerate the obsolescence of a firm’s current business model (BM). As digitalization has the probability of influence a company’s competitive location, firms must be constantly conscious of digitalization’s impact on their BMs and the associated with business environment.
To explore the effects of digitalization on a firm’s BM, qualitative empirical data were collected from 12 interviewees doing work in two distinct industries, motor vehicle and information. Due to the fact that both industries are characterized by different business models, this research design allowed for a great in-depth comparison of how digitalization impacts the building blocks of a firm’s BM.
The selection interviews revealed that in the media market, the impact of digitalization was felt many clearly with regards to value creation and benefit capture elements. This was principally due to the fact that the media channels industry places strong focus on the customer channel, therefore causing digitalization to have an early on impact on the company’s BM.