05 Feb Business Digitalization Effects

Digitalization is among the key factors that bring about a company’s growth. It is more than the elimination of paper and employing computers to log info – it can be about building a new way of doing business that focuses on client satisfaction, internal interaction, and the flow of information. It is regarding being more efficient, gaining visibility over provider spend and making decisions with accurate numbers, as well as connecting your complete team into a common mission that drives scalable growth.

It is just a dynamic procedure that changes the ways businesses create and capture value in the marketplace. Additionally, it can accelerate the obsolescence of an firm’s current business model (BM). As digitalization has the probability of influence a company’s competitive position, firms should be constantly aware of digitalization’s effect on their BMs and the adjacent business environment.

To explore the effect of digitalization on a firm’s BM, qualitative empirical info were accumulated from 12 interviewees employed in two distinct industries, automotive and mass media. Due to the fact that the two industries are seen as different organization models, this research design allowed for an in-depth a comparison of how digitalization impacts the inspiration of an firm’s BM.

The selection interviews revealed that inside the media market, the impact of digitalization was felt many clearly regarding value creation and benefit capture factors. This was generally due to the fact business digitalization that the videos industry places strong emphasis on the customer channel, thus causing digitalization to have an early impact on the company’s BM.