Digitalization is one of the key factors that lead to a company’s growth. It can be more than the treatment of old fashioned paper and using computers to log data – it really is about creating a new means of doing business that focuses on customer satisfaction, internal connection, and the stream info. It is regarding being better, gaining presence over business spend and making decisions with appropriate numbers, and also connecting your entire team to a common mission that drives international growth.
It is just a dynamic procedure that improvements the ways companies create and capture value in the marketplace. It may also accelerate the obsolescence of a firm’s current business model (BM). As digitalization has the potential to influence a company’s competitive position, firms has to be constantly conscious this article of digitalization’s impact on their BMs and the neighboring business environment.
To explore the effect of digitalization on a firm’s BM, qualitative empirical info were collected from 12 interviewees employed in two particular industries, motor vehicle and media channels. Due to the fact that equally industries are seen as a different business models, this research design and style allowed for a great in-depth comparison of how digitalization impacts the building blocks of any firm’s BM.
The selection interviews revealed that in the media industry, the impact of digitalization was felt most clearly pertaining to value creation and benefit capture elements. This was generally due to the fact that the media industry places strong focus on the customer channel, therefore causing digitalization to have an early on impact on the company’s BM.