Business Digitalization Significance
Digitalization is one of the key factors that bring about a company’s growth. It can be more than the removal of newspapers and applying computers to log data – it is about setting up a new means of doing business that focuses on client satisfaction, internal connection, and the flow info. It is regarding being more effective, gaining presence over business spend and making decisions with exact numbers, as well as connecting your entire team to a common mission that drives worldwide growth.
It is just a dynamic method that alterations the ways businesses create and capture value in the marketplace. It can possibly accelerate the obsolescence of any firm’s current business model (BM). As digitalization has the potential to influence a company’s competitive spot, firms has to be constantly conscious this article of digitalization’s impact on their BMs and the surrounding business environment.
To explore the impression of digitalization on a firm’s BM, qualitative empirical data were gathered from doze interviewees working in two specific industries, car and multimedia. Due to the fact that both industries are seen as a different business models, this kind of research style allowed for a great in-depth a comparison of how digitalization impacts the inspiration of an 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 worth capture aspects. This was primarily due to the fact that the advertising industry locations strong focus on the customer channel, thereby causing digitalization to have an early impact on the company’s BM.