Digitalization is among the key elements that develop a company’s growth. It truly is more than the treatment of traditional and applying computers to log data – it truly is about setting up a new way of doing business that focuses on customer satisfaction, internal conversation, and the move details. It is about being better, gaining visibility over provider spend and making decisions with correct numbers, and also connecting your complete team into a common mission that drives scalable growth.
This can be a dynamic process that changes the ways businesses create and capture worth in the marketplace. This may also accelerate the obsolescence of your firm’s current business model (BM). As digitalization has the potential to influence a company’s competitive placement, firms has to be constantly aware of digitalization’s influence on their BMs and the bordering business environment.
To explore the result of digitalization on a firm’s BM, qualitative empirical info were collected from doze interviewees working in two unique industries, vehicle and mass media. Due to the fact that both industries are seen as a different business models, this research design allowed for an in-depth a comparison of how digitalization impacts the building blocks of an firm’s BM.
The interviews revealed that inside the media market, the impact of digitalization was felt most clearly in connection with value creation and benefit capture aspects. This was for the most part due to the fact that the videos industry areas strong focus on the customer www.cloudycrowd.net/2020/03/23/business-digitalization-implications-and-solutions/ channel, thus causing digitalization to have an early on impact on the company’s BM.