Digitalization is among the key elements that contribute to a company’s growth. It is actually more than the reduction of paper and using computers to log data – it is about creating a new method of doing business that focuses on customer satisfaction, internal communication, and the circulation of information. It is regarding being more efficient, gaining awareness over organization spend and making decisions with correct numbers, and connecting your complete team to a common mission that drives worldwide growth.
It is just a dynamic method that adjustments the ways businesses create and capture benefit in the marketplace. It can also accelerate the obsolescence of your firm’s current business model (BM). As digitalization has the potential to influence a company’s competitive standing, firms should be constantly aware of digitalization’s impact on their BMs and the bordering business environment.
To explore the impression of digitalization on a firm’s BM, qualitative empirical data were accumulated from 12 interviewees working in two particular industries, vehicle and advertising. Due to the fact that equally industries are seen as different business models, this kind of research design and style allowed for an in-depth a comparison of how digitalization impacts the inspiration this article of a firm’s BM.
The interviews revealed that in the media sector, the impact of digitalization was felt the majority of clearly in relation to value creation and worth capture aspects. This was mainly due to the fact that the mass media industry spots strong focus on the customer channel, thus causing digitalization to have an early impact on the company’s BM.
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