Digitalization is among the key factors that play a role in a company’s growth. It is actually more than the eradication of old fashioned paper and employing computers to log data – it is about building a new way of doing business that focuses on customer satisfaction, internal connection, and the stream of information. It is about being more efficient, gaining visibility over provider spend and making decisions with correct numbers, along with connecting your entire team to a common mission that drives international growth.
It is just a dynamic process that alterations the ways companies create and capture value in the marketplace. It may also accelerate the obsolescence of the firm’s current business model (BM). As digitalization has the potential to influence a company’s important site competitive placement, firms has to be constantly aware of digitalization’s impact on their BMs and the adjoining business environment.
To explore the effects of digitalization on a firm’s BM, qualitative empirical info were accumulated from doze interviewees employed in two specific industries, motor vehicle and multimedia. Due to the fact that both equally industries are seen as different business models, this research design and style allowed for a great in-depth a comparison of how digitalization impacts the inspiration of any firm’s BM.
The selection interviews revealed that in the media sector, the impact of digitalization was felt most clearly with regards to value creation and value capture elements. This was primarily due to the fact that the videos industry areas strong focus on the customer channel, thereby causing digitalization to have an early impact on the company’s BM.