Business Digitalization Significance

Digitalization is among the key elements that contribute to a company’s growth. It can be more than the elimination of traditional and employing computers to log data – it truly is about building a new way of doing business that focuses on customer satisfaction, internal interaction, and the stream of information. It is regarding being more effective, gaining presence over firm spend and making decisions with exact numbers, along with connecting your complete team to a common mission that drives worldwide growth.

It is a dynamic method that adjustments the ways corporations create and capture benefit in the marketplace. This may also accelerate the obsolescence of any firm’s current business model (BM). As digitalization has the probability of influence a company’s competitive position, firms has to be constantly conscious of digitalization’s effect on their BMs and the encircling business environment.

To explore the result of digitalization on a firm’s BM, qualitative empirical data were accumulated from 12 interviewees working in two particular industries, automotive and multimedia. Due to the fact that both equally industries are characterized by different business models, this kind of research design allowed for a great in-depth a comparison of how digitalization impacts the inspiration of a firm’s BM.

The selection interviews revealed that in the media sector, the impact of digitalization was felt many clearly with regards to value creation and benefit capture factors. This was typically due to the fact that the news flash industry locations strong emphasis on the customer channel, thereby causing digitalization to have an early on impact on the company’s BM.