Digitalization is one of the key elements that develop a company’s growth. It really is more than the elimination of daily news and applying computers to log data – it is about making a new technique of doing business that focuses on client satisfaction, internal communication, and the flow details. It is about being more efficient, gaining presence over firm spend and making decisions with accurate numbers, along with connecting your entire team to a common mission that drives worldwide growth.
This can be a dynamic process that alterations the ways firms create and capture benefit in the marketplace. It can possibly accelerate the obsolescence of the firm’s current business model (BM). As digitalization has the potential to influence a company’s competitive location, firms should be constantly aware of digitalization’s effect on their BMs and the bordering business environment.
To explore the influence of digitalization on a firm’s BM, qualitative empirical data were gathered from doze interviewees employed in two distinctive industries, automotive and videos. Due to the fact that both industries are characterized by different business models, this research style allowed for a great in-depth a comparison of how digitalization impacts the building blocks visit their website of a firm’s BM.
The interviews revealed that inside the media market, the impact of digitalization was felt most clearly in relation to value creation and worth capture factors. This was largely due to the fact that the news flash industry places strong emphasis on the customer channel, thereby causing digitalization to have an early impact on the company’s BM.