Digitalization is among the key factors that lead to a company’s growth. It can be more than the reduction of newspaper and using computers to log info – it is actually about setting up a new means of doing business that focuses on client satisfaction, internal communication, and the movement details. It is regarding being better, gaining visibility over enterprise spend and making decisions with accurate numbers, and connecting your entire team into a common mission that drives international growth.
This can be a dynamic process that changes the ways firms create and capture value in the marketplace. Additionally, it may accelerate the obsolescence of the firm’s current business model (BM). As digitalization has the potential to influence a company’s competitive spot, firms has to be constantly conscious my explanation of digitalization’s impact on their BMs and the adjoining business environment.
To explore the effect of digitalization on a firm’s BM, qualitative empirical info were accumulated from doze interviewees employed in two specific industries, automobile and information. Due to the fact that both industries are seen as a different business models, this kind of research design and style allowed for an in-depth a comparison of how digitalization impacts the building blocks of any firm’s BM.
The interviews revealed that in the media industry, the impact of digitalization was felt most clearly in terms of value creation and value capture aspects. This was chiefly due to the fact that the multimedia industry locations strong focus on the customer channel, thus causing digitalization to have an early on impact on the company’s BM.