Digitalization is among the key elements that lead to a company’s growth. It truly is more than the elimination of newspapers and employing computers to log data – it can be about setting up a new means of doing business that focuses on client satisfaction, internal connection, and the stream details. It is about being more effective, gaining awareness over company spend and making decisions with appropriate numbers, as well as connecting your complete team to a common mission that drives scalable growth.
This can be a dynamic method that adjustments the ways companies create and capture benefit in the marketplace. Additionally, it may accelerate the obsolescence of any firm’s current business model (BM). As digitalization has the potential to influence a company’s competitive standing, firms has to be constantly informed www.cloudycrowd.net/2021/12/06/4-types-of-innovative-business-models/ of digitalization’s influence on their BMs and the surrounding business environment.
To explore the influence of digitalization on a firm’s BM, qualitative empirical info were accumulated from doze interviewees employed in two distinct industries, vehicle and advertising. Due to the fact that the two industries are seen as different business models, this kind of research design allowed for a great in-depth a comparison of how digitalization impacts the building blocks of the firm’s BM.
The interviews revealed that inside the media market, the impact of digitalization was felt many clearly in connection with value creation and benefit capture elements. This was mainly due to the fact that the media industry locations strong emphasis on the customer channel, therefore causing digitalization to have an early on impact on the company’s BM.