Digitalization is among the key factors that contribute to a company’s growth. It is actually more than the reduction of paper documents and using computers to log info – it is about making a new method of doing business that focuses on customer satisfaction, internal communication, and the flow info. It is about being more effective, gaining presence over organization spend and making decisions with accurate numbers, along with connecting your complete team into a common www.cloudycrowd.net/2020/07/30/business-digitalization-by-board-room/ mission that drives worldwide growth.
It is just a dynamic procedure that alterations the ways businesses 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 situation, firms must be constantly mindful of digitalization’s effect on their BMs and the nearby business environment.
To explore the effects of digitalization on a firm’s BM, qualitative empirical info were collected from 12 interviewees working in two distinctive industries, automobile and news flash. Due to the fact that both equally industries are seen as different organization models, this research design allowed for a great in-depth comparison of how digitalization impacts the building blocks of an firm’s BM.
The selection interviews revealed that in the media industry, the impact of digitalization was felt many clearly in connection with value creation and benefit capture elements. This was principally due to the fact that the media channels industry spots strong emphasis on the customer channel, therefore causing digitalization to have an early impact on the company’s BM.