Business Digitalization Significance

Digitalization is one of the key elements that lead to a company’s growth. It can be more than the reduction of paper documents and using computers to log data – it is about creating a new way of doing business that focuses on client satisfaction, internal conversation, and the move details. It is about being better, gaining visibility over company spend and making decisions with exact numbers, and connecting your entire team into a common mission that drives international growth.

It is just a dynamic method that adjustments the ways businesses create and capture value in the marketplace. It can also accelerate the obsolescence of any firm’s current business model (BM). As digitalization has the potential to influence a company’s www.cloudycrowd.net/2020/03/23/business-digitalization-implications-and-solutions/ competitive location, firms must be constantly conscious of digitalization’s impact on their BMs and the around business environment.

To explore the effect of digitalization on a firm’s BM, qualitative empirical info were accumulated from 12 interviewees doing work in two specific industries, automotive and media. Due to the fact that equally industries are seen as different organization models, this kind of research style allowed for a great in-depth a comparison of how digitalization impacts the building blocks of the firm’s BM.

The interviews revealed that in the media sector, the impact of digitalization was felt most clearly in relation to value creation and worth capture elements. This was generally due to the fact that the news flash industry areas strong focus on the customer channel, thus causing digitalization to have an early impact on the company’s BM.

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