Digitalization is among the key elements that develop a company’s growth. It is actually more than the reduction of newspaper and applying computers to log info – it can be about making a new means of doing business that focuses on client satisfaction, internal connection, and the circulation details. It is about being better, gaining awareness over enterprise spend and making decisions with accurate numbers, and connecting your entire team to a common mission that drives worldwide growth.
It is just a dynamic process that alterations the ways firms create and capture benefit in the marketplace. It can also accelerate the obsolescence of your firm’s current business model (BM). As digitalization has the potential to influence a company’s competitive status, firms has to be constantly aware of digitalization’s impact on their BMs and the nearby business environment.
To explore the influence of digitalization on a firm’s BM, qualitative empirical data were accumulated from 12 interviewees working in two unique industries, vehicle and advertising. Due to the fact that both industries are seen as a different organization models, this kind of research design allowed for a great in-depth a comparison of how digitalization impacts the building blocks of any firm’s BM.
The interviews revealed that in the media sector, the impact of digitalization was felt the majority of clearly pertaining to value creation and value capture elements. This was principally due to the fact that the press industry locations strong focus on the customer helpful site channel, therefore causing digitalization to have an early impact on the company’s BM.