Business Digitalization Significance

Digitalization is one of the key factors that develop a company’s growth. It can be more than the reduction of paper documents and applying computers to log info – it is actually about creating a new technique of doing business that focuses on customer satisfaction, internal communication, and the flow info. It is regarding being more efficient, gaining awareness over firm spend and making decisions with exact numbers, and also connecting your entire team to a common mission that drives worldwide growth.

It is a dynamic procedure that adjustments the ways companies create and capture value in the marketplace. It may also accelerate the obsolescence of any firm’s current business model (BM). As digitalization has the probability of influence a company’s competitive spot, firms should be constantly conscious of digitalization’s effect on their BMs and the neighboring business environment.

To explore the effects of digitalization on a firm’s BM, qualitative empirical info were accumulated from 12 interviewees doing work in two distinct industries, car and advertising. Due to the fact that both equally industries are seen as a different business models, this research design allowed for a great in-depth comparison of how digitalization impacts the building blocks of any firm’s BM.

The interviews revealed that inside the media industry, the impact of digitalization was felt many clearly in terms of value creation and benefit capture aspects. This was primarily due to the fact that the videos industry spots strong focus on the customer channel, thus causing digitalization to have an early impact on the company’s BM.