Digitalization is among the key elements that lead to a company’s growth. It is actually more than the elimination of paper and applying computers to log info – it is about creating a new means of doing business that focuses on customer satisfaction, internal communication, and the movement of information. It is about being more efficient, gaining visibility over company spend and making decisions with correct numbers, as well as connecting your entire team to a common mission that drives worldwide growth.
It is just a dynamic method that changes the ways corporations create and capture worth in the marketplace. Additionally, it can accelerate the obsolescence of any firm’s current business model (BM). As digitalization has the probability of influence a company’s competitive status, firms must be constantly aware this article of digitalization’s influence on their BMs and the encircling business environment.
To explore the impression of digitalization on a firm’s BM, qualitative empirical data were accumulated from 12 interviewees working in two particular industries, car and media channels. Due to the fact that the two industries are seen as different organization models, this 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 inside the media sector, the impact of digitalization was felt most clearly with regards to value creation and worth capture factors. This was chiefly due to the fact that the media channels industry places strong emphasis on the customer channel, therefore causing digitalization to have an early impact on the company’s BM.