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Business Digitalization Implications

05/02/2024 Chawisa Rattanasetha

Digitalization is among the key elements that contribute to a company’s growth. It can be more than the treatment of newspaper and applying computers to log data – it really is about making a new means of doing business that focuses on customer satisfaction, internal connection, and the circulation info. It is about being more efficient, gaining awareness over provider spend and making decisions with exact numbers, and connecting your entire team into a common mission that drives scalable growth.

It is a dynamic method that alterations the ways firms create and capture benefit in the marketplace. It can possibly accelerate the obsolescence of any firm’s current business model (BM). As digitalization has the probability of influence a company’s competitive posture, firms must be constantly aware www.cloudycrowd.net/2020/07/30/business-digitalization-by-board-room/ of digitalization’s effect on their BMs and the encircling business environment.

To explore the influence of digitalization on a firm’s BM, qualitative empirical info were collected from 12 interviewees doing work in two particular industries, motor vehicle and multimedia. Due to the fact that equally industries are seen as different business models, this kind of research style allowed for a great in-depth a comparison of how digitalization impacts the inspiration of the firm’s BM.

The interviews revealed that in the media sector, the impact of digitalization was felt most clearly regarding value creation and value capture elements. This was primarily due to the fact that the information industry locations strong emphasis on the customer channel, therefore causing digitalization to have an early impact on the company’s BM.