Business Digitalization Effects

Digitalization is one of the key factors that contribute to a company’s growth. It can be more than the removal of paper documents and applying computers to log info – it is actually about making a new way of doing business that focuses on customer satisfaction, internal conversation, and the stream info. It is about being better, gaining presence over business spend and making decisions with accurate numbers, as well as connecting your complete team to a common mission that drives international growth.

It is just a dynamic procedure that changes the ways companies create and capture value 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 standing, firms must be constantly aware of digitalization’s impact on their BMs and the encompassing business environment.

To explore the affect of digitalization on a firm’s BM, qualitative empirical data were accumulated from doze interviewees doing work in two particular industries, automobile and marketing. Due to the fact that both industries www.cloudycrowd.net/2020/04/01/digital-transformation-of-the-market-the-data-room-is-the-technology-1/ are characterized by different business models, this kind of research design allowed for an in-depth 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 in connection with value creation and worth capture factors. This was primarily due to the fact that the information industry spots strong emphasis on the customer channel, thereby causing digitalization to have an early impact on the company’s BM.