Digitalization is among the key elements that contribute to a company’s growth. It is more than the elimination of magazine and applying computers to log info – it is actually about making a new way of doing business that focuses on customer satisfaction, internal interaction, and the flow of information. It is regarding being more efficient, gaining presence over company spend and making decisions with accurate numbers, as well as connecting your complete team to a common mission that drives worldwide growth.

It is just a dynamic process that alterations the ways businesses create and capture worth in the marketplace. It may also accelerate the obsolescence of any firm’s current business model (BM). As digitalization has the potential to influence a company’s competitive location, firms should be constantly informed of digitalization’s impact on their BMs and the adjoining business environment.

To explore the effects of digitalization on a firm’s BM, qualitative empirical info were accumulated from 12 interviewees employed in two distinct industries, automotive and news flash. Due to the fact that equally industries www.cloudycrowd.net/2020/03/23/business-digitalization-implications-and-solutions/ are seen as a different business models, this research style allowed for a great in-depth a comparison of how digitalization impacts the inspiration of any firm’s BM.

The selection interviews revealed that inside the media sector, the impact of digitalization was felt most clearly regarding value creation and benefit capture elements. This was predominantly due to the fact that the videos industry spots strong focus on the customer channel, thus causing digitalization to have an early on impact on the company’s BM.