Digitalization is among the key elements that bring about a company’s growth. It is more than the removing of old fashioned paper and using computers to log data – it really is about setting up a new way of doing business that focuses on client satisfaction, internal interaction, and the stream of information. It is about being more efficient, gaining awareness over firm spend and making decisions with correct numbers, along with connecting your entire team to a common mission that drives international growth.

It is a dynamic method that improvements the ways corporations create and capture value in the marketplace. This may also accelerate the obsolescence of the firm’s current business model (BM). As digitalization has the potential to influence a company’s competitive situation, firms must be constantly informed of digitalization’s impact on their BMs and the encircling business environment.

To explore the impact of digitalization on a firm’s BM, qualitative empirical data were collected from doze interviewees doing work in two distinct industries, automobile and advertising. Due to the fact that both industries are seen as different business models, this research design allowed for a great in-depth a comparison of how digitalization impacts the inspiration cloudycrowd.net/2023/05/16/the-benefits-of-data-analysis of your firm’s BM.

The interviews revealed that inside the media sector, the impact of digitalization was felt the majority of clearly in connection with value creation and value capture elements. This was principally due to the fact that the press industry spots strong focus on the customer channel, therefore causing digitalization to have an early on impact on the company’s BM.