Digitalization is among the key elements that lead to a company’s growth. It is actually more than the eradication of newspapers and applying computers to log data – it is actually about building a new way of doing business that focuses on customer satisfaction, internal communication, and the movement details. It is about being better, gaining awareness over company spend and making decisions with exact numbers, as well as connecting your entire team into a common mission that drives international growth.
It is a dynamic process that changes the ways companies create and capture value in the marketplace. Additionally, it can accelerate the obsolescence of any firm’s current business model (BM). As digitalization has the potential to influence a company’s competitive job, firms must be constantly conscious of digitalization’s influence on their BMs and the around business environment.
To explore the result of digitalization on a firm’s BM, qualitative empirical data were accumulated from doze interviewees doing work in two specific industries, motor vehicle and press. Due to the fact that the two industries are seen as different organization models, this kind of research style allowed for an in-depth comparison of how digitalization impacts the inspiration of an firm’s BM.
The interviews revealed that in the media sector, the impact of digitalization was felt most clearly in relation to value creation and worth capture factors. This was largely due to the fact that the press industry places strong focus on the customer visit their website channel, therefore causing digitalization to have an early impact on the company’s BM.