The Implications of Digitalization over a Firm’s Benefit Creation, Idea and Take
Digitalization signifies using digital technologies to enhance a company’s business functions, products and services. During your stay on island are many advantages to digitization, it also poses a number of obstacles.
Advantages of digitization
Digitization can easily improve a company’s internal functions by eliminating manual tasks and reducing costs through automation. In addition , it can help a firm gain new clients or grow its existing customer base.
Drawbacks of digitization
A key drawback to digitization is the fact that digital information can be easily changed and removed. This can bring about errors and misunderstandings.
Additionally , a company could become overly dependent on technology. This can lead to a losing human experience and slow down production.
The emergence belonging to the digital economy has led to a fundamental shift in how businesses produce and market goods and products. In contrast to classic industries, which in turn rely on expense and labor resources for many and solutions, a digital economy operates with performance.
Hence, it is crucial to have a distinct vision by what the digitalization of a provider will involve and put into action it strategically.
The implications of digitalization on a firm’s value creation, proposition and capture had been investigated in two special industries, the media and automotive industry, employing qualitative innovative business models empirical data collected right from 12 critical informants. A conceptual setting up based on dynamic capacities was implemented to frame the empirical study (see Figure 1).
