This study examines how digitalization can affect businesses and the role that business models play in this process. The authors focus on the automotive industry and the media industry, two industries that are experiencing different challenges in the context of digitalization. The findings of this study have practical implications for companies across different industries. While these companies may be in a position to benefit from digitalization, they must also be prepared for the pitfalls of this process. This article provides an overview of the challenges and opportunities that digitalization will bring to business.
Digitalization can impact any part of an organization, including operations, sales and marketing. The most successful digitalization efforts start by designing a future state that has no constraints. Then, after designing a compelling future state, the company can introduce constraints. Once the compelling future state is defined, challenges can be discussed and resolved. In addition to defining a vision, digitalization plans should also define how digitization can impact the organization’s processes and how it impacts the business.
Digitalization can also affect business models. It can be a source of cost optimization, transformation, or extension of an existing model. It can even cause a disruption in an established market, threatening to wipe out the incumbents. To understand this process better, researchers should consider three stages of digitalization: the early stage, the late stage, and the final phase. In this stage, the process begins by building a theoretical research object, which will form the foundation for empirical research.
The first step is to digitize all of the processes and information. This means digitising every document, data, and processes. The goal of digitalization is to improve business processes and increase productivity. The benefits are many, and it is important to choose the right path for your business. This process is changing the way we work, and the way we make decisions is changing. The next phase will require a new approach to digitalization.
While there are many benefits to digitalization, there are also some drawbacks. The most significant barrier to implementing digitalization in a company is employees. Despite the benefits of digitization for businesses, digitalization can be detrimental to the bottom line of a company. In this case, a digitally-oriented employee can be a huge threat to a company’s reputation. If this is the case, then a business must ensure that it can handle the risks associated with digitization.
A digitalization strategy should be a priority for all businesses. While digitalization is an important way to improve the efficiency of a business, it is also a necessary tool to increase revenue. Incorporating digitalization into a business can have significant financial benefits. The process of internal change should be a priority to help the company succeed in a digitalized environment. The process of external change should start with a few changes.