The Implications of Digitalization on a Firm’s Worth Creation, Idea and Record

Digitalization suggests using digital technologies to improve a company’s business techniques, products and services. During your stay on island are many positive aspects to digitization, in addition, it poses a number of problems.

Advantages of digitization

Digitization can improve a company’s internal techniques by eliminating manual tasks and reducing costs through automation. Additionally , it can help a firm gain new clients or grow its existing customer base.

Cons of digitization

A key pitfall with digitization is the fact that digital information can be easily transformed and wiped. This can result in errors and misunderstandings.

In addition , a company may become overly dependent on technology. This can result in a decrease in human experience and delay production.

The emergence within the digital economic system has led to a fundamental shift in the way companies produce and market many and services. In contrast to classic industries, which in turn rely on expense and labor resources for many and services, searching for economy works with productivity.

Hence, it is important to have a crystal clear vision about what the digitalization of a company will include and put into practice it strategically.

The ramifications of digitalization on a firm’s value creation, proposition and capture were investigated in two one of a kind industries, the media and automotive industry, employing qualitative empirical data collected out of 12 essential informants. A conceptual setting https://cloudycrowd.net/2019/12/06/digitalization-of-a-business-and-its-consequences/ based upon dynamic capacities was adopted to framework the scientific study (see Figure 1).


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