Digitalization suggests using digital technologies to further improve a company’s business techniques, products and services. During your stay on island are many positive aspects to https://cloudycrowd.net/2021/12/06/4-types-of-innovative-business-models/ digitization, it also poses a number of issues.
Advantages of digitization
Digitization can easily improve a company’s internal techniques by eliminating manual tasks and reducing costs through automation. Additionally , it can help an organization gain new clients or grow its existing customer base.
Disadvantages of digitization
A key drawback to digitization is the fact that digital information could be easily changed and erased. This can cause errors and misunderstandings.
Additionally , a company could become overly reliant on technology. This can cause a lack of human know-how and decrease 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 traditional industries, which in turn rely on expense and labor resources for many and expertise, an electronic digital economy works with efficiency.
Hence, it is important to have a clear vision by what the digitalization of a business will implicate and implement it strategically.
The implications of digitalization on a firm’s value creation, proposition and capture were investigated in two exceptional industries, the media and automotive industry, applying qualitative empirical info collected via 12 main informants. A conceptual setting based upon dynamic functions was followed to framework the scientific study (see Figure 1).