Digitalization signifies using digital technologies to improve a company’s business operations, products and services. During your stay on island are many positive aspects to digitization, it also poses a number of problems.
Advantages of digitization
Digitization may improve a company’s internal processes by eliminating manual tasks and reducing costs through data rooms automation. In addition , it can help a company gain new clients or develop its existing customer base.
Drawbacks of digitization
A key disadvantage of digitization is the fact that that digital information could be easily transformed and lost. This can result in errors and misunderstandings.
Additionally , a company may become overly dependent on technology. This can bring about a decrease in human competence and slow production.
The emergence within the digital overall economy has led to a fundamental shift in how firms produce and market their products and offerings. In contrast to classic industries, which in turn rely on expense and labor resources for many and products and services, a digital economy functions with efficiency.
Hence, it is crucial to have a distinct vision with what the digitalization of a provider will include and implement it intentionally.
The implications of digitalization on a firm’s value creation, proposition and capture were investigated in two distinct industries, the media and automotive industry, applying qualitative empirical data collected out of 12 crucial informants. A conceptual establishing depending on dynamic capabilities was used to framework the scientific study (see Figure 1).