Digitalization indicates using digital technologies to further improve a company’s business functions, products and services. During your stay on island are many advantages to digitization, additionally, it poses a number of complications.

Advantages of digitization

Digitization may improve a company’s my explanation internal functions by eliminating manual tasks and reducing costs through automation. Additionally , it can help a business gain clients or grow its existing customer base.

Cons of digitization

A key disadvantage of digitization is the fact that digital information could be easily re-structured and wiped. This can bring about errors and misunderstandings.

Additionally , a company could become overly dependent on technology. This can cause a loss of human experience and slow production.

The emergence from the digital financial system has led to an elementary shift in the manner corporations produce and market their products and expertise. In contrast to traditional industries, which usually rely on high costs and labor resources for many and companies, an electronic economy works with performance.

Hence, it is necessary to have a clear vision by what the digitalization of a organization will entail and apply it smartly.

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, applying qualitative empirical info collected by 12 key informants. A conceptual environment based on dynamic features was implemented to body the scientific study (see Figure 1).