Digitalization indicates using digital technologies to boost a company’s business functions, products and services. During your stay on island are many positive aspects to digitization, in addition, it poses a number of issues.

Advantages of digitization

Digitization can improve a company’s important site internal procedures by eliminating manual tasks and reducing costs through automation. In addition , it can help a business gain new customers or grow its existing customer base.

Down sides of digitization

A key disadvantage of digitization is the fact that that digital information may be easily transformed and erased. This can lead to errors and misunderstandings.

In addition , a company may become overly dependent on technology. This can cause a shortage of human proficiency and slow production.

The emergence belonging to the digital economy has led to a fundamental shift in how companies produce and market many and providers. In contrast to classic industries, which in turn rely on expense and labor resources for many and services, a digital economy performs with proficiency.

Hence, it is crucial to have a apparent vision about what the digitalization of a business will involve and implement it logically.

The significance of digitalization on a firm’s value creation, proposition and capture had been investigated in two exclusive industries, the media and automotive industry, applying qualitative empirical info collected by 12 key informants. A conceptual setting based upon dynamic functions was followed to body the scientific study (see Figure 1).