Description
As digitalization is rewriting the rules of competition, companies need to adapt to external changes or they will be left behind. Indeed, digitalization bears a lot of economic potential and is undoubted to have tremendous impacts on the economy. Many companies already launched digital initiatives. However, most of them lack an understanding of the value digitalization can create. They often neither know the organizational value created, nor define accountability measures or specify targets. Therefore, as a first step this paper aims to provide clarity by relating digital benefits listed in literature and highlighting the underlying value drivers. Our results help companies to identify digital business value, but also lower the hurdles that prevent them from scaling up their digital effort.
The Manifold Fruits of Digitalization - Determining the Literal Value Behind
As digitalization is rewriting the rules of competition, companies need to adapt to external changes or they will be left behind. Indeed, digitalization bears a lot of economic potential and is undoubted to have tremendous impacts on the economy. Many companies already launched digital initiatives. However, most of them lack an understanding of the value digitalization can create. They often neither know the organizational value created, nor define accountability measures or specify targets. Therefore, as a first step this paper aims to provide clarity by relating digital benefits listed in literature and highlighting the underlying value drivers. Our results help companies to identify digital business value, but also lower the hurdles that prevent them from scaling up their digital effort.