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Digitalization: Impact on Companies
The technological revolution has changed the way businesses operate, causing them as well as customers and the general public to be more reliant on electronics, digital platforms, and software. The research topic of interest for this work is the impact of digitalization on companies. The reason behind choosing this issue is that the company for which I work is an international e-commerce organization that is dependent on digitalization in order to attract more customers.
As for the findings that illustrate the impact of digitalization on business models, there are plenty. For example, the study by Bouwman and colleagues (2018) illustrates that big data influences every firm in terms of innovation. Since innovation is the main driver in the context of market competition, countless organizations tend to digitalize their platforms in order to be more accessible and provide their services in a more convenient form. Moreover, another study by Ribeiro-Navarrete and colleagues (2021) shows that digitalization improves the performance of companies by lowering rates of human errors and enhancing their presence in the market. Finally, Kokina and Blanchette (2019) emphasize that digitalization nowadays allows companies to be less reliant on human labor and ensure more structured work. Therefore, digitalization provides more efficient and reliable work results, allowing companies to work and progress faster.
Lastly, I would like to speculate about the future influences of digitalization on companies. While nowadays, people are exposed to fully digitalized platforms in specific industries, in the future, more sectors will be permeated by such trends. I believe that more firms will be digitalized and enhanced in terms of efficiency since people tend to use shift their attention toward Internet-based platforms from TV and written material. Therefore, IT companies will continue to be in demand due to their cloud services and engineering services.
References
Bouwman, H., Nikou, S., Molina-Castillo, F. J., & de Reuver, M. (2018). The impact of digitalization on business models. Digital Policy, Regulation and Governance, 20(2), 105-124. Web.
Kokina, J., & Blanchette, S. (2019). Early evidence of digital labor in accounting: Innovation with Robotic Process Automation. International Journal of Accounting Information Systems, 35, 100431. Web.
Ribeiro-Navarrete, S., Botella-Carrubi, D., Palacios-Marqués, D., & Orero-Blat, M. (2021). The effect of digitalization on business performance: An applied study of KIBS. Journal of Business Research, 126, 319-326. Web.
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