Klos, C., Spieth, P., Clauss, T., & Klusmann, C. (2023). Digital transformation of incumbent firms: A business model innovation perspective. IEEE Transactions on Engineering Management, 70, 2017-2033
3 important questions on Klos, C., Spieth, P., Clauss, T., & Klusmann, C. (2023). Digital transformation of incumbent firms: A business model innovation perspective. IEEE Transactions on Engineering Management, 70, 2017-2033
Real digital transformation is only successful when......
a company changes and innovates its entire business model — not just when it digitizes old processes.
The authors describe the business model having three connected parts, name the three:
1. Value Proposition — What you offerThis is the value the firm creates for customers — the product, service, or digital solution that solves a problem or delivers benefits.
2. Value Creation — How you deliver itThis describes the internal processes, resources, technologies, and organizational structures that the company uses to produce and deliver the value proposition.
3. Value Capture — How you earn money from itThis explains how the company turns the value it provides into financial returns — through revenue models, pricing, and profit mechanisms.
⭐ Different papers use different names, but they all describe the SAME thing.
2. Value Creation — How you deliver itThis describes the internal processes, resources, technologies, and organizational structures that the company uses to produce and deliver the value proposition.
3. Value Capture — How you earn money from itThis explains how the company turns the value it provides into financial returns — through revenue models, pricing, and profit mechanisms.
⭐ Different papers use different names, but they all describe the SAME thing.
“In what order do companies need to transform the different dimensions of their business model for digital transformation to succeed?”
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