From Data to Business: A Paradigm Shift in Industry

Joe Kaeser
Additional contact information
Joe Kaeser: Siemens AG

A chapter in Evolving Business Models, 2017, pp 141-152 from Springer

Abstract: Abstract Digitalization is pervading all industries, and there is a good reason for that: it offers a vast number of opportunities to create value for customers. The question is: What makes a business model both innovative and viable? That is the question companies face when they launch new business models, and they should answer that question by following a structured approach and by using proven tools to thoroughly analyze existing business models. That helps them make adjustments, trigger new ideas for future business models, and concisely explain to stakeholders how the company creates value for customers. Digitalization is transforming value chains into complex ecosystems in which interaction with customers and suppliers takes place on various levels and at every stage of the value chain in complex ecosystems. At the same time, “The Internet cuts out the middleman.” That should be taken into account when developing new business models. Successful business models create value for customers and strengthen a company’s position in the value chain.

Keywords: Business Model; Customer Benefit; Internet Telephony; Innovative Business Model; Digital Transformation (search for similar items in EconPapers)
Date: 2017
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:spr:mgmchp:978-3-319-48938-4_10

Ordering information: This item can be ordered from
http://www.springer.com/9783319489384

DOI: 10.1007/978-3-319-48938-4_10

Access Statistics for this chapter

More chapters in Management for Professionals from Springer
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().