Digitalization and Its Impact on Business

Abstract

We are now in a new era of business management, where companies have understood that the sustainability and survival of their activities is based on mastering and adapting new technologies to their strategies. The result of the integration of technological power in the management of companies gives rise to digitalization that disrupts business strategies, contributing significantly to the creation of new business models. This profoundly affected the strategic context; changing the structure of competition, business conduct, and ultimately, performance across industries. This paper is a descriptive literature review of recent works discussing the impact digitalization has had on business. In this work, firstly, a theoretical overview of digitalization and its development is presented. Afterwards, the digitalization of business as well as its impact is discussed. The result of this review is a summary of the advantages and disadvantages that digitalization brings to businesses.