Digital transformation and the associated digital maturity levels are important for all companies, as disruptive approaches are constantly creating new platform models
Being behind the latest technology - that's what we've typically been doing for fifty years - is a losing contest. Technology is evolving faster than we humans are willing and able to change. We need to shift perspectives, reevaluate our relationship with technology, and develop the ability to build new capabilities.
The ever-changing business environment, where disruption is becoming a new habit, is leading to an increase in social conflict.
Businesses have higher inertia than technical developments and business strategies. This is due to the human element. Digitalization, automation, Internet of Things, and artificial intelligence are paving the way for a journey without precedence in human history. Currently, we are looking at an era where machines are replacing human workers in many areas. Technology is evolving faster than your organization is ready and able to change. Therefore, most often in transformation processes, the technological issues are first addressed separately. Addressing the organizational dynamic challenges comes later and with subordinate weighting. This imbalance gives rise to inefficiencies and resistance that hinder digital transformation projects. Statistically, the success of transformations is less than 20%.
Digital transformation is a wide-ranging topic. Different conditions therefore apply in every industry, and there are currently also very different degrees of digitization among companies. In order to be able to make uniform statements and create a certain degree of comparability between companies, they must be classified into digital maturity levels. This maturity assessment is based on an evaluation concept that classifies criteria in various dimensions. The main components of this assessment are the companies' infrastructure, business processes and strategic approaches. The aim is then to classify the companies into the corresponding digitization types.
Digital value creation
Efficient value creation structures and processes are needed in a media-convergent value network.
In modern network companies, digital products and the integration of digitization into classic value creation processes are becoming increasingly important. The fundamentals and effects of new digital value creation structures and the associated changes in distribution and communication options - ultimately linked to the measurement of their efficiency and effectiveness - is another profile component of Prof. Dr. Mike Friedrichsen.
The main focus is on analyzing the options for new business models in the context of social media, cloud computing, augmented reality and market research. In addition, practical concepts are created and concrete strategy recommendations and digital products are developed in line with market requirements.
Social Media Business
Social media and especially social networks have a great dynamic, both positive and negative!
Social media offerings have rapidly gained in importance in recent years, not only in Germany but worldwide. Many companies are now seizing the opportunity and using these new communication channels for their internal and external corporate communications (PR, marketing activities, employee communications). Social media has become an important - if not crucial - component of online presences these days, and its implementation has a significant impact on the image and reputation of companies.
In addition to these new fields of research, social media offers the opportunity for interactive exchange via user-generated posts in forums and blogs, which requires new methods (see market research and media usage analyses). Enough potential, then, to take a closer look at the social media business.
Media Economics and Media Management
New business models are critical in the digital age. Technological innovations are fundamentally changing consumer behavior and expectations – and eroding traditional revenue flows.
For more than two decades now, Prof. Dr. Mike Friedrichsen has been analyzing economic developments and changes in the media industry. The focus has always been on the importance of innovative processes and associated business models. The effects of media convergence and the increasing differentiation of the media landscape have created new fields of research.
In particular, the theoretical foundation of media economic interrelationships with an increasingly digital penetration currently determines the research interest.