Digitalization – New Business Models in the Cybersphere

“Many companies and entrepreneurs have not yet understood the scope of digitization,” says Uwe Weinreich, a digital entrepreneur from the very beginning who has been successfully active in the digital market since 1995.

Uwe Weinreich is not only an entrepreneur but also a book author and consultant and explains his view on digitalization in this interview.

This interview with Uwe Weinreich, recorded in 2020, still impresses with its actuality. Uwe Weinreich lays out principles of the current phase of digitization that have endured to this day.

Uwe Weinreich and Weert Jacobsen Kramer discuss important aspects of digitization.

Expert Interview: Uwe Weinreich (Digital Entrepreneur)

Contents of the interview:

• Digitization has not yet been understood
  (1st phase of digitization: Compusation of the world & 2nd phase of digitization: Business model in the cybersphere )
• Networked Economy
• Digitization of value creation vs.new business model in the Cybersphere
• Cybersphere is a chance for the middle class
• Lean Start Up Method
• Co-creation in the Cybersphere
• Business Model Portfolio (Continuous Flow of Business Models)
• 4 core elements for new business models (1. strategy 2. products and service 3. digital distribution channels 4. internal transformation of the company)
• Digital Office /Transformation Office
• Intelligent budget allocation (1. Cost reduction in core business 2. Expansion/growth in core business 3. Investment in new business)

Duration: 24 Minutes

Cybersphere is an opportunity for SMEs

Digitization is currently going through two phases: The first phase was the computerization of the world and the second phase is the emergence of business models in the cybersphere.

The digitization of value chains and the development of new business models in the cybersphere offer companies an excellent opportunity to increase their growth potential.

The Networked Economy is considered by many to be the future of business, as companies are able to leverage a variety of networks and platforms to deliver their products and services.

Cybersphere is an opportunity for SMEs

The cybersphere presents an opportunity for medium-sized businesses in particular, as there is the possibility of addressing a broader target group and developing new business models. Using the Lean Start Up methodology, companies can develop and test new business models in the Cybersphere.

Business Model Portfolio

Continuous business model development is necessary to succeed in today’s digital world. Companies should maintain a business model portfolio to ensure a continuous flow of business models.

There are four core elements that companies and entrepreneurs should consider when developing new business models:

1. Business strategy/business model development
2. Products and services
3. Digital distribution channels
4. Internal changes of the company
   

Transformation Office

A Digital Office or Transformation Office is a specially established team or department in a company that focuses on implementing new digital technologies and processes. The goal of the Digital Office is to prepare the business for digital transformation and ensure it can keep pace with ever-changing technologies.

The Digital Office can help companies seize the opportunities of digitalization by introducing new business models, processes and technologies to increase efficiency and competitiveness. This can include, for example, implementing cloud computing, e-commerce platforms, AI tools or Big Data analytics.

The Transformation Office can also act as an interface between the different departments of the company, ensuring that all departments are involved in the company’s digital transformation. It can also provide training and education programs to educate employees on the new digital technologies and processes and ensure they are able to use them effectively.

Overall, the digital office or transformation office is an important part of the digital transformation of companies. It helps companies seize the opportunities of digitization and ensure that they are able to remain competitive in an increasingly digitized world.

Intelligent allocation of investment budgets

Smart budget allocation is critical to ensure success in the digital world. Companies should, on the one hand, reduce their costs to free up financial resources for expanding their core business and investing in new businesses.

Overall, digitization offers many opportunities for companies to increase their competitiveness and open up new business areas. Companies should take advantage of digitization and adapt their strategies and business models to the requirements of the new era to ensure long-term success.

Podcast