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Business & Information Systems Engineering
Published in: Business & Information Systems Engineering 6/2018

08-10-2018 | Catchword

Digital Innovation

Authors: Prof. Dr. Raffaele Fabio Ciriello, Prof. Dr. Alexander Richter, Prof. Dr. Gerhard Schwabe

Published in: Business & Information Systems Engineering | Issue 6/2018

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Excerpt

Digital technologies contribute to the transformation of large parts of our economy and society. Not only do the five most valuable companies in the world belong to the digital sector,1 also the nature of innovation itself has undergone a digital transformation. The importance of classical product innovations has been reduced in favor of new business models enabled by digital technology platforms. Besides transforming business models, digital innovation also leads to a changing entrepreneurial culture: Digital ventures can grow at a massive rate and scale (Huang et al. 2017) and founders can create temporary monopolies or oligopolies with less external capital (Kurz 2017). Whether this will increase or decrease social welfare, employment rates, and overall quality of life is subject to ongoing debate (cf. Brynjolfsson and McAfee 2013; Davenport and Kirby 2015). …
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Footnotes
1
As per December 31st 2017, the five biggest companies in the world by market capitalization were: Apple Inc., Alphabet Inc., Microsoft, Amazon.com, and Facebook. See https://​en.​wikipedia.​org/​wiki/​List_​of_​public_​corporations_​by_​market_​capitalization#2017 (accessed 30 Aug 2018).
 
2
"The Future of Tesla Service" https://​youtu.​be/​PBbzOBQmk-0 (accessed 30 Aug 2018).
 
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Metadata
Title
Digital Innovation
Authors
Prof. Dr. Raffaele Fabio Ciriello
Prof. Dr. Alexander Richter
Prof. Dr. Gerhard Schwabe
Publication date
08-10-2018
Publisher
Springer Fachmedien Wiesbaden
Published in
Business & Information Systems Engineering / Issue 6/2018
Print ISSN: 2363-7005
Electronic ISSN: 1867-0202
DOI
https://doi.org/10.1007/s12599-018-0559-8

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