Business Model Transformation in Digital Era

Abstract

The objective of this research is to study business model transformation in the digital era. The target group is a group of 557 Gen Y (Generation Y) who are not over 41 years old and Gen Z (Generation Z) who were born between 1997 and 2010. Then the data were collected by convenience selection via online questionnaires and analysed by multivariate analysis of variance (MANOVA). The findings reveal that demographic factors including age, monthly income, and career relate to the business model in the digital era. The perception of information, the Internet use, and creative innovations have a relationship with the business model in the digital era at a significance level of 0.05. Since perceiving information affects consumer behaviour in the digital era, there should be equality in the access of online information; therefore, a policy regarding free internet connection provided by the government agencies such as the National Broadcasting and Telecommunications Commission (NBTC) is recommended.