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Research Paper on Use of Digital Media in Business

Added on - 15 Apr 2020

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Running head: BUSINESS STRATEGY IMPLEMENTATION FOR THE DIGITAL WORLDBusiness strategy implementation for the digital worldName of the studentName of the UniversityAuthor Note
1BUSINESS STRATEGY IMPLEMENTATION FOR THE DIGITAL WORLDExecutive summaryThis research paper includes a discussion about the use of the digital media innovative strategiesin the business processes. The chosen country is United Kingdom and the digital mediainnovations are with respect to the major sales channels used across the globe. The organizationchosen for this research paper is AO Retail Limited. This paper consists of a critical analysis ofthe various digital media platforms and the business models which can support these processes.The critical analysis is based on the literature review of the digital strategies in businessapplications. This mainly provides an idea of the intended strategies that have been used by thecompany. In addition, the paper also contains a list of qualitative data analysis which depicts thestatistical usages of the various digital media platforms. The statistics are depicted both in clearview as well as graphical forms to provide a clear understanding of the solutions. In a contextualbasis, the statistics depicts the involvement of the digital strategies in their business model whichin turn has led to greater revenue generation. This paper concludes by recommending the use offurther digital media innovations. This will be used in addressing further business requirementsand will drive more users and traffic to the company website. This in turn will generate moresales and tend to the success and growth of the company. The paper also includes variousanalyses of the digital media strategies which is evident in chapter 4. These analyses representthe various percentages by which the adoption has been effective.
2BUSINESS STRATEGY IMPLEMENTATION FOR THE DIGITAL WORLDTable of ContentsChapter 1 Introduction:....................................................................................................................5Background of the study:.............................................................................................................5Research aims and objectives:.....................................................................................................5Research questions:.....................................................................................................................5Chapter 2 Literature review:............................................................................................................5Business strategies:......................................................................................................................6Digital world:...............................................................................................................................6Digital innovations in business strategies:...................................................................................7Figure 1: Common organizational structure............................................................................8Overview of the company:...........................................................................................................8Introduction:................................................................................................................................9Data collection process:.............................................................................................................10Data analysis:.............................................................................................................................10Chapter 4 Analysis and definitions:...............................................................................................10Figure 2: Comparison of content engagement.......................................................................11Figure 3: Blog post of the company......................................................................................12Figure 4: Comparison of average blog posts over the years..................................................13Figure 5: Landing page of the company sent via emails.......................................................14
3BUSINESS STRATEGY IMPLEMENTATION FOR THE DIGITAL WORLDFigure 6: Comparison of the email opening rates between the year 2010 and 2015.............15Figure 7: DeLone and McLean Model..................................................................................17Figure 8: Stakeholder analysis...............................................................................................19Figure 9: The digital ad spending budget comparison over the year in US dollars...............20Figure 10: Digital marketing channel comparison................................................................21Figure 11: Comparison of the stocks of the company due to digital business adoption.......22Figure 12: Tangibility matrix.................................................................................................23Chapter 5 Conclusion and Recommendations:..............................................................................23Recommendations:....................................................................................................................23Conclusion:................................................................................................................................24Chapter 6 References:....................................................................................................................25Appendices....................................................................................................................................28Appendix 1.................................................................................................................................28Appendix 2.................................................................................................................................29Appendix 3.................................................................................................................................30Table of figuresFigure 1: Common organizational structure....................................................................................7Figure 2: Comparison of content engagement between the years 2012-13...................................10
4BUSINESS STRATEGY IMPLEMENTATION FOR THE DIGITAL WORLDFigure 3: Blog post of the company..............................................................................................11Figure 4: Comparison of average blog posts over the years..........................................................12Figure 5: Landing page of the company sent via emails...............................................................13Figure 6: Comparison of the email opening rates between the year 2010 and 2015.....................14Figure 7: DeLone and McLean Model..........................................................................................15Figure 8: Stakeholder analysis.......................................................................................................17Figure 9: The digital ad spending budget comparison over the year in US dollars.......................17Figure 10: Digital marketing channel comparison........................................................................18Figure 11: Comparison of the stocks of the company due to digital business adoption...............19Figure 12: Tangibility matrix.........................................................................................................20
5BUSINESS STRATEGY IMPLEMENTATION FOR THE DIGITAL WORLDChapter 1 Introduction:Background of the study:This research paper discusses about the innovations of the digital age on the recentmarket of information and communications. This is mainly due to the rise of the trends in themobile and the internet technologies which is responsible for the increased innovative adoptionsof digital media in business models and operations. However, the consensus that must befollowed for the successful implementation of the digital innovations is still incomplete and theneed for a better solution is necessary.Research aims and objectives:In this research paper, the main aim includes a clear discussion of the informationsecurity literatures and the digital innovation concepts. In addition, this paper also aims toidentify the main business models that must be followed to get an idea of the requiredinnovations in the digital media. Furthermore, the objectives of this paper are to criticallyanalyze the various digital media innovative strategies that are in the market.Research questions:The major questions that will be solved by this research paper are depicted in this section:1.What is the use of the information system in the digital age of the business?2.What are the proposed guidelines to be followed?3.What are the main business models that are to be followed?
6BUSINESS STRATEGY IMPLEMENTATION FOR THE DIGITAL WORLDChapter 2 Literature review:This section of the report discusses about the main concepts of the topic.Business strategies:Due to the recent trends and adoption techniques in the market in the information andcommunication sectors, the concept of the business model has been implemented in variousorganizations (Aitamurto and Lewis 2013). In comparison to the traditional model of businessoperations which was supposed to be complex and static, the modern ways of digital businessstrategies are supposed to be dynamic and easy (Storsul and Krumsvik 2013). For example, thetraditional ways of business development involved a large amount of investment for coveringvarious aspects in operations. The most effective way to get more business revenue is to involvethe possibility of new business trends. The company AO Retail Limited has adopted the digitalmarketing business prospective to utilize the growth in that area. It can be seen from theiranalytical report in chapter 4, the growth due to such activities is much high as compared to thetraditional ways of business.Digital world:The digital world refers to the utilization of the digital media which basically consists ofthe internet (Brynjolfsson and McAfee 2012). This is mainly used to transfer the businessesamong the whole global populations (Fichman, Dos Santos and Zheng 2014). The traditionalway of business involved selling products among the local population which was associated tofollowing various steps like marketing for brand awareness, hiring of retail stores and thensuccessful sales driving (Günzel and Holm 2013). The digital implementation removed the needfor marketing campaigns and gave an opportunity to AO Retail Limited to reach the variousconsumers across the globe with minimal investments. The major digital innovation strategies
7BUSINESS STRATEGY IMPLEMENTATION FOR THE DIGITAL WORLDadopted by the company is depicted in the chapter 4 of this research paper which will bring lightinto the main processes adopted and the success made.Digital innovations in business strategies:The digital innovations have led to the development of new types of business models.The first model is the business strategy to business model and the next is the business model tobusiness process model. These proposed business solutions must be done to respond to fourdifferent solutions. They are:1.Presence of a general and comprehensive definitions2.Presence of components to suffice the model3.Presence of a single definition for one organization4.The definition must present the views as presented from the earlier research point of viewA business model is basically used to define the organizational view which denotes thewhole underlying architecture (Simmons, Palmer and Truong 2013). This involves the additionof all conceptual, graphical and textual components which in total drives the organizationstowards a common goal and objective. The main business processes adopted by the companyuses the e-commerce model of reaching the customers where they are given a 2-day ordercompletion guarantee making them more focused on their customer engagement requirements.
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