Key Trends and Advantages of Digital Technology in Managing Virtual Business

Digital Business

Contents
INTRODUCTION...............................................................................................................................3
TASK....................................................................................................................................................3
Overview of key trends and advantages of digital technology and implications for managing virtual
business in the global environment....................................................................................................3
Evaluate new and emerging digital business models in the context of key business issues such as
cyber security and ethics that your chosen business uses or may use................................................6
Impact of new collaborative relationships and strategic alliances through digital technology for
your chosen business.........................................................................................................................7
How e-commerce principles could be used by your chosen business................................................8
REFERENCES..................................................................................................................................11

INTRODUCTION
In a digitalisation world, digital business is referring to the use of technology that
create values in an organization model and also improve customer experience by providing
them values as per their demand. Basically, the procedure of embracing new technologies and
supporting capabilities to establish a strong new digital business model is known as digital
business transformation. Digital enterprises achieve a competitive edge by combining digital
and physical capabilities in novel ways (Chaffey, Edmundson-Bird and Hemphill, 2019).
They perform something that others cannot, and they do them in ways that give it a
competitive advantage. This can be assist in improvising overall performance of company in
digital world. Current report is based on Amazon UK, is one of the popular American
multinational technology company that includes various aspects including e- commerce,
cloud computing, artificial intelligence, digital streaming and many more. Mainly, Amazon is
world’s largest online business that includes different services such as streaming video,
audiobooks, prime video Amazon Music and many more in over the world with the purpose
of attainment of set competitive targets. Assignment is going to discussed about key trends
and advantages of digital technology. In addition to this, new and emerging digital business
models is also mentioned that used for issues such as cyber security and ethics. At last,
principle of e-commerce is also discussed that help company in managing their digital
business at wider market place.
TASK
Overview of key trends and advantages of digital technology and implications for managing
virtual business in the global environment
A business transformation would be one that leverages technology in both internal and
external activities. Since the Online became commonly accessible to businesses and
individuals, information technology has revolutionized the architecture and operation of
enterprises. This shift has fundamentally altered how businesses conduct their day-to-day
business. Adopting digital business principles can aid in increasing productivity, enhancing
the customer experience, and using business processes. Inside this post, we'll look at what it
takes to make a proper internet presence from beginning to end. The incorporation of digital
technology into all areas of a business is known as digital transformation. It causes significant
change in the way a company function (Sousa and Rocha, 2019). Organizations are
employing this approach to restructure their operations in order to maximize efficiency and
lucrative. The method an organization functions is transforming as a result of digital change.

All systems, procedures, workflow, and culture are assessed. This transformation affects
every level of a business and pulls together data from various areas so that employees may
collaborate more efficiently.
Digital technology, has turned the world towards every aspect of modern life. It is
hard to identify or find out a single electronic device which does not incorporate digital
technology. Thus, it can be said that, digital technology has made things very easier by
making it compact, faster and versatile. For example, earlier storing information required big
thick books, but now these can be stored remotely in a small device. With respect to the
question some of the key trends and advantage of digital technology along with its
implication for managing virtual business in global environment is given below:
Edge Computing: This is a new trend, that brings all the data and computation close towards
businesses which as a result reduces the response time and save bandwidth (Senyo, Liu and
Effah, 2019). Due to its sophisticated and specialised resources many companies are now
implementing edge computing. There are some other reasons as well which is probably the
prime advantage of including edge computing.
a) Through edge computing a company can enhance its security by eradicating various
different levels of issues developed by local compliances, data sovereignty, privacy
regulations, and many more.
b) In this fast-changing world time is very important, so company needs somethings that
can reduce the time. Edge computing enhance the speed of the device and thus,
reduces the amount of latency. For example, Amazon UK, needs to deliver the
product within the limited time frame. The process is too long, and between the
progression there might be a possibility that the customer cancels the product. In this
case, with the help of analysing the confining data through edge computing company
can speed up the processing of data by eliminating the unwanted elements.
Talking about the implications on Amazon UK while managing business in global
environment ̧ however, the benefits are many but introducing this can increase the cost of the
entire trend which might further hamper the annual budget of the company. Moreover,
talking about the positive implication, it will give a chance to directly communicate with
experts in IoT platforms with all kinds of safety and security. As a result, people will be more
incline to join on digital platform by not fearing of their data getting leaked. Even more,