Impact of Digital Business on Global Environment and Key Trends and Advantages of Digital Technology

Digital Business

Table of Contents
INTRODUCTION..........................................................................................................................2
MAIN BODY...................................................................................................................................2
Impact of virtual business on the global environment and also explain the key trends and
advantages of digital technology............................................................................................2
Digital business models in context with key business issues.................................................4
Impact of collaborative relationships and strategic alliances through the digital technology6
How the e-commerce principles can be used in the business.................................................7
CONCLUSION................................................................................................................................9
References:.....................................................................................................................................10
Books and Journals...............................................................................................................10
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INTRODUCTION
Digital business is different from the offline business which involves the use of technology
to provide better experience to the customers and also make the business look different. By the
use of Internet the use of digital business and the scope has been increased. This is the reason
why more business is coming on the online platform(Scholz, Yarime and Shiroyama, 2018). The
business owners are spending more on the online business because of the growth and the
opportunity which is provided by this business. The impact which the digital business has
provided to the success of the business is immense and the has given the strategic opportunity to
the business. The digital business has helped the business to extend their business in a larger way
and to reach to larger number of audiences. Soap media is the digital marketing agency which is
an award winning which is located in UK. The company provides integrated approach to their
clients and provides the full digital strategy in a great manner. This report will cover key trends
and advantages of digital technology and implications for managing virtual business in the global
environment. It will also cover new and emerging business models, collaborative relationships
and strategic alliances and how e-commerce principles have to be chosen.
MAIN BODY
Impact of virtual business on the global environment and also explain the key trends and
advantages of digital technology
The key trends which are taking place in the digital business is immense and for this
businesses are trying to cope up with these changes(Lewandowski, 2020). Soap media is
providing the business with great strategies and website which meets all the key trends of the
digital business. Some of the key trends has been explained below-
 The digital ready culture- Now the demand of the digital business has been increased
and customers also wants the consistent interaction with the brands. More percentage of
people are happy by the fact that business have expanded their business not just in a
traditional manner but have also digitized their work on different websites. The coming
of pandemic has forced the business to come to the online channels and communicate
with the consumers. Soap media has also been demanded as the main business of the
company is to provide the strategies which will be helpful for the marketing.
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 Contactless solutions and the digital payments- As the digital payments and
contactless solutions have been increased in the present time. So the need of digital
business has also been increased as this platform can provide the facility of contact less
payments (Arnold, 2018). Soap media helps the company in developing their business
online which creates the support to the business.
 Data analytics- Data analytics is the method of providing the useful information by the
method if inspecting and finding out the answers from that particular information. The
use of data analytics has been increased in the digital business which helps to convert the
information into the useful information.
The advantages of digital technology has been discussed in context with Soap media-
 Communication speeds- The message with the use of digital technology is fast as
compared with the traditional method of business. Internet provides the speed which
helps in reaching to the larger audience in a very less time. Soap media provide their
clients with the message and the articles which they can display on their website.
 Versatility- The digital technology helps in making the business to be versatile then
those which is used in the traditional method of business. The digital technology helps in
connecting with larger number of people and at the same time also uses less channels to
convey the message to the target people. Soap media provides the strategies which is
excellent and can beat the competitors of the client.
 Global access- The use of digital business is not just to make the connectivity with the
customers easier but also helps to access the global market easily. If the business
becomes famous then more people of different countries would like to know more about
the business and might be excited for using the products and services. This will help in
increasing the business.
Implications of digital business in the global environment-
 High competition- The business has to face the higher competition of the global
environment because there are many other businesses which are doing the same work.
The main impact is on the small business which has just started their business online and
can be impacted with the higher level of competition(Sigala and Haller, 2019). Soap
media has been established to provide the solutions for the business if they are facing
such types of issues.
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