Digital Business: Advantages, Key Trends, Cyber Security, Ethics, Collaborative Relationships, E-commerce Principles

DIGITAL BUSINESS

Table of Contents
INTRODUCTION...........................................................................................................................3
MAIN BODY...................................................................................................................................3
Advantages of digital technology................................................................................................3
Key trends in digital technology..................................................................................................4
Implication of digital technology on managing virtual business.................................................4
New and emerging digital business models in context of business issue such as cyber security
and ethics for Amazon.................................................................................................................5
Impact of new collaborative relationships and strategic alliances through digital technology for
your chosen business ...................................................................................................................6
E-commerce principles that be used by Businesses.....................................................................8
CONCLUSION..............................................................................................................................10
REFERENCES..............................................................................................................................10

INTRODUCTION
Digital business is process of making use of digital technology in order to create new
value for business, enhance customers satisfaction and internal capabilities of the company. In
current scenario, companies are making use of different digital technology to connect and build
relationship with customers to grow and expand their business in international market. There are
e-commerce principles that has to be abided by the chosen company while performing its
respective task in external environment. Collaborative relationship and strategies alliance
through digital technology helps company to make the best use of available opportunities. This
report has covered crucial information relayed to key trend and advantages of making use of
digital technology for managing virtual business. Furthermore, it can be stated that new and
emerging digital business model to understand business issue such as cyber security and ethics.
At last it has described about E-commerce principles that are been used by the company while
performing its task and responsibilities.
MAIN BODY
Advantages of digital technology.
Digital technology in business refer to the use of technology in the creation of new value
in the customer experiences, business models and the capabilities which supports the core
operations of the business. Digital technology is very important for the growth and success of the
business (Verhoef and Bijmolt, 2019). That is it helps the organisation in many ways it helps
them in providing better communication with their customers that results in effective customer
services and thus, helps them in improving their brand image and loyalty by attracting more and
more customer towards their brans and business by providing them high quality products and
services that provides them higher satisfaction. Thus resulting in increasing profits for the
company by increasing the sales of the company and leading the company towards growth and
success.
There are various advantages of digital technology in business that is it helps business
connect with its audiences and provide their customer according to their needs and preferences.
Also, it helps organisation in improving their manufacturing and production process that is with
advance technology. It will help organisation in reducing the cost of production and result in
higher profit maximisation. On the other hand, in case of amazon digitalisation has helped the

company increase its profit maximisation with providing quality services to their customers and
it has provided a competitive advantage to the company over its customer. Thus, it has resulted
in growth and has led the company towards success.
Key trends in digital technology.
In today's world with the fast pace of growing technology there has been a rapid growth
in the digital technology (Rangaswamy and et.al., 2020). Technology has been evolving at rapid
pace with faster processes. There has been various trends in the digital technology world that are
as follows:
 ARTIFICIAL INTELLIGENCE- AI continues to be one of the new digital technological
trends due to its effects on how work is done. Artificial Intelligence is known for its
superiority in speech recognition. Image, assistance and many more. However, AI help
the business in connecting with its customers by providing them personalised customers
service and catering their individuals needs and requirements.
 ROBOTIC PROCESS AUTOMATION- Another key trend on the digital technology
world is the robotic automation processes, it is process that helps in processing the
business transactions, interpreting the applications and data. It helps businesses in using
processes that are faster and quicker and provides them with accurate results for high
profit margins.
 QUANTUMN COMPUTING- Another significant trend in the digital technology is the
quantum technology. It refers to a form of computing that takes benefits of the quantum
phenomena such as quantum entanglement and superposition. It helps businesses inn way
that they can easily analyse, monitor on the interpretation of data regardless of the source.
Implication of digital technology on managing virtual business.
The digital technology implies by a business can make or break a company. Nowadays
business processes have become complex (Ismail and Zaki, 2017). For organisations to be
successful it very important that they adopt to digital innovation which help them in achieving
their goals and objectives efficiently and make them stay ahead of their competition. However,
the implication of digital technology can have both positive as well as negative impact on the
virtual businesses. That is the positive impacts of digital technology has affected the virtual
business of Amazon that is it has helped them in various aspects like it has reduced the overhead
costs and has helped in increasing the employee satisfaction. Also, it has resulted in higher