Digital Business: Advantages, Key Trends, Ethics, Cyber Security, and Collaborative Alliances

DIGITAL BUSINESS

Table of Contents
INTRODUCTION...........................................................................................................................3
MAIN BODY...................................................................................................................................3
Advantages of digital technology................................................................................................3
Key trends in digital business......................................................................................................4
Implication of digital technology on virtual business..................................................................5
Evaluation of the emerging digital business model in context of the issues such as ethics and
cyber security...............................................................................................................................5
Impact of digital technology through strategic alliance and collaborative alliance.....................7
E-commerce principles................................................................................................................9
CONCLUSION..............................................................................................................................10
REFERENCES................................................................................................................................1

INTRODUCTION
Digital business refers to the process of using advanced digital technology that helps in
creating value for the business (Sousa. and Rocha, 2019). Also, it helps in enhancing the internal
capabilities of the business and customer satisfaction. Nowadays companies are using several
differentiated digital technologies that is helping the business to connect and to build a
relationship with its customers. With an aim of expanding the business into international market
for higher profit maximisation. While implementing the digital technology it is very important
that the organisation abide by the ethics and principles. With the strategic alliance and
collaborative relationship it helps business in using the opportunities in best possible ways.
The report shows the advantages of the digital technology and the key trends in the
digital technology in context with virtual business. Also it represents the emerging the model
with the issues faces by the virtual business. Further the report evaluates the impact of strategic
alliances and collaborative relationships through digital technology.
MAIN BODY
Advantages of digital technology
In business digital technology refers to the using if technologies that adds value in the
business models, customer experience (Senyo and Effah, 2019). Also, it has capabilities that
helps in supporting the core business operations of an organisation. For the growth and success
of a business, digital technology plays a vital role. It helps business in several ways that is by
enhancing the communication with its customers by offering effective customer services that
helps in enhancing customer satisfaction. Thus, it results in enhancing the brand image of the
organisation in front of customers which helps in attracting more customers towards the business
(Rangaswamy and et.al., 2020). Also, with using digital technologies, it helps businesses in
improving the quality of their products and services hat helps in higher customer satisfaction
level. Thus, this results in increasing the sales of the organisation with higher profit margin and
leading the organisation towards success and growth.
However, it can be analysed there are several advantages of the digital technology in the
organisation. That is it helps businesses in connecting with its target audiences and providing
them products and services according to their requirements and preferences. On the other hand, it
also helps organisation in improving its production and manufacturing process with the use

advance technology that helps in lowering the production cost with higher efficiency. With the
use of modern technology it will help business in reducing their cost of production and thus,
increasing their profit margins (Ismail and Zaki, 2017). Thus, it can be evaluated that in
Amazon, with the advancement in its digital technology and digitalisation of its business, it has
helped the organisation in providing quality services to its consumers with the aim of higher
profit maximisation. Also, it has helped the Amazon in gaining a competitive advantage over its
competitors which as in turn resulted in the success of the business and led the company towards
growth.
Key trends in digital business
With the rapid changes in the fast growing world there has been a massive growth in the
digital technology (Ukko and et.al., 2019). With faster processes, technology has been evolving
at rapid pace. There has been several trends that have emerged in the digital technology that are
given as follows:
 ROBOTIC AUTOMATION PROCESS- It is considered as a key trend in the world of
digital technology. Robotic automation process refer to the processing of different
business transactions and interpreting the information and data. It helps the organizations
in using of processes which are quicker and faster. Thus, providing the business with
higher profit margin with accurate results.
 ARTIFICIAL INTELLIGENCE- Another significant trend in the digital business is the
application of artificial intelligence. AI is considered one of the new trends in the digital
world because of its effects on the work done (Nwaiwu, 2018). AI is also known for its
speech recognition superiority, assistance and image etc. AI helps in providing services
that are personalised and caters to the individuals needs and requirements of the
customers that helps a business in connecting with its customers.
 QUANTUMN COMPUTING- Another key trend in the digital technology world is the
quantum computing. Taking the benefit and advantage of quantum phenomena, it is a
form of computing such as superposition and quantum enlargement. Thus, it helps
businesses in interpreting, analysing and monitoring of data without focusing on its
sources.