Digital Business | Assignment
Added on -2021-02-16
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Digital Business
Table of ContentsINTRODUCTION...........................................................................................................................1Difference between Digital or Traditional business....................................................................1Digital Business Model...............................................................................................................2MAIN BODY...................................................................................................................................2Digital Business Activities..........................................................................................................2Mode of operations.....................................................................................................................3Market Segmentation..................................................................................................................4Digital Business Environment.....................................................................................................4Market place................................................................................................................................4Market growth.............................................................................................................................5Key growth factors of digital business........................................................................................6External factors impact on business operations..........................................................................6CONCLUSION................................................................................................................................7REFERENCE...................................................................................................................................8
INTRODUCTIONDigital business is the development of business where they entered in the digital world toprovide digital solutions. Companies use the different technology in their operational functionswhich make them task complete in more effective way (Fleisch, Weinberger and Wortmann,2015). Use of technology help the business to provide their capabilities to their user with the helpof digital platform. Currently, almost every organisation use the technology which help themanager or top management in their decision making process. Manager develop various digitalbusiness strategies which is beneficial for the organisation. Digitalization of the business willcreate value for customer, increase their experience, business model and support core operationswith the help of internal capabilities. To be understand better, this report chose the FINCODEwhich is UK based company who deliver various technical solutions to small & medium sizeorganisation. Through developing software applications for the organisation. It is established in2003 and it's working environment is people oriented. Core value of the FINCODE is poweredby innovation, team work, vision, creative thinking deliver top class services. Vision of thecompany is to develop financial technology application for the customers across the world. Itwill help them which make them economically independent where they have assess of finance inshort period. It is began in 2003 with the team of developer who have true passion regardingtechnology & service channels. Mission of the company is to change he way of money to use .So FINCODE help the other businessman to transform their organisation into Fin-techpowerhouse (Guilloux, Locke and Lowe, 2013). Where all the transaction done in electronic ordigital way. Their are various products introduce by the organisation to change he method ofwork such as money transferee application, plaixal is electronic cloud-based time-sheet andcurrency trading tool. This tool include the various currency point of sale and it is linked with thedifferent accounting solutions such as money exchange, forex solutions for the small & mediumsize business. Difference between Digital or Traditional businessDigital Business Traditional BusinessUse of new technology in their operationalfunctions which enhance customer experience,internal capability and create value for theTraditional business is like, open single storein their area where they sell their products orservices to local consumers. 1
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