Digital Business: Trends, Advantages, and Impacts of Strategic Technological Alliances on ONBUY

Digital Business

Table of Contents
INTRODUCTION ..........................................................................................................................1
MAIN BODY...................................................................................................................................1
An Overview of Trends and Advantages of Digital Technology and Implications for
Managing Virtual Business in the Global Environment.........................................................1
Evaluation of Emerging Business Models to Tackle Cyber Security and Theft....................3
Impacts of Strategic Technological Alliances on The Business and Its Activities................5
E-Commerce Principles To Help With the Business of ONBUY..........................................7
CONCLUSION................................................................................................................................8
REFERENCES .............................................................................................................................10

INTRODUCTION
Digital business can be explained as the process that uses digital technology to redesign
models of business and innovate a company's products and customer experiences. IN this report
an insight of ONBUY, an British online marketplace that provides variety of its products and
services across UK and established in year 2016. This organisation is among the fastest growing
B2C commerce industry dealing in variety of consumer utilities through its digital operations on
millions of products from thousands of retailers. This report covers, advantages and trend of
digital technology for managing virtual operations of business in global marketplace. Moreover,
evaluation of innovative digital technologies for termination of online business issues like fraud
and cyber security is explained. This report also explains about the strategic alliances through
digital technology for helping in business activities. At the end this report covers about the E-
Commerce principles that could be used by ONBUY to enhance its business operations.
MAIN BODY
Digital Business can be said as the wholistic business transformation through digital
transformation for optimising business. By the use of digitalisation techniques and organisation
is able to transform its activities through enhancing consumer experiences and connecting people
with new insights, values, things and experiences (Aghimien, Aigbavboa and Oke, 2020). There
are many advantages of digital technology the first and foremost is helping the company to
engage its customers by creating disruptive business models.
An Overview of Trends and Advantages of Digital Technology and Implications for Managing
Virtual Business in the Global Environment
There are various means and approaches of achieving success through the use of digital
technology. This process includes scientific studies and researches, innovative and critical
thinking, emphasising on knowledge of various processes, and at the end combining the
scientific and process knowledge(Bordeleau, Mosconi and de Santa-Eulalia, 2020). The aim of
digital business model is to cover, attract and maximum number of customers through consumer
engagement who are willing to pay the best prices. There are various components that were
required by ONBUY for using Digital Business mode which are elaborated below:
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 Digital engineering and Scientific Study: It refers to the transformation or transaction of
customers journey, enabling the swift constant innovation that helps to boost new brands
and industry-first technology for enhancing customer expectations.
 Digital Strategy: It can be said as the tool to proliferate and assimilate customer demands
and internal pressure to deliver products and services online. Implementing an effective
digital strategy by ONBUY across the complete business functions crucial for being
authentic to the customers.
 Interaction with Prospects: This, in terms of online business can be said as linkage or
effective use of AI for improving consumer interaction with the business. ONBUY uses
artificial intelligence in its software to make the site more adaptable to consumer
behaviour(Carletti and et. al., 2020).
 IOT or Internet of Things: Smart solutions and products that are powered by the IOT or
Internet of Things along-with the arrival of 5G has touched everybody's lives. ONBUY
aligned its connective activities by creating AI and interlinked connection between the
consumers and businesses to achieve improved efficiency, productivity and
transformation.
Digital business with the people centric views enables its customers to operate with
successful business functions and make their business more effective and profitable. Through
improved digital strategies an organisation can adopt digital innovations that will help an
organisation to stay ahead of its customers. Digital model has its many advantages on the
Business of ONBUY which involves:
 Crating Values by Improving customer Satisfaction: To win in this highly competitive
business world is impossible but being strong and ahead of competition is possible.
Having clear company values of optimising consumer experience and easy availability of
products and services to the consumers helped ONBUY to increase its operations.
Company has showed efforts to keep people safe during the COVID pandemic by
providing its services without hampering the lives of the consumers.
 Widens Connectivity: This is probably the most visible and conclusive advantage that
could be found out of the us of digital business strategy. The presence of digital
technologies such as use of internet, online stores, social networks, blogs, etc. has
provided opportunities to the company of wider visibility and operations across multiple
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