Digital Business: Key Trends, Advantages, and Implications for Managing Virtual Business

This report discusses the key trends and advantages of digital technology and its implications for managing virtual business. It also evaluates new and emerging digital business models and key business issues such as cyber security and ethics. The impact of new collaborative relationships and strategic alliances is evaluated, and the impact of crypto currency development on digital businesses is critically discussed.

DIGITAL BUSINESS

Table of Contents
INTRODUCTION...........................................................................................................................3
MAIN BODY...................................................................................................................................3
Understand the key trends and advantages of digital technology and implications for managing
virtual business in the global environment..................................................................................3
Critically evaluate new and emerging digital business models and key business issues such as
cyber security and ethics .............................................................................................................5
Evaluate the impact of new collaborative relationships and strategic alliances..........................6
Critically discuss the impact of crypto currency development on digital businesses. ................8
CONCLUSION................................................................................................................................9
REFERENCES..............................................................................................................................11

INTRODUCTION
Digital business refers to the process which help businesses to use more and effective
technologies with new values. Technological innovations helps the organizations to offer unique
products to its customer base (Barnes, 2020). The main aim of digital business is to generate the
advantage which helps customers also, where they will pay the price willingly. Argos is a
leading E-commerce business which is also known as a technology led retailer. In a year millions
of people visit to its websites and increases its sales. The current report will discuss the new key
trends as well as advantages of the digital technology and its implications for managing the
virtual business. Also, it includes the critical evaluation of new and emerging digital business
models in such business issues which includes, cyber security and ethics. Further, the report will
evaluate the impact of the new collaborative relationship and its strategic alliances through the
digital technology. Furthermore, it will critically discuss the impact of this development upon the
digital business.
MAIN BODY
Understand the key trends and advantages of digital technology and implications for managing
virtual business in the global environment
Nowadays, technology at its pace to the change and innovations, which is creating a
cause for intensify the rate of change. Although, it is not only the technological world or
emerging technologies are involved in this rapid change (Contreras, Baykal and Abid, 2020).
There are a lot of changes are arrived after the Covid-19 and making the effective change which
helps to know the IT world about these specific changes.
There are some key trends which are involves in the emerging technologies and key trends:1. 5G- many networks and devices are already moving forwards to the 5G trend. Businesses
are also moving towards this trend with the fast cash payment facility, faster connectivity
and for the further development in the digital world.2. Cloud technology- it is considered as an effective system, it offers the better facility to
the customers as well as organizations. It provides the better convenience to audiences
with the files and such cloud storage. Individual are liable to access the effective systems
which help them with the several devices like tables and smartphones.3. Block chain- it is a key trend which helps in gained the popularity in the international
business environment. With the help of these aspects organizations are liable to do the

business into the international market. It ensures that for having a better security of data,
this will be the useful tool for the businesses.
4. Artificial intelligence- this is a key trend in this current global business environment
which is very useful for the organizations for analysing such data of the consumers.
These digital trends considered as very effective for enhancing the strategic management
process. Argos is the one who are focussing on such key preferences of the consumers.
Advantages of digital technology
Automation-
There are different type of automation in the digital business world is very beneficial for
the business. It helps the organization to enhancing its capabilities as well as the smartness of the
machines. Consumers are liable to conducting such tasks which will help them to have an
innovative tool which are using for the benefit of the company. Argos has ability to generate the
productivity as well as the techniques which offered such type of innovations.
Information storage-
Digital technological world is counted as very beneficial for the organizations to store the
large amount of data in which as compare to the smaller space. Large amount of media can be
store through the security which are very helpful to maintain the safety and integrity. This is very
useful for the Argos to enhance and grow their storage capacity in which it also provides the
better experiences to its customer as well.
Social connectivity.
Digital technology has creating a huge development in the businesses which helps the
customers to enhance their experience level with conducting such practices as well. Argos is able
to connect with their customers by sharing the videos and audio which provide the better
opportunities as well. The effective online website as well as the applications provides the proper
programme for enhancing the overall performance and experience level.
Managing virtual space in the global environment
The management of the company of the virtual space in such global environment which
are very beneficial for the Argos. This will reduces the cost formation which creates a major
impact upon the profitability of the organization. It counted as a major positive concern for
organization which are influencing the performance level of the business. For reducing the
carbon footprint from the environment and helps to enhancing the productivity of the company

will show the sustainability of the organization. For generating such effective image of the
business are easily enhancing the business environment with these practices. This factor is
counted as a positive factor in which it helps to increase the productivity level of Argos. With
these aspects business are liable to enhance and grow their success with these opportunities and
creates the biggest influence in which it affects the performance of the business.
Critically evaluate new and emerging digital business models and key business issues such as
cyber security and ethics
Effective business models for such business operations have a benefit for following such
standards which are approaching the development of the organization. This aspect of the
organization are counted as beneficial for the growth and achieve the proper competitive
advantage as well (Di Vaio and et.al., 2020). Cyber attacks creates a huge concern in which it
shows all over performance of the digital business. These may have a negative influence on the
sustainability of the organization. There are many changes which are adapted by the company in
order to increase and growing the business opportunities.
These type of cyber attacks as well as the ethics may have a direct influence upon the quality of
the outcome which are generated.
The ecosystem digital business model- it is an effective but complex model, which are
providing the different type of services to the Argos. In which it will help them to provides the
better experience level to its customers. The proper and strong ecosystem are developing around
the organization where it can effectively monitor the elements and factors. Those such factors
which are influencing the business viability. The strong community will form by the businesses
which are very helpful for enhancing such success of the business for growing up the better
opportunities. The business are able to attract the more consumer base in which it helps to
enhance such productivity which are very essential in the market.
The E-commerce model- this model is counted as a very effective for the organization
which help them to increase the performance level with its business environment. Argos has
adapted this business model which helps to provide the better opportunity and such assurance
which helps to provide the privacy. With this aspect the organization are willingly to creates a
better opportunities as well as the proper profitability. It is counted as a very secure business
model which provides the better assistance in which helps to grow and enhances the competitive
advantage.

The marketplace digital business model- it is also a very special framework which used
to enhance the performance of the business of the organization. Such aspects create a better way
in which it helps generate and grow the better output. It is counted as a very important tool which
helps to create better environment and increasing the productivity level. It is very important for
the Argos to connect with the consumers and protect every kind of informations which are
essential for enhancing and for the growth of the business. This is the way in which it helps the
business to sell and buy the suitable and fair products in the proper time.
These all digital business model are very effective which helps to reduce such possibility
in which it occurs at the time of the cyber attacks. This may create a negative influence on the
sustainability of the overall business in its competitive business. With these activities,
organization are willingly to adopt these opportunities which helps to grow it business
opportunity (He and et.al., 2020). Those aspects may create some time more productivity for the
business which helps to enhance the performance and growth in this competitive era. It is also
counted as a useful tool which helps the business to gain better advantage as well as the growth
and sustainability. With the use of these models it creates a better opportunities for the business
to enhance and grow their business performance.
Evaluate the impact of new collaborative relationships and strategic alliances
There are considered as a two or more companies in which it will combine at the same
time for winning such situation is called as strategic alliance. To the business strategic alliances
it provides the benefits which are into the form of benefit as well. For valuing such expertise it
provides customers better experience as well as customize the new entry into the business world.
The business partners are willingly to make the such scale for the growth in which it allows the
proper strategic planning. This alliances are refers to the form of game changer in which it will
provide the business with such innovations and valuable speed which are creating the different
business environment. Such relationship of the business are known as alliances which helps to
achieve the goals of such organizations which are two or more and have a joint venture. There is
a one example of the strategic alliances is Starbucks. For creating such competitive advantages
from pooling such resources and skills are help in the alliances. The joint venture, equity
alliances and non equity alliances are all categorized strategic alliances.
Joint venture alliances- it basically starts when the two or more companies started the
new business.

Equity strategic- it automatically generates the certain percentage when the equity are
purchased by the different companies.
Non equity strategic- it occurs when there is a sign of the relationship between the two
or more businesses.
For developing the new products as well as the new technologies automatically creates an
opportunity for the Argos. Through the alliances there will be some help for further development
in the Argos. In the term of services many companies are popular for the services which are in
the term of the significant development. In all over the world Argos are one of the most leading
service provider and have a intelligent security system as well. There may be an international
connection between the companies in which it helps to have a further development as well. There
may be some advantages as well as the disadvantages of the strategic alliances which may
influence the further development of the company as well (Kim and Shin, 2019). There are some
complementary goods which will provided some services through the strategies and helps to
increase the performance level of the company. Sometimes it creates some facilities which helps
to reduce some risks as well as the cost deduction strategies as well. The disadvantage of the
Argos is to share their secrets with their strategic partners which influence the performance of
the company. There is a proper creation level which are counted as a competitor of the Argos due
to these alliances. For gaining the share in this competitive market there will be a need of this
formation.
For such collaborative relationship there will be a major benefits and drawback also
which will helps to know about the advantages of the digital business in this economy. These
collaborations are simply helps to know about to achieving such advantages which are in the
favour of the company. The digital world makes very easy formation for the Argos which helps
to make a proper arrangement between the ventures as well. The digital business helps the Argos
in which it helps to increase the overall performance ability. It is counted as an important part in
the business which helps to grow in the management and creates a frequent effort which helps to
increase overall performance growth. Businesses are more liable to collaborate with such popular
influencers in which it helps to increase the value of the customers. With these continuing
strategies it helps the businesses to have a proper growth. From knowing about these practices it
will surely help the businesses in which it helps to grow the advantage and have a proper
development strategy.

Critically discuss the impact of crypto currency development on digital businesses.
For the both such financial crisis and the internet burst bubble, crypto is creating a crash
rivalry. In the time of the modern development the crypto currency has creates a loss for the
business and after that it started recovered that loss which are creating a major help for the
business. Crypto currency provides the importance for business with the transparency as well as
the accountability which allows proper interaction between the parties. For such central bank
currencies related issues are established by the third parties which are in the form of
intermediaries which are almost the part of the digital transaction as well. There is an underlying
block chain technology which are used for the mechanisms and have such functions in which it
creates an encryption for controlling unwanted transactions. There are another benefits which
refers to the decentralization of the crypto currencies which are not managed by the governments
at any cost. Crypto currencies are not restricted to be in the specific geographical area it has a
special form which allows to have this in all over the world.
Nowadays, the in the world there are a lot of businesses which are associated with such
digital tools. Though it is necessary for the organization for adapting such latest technologies
which influence the business as well. For adapting such technology will increase the level of
trust between the share market. For the development of the digital business there are the such
ways in which the crypto currency is affecting the organization. To such impacts it seems like to
have a more interest which creates the more competition in such financial services. There are the
increasing ratios in the financing in which it helps the Argos for developing into such countries
in which it is through the cryptocurrencies (Luo, 2021). For improving such payments systems
there is a need for the reduction in the fee transaction as well as such payment modes. For the
purpose of the business transaction as well as the such business operations are in the digital
world which are assessing the cryptocurrencies. There are many challenges which are faces by
the Argos in the time of adopting the cryptocurrencies.
Transactions are the source which makes more secure as well as quicker and easier in
which with help of the cryptocurrency (Marttinen and et.al., 2019). For purchasing such crypto
customers which does not require to withdraw the money in which also not require paying with
the credit cards and such cashless transactions. In this era of the digital business where the crypto
currency helps the Argos for having every kind of records which are required for the transaction.
Cryptos can be saved as digitally as well which helps to get more security in the blockchain entry

which are published in a different form. It frequently does not require any kind of processing
fees, though there is no middle man for holding such kind of funds. There are no involvement of
any kind of government regulations as well as the financial institutions in the cryptocurrency. In
the whole world there cryptocurrency is most popular in which it will show no regulation of bank
(O'Dwyer and Gilmore, 2018). Markets are very attracted by the crypto in which it will help the
businesses as well for the proper expansion of the Argos. Where there are the benefits it has a
drawback as well in which it tries to expand its business as well.
The chances for the increasing the productivity of the businesses are arises when it
involves the sales of the crypto currency (Ritter and Pedersen, 2020). There are the negative
impact to the Argos in which it shows the charge book for such payment system. For resolving
such problems there is high need to take a lot of efforts as well as the time. There should be a
necessity in which it needs to have a confirmation of both parties in which without this, the
transaction cannot take place (Rust, 2020). Due to the different kind of behaviour there is a need
crypto currency which will impact the performances of the organization. For the constant
purchase there is need of the revaluation as well as such fluctuations which are creating the
performance level of the business (Sestino and et.al., 2020). There is future of the business in
which it will help the Argos with the proper expansion. This will frequently help the digital
business with the smooth processing in the business (Stachová and et.al., 2019).
CONCLUSION
From the above report, it has been concluded that by applying such modern technologies
which helps to create a transformation in the company. For gaining a better experience of the
customers digital business is necessary. The report has been provided the views about the better
customer experiences which valued the new products as well. The report has been concluded that
digital business helps the organization to creates the connection with the people. Thus, the report

also provided the managing criteria of the virtual business and the advantages of the digital
technology. Further, the report has been concluded the key trends in such digital technology
which helps to grow a digital world of the Argos. Along with the such evaluation it has been
highlighted the impact of such emerging technology upon the digital business with such issues.
Moreover, the report has been concluded the strategic alliances and their relationship with the
new collaborations which creates an impact on the Argos. Thus, the report has also concluded
about the such ethics and cyber security by the business. It also provided the knowledge on such
impacts which were affected the productivity and efficiency by the Argos in the digital
technology.

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