Digital Business: Trends, Models, Alliances, and Cryptocurrency Impact

DIGITAL BUSINESS

Table of Contents
INTRODUCTION...........................................................................................................................3
MAIN BODY ..................................................................................................................................3
1. Trends and advantages of digital technology with implications for management of virtual
businesses.....................................................................................................................................3
2. Evaluating emerging and new business models with context to ethics and cyber security.....5
3. Impact of new strategic alliances and collaborative relationships through digital technology
......................................................................................................................................................7
4. Impact of cryptocurrency on the modern development of digital business and evaluate of the
bubble bursting of cryptocurrency...............................................................................................8
CONCLUSION..............................................................................................................................10
REFERENCES..............................................................................................................................11

INTRODUCTION
Digital business is considered as the establishment of a business with the help of a digital
platform which has negligible physical presence in the industry. These businesses are based on
the e-commerce model which is helpful for them to trade their products and services online.
Digital businesses are beneficial for increasing the reach of an organization and enhance the
overall experience of the customers towards the products and services of the business.
The current report is based on Amazon which is an e-commerce platforms that provides
online services to the customers at a global level. This report explains the overview of trends and
benefits provided by digital technology and implications for managing virtual business in the
global environment, emerging digital business models in the context of business issues, impact
of collaborative relationships and strategic alliances through digital technology and the burst of
crypto currency bubble in the business environment.
MAIN BODY
1. Trends and advantages of digital technology with implications for management of virtual
businesses
Key trends in digital technology
There have been various trends that have taken place in the digital business environment
at a global level which has been beneficial for the businesses to grow. These developments in the
technology has been useful for the digital businesses to provide better convenience to the
customers and enhance their overall experience (Nwaiwu, 2018). With the help of different
innovations and creative steps, businesses have been able to develop better digital solutions
which have provided them with better convenience and stability. The key trends in the digital
business environment are as follows:
Cloud Technology
The cloud technology is an effective system which offers better convenience to
businesses and customers in order to access appropriate storage, servers, files. People are able to
access these effective systems with the help of different devices such as smartphones, tablets,
computers etc. even at a remote location (Lenkenhoff and et.al., 2018). The main aim of this
trend is to enhance the collaboration of Amazon with its drivers that are spread all over the world
helping in developing a better community. This is further useful for them to grow and generate
better quality of output.

Artificial Intelligence and Machine learning
Investments in AI and ML by businesses has been a major trend in the recent business
environment which is useful for the organization to analyse the data of customers. These digital
trends are effective in order to enhance the strategic management process of Amazon by
focussing on key preferences of customers. Several issues which are faced by them can also be
identified with the hep of this tool which can be beneficial for taking effective measures against
it.
Block Chain
Block Chain technology is a key trend which has gained massive popularity in the global
business environment. With the help of this aspect, organizations in the global business
environment are able to ensure better security of their data and transactional information (Bican
and Brem, 2020). It plays a major role in strengthening the business systems on Amazon which
is necessary in order to enhance the customers experience specifically.
Advantages of digital technology
Social connectivity
Digital technology is a massive development which has provided businesses and
customers to come together and enhance their overall experience of conducting the business
practices. Amazon is able to increase their interaction with their customers by videos, audio or
text exchanges which provides better opportunities to connect with them (Rangaswamy and
et.al., 2020). An effective online website and application has been developed by Amazon which
provides a handy interface to the customers for enhancing their overall experience.
Automation
Automation in the digital business environment is beneficial for increasing smartness of
machines and help the business to enhance their operational capabilities in the industry.
Customers are able to conduct tasks by themselves with the help of new and innovative tools
which are used for the overall benefit of the business. Amazon is able to generate better
productivity with the help of these tools and techniques which are offered by the automation of
services.
Information storage