Digital Business: Key Trends, Business Models, and Collaborations

Digital business

Table of Contents
INTRODUCTION...........................................................................................................................3
Sum up of key trends and benefits of digital technology:......................................................3
Evaluation of new and rising digital business organization model........................................5
The effect of new collaborative relations and collaborations by digital technology..............7
How e-commerce principles could be utilised by organisation..............................................8
CONCLUSION..............................................................................................................................10
REFERENCE.................................................................................................................................11

INTRODUCTION
Digital business is the initiation of new enterprise designs by blurring the digital and
physical worlds. They use automation to create fresh value in business models, consumer
occurrence and the interior capabilities which supports its central operations. It concentrates on
how technology enables organisations for creating new worth and experience that separate firms
and offer them with competitory advantage over rivals. In this report Tesco is considered , which
is a multinational groceries and retailer company established in 1919 by Jack Cohen in United
Kingdom. They are specialized in providing many products from different industries such
clothing, financial, software and so on. In this report, key importance of digital technology and
implication for managing virtual digital technology is discussed. Along with this, evaluation of
new and rising digital business models in context of important organizational issues and the
effect of new merged relationships and strategic alliances through digital technology. Moreover,
the usage of e-commerce principle in the organisation is also mentioned.
Sum up of key trends and benefits of digital technology:
Important trends of digital technology are mentioned below:
Artificial intelligence: It is a latest technology trends as it is utilised to analyse
interactions for identifying underlying connections and insights. They are also known for its
superiority in image and speech recognition, navigation applications, ride sharing applications
and so on. AR switches the shopping experience in particular industry such as fashion and house
décor as the consumer could get better experience for the product without seeing it in person
(Audretsch and et. al., 2019).
Machine learning: It is a subset of AI that is deployed in all types of industries,
developing great demand of skilled professionals. It is a technique of data analysis which
automatically does analytical model building. As it is a sub part of artificial intelligence based on
the idea which system could understand from data, identify patterns and make selection with
minimum human intervention.
Robotic process automation (RPA): It is the utilisation of software to automate processes
such as transactions, interpreting applications, managing data and also responding to emails. It

automates repetitive tasks that individuals used to do. Robotic process automation streamlines
workflows that increases the profitability of the firms, responsive and flexible (Bronson, 2019).
This elevates employee satisfaction, engagement and productivity by eliminating dull activities
from homefrom their working. By using RPA, the organisation provides a customer support and
send the live updates to consumers. This makes the customer support more quick and convenient.
Delivery drone: It is an aerial machine which helps in transportation of goods. Many
organisations have an intent to initialize commercial operations. Tesco is doing two minute
delivery drone trial for launching into a much larger location (Tesco is expanding its 2-minute
drone delivery trial, 2021).
Benefits of digital technology
Social connectivity: Digital technology assists in staying in contact with family, friends
and ork from the ease of the home even if the person is in another region. They could
communicate by words, videos, audios and so on. Regarding this, various applications, websites
has been developed to aid users to socialize.
Communication speeds: Through internet, speeds have increased exponentially which
allows the transfer of large pack of data on the internet and making it doable to stream audio and
video , sending of large data files and accessibility of data virtually across the globe (de Rezende
Francisco and et. al., 2017).
Versatile working: The nature of work has been totally changed by digital technology.
Elevated connectivity depicts that many infrom homedividuals have the opportunities to work
from their homes.
Information storage: Digital technology allows storage of huge amount of data in
compact spaces. A lot of media such as contact information, photo, audio, videos and documents
could be stored on small devices. Along with this, the data could also be kept online, which can
be accessed from anywhere in the world who has an internet access.(DeStefano, De Backer, and
Moussiegt, 2017).
Implications for managing virtual business
Poor communication: There are many digital tools that assists remote group of
individuals to stay connected but these instruments could have a problem of personalisation of
face to face interaction. Communication through writing which includes emails and text
messages, they lack the body language, tone and other subtle non-verbal cues which employees