Digital Business: Key Trends, Models, Collaborative Relationships, and Crypto Currency Impacts

This report discusses the key trends and advantages of digital technology and its implications for managing virtual business. It evaluates digital business models for cyber security and ethics, impacts of new collaborative relationships and strategic alliances through digital technology, and the impact of crypto currency on El Salvador's legal tender adoption. The report focuses on ASOS, a UK-based online fashion and cosmetic retailer.

Digital business

TABLE OF CONTENTS
INTRODUCTION ..........................................................................................................................3
MAIN BODY...................................................................................................................................3
Key trends and advantages of digital technology and its implications for managing of virtual
business........................................................................................................................................3
Digital business models for the business issues such as cyber security and ethics.....................5
Impacts of new collaborative relationships and strategic alliance through digital technology.. .7
Impact of crypto currency and thoughts on El Salvador's legal tender adoption........................9
CONCLUSION..............................................................................................................................11
REFERENCES..............................................................................................................................12

INTRODUCTION
Digital business is the process of applying digital technology to reinvent business models
and transform a company's products and customers experiences. E-commerce is also a form of
digital business which is the buying and selling of goods and services over the internet through a
website. ASOS is the chosen organization for this report which is a UK based British online
fashion and cosmetic retailer. This organization was founded in 2000 and sells over 850 brands
on it website. In this project an overview of the key trends and advantages of the digital
technology and its implication for the management of the virtual business in the global
environment will be discussed. This project will critically evaluate the new and emerging digital
business models in the content of the key business issues such as cyber security and ethics used
by ASOS. This project will be evaluating the impact of the new collaborative relationships and
strategic alliance through digital technology for the chosen organization. In this project the
discussion on the crypto currency like Bitcoin and its adaptation as the legal tender will be
discussed.
MAIN BODY
Key trends and advantages of digital technology and its implications for managing of virtual
business
Some current trends that has been identified as the reality to the online shopping in the E-
commerce sector are,
 Augmented Reality also abbreviated as the AR has been started to show how it can
influence the online shopping experiences of the customers (Astuti and et.al., 2021). AR
has the potential of changing the shopping experience in specific industries. This is the

feature which helps the customers get the experiences of feeling the product without
having to actually see it.
 Searching of items on the e-commerce websites through voice search has been a very
commonly used feature that has been trend for quite a long time. Smart speakers have
been used as the current trends for the enhancing the experience of the customers through
voice search options. This allows the customers to search their needs for shopping
products with the help of a voice command.
 Artificial intelligence has been started help the shoppers in learning about the ways in
which they can use e-commerce websites (Limone and Toto, 2021). AI machines has
been able continuously collected data from the customers for providing them with the
recommendations and for what they are looking for on the E-commerce website.
 On site personalization has been a very effective trend that has influenced the growth of
individual experiences for the E-commerce customers. This personalization is the most
important for influencing the experiences of the customer including both B2B and B2C.
This personalization feature
 Introduction of new ways of payments has been yet another mind-blowing trend that has
taken into effect in the e-commerce organization. As for the current trends the use of
crypto currency has been considered in the market and thus, the business has been able to
introduce the transactions through this method.
 Development of e-commerce subscriptions for bring back the customers again and again
through offering them discounts and offers. This trend of subscription has allowed the
company to bring growth into the organization which allows the business in the
management of the organizational operations (Jang and et.al., 2021).
There are two types of benefits of digital technology in E-commerce which can be
explained with the help of the following table,
Tangible Benefits Intangible Benefits
Digital technology is the reason why the e-
commerce businesses are able to increase their
sales.
With the help of digital technology the
corporate image communication of the brand is
enhanced.
Digital technology helps in the expansion into This is known as the factor which is

new marketing and development of the
business with the existing customer through
new products, this eventually increases
revenue.
responsible for the product development life-
cycle, for enabling faster response to the
market needs.
It helps the business in reducing the costs of
marketing for the organization with the help of
methods such as online sales, reduced printing
and distribution costs of marketing
communication.
Better management of the marketing
information of the customer is considered to be
the key factor which helps the E-commerce
business to develop responsive marketing
communication.
Supply chain cost reductions are known to be
the factors that impacts the level of inventory
which is enhanced by digital technology.
Digital technology helps the business in
providing improved customer services ,
feedbacks and also helps them to improve their
product learning for the future.
Administrative costs reduction is also done
through the influence of digital technology
which helps the business in improving factors
like recruitment, invoice payments and holiday
authorization.
It is helpful for the organization to find new
partners or better support from the existing
partners.
Digital business models for the business issues such as cyber security and ethics
Following are the different digital business model for ASOS to adapt for managing the
cyber security are,
Marketplace Model (peer-to-peer, two-sided marketplace) :
This is a business model which is something we see very commonly specially on the
internet. This is considered to be the seller and the buyers which use the 3rd party platforms for
their trading. It is also known as the factor which influences the trade of goods and services in
the marketplace to be involved with the services of the products. The issues of this digital
business model is with the increased complexity which is involved in its dynamics. This is
considered to be the attraction of the buyers and sellers for the which will lose the buyers. This is
also considered to be the two-sided platform which needs to be carefully provided with the scale

of demand and supply for being able to keep both the sides attracted. The security of this digital
business model depends on the third party software. This creates which is generally managed by
large multinational companies such as Google, Microsoft, Apple or Amazon. This is what
provides the cyber security to this organization during the utilization of the digital business
model. Introduction of the OTP system is a very effective way of influencing tight security in
this business model. Implementation of additional authentication factors can also help with the
growth of the business.
The 4C ICT Business Model Archetypes :
This is the digital business model which is related to the discussions in the literature
which is about the extension of the organizational boundaries. These extending of the
organizational boundaries are to be done through both vertical and horizontal integration. In this
digital business model chronological layers of connection, content, context, and commerce is
used. This digital business model is used for cyber security with providing with a basis to
classify and analyse the business model of suppliers, competitors and also the affect the same
business models of the customers. In this model the loT-MDM systems/services providers as a
tool is used for the analysation of the customer needs. This is the same system which helps in the
providing the cybersecurity to the service providers and meanwhile also tailors the customers
needs. In this model the first layer is connected with the relations to the business model in which
the stakeholders provide connection services (Ammar and et.al., 2021). In this the second layer
focuses on monetizing content and protects the all sorts of online content services which are
classified. For the third layer of this business model the ability of creating monetized user
content equipment is created for system profiles that turn into big meaningful data in for the
information and knowledge through systematic virtual contextualization. The fourth and the last
layer is concerned with the ability to monetize any connection, context specific resources, actors
or communication. This is layer at which the business will be able to identify the customer type
of business, consumer and public types of communication.
Mixed source Business model approach :
It is a business model which is based on the openness of core software and extension
software that offers. This is considered to be very helpful for the open source, open core and
open extensions and proprietary. This model is considered to be very effective for offering
specifically suiting the software industry that is able to argue with similar approach that can be

useful for the other ICT contexts for scaling up the value offerings that can adjusting cooperation
and industrial partnering. It has been identified to be effective for cybersecurity vendors because
it attempts to connect with the fore mentioned classification of different sources which are to be
used in this mixed source approach (Ranta, Aarikka-Stenroos and Väisänen, 2021). Being able to
have different sources for different cores and connections will make the security of the digital
business model more complex and will help the business in the creation and development of
cyber security.
Impacts of new collaborative relationships and strategic alliance through digital technology
The new collaborative relations and strategic alliance can have a very strong outcome to
the digital technology enhancements of the ASOS. This is going to be very helpful for the
business in the management of the organizational operations. This is considered to be the factor
which influences the learning practices of the organization which is considered to be the key
towards the growth of the management.
Collaborative relationship :
Problem solving :
Collaboration with other digital organization can help this company to resolve some
issues related to the digital technology. For example collaborating with the Facebook can help
ASOS provide better marketing to the organization which is going to influence the growth of the
organization.
Collaboration brings innovative ideas :
Collaborative relationship with other organizations can allow the business to bring new
idea into practice for the organization. This is going to help the company in the management of
the organization operations which is helpful for the business.
Improved relationship :
With the help of collaboration the companies are able to bring their operations closer to
each other which allows the learner to bring success to the operations of the company (Yuana
and et.al., 2021). It can be said that the management of the collaborative approach is helpful for
the business in bring new technology and also helpful for the learning experiences of the
employees in ASOS.
Boosts organization's morale :

Collaboration of the organization can help the business in the boosting the organization's
connections with the of the team and development of the business. Boosted morale of the
organization and their employees allows the organization in the increasing the productivity of the
organization.
Higher retention rates :
There are employees which when recognize the key aspects of the learning and
development are able to understand the aspects of higher retention that is considered to be the
factor which influences them towards staying in the organization. Employees staying in the
organization helps the business to increase their productivity and also be able to bring more
consistency and efficiency.
The impacts of strategic alliance for this organization would have the following impacts
on their organizational operations.
STRATEGIC ALLIANCE
Cost :
With the help of strategic alliance the business are able to understand the key aspects of
learning and is able to develop a more cost centred approach that helps in the elimination of the
traditional relationship that pushes the costs onto each other (Garzella and et.al., 2021). This is
considered to be the factor which is helpful for the negotiation of the development of growth.
Value :
The alliance focus on the ultimate customers and partners are considered to be the major
key towards the ways in which the customers are able to pay for the traditional relationships
which view as the cost. This is helpful for perceiving the trade-off of the ways in which the
relationship can help the business create value out of their alliance. It is also considered as the
factor which influences the usual win that is the result of the in process and product problems.
Productivity :
Due to the increase in the productivity of this organization the business is able to
understand the failures better than the variability of the optimized systems which is helpful for
the flow of customers demand. This is also known as the key factor that influences the growth of
the business in the flow of problems which is helpful for increasing the variability of the
introduction of the suppliers into the mix of the organization.
Information :

Alliance is helpful for the business in the open communication which encourages the
transparency of the supply can. This is helpful for the organization in sharing the more powerful
and protected knowledge that the business has. It can be said that the traditional relationships use
the information as a weapon to increase their chances of growth (Ranta, Aarikka-Stenroos and
Väisänen, 2021).
Resources :
The alliance of the business is considered to be able to develop an open communication
which is helpful for encouraging the transparency throughout the supply chain. For the
understanding of the knowledge of the business the shared and most powerful knowledge
protected by the traditional relationship is considered to be the factor of clear advantage that
helps the business in gaining the advantage it requires.
Relations :
Strategic alliance is considered to be the factor which helps the business in the
development of their relationship with other individuals which allow the organization in the
development of the organizational management.
Risk and Rewards :
The risk and rewards which the business is able to gain is considered to be the factor
which allows the organization in the management of their operations which is helpful for the
business in gaining the abilities which are helpful for the growth of their business.
Impact of crypto currency and thoughts on El Salvador's legal tender adoption
Crypto currency is considered to be the currency which is in digital format it is
responsible for the digital investments made by the investors. Crypto currency is known for
investment stance that has allowed the business in increasing the possibility of the crypto
currency which is able to impact the future of the business. Some common crypto is Bitcoin and
Lit-coin which are famous for the business. This is also considered to be the factor which
influences the operations of the organization. The business are affected by the development of
the operational management which influences the growth of the investment sector. This is due to
the operations which influences the organizational operations due to the following factors,
Paying employees with crypto can be more convenient :
This is considered to be a very big merit of the use of crypto currency which has allows
the business in the management of the organization to improve the hassling of converting

currency of the employees from different countries. This will help the company to distribute the
way in the forms of crypto and be effective at the same time in order to understand the
management of the organization operation.
Crowdfunding and raising capital is more transparent ;
Online payments due to the influence of the online platforms is considered to be the
platform which is helpful for raising the money for raising the transparency which is considered
to be the ability of asking for funds. Hence, the crypto currency will be helpful for increasing the
experience of the organization.
Utilization of crypto for business equity :
Since the development of the crypto currency many organizations have been thinking
about the development of their crypto currency which helps me to develop in the management of
growth. This is consideration is very vast and many organizations have been started to provide
the crypto currency with the equity shared which can be effective towards the new trend.
Crypto is considered to be the viable form of payment :
For the organization such as ASOS they have been able to recognize that through paying
the suppliers with the help of crypto can be helpful for them to provide the learning abilities.
Payment for the business to the international retailer in crypto can ease the process of the
organization.
El Salvador became the first country to have introduced bitcoin as a legal tender after a
very swift approval of law only three months prior to the Salvadoran citizens multilateral
institutions, international capital market for achievement of the news that is helpful for the
concerns which provide me the potential benefits. El Salvador since then became a very big
example of how to not adopt crypto currency as a legal tender. Due to which many protests were
seen in the company which influences the learning practices which influenced the growth of the
operations (Yuana and et.al., 2021). The reason why this attempt of introduction of El Salvador's
legal tender failed was due to the impacts that were created in the digital wallet for the software
for storing a user information for payments. There was lack of transparency in the administration
of the bitcoin before making it the legal tender. Due to the high unstableness of this legal tender
this experiment was considered to be a failure of the organizational operations (Bitcoin as Legal
Tender in El Salvador: The First Fifty Days, 2021). The management of the bitcoin as a marginal
use in the world economy has been considered has affected the organization negatively. Some

major reason due to which the organization should not adapt to the crypto currency can be said
as the following,
 For the business understanding the crypto currency is the factor which influences the
ways in which they take their time and effort which creates a negative influence of the
organization.
 Cryptocurrencies have been known to have a tendency of influential into extremely for a
volatile investment.
 Cryptocurrencies have been shown to be the long term investment which is helpful for
them to create a more serious issues.
 Cryptocurrency has been able to serious scalability issues which is the reason due to
which adopting them can affect vulnerability security risks.
CONCLUSION
From the above project it can be concluded that ASOS has been able to successfully be
able to manage the cybersecurity operation. In this project the viability of the use of
cryptocurrencies in the use of organization operations have been discussed. This project has also
been able to adapt to the digital business models for better performance of ASOS and also be
affected in the cybersecurity management.

REFERENCES
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Yuana, R., and et.al., 2021. System Dynamic and Simulation of Business Model Innovation in
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Online
Bitcoin as Legal Tender in El Salvador: The First Fifty Days, 2021[Online]. Available through:
<https://gjia.georgetown.edu/2021/11/30/bitcoin-as-legal-tender-in-el-salvador-the-first-
fifty-days/>