Analysis of Bitcoin, M-commerce, Disruptive Tech & Digital Marketing

This report provides an overview of Bitcoin, M-commerce, disruptive technology, and digital marketing. The Bitcoin section describes it as a secure and simple transfer of value online without intermediaries, highlighting its secure supply and opportunities for low-cost payments but also noting regulations and fraud risks. The M-commerce section discusses its role in facilitating electronic transactions via mobile devices, its benefits for businesses in cost-effective promotions and customer service, and the potential drawbacks like sectoral limitations and optimization costs. The disruptive technology section emphasizes its potential to displace established technologies and transform industries, noting the importance of identifying threats to business models. Finally, the digital, online, and mobile marketing section explores how businesses use these strategies to engage customers and build brand communities, while also acknowledging potential issues and the need to balance online and traditional marketing approaches. The report concludes by referencing various sources, emphasizing the importance of understanding and adapting to these evolving technological and marketing landscapes.

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ACCOUNTING CASE

Bitcoin
 Description
Bitcoin allows for secure and simple transfer of value online without any role of
intermediaries. It utilizes cryptography to control its transactions and creation, thereby
considered valuable just like money. Overall, users can send and receive bitcoin value with
an acceptable privacy level.
 Key learning
Bitcoin supply is cryptographically secure and therefore, no organization or individual can
manipulate its protocol, thereby permitting the core of bitcoin to be trusted for being
predictable, transparent, and neutral. Besides, all crucial data is readily prevalent on the block
chain for everybody (Shaw, 2017).
 Opportunities and threats
The effectiveness and low-cost provisions in bitcoin can allow businesses make payments in
an enhanced manner without risk of fraud or errors. However, tight regulations are prevalent
concerning bitcoin money supply and hacks have also been found, thereby facilitating in
major frauds.
 Personal reflection
Despite all barriers, it can be believed that payment tools like debit cards, credit cards, etc
will become too tempting for businesses, merchants, and business-to-business (B2B)
applications to resist.
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M-commerce
 Description
Mcommerce assists in communication and electronic transactions using electronic devices
like mobile phones having an internet connectivity. Mcommerce serves various purposes like
ubiquity, pro-active functionality, localization, immediacy, etc. Based on researches,
Mcommerce is enhancing like a weed and is expected to grow more in the upcoming tenures.
This has in turn assisted in developing the significance of wireless technology on a whole.
Overall, Mcommerce has its advantages and disadvantages on different business models that
must be carefully considered before implementing the same.
 Key learning
Mcommerce has altogether assisted consumers in buying and selling of goods and services.
Further, new technologies that has permitted mobiles and other electronic equipments have
also made wireless transactions feasible. Both mcommerce and ecommerce has assisted in
development of a competitive strategy in the current working environment that has altogether
enhanced the living standards of individuals and organizations.
 Opportunities and threats
Businesses can utilize Mcommerce and Ecommerce to facilitate cost-effective promotions
and marketing, thereby developing a competitive strategy in the market to gain more
customers. Besides, they can also offer better customer services through such strategies and
gain an opportunity to reduce their transaction and overhead costs as a whole. However,
owing to sectoral limitations, businesses can face issues to progress in such field. Besides, in
many cases, businesses incur high optimization expenses to conduct e-business.
 Personal reflection
The outcome of conducting e-business can be both advantageous and disadvantageous for
individuals and businesses. Even though e-business can facilitate in the provision of various
efficacies to people, yet it may also offer several negative consequences and therefore, too
much reliance on such IT systems must be avoided. Overall, both online and offline means
must be considered by businesses and individuals as e-business may interrupt smooth flow of
operations at any time.
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Disruptive technology
 Description
Disruptive technologies displace an already established technology by shaking up the entire
industry that designs a completely new industry. Moreover, various trends facilitate in present
and future technology disruptors.
 Key learning
Digital twins and intelligent apps can facilitate in making every day’s work easier in nature.
Moreover, blockchain and distributed ledgers can transform the industry operating models by
sequentially grouping value exchange transactions into blocks (Crosby, 2015).
 Opportunities and threats
Businesses can easily explore drivers of change and identify their significant impact on
various elements of its business model to ensure whether it is vulnerable to disruption or not.
However, businesses often become a victim of their own success as they fail to act even after
identifying major threats to their business model (Crosby, 2015).
 Personal reflection
Technologies that challenge well-established industries promises opportunity for few and
instil fear in others. Hence, identification of threats in business model must be undertaken to
avoid negative consequences.
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Digital, online, and mobile marketing
 Description
In the present scenario, various organizations use digital, online, and mobile marketing to
constitute their business model. This is because these are convenient, immediate, and readily
accessible to the consumers. Moreover, sellers can also attain benefits like establish
relationships with buyers through such approaches ( ).
 Key learning
Businesses have now used social and digital marketing strategies to engage a huge base of
customers and establish a brand community. This sheds light on the fact how businesses have
efficiently reacted to such approaches and exerted lesser importance to traditional and direct
marketing (Barney & Ray, 2015).
 Opportunities and threats
Businesses can easily use digital and social marketing to engage consumers from anywhere
and at any time through utilization of digital devices. However, various annoying customers
may create obstacles for businesses to continue smooth flow of operations.
 Personal reflection
Even though online and digital marketing has its significance, yet too much emphasis must
not be offered to it because various issues are also annexed with such efficacies. Moreover,
traditional marketing must also be practiced but on a lower scale.
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References
Barney, J. and Ray, G. (2015). How information technology resources can provide a
competitive advantage in customer service. Planning for Information Systems [online]. 3(2),
p. 444-460. Available from: DOI: 10.4236/me.2015.63038
Crosby, M. (2015) Block chain technology. [online]. Available from
http://scet.berkeley.edu/wp-content/uploads/BlockchainPaper.pdf [Accessed 21 April
2018]
Shaw, J. (2017). The Blockchain Transformation of Accounting and Auditing. [online].
Available from: https://njcpa.org/stay-informed/topics/article/2017/09/14/the-
blockchain-transformation-of-accounting-and-auditing [Accessed 20 April 2018]
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