BM565 Digital Business & New Technologies: Asia Digital Strategy

This report examines the importance of digital business and new technologies, focusing on the Asia Digital Strategy. It discusses the development of digital business, technological platforms used, and the types of businesses that leverage these technologies. The report also analyzes how digital technologies relate to both traditional and emerging business and management theories, highlighting the role of digital marketing, social media, and digital transformation in enhancing competitive positions and customer experiences. It concludes that digital technologies are crucial for creating new value, improving internal capabilities, and adapting to the evolving business landscape, especially in a competitive and globalized market. The report emphasizes the significance of digital transformation, mobile technologies, and strategic digital implementations for achieving business goals and attracting customers.

Digital Business and New Technologies

Contents
INTRODUCTION...........................................................................................................................3
MAIN BODY..................................................................................................................................3
Importance of topic......................................................................................................................3
Develop of topic..........................................................................................................................3
Description of technology............................................................................................................4
Technological platforms..............................................................................................................4
Type of business and organisation...............................................................................................4
Business tool used........................................................................................................................5
Relationship between digital technologies and old and newly emerging theories on business
and management structures and practices....................................................................................5
CONCLUSION................................................................................................................................7
REFERNCES...................................................................................................................................9

INTRODUCTION
Digital business and new technology helps in creating new value in business models, internal
capabilities and customer experiences. Digital business means to provide goods and services to
customer digitally and all the work is done with the help of technology (Verhoef and Bijmolt,
2019). It is important to apply new technology so that company can achieve targets. The report
examines, importance of the topic, how this topic is developed, technological platforms used in
topic. Relationship between digital technologies and both old and newly emerging theories on
business and management structures and practices is discussed.
MAIN BODY
Importance of topic
Nowadays, competition is increasing and it is important for an organisation to make new plans so
that goals and objectives can be accomplished. It is important to apply new technology because it
helps in attracting people and more revenue can be generated. For accomplishing goals and
objectives, it is essential to focus on need of customer and provide them good quality and new
technology should be used. In the given case study, asia digital strategy new and enhanced
functionlaity has been launched across mobile, online and staff tablet. It is important to use new
techniques so that more people can be attracted and it helps in achieving goals and objectives.
Competition is increasing day by day and it is essential to use digital technology in business as it
helps in achieving targets and more profit can be earned (Sousa and Rocha, 2019). In the case
study, team is being recruited from global consumer technology firms and they are making good
plans so that people can be attracted and it helps in achieving targets.
Develop of topic
Digital business and new technology is developed because nowadays, competition is increasing
and every organisation want to earn profit. So, they are applying new techniques and candidates
are finding creative solutions so that better plans can be made and it helps in achieving targets.
For earning profit it is essential to make new plans and apply creative technology so that work
can be completed on time and need of customer can be satisfied. This is develop because people
are finding new ways to attract customers and more revenue can be generated. So, using smart
phone and attracting people. In this digital world, most of the people are using smartphone and
they want new and innovative product so that their need can be satisfied. Managers of an
organisation are trying to apply new ways by which business can run smoothly and more profit

can be generated. So, this topic is developed by seeing technology which is applied by other
countries and while finding ways to attract people.
Description of technology
Technology plays a crucial role in achieving targets and helps an organisation in earning more
profit. In the given case study, Asia digital strategy, digital and mobile first approach is used. In
this case study, online banking platform rollout, new mobile centric secure access, business
architecture is applied. They are making mobile with new features like, fast balanced launch in
UK, new mobile loans application journey, new look and feel on main HSBC app. They are
using new technology so that more people can be attracted and it helps in creating positive image
in market. This lead to generating more profit and goals of company can be accomplished. The
aim of asia digital strategy is to apply new techniques and make better plans so that goals of
organisation can be achieved and more popel can be attracted (Ukko and et.al., 2019). For
growth and development of company it is essential to apply new technology. In this study,
opportunity to take a digital first approach is it implement new digital banking platform in 2016,
improve mobile customer experience, we chat banking, virtual teller machines. All these things
are implemented and this helps in satisfying need of customer.
Technological platforms
Technological platform which is used in the case study is, they are using smart phones and
implementing new digital banking platform so that people can do their banking work. The
company is improving mobile customer experience, mobile wallet solutions evaluated on a
partner by partner and market by market basis. Virtual teller machines i.e., on board customers
and service needs in branch. Team members for this project is being recruited fro global
technology firms because they are having better ideas and experience which is beneficial in
satisfying need of people. When people are recruited from global firms they suggest better ideas
and having knowledge about choice of people (Bican and Brem, 2020). It is essential to use
technological platforms so that work can be completed on time and increases profit of company.
Type of business and organisation
There are different type of business which uses technology but generally organisation in which
computer work is more or they want to earn profit. Nowadays, all the organisation want to earn
profit and they are applying technology because this is the best way to attract people and more
profit can be generated. It is essential to focus on need of people and medium size business is

applying technology so that they can attract more people and it helps in gaining competitive
advantage in market. All the organisations are using technology and digital business to earn
profit and to run their business smoothly. In this digital world, all the work can be done with the
help of smart phone and most of the people are using smart phone (Senyo, Liu and Effah, 2019).
Business tool used
Technology plays a crucial role in an organisation because it helps in increasing profit and
efficiency of employees is increased. Technology can be used as a business tool because it helps
in generating more profit and better products can be provided to customers. With the help of
technology people can be attracted and it helps in increasing sales of company. It is effective to
use technology as it helps in making better plans and targets can be accomplished. All the
organisations are using technology to attract people and to earn more profit. So, for growth and
development of business, managers are applying technology.
Relationship between digital technologies and old and newly emerging theories on business and
management structures and practices
Many companies are experimenting with the digital transformation and digital
technologies as it helps in enhancing the competitive position of the companies and to adapt the
technologies (Tabrizi and et.al., 2019). The relationships between digital technologies and
emerging business and management structures can be explained with the help of following
topics:
Digital marketing and social media
Digitization has bring many changes in the consumer behaviours. It requires the companies to
rethink and readopt their marketing strategies in digital domain to retain its customers. The
enhanced and rapid growth of social network and web based platforms which facilitates these
social behaviours have modified the nature and patterns of human behaviours, thinking and
preferences. The real world relationships have transformed into virtual word which have
resulted in creation of communities which are connected online (Mergel, Edelmann, and Haug,
2019)
.

Through digital media the companies are being pulled over. The customers engage with socks
media which makes the companies to engage with social media as well. In the past the marketers
used the theories such as traditional marketing involving telemarketing, email blast and direct
marketing to inform and sell their products. However, World Wide Web has allowed the
companies to present their products and messages through age page views and advertising in
order to reach a wider range of customers in less time. This have served as the surfer behaviours
to the companies for advertising tool. An alternative web based strategies is needed for the
companies seek to establish the mutually satisfying relationships with its customers (Vial, 2019).
It has also been found that the use of digital technologies have helped the companies to attract
new customers and retain its existing customers. Digital marketing has also helped the
companies to maintain their costs and reach a wider newton of customers in no time. The digital
technologies have enable the companies to reach the customers globally who are in different time
oxen=s and different geographical boundaries. This have made the companies to enhance their
networking and enhanced brand recognition as well.
Digital transformation and business models:
The consumers have also change their behaviour due to digitization. Customers prefer the
digital channels for sales and purchase of the goods and services. It has been found that the
customers use their mobile phones to check a product online before buying it. The digital
transformation through the enhanced digital platforms and service capabilities, improves the
supporting digital operations and simplifies he customer interactions. The product and service
automation by the companies helps in optimising end to end customer journeys and automate
sales through the service transactions in order to deliver through processing. All this improves
productivity of the organization. The channel simplification assist in delivering the multi-channel
capability, empowered customers and optimised branch and contact centre footprint. All these
help in enhancing the customer experience.
Digital business transformation: The digital business transformation is a major topic of
discussion across the globe. There are various companies which have successfully adopted
digital media technologies and attained success in the modern era. However, there are various
organizations which have be unable to adopt the digital technologies (Ebert and Duarte, 2018)
.

Transformation is bringing fundamental changes in the organizational logics which
results in shifts in behaviours. The transformation concepts into following concepts:
 Re-engineering improves the organizational efficiency
 Restructuring improves efficient without improving the organizational abilities to
achieve goals and opportunities
 Renewing: Gaining the improved efficiency and innovation by the employee
empowerment
 Regeneration: Improving the existing procedures and revisiting the directions and
portfolios which are amiable for opportunities.
All these transformations create tensions and issues between old competences and future
challenges. However the use of technology is identified as a key internal dimension which aid
the company in transformation. Information technology have extended the concept of business
transformations and their role in IT enabled transformations. It categories the transformation
into following constructs:
 Reforming the perception and view of company and its business
 Restricting the internal configurations to allow more flexibility
 Revitalizing the organization with marketplace opportunities
 Renewal of people base issues (Reis, et.al., 2018)
The topic HSBC Asia Digital technology is related to the course as it focus on identification 0f
various digital technologies used for the business. It also provide the use of social media and
mobiles for the business.
CONCLUSION
From the above discussion it can be concluded that the digital business and new
technologies assist the companies in creating new value in its business models, capabilities and
enhanced customer experiences. As the competition is increasing and becoming globalised the
companies have to make plans to attain its objectives and remain competitive in the market as
well. Digital technologies a digital business have developed a lot these days is the competition s
intensified and every company wants to be on top. Technology can help the companies in
generating new stream of profits and finding ways through which it can survive in the industry.

There are various technological platforms which involves smart phones and digital banking
platforms etc. there are various types of business which uses technology to earn profits.
Technology helps in enhancing the efficiency of employees which ultimately help in enhancing
the profits of the business. Companies use digital technologies for tits business, management
strategies and various business practices. It involves digital marketing and social media, digital
transformation and business models etc.

REFERNCES
Books and Journals
Bican, P. M. and Brem, A., 2020. Digital Business Model, Digital Transformation, Digital
Entrepreneurship: Is There A Sustainable “Digital”?. Sustainability, 12(13), p.5239.
Ebert, C. and Duarte, C.H.C., 2018. Digital Transformation. IEEE Softw. 35(4). pp.16-21.
Mergel, I., Edelmann, N. and Haug, N., 2019. Defining digital transformation: Results from
expert interviews. Government information quarterly. 36(4). p.101385.
Reis, J. and et.al., 2018, March. Digital transformation: a literature review and guidelines for
future research. In World conference on information systems and technologies (pp. 411-
421). Springer, Cham.
Senyo, P. K., Liu, K. and Effah, J., 2019. Digital business ecosystem: Literature review and a
framework for future research. International Journal of Information Management, 47,
pp.52-64.
Sousa, M. J. and Rocha, Á., 2019. Skills for disruptive digital business. Journal of Business
Research, 94, pp.257-263.
Tabrizi, B. and et.al., 2019. Digital transformation is not about technology. Harvard Business
Review. 13(March). pp.1-6.
Ukko, J., and et.al., 2019. Sustainability strategy as a moderator in the relationship between
digital business strategy and financial performance. Journal of Cleaner Production, 236,
p.117626.
Verhoef, P. C. and Bijmolt, T. H., 2019. Marketing perspectives on digital business models: A
framework and overview of the special issue.
Vial, G., 2019. Understanding digital transformation: A review and a research agenda. The
journal of strategic information systems. 28(2). pp.118-144.