scholarly journals Financial sector evolution and competencies development in the context of information and communication technologies

2020 ◽  
Author(s):  
Ilja Arefjevs ◽  
◽  
Aivars Spilbergs ◽  
Andris Natrins ◽  
Atis Verdenhofs ◽  
...  
Keyword(s):  
Information And Communication Technologies ◽  
Business Model ◽  
Business Models ◽  
Business Processes ◽  
New Products ◽  
Communication Technologies ◽  
Financial Sector ◽  
New Business ◽  
Information And Communication ◽  
Competencies Development

The development of information and communication technologies (ICT) has a significant impact on the business model of companies operating in the financial sector. Digital transformation leads to changing existing business model rapidly, as well as necessity of developing new processes specifically related to the use of ICT in business processes, development of new products and updating existing ones. At present, changes in the demand for ICT related processes in financial sector are observed both through the development of different technologies and their applications core or ancillary processes (e.g. innovations in payment systems including crypto currencies, blockchain-assisted smart contract, credit markets and insurance including peer-to-peer lending). Based on the opportunities offered by ICT, new business models need to be developed in the financial sector to transform these capabilities into new products and services that respond to changing customer demand. The aim of research to investigate the changes taking place in financial sector in the light of developments in ICT for acquisition of necessary competencies. Research methodology includes systematic review of scientific literature, analysis of selected financial sector statistics, semi-structured industry expert interviews and statistics analysis. The empirical study is limited to the financial sector of Latvia. Although due to the global nature of the financial sector the research findings could be applied internationally.

New tools for developing the living environment (based on materials of Gaidar Forum – 2021)

2021 ◽  
Vol 23 (1) ◽  
pp. 6-12
Author(s):  
NATALYA YASKOVA ◽  
Keyword(s):  
Information And Communication Technologies ◽  
Business Models ◽  
Communication Technologies ◽  
Living Environment ◽  
Investment Activity ◽  
New Business ◽  
Information And Communication ◽  
The Government ◽  
National Economies ◽  
Expert Community

The pandemic has become the reason for structural reforms as well as for discussing many issues by the expert community. In this regard, the Gaidar Forum – 2021 became the very platform where experts in various fields of knowledge could meet. Specialists discussed such issues as sustainable development problems, the innovative focus of development, the introduction of IT technologies, restructuring of national economies, new business models, etc. Most of the questions, one way or another, concern the problem of the evolution of the living environment. These are the questions that were presented by the experts of the “Building together” discussion platform. Analyzing the results of the construction complex, which ensures the implementation of the national project “Housing and the Urban Environment”, made it possible to identify the nature of further measures taken by the Government of the Russian Federation in order to create a competitive living environment. Experts systematized the prospects for business models of investment and construction activities involved in the development of territories, identified new tools for enhancing investment activity, and focused the attention of the authorities on information and communication technologies used in modeling the living environment.

Digital Transformation and Change Management at Organizations in the Textile Industry

2020 ◽  
pp. 144-174
Author(s):  
Carmen De-Pablos-Heredero
Keyword(s):  
Change Management ◽  
Information And Communication Technologies ◽  
Textile Industry ◽  
Customer Value ◽  
Business Models ◽  
New Technologies ◽  
Communication Technologies ◽  
Digital Transformation ◽  
New Business ◽  
Information And Communication

Organizational changes are required for the implementation of information and communication technologies (ICT) at firms operating in the textile industry. Technologies for a new way of doing things will not provide good results if applied to an old established process. ICT allows putting into action processes in a different way, which may result in many cases, in more efficient and convenient process from the perspective of customer value generation. Textile firms highly invest in digital transformation to get new business models that constitute a challenge for traditional ways to operate. For that, they must face organisational changes. Change management implies leaving a group of structures, procedures, and behaviours and the adoption of new ones. Organizations must be able to identify potential efficient processes as a consequence of the application of new technologies. An appropriate management of more tangible aspects—equipment, financial resources—and intangible ones—people, users, and perceptions—will have impact on change management results.

Entrepreneurial Activity Dynamics That Enhance Tourism in Montijo Municipality

2021 ◽  
pp. 16-33
Author(s):  
Teresa Gomes Costa ◽  
Inês Lisboa ◽  
Nuno Miguel Delicado Teixeira ◽  
Zélia Duarte ◽  
Teresa Godinho
Keyword(s):  
Information And Communication Technologies ◽  
Business Models ◽  
National Level ◽  
Communication Technologies ◽  
Social Progress ◽  
Entrepreneurial Activity ◽  
Health Crisis ◽  
New Business ◽  
Information And Communication ◽  
Tourism Activity

Montijo municipality is in Setúbal district and belongs to Lisbon metropolitan area. Many new projects have emerged in the county related to tourism. However, the health crisis that plagued the world in early 2020 raised several concerns about the entrepreneurial activity of this municipality. Thus, this study has as main objective to broadcast the entrepreneurial activity that enhances tourism in Montijo municipality, before the health crisis and to present a reflection on the future of this activity in the post-COVID-19 era. It was possible to verify that the county has a set of positive indicators with regard to tourism activity and is one of the most dynamic at national level in terms of entrepreneurship. Besides that, the implementation of new business models, new products and services, new distribution and marketing forms, based on information and communication technologies can be very important to disseminate the region and to add value to the tourist experience and business, contributing to making the region a national reference of economic and social progress.

scholarly journals The Appleization of finance: Charting incumbent finance’s embrace of FinTech

2018 ◽  
Vol 4 (2) ◽  
pp. 159-80
Author(s):  
Reijer Hendrikse ◽  
David Bassens ◽  
Michiel Van Meeteren
Keyword(s):  
Data Mining ◽  
Information And Communication Technologies ◽  
Business Model ◽  
Financial Services ◽  
Business Models ◽  
Communication Technologies ◽  
Data Driven ◽  
Financial Industry ◽  
Information And Communication ◽  
Financial Technology

The rise of financial technology (FinTech) engenders novel business models through integrating financial services and information and communication technologies (ICT). Digital currencies and payments, data mining, and other FinTech applications threaten to radically overhaul the financial sector. This article argues that, while we are becoming aware of how technology giants such as Apple Inc. are making inroads into financial services, we need to become more sensitive to how financial incumbents mimick ICT firms while aiming to neutralize the FinTech challenge. Practices from Silicon Valley are spilling over into ‘traditional’ finance through a process we dub Appleization. We illustrate how incumbents aim to remain indispensable amidst rapid digitization. Mimicking tech strategies, financial incumbents resort to transforming legacy ICT systems into integrated platforms, cultivating entrepreneurial ecosystems where startups are ‘free’ to compete whilst effectively being locked into the incumbent's orbit. We illustrate this by comparing Apple’s business features (locking-in developers, customers and state into a hybrid business model based on a synergy between hardware, software and data-driven platform components) with emerging practices in the financial industry. Our analogy suggests that the Appleization of finance might radically transform, yet not undercut the oligopolistic position of financial incumbents.

Trends in the Renewable Energy Business

2021 ◽  
pp. 1932-1941
Author(s):  
Adrian Tantau ◽  
Robert Staiger
Keyword(s):  
Renewable Energy ◽  
Information And Communication Technologies ◽  
Business Models ◽  
Technology Development ◽  
Dynamic Environment ◽  
Communication Technologies ◽  
New Information ◽  
The Future ◽  
New Business ◽  
Information And Communication

The renewable energy business increase its volume each year due to the technology development and due to new business opportunities based on international (e.g., EU) and national support schemes, that have the goal to reduce the CO2 and other emissions of GHG. This chapter presents the main trends in the renewable energy business with main focus on the PV and H2 business. The objective of this chapter is to design a picture of the future of the renewable energy and not only. It is a view of the future of our planet in a dynamic environment characterized by proliferation of new renewable energy installments that are more personalized due to the diffusion of new information and communication technologies (IoT, Big Data, Smart grid) and new business models. The chapter offer an answer regarding to the future of renewable energy business in general, and to the future of PV and H2 business in special.

scholarly journals Orchestrating Smart Cities, New Disruptive Business Models and Informal Enterprises

2020 ◽  
Author(s):  
Ben Mkalama ◽  
Bitange Ndemo
Keyword(s):  
Information And Communication Technologies ◽  
Business Models ◽  
Industrial Revolution ◽  
Smart Cities ◽  
Communication Technologies ◽  
Sub Saharan Africa ◽  
New Business ◽  
Information And Communication ◽  
Sub Saharan ◽  
New Business Models

As the fourth industrial revolutions technologies intensify, cities are becoming smarter, new business models are emerging and informal enterprises are formalizing by default. Research demonstrates that the future of our world is decided by the quality of its future cities. As cities invest in information and communication technologies (ICTs) and embrace the Fourth Industrial Revolution (4IR) technologies to make life easier and solve many of the problems we face today, employment opportunities expand and citizens enjoy better lifestyle. This chapter will examine how the concept of smart cities is disrupting existing business models and creating new ones that have positively impacting Africa’s informal enterprise sector. The chapter leverages abundance theory to explain the emerging phenomenon in the nexus between smart cities, new business models and informal enterprises in Sub-Saharan Africa. The study finds that indeed the concept of smart cities is indeed facilitating new business models that are formalizing the informal sector.

Trends in the Renewable Energy Business

2017 ◽  
pp. 146-158
Keyword(s):  
Renewable Energy ◽  
Information And Communication Technologies ◽  
Business Models ◽  
Technology Development ◽  
Dynamic Environment ◽  
Communication Technologies ◽  
New Information ◽  
The Future ◽  
New Business ◽  
Information And Communication

The renewable energy business increase its volume each year due to the technology development and due to new business opportunities based on international (e.g., EU) and national support schemes, that have the goal to reduce the CO2 and other emissions of GHG. This chapter presents the main trends in the renewable energy business with main focus on the PV and H2 business. The objective of this chapter is to design a picture of the future of the renewable energy and not only. It is a view of the future of our planet in a dynamic environment characterized by proliferation of new renewable energy installments that are more personalized due to the diffusion of new information and communication technologies (IoT, Big Data, Smart grid) and new business models. The chapter offer an answer regarding to the future of renewable energy business in general, and to the future of PV and H2 business in special.

DEVELOPMENT OF BLOCKCHAIN TECHNOLOGY IN THE CONTEXT OF ENSURING DIGITAL GROWTH OF THE ECONOMY

2020 ◽  
pp. 5-12
Author(s):  
Olga Kozhevina ◽  
Keyword(s):  
Information And Communication Technologies ◽  
Business Models ◽  
Business Processes ◽  
Communication Technologies ◽  
Legal Regulation ◽  
Advantages And Disadvantages ◽  
Blockchain Technology ◽  
Information And Communication ◽  
The Government ◽  
Relationship Of

Platform digital solutions are becoming a familiar attribute of managing companies, industries, and the economy as a whole. Ensuring digital growth is a key task set by the Government of the Russian Federation until 2024. It cannot be achieved by limiting the implementation of modern information and communication technologies in business processes and state (municipal) and regional management. The development of blockchain technology, identifying its prospects, advantages and disadvantages when broadcasting to various sectors of the economy is relevant. The article discusses the use of blockchain technology in various sectors of the economy, identifies the benefits and risks. The research methodology is interdisciplinary in connection with the complexity of the blockchain issues. Based on the study of foreign experience, key areas of the use of blockchain technology are identified, including for the release of cryptocurrency and national digital currency. The main results of the study are, firstly, the substantiation of the relationship of business models of companies with trends in the development of digital technologies and their implementation to increase the market attractiveness of companies; secondly, the features of the use of blockchain in various sectors of the economy have been identified; thirdly, the features of the legal regulation of the blockchain in Russia and abroad were investigated; fourthly, the prospects for blockchain technology for the development of digital assets are identified

scholarly journals E-Entrepreneurship for E-Startups: Potentials, Common Challenges and Way Forward

2019 ◽  
Vol 10 (4) ◽  
pp. 44-50
Author(s):  
Mohammad Aminul Islam ◽  
Mohammed A Alghobiri
Keyword(s):  
Information And Communication Technologies ◽  
Business Processes ◽  
Institutional Support ◽  
Communication Technologies ◽  
Security Threat ◽  
Comprehensive Understanding ◽  
Economic Activities ◽  
New Business ◽  
Related Potentials ◽  
Information And Communication

In today’s economic world, the advancement in technology has opened up new forms of economic activities, particularly business. Whilst entrepreneurship is a major factor in business, e-entrepreneurship has become a buzzword facilitated by the rapid advancement of internet and developments in Information and Communication Technologies (ICTs). E-entrepreneurship, in the name of transforming business from the local marketplace to the global one, has revolutionized the entire business processes. This set of new business mechanism has created new opportunities for the startups, which in this regard is termed as e-startups. The purpose of this paper, therefore, is to develop a comprehensive understanding of the concept of eentrepreneurship by addressing related potentials and challenges. Extant literature has been reviewed to this end. The analysis indicated that flexibility of and accessibility to technology and products, less capital and risk in comparison to physical businesses are the major advantages that an e-entrepreneur might enjoy while commencing an e-startup. On the other hand, lack of institutional support, digital security threat, tough competition with established brands, less innovation and lack of academic and practical exposure in terms of business and marketing are some barriers that challenge the operation of e-startups. The conclusion of the paper draws on some recommendations accordingly.  

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