scholarly journals Development of the Digital Economy in the USA and China: Factors and Trends

2019 ◽  
Vol 12 (6) ◽  
pp. 246-267
Author(s):  
I. V. Danilin
Keyword(s):  
Global Economy ◽  
Service Sector ◽  
Success Factors ◽  
Business Models ◽  
Digital Economy ◽  
Traditional Markets ◽  
Latent Demand ◽  
Internet Markets ◽  
The Usa ◽  
Cheap Alternative

Complex research of the “digital economy” in the U.S.A. and China –undisputable leaders of the phenomena – appears to be an important research task. This article is focused on identifying its` key factors and developmental trends (also important for understanding global processes). Growing economic impact and dominance of the U.S.A. and China in the “digital economy”, especially on the Internet markets, is confirmed – with special attention to the extra-large platformic companies. Analyzing the history of the “digital economy” in both nations primacy of market success factors is stated – while stressing important role of technological specifics in shaping trends. For the U.S.A. the key drivers were meeting existing demand on the traditional markets with fundamentally new technological products, as well as formation of new markets to address existing latent demand. For China originally it was inability of the service sector to address growing internal demand, which supported strong growth of internet markets as a fast and cheap alternative (using localized western technologies and business models). Sizable market, governmental support, and later strong investments in technology and innovation determined China`s leadership in the digital economy– with overcoming the U.S.A. in some areas. In conclusion, it is noted that the importance of original digital economy drivers (U.S. technological superiority, China`s huge growing market, etc.) in both nations is expiring. This makes serious changes inevitable. The situation is complicated by growing challenges for the digital economy – from evolving regulatory framework to digitalization of the global economy.

Digitalization of the service economy: advantages and threats

2020 ◽  
Vol 26 (9) ◽  
pp. 111-120
Author(s):  
N. Tarkhanovа ◽  
◽  
V. Romanov ◽  
Keyword(s):  
Service Sector ◽  
Business Models ◽  
Business Processes ◽  
Digital Technologies ◽  
Digital Economy ◽  
Doing Business ◽  
New Business ◽  
Consumer Segment ◽  
Reducing Costs

Recently, the number of businesses using digital technologies has increased. The service sector is no exception. The article is devoted to the use of digital technologies in the service sector. The authors reviewed the advantages and threats of digitalization. As a result of the analysis, the concept of “digital economy” and “service sector” is clarified, and the need for digitalization is justified. The advantages obtained through the use of innovative technologies, both for the industry and for individual enterprises, are indicated. In relation to the industry, this will include: the use of new business models and forms of doing business; increasing the availability and promotion of services on the market up to the world; the emergence of new types of services; the use of control systems that replace humans. As a result of the analysis, the concept of “digital economy” and “service sector” has been clarified, and the need for digitalization is justified. For a single service enterprise, the benefits of implementing digital technologies can be expressed in: reaching the optimal consumer segment; determining the customer’s need for certain services; designing more flexible services; improving the quality of service by improving control of business processes; minimizing the time for services to enter the market; reducing costs by accelerating business processes; minimizing costs; increasing the availability of services through the dissemination of information in social networks; eliminating intermediaries in the delivery of services to the consumer and reducing costs, reducing the number of personnel performing routine operations. Digitalization provides not only the benefits but also pose a threat. These include various types of fraudulent schemes, an underdeveloped regulatory framework, a reduction in the number of employees, and changes in the labor market. As a result, there are increasing requirements for planning at the strategic, tactical and operational levels. Otherwise, the benefits of implementing digital technologies may be lost

Development and adaptation of private service enterprises in the digital economy market

2021 ◽  
Vol 20 (1) ◽  
pp. 144-151
Author(s):  
N. S. Zaytsev
Keyword(s):  
Small Businesses ◽  
Service Sector ◽  
Business Models ◽  
Digital Economy ◽  
Competitive Strategies ◽  
Market Participants ◽  
Online Trading ◽  
The Russian Federation ◽  
Radical Revision ◽  
High Level

The adaptation of representatives of private enterprises and small businesses in the service sector to the general economic digitalization, today is one of the key drivers of the development of the digital economy market in the Russian Federation. There is a radical revision of the classic business models, the introduction of the latest digital technologies in them, and the mass release of various aggregators on online trading platforms. The combination of all the above factors creates a high level of competitiveness between market participants and, as a result, develops and adapts the competitive strategies used by these organizations to meet new needs

scholarly journals Sustainable combinations of distinctive features of innovative firms’ business models

2021 ◽  
Vol 37 (1) ◽  
pp. 62-83
Author(s):  
Sergei Smirnov ◽  
◽  
Svetlana Bobrova ◽  
Igor Arenkov ◽  
Jana Salichova ◽  
...  
Keyword(s):  
Success Factors ◽  
Business Models ◽  
Research Question ◽  
Empirical Studies ◽  
Digital Economy ◽  
Practical Significance ◽  
Stable Set ◽  
Distinctive Features ◽  
Innovative Firms ◽  
Characteristic Features

This article explores innovative firms’ business models during the development of the digital economy. The concept of business models has been in dynamic development for over a decade. Over the years, a significant number of publications have appeared, including results of theoretical and empirical studies. However, the distinctive features of business models of innovative firms have not been sufficiently studied. This article provides data on the attributes of business models of innovative firms and the development of their typology. For the research question, the assumption was taken that innovative business models have a moderately stable set of characteristic features, attributes that can be identified using factor and cluster analysis.In our framework, business models of 100 innovative companies were analyzed. The purpose of this study was to identify sustainable combinations of the characteristic features of business models and the development of typology of identified business models of innovative firms. The results of the study allowed us to develop a typology of business models of innovative firms based on the identification of the distinctive characteristics of business models, including technology, business solutions, and interactions with stakeholders. The results can be used in theoretical and empirical studies to further develop the typology of business models and to determine reasons for their success. The practical significance of the work is to identify sustainable combinations of attributes of business models that can be used for benchmarking, analysis of business models in the process of their transformation, and identifying key success factors in the development of the digital economy.

scholarly journals Business models of the digital economy

2021 ◽  
Author(s):  
Aliaksei Aleksandrovich Bykau ◽  
Natali Aleksandrovna Haustovich
Keyword(s):  
Market Economy ◽  
Business Models ◽  
Digital Economy ◽  
Traditional Markets ◽  
Start Ups

The paper shows that the digital economy operates in accordance with fundamentally new laws that differ from the traditional laws of a market economy. The main goal of digital companies and start-ups is not to maximize profits and capitalization, but to achieve stakeholder benefits by ousting competitors from traditional markets.

Digital economy: e-business and e-Commerce Management

2018 ◽  
Author(s):  
Лариса Лапидус ◽  
Larisa Lapidus
Keyword(s):  
Electronic Commerce ◽  
Computer Games ◽  
Success Factors ◽  
Business Models ◽  
Sharing Economy ◽  
Digital Economy ◽  
The Internet ◽  
Electronic Business ◽  
The World ◽  
On Line

The monograph "Digital Economy: E-Business and E-Commerce Management" is the result of many years of scientific work of Doctor of Economics, Professor of the Faculty of Economics of Lomonosov Moscow State University Lapidus. This is the first complete and comprehensive study devoted to one of the most pressing issues of our time – Digital Economy. Themonographrevealstheessenceofthedigitaleconomy, substantiatesthechangestakingplaceinthemodelsofproduction, distribution, exchange and consumption. The objective reasons for digitalization of economy have been analyzed. The reasons of transition to the new model of joint consumption of Sharing Economy are grounded. The processes of reducing the life cycle of innovations, increasing competition for the Internet audience and a record growth of companies' capitalization are explained. The influence of the digital economy on various spheres of business is shown. Theoretical propositions and practical recommendations for managing e-business and e-commerce are presented in terms of the transformation of business models under the influence of the evolution of digital technologies. The branch peculiarities of e-business and e-commerce development in transport, on-line travel, in catering and in the market of on-line food delivery, in the digital content market in the segment of computer games, in the segment of music services (streaming services) and etc.are studied. The principles of business modeling, the features of building business models for different market segments (B2B, B2C, C2C, etc.), success factors and risks of electronic commerce are disclosed. Particular attention is paid to the world practice of successfully building effective business models of e-business and e-commerce from the birth of a business idea to market launch, embedding e-business tools in the development strategy of traditional companies. The business models Free-to-Play, Freemium-model, Print-on-Demand, Sharing Economy, Full-Crowdsourcing, Donation, etc., the basics of monetizing network communities, the structure of Facebook income, WhatsApp, LINE, success factors and risks of electronic business, features of building an electronic marketing system, managing advertising and business promotion in a digital economy are revealed. Particular attention is paid to innovative e-commerce technologies and their impact on consumer behavior, the formation of new markets and changing the nature of companies that conduct business on the Internet, taking into account the world trends and features of conducting electronic business in Russia. The possibilities of crowdsourcing and crowdfunding, Internet of things (IoT), BIG DATA, artificial intelligence based on Machine Learning technologies, virtual and augmented reality, robotization, 3D printers are considered. Features of management of an infrastructure of electronic business and electronic commerce are revealed.

Critical Success Factors for Executives in Global Economy

2018 ◽  
pp. 40-56 ◽  
Author(s):  
Neeta Baporikar
Keyword(s):  
Global Economy ◽  
Critical Success Factors ◽  
Success Factors ◽  
Business Models ◽  
Information Communication ◽  
Critical Success ◽  
Competitive Environments ◽  
New Business ◽  
New Challenges ◽  
The One

With the convergence of information, communication and technology and global collaboration drives in modern management, it becomes imperative and crucial to understand the critical success factors (CSFs) for executives. In this globalized scenario, the internet has a dramatic impact on every kind of organization. It forms completely new challenges on the one hand but on the other hand it offers entirely new facilities. Additionally, spatiotemporal borders disappear. Totally new business models are being developed and companies have discovered completely new strategies to gain competitive advantage in this information age. Further, the advancements in society and technology, coupled with accelerations in globalization, competitive environments and changing customer's preferences have created new challenges as well as opportunities for executives. There is need to leverage on this vicissitude. To do so, it is essential to identify and understand the critical success factors (CSFs) fundamental to the success of executives and that is the core objective of this chapter.

scholarly journals DIGITAL ECONOMY. THE CONVERSION OF THE TRADITIONAL ECONOMY AS A CONSEQUENCE OF THE ICT INNOVATIONS

2021 ◽  
Vol IV(1) ◽  
Author(s):  
Alexandra Ungureanu ◽  
Keyword(s):  
21St Century ◽  
Business Intelligence ◽  
Global Economy ◽  
Business Models ◽  
Leadership Skills ◽  
Business Environment ◽  
Digital Economy ◽  
Digital Transformation ◽  
Global Business ◽  
Traditional Economy

The ability of the global economy to compete and evolve in the 21st century increasingly depends on the innovative and efficient use of information and communication technologies (ICT). Over the last decade, digitalization has improved decision-making in the global business ecosystem in a variety of contexts, and recent advances in technology transformed the business models in a way that reshapes the economic actor’s interaction with business activities. The emergent conversion of the traditional economy is changing as automation tools, process standardization, and reuse of goods along with cloud computing technology shape the global economy towards digitalization, arising the concern to ensure the development of ICT proficiency in all sectors of the economy in order to create economic balance, avoiding a potential crisis based on the innovation deficit. The speed of digital transformation in the business environment will directly affect the models of economic growth and social development in the future. The present technological revolution is a valid indicator of the civilization progress of the 21st century and the digital transformation requires an improved association of organizational e-leadership skills, innovation, and business development based on business intelligence concepts. Therefore, the reduction of e-leadership skills can be a competitive disadvantage for the industry and a constraint on potential growth. From these considerations, the aim of the paper is to examine the diffusion of business intelligence elements in the global economy, providing examples of business models that have emerged as a result of digitalization improvement, and contributes to an overview of the main features of the digital economy that have emerged in these business models. Using a methodology based on the systematic review of the literature and global analysis regarding the topic, the paper presents a framework of the role that digitalization performs in the global economy transition from analog to digital configuration.

On the Question of Socio-Economic “Sunset” of Big Countries: Praeteritum et Praesens

2014 ◽  
pp. 115-124
Author(s):  
A. Mal'tsev
Keyword(s):  
Global Economy ◽  
World Economy ◽  
Service Sector ◽  
Dominant Role ◽  
Main Idea ◽  
Industrial Sector ◽  
Political Rights ◽  
Economic Decline ◽  
The World ◽  
The Usa

The author deals with the problem of the great nations’ fall. Special attention is paid to critical interpretation of institutional and cultural explanations of socio-economic systems’ degradation. It has been proved that these approaches are unable to completely explain complex processes of big countries decline. The main weakness of institutional hypothesis lies in its focusing mainly on political rights of population and democracy. In particular, institutional approach fails to interpret the relative socio-economic decline of such countries with “excellent” institutions, as the United Kingdom and the Netherlands. In their turn, “cultural determinists” are incapable of giving satisfactory explanation of China’s decline in XIX century as well as China’s economic steep rise in the end of the end of XX and the beginning of XXI centuries. The exogenous interpretation of nations’ fail which is gaining popularity most recently also faces a number of serious objections. The most important is simplified representation of the evolution of the world economy as a result of force-majeure circumstances. The author presents its own concept of leading countries’ economic decline. The main idea is that the key factor determining the decline of great powers is connected with technology progress. Author believes that the change in the balance of forces in the world economy is caused by the difficulties with the transition of dominating power to the new technological paradigm. General algorithm of losing the leadership is as follows: instead of destruction of institutional barriers which prevent launching the next wave of technological and economic development, the country fails to resist the illusion of possibility to maintain the dominant role in the global hierarchy by outsourcing its industrial sector to global periphery and accelerating the growth of service sector. However, service sector is a weak generator of economic growth. Tertiary sector’s overgrowth undermines the stability of the economic system just to external shocks and in the long run is capable to weaken the competitiveness of the state in the global economy. As a result, torn apart by internal contradictions, de-industrialized economy cedes leadership to rapidly copying technological innovations and speedily industrializing catching-up countries. This hypothesis is verified by the cases of Great Britain at the beginning of the XX century and the USA in the beginning of the XXI century. Acknowledgement. The article has been prepared in the framework of youth grant of Astana Club of Nobel prizewinners of 2014.

The Development of the Digital Economy in Vietnam

2020 ◽  
Vol 36 (5E) ◽  
Author(s):  
Nguyen Thi Vu Ha
Keyword(s):  
Financial Services ◽  
Global Economy ◽  
Business Models ◽  
High Growth ◽  
Sharing Economy ◽  
High Growth Rate ◽  
Digital Economy ◽  
Digital Platforms ◽  
Platform Economy ◽  
Digital Entrepreneurship

By 2020, the global economy is in decline in every sector except for the digital economy. The core of the digital economy is the digital sector (IT/ICT). However, the scope of the digital economy is even broader than that, encompassing a set of emerging digital business models such as digital services, the platform economy, the sharing economy, and more. Recently, the digital economy has had a high growth rate and is widely applied to other economic fields, especially in the period of COVID-19. This article aims to analyze the current situation of Vietnam's digital economy development through five key pillars: i) digital infrastructure; ii) digital platforms; iii) digital financial services; iv) digital entrepreneurship, and v) digital skills. Based  on these assessments, the paper gives some recommendations for Vietnam in developing a digital economy.

Influence of social networks on business processes’ development

2020 ◽  
Vol 19 (12) ◽  
pp. 2225-2252
Author(s):  
E.V. Popov ◽  
V.L. Simonova ◽  
O.V. Komarova ◽  
S.S. Kaigorodova
Keyword(s):  
Social Networks ◽  
Social Media ◽  
Business Models ◽  
Business Processes ◽  
Digital Economy ◽  
Theoretical Understanding ◽  
Sales Channels ◽  
A Value ◽  
The Impact

Subject. The emergence of new ways of interaction between sellers and buyers, the formation of new sales channels and product promotion based on the use of digital economy tools is at the heart of improving the business processes. Social networks became a tool for development; their rapid growth necessitates theoretical understanding and identification of potential application in enterprise's business process digitalization. Objectives. We explore the role of social media in the digitalization of business processes, systematize the impact of social networks on business processes of enterprises in the digital economy. Methods. The theoretical and methodological analysis of social networks as a tool for digitalization of company's business processes rests on the content analysis of domestic and foreign scientific studies, comparison, generalization and systematization. Results. We highlight the key effects of the impact of social networks on the business processes of the company; show that the digitalization of business processes should be considered in the context of a value-based approach, aimed at creating a value through the algorithmization of company operations. We determine that social networks are one of the most important tools for digitalization of company's business processes, as they have a high organizational and management potential. We also systematize the effects of social media on company's business processes. Conclusions. We present theoretical provisions of the impact of social networks on business processes of enterprises, which will enable to model and organize ideas about the development of digital ecosystems and the formation of business models.

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