Digital Transformation and the Evolution of the Platform Economy

2022 ◽  
pp. 1-24
Author(s):  
Maxim Shatkin
Keyword(s):  
Business Models ◽  
Digital Transformation ◽  
User Interactions ◽  
Product Models ◽  
Production And Consumption ◽  
Starting Point ◽  
New Business ◽  
Online Reputation ◽  
Platform Economy ◽  
New Business Models

This chapter provides an overview of the evolution of the platform economy through the lens of digital transformation and transit from Industry 3.0 (I3.0) to Industry 4.0 (I4.0). The platform economy belongs to both I3.0 and I4.0 and goes through two cycles of digital transformation within them. In I3.0, the starting point of the platform economy is the digitization of social and commercial interactions over user-generated content. The resulting issues of trust and regulation of user interactions find solutions in new business models based on online reputation systems and algorithmic regulation. The specificity of I4.0 is the tendency to platform products, homes, factories, and cities through broad digitization of interactions between humans and things, and things and things. For the platform economy, the new cycle of digital transformation in the context of I4.0 means creating business models based on the ultimate customization of both the production and consumption of product-as-platforms and the rental of digital product models.

scholarly journals Digital transformation: harnessing digital technologies for the next generation of services

2019 ◽  
Vol 33 (4) ◽  
pp. 429-435 ◽  
Author(s):  
Mohamed Zaki
Keyword(s):  
Business Models ◽  
Digital Technologies ◽  
Customer Experience ◽  
Digital Transformation ◽  
Data Driven ◽  
Next Generation ◽  
Content Type ◽  
New Business ◽  
Market Opportunities ◽  
New Business Models

Purpose The purpose of this paper is to discuss digital transformation and its four trajectories – digital technology, digital strategy, customer experience and data-driven business models – that could shape the next generation of services. This includes a discussion on whether both the market and organizations are all ready for the digital change and what are the opportunities that will enable firms to create and capture value though new business models. Design/methodology/approach Providing services is a proven and effective way to secure a competitive position, deliver long-term stable revenues and open up new market opportunities. However, it is also clear that some organisations are struggling to digitally transform. Therefore, the commentary provides a brief insight into how firms explore the possibilities of digital transformation and navigate these uncharted waters. Findings Today’s digital technologies affect the organisation outside and in, enabling the creation of new business models and transforming the customer experience. The incumbents are acutely aware that they need to transform strategically – to build new networks and value chains. Originality/value This commentary extends earlier work exploring the digital disruption within services to highlight a number of connected areas: the challenges and opportunities of digital transformation at a strategic level, as well as understanding and enhancing the customer experience and seeing how new data-driven business models can underpin service transformation.

Combining E-Commerce and Blockchain Technologies to Solve Problems and Improve Business Results

2021 ◽  
pp. 173-192
Author(s):  
Albérico Travassos Rosário
Keyword(s):  
Supply Chain ◽  
Business Models ◽  
Digital Transformation ◽  
The Internet ◽  
Chain Management ◽  
Blockchain Technology ◽  
Business Results ◽  
New Business ◽  
Financial Transactions ◽  
New Business Models

The internet and digital transformation have changed our relations with the market. These technologies have been developing continuously, creating opportunities for new business models, and e-commerce has grown overwhelmingly worldwide, changing the consumption process of a large part of the world's population. Companies are increasingly using blockchain technology to improve and create new global trading business models. Blockchain had its first application in cryptocurrencies, but it has quickly become a major solution in all sorts of activity sectors, providing increased security in commercial transactions. An important question is how the blockchain can leverage e-commerce in solving problems and improving business results. It was concluded that blockchain could leverage e-commerce in the four fundamental areas of (1) e-commerce financial transactions, (2) e-commerce supply chain management, (3) e-commerce forecasting and contractual relations, and (4) e-commerce transactions systems' trust and credibility.

scholarly journals Digital transformation and new business models as determinants of formation of the economy of nontypical employment

2020 ◽  
Vol 10 (1) ◽  
pp. 33-54
Author(s):  
Anatoliy Kolot ◽  
Oksana Herasymenko
Keyword(s):  
Industry 4.0 ◽  
Business Models ◽  
Digital Transformation ◽  
Systematic Research ◽  
Gig Economy ◽  
The World ◽  
New Business ◽  
A Chain ◽  
Work And Employment ◽  
New Business Models

With the development of the Fourth Industrial Revolution and the formation of a new technological basis – “Industry 4.0” - a dynamic multi-vector transformation of the leading institutes of economy and society takes place, social and labor relations in general and employment in particular acquire new format and content. The quintessence of the article is a scientific-applied substantiation of the construct of nontypical employment economy, scientific argumentation and further development of previous researches of authors regarding determinants of gig-economy formation under the influence of economic and social development “digitalization” and emergence of new business models. that radically change all components of the world of work. New facets of the complex world of work and employment have been revealed and the increase of the newest knowledge in this field has been received under systematic research of a chain of changes: introduction of “Industry 4.0” breakthrough technologies → “digitalization” as a dominant vector of technological innovations → formation of new business models → changes in social division of labor and the content of labor processes → the emergence and intensive development of employment forms immanent to the new (digital) economy. It is substantiated that the main root cause, a kind of “trig- ger” for the emergence and reproduction of the chain of researched changes is digital transformation of the economy and society. The essence of today’s phenomena, which determine the development of the “gig economy”, is revealed. The argumentation of the spread of platform business models and their impact on the world of work and employment is given. A new theoretical construction of a chain of changes, the “output” of which is new forms and, a new platform for social and labor developmen t in general, has been suggested. The research focuses on finding answers to a number of questions posed to every conscious person. Among them are the following ones: Why can’t the modern economy “get along” with traditional (standard) forms of employment? Why does atypicality become not the exception but the norm? How do specific mechanisms and tools for transforming standard forms of employment into new ones, which are immanent to modern conditions of economic and social progress, behave in practice?

scholarly journals Digital transformation as a factor of ensuring country competitiveness: Moldova case analysis

2021 ◽  
Vol 12 (6) ◽  
pp. s560-s583
Author(s):  
Daiva Bickauske ◽  
Saulius Kromalcas ◽  
Zaneta Simanaviciene ◽  
Larysa Sergiienko ◽  
Tetiana Baranovska
Keyword(s):  
Business Models ◽  
Swot Analysis ◽  
Digital Transformation ◽  
Government Functions ◽  
Production And Distribution ◽  
New Business ◽  
Need For Support ◽  
Digital Governance ◽  
Country Competitiveness ◽  
New Business Models

The digital transformation is now a reality in Moldova, as Moldova has begun to transfer social, legal, and civil service delivery online. Sped-up digitalization can be expected to create new business models and opportunities for digital jumping in traditional industries. The Coronavirus crisis has highlighted the need for support and investments in digital transformation and effective digital governance, especially to guarantee the continuity and delivery of core government functions. The digital transformation is changing not just business models but the methods of production and distribution and the industry's competitiveness. Further analysis has been made to generate specific steps/recommendations regarding the digitization of the Moldova industry. The interview with experts who work closely in digitalization or competitiveness was done, and the SWOT analysis was done. Based on the research made, the recommendations for Moldova were prepared and presented in this article.

scholarly journals DIGITALIZATION AND DIGITAL TRANSFORMATION OF BUSINESS: MODERN CHALLENGES AND TRENDS

2021 ◽  
Vol 31 (4) ◽  
pp. 545-551
Author(s):  
L.A. Vatutina ◽  
E.Yu. Zlobina ◽  
E.B. Khomenko
Keyword(s):  
Business Models ◽  
Business Processes ◽  
Economic Effect ◽  
Digital Transformation ◽  
Distinctive Features ◽  
Commercial Activities ◽  
New Business ◽  
Digital Competencies ◽  
Official Data ◽  
New Business Models

The article is devoted to the analysis of modern trends in digitalization and digital transformation of business. Digitization of economic activity has now become one of the key trends in the development of domestic business. Digital solutions have a significant impact on business processes and models, and their application is due to the changes in consumer behavior, the availability of technology and a positive economic effect. The Covid-19 pandemic has contributed to the fact that business began to rapidly learn digital tools in the organization of commercial activities, which contributes to the dynamic digital transformation of business. The authors emphasize the distinctive features of digitalization of business and its digital transformation; they consider Russia's position in international ratings of digital economy development, and analyze the achieved level of digitalization of domestic entrepreneurship on the basis of indices and official data of state statistics. It is noted that digital transformation affects the activities of many entrepreneurial structures, regardless of the size of business. At the same time, entrepreneurs face not only the positive sides of digitalization, but also have to solve new problems, overcoming the influence of new risks and threats.The authors identified the key challenges of digitalization of entrepreneurship in the modern economy, which are in particular related to information security; insufficient level of development of digital competencies among enterprise staff; the difficulty of moving to new business models; financial constraints.

scholarly journals Digital transformation in supply chains: Current applications, contributions and challenges

2021 ◽  
Vol 9 (1) ◽  
pp. 32-55
Author(s):  
Özden Özkanlısoy ◽  
Erkut Akkartal
Keyword(s):  
Supply Chain ◽  
Supply Chain Management ◽  
Supply Chains ◽  
Business Models ◽  
Transformation Process ◽  
Digital Transformation ◽  
Chain Management ◽  
New Business ◽  
Near Future ◽  
New Business Models

Digital transformation in supply chain management enables businesses to achieve competitive advantage by using their resources more efficiently, to make every stage of their supply chain smarter, more transparent and more efficient, to be closer to individual customer needs, to provide a significant increase in decision-making quality, and to become increasingly flexible in the near future. and provides the advantages of having new business models that will be efficient.Unfortunately, today digital transformation is at the stage of digitization rather than digital transformation due to the high initial investment cost and concerns about the success of applications. In this study, successful digital transformation applications implemented in supply chain management to guide companies and supply chains that have not yet entered the digital transformation process, the advantages provided by these applications and the difficulties of the digital transformation process are discussed.In the study, using qualitative data analysis, open-ended interview questions were applied to a total of 28 companies, and the answers were separated on the basis of sectors and applications and new business models were grouped according to sectors. The advantages of the companies and their supply chains with digital transformation and the difficulties faced in the transformation process are discussed jointly to cover all sectors. The study ends with an evaluation and brief summary of the findings.

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