The Digital Economy
The ‘digital economy’ has grown to become larger and more complex than many originally anticipated. Technological change – epitomised by increasingly more powerful and smaller device – as well as widespread connectivity, have given rise to a dynamic digital economy that cuts across all sectors. Information and communication technologies (ICT) provide the ability to enhance the efficiency and effectiveness of existing operations, enter new markets and create innovative business models. However, ICT are a double-edged sword – as easily as opportunities and new business models are created, existing ones are challenged and undermined. The uncertainty and change that results has transformed many sectors, with ‘old’ players declining, struggling to cope or even going out of business altogether as new ones enter. Part 1 Critically assess how an organisation utilises ICT. Doing this will allow you to draw on themes and issues introduced throughout the module. You will apply the business model canvas of Osterwalder & Pigneur (2010) to an organisation – you can either analyse your sponsoring organisation or a leading Internet company. If the latter, you will be allocated one of the following companies: Alphabet (parent of Google), ASOS, Boohoo, Expedia, Facebook, Spotify or Twitter. Your report should be no more than 2500 words in length. This does not include references. This assignment is worth 60% of the marks for this module. Part 2 The digital economy impacts on individuals as much as it does on organisations. You will assess the impact of the digital economy on individuals, paying particular attention to its impact on how it has changed purchasing. This change is wide-ranging, including how purchases occur and the roles that individuals play within (online and hybrid) markets as well as the context within which purchases occur.