The Evolution of Digital Business

Technology Maturity in Digital Business:

Internet (1990’s – 2000’s)

E-mailing

Websites

E – Business  (2000’s – 2010’s)

eCommerce

Customized user experience

Automation of business processes

Digital Business  (2010’s –  on going)

New Business Models

Social Business

Business, consumer, product and service ecosystem

Business Innovation is driven by Digital Transformation

We are connected to the internet, at least most of us are. People and businesses are communicating, making transactions and learning from each other. By analysing data, complaints and feedback, better products are being created and services are improving; creating a digital world where things runs smoothly and fast.

Digital business is what combines traditional business models with the digital world. Differently to eBusiness, Digital has an ecosystem, where we connect all parties, by using technology.

The Internet of Thing IoT, is not what defines Digital business, it does however play a role in Digital Business. IoT is everything that is connected to the internet; it is now being recognised by the communication of objects.

Whats next?

Digital Business have shifted the way businesses operates, and has disrupted all industries. In order for top executives and Industry leaders to maintain the level of their positions, thinking differently is required. In the digital world, there is no room for traditional inside of the box thinking. Creativity is allowing new businesses to launch, and innovative management approaches is what is making them grow. Not only new businesses are created but the old ones are becoming obsolete.

Chief Digital Officer CDO

For the ones who can visualise great potential and understand the digital economy, the opportunity to become Successful leaders are endless. New roles are being created, such as a chief digital officer (CDO), and its responsibilities will include the development and execution of digital strategies. If top-level employees do not adapt to the digital revolution, they will become unaware of what is required to maintain in a high position, and experience will no longer be an asset. The digital future requires leadership skills related to digitisation and not limited to operations and finance.

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