Creating New Markets In The Digital Economy

This book provides practical advice to help readers innovate and identify new business models, products and services within the connected digital economy.

The unprecedented Covid-19 crisis revealed the scale and scope of a new type of economy taking shape in front of our very eyes: the digital economy. This book presents a concise theoretical and conceptual framework for a more nuanced analysis of the economic and sociological impacts of the technological disruption that is taking place in the markets of goods and services, labour markets, and the global economy more generally. This interdisciplinary work is a must for researchers and students from economics, business, and other social science majors who seek an overview of the main digital economy concepts and research. Its down-to-earth approach and communicative style will also speak to businesses practitioners who want to understand the ongoing digital disruption of the market rules and emergence of the new digital business models. The book refers to academic insights from economics and sociology while giving numerous empirical examples drawn from basic and applied research and business. It addresses several burning issues: how are digital processes transforming traditional business models? Does intelligent automation threaten our jobs? Are we reaching the end of globalisation as we know it? How can we best prepare ourselves and our children for the digitally transformed world? The book will help the reader gain a better understanding of the mechanisms behind the digital transformation, something that is essential in order to not only reap the plentiful opportunities being created by the digital economy but also to avoid its many pitfalls. Chapters 1, 3 and 5 of this book are available for free in PDF format as Open Access from the individual product page at www.routledge.com. They have been made available under a Creative Commons Attribution-Non Commercial-No Derivatives 4.0 license.

Building on the message of the successful "The Digital Economy", this book presents examples from 30 world-class corporations, wherein they discuss their firm's goals for the future and detail the networking and multimedia technologies they use to accomplish their goals.

The rapid growth of electronic commerce, along with changes in information, computing, and communications, is having a profound effect on the United States economy. President Clinton recently directed the National Economic Council, in consultation with executive branch agencies, to analyze the economic implications of the Internet and electronic commerce domestically and internationally, and to consider new types of data collection and research that could be undertaken by public and private organizations. This book contains work presented at a conference held by executive branch agencies in May 1999 at the Department of Commerce. The goals of the conference were to assess current research on the digital economy, to engage the private sector in developing the research that informs investment and policy decisions, and to promote better understanding of the growth and socioeconomic implications of information technology and electronic commerce. Aspects of the digital economy addressed include macroeconomic assessment, organizational change, small business, access, market structure and competition, and employment and the workforce.

In the 21st century, advancements in the digital world are bringing about rapid waves of change in organizational management. As such, it is increasingly imperative to discover ways for businesses to adapt to changes in the markets and seize various digital marketing opportunities. Improving Business Performance Through Innovation in the Digital Economy is an essential reference source for the latest research on the impact of digital computing. It investigates new economic and entrepreneurial approaches to enhancing community development. Featuring research on topics such as business ethics, mobile technology, and cyber security, this book is ideally designed for knowledge workers, business managers, executives, entrepreneurs, small and medium enterprise managers, academicians, researchers, students, and global leaders seeking coverage on the management of sustainable enterprises.

In the context of what is commonly referred to as consumer-centric digital economy, personal data has become the new currency which is utilized by consumers to be granted access to seemingly “free apps” within so-called digital zero-price markets. Simultaneously, there are consumers, known as “content creators”, who can generate million-dollar revenues annually. The current understanding of how consumers create and capture value within this new digital economy is scarce and more research is needed to systematically build a basis for creating an understanding of value creation and capture in the consumer-centric digital economy, based on a consumer perspective. The purpose of this dissertation is consequently to explore how consumers create and capture value within a consumer-centric digital economy. The explorative study also serves to obtain an initial overview of the phenomenon and the widely dispersed literature which spans different research fields. The collected data constitute more than 500 articles in combination with empirical data collected from websites. Based on the current literature, central concepts related to consumer-centric digital economy are explained. These include for instance Web 2.0, user-generated content and the consumerto- business relationship. The different concepts are discussed in relation to each other and a trend analysis shows that these concepts are on the rise and have become increasingly popular. The results show that consumers within the digital economy may take different roles, and some create value as business-oriented consumers (i.e., consumers who have a commercial interest). For instance, they make a business out of their participation in the digital economy. Examples are YouTubers, bloggers or creators in virtual worlds such as Second Life. Another, probably larger category is characterized as traditional consumers, for instance they participate in the digital economy through their use of seemingly “free” apps but do not reap any direct monetary benefits. By sharing their personal data, they take part in value creation in a more passive way. The findings also indicate that the level of control, e.g. determined by whether or not value is created within the digital platform, may characterize the prerequisites for value capture. Based on this, a taxonomy for value creation and value capture by consumers in the digital economy is developed. The study also identifies different business model types for business-oriented consumers. I samband med vad som benämns konsumentcentrisk digital ekonomi har persondata blivit den nya valutan som används av konsumenter för att få tillgång till tillsynes gratis applikationer inom så kallade digitala nollprismarknader. Samtidigt finns det konsumenter, så kallade innehållsskapare (content creators), som kan generera intäkter som uppgår till flera miljoner euro per år. Den nuvarande förståelsen för hur konsumenter skapar och fångar värde inom denna nya digitala ekonomi är begränsad, varför det behövs mer forskning för att systematiskt bygga upp en grund för att skapa förståelse för värdeskapande och värdeåterföring inom den konsumentcentriska digitala ekonomin utifrån ett konsumentperspektiv. Syftet med denna avhandling är följaktligen att undersöka hur konsumenter skapar och fångar värde inom en konsumentcentrisk, digital ekonomi. Den explorativa studien bidrar också till att ge en initial översikt över fenomenet och den spridda litteraturen som sträcker sig över olika forskningsområden. Datainsamlingen utgörs av mer än 500 artiklar i kombination med empiriska data som har insamlas från webbplatser. Baserat på aktuell litteratur förklaras centrala koncept som relaterar till konsumentcentrisk, digital ekonomi. Dessa koncept inkluderar bland annat Web 2.0, ”User-generated content” och ”consumer-to-business”-relationen. De olika koncepten har ställts mot varandra och en trendanalys av dem visar att de blivit allt populärare. Resultaten påvisar att konsumenter inom den digitala ekonomin kan ta på sig olika roller, som exempelvis affärsinriktade konsumenter (d.v.s. konsumenter som har ett kommersiellt intresse). Till exempel skapar de affärer utifrån sin delaktighet i den digitala ekonomin. Det kan handla om YouTubers, bloggare eller skapare inom virtuella världar såsom Second Life. En annan och troligtvis större kategori kan karaktäriseras som passiva konsumenter, utifrån sin delaktighet i den digitala ekonomin genom användandet av till synes ”fria” appar, där de inte skördar några direkta monetära fördelar. Genom att ge tillgång till persondata så bidrar de på ett passivt sätt till värdeskapande. Resultaten påvisar också att möjligheterna att fånga värdet bestäms av om värdeskapandet har skett inom, eller utanför, ramarna för den digitala plattformen. Baserat på detta, har en taxonomi för konsumenters möjlighet att skapa och fånga värden inom den digitala ekonomin utarbetats. Studien identifierar även olika affärsmodeller för affärsinriktade konsumenter.

The final section considers the political ramifications of information technology for critical societal debates ranging from privacy to intellectual property. The contributors to the book map out how the digital revolution shakes up politics, creating new economic and political winners and losers. In order to do so, they connect theories of political economy to the implications of digital technology for international as well as national markets.Attempts to construct a framework for analyzing the international digital era: one that examines the ability of political actors to innovate and experiment in spite of, or perhaps because of, the constraints posed by digital technology. This book examines the reaction of nations to the dual challenges of globalization and technological change.How do high wage countries stay rich in a global digital economy? "How Revolutionary was the Revolution" constructs a framework for analyzing the international digital era: one that examines the ability of political actors to innovate and experiment in spite of, or perhaps because of, the constraints posed by digital technology. In order to assess the revolutionary nature of the digital era, this book takes four overlapping approaches. First, it examines the reaction of nations, specifically Finland, Japan, and emerging markets, to the dual challenges of globalization and technological change. This section identifies both successful and failed national experiments intended to deal with these dual pressures. Second, it assesses corporate attempts to leverage digital technology to reorganize work. A broad range of issues including off-shoring, open source production systems, and knowledge management are addressed. Third, devoting detailed analysis to the case of mobile telephones, the book offers insights into the political economy of market evolution in the digital era.

Rapid technological advancements have the ability to positively or negatively impact corporate growth and success. Professional leaders and decision makers must consider such advancements when designing and implementing new policies in preparation for the sustainable future of the business environment. Multi-Sided Platforms (MSPs) and Sharing Strategies in the Digital Economy: Emerging Research and Opportunities is a critical scholarly resource that examines platform strategies and business models with a focus on multi-sided platform business models. Featuring coverage on a broad range of topics, such as digital collaboration, business ecosystem, and platform value chain, this book is an ideal resource for managers, researchers, academics, practitioners, and students interested in recent trends in business models in the digital age.