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Define The Digital Revolution and List Its Components

The digital revolution involves the shift from analog to digital technologies including computers and the internet. Its components are web presence, cloud access/information, and mobile application development. The digital economy is characterized by digitization/tracking, connectivity, sharing resources, personalization, and direct relationships between buyers and sellers. The social economy includes co-ops, non-profits, and social enterprises that balance member/user interests with social goals. A digital enterprise fully integrates digital tools across its operations, while a social enterprise is a business with a specific social mission. Traditional businesses have physical locations versus digital businesses operating online globally 24/7. The digital society reflects how technology impacts life through digital transformation.

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557 views4 pages

Define The Digital Revolution and List Its Components

The digital revolution involves the shift from analog to digital technologies including computers and the internet. Its components are web presence, cloud access/information, and mobile application development. The digital economy is characterized by digitization/tracking, connectivity, sharing resources, personalization, and direct relationships between buyers and sellers. The social economy includes co-ops, non-profits, and social enterprises that balance member/user interests with social goals. A digital enterprise fully integrates digital tools across its operations, while a social enterprise is a business with a specific social mission. Traditional businesses have physical locations versus digital businesses operating online globally 24/7. The digital society reflects how technology impacts life through digital transformation.

Uploaded by

Vikram Kumar
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as DOCX, PDF, TXT or read online on Scribd
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Define the digital revolution and list its components.

Answer

The Dgital Revolution (also known as the Third Industrial Revolution) is the shift from
mechanical and analog electronic technologies to digital electronics, the adoption and
proliferation of digital computers and digital records management, beginning in the second
half of the 20th century.

Central to this revolution is the mass production and dissemination of derivative technologies
such as digital logic, MOSFETs (MOS transistors), integrated circuit (IC) chips, computers,
microprocessors, digital cell phones, and the Internet.

Components:

 Web presence: Originally, if a company wants to search for a market segment, and
filter potential customers or ideal consumers; In addition to learning and providing a
strong and remarkable image, website information in collaboration with the use and
management of social networks is the best way to attack and measure the target
penetration, the positioning and insurance of its market goals.
 Access and Information in the Cloud: The second component must be noted that the
order of the components can correspond to the digitalization level that has a company,
but it is not strict; There may be cases where organizations are very well positioned
on their segment or the audience, which has to digitize or automate the parts or the
entire operation of them.
 Mobile Application Development: Mobile applications quickly have many markets
and industries, because of the mobility and mobility that customers have to accept
products and services quickly and flexibly. Imagine your customers do not have to go
anywhere, they do not have to turn or wait, they do not have to deal with customer
service, and they feel confident to support all parties that GIA gained in the
acquisition of their products or services.

List the characteristics of the digital economy.

Answer

1. Digitization and tracking. In the digital economy, analog objects create digital signals that
can be measured, tracked, and analyzed for better decision-making. The oil and gas industry
has been in the digital era for more than 30 years, but digitized assets have been limited to
high value-added equipment and machinery.
2. Connected. Connecting assets, suppliers, workers and stakeholders via wireless
communication allows people to make data-driven decisions, improving the safety, efficiency
and visibility of the entire enterprise.

3. Share. The digital economy works in common. Over time, businesses will buy as much as
they need and pay for what they use. If you buy what you need, your inventory costs will be
lower, and if you buy your usage as a service, you will only be able to pay for the time spent
in your company and the value. Consider consumers the potential for true cooperation with
gas station operators, third party carriers, refineries and terminals.

4. Individual. Another characteristic of the digital economy is the personalization of


customers. Individual means providing the brand's custom products and experience of your
choice at the time and place you desire. Imagine a gas station delivering at the exact moment
when a particular type of fuel is depleted.

5. Directly. The digital economy also allows oil and gas companies to bypass intermediaries
and eliminate unwanted intermediaries or channels to create a more direct relationship
between buyers and sellers. Simplified ecosystems reduce friction and lower barriers to entry
for players in other parts of the value chain. Monitoring remote services is a good example of
a more direct operation.

What is the social economy?

Answer

The social economy is formed by various companies and organizations such as co-operatives,
mutuals, associations, foundations, social enterprises and egalitarian institutions that share
common values and characteristics, such as:

 Voluntary and open membership


 Democratic governance
 Member / user interests and / or general interest combination
 Adherence and application of solidarity and responsibility principles
 Inter-departmental cooperation is common but public Autonomous management and
independence from institutions
 Reinvest at least most profits to achieve the Sustainable Development Goals and
services for membership or general interests.
Define a digital enterprise and relate it to social business.

Answer

A Digital Enterprise is a business that completes a digitization strategy (aka digital


transformation) and fully integrates digital tools and technologies across all aspects of
operations, from conception to realization and use.

An organization that uses technology as a competitive advantage in its work, both inside and
outside the digital enterprise. The term continues to evolve as more business processes,
products, and business models are transformed into digitized information.

 Describe the social enterprise.

Answer

A social enterprise or a social enterprise is defined as a company with a specific social goal
that meets its main purpose. Social enterprises maximize profits and at the same time
maximize profits for society and the environment. Their interests are primarily used to fund
social programs.

 Compare traditional and digital enterprises.

Answer

A traditional business facility has a physical presence and serves locals by offering services
or products offering through BrickandMortar shops. For digital business settings, people who
are sitting in every corner of the world can use the web leaves and the company's services and
products.

Digital companies operate 24/7 and surpass both geographic barriers and time. You can
create online purchases in the middle of the night from anywhere in the world. Traditional
companies have restrictive restrictions and where they work.

 Describe the digital society.

Answer
The concept of a digital society reflects the modern society's consequences of adoption and
integration of information and communication technologies in the home, workplace,
education and recreation. Digital transformation is reshaping our societies, economies and
industries on an unprecedented scale and speed.

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