Discuss about the Digital Economy Patterns of Work and Production and Trade.
The digital economy has captured financial data transaction that is planned for developing standard of the students and assist theme to use money wisely. Money management assists to severe the issues that can be helpful for the students. On the other hand, classroom economics assists the students to manage the process and helps to improve their lifestyle. Classroom economics also engages the students in banking. The digital economy applications in mobiles are able in learning the applications to understand the process of managing the applications so that it will be helpful to manage the process. In the current study, the factors that affect the process of adopting the ICT process that can be helpful understand the process and reason of adopting digital economy. In addition, affordances of designing the use of technology are described in the paper. Appreciation of the information system that influence the situation is also explained in the study.
In order to survive in this new era of technology this particular concept is very much useful. In order to drive digital transformation all specific factors are needed to be identified and applied for business success (Weller, Kleer & Piller, 2015). The issues associated to the business application will be optimized with proper application of the digital economy factors. The details of the factors are illustrated in the below section:
The third wave of capitalization: The third wave of the capitalism is referred to as a mature digital economy that is widely operated in the classroom environment. The digital system will not have the transformed consumer behavior but also it has the ability to force the organizations to be a more flexible as well as nimble one (Graham, Hjorth & Lehdonvirta, 2017). The four of the universal phenomena that, impacts and drive the emerging economy in terms of mobility, cloud computing, business intelligence, social media etc. In order to design the system as a globalized one it is necessary for the developers to design the digital system in such a way so that it can effectively be operated in any sort of digital environment (Jones & Pimdee, 2017). The issues that may negatively impact the traditional system will be resolved with the successful implementation of the digitally transformed system. However, instead of direct transformation some of the activities cal also be modified accordingly to minimize the system level application errors.
Corporate growth strategy: This is another important factor that has to be considered by the system developers for mote business appreciation and business improved productivity. Based on the purchasing and selling power the business success strategy should have to be prepared by the system developer.
With the changing technical era the concept of technology and its application in different fields are also changing accordingly. It is the role of the company and the organization owners to adopt the most suitable digital economy pattern. For this specific report the digital economy pattern that has been nominated is the classroom economy. This approach is merely used in the classroom and helps the students to define the set of rules about what is correct and what is wrong. (Sundararajan, 2014). For this specific paper the classroom digital economy is being considered. With the help of the classroom economy the students will be able to discriminate right and wrong perspectives and the purposes for which the money should be used. In current days the money management has arose as a serious issue. The classroom economy will help them to learn the ways through which their knowledge and skill can be applied to earn money in the upcoming future. This application also holds the banking and financial records of the students and keep them safe from the external unreliable users (Scholz, 2017). They will be able to gain ideas regarding wise usage of the money. Again, the digital economy also defines the online learning app. It helps t o develop a virtual classroom for the students where the students will feel free to ask for their queries to the teachers regardless of time and their location s well. It has been found that the online learning app is a web based application that delivers a less costly concept of classroom for both the students and the teachers.
This kind of digitized system is user friendly and provides wide space to the users at the same time. Through the digital platform the users in terms of both the learners and the students will be able to gain usability success (Postigo, 2016). These kinds of applications are not costly as well, only in order to become the pat of the virtual classroom a subscription package is needed. In case of physical classroom both students and the teachers have to follow the time boundary. The digital trend developers must follow forward looking mobile strategies to make sure that the usage of the internet access details are accurately being followed by the system developers and the users as well.
Moreover, it is also defined that this kind of systems are enough secured from the rest f the systems. As, in this case all the documents related to students and the teachers are stored digitally thus proper digital strategies are also applied on those in order to keep the information safe from the external attackers (Nakamura, Samuels & Soloveichik, 2017). Encryption and firewall are the two different security mechanisms applied in the system to make sure that n0ne of the external users are capable to access information from the server without permission from the users’ authenticated person.
It has been found that, cloud marketing and storage virtualizations are obtaining ground. In order to make system level storage safeguard all the digital operations are needed to be designed based on the consumers requirements priority (Van Ark, 2016). If the security practices are avoided by the system developers then it will cause operational and functional issues which may again negatively impact the users. Based on the requirements of the emerging market the digital transformation requirements and specifications should be incorporated.
In the online discussion forum the students will be able to share their creativity and ideas with the rest of the students also. There are many factors that are affecting the adoption process of the digital economy pattern (Black & Edwards, 2015). Not only classroom but the small and medium sized enterprises are also getting affected with the digital economy patterns. Due to the excessive usage of the digital economy the classroom landscape is very frequently evolving largely due to the digital technologies. On the other hand the digital technology also helps to create a strong connectivity between the service providers and the consumers. For this particular case the service providers are the digital application developers and the consumers are the teachers and the learners who are using this digital app for increasing the business efficiency and effectively simultaneously (Fuller, Warren & Rahman, 2015). In order to explore new business platform the concept of emerging economy should have to be identified and applied accordingly. The subsystems that are considered for the online system are based on mobile application.
Conclusion
From the above study, it concludes that application of digital economy is important for the students. The design of applications, it is important to manage the process. With respect to the applications, peer learning and individual evaluation is important in this aspect. Hence, studying the factors will be helpful to understand the challenges faced while using the applications. The students use the application in real world scenario. In addition, it is required to manage the process that provides help to use money wisely. On the other hand, the new digital application can be helpful to the teachers and students.
References
Black, S., & Edwards, M. J. (2015). What’s Digtial about Fashion Design? Fashion, Technology and the Digital Economy.
Fuller, T., Warren, L., & Rahman, M. (2015). Business model innovation in a global digital economy, an anticipatory perspective to researching rural enterprises.
Graham, M., Hjorth, I., & Lehdonvirta, V. (2017). Digital labour and development: impacts of global digital labour platforms and the gig economy on worker livelihoods. Transfer: European Review of Labour and Research, 23(2), 135-162.
Jones, C., & Pimdee, P. (2017). Innovative ideas: Thailand 4.0 and the fourth industrial revolution. Asian International Journal of Social Sciences, 17(1), 4-35.
Nakamura, L. I., Samuels, J. D., & Soloveichik, R. H. (2017). Measuring the “free” digital economy within the GDP and productivity accounts.
Postigo, H. (2016). The socio-technical architecture of digital labor: Converting play into YouTube money. New Media & Society, 18(2), 332-349.
Scholz, T. (2017). Uberworked and underpaid: How workers are disrupting the digital economy. John Wiley & Sons.
Sundararajan, A. (2014). Peer-to-peer businesses and the sharing (collaborative) economy: Overview, economic effects and regulatory issues. Written testimony for the hearing titled The Power of Connection: Peer to Peer Businesses.
Valenduc, G., & Vendramin, P. (2016). Work in the digital economy: sorting the old from the new (No. UCL-Université Catholique de Louvain). Brussels: European Trade Union Institute.
Valenduc, G., & Vendramin, P. (2016). Work in the digital economy: sorting the old from the new (No. UCL-Université Catholique de Louvain). Brussels: European Trade Union Institute.
Van Ark, B. (2016). The productivity paradox of the new digital economy. International Productivity Monitor, (31), 3.
Weller, C., Kleer, R., & Piller, F. T. (2015). Economic implications of 3D printing: Market structure models in light of additive manufacturing revisited. International Journal of Production Economics, 164, 43-56.
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