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Summary: Digital Economics How Information And Communication Technology Is Shaping Markets... | 9781986751391 | Harald Øverby, et al
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Read the summary and the most important questions on Digital Economics How Information and Communication Technology Is Shaping Markets, Businesses, and Innovation | 9781986751391 | Harald Øverby; Jan Audestad
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1 The Digital Economy
This is a preview. There are 14 more flashcards available for chapter 1
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What are examples of Digital Economy?
Internet, smartphones, mobile and wireless networks, IoT (Internet of Things) -
Why is digital economics important?
Nowadays they are at the heart of all economics (Network, Information, Data, Platform, Virtual, Internet, Sharing, Attention, Abundance) -
What are digital conglomerates
Businessoperations that haveexpanded beyond their original business idea, acquiring competing companies -
Give examples of digital conglomerates
Facebook has expanded to Instagram, Whatsapp, Oculus
Apple has expanded to Beats, Siri, Shazam -
What is the main asset of digital conglomerates
Their network of consumers. They give rise to network effects -
An example of failed disruptive innovation is EASTMAN KODAK: What were the similarities with Alphabet (Google)
Both of them had a defacto monopoly in their heydays -
EASTMAN KODAK: to which business did they diversify throughout the 20th century
They used a vertical integration strategy: they started to manufacture and sell copiers -
How does the recommendation system work
Consumer buys from aretailer - Retailer
identifies similar products - Similar products are recommended to the consumer for purchase
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Why are recommendation and consumer feedback important in the digital economy
They give lots of information about the consumers and their preferences. This allows the companies to improve their business models -
What are the 3 technological evolutions of the digital economy
Digitalization of data
Evolution of the digital ICT infrastructures
Digital processing and storage
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