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Information technology is playing a key role today in enhancing value of modern enterprises that operate over the virtual platform. Increasing scope and popularity of internet and Internet of Things (IoT) has opened new gateways to tremendous business opportunities globally. The advent of digital revolution has brought radical transformations in the ways of doing business consequently compelling every organization to adopt and implement state of the art technological resources and IT infrastructure due to the worldwide popularity and extensive utilization of digital resources across every sector.
Organizations today perceive digitization of its business processes as a key determinant of success due to the increasing adoption, popularity, and usage of digital resources by people of all age groups across the world. Today, internet and IoT are being extensively used by people globally as a primary means of instant communication, data sharing, information interchange, and executing critical business activities including group messaging, tele conferencing, chatting, and VoIP (Angelova et al. 2017).
Today, instant uninterrupted communication and real time data sharing holds key to successful completion of various critical business tasks that not only saves tremendous amount of valuable business time and resources but also enables key decision makers of the business to promptly and aptly execute critical business decisions in real time based on the readily available business relevant data.
It is impossible to imagine a world without internet and IoT as these digital resources form the core of all critical business activities today. Numerous users across the world extensively use various digital resources, namely, laptops, PCs, smartphones, and tablets for executing varied tasks such as shopping, booking flight reservations, transferring funds, dating, hotel reservations, etc.
The impact of digital revolution can be known from the fact that that almost all businesses having international presence have a dedicated online portal for its consumers meant for availing the offered products or services of the enterprise. In fact, the revenue generated by online mode of business is far greater than offline mode across all sectors. This significantly emphasizes on the consistently increasing popularity and usage of internet and IoTs by people at large. As a consequence almost all businesses today that operate in local and international markets are obliged to adopt advanced digital resources for harnessing maximum business opportunities (Nowodzinski et al. 2016). This report aims to discuss and analyze how appropriate implementation of various digital resources could enable a newly established business to derive optimum business advantage.
This study aims to provide valuable insights on how apt planning and implementation of various digital sources can generate anticipated business benefits for the owners. The following are the key objectives this report intends to accomplish:
This study shall employ exploratory research approach for researching and gathering relevant data from the web. It will mainly use secondary sources of information available online that mainly includes journals, peer reviewed articles, magazines, and websites. The rationale for using exploratory research method is because of the fact that it allows researcher to investigate and diagnosis research issues, identify issues of interests, and generate appropriate solutions based on the study interpretations. This study shall mainly apply qualitative analysis thus enabling researcher in aptly inferring the qualitative aspects of study through thematic analysis.
The outcomes of this study shall demonstrate the increasing scope and importance of internet and IoT also referred as digital resources and its inevitability in ensuring success, growth, and increased business performance. As this study shall mainly focus on how appropriate planning of digital resources ensures anticipated business outcomes for a newly established enterprise, it shall also focus on how varied technological advantages and commercial benefits can be derived by an enterprise thus saving tremendous business costs on advertising, marketing, and promotions (Nguyen, & Simkin 2017). Additionally, the study shall justify its stance by incorporating various authoritative secondary sources of data relevant to the theme. The following are some of the important deliverables of this project:
This report shall primarily use Harvard referencing style (Australian). The formatting of the report, in text citations, and bibliography will be in Harvard format.
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