Study Guide

Objective

This course will offer students a unique mix of theory and practical insights on the digital economy. Where digital implies digital products, process, services, business models, monetization, and competition in the digital economy. A better understanding of the digital economy and its economics is deemed vital for the implementation of successful business strategies to push the growth and competitiveness of a firm or organization. In addition, students will gain strategic tools, concepts and perspectives that will help them develop a strategic insight to the new digital possibilities from the global digital landscape and how to align organizational strategy execution with them. Such as, how to leverage digital to develop compelling value propositions that will help turn a threat from the global digital economy into opportunities. The growth and the structure of the global digital economy will be explored. The basis for digital based-offerings, industry value chain, patterns of demand and competitive pressures that impact industries and nations because of the growth of global digital economy will be covered. How collaborations in a fast-changing digital world are formed through various levels of ecosystem and platforms-based business models and strategies. Network effects and types of strategies that digital companies apply to compete and dominate the market successfully and how they have been able to scale globally with unprecedented dominance. The emergence and the role of data (economy) in the global digital economy, Artificial Intelligence (AI) and its value creation powers and the arguments and key challenges of digital trust in the global digital economy.

Main competences on the course: proactive development, operating in a workplace, sustainable development

Content

The digital economy: an overview
The global digital economy
- Nature of Digital Economy. Predecessors of Digital Economy. Stages of Evolution of Digital Economy.
- What is Shaping the Future of Digital Economy
- Digital Economics: Main Types of Digital Economy Business Models.
- Nature of competition in the global digital economy
Drivers of the digital economy
- The data economy: The emergence and the role of the data (economy) in the global digital economy
- Digital Technologies
- Trends in connectivity
- Connectivity and consumer driven internet
- AI and its value creation powers and its key challenges
Value creation and capture in the digital economy
The growth and the structure of the global digital economy
- Digital based offerings
- Industry value chain
- Ecosystem and platforms-based business models.
- Global dimension to the digital economy
- Network effects and the types of competitive strategies
- Digital currencies
- Digital Trust

Evaluation scale

H-5

Assessment criteria, satisfactory (1)

Grade 1 - 2: The student
- is able to analyze the special characteristics of the digital economy on the business environment.
- can interpret and explain the challenges of SME’s in the digital era.

Assessment criteria, good (3)

Grade 3-4: The student
- is able to analyze the influence of digitalization on his/her own working place.
- is able to analyze the challenges and opportunities of digitalization in the global economy

Assessment criteria, excellent (5)

Grade 5: The student
- is able to analyze on a deeper level, the influence of digitalization on his/her own working place.
- is able to assess and design feasible ideas for exploiting digital opportunities at his/her working place.
- is able to demonstrate competence in leading the development of team work, for planning creative ideas for the sustainable development of business operation in the digital economy.