Digital Media Impact on the Active Economy of Singapore Essay

After the commencing of internet and related technologies the digital transformation started. It had made economy more active. The hyper connectivity of people led to the connectivity of the business through digital media. At present digital media had changed the course of the active economy and thus the way business happens.

For students it is significant to understand that how this transformation changed the course of the business and with that students of management and business have to analyse the appropriate strategy to grow in field. The universities also asked the students to submit the assignment on the related topics of management and business.

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What Digital Media has changed?

This global interconnected world is changing with the fast pace. The use of new technology to its best has become the fashion. The environment of the economy had changed to that level that it is termed at present as digital media for an active economy. Where all the information registered on internet is used to grasp the business opportunities and that data is generated to create the business information, it is called as the digital active economy platform.

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After the insurrection of digital media the way business people, firms and industries communicate to each other had changed. This had also altered the communication between consumers and producers.

The consumers can get the more information about the product and the marketing of any product became the primal thing in the field of business. The competition value and expression is changed by the digital media.

Digital media for the active economy pushed the need to go with the pace of the development and fashion and the needs of the new processes, change in the management and the new culture if the management. The adaptation of the emerging change had become the biggest challenge to the business and the economy.

What factors of Digital media impacted the economy?

The platform of operating the business had changed. As before it used to happen on the face value but now that place had been taken by the social media. Now the geographical distance doesn’t matter much. The data is driving the business and its reputation.

The digital media is bringing people together and their ways of communication had been changed into more presentable and appealing ideas in digital way rather than the real face way. At present if we see the preferences of the people through the data the software are able to change and grab the change in the references and then change the availability of the product. Thus digital media had change the course of the economy and made it more active.

The digital platforms are capable to change the capacity and change the behaviour accordingly. It’s up to the new strategies by the business people or marketing people that how can they harness the opportunity of change.

There is the structural change which is happening in the terms of changing the social and economic ways and that is not hard to ignore in the emerging ways of the development of the business. The value chains and the support development are happening side by aside.

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