Basic Business Research Articles

Медиаменеджмент как перспективный инструмент цифрового управления

The issues of studying the concept of media management from the point of view of its use as a tool for managing the digital transformation of business processes and the economy as a whole are considered. Approaches to the definition and content of the term “media management” are analyzed, the specifics and conditions for digitalization of the media market are explored. The key factors determining the further active development of media management and the media environment are identified, and the content of the digital transformation of the media market is revealed. The most relevant models of modern media management in digital management have been identified. The attention is paid to the study of such issues as key factors in the development of media management; media management as an integrated management tool; media as a tool for managing the digital economy; trends in digital transformation and development of media tools. Scientific works devoted to this problem have been studied. The characteristic features of media management as a modern methodology for managing business development and list promising ways to organize the management process, types and tools for using media in digital management are highlighted. An analysis of the current state of the media market is carried out, as well as a forecast for its further development within the framework of the domestic digital economy. The most promising areas of media management are proposed and key trends in media management are listed. Media management at its core is a direction of the digital economy, the transition to which has received significant attention as part of the development of the domestic system of expanded reproduction. Media management as a modern management tool is a rather multifaceted concept that largely determines the trends in the further development of the domestic media market and the digitalization of the modern economy. The growth of the media market contributes to an even more active digital reorientation of basic economic and business processes.

THE USE OF MOBILE PHONES BY CATFISH FARMERS AT UTEH FISH FARMING CLUSTER IN BENIN CITY, NIGERIA

It is important to understand how catfish farmers use mobile phones in their business activities to enhance the adoption and utilization of mobile phones in fish farming. The study assessed catfish farmers' use of mobile phones for business activities at Uteh fish farming cluster, Edo State, Nigeria. The study examined the business activities mobile phones are used for, the fish farmers' perceived competence, and the challenges faced in using their mobile phones. Data were collected from 71 catfish farmers at the Uteh fish farming cluster through convenience sampling, using a structured interview schedule. Frequency counts, Percentages, means, and correlation were used to analyze the data. The results show the average age of the farmers to be 44 years, farmers were mostly (71.8%) male, and about 90% of them were married. All (100%) of the fish farmers indicated that they used their mobile phones for basic business activities like receiving calls and sending SMS, using social media apps such as WhatsApp, contacting buyers, and taking pictures for business. The Catfish farmers were competent in the use of mobile phones except in obtaining loans (mean = 2.42), using aquaculture apps (mean = 2.62), and checking weather forecasts (mean = 3.62). However, the use of mobile phones by the catfish farmers was constrained by poor network coverage.

Pengaruh Sistem Informasi Akuntansi dan Penerapan SAK EMKM terhadap Keberhasilan UMKM

The aim of this research is to determine the influence of the Accounting Information System and the Implementation of SAK EMKM on the Success of MSMEs in East Alok District. This research uses a quantitative approach with the nature of explanatory research. The sampling technique used saturated samples with a sample size of 30 people. The data collection technique used a questionnaire distributed to 30 respondents and the data analysis technique used multiple linear regression analysis using the Statistical Package for the Social Sciences (SPSS) version 23. From the research results it was found that the variables Accounting Information System (X1) and Implementation of SAK EMKM (X2) influences the success of MSMEs (Y) with positive parameters, which means that the better or higher the level of implementation of the Accounting Information System and EMKM SAK, the higher the level of success of MSMEs. The influence of the Accounting Information System (X1) and the Implementation of SAK EMKM (X2) is 72.9% on the Success of MSMEs (Y) of the Basic Food Kiosk Business in East Alok District, while 27.1% is influenced by other factors outside the research variables.

Improved urban road network and small and medium enterprises’ financial performance: Evidence from Tanzania

This study assessed the impact of improved urban road network on financial performance of Small and Medium Enterprises focusing in Dodoma, Tanzania. The study employed a cross sectional research design where by a sample of 89 SMEs from the selected three wards in Dodoma city was used to draw the conclusion. Qualitative data collected through questionnaires were analyzed using content analysis while quantitative data analyzed using descriptive statistics and multiple regression analysis. The key findings from the study include: i) accessible roads to customers toward SME were having positive influence to SMEs performance ii) market accessibility by customers and consumers was the key factor in improving SMEs financial performance in Dodoma city and lastly, an effective time management and improved transportation of goods and services were positive related to the amount of sales revenue generated by SMEs. The conclusion is drawn to improve the urban road networks as among of the key factors in improving the performance of SMEs in Dodoma city by increasing sales and profit. It is therefore recommended that, the government and other stakeholders in the construction sector should continue to improve urban road networks and start offering basic business and financial management skills which would enable SMEs owners to make informed investment decisions as well as enhance their entrepreneurial skills which will facilitate in recognizing and exploiting the available business opportunities.

Pelatihan Business Model Canvas untuk Meningkatkan Minat Kewirausahaan bagi Mahasiswa Fakultas Teknik Universitas Negeri Yogyakarta

<p><em>College graduates must have a strong entrepreneurial spirit to create job opportunities and reduce unemployment rates. Through entrepreneurship education implemented in almost all majors, students can change their mindset to be more innovative in seeking opportunities. However, in reality, there are still shortcomings in the basic business training provided. In line with the above description, engineering students have great potential in the entrepreneurial world due to the ongoing focus on technology and development. Still, their weakness is that engineering students do not fully understand business fundamentals. Therefore, appropriate training is needed to create a business plan framework. The service method used is lectures and question-and-answer sessions. This training has enabled students to understand entrepreneurship, develop an entrepreneurial mindset, participate in business competencies to hone creative ideas and be able to create job opportunities after graduation.</em></p>

Business model of international consulting: main characteristics and elements

Based on the analysis of the essence and modern types of business models of enterprises, the basic professional service business model of the international consulting "Consultant" and reveals its main characteristics is substantiates: the B2B model, the modification of the "Producer" business model, the integration of elements of service and digital business models, customer orientation. Based on the Business Model Canvas, the main components of the basic business model of international consulting are revealed: key partners: partner intra-service and inter-service networks of the consulting firm; key activity: providing professional assistance to business organizations in solving problems of international economic activity; key resources: intellectual human, organizational, market; value proposition: the value services of international consulting for the client; relations with clients: client orientation, client-centricity, positive client experience, cooperation between consultants and clients at all stages of the consulting process; channels: omnichannel, cross-channel communications; customer segments: target audiences, customer networks; cost structure; income streams. Client networks as a component of the basic business model of international consulting are characterized and measures to optimize them are disclosed: forming a loyal attitude of clients to the consulting firm, consultants, and services; accumulation and protection of a network of regular customers; forming a positive customer experience; improving the efficiency of consultant-client relations; development of omnichannel provision of professional assistance to clients; ensuring client orientation of the personnel of the consulting firm; management of the value and quality of consulting services; introduction of new consulting services and technologies based on consulting innovations.

Pemetaan Daya Saing Produk Industri Kreatif di Sumatera Barat

This research aims to determine the level of economic competitiveness through competitive sectors based on shift-share analysis, leading sectors based on Location Quotient analysis, creative industry mapping, and creative industry product potential in West Sumatra. This research is field research using survey methods. The approach method uses a quantitative and qualitative descriptive approach. The research results show that based on the results of the shift-share analysis there are seven competitive sectors, namely wholesale and retail trade sector, followed by construction, educational services, mining and quarrying, government administration, provision of accommodation and food and drink, services others, while tourism has not been able to compete. Based on the results of the Location Quotient analysis, there are 13 basic and superior business sectors, and the tourism sector which is among the most basic or superior sectors in West Sumatra. The results of mapping the creative industries in West Sumatra showed that Tanah Datar is the area with the most creative workers. Most of the creative industry potential in culinary businesses and is located in Tanah Datar, Pesisir Selatan, Payakumbuh, Padang Panjang, South Solok, Solok, Sinjunjung, Limapuluh Kota, Dharmasraya, Pariaman Districts.

POSTER AS A TOOL FOR DIGITALIZATION OF THE MANAGEMENT SYSTEM OF HOTEL AND RESTAURANT BUSINESS ENTERPRISES

In the basis of the development of modern business, digital transformations have acquired primary importance. The stability of the business, and in general its ability to function, is determined by the level of digitalization. The integration of basic business development tools is considered through the prism of automation, robotics and digitization. In the field of hotel and restaurant business, digital technologies have become the most effective tool for implementing business tasks and solving problems of the control system, constant monitoring and management. The main trajectory of the automation of hospitality enterprises through the prism of the introduction of cloud technologies into business has become the use of software products. Cloud automation systems, in particular the Poster program, serve as a modern tool for accounting, control and business management. The Poster program (system) was the first cloud-based automation system developed in Ukraine to serve hotel and restaurant businesses. This software product has become a successful modern initiative, which is used with pleasure by twenty thousand hospitality establishments. When the enterprise implements this cloud technology, the approach to the organization and conduct of business has completely changed, the management system has acquired a completely new dimension. Important functions of the module have become such as: cash register for waiters with integrated hall cards; the Kitchen Kit application from Poster with a screen in the kitchen/bar, or with a system of runners; automation of the restaurant delivery service to work with orders from aggregators or personal delivery service; Poster mobile cash register; Poster QR for automatic menu creation in Poster-POS, quick payment, the possibility of tipping the waiter, leaving guest reviews, etc.; the Poster Boss app with the ability to work on a smartphone and more. The convenience of working with the Poster software is manifested in its simplicity and easy accessibility for staff training, since even intuitively, in an hour of work with this cloud technology, you can already work freely. The ability to work with cash register modules for sales and a control panel for owners makes the Poster software product both unique due to its multifunctionality and system, and easy to use. The statistics module automatically summarizes revenue data when the check is closed at the cash register. In the process of selling a finished product or service, ingredients (inventories) are written off from the warehouse according to technological maps developed by the institution. The multifunctionality of the Poster program makes running a hotel and restaurant business more efficient, as convenient as possible in management and acts as a high-quality database for making effective management decisions. The complexity and systematicity of this cloud technology brings the innovative orientation of hospitality enterprises to a new level.

How COVID-19 pandemic affected business excellence: case studies from Greek companies

PurposeThis paper is the third part of a research effort that aims to identify how various crises affected basic business processes using Institut Européen d'Administration des Affaires (INSEAD’s) industrial excellence framework (IEF) in large organizations.Design/methodology/approachThis research compares three data sets from the same four companies against quality management benchmarks, with a span of more than two decades: (1) data collected in 2005 operating under a financially thriving corporate environment; (2) data collected in 2015, operating under a strong financial crisis and (3) data collected in 2022, operating under the serious COVID-19 crisis.FindingsThe authors identify the characteristics that helped them navigate successfully through almost two crises in a row. These companies successfully navigated crises by applying assessment and continuous improvement processes, forging close relationships with their suppliers and training their people systematically.Practical implicationsThe findings can be adopted by practitioners who wish to navigate their organizations during serious crises. Researchers and academics may also find this study interesting for managing quality during a pandemic.Originality/valueThere are not many studies that investigate how the pandemic influenced the quality management practices in organizations in Greece in sequential crises. This paper brings insights into the enduring advantages of adopting a quality framework.

Development of a business model to improve the efficiency of hiring new employees to IT companies

The object of the research is the process of increasing the efficiency of hiring new employees to IT companies, which is considered as one of the measures of continuous improvement of IT project management processes. Hiring talented and motivated IT specialists is seriously complicated nowadays due to the oversaturation of the labor market in the IT industry with candidates who are either exclusively financially motivated or have a low level of qualifications. The consequence of this problem is an increase in time and money spent on identifying and selecting for further processing a subset of resumes of specialists who will be relevant to the needs of the IT company. Therefore, the study of models of active strategies for conducting career guidance activities among future candidates for work in the IT industry is relevant. The purpose of the study is to create a business model for professional orientation of candidates for positions in IT companies. This business model should combine the advantages of basic business planning models and flexible business development methods, taking into account the peculiarities of the process of professional orientation in the IT industry of Ukraine. As a basis for this business model, it is proposed to use the Business Model Canvas. Within this model, to increase the flexibility of activities related to the presentations of IT professions, it is proposed to use the Walt Disney method. During the research, Walt Disney's derivative method was modified by abandoning his first stage use of the role of the Dreamer and instead using the role of the Optimist. A person in the role of an Optimist should determine the advantages, positive aspects, favorable opportunities of the presentation object, etc. The results of the modification of Walt Disney's method were used during the development of the Business Model Canvas for the process of increasing the efficiency of hiring new employees to IT companies. The key activities of the Business Model Canvas were determined, the sequence of their implementation was established, which allows eliminating the shortcomings of individual activities.

Pengaruh Pemahaman Pencatatan Akuntansi Dan Kesiapan Modal Terhadap Efesiensi Pendapatan Usaha Sembako

To determine the influence of understanding accounting and capital readiness on the efficiency of basic food business income. Quantitative is a research method that uses data in the form of numbers and the collected data is analyzed using statistical formulas. The population that will be used in this research is MSME actors, especially basic food businesses registered with the Bayung Lencir District Cooperatives, Small and Medium Enterprises Service, totaling 100 MSME business actors. The classical assumption test is a prerequisite for multiple regression analysis, this test must be influenced so that the estimates of parameters and regression coefficients are not biased. In testing this class of assumptions, namely the normality test, multicollinearity test, heteroscedasticity test, autocorrelation test. Partially, accounting records have a more dominant influence than capital readiness in increasing income efficiency. This shows that understanding accounting records is very influential in increasing revenue efficiency and business sustainability, because by understanding accounting records, business actors can manage business finances and make decisions about managing their business easily.

WHY GOOGLE GLASSES FAILED?

In this research paper we are basically trying to find out why Google Glasses failed as a product in the market. Google Glasses was launched back in 2012 as a product that created a lot of buzz in the market as “Wearable Smart Glasses”. But it never managed to effectively capitalise on the hype that surrounded the product and failed in capturing the market share and did not turn out as a money-making product. On the contrary, Google lost $895 million and incurred heavy losses and ultimately had to give up on the product. It failed to captivate the imagination of the people and people were not really interested in the product. When we dig deeper into the problem, we found several loopholes and flaws in the product, and in the basic business idea on the fundamental level. First of all, the designers of the idea and the product lacked the clarity as to whether the glasses would be considered as a fashionable device or just stand out as a utilitarian product. The problem was also with the price of the product, as this was so expensive that only the rich could afford and hence inaccessible to the masses and a limited target market. The people were also concerned with the privacy aspect as the current generation is quite conscious about their data being recorded and people did not really like this aspect of Google Glasses. People were even concerned with the safety of this product. People were not really great fans of the design of the glasses and generally regarded the product as uncool. Moreover, the grim problem of low battery life on the glasses was another major flaw. Nobody likes it, if they have to charge their product every now and then, it really drops the satisfaction level, and this happened with Google Glasses as well. The design of the glasses was unappealing and the glasses regularly faced heating and language issues. So overall these were the factors we found out that contributed in the product ending up as a huge failure in the market, despite the fact that it had a huge brand value as the likes of Google backing it up.

Discrete Federated Multi-behavior Recommendation for Privacy-Preserving Heterogeneous One-Class Collaborative Filtering

Recently, federated recommendation has become a research hotspot mainly because of users’ awareness of privacy in data. As a recent and important recommendation problem, in heterogeneous one-class collaborative filtering (HOCCF), each user may involve of two different types of implicit feedback, that is, examinations and purchases. So far, privacy-preserving HOCCF has received relatively little attention. Existing federated recommendation works often overlook the fact that some privacy sensitive behaviors such as purchases should be collected to ensure the basic business imperatives in e-commerce for example. Hence, the user privacy constraints can and should be relaxed while deploying a recommendation system in real scenarios. In this article, we study the federated multi-behavior recommendation problem under the assumption that purchase behaviors can be collected. Moreover, there are two additional challenges that need to be addressed when deploying federated recommendation. One is the low storage capacity for users’ devices to store all the item vectors, and the other is the low computational power for users to participate in federated learning. To release the potential of privacy-preserving HOCCF, we propose a novel framework, named discrete federated multi-behavior recommendation (DFMR), which allows the collection of the business necessary behaviors (i.e., purchases) by the server. As to reduce the storage overhead, we use discrete hashing techniques, which can compress the parameters down to 1.56% of the real-valued parameters. To further improve the computation-efficiency, we design a memorization strategy in the cache updating module to accelerate the training process. Extensive experiments on four public datasets show the superiority of our DFMR in terms of both accuracy and efficiency.

Environmental optimization and operational efficiency: Analysing the integration of life cycle assessment (LCA) into ERP systems in Moroccan companies

During the 2000s, the synergy between Life Cycle Assessment (LCA) and Enterprise Resource Planning (ERP) systems represented a major step forward in the integration of environmental sustainability into basic business processes. This study set out to investigate how Moroccan enterprises incorporate LCA into their ERP systems, aiming to understand the impact on environmental sustainability and operational efficiency. Through a methodical empirical study, involving a survey distributed to 220 companies across Morocco, the study garnered 95 qualified responses. These responses, from companies that own and operate ERP, were analysed using SPSS V25.0 for statistical and correlation analysis. The findings highlighted that the fusion of LCA into ERP systems fosters a more sustainable and efficient framework for business operations among Moroccan companies. Such integration not only secures a competitive advantage for businesses but also contributes to global sustainability goals. The analysis verified that Moroccan companies, by weaving LCA into their ERP systems, can refine their decision-making by weighing environmental alongside economic and operational considerations. This integrated approach underpins a holistic sustainability framework, helping companies align their activities with environmental targets more effectively. Moreover, the survey illuminated a pronounced correlation between the company size and the propensity for integrating LCA into ERP systems, with larger firms showing a more marked inclination towards this synergy compared to their smaller counterparts. Consequently, integrating LCA with ERP systems is revealed as a pivotal strategy for Moroccan businesses, equipping them with a mechanism to embed sustainability into their operational and strategic planning.

The Disruptive Innovation and Entrepreneurship Education: The Literature Review and Current Practices

Entrepreneurship education is changing dramatically due to rapid technological advancements and transformative business models. This study investigates the interactions and implications of existing frameworks and practices that link disruptive innovation with entrepreneurship education. The research employs a comprehensive literature review from 2019 to 2023, to synthesize detailed analyses for investigating the interplay of these concepts. Entrepreneurship education fosters the ability to recognize and capitalize on innovative opportunities, whereas disruptive innovation emphasizes value creation through norm-breaking when aligned with entrepreneurial principles. Effective entrepreneurship education can drive new businesses and revitalize existing ones by enabling individuals to capitalize on disruptive breakthroughs. However, incorporating disruptive innovation into courses is challenging. Traditional education may fail to capture the dynamic nature of disruptive innovation, and risk-averse academic environments may stifle experimentation. Innovative teaching methods that balance basic business concepts with disruptive thinking are essential. Finally, a new generation of entrepreneurs can be developed by combining disruptive innovation and entrepreneurship education. Individuals can capitalize on opportunities for economic growth by infusing programmers with disruptive principles. The study identifies five key components of convergence: (i) technology-enabled virtual learning environments (VLEs), (ii) online distance learning (ODL), (iii) digitalization in entrepreneurship education, (iv) competency-based education (CBE) that fosters Business Model Innovation, and (v) experience-based learning in entrepreneurial education. This paper examines the role of disruptive innovation in entrepreneurial education, proposing research directions and highlighting unresolved areas for investigation.
 Keywords: business model, disruptive innovation, entrepreneurship education, technology, online distance learning

Impact of Microfinance Institutions Lending on SMEs Growth in Zimbabwe

This study investigated on the impact of microfinance lending on Small to Medium enterprises (SMEs) growth. This study adopted pragmatism philosophy wherein both positivism and interpretivism approaches were deployed. This study also adopted descriptive and explanatory research designs; the explanatory design for quantitative research and the descriptive survey for qualitative research. Proportionate stratified random sampling was used to select respondents that participated in questionnaires and judgemental sampling to select respondents who participated in interviews. Data was collected through the use of questionnaires with closed ended questions and interview guide instruments. Data was analyzed using Statistical Package for Social Sciences (SPSS), Thematic Approach, Microsoft Excel, and Microsoft Word packages. The study found that MFIs sell financial and non-financial products to clients. MFIs provide basic business skills, help with capital investment decisions, general business management and risk management. This finding extends the current body of knowledge on microfinance institutions lending impacts on SME growth. The study recommends that leadership strategy is one of the important strategies that can be embraced by MFIs to enable them survive competition in the market. MFIs need to increase flexibility, use holistic and innovative financing, employ research, take advantage of technology and make lending personal to SMEs. Because the transactions are frequently small and the clients are mostly from difficult-to-reach locations, most formal financial institutions regard the poor as high risk and high cost. Microfinance institutions must break these barriers. This allows low-income families (SMEs) to stabilize their income flows and save for future needs. MFIs need to keep on providing their services to SMEs. MFIs also need to keep providing business training to equip SMEs with requisite skills in savings mobilization and micro enterprise investment options. Policymakers and other social partners must develop and implement strategies to boost SME growth in their respective countries. To build a knowledge base for SME growth, authorities at the local, national, and regional levels must conduct evidence-based analysis to feed social dialogue and policymaking processes.

Implementation of an Application-Based Goods Sales System at the Mitra Berkah Pemangkat Shop

Doing the basic food business is a business that is always alive, growing and developing, carried out by business actors in the basic food sector because these nine basic ingredients are part of the lives of Indonesian people. Therefore, basic food stores are mushrooming everywhere, present in communities both in rural and urban areas. More familiarly, the basic food stores don't seem to be far away because every few hundred meters there is a basic food shop or stall. Even in people's markets or traditional markets, most of the grocery stores serve their customers side by side. Grocery stores play a role in the process of economic growth among the lower middle class. These basic foodstuffs or nine basic commodities are very familiar to Indonesians. This anonymous word is very unique for foreigners and they quickly understand this unique word. The needs of these nine basic ingredients can be met when they are available in nearby shops and will make consumers anxious if they are not available in basic food stores. Therefore, the presence of grocery stores is very important in moving the wheels of the economy. to meet household expenses. This research uses descriptive quantitative research aimed at exploring the management of basic food businesses by traditional-based traders and technology-based traders.

Investigating the Creation of AI-Driven Solutions for Risk Assessment, Continuous Improvement, and Supplier Performance Monitoring

The tenacious development of innovation has pushed associations towards embracing inventive answers for explore the complicated scenes of hazard appraisal, nonstop improvement, and provider execution observing. This exploration examines the prospering field of man-made reasoning (simulated intelligence) and its application in creating powerful answers for these basic business areas. [1] As organizations work in a climate set apart by vulnerabilities, disturbances, and worldwide interdependencies, the joining of artificial intelligence offers a promising road to upgrade navigation, moderate dangers, and drive persistent improvement. The investigation starts with a top to bottom examination of customary ways to deal with risk appraisal, accentuating their limits and the squeezing need for additional versatile systems. Utilizing a thorough survey of existing writing, the review presents simulated intelligence driven arrangements, enveloping AI calculations, regular language handling, and prescient investigation, to change risk evaluation systems. Contextual analyses are analyzed to show fruitful executions across different ventures, revealing insight into the substantial advantages understood and examples learned. The paper examines the relationship between AI technologies and well-established methodologies like Lean Six Sigma in the context of continuous improvement. It digs into the use of man-made intelligence in prescient upkeep, underlying driver examination, and constant observing, showing how these progressions add to additional spry and responsive hierarchical designs. Difficulties and open doors related with the mix of simulated intelligence into persistent improvement processes are fundamentally inspected, giving a fair viewpoint on the groundbreaking capability of these innovations. As artificial intelligence keeps on reshaping business standards, this examination contributes a nuanced comprehension of its part in risk evaluation, ceaseless improvement, and provider execution observing. Businesses looking to take advantage of AI technologies' full potential while navigating the difficulties and ethical considerations associated with their adoption can benefit from the findings presented here.

ЭФФЕКТИВНОЕ ПРИМЕНЕНИЕ ИСКУССТВЕННОГО ИНТЕЛЛЕКТА В БИЗНЕСЕ ПО УПРАВЛЕНИЮ БАНКОВСКИМИ АКТИВАМИ

The asset management business is an advanced area of development in the banking and financial business sector. It has a relatively independent and complete asset and liability structure and business modules. Among them, business areas such as asset, liability and risk management are natural application scenarios. Artificial intelligence technology currently has some practical applications. At the same time, there are problems such as incomplete basic business data, strong organizational structure specifics and lack of technical reserves. As a result, there is currently no application of artificial intelligence technology used for general sorting and structural design of the banking asset management business. Based on this, this article examines the factors influencing the degree of application of artificial intelligence in the business of managing banking assets, and analyzes strategies for using artificial intelligence in the business of managing banking assets.

INDICATORS AND IMPACTS OF DIGITALIZATION

Digitalization transforms how individuals interacting personally and socially at a larger scale and also the changes taken place in basic structure and business models of the economy. In this paper, I have tried to analyses how digitalization raised important policy changes; including privacy, security, consumer policy, competition, innovation, jobs and skills, among others. Not addressing the above said issues can lead to major economic inefficiencies, reactionary policies, increasing inequality and worse effect in the form of erosion of social fabric, as well as slower growth. Main indicators of digitalization are digital infrastructure, access to and use of digital technologies and services, innovation in the digital economy, skill needed to participate in the digital economy, trust in the digital economy etc. I have used secondary data available from various sources like relevant journals, research papers and some websites etc. It is recommended that, for digitalization, it is necessary to ensure more access to digital technology and services, to setup supportive digital infrastructure by developing high speed networks and services, financing new and innovative business models resulting from digital technology adoption, develop standards for a digital world, regulatory approaches for the ICT sector that are adopted to a converged environment. Digital security, special skills for digital economy, start ups, consumer rights and legal framework are also very important aspects to be taken care of.