Technological Forecasting and Social Change

RBV provides a useful lens to view MSEs digitization as a capability for them to survive and also be more sustainable (Eller et al., 2020). Drawing on the RBV, we can better understand the relationship between MSEs and their information technology , employee skills, digital strategy, and digitization. RBV helps better understand the relationship between firm resources and building post-COVID- 19 supply chain resilience (Nandi et al., 2020).

Digitalisation is already improving the safety, productivity, accessibility and sustainability of energy systems. New business models are emerging, while some century-old models may be on their way out. Digitalisation & Energy is the International Energy Agency’s first comprehensive effort to depict how digitalisation could transform the world’s energy systems. The report examines the impact of digital technologies on energy demand sectors, looks at how energy suppliers can use digital tools to improve operations, and explores the transformational potential of digitalisation to help create a highly interconnected energy system. Digital technology can be used to better understand and therefore reduce the environmental impact of supply chains. By benchmarking potential suppliers, compiling corporate social responsibility scorecards and identifying improvement areas, companies can target the areas that will have the most impact .

And it is forecast that by 2040, 14% of greenhouse gas emissions will be attributable to ICT. While the environmental impact of video streaming very much depends on the transmission technology – Ultra-HD resolution on a TV, for example, requires ten times more data compared to HD quality – it is definitely a watch out area for climate change mitigation. Well, education is an indispensable aspect of climate action and digital tools can help to explain and spread sustainability topics and the need to drastically reduce greenhouse gas emissions.

Savvy organizations will focus now on leveraging advanced analytics to extract insights from their customer data and continue internal and external data integration efforts to develop a more holistic view. Detecting those signals of change early will be crucial to optimizing the customer experience and redefining customer value propositions in line with evolving preferences and needs. In the cauldron of political debate, much of the blame for the rise in income inequality and underlying business and job dislocations is heaped on globalization—often from both ends of the political spectrum. The backlash against globalization threatens a retreat into economic nationalism and inward-looking policies. As organizations scramble to protect their employees and business, technology is inevitably the way forward.

But none of these issues is simple, so you’ll need new thinking and new digital investments. “If you try to improve sustainability without that sort of ambition, you are likely to fail,” says Markkanen. Visit our resource center for complementary insights on sustainable-business strategy. Data management and analytics are critical enablers for strengthening existing social safety nets that otherwise may be unable to identify, reach and serve all the potential beneficiaries. Digital transformation has a host of other benefits for businesses, not least the financial savings it will yield.

While the monetary and legal implications of such breaches are obvious, the loss of confidence of customers, employees, and other stakeholders may well be a deeper concern. The last several years have seen hackers strike any number of retailers, TMT companies, and government agencies, with the resulting security breaches costing terabytes of internal data, millions of dollars, and a large measure of user and customer trust. Emerging from the first-order trends, “data and analytics” and “security” are gaining prominence, as companies within the digital ecosystem master the digitized business environment. The proliferation of XaaS is augmented by underlying foundational trends that enable enterprises to connect and work with multi-tenancy, become location- and device-independent, and enjoy rapid scalability. XaaS’s pay-per-use and on-demand model can not only reduce capital requirements—it helps in rapid implementation, cost predictability, agility, and balanced ROI. All of these combined make XaaS a potential disruptor to current business dynamics and open up avenues of value creation.

The greening by ICT effect has significant potential to help decarbonize other industries, among them transport, energy, agriculture, waste disposal, finance; the list is very long. The more other sectors become digitized – or further digitized – the more energy-efficient they become. By leveraging advances such as 5G and cloud computing, businesses and utilities are becoming more sustainable than ever before with global emissions savings potentially ten times higher than the emissions the ICT sector generates itself. Meanwhile, the start-up Circularise uses blockchain for supply chain transparency and trusted data-sharing without disclosing datasets or partners. Read more about buy real instagram followers here. Their smart questioning system allows any user to check a product’s materials sourcing across the supply chain using QR codes or RFID tags. Additionally, companies utilize blockchain technology to track payments for waste pickers.

Digitalization offers tremendous scope to improve the delivery of care – benefiting patients, clinicians and administrators alike. It also has significant potential to reduce the environmental impact of healthcare. However, we can only harness that potential by purposely designing our digital systems to advance sustainable development, and by working together with others in our ecosystem – care providers, practitioners, knowledge partners, and suppliers. Accelerating digital technologies consumes energy and resources and creates emissions, no surprise there. However, the more digitalisation is powered by green electricity, for example, the more sustainable and environmentally friendly it becomes.

The most economical transaction is to minimize transaction cost and maximizes the price, which is the acceptable transaction mode (Roeck et al., 2020). Sensing and seizing capabilities help MSEs create and discover opportunities in the COVID-19 period. However, to execute a digitization strategy, MSEs need transforming capabilities to realize the full potential of strategic change . However, MSEs face significant challenges like systemic failures and unintended consequences in building sensing capabilities to predict the latest digitization trends (Chen et al., 2021). Dynamic managerial capabilities and business units dedicated to scenario planning are essential to mitigate such challenges (Ramírez et al., 2013).

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