Through the help of social media, various new ideas can be gathered by interacting with the people from various communities or some specialists and apply those in the organisational process. The possibility of creating a new product or service rises with increased interaction and gathering information online. However, the innovations have some risks associated with it as the classic way of creating value were modernised with recent strategies, but this is a complex process and of return on investment calculation gets tougher (Carr, 2001). The government bodies are also showing their interest towards digitalization, increase engagement with the civil.
Various data which were totally under government’s possession are now being uploaded on their online portals which are helping some organisation in structuring their models very effectively. When the government bodies open up towards digitalization, it gets various external feedbacks where a participatory model evolves between the citizens and the authorities. The citizen in this kind of democratic economies enjoys greater level of transparency (Zhao et al. The internet technology is very user-friendly and has improved the effectiveness of searching information. Such an open access of internet has helped in great deal of transferring of knowledge and information.
People are rewarded from the digitalization on a greater scale as they are encouraged to actively participate and interact with peers (Zittrain, 2006). The days are gone when people came across the news over newspapers or radios. This era follows the online media, where TV is also little outdated as people get the information over social media or news apps. These days the user-friendly technology is spreading the news much faster where an individual gets the information from the online community he/she is following.
There has been a huge competition online for the news agencies or the companies which are marketing substitute products online. A lot of person or firms are opting for informal but authentic communication patterns (Castel and Gorriz, 2007)The digitalization platform has also created a time saving opportunity where the company has to advertise online as well as get the feedback for same. In these days, the organisation does not need to get the feedback of customers through survey because the customers generally comment their experience about the product on the company’s website or its social
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