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The impact of digital disruptions on business contracts.

Meaning of Digital Disruption

In recent years, digital disruption become an hot topic and there is need on the part of government that they frame new regulations or remove those which are not accurate as per changing technologies, government should make investment in digital startups, and frame regulations for the purpose of protecting the jobs of workers which are threatened by advanced technologies. The power of technologies which connect the people with each other or with vast amount of information will give number of surprises to the business in 21st century. Government also affected badly when large number of their citizens by their cell phones take part in mini protests which challenge their authority. In this essay, we state the impact of digital disruptions on business contracts. For this purpose we discuss the impact of mobile internet on employment contracts of organizations and also state various aspects related to this concept. Subsequently, essay is concluded with brief conclusion.

Digital disruption has become an important concept from last few years, and usually people confused this term to describe the product which involves digital technology or to use the digitization for the purpose competing against other organizations. This term is also mixed and confused with the term introduced by the professor of Harvard Business School, Clayton M. Christensen that is disruptive technology. According to Christensen disruptive technology means when new technology displaces existing technology.

The definition proposed by Christensen involves narrow concept, and digital disruption is wider as compared to disruptive technology because it involves technology which provide high quality products at lower cost. The key elements of Christensen model state that disruptors enter into existing market and compete directly with traditional business once their impression has been established. Theory stated by Christensen was criticized for conflating model of business and technological innovation.

Digital disruption is a wider concept and defined as the change occurs when new technology and business models directly the value proposition of existing products and services. It is considered as an opportunity but it also involves risk which must be identified for growth and success of business.

It is not surprising that those large numbers of modern disruptive technologies are of a digital nature because of advancement in computing power, connectivity, mobility and data storage capacity. However, there are some technologies such as gene sequencing which can be advanced only through computer programs and data analytics. Digital technologies are interesting in nature because of following things:

  • Organizations require investment to develop technology, and they usually allowed the replication of technology at very low additional cost.
  • There are many features related to network which are widely used by the customers because of which heir value increased.
  • They increase the value by increasing the collection, processing, storage, and transmission of data. They also deliver the transmitted information into digital form.
  • Digital disruption not only change the way of communication but it also change the interaction of individual with each other or with government, business organizations, Society. It also changes the household consumption, engagement with civil society, and supply of labor. There are number of technologies which are known as enabling technologies and these technologies are fundamental to digital disruption because they are able to enable the technological innovation at subsequent level.

Internet and supporting infrastructure of internet such as software, broadband connection, and hardware which are associated includes computers, tablets, smart phones, and routers. Internet connects the peoples and businesses all the time by enable the collection, and distribution of information at low marginal cost.

Some traditional technologies will find themselves outsmarted by their competition and consumers with less loyalty and lack of patience will surprise them. Almost 50% peoples of the world population access combination of cell phones and mobile internet. 5 billion users use cell phones and two billion use internets. These peoples communicate within the border or across the borders, and they also form virtual communities which help in increasing the empowerment of citizens but at the expense of government. These intermediaries are new and they facilitate the development and distribution of content through old boundaries but barriers related to entry are reduced. On the other hand, there is space which is known as interconnected estate, this is a place where individual can easily access the internet and contribute his voice and power to respective change regardless of nationality and living standard of individual.

Impact of Mobile Internet on Business Contracts

Interconnected estate creates opportunities related to growth and development for the powerful estate’s of world and it also impose big challenges to their established ways of governing. These technologies shape the spaces for democracy, autocracy, and also empower the individual in both situations good and ill. States are trying to control the impact of technology on their political and economic power.

Increasing use of mobile internet for personal use and professional use is generally known as consumerization of IT and it also increase the chances of digital disruption in number of industries and their contracts. Some examples are Amazon, Neflix, and Hulu plus which disrupted the media and entertainment industry because they are changing the content accessed by customers and monetized by advertisers. There are some networks in US such as CBS, NBC, and ABC which are still generating the income from broadcasting television shows, but it’s not possible for them to charge much for advertising because there is less number of networks only three and all viewers used television sets to consume the content of such networks. Today, multichannel approach is employed by television networks for the purpose of monetizing their entertainment products.

Because of technology different parts of the production of goods or the delivery related to services are divided into various job segments and it also outsourced. In 1990, communication and information technology facilitates the off shoring of services which can be provided thorough the way of internet connection such as software programming, and mobile internet make the delivery of services easier.

Increasing online platforms such as Uber, Freelancer, Airtasker and 99 designs, and the advancement related to mobile internet connectivity facilitates the businesses to breakdown the jobs in different components and buying the tasks whenever needed. This model of business hire the labor on demand and it becomes the part of emerging gig economy. These arrangements improve the productivity by matching and scaling the resources required by the business at accurate level. In gig economy are employed for the purpose of performing specific task and increasing the workforce for temporary time period. Therefore, increasing technology development has the potential to change the nature of the employment relationship.

In recent years, there are number of gig economy platforms which are proliferated and it is considered as small source of employment as compared to other types of employment. There are large numbers of peoples who are getting the employment through platform websites are appointed as independent contractors. The occupation of independent contractors is constant for particular time period because data is outdated to track the progress in this field. According to Grattan Institute less than 0.5% of adult Australians that is almost 80,000 people are working on the platform website more than one time per month.

Therefore, it is difficult to count the exact increment in the number of peoples who are using these platform websites, especially at initial life because some independent contractors are using the platform websites as marketing tools for the purpose of promoting the business. However, these platforms also attract the new workers and they also help the workers to pick up a second job. And this data is not shown in the statistics because report only collect data related to primary employment.

Aspects of Websites

Aspects of websites such as marketing aspect and informational aspect are updated for the purpose of providing acceptable user experience to the mobile users, and in few years peoples are accessing the websites through their mobile phones instead of their desktops. There are number of organizations these websites offer new opportunities to the market in effective way, and they also personalized their targeted objectives. Usually, transactional part of the websites must be updated on regular basis such as parts that facilitates the users to open their account, registration for services, filing claim, and submission of request or order products from websites.

There are number of cases in which users need to file PDF form on printed paper and then mailed or faxed that form to the organization. This type of approach includes two problems that is cost is high and there is unacceptable user experience for the users of mobile and tablets.

Tablet or mobile users does not use pen to transact with any organization, and if any organization does not provide online services then they simply choose other organizations to work. Usually, tablets are replacing the process of paper based such as insurance underwriting, pharmaceutical sales, reviews related to construction site or any other place through data was collected by users, place orders, checking the inventory, get information in real-time or provided intelligence related to real-time. There is very simple way to collect the information which does not cost very much such as collection of information through laptop and mobile tablet helps in automate the selected process which ultimately reduce the cost of process and streamline it.

Conclusion:

At last we conclude that disruptive technology and digital disruption are two different things and people confused these terms. It is necessary that government take different steps to reduce the risk associated with digital disruption and it also take various steps to frame rules and regulations as per changing environment.

References

Vittez, O. The Effect of the Internet on Modern Businesses & Corporations, < https://smallbusiness.chron.com/effect-internet-modern-businesses-corporations-896.html>. Accessed on 21st march 2017.

Australian Government,’ Digital Disruption: What do governments need to do?’, < https://www.pc.gov.au/research/completed/digital-disruption/digital-disruption-research-paper.pdf>. Accessed on 21st March 2017.

Lepore, J. 2014, ‘The disruption machine’, The New Yorker, 23 June, https://www.newyorker.com/magazine/2014/06/23/the-disruption-machine. Accessed on 21st March 2017.

Search Cio, digital disruption’, < https://searchcio.techtarget.com/definition/digital-disruption>. Accessed on 21st March 2017.

Giles, M. (2016). Embracing Digital Disruption, < https://anziif.com/members-centre/the-journal-articles/volume-39/issue-1/embracing-digital-disruption>. Accessed on 21st March 2017.

Foreign Affairs (2010), ‘the digital disruption’, < https://cddrl.fsi.stanford.edu/sites/default/files/schmidt_the_digital_disruption.pdf>. Accessed on 21st March 2017.

Girn, S. (2014). Digital Disruption – Opportunities for Innovation and Growth< https://www.rba.gov.au/speeches/2014/sp-so-110614.html>. Accessed on 21st March 2017.

Hodgman, B. (2011). The Mobile Internet and the Impact on the Enterprise, < https://www.avoka.com/blog/the-mobile-internet-and-the-impact-on-the-enterprise/>. Accessed on 21st March 2017.

Global, M. (2012). Internet matters: Essays in digital transformation, < https://www.mckinsey.com/business-functions/digital-mckinsey/our-insights/essays-in-digital-transformation>. Accessed on 21st March 2017.

Millingan, V. (2017), The Disruptive Force of Disruption’, https://blogs.forrester.com/category/digital_disruption>. Accessed on 21st March 2017.

Christensen, C.M. 1997, The Innovator’s Dilemma, Harvard Business School Press, Cambridge, MA.

Kelly, J. and Donegan, P. 2015, City Limits: Why Australia’s cities are broken and how we can fix them, Melbourne University Publishing.

Minifie, J. 2016, Peer-to-Peer Pressure - Policy for the Sharing Economy, April, Grattan Institute.

JPMorgan 2016, Paychecks, Paydays, and the Online Platform Economy: Big Data on Income Volatility, February, JPMorgan Chase Institute.

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