THE DIGITAL BUSINESS ON CAMPUS AS AN INITIAL MODEL FOR STUDENTS
Dilshod Ravshanovich Mamasoatov
PhD, Journalism and Mass Communications
University of Uzbekistan, Uzbekistan
Saidov Farrux Faxriddinovich
Tashkent University of Information Technologies
named after Muhammad al-Khwarizmi
Abstract This research paper describes a strategy for developing a digital business model, maximizing enterprise profits, accelerating the development of an organization, enterprise or manufacturer, and moving to new markets. The possibilities of attracting new customers and promoting a brand, starting a student business using digital business models, the level of usefulness of a simple business and a digital business model were analyzed. Successful digital business adoption is based on the right choice of model, that is, the business growth trajectory, geographic location and customer demand database. The scientific article should be one of the first attempts at bibliometric research in this area and, therefore, a guide for future research and practical results.
Keywords: Digital Business; Campus; Initial Model; Student; Apple’s Itunes; Development; Profit; Practical Result; Customer
Introduction
Digital business is somehow different from the traditional framework of brick–and–mortar entrepreneurship (Chesbrough, 2010). We aim for developing a concept that covers the necessary elements of such entrepreneurial efforts in the digital domain. The startup firm “Order Coffee” took part in the study. Location of interviewed firm is in the campus of Samarkand branch of Tashkent State University of Economics. The start–up explored here is in an embryonic stage, struggling to survive, there is not much to know about them more than the “story” told by the founder or key informant. This start–up firm operate only with part–time employees, all of them are founders and students of Samarkand Branch of Tashkent State University of Economics. University provides room for the start–up for free. The aim of this descriptive paper is to explore the components of digital business models for start–ups. Hence, an exploratory data collection method was used. Results and Discussions Digital business models (DBMs) and digital business model innovation (DBMI) are gradually gaining attention both business practice and in research. The amount of literature on the topic increasing, theoretical framework of DBMs and the DBMI concepts are developing. In general, a DBM describes digital business rational and imitates how a digital based enterprise creates, delivers, and captures value.
While a DBM is a presentation of the current business logic of an enterprise based on Internet, DBMI is defined as an activity or a process in which core elements of an enterprise and its business logic are purposely transformed to achieve operational and strategic advancements. According to Ematinger [1] DBMs have the potential to change markets and even entire industries. Therefore, companies who miss the digital trend are threatened to lose customers and in the long run even their survival. Airbnb, Apple’s iTunes or Uber are examples of disruptive digital business model (DBM) innovations for their respective industry. A quick look–up at the development of the market capitalization indicate that the top five companies nowadays have all a business model that is shaped by the digital context [2] [Table 1].
Table 1
December 31, 2010
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December 31, 2016
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December 31, 2020
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Exxon
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$406 billion
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Apple
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$582 billion
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Saudi Arabian Oil Company
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$1684 billion
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Apple
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$376 billion
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Alphabet
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$556 billion
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Microsoft
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$1359 billion
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Petrochina
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$277 billion
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Microsoft
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$452 billion
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Apple
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$1285 billion
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Shell
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$237 billion
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Amazon
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$364 billion
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Amazon
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$1233 billion
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ICBC
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$228 billion
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Facebook
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$359 billion
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Alphabet
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$919 billion
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Being competitive in market conditions and protecting against new employers is largely based on the company’s digital business model. In that case, the economist Weitzman [3] state that “the long–term growth of an advanced economy is dominated by the behavior of technological progress”. This does not only apply for economics but certainly also for individual business as well. Today, countless innovative business models are emerging. Entirely new industries are forming, as old ones crumble. Upstarts are challenging the old guard, some of whom are struggling feverishly to reinvent themselves [4]. That empirical research shows unequivocally that there is much more potential in an innovative business model success rather than in an innovative product or process [Figure 1]. A Boston Consulting Group study found that over a five–year period, those who use innovative business model receive 6% more profit than those who limited to product or process improvement. Likewise, 14 of the 25 most innovative companies in the world use innovative business models [5].
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