ISOM - Old Economy Digital Economy

The widespread applications of ICT by firms and their employees across many sectors of the economy, creating new ways of working and of shopping, will speed up transactions of all kinds and eliminate pockets of inefficiency throughout the economic system is the advantage of the digital economy. While the old economy requires the handling of cash physically which might cause mistakes paying or giving the change back to the buyer which causes lost to the company.

http://www.businesstoday.com.mt/2001/0131/focus.html

One of the benefits of the digital economy is that consumers are often able to obtain products at lower prices than their hard copy counterparts. For example, an electronic version of a new novel may be 25-50% less expensive than purchasing a hard copy version. In like manner, music lovers may purchase the latest releases from their favorite artists for less than the cost of purchasing a CD in a local physical music store, or even buying the hard copy CD online and having it delivered by post. Some sites participating in this digital economy setting even allow consumers to purchase individual tracks by their favorite artists. While the old economy requires the buyer to present himself infront of the store in order to purchase the product needed, which is causing trouble for people who has a tight schedule limiting them to go shopping. It also requires the buyer to pay more due to the amount of parties the product has went through.

http://www.wisegeek.com/what-is-a-digital-economy.htm

The organization I would like to discuss on will be Apple Store. The organization is using the internet to conduct virtual business with netizens while having a physical store for customers that would like to view the product on hand. Through apple store, buying of products and getting support from the staff is available such as services to Apple products. Thus giving business opportunities back to Apple itself without leaking their business to other hands, increasing sales and hasten business process and getting the deal done quickly. The challenge for digital economy is securing the transactions being made. This arise due to the skills of hackers that can easily get account information and exploit them. Some people worries that this will harm their security and will result in lost if something bad happens.

http://store.apple.com/us