Understanding the new digital economy Essay Example | Topics and Well Written Essays - 4500 words

Understanding the new digital economy - Essay Example One of the biggest influences of the modifying terrain of transacting business is the social media which provides an unconscious system and medium through which many people converge, interact and exchange information (Ghosh, 2012). The hypothesis put forward for this paper is that: the social media has had a major impact on users and this has transformed the cultural and economic practices and impacted on the fashion industry with an emphasis on blogging and social media marketing. The aim of this paper is to identify the political economic perspectives in today’s world and the impact of the social media on users as well as cultural and economic practices in the world. The following pointers will form the core highlights of the study: This paper fundamentally aims at identifying the main influence and impact of the social media on the way in which individuals and groups of people perceive cultural and social matters and systems. To this end, the paper will critique various secondary sources in order to draw conclusions and inferences on the impact of social media on current trends and processes. This section will involve a critical review of secondary sources and other documents to lay the theoretical and definitive framework. To this end, the literature review will evaluate fundamental definitions and ideas that form the basic framework and discussions in this topic. Also, the literature review will integrate important elements and aspects of theories and concepts that are important in providing the parameters within which discussions and analysis can be done. The new digital economy is an economy based on digital technologies (Tapscott, 2012). This implies that the new digital economy is steeped in the fact that it is a system that enables people to transact various forms of business activities over digital systems and processes. â€Å"The world economy is now characterised by sluggish growth in

Social Media Application Program Interfaces Assignment

Social Media Application Program Interfaces - Assignment Example The emergence of the World Wide Web has made it possible to reach a large number of people from all over the globe with the simple touch of a button. As a result the social media came into existence which can be described as a virtual platform where individuals can interact with one another as well as seek or give information on various subject matters (Jacobson, Woods & Brail, 2011). The social media application interfaces were created in order to exploit this market segment. An API (Application Program Interface) can be described as a technological platform that allows different software components/programs to run in harmony with one another allowing for a type of connection to be made between them that allows for the sharing of information (Benslimane, Schahram & Amit, 2008). The social media application programs that have been developed have been designed in order to allow the different major social networking sites to run in harmony with one another. The development of these pro grams have allowed for the provision of a number of API services that are available to marketers who are interested in using the social media as a platform for the promotion of their products (Evans & Mckee, 2010). ...and some of more preferential ones that can be used for marketing purposes include: Sharing Features Photographs from one site can be shared onto another site by an individual and this can be said to be one of the most popular features of social media application program interfaces (Evans & Mckee, 2010). For example, a marketer is able to post a picture on their website and provide an option that allows for an individual to share the same photo onto their Facebook page. Information such as news items can also be shared in a similar manner where instead of a photo being reposted, an individual is able to post the link to whatever particular story he wants to share with others (Jacobson, Woods & Brail, 2011). The main reason for using this service would be to reduce the amount of work that a marketer has to do through the creation of such shortcuts where they are not only able to share things on other social networks faster and more easily (Benslimane, Schahram & Amit, 2008). The feature also encourages individuals to help with the marketing through providing them with the share option. Embedding This is a process that has similarities to that of the share feature and can be said to be slowly fading from the scene (Evans & Mckee, 2010). It still has its advantages however as one is able to embed any content they desire to share to the profile of a social media site making it accessible to everyone.