Universitas Gadjah Mada
Faculty of Economics and Business

Digital business is a digital-based business wherein management is not limited to just one country, but can be managed globally as well. To further discuss the role of digitalization in changes in social life, Faculty of Economics and Business UGM raised the theme "Digital Strategy Transforming Everything" during one of the 7th International Week (IWEEK 2021) meetings held on July 27.

To discuss the role of digital strategy in transforming social life, the event invited Prof. Jay Rajasekera, Ph.D., Professor of Digital Business and Strategy at Tokyo International University, to share his knowledge regarding this matter, guided by Amanda Wijayanti, S.E., a lecturer at FEB UGM, as a facilitator.

Before exploring further, digital transformation is the use of digital systems in running an organization or business more efficiently.

Prof. Jay Rajasekera said that to understand the existing digital world system, we must understand the digital pillars as key concepts in building a digital world. There are five digital pillars: hardware, software, data, information, and knowledge. The data is used to operate the computer and is generated by the computer system itself. The data obtained is then processed into information so that it can be understood by the wider community and eventually becomes knowledge to make decisions from the information obtained.

The digital pillar constantly changes from time to time, thus creating a new digital business opportunity, commonly known as the digital influencer model, as stated by Prof. Jay Rajasekera in his presentation. This digital influencer model consists of a market in which there is competition, a workforce, and consumers. Then, the technology in it consists of innovations and business models. Furthermore, social rules consist of government, community, and security. These three things influence each other and create new digital business opportunities in society.

He also cites one publication and mentions that digital information is integrated with digital technology in all business areas, thereby changing the way of operation and value delivery processes to consumers. It is a cultural change that requires an organization to experiment further with the use of technology.

Reportage: Zahra Dian

Webinar video : https://youtu.be/hdsg-dEf86s