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In today’s rapidly evolving landscape, businesses have become increasingly digital, playing a pivotal and expanding role in the global economy. The economics and strategy of digital businesses are quite different from those of traditional businesses that deal in physical goods and services. The once-unchallenged economic doctrines, such as concepts of scarcity and choice or the dictates of diminishing returns to scale are no longer sacrosanct. Digital goods often have zero marginal cost of production and distribution, increasing returns to scale, and exhibit network effects.
The webinar offers an exploration of the economic principles that underpin businesses involved in purely digital goods and the Internet of Things. The economic principles of digital businesses offer both vast opportunities and unique challenges. Understanding these fundamentals is crucial for businesses, policymakers, and educators preparing leaders of tomorrow.
Presenter
Vinod K. Jain, Ph.D., is an expert in global and digital strategy, former business school professor, Fulbright Scholar, and author of books on Global Strategy and Digital Strategy. He taught at the Rutgers Business School, Newark and New Brunswick, and the Robert H. Smith School of Business, University of Maryland, College Park. Prior to that, he worked with the foreign subsidiaries of British and American multinationals, including Macmillan Publishers (Vice President) and Coca-Cola (Marketing Research Executive). He is a member of the Forbes Business Council, the Academy of Management, and the Academy of International Business. Discover more about him at www.vinodjain.com.
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