Emerging Paradigms of Managing Digital Business: In Association with Factoring Incremental Risks
Vikas S. Shah
Wipro Technologies, Connected Enterprise Services, East Brunswick, NJ, USA
Abstract—Consumer sector preceded and turned primary driven force for businesses to innovate as well as imply digital technologies. Changes that are materialized to institute digital business produce significant impact in consumerization. Hence, in recent years, it became necessary for enterprises to periodically reevaluate and redefine paradigms as well as their precedence to manage digital business. It has to be iterative process due to volatile characteristics of the influence of digital evolution on businesses. Traditional risk assessment and management methodologies are doomed when operating advancements in digital technologies with business strategy. This paper examines the relationship between the risk factors and the emerging paradigms that are needed in order to provide an adequate foundation for managing digital business. We proposed imperative incremental risk (IR) modeling framework in consideration of multifaceted and unpredictable physiognomies of managing digital business. It empowers the imminent of digital technologies and enables businesses to focus less on vulnerability and more on competencies.
Index Terms—advancements in digital technologies, digital business operation (DBO), consumers, emerging paradigms, incremental risk (IR), modeling framework (MF)
Cite: Vikas S. Shah, "Emerging Paradigms of Managing Digital Business: In Association with Factoring Incremental Risks" Journal of Advanced Management Science, Vol. 5, No. 1, pp. 1-8, January 2017. doi: 10.18178/joams.5.1.1-8