Digital Economy The Societys Informational Economy

Published Date: 02 Nov 2017

Broad use of information and communication technologies and the need to move to the Informational Society and to the society based on knowledge ensure economy growth under conditions of increased environmental protection, accelerating the reduction of physical consumption in favor of information and knowledge capitalization, moving the center of gravity of the investments in fixed assets, to investments in human capital. It goes without saying, so that the Information Society is integrating sustainable development object, based on social rights and equal opportunities, freedom, cultural diversity and innovative development, ecological protection, restructuring of industry and business.

Individual initiative, solidarity, cooperation and mutual trust in the workplace are key factors for success in the informational society. The digital economy is citizen oriented, so we face to a new orientation of the citizen who is subdued to the institutions, to that which has provided services, to that which is paying taxes to obtain facilities and to see how public money is spent. The Digital Economy has dynamic facts which correspond to structural updates and in information plan.

The new digital technologies allow access, storage and transmission of information increasingly easier and more accessible, so we deal with digital information that can be converted into new economic and social values, creating huge opportunities for developing new products and services. In these conditions we can say that the information is the key resource for the new type of economy, digital economy. The new economy is characterized by the increasing incorporation of knowledge in new products and services, growing the importance of learning and innovation, globalization and sustainable development.

In this paper I propose to address this new type of economy, highlighting specific features and main components. Because to the digital economy are characteristic a set of procedures that fundamentally change the relationship between business partners and contributors, introducing a consistent growing civic consciousness, I thought it to summarize. Because of the global character of this type of economy, we have presented some aspects of the digital economy in the European Union, considering that it could be a possible solution to the economic crisis, issue of new economy based on digital economy, being analyzed in its various aspects by many political factors and various institutions and international organizations.

To the digital economy are characteristic a series of procedures that fundamentally changes the relationship between business partners and contributors, introducing a coherent growing way of civic consciousness. These procedures create a new economic environment, produce changes to competitiveness and the economic miracles have already ground of the productivity and product quality, services processes.

On the European continent, the authorities intend to encourage, in a sustained manner in the coming years, the development of the digital economy in the belief that it will raise about 110 billion euros. To enhance the digital economy can act in different ways, the primary being the establishment of an economy of scale for service providers and liberalization of certain European citizens, which would be a true power train to achieve unique digital space, accessible from any European country.

The Internet has become a true multi-billion dollar industry being a vital infrastructure for the global economy. The Internet reshapes the way people live, bringing a greater variety of goods and digital services, lower prices, improved data collection, several channels and social networks. Regarding firms, transition to digital technologies forced them to rethink their business models and constantly adapt to survive in a global market.

The digital economy is regarded as the top of economy in general because of its economic effects that are the reduction of resource consumption, the increase of innovator and entrepreneurial spirit, increase of labor productivity, of speed production and the change of economic phenomena and processes, the increase of the added value, etc. In the new economy, a promoter of development is the digitization (using information technology to produce and distribute goods and services) and in particularly, the use of internet and other information technologies (smart cards, voice-based computing, wireless, databases, telecommunications and expert systems) in the service sector, that includes 80% of jobs.

The economic crisis and Europe's sustainable recovery can be achieved by using the potential of the digital economy, especially, that is continent which has a generation of young, good professionals in digital technologies, which is a powerful incentive to develop and market innovation. This "resource" is a powerful incentive to develop market towards development and innovation, because, since the start of work, influence and dominate the growing market.

I ended by presenting the most significant trends in the digital economy and a set of conclusions, in which is pointed the role and the importance of this new type of economy.

The digital economy, puts in first place the needs of consumers, the needs of consumers have an interactive character, participatory, realizing the interface between offer and demand on an area of volume and structure, in space and time more rigorously. The new economy is providing after the principle of "the more people involved, the bigger benefit for everyone involved". It is expected that by 2016, digital economy will double, increasing from 2300 billion in 2010, to 4200 billion dollars in 2016.

The main priorities which are outlined for the next period, 2013-2014, can be summarized as follows: creation of a new regulatory framework stable in broadband services, creating a digital infrastructure for public services, formation and launch of the "Great Coalition to promote competence", ensure cyber security at EU level, updating European copyright framework, stimulation system "cloud computing", launch of a new industrial strategy in the electronics industry.

Digital economy requires increased knowledge in new products and services, increasing the importance of learning and innovation, globalization and sustainable development. Enormous amount of information change the functioning of markets, making possible the restructuring of enterprises and the emergence of new opportunities for creating value from information available. The digital economy is a state of the economy, the information obtained in many ways is stored in databases and its complex use is made of the premises or placed in public positions and corresponding activities and transactions by individuals and organizations.

The digital economy raises new plan information, focusing on the transparency of processes and to substantiate decisions is economics rigor, the accuracy and completeness in terms of updating data. The digital economy is the increasing use of information technology (hardware, software, applications and telecommunications) in all aspects of the economy, including internal operations of organizations (business, government and non-profit), transactions between businesses and transactions between individuals, acting both as producers and consumers. IT enables the collection and processing large volumes of information, stimulate innovation, which gives organizations greater opportunity and incentive to increase quality and efficiency. In this way, we can say that this is the main driver of the global economy. Digital economy has produced enormous benefits, but the most important is that the developed countries and developing countries should ensure appropriate policies and programs to implement digital transformation. To be successful in today's economy, people need knowledge and understanding of computer and Web skills. IT has increased considerably the ability to develop new business models, products and services, processes and fundamental inventions.

Define clear procedures for verification of how the operators made additions to the database is essential to ensure all further processing. In the new economy we are witnessing important changes on the work, the focus will be increasingly more creative thinking and the products created are such intangible - information and knowledge.

The new laws, rules, standards and regulations developed - with the support and business opinion and civil society - have stimulated the development of some new information society services (commerce and electronic transactions, computerization of public services, citizen access and economic agents to public information etc.), and also ensures ethical rules to work and live in a new company (protection of privacy and personal data, confidential transactions, consumer protection etc.). In turn, the business community technologies must provide information and communications products and services of high technological level and also more affordable prices and rates. Also, ways must be found to form a new culture of competitiveness of undertakings in all sectors in the new economy, digital economy.