Societal aspects of digital business

Summary

In this video, Vinita Philip discusses the societal aspects of digital business, focusing on how digital technologies impact communities and society at large. She highlights the role of cloud technologies, digital governance, and the growing influence of online platforms in transforming businesses and social services. The video emphasizes four key ways businesses can contribute to society: corporate social responsibility, philanthropy, encouraging local growth, and fostering entrepreneurship. Ultimately, it encourages businesses to make a positive impact on their communities through sustainable and socially responsible practices.

Takeaways

• 😀 Digital business can have a significant social impact by enhancing communities through access to education, healthcare, and financial services.
• 😀 Cloud technologies enable businesses to be more agile, collaborative, and customer-focused, contributing to societal improvement.
• 😀 Digital governance allows communities to achieve their missions in smarter and more efficient ways while reducing environmental footprints.
• 😀 A connected India through digital business can help improve social and economic conditions by fostering non-agricultural economic activities.
• 😀 Digital transformation is crucial for businesses as it drives efficiency, business agility, and new value creation for employees, customers, and shareholders.
• 😀 Social impact of businesses includes their effects on individuals and society, and all businesses can positively influence society, no matter their size.
• 😀 Corporate Social Responsibility (CSR) includes actions like reducing carbon footprints, using renewable energy, and supporting charity events.
• 😀 Philanthropic activities, such as corporate donations to social causes, not only benefit communities but also enhance the business's visibility and reputation.
• 😀 Encouraging local growth through job creation and supporting local businesses strengthens the economy and builds trust with customers.
• 😀 Supporting entrepreneurship by fostering complementary businesses and offering hiring opportunities for local students helps stimulate local growth and community development.

Q & A

What is the primary focus of the tutorial?

The primary focus of the tutorial is to discuss the societal aspects of digital business and how it impacts communities through various digital initiatives.

How does digital business impact society?

Digital business impacts society by facilitating agile, customer-focused, and collaborative methods of conducting business, leading to societal improvements like better access to education, healthcare, and financial services.

What is the role of Cloud Technologies in digital business?

Cloud technologies provide the foundation for digital businesses by making them more agile, collaborative, and customer-focused, thus driving efficiency and enabling businesses to scale easily.

How can digital governance contribute to social impact?

Digital governance can contribute to social impact by helping organizations organize and achieve their missions in a smarter and more efficient way, while also reducing the environmental footprint.

What are some societal benefits of a digitally connected India?

A digitally connected India can help improve social and economic conditions by promoting non-agricultural economic activities and providing better access to education, health, and financial services.

How does digital technology help combat societal challenges like poverty and illiteracy?

Digital technology plays a key role in addressing challenges like extreme poverty, reducing infant mortality, promoting sustainable farming, and achieving universal literacy by improving access to resources and information.

What are the four ways a business can create a positive social impact?

The four ways are: 1) Fulfilling corporate social responsibility (CSR), 2) Engaging in philanthropic activities, 3) Encouraging local growth, and 4) Supporting entrepreneurship.

What does Corporate Social Responsibility (CSR) entail for businesses?

CSR entails actions that businesses can take to benefit society, such as reducing their carbon footprint, using renewable energy, promoting fair employment, and hosting charity events.

Why is philanthropy considered a strong way for businesses to create social impact?

Philanthropy helps businesses support social causes and develop a culture of giving back, which not only benefits the community but also boosts the company’s visibility and strengthens its relationship with local residents.

How can businesses encourage local growth and what benefits does it bring?

Businesses can encourage local growth by creating jobs, supporting other local businesses, and contributing to the economic development of their area. This helps build trust, attracts customers, and strengthens the community.