Technology speeds up business

DIGITAL ECONOMY

Dessicates = Digitalised Economic Structures Synchronising Institutions Capacity Advancing Top Earning Space.

Digitalisation

WELCOME readers, on board the ultra-supersonic flight of the electronic signal of the microwave.
After more than a month’s break we are now back to deliberate on the technology age we are in and specifically digital technology and its importance to the building of our economy.
This is a year-long discussion based on the above acronym (Dessicates).

Use of digital technology to make a product
Foremost to note is that capital, institutions, technology and new skills are needed to make new products to trade. In our determination to become economically better given our undeniable multitude of natural resources just talking and reading this article is a good start.
Living through it as its implementing empirical phase is the way forward for anyone bound within its perimeter.

The four areas above are intricately linked and as the subject of this paper let’s interconnect all with technology. At the world trade arena we have to have a space significant to our economy so the spin-offs from our trade interactions with the international trading community are positively impacted locally. It presupposes that our social indicators such as law and order, employment and or unemployment, gender-based violence, etc., all show positive signs of improvement.
Our potentials are intellect, time and agriculture most conspicuously. Those three are our capacity because they are sustainable. The countless natural resource can be and are harvested to build the infrastructure as we are continuing to do because they have a life span.
The solid state electronics of transistor unveils the gigantic resourcefulness of this nation to use to better herself in technology to make products or redesign products that can move from the periphery to the central location to bring money to PNG.

Changing business model using digital technology
As many as 25 business models known in business literature can be applied separately or in combination to suit our situation. Particularly distributer, retailer, franchise, ecommerce, online marketplace, network marketing, peer-to-peer catalyst/platform, data licencing or data selling are some models to use in the technology world.
When a product does not bring an increased revenue, the approach, design and the entire aggregation of the product have to be examined to improve it so it finds a place towards the centre of the product space at the world market to earn good money.
As such integrated circuits of technology made of the electronic logic gates and switches of a metal oxide semiconductor field-effect transistor will be the tool to use to better our products.

New revenue and value producing activities
With the use of technology we can see our revenue increasing because of added value to any economic activity the nation will engage in. The connectivity of technology speaks brings about increased revenue for PNG. It has to be understood that using any of the business models we have alluded to above, it is all about connecting to business partners.

It is of course very expensive to take a business trip to every country in the world for trade talks. For the countless many who cannot travel the world, technology is the answer. You are carrying the entire world in your pocket with a smart phone with the computing capabilities which you can use to do business.
People’s ideas and perceptions change as societies change and develop and therefore the people’s desire for goods and services also change. Studying this propensity, value-added products can be made and this will start to earn good incomes.

Moving to digital business
Digital business is the way forward for PNG.
Let’s pause and ask what business is. I would say when I look at this word business it is about deriving benefits from a product and particularly making money as the legal tender. Therefore it will involve a producer and a consumer or consumers for a business to complete.

This idea is translated to digital technology. Business is conducted using digital technology. So PNG has a product and is introduced to a customer though the electronic signal at a microwave magnitude band.
This signal travels at an exceedingly supersonic speed that one cannot imagine. At a multicasting mode millions of customers can be contacted in seconds, much quicker than you can in a two-days or a week’s trip to contact a few hundred customers.
The above spells out the immense potential that digital technology has to offer to the nation.

• Michael John Uglo is a Port Moresby-based lecturer in avionics, auto-piloting and aircraft engineering.