Institute for Business in the Global Context

Where the World of Business Meets the World

Tag: tech companies

Student Research: How Tech Companies Handle Fallout of Digital Trust

by Venkat Prasath Perumal (MALD 2018)

The number of people using the internet around the world is increasing at a rapid pace. With that, there has been steep expansion in global e-commerce. According to Euromonitor, in the US (the world’s biggest consumer market by sales volume), e-commerce accounts for 10% of all retail sales. Further, Euromonitor predicts that share will increase to 16.6% in 2021. All this growth brings immense business opportunities for companies like Amazon and Alibaba. At the same time, the number of people using social platforms on the web is also on the rise. As of 2017, Facebook had 2 billion global monthly users, followed by YouTube’s 1.5 billion, WeChat’s 889 million, and Twitter’s 328 million. Many of these internet companies generate revenue using targeted, personalized ads.

Mark Patel, McKinsey Digital, San Francisco shared his insights on digital trust

The growth of any platform-based business depends fundamentally on digital trust — the trust that the platforms create between sellers and customers which leads customers to buy seller’s products and services. For example: if Amazon’s product listings — the goods sold directly by Amazon and its partner merchants — couldn’t be verified as authentic products, customers wouldn’t buy them and might switch to a competitor. Similarly, a fraudulent phishing attack using customer’s stolen credit card is common in platforms. When this happens, the seller would suffer because, in addition to loss of merchandise, he would have to bear the costs of preparing and shipping the merchandise.

Continue reading

Trust in digital technology will be the internet’s next frontier, for 2018 and beyond

After decades of unbridled enthusiasm – bordering on addiction – about all things digital, the public may be losing trust in technology. Online information isn’t reliable, whether it appears in the form of news, search results or user reviews. Social media, in particular, is vulnerable to manipulation by hackers or foreign powers. Personal data isn’t necessarily private. And people are increasingly worried about automation and artificial intelligence taking humans’ jobs.

Read the full op-ed from Dean Chakravorti in the San Francisco Chronicle

MIB Alumna Kelly Liu (F’16) Quoted in CNET

Another day, another MIB working at the intersection of business and world affairs! Kelly Liu, supply chain manager at Dell and a 2016 MIB grad, was quoted in CNET on the fight to stop child labor abuses in Congolese cobalt mines. Check out the story!

That sentiment was shared by Kelly Liu, a supply chain manager at Dell. She said her company has been working closely with Huayou Cobalt and conducted a survey with its suppliers and shared its template with other companies as well.

“We recognize this is a complex issue, and this is probably going to be marathon and not a sprint in order to create positive change,” she said.

Read the full article in CNET