Britain’s Digital Advantage
No wonder then that there is much anxiety among Brexit-watchers about the UK making a clean break and rejecting the ‘four freedoms’ that EU members enjoy − free movement of people, goods, capital and services. I would argue that there is a fifth freedom that negotiators ought to keep in their sights, one that may hold the key to re-balancing the terms of Brexit. This freedom has to do with the free movement of data.
Data matters because it is the fuel − and exhaust − of a critical part of the overall economy: the digital economy.
When one considers the digital economies of the UK and that of the EU, the latter would be losing a genuine star if barriers to UK-EU data flows were to be erected.
Read the full piece from Dean Chakravorti on the Chatham House website
Growing the digital economy
The creation of the innovation hub will be a critical component in the drive to boost the Philippines’ ranking in the Digital Evolution Index (DEI), which ranks countries in terms of their readiness for the quickly expanding digital economy. The Philippines is one of the so-called “break-out” nations in the recent global DEI study conducted by the US-based Fletcher School at Tufts University, using data from 2008 to 2013. The country stands alongside China, Malaysia, Thailand, and Vietnam as one of the “rapidly advancing countries” in the global digital topography.
Read the full article in Speed Magazine
We are on our way to becoming a truly digital planet. But every country is at a different place in the journey of becoming a digital economy, progressing at a different pace.
So just where is the digital economy moving fastest? Join Dean Bhaskar Chakravorti for a live and interactive FREE webinar through the Harvard Business Review, tomorrow at 12PM EST, to examine this question and the Digital Evolution Index (DEI), assembled by the Planet eBiz team here in the Institute for Buiness in the Global Context at The Fletcher School.
March 9, 2016
Dean Chakravorti will share insights on where the digital economy is moving fastest, which countries are poised for rapid changes, and where the digital process is slow or stalled, all as part of this live webinar.
More on the DEI:
To better understand the status of 50 economically important countries in becoming a digital economy, the Fletcher School at Tufts University has created a Digital Evolution Index (DEI). This index shows how countries compare in readiness for becoming a digital economy.
In analyzing these 50 countries, they have been sorted into four trajectory zones:
- Stand Out – High levels of digital development and an upward trajectory.
- Stall Out – high levels of digital development but losing momentum.
- Break Out – low levels of digital development but with the potential to develop strong digital economies.
- Watch Out – countries with low level of digital development, and with significant opportunities and challenges. Some seem stuck while others may overcome challenges and break out.
Learn more and read the report
Before becoming consumers of digital marketplaces, the current three billion Internet users started with surfing and emailing. But the next billion will be different. They will start not as mere users, but rather as e-consumers – and this has profound implications for the future of global commerce and digital marketplaces. Who are the next billion e-consumers? So, who are the standouts of the future?
Which countries will race to the front, and which will be left behind? Hint: It’s not the usual suspects.
As part of our “10 Questions” Series, we delve into hard questions of international business not easily answered by a single book, class, discipline, or school of thought. They herald a future where the world and the world of business are ever more interconnected, where decisions can’t be made in a bubble, where real expertise demands deep ‘contextual intelligence.’ This series reflects that contextual intelligence we cultivate in our students in the MIB program.
Where is the digital economy moving fastest? And, when we know that, what it all mean for what the future holds?
These questions and the many more answered and posed by the pioneering research of our Planet eBiz initiative have captured the attention of thousands of Harvard Business Review readers (including Bill Gates). As the calendar flipped to 2016, HBR looked back on the year that was and found the February piece from Dean Bhaskar Chakravorti, Ravi Shankar Chaturvedi, and Rusty Tunnard among their Top 20 “Most Read Articles from 2015.”
The piece, “Where the Digital Economy is Moving Fastest,” examined 50 countries around the world over a five-year period and categorized their digital performance into four trajectories — Stand Out, Stall Out, Break Out, and Watch Out. The article even inspired a corresponding video from HBR based on the Digital Evolution Index.
Read the original piece for yourself!
In 2006, Ravi Shankar Chaturvedi was working for American Express, based in Bahrain, with portfolio oversight of countries spanning the African Maghreb, the Nile Valley, Levant, and the Persian Gulf. That summer, cross-border skirmishes between Israel and the Lebanon-based non-state group Hezbollah erupted into full-scale war.
Chaturvedi, who had earned an MBA in finance and strategy five years earlier, suddenly found himself in a team trying to “ring-fence” the portfolio, to estimate business losses that could result from the war, and to explore ways to mitigate the company’s exposure—all while ensuring continuity in service for customers living in areas impacted by the war.
Unexpectedly, as they discovered, customers were more—not less—diligent about their credit lines, paying back their loans more punctually than in times of relative peace.
“Ultimately, we rose to the occasion—as my business experiences and education had trained me to do,” says Chaturvedi. “But we were reactive. A Fletcher graduate in my position would have been proactive and prepared—anticipating the potential for imminent war and putting together a contingency strategy well ahead of the event.”
Research Fellow for Innovation and Change with our very own Planet eBiz, Ravi Shankar Chaturvedi (MIB ’12), joins Fletcher School Dean James Stavridis to discuss his experience as a co-author of the Digital Planet Report and associated Digital Evolution Index (DEI). This study, co-authored together with Senior Associate Dean of International Business and Finance Bhaskar Chakravorti and Professor of Practice of International Business Christopher Tunnard, takes a comprehensive look at digital growth around the world and ranks 50 countries in terms of their “readiness” for the digital economy.