4 Reasons to Study Digital Business
I will open an e-shop and start my own business that way; lots of people do it, everybody does it well, so I’m sure I will too. This is the thought that many people start their business journey in the boundless digital space and… quietly end it. Statistics show that 80-90% of those who start an e-business fail. To avoid becoming one of them, here are 4 reasons why you should study e-business if you want your online idea to succeed.
You will create an e-business with an understanding of business processes
Experienced entrepreneurs know that understanding business processes is one of the cornerstones of success, which is why the e-Business study programme focuses on it. “How business works and in what environment, how e-business differs from traditional business, what are the internal and external processes – students will learn about these things. There are a lot of hidden things in building a business in the online space that you won’t learn from a friend or websites. There are different technologies to learn about, but other things are equally important: what is a business and an entrepreneur, what skills do they need, what are the human resource management aspects. Finally, core subjects such as e-commerce, e-marketing, etc. are included, which provide a solid foundation,” said Liuda Maciukevičienė, the head of the working group that developed the e-Business study programme.
Experienced entrepreneurs know that understanding business processes is one of the cornerstones of success, which is why the e-Business study programme focuses on it. “How business works and in what environment, how e-business differs from traditional business, what are the internal and external processes – students will learn about these things. There are a lot of hidden things in building a business in the online space that you won’t learn from a friend or websites. There are different technologies to learn about, but other things are equally important: what is a business and an entrepreneur, what skills do they need, what are the human resource management aspects. Finally, core subjects such as e-commerce, e-marketing, etc. are included, which provide a solid foundation,” said Liuda Maciukevičienė, the head of the working group that developed the e-Business study programme.
A good understanding of business processes, which few new e-business start-ups can boast, will help to find solutions to challenges such as why only 2.86% of a visit to an e-shop is converted into a purchase (invespcro.com), or why the personalization of e-businesses is so important, as it is the reason why businesses will have lost as much as $756 billion in 2021 (optinmonster.com).
You will help digitalize traditional business
According to shopify.com, one of the most popular e-commerce platforms, retail revenue from physical stores is almost equal to online shopping. Obviously, with these statistics, it is very important to have an e-shop, but did you know that if a customer’s experience of shopping online via their mobile phone is negative, as many as 62% of them will never visit you again (google.com)? That 32% of shoppers have changed their minds about their purchases in a physical store after checking product information on the company’s website (invespcro.com)? We are not even talking about something as basic as website speed, where 32% of visitors leave a website immediately if it takes too long to load (google.com).
When starting to delve into web technologies, there are many nuances that entrepreneurs usually learn about by hiring experienced professionals (which is an additional cost), through a marathon of testing and error, or… never finding an answer. An e-business degree programme devotes enough time to technology literacy so that the professional can then build an e-business on their own by applying technology or help a traditional business to digitalize their business. “The need for such specialists is very relevant today,” said L. Maciukevičienė.
A promising and highly demanded profession
The first true consumers of the digital era, eager to work for themselves, extremely tech-savvy, visual lovers who care about the mark they leave on the world, and natural multitaskers – the characteristics of Generation Z really do apply to e-business itself.
“Our skills have moved online: we buy food, clothes and courses online. From abroad, too. Our needs, our wants, our behaviour is changing. The events of recent years have made it clear that if a business wants to survive, it has to be prepared. Young people, who are diving into cyberspace and spending a lot of time there, are accelerating these processes.
It is clear that if a business is not able to go online to some extent, it is doomed to fail,” says the head of the working group that developed the e-Business study programme.
This study programme gives you the opportunity to set up and run your own e-business or become a freelancer working anywhere in the world.
These insights are backed up by statistics. The convenience of being able to buy at any time of the day is the number one reason why people buy online. 58% of internet users buy something every week. By 2040, it is predicted that around 95% of all purchases will take place online. It is clear that the need for experienced, professional professionals in this field is growing at a tremendous rate, with demand outstripping supply.
During your studies, you will implement your e-business project
For many people, studying at university means learning the theory that they will have to put into practice when they graduate. As a practical-oriented higher education institution, Vilnius Business College gives its students the opportunity to start implementing their own project during their studies and to develop it consistently over the course of three academic years. An idea that you have in your head or that arises during your studies will become more and more concrete as you turn it into a learning tool.
“By implementing a continuous project, you will apply knowledge from many areas: project management, consumer experience research, consumer behaviour, communication, marketing research, sales, application of various programmes,” explained L. Maciukevičienė. You will always have the support of lecturers – experts in their field and experienced practitioners – by your side, so you will avoid time-consuming and financially costly mistakes in business, loss of motivation, and lack of the necessary contacts.
According to Liuda Maciukevičienė, “Our students will learn about ways to shorten the path from idea to realisation, and develop their creativity. They will use modern tools such as design and visual thinking”.
E-business is the newest study programme of Vilnius Business College, whose content and teachers have been highly appreciated by the accreditation commission. Study and make your dreams come true with the tools of the digital world!