Dr. Fiona Sussan Keynoted "Digital Economy and the New Way to do Business" at National Economists Club (Washington DC)

Dr. Fiona Sussan Keynoted "Digital Economy and the New Way to do Business" at National Economists Club (Washington DC)

Center Chair Dr. Fiona Sussan recently delivered a keynote on "The Digital Economy and the New Way to do Business" at National Economists Club. Dr. Sussan argued that the digital economy has empowered consumers through 1) from information scarcity to information abundance resulting in 'the reversal of asymmetry of information" , and 2) from two-step flow hierarchical communications to horizontal many-to-many consumer-to-consumer communications resulting in the voices of the consumers being louder than that of the firms. Because of the empowerment of consumers coupled with the fundamental philosophical change exhibited in sharing economy, businesses need to re-think about how to craft their value propositions to customers/users. Her speech concluded with the urgent need to co-create with customers. Policy discussion continued with audience about the future of higher education in the digital economy- - specifically about what value to deliver to learners in the digital economy.