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QAB020X602S Business and Management Dissertation Research
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- Referencing Styles: Harvard
- Words: 5250
- Course Code: QAB020X602S
- Course Title: business and management dissertation
- University: University of Roehampton
- Country: GB
Theoretical Background and Research Focus
The study aims to understand the implications of digital businesses in Romania’s economy, where SMEs fairly dominate the economic market share. The relevant implication of digital business on the Romanian economy during the present scenario of the raging pandemic will also be discussed.
The research objectives are:
- To understand how various digital businesses in Romania have gained momentum on various platforms?
- To evaluate how various digital businesses have impacted the Romanian economy.
- To understand how digital businesses have carried on business in Romania during the pandemic.
Q1. How have various digital businesses gained momentum in Romania on various platforms?
Q2. How have various digital businesses impacted the Romanian economy?
Q3. How have digital businesses carried on business in Romania successfully during the pandemic?
Detailed research using secondary sources of data to analyse the scope, market and impact of digital business in Romania.
Impact of digital business on the Economic Growth of Romania. The Romanian culture has been very inclusive of new developments in the business sector. The country is blessed with one of the most dynamic digital markets in Europe. It comes under the umbrella of the top 5 big European markets where businesses want to capture the customer base. Romania has one of the most rapidly growing economic sectors because it employs a very tactical transformative force to capture the opportunities provided after globalisation.
The country’s fast-growing economy reflects highly of the socio-economic development that the society is making, the improving lifestyle and quality of life of the citizens, opportunities that the entrepreneurs are getting, and how cultural diversity is becoming inclusive and accepted in society. Such a dynamic business market offers opportunities to generate more income, attract and retain a highly trained and efficient workforce and supports export earnings (Hadad, 2017).
After the globalisation of the international markets, Romanian businesses have gained momentum and have expanded into many countries. Globalisation has helped the country improve its economy and socio-economic status and improved the scenario for the labour market. With the businesses going global, it has resulted in huge export earnings and has also strengthened Romania’s political relations with the countries with which the businesses are associated.
The Romanian businesses have gone global with the help of digitalisation and globalisation and have boosted their economy and created job opportunities in the countries where they have expanded their business (Toma et al., 2018). Romania is very active in the digital business sector. Hence, the country needs to have strict IT and E-Commerce laws to protect the customers and businesses’ interests, rights, and integrity. The country has a wide spectrum of such related laws, which makes it a haven for the business enterprises practicing digital business and equally for the customers (Ciobanu and Ghinăraru, 2016).
SME businesses dominate the economy of Romania. Thus, the labour market in the country is robust and allows migrant workers opportunities to work. After the boom in the digital business sector, many traditional businesses have shifted to digital platforms to attract a new customer base and retain the existing ones. But, with the increasing scope in the SME sector due to digitalisation, there has been no mention of its impact on the labour market. The status, significance, role, and condition of the local labourers and the migrant workers have not been much discussed.
The country has always been an attractive place for businesses because the country has a very welcoming and experimental customer base. Many businesses aimed to launch their digital platforms with such a dynamic and modern customer base, be it the local businesses or e-commerce giants. But COVID-19 spoiled most of the plans. The economy sure did take a hit due to the ongoing pandemic. Still, not much has been discussed regarding the status, business plan of such businesses whose plans had taken a back seat because of the pandemic and how much delay in capturing the market has affected the country’s economy.