3. Elements of Business Models: Value II Flashcards
What is disruptive technology?
Technology that replaces existing tech and transforms how business are run
What are the 3 most recent big examples of disruptive technology?
- Cloud computing
- Mobile technology
- Blockchain
What is the critical issue for established businesses concerning disruptive technology?
Surviving
What are accenture’s ‘5 Tech Trends’ for companies to be aware of?
- Individualised customer experiences
- Outcome economy (selling results)
- Platform Revolution
- AI and Data Capture
- Machine workforce
What is the innovator’s dilemma?
Companies do not want to stop doing what made them successful, but do not want to be left behind
What are the World Economic Forum’s 3 recommendations to address the innovator’s dilemma?1
- Innovate at the edge
- Work covertly to transform the company
- Copy google
What are the 5 strategies to build disruptive business models?
- Build
- Buy
- Partner
- Invest
- Incubate/Accelerate
When should an organisation use the ‘build’ strategy to build a disruptive business model?
- If time allows
- Disruption is associated with the core business
- The company can hire the right people
When should an organisation use the ‘buy’ strategy to build a disruptive business model?
- Time is an issue
- Disruption is critical
- The core model would have to change substantially
When should an organisation use the ‘partner’ strategy to build a disruptive business model?
- The company wants flexibility and speed
- It is not strategically important to own
- There is opportunity to learn from the partner
What are the 5 digital operating models?
- Customer centric
- EXtra Frugal (less is more)
- Data powered
- Skynet (machines/automation)
- Open and Liquid (sharing/collaboration)
Why was the introduction of the CDO role short lived?
Digital leadership must be holistic to the organisation
