Analytical Frameworks & Process Analysis

Question 1

What is KIT and what does it do?

Answer 1

knowledge, information, technology

improves organizational performance

Question 2

What is something that will cause a company to earn a lot of money and have a lot of growth?

Answer 2

Superior performance

Question 3

What makes a company able to survive long term?

Answer 3

its ability to survive
- competition against: existing competitors, DNF

Question 4

What are Porter’s Five Forces?

Answer 4

1. supplier power
2. buyer power
   3, competitive rivalry
3. threat of substitution
4. threat of new entry

Question 5

What is supplier power?

Answer 5

An assessment of how easy it is for suppliers to drive up prices. This is driven
by the: number of suppliers of each essential input; uniqueness of their product or service; relative
size and strength of the supplier; and cost of switching from one supplier to another.

Question 6

What is buyer power?

Answer 6

An assessment of how easy it is for buyers to drive prices down. This is driven by
the: number of buyers in the market; importance of each individual buyer to the organization; and
cost to the buyer of switching from one supplier to another. If a business has just a few powerful
buyers, they are often able to dictate terms.

Question 7

What is competitive rivalry?

Answer 7

The main driver is the number and capability of competitors in the market.
Many existing competitors, offering undifferentiated products and services, will reduce market
attractiveness.

Question 8

What is the threat of substitution?

Answer 8

Where close substitute products exist in a market, it increases the
likelihood of customers switching to alternatives in response to price increases. This reduces both
the power of suppliers and the attractiveness of the market.

Question 9

What is the threat of new entry?

Answer 9

Profitable markets attract new entrants, which erodes profitability. Unless
the industry (incumbents) has strong and durable barriers to entry, for example, patents,
economies of scale, capital requirements or government policies, then profitability will decline to a
competitive rate.

Question 10

What is proprietary/non-proprietary software/hardware?

Answer 10

proprietary: owned and licensed by a single firm

non-proprietary: not

(typically a patent is required for something to be proprietary)

Question 11

What does hardware compatibility mean?

Answer 11

when a software works well with a specific hardware

Question 12

What does MECE stand for?

Answer 12

mutually exclusive & collectively exhaustive

ME: information should be grouped into categories so that each category is separate and distinct without any overlap

CE: all categories taken together should deal with all possible options without leaving any gaps

Question 13

What is digital disruption?

Answer 13

the shift that occurs when the introduction of a new digital technology significantly undermines the Economic, Technological, Organizational, and/or Business logics in an industry

Question 14

What is the purpose of digital transformation?

Answer 14

to harness tech to change how an org competes in market & transform internal structures/capabilities it uses to compete

Question 15

What are the 3 degrees of digital change?

Answer 15

Digitization, Digitalization, Digital transformation

Question 16

What is digitization?

Answer 16

occurs when a business shifts from manual and paper-based ways of processing data
and information to computerized approaches. Businesses adapt digitization techniques to improve
how data can be used and processed. For instance, through digitization, businesses can transform
data and leverage it to enhance operations and revenues

Question 17

What is digitalization?

Answer 17

occurs when an organization shifts from isolated islands of digital technologies to
networked and integrated technology systems which improve process flows, analyses, accuracy,
operational and speed

Question 18

What is digital transformation?

Answer 18

occurs when an organization uses technology to critically change the way it
competes as well as its internal capabilities and internal digital assets. Digital transformation
leverages digital technology to radically improve, restructure, or entirely create new value to their
customers. For instance, Spotify has removed the need for physically collecting CDs to have a
music library. Now, with just a few clicks of a button, one can stream their favorite music anytime,
anywhere

Question 19

What is DARSIL?

Answer 19

a framework for understanding the past, present, and future.

D define: what problems caused initiation of digital transformation

A analyze: which processes/systems need to be changed

R review: which available digital technologies are potential solutions

S select: which technologies did the company deploy

I integrate: how were these techs integrated into business/customer processes?

L learn: where is the digital transformation journey complete/incomplete

Question 20

To find out: What is going on in an industry?

Answer 20

Use Porter’s 5 forces framework

Question 21

To find out: What are my options?

Answer 21

use MECE framework

Question 22

To find out: what is the best option?

Answer 22

use weighted matrix framework

Question 23

How to use the Weighted Matrix approach?

Answer 23

“AFTER using porter’s 5 forces to determine industry happenings and using MECE to determine the possible options:

1) decide how you’re going to make the decision. Criteria to use: feasibility, desirability, viability
2) determine criteria that will be used to quantify each category
3) gather data that will represent each decision-making category
4) use the weighted matrix approach to compare the options (table format)
- determine weights to use for each category and criterion
- determine the Likert scale to be used
- compare the criteria using the Likert scale
- derive the weighted sums”

Question 24

What does MECE stand for?

Answer 24

mutually exclusive & collectively exhausted. Categories must not overlap and all categories must be covered

Question 25

What is Business Process?

Answer 25

the sequential arrangement of activities to achieve a business goal

Question 26

Standard BP symbols:

Answer 26

> start/end: oval
decision: diamond
delay: rounded bottom rectangle
flow: arrow
activity: horizontal rectangle
storage by a computer: cylinder

Question 27

What are the 2 types of process flow charts?

Answer 27

”> simple process chart (one line across)
> process charts with swim lanes (multiple lines, more in depth)”