Brainscape's Knowledge GenomeTM

Browse over 1 million classes created by top students, professors, publishers, and experts.


See full index

DBTT > Challenges in Digital Transformation > Flashcards

Challenges in Digital Transformation Flashcards

1
Q

Why do we need to prioritize digital transformation - even in a downturn

A
  • Companies across industries are speeding up their adoption of digital solns
  • Digital transformation is central to creating resilient economies
  • Digital transformation is an impt enabler for sustainabaility & innovation:
    -> allows for creation of new biz models
    -> encourages op excellence
    -> streamlines & automate processes
    -> improves customer exp.
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

Name the challenges to digital transformation (brief - 6)

A
  • Technology (Cyber security, data privacy, tech glitch)
  • Org & govt
  • Env
  • Sustainability
  • Scalability
  • Social (inclusivity)
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

How is cyber security (tech) a challenge to digital transformation? & aim to overcome?

A
  • Cyber breaches -> loss of trust thruout all sectors of society
  • Aim: Cyber resilience - take measures to prevent & protect against the criminal / unauthorized use of electronic data
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

Desc data privacy

A
  • It rests on a definition called Personally Identifiable Information (PII) - NRIC, credit card etc
  • Special categories - generic code, biometric data etc
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
5
Q

State the EU framework GDPR (Global Data Protection Regulations) as part of data privacy (3)

A
  1. Privacy as a human right
  2. Citizens’ data rights - access, rectification, erasure, restriction, portability, objection, notification & automated decision-making
  3. Fines of up to 2% of global sales -> accountability & up to 4% -> fail in citizens’ data rights
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
6
Q

State the PDPA in SG

A
  • Unless required by law, it is illegal for org to physically hold on to an indv’s NRIC & collect its full number
  • Applies to birth cert no., foreign identification no. & work permit no.
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
7
Q

Eg of Data Breach Incidents

A

Yahoo Data Breach (2013)
- Records affected: 3b
-Compromised: real names, email addm DOB, telephone no. & security qns
- Damage: $350m

First American Financial Corporation Data Breach (2019)
- Records affected: 885m
- Compromised: Bank acc no., bank statements, mortgage, tax records, ssn, wire transaction receipts, driver license images
- Damage: charges from NY State Department Financial Services (NYDFS)

SolarWinds Supply Chain Data Breach (2020)
- Compromised: > 18000 org & govt entities at risk; activated against ~50 org including US govt agencies

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
8
Q

Eg of how tech glitch affects biz continuity

A

AWS (2021)
- AWS second outage took out Twitch, DoorDash, Xbox Live, PSN, Ring, Disney+ & T-Mobile - cased by issues at Amazon’s Oregon & Northern California AWS facilities
- AWS third outage took out Fortnite, Hulu, Quora, Slack & Imgur - caused by a power outage at a AWS facility

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
9
Q

Will outage problem diminish or grow?

A
  • Cloud-dependent system is fragile
    -> conc on a few apps & services
    -> services by a few major cloud infrastructure providers
  • What needs to be done:
    -> Investment in cloud infrastrucutre - Data center -> backups to kick until problematic node is fixed
    -> Processes, governance of service providers (most outages in 2021 came from company errors)
    -> Biz continuity planning
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
10
Q

Why is cyber resilience impt to org?

A
  • Pri source of vulnerability - human error
    -> train employees on digital habits
    -> use internal data classification - secret, confidential, public etc to ↑ awareness
  • Central inventory of all networked devices & app to monitor devices
  • Incident response team & procedures
  • Third-party risk - vendors need min cybersecurity standards
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
11
Q

How are govt involved in cyber resilience?

A
  • Govt must develop national cybersecurity strat & transnationaal treaties
  • Ensure public databases & infrastrucure have necessary safeguards
  • Law enforcement needs to be standardizezd & deterrents to cybercrime shared b/w nations
  • Educational curriculum on best online prac & managing personal data
  • Indv can be more aggressive in reporting phishing attacks
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
12
Q

Role of data governance in org

A
  • Managing data as biz assets
  • Compliant w regulation; Establish procedures - regular audits
  • Maintain correct desc (metadata) of & permissions to data
  • Set clear procedures on how data can be used
  • Define owner of various data:
    -> Who is responsible for data accuracy?
    -> Who can access the data?
    -> Who maintain the access control?
    -> Who is responsible to update the data?
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
13
Q

Should org own data?

A
  • If the key biz process depends on some data, it is impt to own the data & NOT depend on third-party
  • Implication if third-party ↑ price -> serious distruption to biz
  • Data minimization as good prac:
    -> X keep every piece of data
    -> May cause legal trouble - recall GDPR “adequate, relevant & limited to min necessary for the purposes for which the data are processed”
    -> Walmart - only prev 4 weeks of data
    -> Storing data “jic” is dangerous, not a good prac
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
14
Q

Limitations of regulations

A
  • Inability of regulatory frameworks to cope w the rate of change
  • Risk of digital transformation -> digital fraud within banking institutions ; cyber terrorists that paralyze public institutions
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
15
Q

Describe how IoT can be a threat to org & govt

A
  • With ↑ connected device -> ↑ possible attack points
  • Leverage on network vulnerabilities to get to PCs / phones that hold sensitive & valuable info
  • Attacks can be prompts to download patches - malware to access other devices / ransomware - locking user out of the device unless a ransom is paid
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
16
Q

Digital tech vs Climate Change

A

AI
- Help make a wide range of industrial processes more energy efficient
- Training 1 algo system can use X5 emission produced by a car over its lifetime

Apps & search engines
- Eco-consious apps to help ↓ carbon footprints

Remote Work
- ↓ no. of commuters

Cloud Computing
- Consumes only ~ 1% of world’s electrivity
- E.g. Google makes use of AI to ↓ costs of cooling data centers by 40%

Smart Cities
- Cities account for 70% of greenhosue gas emissions
- Make use of tech to assist in decision-making & comms

17
Q

What are ways digital tech can aid in achieving their decarbonization goals?

A
  • Optimizing efficiency, ↓ energy & waste
  • Designing & optimizing low-carbon footprint energy systems
  • Designing & optimizing carbon sequestration tech
  • Making sustainability-related data accessible, verifiable & transparent
  • Enabling more effective monitoring of greenhouse gas sinks
18
Q

What is the sustainable supply chain about?

A
  • Design of environmentally sustainable pdts & packaging
  • Plan for sustainable outcome
    -> ↓ obsolete inventory
    -> ↓ carbon footprints w effective procurement, production & transportation plans
  • Min waste
  • Operate w equipment in an energy-efficient manner
  • Partners play a key role in sustainabilityu initiatives
19
Q

Why are digital platforms companies like Uber, AirBnB & Booking.com successful?

A

When innovating today, the challenge is not to be the ‘first to market’ but to be the ‘first to scale’.

  • they could offer scale -> +ve network effects
  • still need to know the basic principless of innovation mgmt
  • reflect on diff ways of organizing in the face of uncertainty
20
Q

How do you scale up as quickly as possible in the face of uncertainty?

A
  • Need partners (but not necessarily joint ventures / alliance partners)
  • Build loosely coupled networks that are akin tot natural ecosystems: a complex of a community of organisms & its env functioning as an ecological unit
21
Q

What are the components of a scalable biz model?

A
  1. Standardization
    • Standardized process -> enable efficiency & quality
    • Collab among partners & customers (in diff cities)
  2. Consistent mgmt
    • Pdt & biz op. are consistant (e.g. franchise biz models) -> easy to manage manpower & assets (e.g. Subway - move star employee to struggling location)
    • Expansion can be seamless w mgmt systems
  3. Use of existing assets
    • Leveraging existing assets (e.g. Airbnb - utilizes existing assets members provide)
22
Q

What does it mean to have biz continuity?

A
  • Biz needs to continue operating during unplanned events
  • Ability to maintain essential functions & min. disruptions to its customers
  • Aims to prevent interruptions to mission-critical services & re-establish & resume to full op. as quickly & smoothly as possible

E.g. backup electricity supply (esp hospital emergency setting), External / remote datat center, Site-failover WAN redundancy - connect to diff ISP, Enable remote working w data on cloud, Enable paper / dooc for biz-critical processes

23
Q

What is the biz continuity mgmt framework? (main pts - details in diagram)

A
  • Governance
  • Emergency Mgmt
  • Third Party Risk Mgmt
  • Business Continuity
  • Disaster Recovery
  • Crisis Mgmt
  • Pandemic Prepardness
  • Testing & auditing
  • Training & Awareness
24
Q

Governance (part of biz continuity mgmt framework)

A
  • Policies & procedures to be put in place
  • Protocols to kick in the backup plan
  • Monitoring the situation
  • Check on the effectiveness
25
Q

Emergency Mgmt (part of biz continuity mgmt framework)

A
  • Safety of staff & customers
  • Evaluating facilities
26
Q

Third party Risk Mgmt (part of biz continuity mgmt framework)

A
  • Dependency map to identify all parties involved
  • SLA to ensure third-party meets service recovery time objective
27
Q

Business Continuity (part of biz continuity mgmt framework)

A
  • Day-to-day op.
  • Biz processes within the org
28
Q

Disaster recovery (part of biz continuity mgmt framework)

A
  • Org’s infrastructure & tech
  • Prioritising critical biz functions
29
Q

Crisis Mgmt (part of biz continuity mgmt framework)

A

Managing & communicating during a disaster

30
Q

Pandemic Preparedness (part of biz continuity mgmt framework)

A
  • Strat to contain & prevent spread of infectious diseases
  • Remote work arrangement
31
Q

Training & auditing (part of biz continuity mgmt framework)

A

Annual crisis mgmt & communication exercise

32
Q

Training & awareness (part of biz continuity mgmt framework)

A

Training program to understand role of biz continuity

33
Q

Digital transformation as a sustainable growth engine

A
  • Use of tech -> help in building of org / nation that includes everyone, not segregating / eliminating them
  • Govt plays an impt role w holistic national strat to make connectivity & computing accessible to everyone
  • Vieiwed as investment towards the future designed to create opp & path to economic prosperity
  • Potential to ↓ greenhouse gas emission by 15% in 2030
  • Need to expand STEm education
  • Need to advance digital skillsets of employees

DBTT (10 decks)

Brainscape helps you reach your goals faster, through stronger study habits.
© 2024 Bold Learning Solutions. Terms and Conditions