Digital Intro (Week 1)

Question 1

What are the characteristics of digital

Answer 1

• Rapid duplication and distribution
• Storage flexibility
• Remote access
• Permanence and retrievability

Question 2

What is the definition of Digital

Answer 2

• Refers to information that is represented in binary (0s and 1s) processed by computers.
• generally used to define all technology that captures, stores, analyses and uses data

Question 3

What is proprietary tech

Answer 3

Tech that is owned by one company, e.g., pharma, patent on a compound

Question 4

Define infrastructural tech

Answer 4

Tech that can not be protected unlike proprietary, is generally worth more to the economy as a whole when shared. E.g., railroad, electricity

Question 5

Why does IT class as an infrastructural technology

Answer 5

It is a transport mechanism, it carries digital information

It also has more value when shared than when used in isolation.

Question 6

What are some characteristics of IT

Answer 6

1. Subject to rapid price deflation (Moore’s law)
2. Highly replicable
3. Value of IT increases as the number of users grow (Metcalfe’s law)

Question 7

One theory that speaks to the importance of IT

Answer 7

Digital Darwinism is the application of Darwin’s theory of evolution to the digital economy, where an organisations success/ failure to adapt to technology directly affects its survival as a business

Question 8

What is digital transformation

Answer 8

The process of developing organisational and tech based capabilities that allow a company to continuously improve its customer experience, lower its unit costs and over time sustain competitive advantage.

Question 9

Explain digital transformation from an internal perspective

Answer 9

Digital can be used to transform the way that an organisation operates

Question 10

Explain digital transformation from an external perspective

Answer 10

Digital can be used to transform the value that an organisation is offering to the market and how this value is delivered