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Digital Digitalization > Exam 1 > Flashcards

Exam 1 Flashcards

1
Q

What is digitalization

A

A technological development of different types of digital innovation

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2
Q

Name two main aspects of BD tech in regards to the relationship between business and inventors

A

Novel digital technologies - push models
Business requirement - pull models

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3
Q

Name 3 major areas of digital technologies

A

Software, hardware, networds

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4
Q

Name the SMAC technologies and what they do

A

Social media - outreach and customer interactment. Marketing platform and such

Mobile technologies - new ways to shop and work. Digital stores with the store being “mobile” online.

Analytics of data - big data. Understanding trends and draw conclusions from massive data banks.

Cloud computing - cloud service and sharing informations. Its not required to use cloud based information, services or “products”

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5
Q

What are the 3 processes of business value creation

A

Cost advantages
Revenue growth
Eco systems

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6
Q

Name the three essential digital innovation methods.

A

Product innovation - enhance already existing services or products.

Process innovation - The manufacturing process, chat bots, paperless contrats, 3D printing.

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7
Q

Explain:
Diffusion of digital innovation

A

Refers to the process in which an innovation is dopted by organizations, society and individual. How high the degree of digitzation the country has shows how well integrated it is in the digitized economy.

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8
Q

Diffusion of digital innovation theory
Roger adaptation of innovation

A

Innovators - tech guys innovating

Early adopters - the amateur tech guys

Early Majority - the major population is starting to adopt and need guidence

Late majority - Not interested in technology but do it out of neccecity

Laggards - Not at all interested in changes and have a negative attitude to technology

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9
Q

Drivers of digitalization

A

External pressures:
Shareholders and their profits
Customers need for convinience
Government and their pressure for innovation
Internal :
Employes wanting to be up to date
Management - want to manage more easily

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10
Q

Name some challenges in BD

A

Lack of sufficient budge
Complexity of its structure
Need to replace the legacy system
Lack of staff with correct skill set

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11
Q

Explain the Digital transformation process

A

Use of digitalization - implement the smac model and see what fits

Analyze disruptions - see what competitiors are currently up to

Strategic response - Building on the usage of digitalization you chose to implement. Improve and strategize

Changes in value creation - look for a need in structural, organizational or manufacturing changes

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12
Q

Name parts of the Digital tranformation strategy

A

Exploitative - follow the competition and follow their digitalization steps

Exploratory - be the inventor ahead of the competition

Ambidextrous - be both

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13
Q

Name 3 essential elements of digital transformation

A
  1. A digital strategy - definies smac inspired value adding innovations.
    Use customer engagement, see what the customer needs and answer their demands with SMAC.
    Digitize the solution *
    All this will create loyalty from the customer
  2. An operational backbone.
    Facilitate operational excellence
  3. Digital service platforms.
    Process that enables rapid innovation and responsiveness. Websites or platforms with interactive outlays that make it easy to gather information about customer needs.
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14
Q

Describe the push and pull method

A

A novel digital technology creates a push which gets pulled by business requirement add on new requirements leading to a new push

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15
Q

Name benefits of digital a digital service platforms

A

Facilitaties experimentations, rapid development , digital innovation booms

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16
Q

Name benefits of operational backbone

A

Ensure efficiency
Scalability
Reliability
Quality
Predictability

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17
Q

Whats a digital platform

A

Refers to many to many systems (M2M). A system that intermediate between participants helping them to connect and exchange somethign of value.

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18
Q

Name some digital platform concepts

A

Digital marketplace - booking.com. Connects consumer to hotels

Search platform - connecting people to specific informationthat they are looking for

Repository - a place where stored information can be accesses by consumer

Communication platforms - snapchat, facebook messenger

Payment platforms - Paypal or swish

19
Q

What is a digital ecosystem

A

A company can be a part of business ecosystem that crossea a variety of industries. Companies co-evolve capabilities around a new innovation. They work cooperatively and competitivly to support new products, satisfy customer needs. Basicly a collective push and pull method.

20
Q

Explain what Managing the evolution of a digital business platform.

A

Example would be facebook sharing huge scraps of data through its platsforms and its subsidiaries.

21
Q

Explain BDs platform Exploitation theory

A

Exploitative Refinement:
Refers to leveraging, the existing capabilities of the organzation and that includes, efficiency, production, implementation and execution.

22
Q

Explain BDs Exploratory theory

A

Exploratory Renewal:
Building new capabilities and including things caputred by experimentation play, flexibility, discovery and innovation

23
Q

Explain ambidexterity in an innovative standpoint between Exploratory, Explotative.

A

Its the combination of both ideas.
Take the copycat method from Exploitation and still remain explorative.

24
Q

Describe the digital business platform phases

A

Initiating phase -
Identifying the potential drawbacks and functions. Allocating resources and support.

Develop phase - Expanding the functionality and extended use and the usage of platform

Growing phase - Augmenting the platform and increasing stakeholder involvement. Embredding it to the firm making it a part of operations.

25
Q

Name the 5 THIICCCC Vs of big data

A

Volume - the sheer volume of data being created every second

Velocity - the speed the data is being shared through networks

Variety - Different forms of data and different usage of the data collected.

Value - Having access to the high value data.

Veracity - The uncertainty of the data collected. It may be very valuable or not

26
Q

Main areasE-commerce

A
  1. Data protection rules
  2. Intellectual property right rules
  3. Online commerce Rules
  4. Consumer right rules
27
Q

why do we use property law

A
  1. Protect innovations
  2. Visibility by being a unique brand
  3. Avoid risk of being copied
28
Q

Two Major Spheres of IP

A

Industrial property Copyright

29
Q

Copyrights include ?

A

Patents, trademarks, tradesecret, industrial design, geographical.

30
Q

Describe a patent

A

Its a territorial right. Requires a fresh take, something very innovative and is a technical solution to a problem. They last 20 years

31
Q

Describe copyrights

A

Protects a creator and their intellectual property. Written muscial, artistic and code. Lasts until death +70 years

32
Q

Name 5 exclusive rights for copyrights

A
  1. Distribution
  2. Reproduction
    3.Public performance
  3. Adaptation
33
Q

Describe a trademark

A

A symbol, mark, sound, slogan, name or digits.
10 year renewal terms

34
Q

Three major areas to consider when you run a business in the EU

A
  1. GDPR data protection
  2. Distance selling rules
  3. E-commerce directives DSA+DMA
35
Q

What does the E-commerce directive do

A

Provide legal confidence for business and consumers. Specifies rules for both parties and reliability for how to handle issues. creating confidence in the industry

36
Q

what is the purpose of e-commerce directive

A

Free movement of information, society and services between member states.

37
Q

Services covered by the directive

A

New services
Selling goods
Advertisement
Professional services
entertainment services
Basic intermediary service

38
Q

Name some regulation on the seller of product

A
  1. commercial communication shall be clear
  2. Promotional offers, discounts and gifts shall be identified as sych.
  3. Product info such as name, company, price, features, if he product need permissions of use and legal age of usage
39
Q

Main activity areas in the eu directive

A
  1. Establishment of service prodviders - Obligation of the provider to show info about itself. Related mostly to prices
40
Q

What is a geoblocker

A

Blocks customers from different regions

41
Q

What does social media marketing do

A

Trigger viral communications amongst consumers across online communities, brand and fan pages. Two way communication with consumer and company

42
Q

Inbound marketing

A

Strategic appriach to creating valuable content that aligns with the need of your target audience. Creates long term customer relations

Customer finds you instead of the other way around

43
Q

Define Unified theory of acceptance ( UTAUM)

A

Examines the acceptance of technology.
1. Performance expectancy - you expect the digital service to work
2. Effort expectancy - the effort needed to understand
3. Social influence - is it socially acceptable.
4. Facilitating conditions - what are the pushing factors for me to use this tech

44
Q

Name some transformation framework

A

Risk management
Enhanced customer experience

Digital Digitalization (1 decks)

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