Lecture 1 Flashcards
what is often the reality of digital transformation compared to the expectation of radical disruption?
It usually means incremental steps to better deliver core value propositions.
What did Galeries Lafayette find about the relationship between physical and digital?
Physical helps build an emotional relationship with consumers while digital helps better understand customers’ needs.
What is the risk of acquiring start-ups and integrating them?
It risks killing the start-up’s culture and chasing away the talent acquired during its creation.
What should transformation not be solely focused on?
Technology but how it can better serve consumers, whether through mass customization or new offers.
What is smarter than overhauling legacy IT systems?
Finding a way to quickly develop front-end applications while slowly replacing their legacy systems in a modular, agile fashion.
What did some institutions focus on instead of changing legacy infrastructure?
Building application programming interfaces (APIs) that allow them to connect external providers.
what are the four domains of digital strategy?
1- External context
2 - External interface
3 - Digital organising and management
4 - digital operations
What does the domain external context mean?
The domain focuses on mainly technological and societal changes related to digitalization.
what are the four topics within the external context?
1 - properties of digital technologies (i.e. digitalisation, big data)
2- socio-technical context (how does it affect industry structures, competition and customer expectations)
3 - digital disruption (highlights how industries change due to innovation i.e. disruptive innovation)
4 - digital infrastructure and governance (ethics, cybersecurity and regulations)
What does the domain external interface mean?
This domain covers how businesses interact with customers and partners using data. It looks at how a company’s resources work with others to create value for customers.
What are the four topics within the external interface domain?
1- digital offerings (Companies use data from how people interact online to learn more about customers and improve relationships)
2 - digital value networks (company not entity but part of larger system connected through data and software connections)
3 - digital innovation (focus on how digital tools change how companies come up with new ideas and products)
What does the domain digital organising and management mean?
This domain is concerned with organisational-level themes related to work and organising in the digitalised business context.
Which topics are in the domain of digital organising and management?
1 - future work and management (Looks at how digital tools change the way companies function)
2 - organisational design (how companies work and apply concepts like rapid innovation cycles)
3 - strategy and leadership (Covers how digitalisation affects how companies make plans and lead, discussion skills needed for digital leadership)
4 - Change management (How do companies adapt during digital transformations i.e., balancing old sales methods with new digital approaches and how leaders communicate for digital operations)
What does the domain digital operations mean?
This domain is mainly concerned with the capabilities and processes companies need to adopt and implement digital operating models. The level of analysis is on organisational capabilities and processes.
What are the topics within the domain digital operations?
1 - digital capabilities (What skills and tools do companies need to make changes based on what they learn from the earlier domains)
2 - digital operating model (How do companies organise themselves to work in the digital landscape/how do they focus on customers, improve their operational systems like production and marketing, and integrate these systems with their overall IT infrastructure)
