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Infrastructure Stratergy > Lecture Five - Digitalization > Flashcards

Lecture Five - Digitalization Flashcards

1
Q

Business Competitive Advantage - Definition

A

The ability of a company to offer goods or services at a better quality or lower cost than competitors.

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2
Q

Business Competitive Advantage - Components

A

Company’s resources
Structure
Supply chain network

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3
Q

Business Competitive Advantage - Strategic Agility

A

Ability to adapt to market changes and maintain competitiveness.

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4
Q

Business Competitive Advantage - Strategic Agility Taxonomy

A

Strategic Sensitivity: Ability to understand the environment tactically.
Strategic Response: Ability to react or proactively adapt to environmental changes.
Collective Capabilities: Skills and resources that enhance strategic agility, derived from human infrastructure and information resources.

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5
Q

Strategic Agility - Concept

A

Concept: The capacity of an organization to remain flexible and responsive to changing business environments.

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6
Q

Strategic Agility - Components

A

Strategic Sensitivity: Tactical awareness of market dynamics.
Strategic Response: Proactive and reactive strategies to leverage changes.
Collective Capabilities: Leveraging organizational human capital and information resources for strategic agility.

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7
Q

Strategic Agility - Importance

A

Enables organizations to survive and thrive amidst dynamic market conditions.

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8
Q

Types of Business Models

A

Freemium: Offers basic services for free while charging for premium features (e.g., LinkedIn).
Service Sales: Direct sale of services to customers (e.g., Microsoft Teams).
Subscriptions: Recurring revenue from ongoing service access (e.g., Spotify).
Retail: Selling goods to consumers online or in physical stores (e.g., Amazon).
Commissions: Revenue from facilitating transactions (e.g., eBay).
Advertising: Generating income through ad placements (e.g., Google).
Licensing: Selling rights to use proprietary content (e.g., Apple).

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9
Q

Freemium Model - Definition

A

Combines free and premium services, monetizing a small percentage of users who pay for enhanced features.
Term coined by entrepreneur Jarid Lukin.

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10
Q

Freemium Model - Strategy

A

Offer a basic service for free to attract users.
Convert a percentage to paying customers for additional features or content.

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11
Q

Freemium Model - Anderson’s 5%/95% Rule

A

Companies give away 95% of products/services for free, profiting from the 5% that pay.

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12
Q

Freemium Model - Critical Decision

A

Determining what to offer for free and what to charge for is crucial to the model’s success.

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13
Q

Advertising Model - Concept

A

Revenue generation through selling ad space within apps or platforms.

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14
Q

Advertising Model - Example

A

Google: Earns revenue from search and display advertising.
Social Media Platforms: Twitter and Instagram monetize user engagement through targeted ads.

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15
Q

Advertising Model - Benefits

A

Strengthens mobile revenue streams.
Provides free access to users while monetizing through advertisers.

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16
Q

Commission Model - Definition

A

Generates revenue by taking a commission from transactions facilitated through the platform.

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17
Q

Commission Model - Examples

A

eBay: Charges fees for listing and selling items.
Real Estate Brokers: Earn commissions on property sales.

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18
Q

Commission Model - Advantages

A

Aligns business success with transaction volume.
Encourages a large user base to drive transactions.

19
Q

Fee-for-Service Model - Concept

A

Customers pay based on the amount of service or product usage.

20
Q

Fee-for-Service Model - Examples

A

Telecommunications: Pay-as-you-go phone services charge only for minutes used.
Consulting Services: Clients pay for the hours or services rendered.

21
Q

Fee-for-Service Model - Advantages

A

Flexible pricing aligned with customer needs.
Encourages efficient service use by customers.

22
Q

Licensing Model - Definition

A

Selling rights to use proprietary content or technology to third parties.

23
Q

Licensing Model - Common Use

A

Software Publishers: License software products to users or businesses.
Media Companies: License content for distribution or broadcast.

24
Q

Licensing Model - Example

A

Apple licenses its operating systems to device manufacturers.

25
Q

Licensing Model - Advantages

A

Provides a recurring revenue stream.
Expands market reach without direct sales efforts.

26
Q

Subscription Model - Definition

A

Recurring revenue model where customers pay a regular fee for continued access to products or services.

27
Q

Subscription Model - Example

A

Streaming Services: Spotify charges a monthly fee for ad-free music streaming.
Software as a Service (SaaS): Platforms like Adobe Creative Cloud offer subscription-based access to software.

28
Q

Subscription Model - Benefits

A

Predictable revenue stream.
Builds long-term customer relationships.
Encourages continuous product/service improvement.

29
Q

Retail Model - Definition

A

Selling goods directly to consumers through physical or online stores.

30
Q

Retail Model - Evolution

A

Shift towards e-tailing with digital payment and delivery methods.

31
Q

Retail Model - Example

A

Amazon dominates the e-commerce space with a vast product selection and efficient logistics.

32
Q

Retail Model - Advantages

A

Direct consumer interaction and feedback.
Flexibility in product offerings and pricing strategies.

33
Q

Business Environment Understand - Purpose

A

Staying informed and agile in a dynamic business landscape.

34
Q

Business Environment Understand - Methods

A

Why: To learn, seek employment, and stay informed.
What: Engaging with tech and business news to grasp current trends.
How: Regularly visiting informative websites and resources.

35
Q

Value of Technology in Business - Debate

A

Technology’s impact on business varies among researchers.

36
Q

Value of Technology in Business - Views

A

Direct Impact: Technology drives business improvements and efficiencies.
Indirect Impact: Supports strategic alignment and business processes (Mavengere, 2013).
Skeptical View: Nicholas Carr argues technology alone doesn’t provide competitive advantages.

37
Q

Value of Technology in Business - Nicholas Carr’s Thesis

A

ICT is an infrastructure available to all.
Advantage lies in aligning ICT with business strategies rather than in ICT itself.

38
Q

Learning Activity - Leavitt’s Model (1965)

A

Framework for assessing organizational change impacts.
Components: People, Technology, Structure, and Tasks.

39
Q

Digitalization and Business Strategy - Emerging Technologies

A

Blockchain & Smart Contracts: Enhancing transparency and efficiency in transactions.
Robotics & 3D Printing: Automating production and enabling customization.
Artificial Intelligence (AI): Driving data analytics and decision-making.
Cognitive & Quantum Computing: Solving complex problems beyond traditional computing capabilities.

40
Q

Digitalization and Business Strategy - Digitalization Impact

A

Changes in business operations, roles, and offerings.
Influence on processes, KPIs, leadership, and organizational structure (Parviainen et al.).

41
Q

Digitalization Wide and Deep Opportunities

A

Process Level: Streamlining workflows and reducing manual steps through digital tools.
Organization Level: Innovating services and eliminating outdated practices.
Business Domain Level: Shifting roles and value chains within ecosystems.
Society Level: Transforming societal structures and decision-making processes.

42
Q

Goals of Digitalization

A

Internal Efficiency: Optimizing internal processes via digital means.
External Opportunities: Capitalizing on new business prospects.
Disruptive Change: Altering traditional business roles and creating new paradigms.

43
Q

Industry Revolution and Future View - Industry 4.0 and Beyond

A

Permanent Adaptability: Businesses dynamically respond to market demands.
Personalized Offerings: Customizing products/services to meet individual client needs.
Efficient Post-Sales Service: Enhancing customer experience with timely support.
Rapid Development Cycles: Shortening time-to-market for products and services.
Data-Driven Insights: Leveraging analytics from diverse sources for real-time decision-making.

44
Q

Pre-Digitalization Challenges:

A

Data-Intensive Processes: Time-consuming and complex workflows.
Information Overload: Difficulty managing vast data pools.
Data Quality Issues: Ensuring accuracy and integrity.
Unmanageable Content: Difficulty organizing and retrieving documents.
Missed Insights: Overlooking relevant information and business opportunities.
Customer Perception: Influence on brand reputation and product perception.

Infrastructure Stratergy (9 decks)

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