Vocabulary 2 Flashcards
Agile
Refers to the idea of iterative development, where requirements and solutions evolve through collaboration between self-organizing cross-functional teams
Artificial Intelligence
Use of machines to mimic human intelligence to perform tasks
Business Case (or use case)
A technique used to identify the requirements of a system (normally associated with software/process design) the data and users
Competitive Advantage
The attribute that allows an organization to outperform its competitors
Democratization of Technology
The process by which access to technology rapidly continues to become more accessible to more people
Diffusion
The movement of individuals or an organization from a current state or process to a new process
Early Adopter
An early customer/user of a given company, product, or technology
End User
A person who ultimately uses or is intended to ultimately use a product, service, software, device
Digital Framework/Strategy
The approach to remodeling the enterprise to incorporate digital technology to achieve greater efficiencies and collaboration to improving delivery speed and customer satisfaction
Ideation
The creative process of generating, developing, and communicating new ideas
Income Statement
(top and bottom line) - One of the primary financial statements and shows the company’s revenues / sales (top) and expenses (bottom) during a particular period
Strategic vs Operational
Corporate strategy involves answering a key question from a portfolio perspective: “What business should we be in?”. Operational strategy involves answering the question: “How shall we compete in this business?
