Week 6 Digital Transformation

Question 1

Define Digital Transformation (2)

Answer 1

Integration of digital technologies into an organization’s operations
Fundamental change in how the organization operates and delivers value to customers

Question 2

4 purposes of digital transformation

Answer 2

expands market reach, generates new revenue streams, Reduced costs, enhances customer experience

Question 3

Send Owl, Pixie Faire, Vessi and Nike, shopify are examples of what aspect of digital transformation

Answer 3

expanding market reach

Question 4

How does digital transformation help small firms (2)

Answer 4

reach customers outside their geographic region
compete with larger firms as
every firm that has a web presence is reduced to the same size

Question 5

Expanding market reach through digital transformation can help all firms how? (1)

Answer 5

extends a firm’s operating hours to 24/7

Question 6

How does digital transformation generate new revenue streams (3)

Answer 6

facilitated exchanges between consumers and producers e.g., Uber and airBnB, Wattpad
social media marketing
direct download of digital products

Question 7

How does LOreal Skin Genius App

Answer 7

mobile application combines personalized assistance- with digital experience, leveraging an AI-powered assessment of the customer’s unique skin care needs using a selfie. It also prompts customers to reflect on and explore skin improvement goals).

Question 8

Example of digital transformation reducing costs via reduced travel and communication costs

Answer 8

(video conferencing)

Question 8

Example of digital transformation reducing costs via improved customer service

Answer 8

CRM software systems

Question 9

Example of digital transformation reducing costs via reduced printing and mailing costs

Answer 9

(email, digital printing and faxing)

Question 10

Example of digital transformation reducing costs via reduced advertising costs

Answer 10

(social media)

Question 11

Example of digital transformation reducing costs via automation

Answer 11

(automated processes)

Question 12

How did McDonalds self-Serve kiosk help the business (3)

Answer 12

People order more food
Guaranteed that customers see the upselling options
Staff is redistributed to the kitchen

Question 13

3 things leadership needs to demonstrate in digital transformation age

Answer 13

an openness to the possibilities (both positive and negative) that the new technologies can create for the organization
a willingness to engage with their employees in the search for innovative solutions
a commitment to data driven management practices

Question 14

the enduring principles of good leadership changed in the digital age

Answer 14

no

Question 15

2 things leadership needs to be successful in this digital age

Answer 15

a deep understanding of the needs of the customer throughout the organization
a flat, cross-functional organizational structure

Question 16

turbulent business environment: changing customer tastes and preferences

Answer 16

beyond ‘meat’ burger, zero-proof alcohol

Question 17

turbulent business environment: industry boundaries are blurring eg

Answer 17

, is Uber a transportation company or an IT company?

Question 18

turbulent business environment: continual disruption eg

Answer 18

trade tariffs between Canada and the United States while USMCA is still in force

Question 19

turbulent business environment: declining fortunes of major multinational corporations

Answer 19

earnings growth of major MNEs has been declining for some time

Question 20

what is THE PRODUCTIVITY PARADOX

Answer 20

productivity growth in advanced economies has been slowing for
some period of time in spite of the increasing diffusion of digital technologies

Question 21

What challenges does leadership have around distributed and flexible workplace

Answer 21

a blend of in-office, remote, and on-the-go workers and distributed around the world

Question 22

Are there concerns digitalization is widening or closing performance
and income gaps across firms and workers

Answer 22

widening

Question 23

command and control type hierarchical organizations being replaced
by organizations that are: (4)

Answer 23

customer-centric
innovative
data-driven when it comes to decision making
collaborative