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Digital Business Models > Weeks 1-4 Content > Flashcards

Weeks 1-4 Content Flashcards

1
Q

what is the module structured around?

A

the big picture, the organisation and the individual

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2
Q

What is the big picture?

A

reflecting upon the role of the evolving digital economy in the sustainability of society as a whole

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3
Q

what are the organisations we will be discussing?

A

new and established business models

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4
Q

what are the waves of disruption?

A

the digital front end, digital transformation and the third wave

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5
Q

what is the digital front end?

A

adding a new layer to existing systems to engage with customers

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6
Q

what is the digital transformation?

A

changing the whole business in response to new competitive pressures

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7
Q

what is the third wave?

A

still at a very early stage, think AI, 5G, Big Data

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8
Q

what is a business model?

A

this is how an organisation creates, delivers and captures value

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9
Q

what are we currently living through?

A

we’re living through a digital revolution

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10
Q

where is digital transformation occurring?

A

within society and within organisations

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11
Q

what are the two types of risk?

A

operational risk and delivery risk

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12
Q

what is delivery risk?

A

quicker is better, the quicker you delivery a product/service the more efficient/successful an organisation can be

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13
Q

what is operational risk?

A

risk of losses caused by flawed/failed processes, policies, systems or events that disrupt business operations

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14
Q

what are the main issues currently facing humankind?

A

climate change and digital economy

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15
Q

what drives an industrial revolution?

A

the link between the needs of society and level of technology available ultimately drives each revolution

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16
Q

what are the four industrial revolutions?

A

first industrial revolution (1750-1840)

second industrial revolution (1870-1914) electricity powered mass production

third industrial revolution (began in 1960s) mainframe computing emerged and quickly developed into personal computing and World Wide Web

fourth industrial revolution takes the digital world to a new level as the mobile web evolves via AI and machine learning in twenty first century

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17
Q

what is AI?

A

“the theory and development of computer systems able to perform tasks normally requiring human intelligence, such as visual perception, speech recognition, decision making and translation between languages”

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18
Q

what is 3D printing?

A

the action or process of making a physical object from a three dimensional digital model, typically by laying down many thin layers of a material in succession

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19
Q

what is additive manufacturing?

A

this is when a computer takes a digital model of the required object, slices it into very thin sections and instructs the printer to start at the bottom and build up the object layer by layer

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20
Q

what are the three key factors that affect the adoption of 3D printing on a large scale?

A
  • the materials used by the printer (businesses/individuals will need to buy the printable materials with appropriate properties)
  • digital model designs (rather than developing products businesses will need to develop digital models of products)
  • the skills required to make best use of a 3D printer and the opportunities they present (there is lack of such skills and knowledge in the workforce currently)
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21
Q

what is a social machine?

A

this is an environment comprising of humans and technology that interact and produce outputs which would not be available without each party

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22
Q

what is the purpose of social machines?

A

to enrich life by creating more intelligent connections between devices and people

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23
Q

what jobs are most prone to automation?

A

telemarketers, tax preparers, insurance appraisers, autodamage, umpires, legal secretaries, real estate brokers, couriers/messengers

24
Q

what jobs are least prone to automation?

A

mental health and substance abuse social workers, choregraphers, psychologists, human resource managers, computer system analysts, sales managers, marine engineers and naval architects

25
Q

what is hybrid working?

A

this is the combination of office based and home based working arrangements

26
Q

what is the statistics of hybrid working post pandemic?

A

9 out of 10 organisations will continue to work in some form of hybrid capacity beyond the pandemic

27
Q

what key skills will be required in the future world of work?

A

openness to life long learning

face to face and digital collaboration skills

work experience

willingness to try new ideas

28
Q

what will be the biggest impact from disruptive technologies?

A

the overall business insights to be gained from data analysis

how big data will enhance our understanding of how the world works

how the model of our working lives is changing as we live a lot longer and experience multiple career opportunities

29
Q

how progressive is change?

A

more gradual than we think

30
Q

what does the office for national statistics say about the UK life expectancy?

A

a child born today is likely to live to the age of 92 and be economically active well into their 80s

31
Q

what is the digital economy about?

A

the jobs in demand and the location of these jobs

32
Q

where has the majority of the demand for flexible workspaces come from?

A

it came from start up businesses due to cost advantages, growth in letting to larger organisations was also predicted as they learn from what has worked well during the pandemic as more innovative and flexible working cultures developed

33
Q

what percentage of the UK are employed on zero hour contracts?

A

6% (1.8 million people)

34
Q

what is employer branding?

A

by using social media to identify key talent and encourage conversation with selected individuals to build relationships with them, employers can promote their company as a great place to work which helps them to attract the best people

35
Q

what are the key iT proficiency skills?

A

effectively search for information and store the results.

evaluate the reliability of online information.
use editing, media-capture, communication and presentation tools.

collaborate and support others to participate effectively in online communities.

grow, manage and activate our networks effectively

present an appropriate online image and stay safe while doing so.

create and upload original material - such as by blogging or vlogging.

understand and respect the intellectual property rights of others

36
Q

what are the attributes of third space thinkers?

A

360 degree thinking (taking a holistic view)

Empathy (understanding, respect and tolerance)

Cultural competence (appreciating and respecting differences)

Adaptability (flexible and willing to change)

Intellectual curiosity (asking the “why?” questions)

37
Q

what is bloom’s taxonomy model?

A

Create, evaluate, analyse, apply, understand and remember

38
Q

what is the create aspect of the model?

A

combining parts to make a new whole

39
Q

what is the evaluate aspect of the model?

A

judging the value of information or ideas

40
Q

what is the analyse aspect of the model?

A

breaking down information into component parts

41
Q

what is the apply aspect of the model?

A

applying the facts, rules, concepts and ideas

42
Q

what is the understand aspect of the model?

A

understanding what the facts mean

43
Q

what is the remember aspect of the model?

A

recognising and recalling facts

44
Q

what does the term “smart city” refer to?

A

refers to the use of digital technologies to integrate the various elements of urban infrastructure and make it more efficient and environmentally sustainable

45
Q

what are the world’s top seven smart cities?

A

Singapore
Helsinki
Zurich
Oslo
Amsterdam
New York
Seoul

46
Q

according to the UN, what percentage of the world’s population was based in cities in 2018?

A

55%

47
Q

by 2050, how much of the world’s population is expected to live in cities?

A

68%

48
Q

where is the largest urban growth expected to take place?

A

India, China and Nigeria

49
Q

what are some smart cities around the world?

A

Estonia, Spain, China

50
Q

what is important in understanding smart cities?

A

acknowledging people over technology in these instances

51
Q

what percentage does the creative industries account for in UK jobs in 2021?

A

7%

52
Q

what is hello lamp post?

A

this is a playful, city wide system that lets you talk to street furniture, inviting people to strike up conversations with familiar street furniture using text messages/facebook messenger, bringing to light the hidden stories of their city

53
Q

what is shadowing?

A

shadowing gives memory to city lights, enabling them to record and play back the shadows of those who passed underneath

54
Q

what is every thing every time?

A

this takes information from our interactions within a city to tell a new story about its citizens and daily life, as people interact with the city, a poem is generated, made anonymous and resonated across several locations, from a garden centre to a public library

55
Q

what is pink enchantment?

A

interactive light installation that transforms bridges into stunning artwork, as visitors walk across the bridges, clouds of colours will appear creating an electric, vibrant atmosphere

Digital Business Models (2 decks)

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