Untitled Flashcards Set

Automation

The use of technology to perform tasks with minimal human intervention, reducing time and effort.

Connection

The ability to link people and resources, reducing distance and enabling remote work.

Information

The capacity to provide data and insights, reducing uncertainty through tools like business dashboards.

Generation

The process of creating new content or ideas, thereby reducing limitations for businesses.

Coordination

The organization of different activities and teams to reduce conflict and improve project management.

Simulation

The use of digital models to replicate real-world processes, reducing risk, especially in training scenarios.

Prediction

The ability to forecast future events and trends, reducing guesswork with tools like AI forecasting.

Digital Transformation - Changes in local scope

Using technology to improve specific tasks within a localized environment.

Digital Transformation - Enterprise-wide integration

Connecting all parts of an organization through technology to operate as one unit.

Digital Transformation - Reorganization of core processes

Completely redesigning how essential business activities are conducted using new technologies.

Digital Transformation - Change in division of labor and cooperation

Transforming collaborative efforts among people, teams, and organizations using digital platforms.

Digital Transformation - Redefinition of product and service range

Using technology to develop new products, services, or business models that were previously impossible.

Competitive Advantage through digitization - Expanding market reach

Using digital tools to access a larger customer base.

Competitive Advantage through digitization - Enhancing customer value

Improving the perceived benefits of a product or service to consumers.

Competitive Advantage through digitization - Increasing operational efficiency

Using technology to streamline operations and reduce costs.

Competitive Advantage through digitization - Leveraging data & analytics

Utilizing data to make informed business decisions and strategies.

B2B Network - E distributor

An online store operated by a single firm for the wholesale distribution of goods.

B2B Network - Exchange

An independent marketplace designed for the direct trading of goods.

B2B Network - E procurement

Online platforms that facilitate the acquisition of goods and services by businesses.