Wk2 - Int Business

What is digital disruption (in plain terms)?

New digital tech and business models radically change how an industry works, often knocking out established leaders and reshaping what customers expect

Why is digital disruption more than just "using new tools"?

It's about rethinking business processes, how value is created, and how customers are engaged - not just bolting on new software

How does digital disruption generally affect traditional industries?

Forces companies to rethink business models, shifts value from physical assets to digital platforms/data, and disrupts supply chains and customer relationships.

What are the main drivers behind digital disruption?

Emerging tech (AI, IoT, blockchain, cloud, robotics), changing consumer demand for convenience/personalization, platform-based competition, and data-driven decision-making

How did Uber and Lyft disrupt transportation?

They use digital platforms to connect drivers and passengers directly, offering a more flexible, customer-centric alternative to traditional taxis

How did Netflix and Spotify disrupt media and entertainment?

They shifted content from physical media to on-demand digital streaming, using data analytics to personalize recommendations and content

What is happening in manufacturing under Industry 4.0?

IoT, robotics, and AI are creating 'smart factories' - optimizing production, reducing waste, and enabling predictive maintenance (e.g. sensors flagging issues before breakdowns)

How has retail been disrupted?

Shift from brick-and-mortar to e-commerce; companies like Amazon and Alibaba use digital platforms for global reach and personalization, pushing traditional retailers toward omnichannel strategies

How has banking and finance been disrupted?

Online banking and fintech apps reduce reliance on physical branches; digital payments, mobile wallets, and blockchain are reshaping financial services

What are the main challenges traditional businesses face when adapting?

Legacy (outdated) systems, cultural resistance to change, a digital skills gap, increased cybersecurity risk, and regulatory uncertainty

What opportunities does digital disruption create for businesses?

Expanded global market reach, better operational efficiency, new business models (subscriptions/platforms), and enhanced customer experience

What's the overall takeaway about digital disruption?

It's reshaping every industry - companies that proactively embrace digital transformation are more likely to thrive, while those that don't risk losing relevance