Untitled Flashcards Set

• 7 capabilities of technology

• Automation

  • Reduces Time

  • Self-checkout systems

• Connection

  • Reduces Distance

  • Remote work Platforms

• Information

  • Reduces Uncertainty

  • Business dashboards

• Generation

  • Reduces Limitations

  • Al content creation

• Coordination

  • Reduces Conflict

  • Project management apps

• Simulation

  • Reduces Risk

  • Virtual training

• Prediction

  • Reduces Guesswork

  • Al forecasting

• 5 stages of digital transformation

  1. Changes in local scope

     • Using technology to improve specific tasks

  2. Enterprise-wide integration

     • Connecting the whole organisation through technology to work as one

  3. Reorganization of core processes

     • Completely redesigning how key business activities are performed using new technologies.

  4. Change in division of labor and cooperation

     • Transforming how people, teams, and partner organizations work together through digital platforms.

  5. Redefinition of product and service range

     • Using technology to create entirely new products, services, or business models which weren't possible before

• Digital business models create competitive advantage through:

• Expanding market reach

• Enhancing customer value

• Increasing operational efficiency

• Leveraging data & analytics

• Paths to competitive advantage

• Product innovation

• Process transformation

• Changing competitive scope

• Creating new businesses

B2B networks

• E distributor

  •  single firm online store for wholesale goods

• Exchange

  • Independent market place for direct goods

• E procurement

  • online platforms for acquiring goods and services from other businesses (one place to buy) - one person