01 Flashcards
(10 cards)
What is Digital Transformation?
Digital transformation can refer to IT modernization, digital optimization, or new digital business models. It is often equated with digitization, especially in public-sector organizations.
What is Digitalization?
Digitalization is the use of digital technologies to change a business model, providing new revenue and value-producing opportunities.
Why is Digital Transformation hard?
Less than 30% of transformations succeed, with digital ones being harder. Only 16% of organizations improve performance and sustain changes, and 7% improve without sustaining.
How do industries perform in digital transformation?
Even digitally savvy industries like high-tech and telecom have a success rate below 26%, and traditional industries, such as oil and gas, have success rates between 4-11%.
What is the role of company size in transformation success?
Smaller organizations (less than 100 employees) are 2.7 times more likely to report success compared to larger organizations (more than 50,000 employees).
What are the three levels to approach Digital Transformation?
Strategy, Organization, Technology – strategy defines the playing field, organization aligns resources, and technology enables transformation.
What is a strategy in Digital Transformation?
A strategy is an integrated set of choices that positions a company in a way that it can win on its playing field. It must be coherent, doable, and actionable.
What are KPIs for measuring digital transformation?
KPIs can include customer engagement, operational efficiency, digital revenue share, innovation metrics, and cybersecurity posture.
What are key goals of the semester project?
Analyse how digitalisation changes a company’s competitive landscape, understand digital transformation’s depth, and help peers enhance their knowledge.
What are the parts of the semester project video?
Part 1: Impact of digitalization on the competitive environment. Part 2: Countermeasures and KPIs. Part 3: Evaluate transformation pros and cons.
