3. Elements of Business Models: Value II Flashcards Preview

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Flashcards in 3. Elements of Business Models: Value II Deck (12)
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1
Q

What is disruptive technology?

A

Technology that replaces existing tech and transforms how business are run

2
Q

What are the 3 most recent big examples of disruptive technology?

A
  1. Cloud computing
  2. Mobile technology
  3. Blockchain
3
Q

What is the critical issue for established businesses concerning disruptive technology?

A

Surviving

4
Q

What are accenture’s ‘5 Tech Trends’ for companies to be aware of?

A
  1. Individualised customer experiences
  2. Outcome economy (selling results)
  3. Platform Revolution
  4. AI and Data Capture
  5. Machine workforce
5
Q

What is the innovator’s dilemma?

A

Companies do not want to stop doing what made them successful, but do not want to be left behind

6
Q

What are the World Economic Forum’s 3 recommendations to address the innovator’s dilemma?1

A
  1. Innovate at the edge
  2. Work covertly to transform the company
  3. Copy google
7
Q

What are the 5 strategies to build disruptive business models?

A
  1. Build
  2. Buy
  3. Partner
  4. Invest
  5. Incubate/Accelerate
8
Q

When should an organisation use the ‘build’ strategy to build a disruptive business model?

A
  • If time allows
  • Disruption is associated with the core business
  • The company can hire the right people
9
Q

When should an organisation use the ‘buy’ strategy to build a disruptive business model?

A
  • Time is an issue
  • Disruption is critical
  • The core model would have to change substantially
10
Q

When should an organisation use the ‘partner’ strategy to build a disruptive business model?

A
  • The company wants flexibility and speed
  • It is not strategically important to own
  • There is opportunity to learn from the partner
11
Q

What are the 5 digital operating models?

A
  1. Customer centric
  2. EXtra Frugal (less is more)
  3. Data powered
  4. Skynet (machines/automation)
  5. Open and Liquid (sharing/collaboration)
12
Q

Why was the introduction of the CDO role short lived?

A

Digital leadership must be holistic to the organisation