Definitions Flashcards
(43 cards)
Contents of Business Model canvas (4)
- Resources/ Partners
- Value proposition
- Customers
- Costs
- Revenues
Goal of Business Model Canvas
The goal is to model the relationships between those factors as well as describe the company business model
3 Principles of prototyping
Right - Rapid - Rough
a) Right - the right method
- Think about the goal that is to be reaches with the respective prototype
b) Rapid - quickly iterate different directions
- Turn your ideas into low cost and effort prototypes
c) Rough - just good enough!
- It ́s about learning, not selling
Functions of Prototypes (3)
a) Inspire
b) Evaluate
c) Validate
When to Use induction/Deduction
- Induction when doing exploratory research
2. Deduction when doing confirmatory research
Research steps (4)
a) First formulate a theory
- Deduce consequences and make predictions
b) Form hypothesis
- Draw samples and test hypothesis
c) Empirical observation
- Inducing generalizations
d) Empirical generalizations
- Forming concepts developing and arranging theoretical propositions
Qualitative vs. Quantitative Research
a) Research interest
(1) Quantitative Design
(a) Search for invariant variables (2) Qualitative Design
(a) Search for new variables
b) Sampling strategy
(1) Quantitative Design (a) Statistical
(2) Qualitative Design (a) Theoretical
c) Data requirements
(1) Quantitative Design (a) Standardized
(2) Qualitative Design
(a) Non-standardized
d) Data processing
(1) Quantitative Design
(a) Mathematics (2) Qualitative Design
(a) Interpretation
e) Reasoning
(1) Quantitative Design (a) Deductive
(2) Qualitative Design (a) Inductive
f) Role of theory
(1) Quantitative Design
(a) Input through hypothesis (2) Qualitative Design
(a) Primarily outcome
g) Subjectivity
(1) Quantitative Design
(a) Confounding factor
(2) Qualitative Design (a) Creativity
h) Generalizability
(1) Quantitative Design
(a) High
(2) Qualitative Design (a) Low
5 archetypes of Innovation
- Reinventing Industries
- Substituting Products and Services
- Creating New Digital Businesses
- Reconfiguring Value Delivery Models
- Rethinking Value Propositions
7 Patterns of Business Models
Freemium Add-On Affiliation Cash Machine Digitalization Hidden Revenue Peer-to-Peer
Types of IT-enabled Business Model Innovations (5)
Substituting Rethinking Value Propositions Creating new Digital Businesses Reconfiguring Value Delivery Models Reinventing Industries
Elements of a balanced Scorecard (4)
Financials
Customer
Learning and Growth
Internal Business Process
Gartners Technology Trends (7)
Artificial Intelligence Intelligent Apps Digital Twins Cloud to the Edge Conversational Platform Blockchain Event-Driven
4 Drivers of Digital transformation
Social (Platforms, Business…)
Mobile (Mobility)
Analytics (Big Data)
Cloud (Distributed)
Heuristic: SMAC
5 steps of Design Thinking
- Empathize (Develop a understanding of the challenge)
- Define (Articulate the problem clearly)
- Ideate (Brainstorm)
- Prototype
- Test
Lean Startup:
- Describe Hypothesis
- Identify Assumptions
- Identify biggest risks
- Plan a Test
- Build something simple
- Test
- Analyze and Rethink
SCRUM
Especially for complex products
- It is a framework within different techniques can be applied
- Difficult to master
- Based on empirical process control —> Iterative
- Redefinition of the role of the Project Manager (PM)
- > PM is part of the operational team
- > PM is rather a moderator than a manager
- Dividing the Product Backlog into single Sprint Backlogs (single tasks)
When to Use What approach
- Simple: Routines
- Complicated: Classic project management
- Complex: Agile Methods
- Chaotic: Lean Startup
Parts of Information systems
Information systems are socio-technical systems that consist of human and machine components.
Goal: Optimal provision of information.
Parts:
Performance System (execution)
- Management System (control)
- Automated Part
- No automated Part
ERP System
In the center:
⁃ Central database
Around: - Financial Applications - Manufacturing Applications - Inventory and Supply Applications à Supplier side - Sales and Delivery Applications - Service Applications à Customer side - Reporting Applications à Managers and Stakeholders - Human Resource Applications à Employees
Advantages
- Reliable information access
- Delivery and cycle time reduction
- Cost reduction
- Simple adaptability
- Improved scalability
Disadvantages
- Time-consuming
- Expensive
- Vendor dependence
- Complexity
4 Types of Knowledge
- Data (just symbols)
- Information (data in a useful context)
- Knowledge (Application of data and information)
- Wisdom (deep understanding)
Knowledge contains - Experience - Information - Expert insight and provides a framework for evaluating new experiences and information.
4 Aspects of Knowledge Management
- Identifying
- Capturing
- Evaluating
- Sharing
Information.
Socialization: Is experienced knowledge (Tacit knowledge)
Externalization: Making Explicit Knowledge out of Tacit Knowledge
Internalization: Making Tacit Knowledge out of Explicit Knowledge
Combination: Combining different Explicit Knowledge
Operational aspects of Knowledge Management
- Identification
- Capturing
- Usage
- Sharing
- Development
Data warehouse
Is a collection of data in support of management’s decision making process.
Characteristics:
- Issue oriented
- Data from multiple sources
- Time-variant
- Data won’t be changed or removed
Layers:
- Sources
- Selection of information
- Data warehouse —> storage
- Online Analytical Processing (OLAP) —> Information modeling
- Business intelligence —> Application of information
Enterprise data types
-Online Transaction Processing (OLTP) Objective: Processing the everyday operation
—> Operational management
- Online Analytical Processing (OLAP) Objective: Analysis of corporate data
—> Strategic management
