digital strategy Flashcards
(21 cards)
What are the five key phases of the Gartner Hype Cycle?
- Technology Trigger
- Peak of Inflated Expectations
- Trough of Disillusionment
- Slope of Enlightenment
- Plateau of Productivity
What begins the Technology Trigger phase?
A new technology breakthrough, product launch, or public demonstration generates initial interest.
What characterizes the Peak of Inflated Expectations?
Media hype and industry enthusiasm reach a high point, often leading to unrealistic expectations.
What happens during the Trough of Disillusionment?
Reality sets in as limitations and failures become apparent, leading to a decline in interest and media attention.
What is the focus during the Slope of Enlightenment?
Understanding of the technology’s strengths, weaknesses, and practical applications improves.
What occurs in the Plateau of Productivity phase?
The technology reaches maturity and gains widespread adoption with established standards and practices.
Define Digital Strategy.
An organization’s long-term goals and objectives for digitization and digitalization.
What is Digitization?
The process of converting information from a physical format into a digital one.
What is Digitalization ?
The strategic use of digital technologies to transform core business models, increasing efficiency and revenue.
What is one purpose of a Digital Strategy?
- Survive and compete in a digital world.
- Use digital tools to reach business goals
- Adapt to change from new tech and trends
- Improve customer experience, operations, or the whole business model
Fill in the blank: The World Economic Forum forecasts ________ clerical and record-keeping jobs disappearing globally by 2027.
26 million
What are the top skills identified by the World Economic Forum in 2023?
- Analytical thinking
- Problem-solving
- Creativity
List the eight predictions from Deloitte’s Finance 2025.
- Real-time finance
- Self-service
- Touchless transactions
- Cloud-based ERP
- AI and automation
- Data master
- Agile workforce
- Smarter insights
True or False: Digital Disruption presents only risks to organizations.
False
What influences the Business Model in a corporate strategy?
Business Strategy and Digital Strategy.
What does the Corporate Strategy determine?
Industries/ecosystems of operation.
How does Digital Strategy interact with Business Model?
It drives, evolves, or transforms the Business Model via digital assets/capabilities.
What is the primary response of Corporate Strategy to Digital Disruption?
Considers overall response to Digital Disruption.
Fill in the blank: The Slope of Enlightenment phase is characterized by ________ as enterprises fund pilots.
steady adoption
What happens to technologies during the Trough of Disillusionment?
Many projects are abandoned or fail to deliver expected results.
What is the impact of Digital Disruption on strategies?
It acts as a significant external force impacting all levels of strategy and the business model.
