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Digital Technologies in Business > Week 5 - Digital Transformation > Flashcards

Week 5 - Digital Transformation Flashcards

1
Q

What is Digital Transformation?

A
  • the Integration of Digital Technology Into All Areas of a Business, Fundamentally Changing How you Operate and Deliver Value to Customers
  • is a Cultural Change that Requires Organisations to Continually Challenge the Status Quo, Experiment and Get Comfortable with Failure
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2
Q

State 5 Benefits of DIGITAL TRANSFORMATION

A
  • Improved Operational Efficiency
  • Faster Time to Market
  • Meeting Changing Customer Expectation
  • Improved New Products and Services
  • Reduced Cost of Product
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3
Q

Explain the Difference between Digital Transformation and Digital Innovation?

A
  • Digital Transformation is an Ongoing Process to Transform and Improve Business Performance by Changing the Way a Company Thinks and Operates
  • Unlike Common Perception Isn’t Only About the Technology you Adopt, but also Involves People Process and Portfolio
  • Digital Innovation is that Spark of Creativity that Leads to Development of New Technology or Innovative Applications of Existing Digital Tech.
    DI is Often the Precursor to DT
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4
Q

State the 4 Key Drivers for Digital Transformation

A
  • Lack Face-to Face Interaction , Need for Virtual Interaction and Engagement
  • Pre-Covid technologies don’t cover this gap
  • Supply Chain Transformation
  • the Need for Business Sustainability
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5
Q

Explain the Concept of STRATEGIC DIGITAL TRANSFORMATION

A
  • High-level Digital Transformation Direct of an Organisation
  • may Results in Process Transformation of Business Activities
  • Require Change in Business Model and Value Proposition
  • Result in Change in Organisational Structure and Culture
  • Organisation may Diversify Into New Markets Add New Businesses to their Products and Services
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6
Q

State and Explain and Example of Strategic Digital Transformation

A
  • Nike Leveraged Data Analytics, Updated it’s E-Commerce Strategy, Created Stronger Digital Marketing Campaigns and Ramped Up its Direct to Customer Sales through Membership Opportunities and Improve the Customer Experience through Apps
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7
Q

State the 4 Types of Digital Transformation

A
  • BUSINESS PROCESS
  • BUSINESS MODEL
  • BUSINESS DOMAIN
  • CULTURAL / ORGANISATIONAL
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8
Q

Explain the Type of Digital Transformation

A
  • BUSINESS PROCEESS
  • BUSINESS MODEL
  • BUSINESS DOMIAN
  • CULTURAL / ORGANISTIONAL
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9
Q

Explain the Type of Digital Transformation - PROCESS TRANSFORMATION

A
  • Data, analytics, and other technologies Offer Corporations, Valuable New Ways to Reinvent Process Throughout the Corporation - Goal of Lowering Costs, Reducing Cycle Times or Increasing Quality
  • Process Transformation in Customer Experience, where companies like Domino’s have Completely Re-Imagined the Food Ordering Process. Let Customers Order from Any Device –> increased Customer Convenience –> Helps Push the Company to Overtake Pizza Hut in sales
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10
Q

Explain the Type of Digital Transformation - BUSINESS MODEL TRANSFORMATION

A
  • some Companies are Pursuing Digital Technologies to Transform Business Models
  • aimed at the Fundamental Building Blocks of How Value is Delivered in the Industry
  • e.g. Netflix’s reinvention of Video Distribution, Apple’s Reinvention of Music Delivery (I-Tunes)
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10
Q

Explain the Type of Digital Transformation - CUTURAL / ORGANISATIONAL TRANSFORMATION

A
  • Full , Long Term Digital Transformation Requires Defining Organisational Mindsets, Processes and Talent & Capabilities for the Digital World
  • Best in Class Corporations Recognise Digital Requires Agile Workflows, a bias toward Testing and Learning, Decentralised Decision-Making and a Greater Reliance on Business Ecosystems.
    and they Take Active Steps to Bring Change to their Organisations
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10
Q

Explain the Type of Digital Transformation - DOMAIN TRANSFORMATION

A
  • New Technologies are Redefining Products and Services, Blurring Industry Boundaries and Creating entirely New Sets of Non-Traditional Competitors
  • e.g. walmart moving into fintech, and Amazon expanded into a new market domain with the launch of Amazon Web Services
  • is the type of Transformation is that Offers the Greatest Opportunities to Create New Value
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11
Q

State 3 Challenges of DIGITAL TRANSFORMATION

A
  • Resistance from Customers (B2C)
  • IT- Business alignment. Leadership Become More Involved in IT
  • Long Term Change in Mind
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12
Q

State the 3 Stages if How Transformation Happen?

A
  • PLANNED (deliberate, top down - regulatory change, new policy)
  • TECHNOLOGICAL DISRUPTION / IMPERATIVE ( Technology as a Driver of Change)
  • EMERGENT (change as Rapid, Episodic, Radical; Crisis Response
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13
Q

Explain the Stage of How Transformation Happen : PLANNED CHANGE

A

External :
BUSINESS STRATERGY ; scope, competences, governance
IT STRATEGY ; scope, competences, governance

Internal :
ORGANISATIONAL INFRASTRUCTURE & PROCESSES ; infrastructure, skills, processes
IS INFRASTRUTURE & PROCESSES ; infrastructure, skills, processes

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14
Q

Explain the Stage of How Transformation Happen - DISRUPTION

A
  • Process whereby a Smaller Company with Fewer Resources is Able to Successfully Challenge Established Incumbent Business
  • Most disruptions have 3 Enablers
    Simplifying Technology
    Business Model Innovation
    Disruptive Value Network
  • the term ‘Disruptive Technology/Innovation’ has been Used More Generally to Mean an Innovation that Disrupts any of those : current practises, care processes, business models, organisational structures
15
Q

Explain the Stage of How Transformation Happen - EMERGENT CHANGE

A

Change is an “On-Going Improvisations in Day-to-Day Practised by Situated Actors
- IS is Only Partly Planned
- Incremental / Continuous Management
- Focus on Facilitating v Designing for Organisational Change
- From Design-implement Use to In-Use Design

16
Q

Explain the Concept of DIGITAL TRANSFORMATION PROCESS

A
  • is no Single Path to Digital Transformation, as the Strategy, Methods and Technology Deployed Must be Tailored to the Unique Vision and Values of Each Organisation
  • DT Isn’t a Fixed Destination with a Static State
  • DT’s Objective is to Help Create a Highly Dynamic Organisation with Institutional Capacity for Agility, Resilience, Rapid Innovation and Growth
17
Q

EXPLAIN a GENERIC DIGITAL TRANSFORMATION PROCESS

A

DIGITISATION - Changing from Analog or Physical to Digital Form :
1) Digitize Info
2) Organise Info
DIGITALISATION - Using Digital Technologies and Info to Transform Individual Institutional Operations
3) Automate Processes
4) Streamline Processes
DIGITAL TRANSFORMATION - series of Deep and Coordinated Culture, Workforce and Technology Shifts that Enable New Educational and Operating Models and Transform an Institution Operations
5) Transform the Institution

18
Q

Explain the BUILDING BLOCKS of DT PROCESS

A
  • DT Play a Central Role in the Creation Role in the Creation as Well as the Reinforcement of Disruptions Taking Place at the Society and Industry Levels
  • these Disruptions Trigger Strategic Responses From the Part of Organisations, which Occupy a Central Place in DT Literature
  • Organisations use Digital Technologies to Alter the Value Creation Paths they have Previously Relied Upon to Remain Competitive
  • to that end, they Must Implement Structural Changes and Overcome Barriers that Hinder their Transformation Effort
  • these Changes Lead to Positive Impacts for Organisations as Well as, In Some Instances, for Individuals and Society, although they Can be Associated with Undesirable Outcomes
19
Q
A

Digital Technologies in Business (11 decks)

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