week 9 Flashcards
(16 cards)
What is digital transformation?
Integration of digital technologies into all areas of business, fundamentally changing operations, value delivery, and culture.
What types of innovation are part of digital transformation?
*Process innovation (e.g., AI, automation)
*Business model innovation (e.g., platform companies, servitization)
*Product innovation (e.g., IoT, digital twins)
*Customer experience (e.g., omnichannel, personalisation)
*Workforce transformation (e.g., digital skills, remote work)
What is a platform company?
A business that creates value by facilitating direct interactions between two or more user groups (e.g., Uber, Airbnb, Grab).
What is servitization?
A strategy where manufacturers offer services alongside products (e.g., subscription models, maintenance, technical support).
What are digital twins?
Real-time digital replicas of physical objects, processes, or systems used for simulation and prediction.
Why do digital transformations vary across countries?
Due to institutional differences — e.g., labour laws, education systems, financial markets, and government coordination.
What is Japan’s institutional context?
*Coordinated market economy
*Long-term employment and seniority-based pay
*Tacit knowledge and incremental innovation
*Risk-averse and consensus-based culture
What are Japan’s digital transformation challenges?
*Ageing population
*Low risk capital
*Talent shortages
*Paper-based processes
*Delayed e-government services
What is Society 5.0?
A Japanese vision of a “super-smart society” that integrates digital technologies (IoT, AI, robotics) to solve social problems.
What is Nintendo’s role in Japan’s digital economy?
*Combines tradition with innovation
*Long-term employment model
*Conservative corporate governance
*Beneficiary of state cultural initiatives (e.g., Cool Japan)
What is Singapore’s institutional context?
*Hybrid state-led market economy
*Strong public administration and regulatory agility
*Government-linked companies (GLCs) and tripartite coordination
What are Singapore’s digital transformation strengths?
*Digital government leadership
*Smart Nation infrastructure
*High-quality education
*Strategic public-private partnerships
What are Singapore’s digital transformation challenges?
*SME digital adoption lag
*Dependence on foreign talent
*Privacy vs innovation tensions
*Ageing population
What is a regulatory sandbox?
A controlled environment where companies can test innovations under relaxed regulations with oversight.
What is Grab and how does it reflect Singapore’s digital model?
*Platform-based super-app (transport, food, finance)
*Temasek-backed
*Supports gig economy while aligning with worker protections
*Key actor in Smart Nation strategy
How do institutions shape digital transformation outcomes?
*Japan: Path-dependent, gradual, firm-specific innovation
*Singapore: Agile, state-coordinated, inclusive tech policies
*Institutions drive different innovation trajectories even with similar technologies
