Business decison making - 4th industrial revolution

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  • Created by: jf00632
  • Created on: 07-03-19 12:42
What is globalisation?
the process by which businesses or other organizations develop international influence or start operating on an international scale.
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What factors does this consist of?
economic, political, social and cultural
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What are the 4 industrial revolutions?
Mechanisation, electrification, technolgisation and digitisation
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What is digitisation?
This is the mass adoption of connected digital services. it involves the conversion of analogue data into digital info
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What are the 7 transformation digital technologies?
Artiifical intelligence, social media, Big data analytics and cloud, customer man and 3D printing, internet, self driving cars, drones
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What is Artificial intelligence?
Systems that think like humans, •Systems that act like humans•Systems that think rationally•Systems that act rationally
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What is cognitive computing?
This refers to to next-generation information systems that understand, reason, learn and interact.
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What does big data mean?
Big data is a term that describes large volumes of high velocity , complex and variable data that require advance techniques to enable the capture, storage, distribution , management and analysis of the information
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Examples?
Amazon suggested product feature and Navigation of Google maps
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What are the inhibators of change?
The innovators dilemma2.Low technology adoption rates 3.Conservative organisational cultures 4.Regulatory issues
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What is a unicorn?
This is when capitalists invest in companies in search of breakout hits that attract millions of users, billions in sales and enormous valuations. They have grown in size and number as investors chasing returns have bid up their value
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How much are tech companies now worth?
More than 70 technology companies are now valued at $1 billion or more.
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How much is silicon valley worth?
Silicon valley is worth over $10 million
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What 5 Technology trends changing the digital landscape?
The internet, outcome economy, platform revolution, intelligent enterprise, workforce reimagened
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What are the implications for business?
products and services (experiences), hyper-personllization, ownership of goods (access based models)
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Examples of products and services (experiences) (3)
Automotive: Personalised apps to aid efficient electricity consumption for electric car users2.Banking: Self –service, secure predictive services 3.Connected homes: shopping, energy, security, entertainment etc
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Examples of products and services (experiences) (3)
Education: Bespoke personalised learning tailored to individual requirements which monitors effective learning5.Healthcare:Move from population based diagnostics and prescriptions to individual centred experience6.Retail: Personalised interactive ins
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Examples of hyper- personification
Adidas- personalised shoes
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Implications with hyper personalisation
On demand manufacturing, agile supply chain, continuous access to customer data
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What are the Key factors affecting the success of access based business models?
Net asset value, underutillised capacity, share ability quotient, regularity enviro
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Problems with digital enterprise (3)
Those assumed to have no success get ignored, new innovations are unpredictable,
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Problems with digital enterprise (1)
globalisation has meant that global corporations seek large markets which are not the starting position of disrupting innovators. The lack of awareness may be becuase there is no: engagement, experience, knowledge, the skills to embrace change
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How can you survive disruption as a digital enterprise?
Digital business models, digital operating models, digital talents and skills, digital metrics
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What is on a New digital business and operating models for existing products?
Market penetration/ consolidation and market devlopment
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What is on a New digital business and operating models for new products?
product dev and diversification
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What would be on a Digital Enterprise: Operating Models?
Look at document on laptop
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What are the factors of digital employ-ability? (3)
Digitally relevant leadership, Attract, retain develop talent with digital skills and adaptable work force
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What are the factors of digital metrics?
look at document on lapto
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Why is digital traction important?
Strong digital traction= low/ no cost of marketing or service costs and boost company valuations - scalabilty and resillience in down turn
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What are the factors of Platform Economy: Digital B2B platform
driving transformed business models, assisting eco system growth, creating a win win for industry and society
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what strategies are paramount for success n a platform economy?
Reward sharing, digital metrics, A platform mindset, collaboration and partnership culture
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What are the implications for government and policy holders? (3)
employment, sustainability and trust
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What are the barriers to Barriers to unlocking value to industry and society?
lack of collaboration, regulation and protection of the consumer, cannibalisation revneue streams, skills gap, tech adoption rates
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What do business leaders need to do to succeed in the digital transformation? (2)
create viable new business models, develop sustainable partnerhips to build robust ecosystems
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What do business leaders need to do to succeed in the digital transformation? (3)
Embrace cultural shifts during and post disruption, faciliate the aquasition of goals for the future, invest in cyber secuirty
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What are the implications for government and policy-holders?
Regulatory structures that are fit for digitalisation•Protection of intangible assets•Investment in skills of the future •Enable societal value creation•Mitigate the local negative impacts of digitalisation
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What is the relevance to business decision making? 6
culture, skills, business models, regulations, customer rleationships and potential opportunities
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Other cards in this set

Card 2

Front

What factors does this consist of?

Back

economic, political, social and cultural

Card 3

Front

What are the 4 industrial revolutions?

Back

Preview of the front of card 3

Card 4

Front

What is digitisation?

Back

Preview of the front of card 4

Card 5

Front

What are the 7 transformation digital technologies?

Back

Preview of the front of card 5
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