digital business

Question 1

how has the role of technology changed

Answer 1

it has moved into the heart of business operations, the way it conducts business, generates revenue and seizes competitive advantage along with producing value (Gartner)

Question 2

define digital business

Answer 2

gartner defines digital business as the creation of new business designs by blurring the digital and physical world

Question 3

what is meant by new business designs

Answer 3

new products/services, business models, industry models etc

Question 4

What is meant by blurring the digital and physical worlds

Answer 4

physical products becoming smart and connected
for example
- software companies designing self driving cars
- manufacturers collecting product performance data to run remote services and upgrades

Question 5

List ways of business digitization

Answer 5

• e-commerce and selling online (1900)
• social media - content creators
• online advertising becoming lifeblood of advertisers, publishers/platforms and users
• products themselves started becoming digital - music downloads, e-books, etc.)

Question 6

2010 ways of business digitization

Answer 6

• digital channels extending to mobile and everyday devices
• digital footprints analysed in more depth for businesses to use (analytics and big data)
• new digital entrants such as UBER, airbnb,

Question 7

define e-commerce

Answer 7

aka electronic commerce; is the process of buying and selling goods and services electronically (suppliers/customers) and not necessarily internet

Question 8

Electronic business

Answer 8

it is e-commerce + the use of internet or other digital technologies for performing internal business processes and coordinating with suppliers and partners

Question 9

what are the categories of electronic commerce

Answer 9

B2C, B2B, C2C

Question 10

types of buyer’s connection

Answer 10

-Desktop computer or laptop
-Mobile commerce (m-commerce): using handheld devices (smartphones/tablets,etc.
- Location based commerce (I-commerce): m-comemrce that utilize geographical positioning information to provide value-added services to mobile consumers. eg. of services include finding petrol or restaurants only

Question 11

Describe B2C - value chain, economic actors, nature of prod, pattern of commerce, form of control

Answer 11

1. customer chain
2. customer/company
3. standrad priced items
4. cash/credit
5. markets

Question 12

B2B-value chain, economic actors, nature of prod, pattern of commerce, form of control

Answer 12

1. Supply chain
2. company/suppliers
3. customized / high price items
4. credit/repeat
5. hierarchies

Question 13

C2C- value chain, economic actors, nature of prod, pattern of commerce, form of control

Answer 13

1. Community chain
2. consumers/consumers
3. negotiated / low price items
4. cash
5. networks