10 Questions
What are digital businesses primarily focused on?
Satisfying activities through technology and innovations
What is the most critical driver of economic development according to the text?
Technological evolutions and revolutions
What is the premise of the 4th industrial revolution (4iR) according to the text?
Digital entrepreneurship driving smart, digital, lean-structured businesses
What is transforming traditional business systems towards being smart, digital, lean-structured businesses according to the text?
Digital thinking
What is fast disrupting traditional market structures and economic systems according to the text?
Technology revolutions and innovations
What are digital businesses primarily focused on?
Satisfying activities primarily through technology and innovations
What is the premise of the 4th industrial revolution (4iR) driven by?
Digital entrepreneurship
What is fast disrupting traditional market structures and economic systems according to the text?
Technology revolutions and innovations
What are fast becoming critical drivers of competitiveness for business organisations?
Globalization, products/services digitization, and competition in cyber markets
What has remained the most critical driver of economic development according to the text?
Technological evolutions and revolutions
Study Notes
Digital Businesses and 4th Industrial Revolution
- Digital businesses are primarily focused on innovation, disruption, and creation of new markets and business models.
Drivers of Economic Development
- Knowledge and innovation are the most critical drivers of economic development.
Premise of 4th Industrial Revolution (4iR)
- The premise of the 4th industrial revolution (4iR) is the fusion of technologies, such as artificial intelligence, blockchain, and the Internet of Things (IoT), which are transforming traditional business systems.
Transformation of Business Systems
- Digitalization, artificial intelligence, and the Internet of Things (IoT) are transforming traditional business systems towards being smart, digital, lean-structured businesses.
Disruption of Market Structures
- Digitalization and the Internet of Things (IoT) are fast disrupting traditional market structures and economic systems.
Competitiveness of Business Organisations
- Digitalization, innovation, and knowledge are fast becoming critical drivers of competitiveness for business organisations.
Test your knowledge of digital business technology with this quiz on LIT 201. Explore topics such as technology design, development, and management, as well as the impact of technological evolutions and revolutions on digital businesses.
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