Digital Strategy for Competitive Advantage

<p>To exploit selected digital opportunities (A)</p> Signup and view all the answers

<p>Mittelbayrische (D)</p> Signup and view all the answers

<p>By focusing on branding and customer interaction (D)</p> Signup and view all the answers

<p>To digitally enrich their TV portfolio (C)</p> Signup and view all the answers

<p>Good weather for launching campaigns (A)</p> Signup and view all the answers

<p>Integration of online gaming and ebooks (B)</p> Signup and view all the answers

<p>As a support function to achieve strategic goals (A)</p> Signup and view all the answers

<p>Broadening from limited to wider transformation scope (C)</p> Signup and view all the answers

<p>Seeks to invest in content platforms and processes (A)</p> Signup and view all the answers

<p>By defining digital ambition and identifying necessary changes (D)</p> Signup and view all the answers

<p>New banking behaviors and options (C)</p> Signup and view all the answers

<p>Emergence of cryptocurrency (A)</p> Signup and view all the answers

<p>To better understand customer expectations (D)</p> Signup and view all the answers

<p>Agile and scalable digital operations (B)</p> Signup and view all the answers

<p>Enhanced digital capabilities and customer experience (A)</p> Signup and view all the answers

<p>AI can enhance customer interactions and operational efficiency (B)</p> Signup and view all the answers

<p>Barriers related to integration and implementation (A)</p> Signup and view all the answers

<p>Developing a robust and flexible digital platform (B)</p> Signup and view all the answers

<p>Standardization and operational efficiency (D)</p> Signup and view all the answers

<p>Airbnb (B)</p> Signup and view all the answers

<p>Connecting products, services, and data innovatively (A)</p> Signup and view all the answers

<p>Volvo (C)</p> Signup and view all the answers

<p>Transitioned to the cosmetics industry (B)</p> Signup and view all the answers

<p>Government regulations (A)</p> Signup and view all the answers

<p>Customers who expect interaction through digital technologies (A)</p> Signup and view all the answers

<p>A digital business unit called Nike+ (A)</p> Signup and view all the answers

<p>Top management support (A)</p> Signup and view all the answers

<p>Physical office location (C)</p> Signup and view all the answers

<p>Both the company and employees (C)</p> Signup and view all the answers

<p>Increased competition (D)</p> Signup and view all the answers

<p>By aligning IT with business goals (B)</p> Signup and view all the answers

<p>Customer intimacy (C)</p> Signup and view all the answers

<p>Clear definition of digital ambition (C)</p> Signup and view all the answers

<p>Maximizing efficiencies and effectiveness through digital means (B)</p> Signup and view all the answers

<p>Digitalization of products and services (B)</p> Signup and view all the answers

<p>New skills and agile structure (A)</p> Signup and view all the answers

<p>Defining the digital ambition and scope (A)</p> Signup and view all the answers

<p>Enrichment of core products and stabilization of core businesses (B)</p> Signup and view all the answers

<p>Increasing manual processes (D)</p> Signup and view all the answers

<p>To evolve continuously (B)</p> Signup and view all the answers

<p>Enhancements in processes, products, and skills (B)</p> Signup and view all the answers

<p>Digital mindset and skill set (B)</p> Signup and view all the answers

Digital transformations can be driven by strategic choices or prompted by external threats.

Companies' desired outcomes and goals for their digital transformation journey.

To develop new business areas, enhance the company's TV portfolio, and diversify its businesses, while focusing on branding and customer interaction.

To strengthen their position as the top local news source and to deliver valuable information while creating value for customers.

The process of creating a plan for a company's digital transformation.

An advantage a company has over competitors by utilizing digital transformations.

A company's approach and practices for valuing and using data.

Extent to which a company's digital transformation will drastically alter its operations.

Achieving superior efficiency and effectiveness in business processes through technology.

Creating a competitive edge by standardizing processes for greater efficiency, as UPS did.

Overhauling an industry by introducing new digital technologies and models.

Substituting traditional offerings with digitally driven alternatives when faced with digital threats.

Building brand-new businesses leveraging digital technology and platforms. Nike+ is an example.

Rethinking how products, services, and data are connected to create extra value. Volvo transitioned from B2B to B2B2C.

Adjusting the company's offering to meet new needs of the market.

Technology used by Volvo connecting drivers directly to call centers, enhancing customer service.

Forces that push businesses to adopt digital technologies and change their ways of operating.

A plan to leverage digital technologies to achieve competitive advantage and expand business operations.

A fundamental change to how a company creates, delivers, and captures value, often enabled by digital technologies.

The skills, technologies, and processes a company needs to thrive in the digital age.

The ability to guide and empower an organization to effectively embrace and adapt to digital change.

Using artificial intelligence to gain an edge over competitors and improve business performance.

Challenges that companies face when trying to implement artificial intelligence.

The positive results that can be achieved by successfully integrating artificial intelligence into an organization.

The extent to which a company's digital transformation involves different areas like products, processes, and even the entire company.

The strategic purpose of technology in driving digital change - can be a catalyst for innovation, a support function, or both.

Innovative ways of operating and delivering value to customers leveraging digital technologies, transforming how a company earns revenue and interacts with customers.

The process of creating a plan for a company's digital transformation, including defining goals, identifying changes, setting measurable outcomes, and ensuring adaptability.

Ravensburger focuses on reengineering and digitizing processes to enhance customer experience, leading to a separate business unit and agile structure.

Mittelbayrische aims to improve processes through digitalization, leading to Enrichment of core products and market leadership.

Ravensburger invests in new IT systems and digital technologies to enhance customer experience, resulting in digitally enriched products.

Mittelbayrische prioritizes developing digital skills within existing staff through training programs, attracting digital natives.

Defining your Digital Ambition involves outlining your company's desired outcomes and goals for digital transformation.

Evaluating the scope of your digital transformation involves assessing the extent to which your digital future will be radically different.

Identifying changes to be made involves analyzing processes, products, business models, skills, organizational structure, and IT to understand how your company needs to adapt to its digital future.

Leveraging IT strategy involves understanding how your company can use technology to drive its strategic ambitions and achieve desired outcomes.

How a company utilizes technology to support and achieve its overall business goals during digital transformation.

Specific areas that need to be modified during a digital transformation, including processes, products, business models, skills, organizational structure, and IT systems.

Quantifiable benefits that a company can measure to assess the success of its digital transformation.

Quantifiable benefits that employees experience during and after a company's digital transformation.

A company's ability to balance exploiting existing operations with exploring new digital opportunities for continuous growth.

The factors that motivate a company to pursue digital transformation, including internal strategic decisions and external market pressures.