Podcast
Questions and Answers
Which term refers to the process of turning physical information into digital format?
Which term refers to the process of turning physical information into digital format?
- Network effects
- Digitisation (correct)
- Digital disruptors
- Digital transformation
What are examples of digital disruptors?
What are examples of digital disruptors?
- Internet of things, cyber-security
- Uber, Air b&b, Facebook (correct)
- Social media, computer cloud, big data
- Encyclopaedia Britannica, Kodak
What is the definition of network effects?
What is the definition of network effects?
- Process of turning physical information into digital format
- Digital technologies transforming every aspect of a business
- Innovations in digital media enabling change in competition
- More people participating in a network increases its value (correct)
How many social media users are there predicted to be in 2027?
How many social media users are there predicted to be in 2027?
What is one change brought on by social media?
What is one change brought on by social media?
Which term refers to the process of turning physical information into digital format?
Which term refers to the process of turning physical information into digital format?
What are examples of digital technologies?
What are examples of digital technologies?
What is the definition of network effects?
What is the definition of network effects?
What is the 3M framework?
What is the 3M framework?
What is the definition of digital disruptors?
What is the definition of digital disruptors?
Study Notes
Digitalization
- Digitization refers to the process of turning physical information into digital format.
Digital Disruptors
- Examples of digital disruptors include companies like Uber, Airbnb, and Netflix, which have disrupted traditional industries.
Network Effects
- Network effects refer to the phenomenon where the value of a product or service increases as more users are added to the network.
Social Media
- There are predicted to be 4.4 billion social media users in 2027.
- One significant change brought on by social media is the shift in how people consume and interact with information.
Digital Technologies
- Examples of digital technologies include artificial intelligence, blockchain, and the Internet of Things (IoT).
3M Framework
- The 3M framework consists of three key elements: Market, Media, and Mobile, which are essential for understanding digital business.
Digital Disruption
- Digital disruptors are companies or technologies that radically change the way businesses operate, often by creating new markets or replacing existing ones.
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Description
Test your knowledge on digital transformation, growth in the digital era, and digital disruptors with this quiz. Explore the definitions and examples of these key concepts and see how well you understand the impact of digital technologies on businesses and competition.
