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Digital Transformation and Disruptors

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Questions and Answers

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?

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?

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?

5.85 billion Signup and view all the answers

What is one change brought on by social media?

Promotion of businesses Signup and view all the answers

Which term refers to the process of turning physical information into digital format?

Digitisation Signup and view all the answers

What are examples of digital technologies?

Social media, computer cloud, big data Signup and view all the answers

What is the definition of network effects?

More people participating in a network increases the value of the network Signup and view all the answers

What is the 3M framework?

A framework for digital transformation Signup and view all the answers

What is the definition of digital disruptors?

Innovations in digital media which enable change to a new basis for competition in a market Signup and view all the answers

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.

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.