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Questions and Answers
What characterizes a digital firm?
What characterizes a digital firm?
What is a misconception about digitizing a firm?
What is a misconception about digitizing a firm?
How are core business processes managed in a digital firm?
How are core business processes managed in a digital firm?
What kind of flexibility do digital firms offer?
What kind of flexibility do digital firms offer?
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What must digital firms quickly recognize and deal with?
What must digital firms quickly recognize and deal with?
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Study Notes
The Emerging Digital Firm
- A digital firm relies on digital technologies to enable significant business relationships with customers, suppliers, and employees.
- Transitioning to a digital firm is not merely about implementing computer systems; it's about rethinking and transforming business processes.
- Digital firms differentiate themselves by the integration of digital networks into core processes, facilitating operations across entire organizations and between multiple entities.
- Essential corporate assets like intellectual property, core competencies, and both financial and human resources are managed through digital platforms.
- Digital firms can rapidly identify and respond to changes in both internal and external environments, enhancing agility and responsiveness.
- Such firms inherently provide greater flexibility in organizational structure and management practices, enabling better adaptation to market demands.
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Description
Explore the concept of the digital firm in today's global business landscape. This chapter discusses how significant relationships and corporate assets are increasingly managed through digital means. Understand the implications of going digital beyond simply adding technology to outdated processes.
