Introduction to Digital Business
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Questions and Answers

What is the primary focus of digital business?

  • Increasing employee headcount
  • Utilizing technology to improve business operations (correct)
  • Enhancing physical store experiences
  • Reducing online marketing expenses

    • Which statement best describes e-commerce?

  • Focusing exclusively on business-to-business interactions
  • Selling products solely through physical stores
  • Conducting business transactions over electronic networks (correct)
  • Engaging with customers through traditional advertising

    • What is a common barrier to the adoption of digital business?

  • High equipment costs and investments (correct)
  • Enhanced data management capabilities
  • Increased customer engagement
  • Improved supply chain interactions

    • What ongoing challenge might online startups face in managing their digital business?

    <p>Inconsistent digital marketing strategies</p> Signup and view all the answers

    Which of the following is a potential risk associated with introducing digital business?

    <p>Data security vulnerabilities</p> Signup and view all the answers

    How should businesses primarily explain the implications of digital business to their staff?

    <p>By highlighting new technologies and processes</p> Signup and view all the answers

    What was a key insight from Pierre Nanterme regarding the future of business?

    <p>Every business will eventually become digital.</p> Signup and view all the answers

    What should organizations assess to improve their digital business capabilities?

    <p>Current technology infrastructure and processes</p> Signup and view all the answers

    What best describes the Internet of Things?

    <p>The interconnection of everyday machines to each other and to humans.</p> Signup and view all the answers

    Which statement best describes how the World Wide Web is accessed?

    <p>Using desktop or mobile web browsers.</p> Signup and view all the answers

    What is the primary focus of digital business transformation?

    <p>Utilizing digital technology to enhance competitiveness.</p> Signup and view all the answers

    What does a 'value chain' analysis help organizations understand?

    <p>How supply chain activities can add value to products and services.</p> Signup and view all the answers

    What is meant by 'value networks'?

    <p>The relationships between an organization and its strategic and nonstrategic partners.</p> Signup and view all the answers

    Why do businesses apply digital technology and media?

    <p>To improve the competitiveness of the organization.</p> Signup and view all the answers

    What does digital business primarily aim to optimize?

    <p>Internal processes with both online and traditional channels.</p> Signup and view all the answers

    Which aspect is NOT part of the digital business approach?

    <p>Using only digital marketing strategies.</p> Signup and view all the answers

    What does supply chain management (SCM) primarily focus on?

    <p>The coordination of supply activities across the organization</p> Signup and view all the answers

    What is the primary purpose of stage models in digital business?

    <p>To assess advances in ICT use for processes</p> Signup and view all the answers

    In inbound marketing, how does the consumer typically interact with brands?

    <p>By actively seeking information through various channels</p> Signup and view all the answers

    What does the Zero Moment of Truth (ZMOT) emphasize in consumer behavior?

    <p>The research phase before visiting a retailer</p> Signup and view all the answers

    What is the main goal of content marketing?

    <p>To engage customers and achieve business objectives</p> Signup and view all the answers

    How do companies typically improve their visibility through search marketing?

    <p>By increasing their presence in search engine results</p> Signup and view all the answers

    Which of the following is NOT a component of content marketing?

    <p>Direct telemarketing to prospects</p> Signup and view all the answers

    What approach characterizes the strategies used in new communications approaches?

    <p>Leveraging consumer engagement through new digital channels</p> Signup and view all the answers

    What is a common characteristic of subscription access to content or services?

    <p>A range of documents can be accessed for a fixed period.</p> Signup and view all the answers

    Which revenue model involves payment for single access to a document, video, or music clip?

    <p>Pay-per-view access</p> Signup and view all the answers

    What value does subscriber data have in email marketing?

    <p>It helps in sending personalized emails to customers.</p> Signup and view all the answers

    What must site owners consider when calculating potential revenue for their online business?

    <p>The mix of revenue-generating techniques used.</p> Signup and view all the answers

    Which of the following is NOT one of the revenue options mentioned for online businesses?

    <p>Merchandise sales</p> Signup and view all the answers

    What is the focus of the business model outlined by Prof. Miguel Houghton?

    <p>Revenue generation through various models</p> Signup and view all the answers

    Which method is useful for online businesses to generate revenue through email?

    <p>Personalization based on visitor behavior</p> Signup and view all the answers

    Which of the following is a benefit of using a pay-per-view model?

    <p>Users pay only for the content they consume.</p> Signup and view all the answers

    What does a business model describe in relation to business actors?

    <p>The architecture for product, service, and information flows</p> Signup and view all the answers

    Which of the following is NOT a component in valuing tech start-ups?

    <p>Marketing Strategy</p> Signup and view all the answers

    How do digital businesses improve competitiveness?

    <p>By optimizing internal processes through digital technology and media</p> Signup and view all the answers

    What does the Internet primarily refer to?

    <p>The physical network linking computers globally</p> Signup and view all the answers

    Which of the following best represents the benefits of a business model?

    <p>It outlines potential benefits for various business actors</p> Signup and view all the answers

    What is one of the six factors considered when valuing a tech start-up?

    <p>Profile</p> Signup and view all the answers

    Which option correctly describes the role of the Business Model Canvas?

    <p>It provides a simplified view of a business's strategy</p> Signup and view all the answers

    What primary function does digital technology serve in digital businesses?

    <p>To optimize online and traditional channels for market supply</p> Signup and view all the answers

    Study Notes

    Introduction to Digital Business

    • Digital Business is about applying digital technology and media to improve a company’s competitiveness.
    • This is achieved by optimising internal processes with online and traditional channels to market and supply.
    • Digital Business is a future trend affecting technology, business and our interconnected world.

    Definitions

    • The Internet of Things (IoT) is the connected network of machines and humans, facilitating data exchange and communication.
    • The World Wide Web (WWW) allows publishing of information on the internet, accessible through web browsers.
    • The WWW displays interactive web pages with embedded graphics and text encoded in HTML/XML.

    Digital Business Innovation

    • Digital business has seen significant innovation throughout history, with key moments in 1990, 1995, 2000, 2005, 2010, and 2015.

    Supply Chain and Digital Business

    • The Supply Chain is a model that analyses how supply chain activities can be used to add value to products and services for the customer.
    • Supply Chain management (SCM) coordinates all supply activities from suppliers, partners to the customer.
    • Value networks link organisations to their strategic and non-strategic partners, forming part of the external value chain.

    New Players in the Digital World

    • The rise of the digital world has brought new players, like eBay and PayPal, who have completely transformed the online marketplace.

    New Communications Approaches and Consumer Behaviour

    • Inbound Marketing is where the customer actively seeks out information and engages with brands through content, search and social media marketing.
    • The Zero Moment of Truth (ZMOT) shows today’s multichannel consumer decision-making process as they actively search for information on aspects such as ratings, price and reviews before making a purchase.
    • Content marketing aims to engage customers and potential customers through text, rich media, audio and video content, aiming to meet business goals.
    • Search marketing seeks to increase a company’s visibility within search engines for relevant search terms.

    Business Model: Revenue Models

    • Subscription Access provides access to content or services for a fixed period.
    • Pay-per-view gives single access to a document, video or music clip, which can be downloaded.
    • Subscriber data email marketing uses available customer data for targeted email campaigns, either from the publisher or third parties.
    • Calculating revenue for an online business depends on the mix of revenue-generating techniques used on the site.

    Business Model Canvas

    • The Business Model Canvas provides a framework for product, service and information flow analysis by describing various business actors, their roles, potential benefits and revenue sources.

    Valuing Tech Startups

    • Factors influencing the valuation of tech startups include: concept, innovation, execution, traffic, financing, and profile.

    Digital Business in Summary

    • Digital Business focuses on utilising digital technology to enhance a business's competitiveness and optimize internal processes.
    • It utilizes online and traditional channels to adapt to consumer needs and market trends.
    • Digital Business reflects the impact of the internet and its role in connecting computers, enabling communication and data transfer across the globe.

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    Description

    Explore the fundamentals of Digital Business and how it leverages technology to enhance competitiveness. This quiz covers important concepts such as IoT, the World Wide Web, and key innovations in digital business history. Understand the role of supply chain in the digital landscape.

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