Podcast
Questions and Answers
What is the primary focus of digital business?
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?
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?
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?
What ongoing challenge might online startups face in managing their digital business?
Which of the following is a potential risk associated with introducing digital business?
Which of the following is a potential risk associated with introducing digital business?
How should businesses primarily explain the implications of digital business to their staff?
How should businesses primarily explain the implications of digital business to their staff?
What was a key insight from Pierre Nanterme regarding the future of business?
What was a key insight from Pierre Nanterme regarding the future of business?
What should organizations assess to improve their digital business capabilities?
What should organizations assess to improve their digital business capabilities?
What best describes the Internet of Things?
What best describes the Internet of Things?
Which statement best describes how the World Wide Web is accessed?
Which statement best describes how the World Wide Web is accessed?
What is the primary focus of digital business transformation?
What is the primary focus of digital business transformation?
What does a 'value chain' analysis help organizations understand?
What does a 'value chain' analysis help organizations understand?
What is meant by 'value networks'?
What is meant by 'value networks'?
Why do businesses apply digital technology and media?
Why do businesses apply digital technology and media?
What does digital business primarily aim to optimize?
What does digital business primarily aim to optimize?
Which aspect is NOT part of the digital business approach?
Which aspect is NOT part of the digital business approach?
What does supply chain management (SCM) primarily focus on?
What does supply chain management (SCM) primarily focus on?
What is the primary purpose of stage models in digital business?
What is the primary purpose of stage models in digital business?
In inbound marketing, how does the consumer typically interact with brands?
In inbound marketing, how does the consumer typically interact with brands?
What does the Zero Moment of Truth (ZMOT) emphasize in consumer behavior?
What does the Zero Moment of Truth (ZMOT) emphasize in consumer behavior?
What is the main goal of content marketing?
What is the main goal of content marketing?
How do companies typically improve their visibility through search marketing?
How do companies typically improve their visibility through search marketing?
Which of the following is NOT a component of content marketing?
Which of the following is NOT a component of content marketing?
What approach characterizes the strategies used in new communications approaches?
What approach characterizes the strategies used in new communications approaches?
What is a common characteristic of subscription access to content or services?
What is a common characteristic of subscription access to content or services?
Which revenue model involves payment for single access to a document, video, or music clip?
Which revenue model involves payment for single access to a document, video, or music clip?
What value does subscriber data have in email marketing?
What value does subscriber data have in email marketing?
What must site owners consider when calculating potential revenue for their online business?
What must site owners consider when calculating potential revenue for their online business?
Which of the following is NOT one of the revenue options mentioned for online businesses?
Which of the following is NOT one of the revenue options mentioned for online businesses?
What is the focus of the business model outlined by Prof. Miguel Houghton?
What is the focus of the business model outlined by Prof. Miguel Houghton?
Which method is useful for online businesses to generate revenue through email?
Which method is useful for online businesses to generate revenue through email?
Which of the following is a benefit of using a pay-per-view model?
Which of the following is a benefit of using a pay-per-view model?
What does a business model describe in relation to business actors?
What does a business model describe in relation to business actors?
Which of the following is NOT a component in valuing tech start-ups?
Which of the following is NOT a component in valuing tech start-ups?
How do digital businesses improve competitiveness?
How do digital businesses improve competitiveness?
What does the Internet primarily refer to?
What does the Internet primarily refer to?
Which of the following best represents the benefits of a business model?
Which of the following best represents the benefits of a business model?
What is one of the six factors considered when valuing a tech start-up?
What is one of the six factors considered when valuing a tech start-up?
Which option correctly describes the role of the Business Model Canvas?
Which option correctly describes the role of the Business Model Canvas?
What primary function does digital technology serve in digital businesses?
What primary function does digital technology serve in digital businesses?
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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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