BUSINESS DIGITALIZATION

SMAC Social media, mobile technologies, analytics of data, cloud computing

Technology push development + introduction of new technologies driven by advancements and innovations

Technology pull development of new technologies driven by market demands and needs

Diffusion of digital innovation theory Innovator, early adopters, early majority, late majority, laggards

External pressures of drivers of business digitalization Advancing digitalization, adopting new technologies, meet customer demand/needs, respond to new market trends and patterns

Internal expectations (drivers of business digitalization) For profit maximization and value creation through digital innovation, foster new technology innovation, embrace digital transformation for market changes

Essential elements for successful digital transformation Digital strategy, customer engagement and digitized solutions. Operational backbone, ensure efficiency, quality, reliability of core operations. Digital service platforms, rapid development and implementation of digital innovation

Digital platforms/map Marketplace, payment, community, communication, repository, search

Evolution of digital business platforms Initiating phase. Developing phase. Growing phase

Big data Volume, velocity, value, veracity, variety

Symmetric business Competition between similar firms

Assymmetric Different business models but are solving the same problem for customers

Co-operation Complementary services made more available for consumers

Co-opetition Cooperating with competitors to achieve common goals, Microsoft and Dell

Structural changes for the success of digital transformation process Organizational structure. Organizational culture. Leadership. Employee roles and skills

Implications of business digitalization Digitalizations fosters entrepreneurship. Digitalization and sustainability. Digitalization, individual freedoms and inequalities

Impact of business digitalization (Success/positive outcomes) Digital transformation. Growth. Productive entrepreneurship. Sustainable development

Impact of business digitalization (failure/negative outcomes) Bankruptcy. Reputation

Patent law Exclusive right granted for an invention. 20 years

Copyright Protection provided for authors for their original work. 25 to 70 years

Trademark Symbol for a product or service, consist of words, figures, letter, personal names, slogans or sounds. 10 years

Industrial design Visual features of a product, shapes/patterns. 10 years

Graphical indication Specific geographical origin. Tequila, Mexico

Trade secrets IP rights on confidential information. Formulas, recipes

E-commerce Buying and selling of goods/services over the internet. Foundational legal framework for online services in the EU. Aims to remove obstacles to cross border online.

E-commerce and consumer rights Transformed the way we shop. Persistent online barriers prevent us from enjoying full access to the G/S being offer

Contract law Two or more parties, written, oral or electronic form. Formal business agreement. offer, acceptance, consideration, intention

Marketing application of tools Social media. Banner advertising. Inbound marketing

Traditional marketing Aim is to increase sales and larger audiences

Inbound marketing Creating long-term relationships and the usage of social media

Persuasion knowledge Your understanding of how others try to influence your thoughts or actions through marketing tactics

B. Unified theory of acceptance and use of technology Performance expectancy. Effort expectancy. Social influence. Facilitating conditions

Business digitalization use of technology to improve major business areas

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