MGT211 Short Notes Lectures 41-45

MGT211 Short Notes Lecture 41 to 45 · Lecture 41 · Introduction to digital business · Digital business

A business having no physical existence and being involved in sale and purchase of goods or services in order to make profit with use of technology like daraz

Traditional · Digital Startup amount is high · High loons with markups

Not required

Example : factory

Example: Olx

Offices required

Not required

Employees required to come to office

Can work from anywhere

Capital/ machinery required

No need of equipment

Cost high

Cost low profit more

Want time

Save time

Why digital business methods?

1. Great technology
2. To survive in competitive
3. New opportunity
4. Speed of implementation
5. Choice option to customers

Best digital business strategy

Align and connect all channels to achieve good.

1. Search engine
2. Web page
3. App
4. Paper per click
5. Social media

Bad strategy

1. Missed opportunity
2. Inappropriate direction
3. Resource wastage
4. Limited integration

Step to build successful business

Step#1

Create the right mindset and shared understanding

Digital business it is not only about technology but all the aspects

Digital moments are opportunity in order to expand business.

Step#2

Put right leader in place

1. D strategist
2. D marketing leader
3. D business unit

CDO (chief digital officer) responsible for all above mentioned sole.

Step#3

Launches a digital business center of excellence (strengths weakness examined by employees)

Step#4

Formulate a digital strategy to respond to opportunity and threats

Step#5

Find develop and acquire digital business skill and rolls

Step#6

Great new digital business capabilities

Lecture 42 · digital transformation of business · Digital forces reshaping business and society · Everything turned online in the daily life · Digital five forces · Mobility:

Can operate from anywhere

Big date:

Huge storage of such company

Deeds with our interest related ads got post

Cloud:

App for file

Robotics:

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