SOLUTIONS 2025 LATEST VERSION.
What has led to the rapid change of today's business climate? How does that affect what you
will study in this course?
The rapid change was led from modern business. It drastically transformed all the existing
business models.
What is a legacy system? IT architecture?
Legacy Systems are old methods, computers, technology that are outdated but still used. IT
architecture is when it guides the process of planning, building, and interfacing with deployed IT
resources.
What are the on-demand and sharing economies? What propelled on-demand and shared
services? Give an example of an industry that drives the on-demand economy.
On demand Economy is economic activity created by technology companies that fulfil consumer
demand. Sharing economy is when economic system in which good or services are shared
between private individuals. They are propelled by smartphone-connect consumers, simple and
secure purchase flows, and location-based services. For example, Airbnb, Uber...
Give examples of key strategic and tactical questions that determine an organization's
profitability/performance.
For example, "What do we do," "How do we do it," "How can we be more efficient" ...
1
,How can a company benefit from a strong business model? Why is a good customer experience
so important?
It can deliver an incredible customer experience, increase market share, engage their
employees and many more. Having a strong relationship with customers can increase revenue
and make the business grow.
What is a disruptive business model? In what three ways do these business models serve the
on-demand economy?
Some disruptive business models are their subscription because customers pay monthly for
Netflix, Hulu, and many more. Another example is their experience and how they are willing to
pay a high price for a tesla or apple. The three what's for On-Demand Economy are Time,
Convenience and Personalized Service.
What role does today's IT play in the on-demand economy?
Companies become more invested in cybersecurity, application software development and
maintenance, enterprise resource planning and many more.
What is a technology platform? A technology stacks?
Technology platform is the operating system and computer hardware used as a base upon
which other applications processes, or technologies are developed. Technology Stack is the
multiple layers of hardware, software, network connectivity and data analytics capability that
comprise a technology platform.
Describe several trends that will drive the on-demand economy is the future.
1. Artificial intelligence Everywhere
2
, 2. Transparently Immersive Experiences
3. Technology platforms will become more sophisticated.
4. Supply chains with be re-invented.
5. Products will be delivered to consumers before they know they need it.
What does it mean to have a competitive advantage?
When an organization differentiates itself by charging less and creating and delivering better
quality products then there competitors.
Define the three components of a business process. Explain the differences between formal and
informal processes.
The three components of a business process are inputs which are raw materials, activities which
are the work that transforms input and acts on data and knowledge and deliverables which are
the products, services, planes or actions. Formal processes are step by step instructions, they
are well documented, they can increase efficiency and better quality. While informal processes
are undocumented, undefined, and usually found in highly skilled industries.
How would you go about evaluating and improving a business process?
1. Develop Vision and Objective
2. Understand Existing Processes
3. Identify Process for Redesign
4. Identify Change Levers
5. Implement New Process
6. Make New Process Operational
7. Evaluate New Process
3