SAMENVATTING:
Emerging Technologies
for Businesses
SEM 1
Handelswetenschappen I 2e BACH
AJ 2025-2026
Prof. van Looy
Academisch jaar 2025–2026
Dit document is een onafhankelijke samenvatting, opgesteld door een student op basis van persoonlijke notities en
studiemateriaal (academiejaar 2024-2025). Deze tekst is op geen enkele wijze officieel verbonden aan, goedgekeurd door,
of uitgegeven door de Universiteit Gent (UGent) of de betrokken professoren. Het document is uitsluitend bedoeld als
aanvulling. Hoewel deze samenvatting met de grootste zorg is samengesteld, kan de auteur niet aansprakelijk worden
gesteld voor eventuele fouten, onvolledigheden of afwijkingen van de leerstof voor het examen.
,12-1-2026 Emerging Technologies for Business
Inhoudstafel
1 INTRODUCTION TO A DIGITAL ECONOMY ...............................................................................16
1.1 THE RISE OF A DIGITAL ECONOMY ...............................................................................................16
1.2 DEFINING THE DIGI-RELATED CONCEPTS IN A DIGITAL ECONOMY ........................................................16
1.2.1 DIFFERENTIATING IT FROM A DIGITAL TECHNOLOGY .......................................................................... 16
1.2.2 DIFFERENTIATING DIGITAL INNOVATIONS ......................................................................................... 16
1.3 CENTRAL ROLE OF A DIGITAL BUSINESS MODEL ..............................................................................17
1.3.1 DIGITAL ENTREPRENEURSHIP ......................................................................................................... 17
1.3.2 BUSINESS MODEL INNOVATION ...................................................................................................... 18
1.3.3 BUSINESS MODEL THINKING ......................................................................................................... 18
1.3.4 TESTING BUSINESS MODELS – DFV CRITERIA ................................................................................... 18
1.3.5 FOUR VALUE TYPES ..................................................................................................................... 19
1.3.6 VALUE TYPES & BUSINESS MODEL CANVAS ..................................................................................... 19
1.4 AGILITY AS A NEW WAY OF WORKING..........................................................................................21
1.4.1 AGILE MANIFESTO (CORE EXAM POINTS) ......................................................................................... 21
1.4.2 SCRUM (AGILE COLLABORATION PRACTICE) ...................................................................................... 21
1.4.3 LEAN START-UPS, KANBAN, MVP .................................................................................................. 21
2 THEORIES OF TECHNOLOGY ADOPTION AND ACCEPTANCE .....................................................22
2.1 TECHNOLOGY ACCEPTANCE MODEL (TAM) — DAVIS ET AL. (1989) ...................................................22
2.1.1 CORE VARIABLES ......................................................................................................................... 22
2.2 UNIFIED THEORY ACCEPTANCE AND USE OF TECHNOLOGY (UTAUT) — VENKATESH ET AL. (2012) ...........22
2.3 TECHNOLOGY-ORGANIZATION-ENVIRONMENT FRAMEWORK (TOE) — DEPIETRO ET AL. (1990) ..............22
2.4 DIFFUSION OF INNOVATIONS — ROGERS (2003) ............................................................................23
2.4.1 ADOPTER CATEGORIES .................................................................................................................. 23
2.5 TECHNOLOGICAL EVOLUTION / HYPE CYCLE — GARTNER (1995) .......................................................23
2.5.1 PHASES:..................................................................................................................................... 23
2.6 SELECTION OF DIGITAL TECHNOLOGIES IN THIS COURSE ....................................................................23
2.6.1 THE 7 TECHNOLOGIES STUDIES: ...................................................................................................... 24
2.7 COURSE PER TECHNOLOGY .........................................................................................................24
2.7.1 PART A — TECHNOLOGY PASSPORT ............................................................................................... 24
2.7.2 PART B — TECHNOLOGY ADOPTION CASE ....................................................................................... 24
3 BUSINESS MODELS IN A DIGITAL ECONOMY............................................................................24
4 THE RISE OF A DIGITAL ECONOMY...........................................................................................25
4.1 FROM INDUSTRIAL REVOLUTIONS TO A DIGITAL ECONOMY ...............................................................25
4.2 INDUSTRY 4.0 .........................................................................................................................25
4.2.1 ORIGIN ...................................................................................................................................... 25
4.2.2 ORIGINAL MEANING ..................................................................................................................... 25
4.2.3 CURRENT MEANING ..................................................................................................................... 25
4.2.4 EXAMPLES .................................................................................................................................. 25
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4.3 INDUSTRY 5.0 (CONCEPTUAL EXTENSION) ......................................................................................25
4.4 ENERGY & INFRASTRUCTURE REALITY ...........................................................................................26
5 SCOPE OF THE DIGITAL ECONOMY (VERY IMPORTANT!)..........................................................26
5.1 THREE NESTED LAYERS ...............................................................................................................26
5.1.1 DIGITAL IT SECTORS ..................................................................................................................... 26
5.1.2 DIGITAL ECONOMY ...................................................................................................................... 26
5.1.3 DIGITALIZED ECONOMY................................................................................................................. 26
6 WHY ORGANIZATIONS NEED NEW BUSINESS MODELS ............................................................26
6.1 CHANGING CUSTOMER EXPECTATIONS..........................................................................................26
6.2 EX-CONOMY CHARACTERISTICS (VLERICK, 2014) ............................................................................27
7 DEFINING DIGI-RELATED CONCEPT (CORE THEORY BLOCK)......................................................27
7.1 IT CS DIGITAL TECHNOLOGY .......................................................................................................27
7.1.1 INFORMATION TECHNOLOGY (IT / ICT) ........................................................................................... 27
7.1.2 DIGITAL TECHNOLOGY: ................................................................................................................. 27
7.2 DIGITAL INNOVATION (UMBRELLA CONCEPT) .................................................................................27
7.3 THREE GRADATIONS OF DIGITAL INNOVATION (HIGHLY LIKELY EXAM SUBJECT) ......................................27
7.3.1 DIGITIZATION.............................................................................................................................. 27
7.3.2 DIGITALIZATION .......................................................................................................................... 27
7.3.3 DIGITAL TRANSFORMATION........................................................................................................... 28
7.3.4 RECAP ....................................................................................................................................... 28
7.4 DRIVERS OF DIGITAL TRANSFORMATION .......................................................................................28
7.5 IMPLICATIONS OF DIGITAL TRANSFORMATION ................................................................................28
7.6 REGULATION AS A CONSTRAINT...................................................................................................28
8 CENTRAL ROLE OF THE DIGITAL BUSINESS MODEL ..................................................................29
8.1 WHY BUSINESS MODELS MATTER ...............................................................................................29
8.2 BUSINESS MODEL VS PROCESS VS OUTCOME .................................................................................29
8.3 DEFINITION OF A BUSINESS MODEL ..............................................................................................29
8.3.1 THREE DIMENSIONS ..................................................................................................................... 29
9 VALUE AND VALUE TYPES .......................................................................................................29
9.1 VALUE PYRAMID ......................................................................................................................29
9.2 VALUE PROPOSITIONS ...............................................................................................................30
10 BUSINESS MODEL CANVAS (OSTERWALDER) .........................................................................30
10.1 PURPOSE..............................................................................................................................30
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10.2 THE NINE BUILDING BLOCKS.....................................................................................................30
11 THE “SWEET SPOT” OF INNOVATION (CORE CONCEPT) .........................................................31
11.1 TESTING A DIGITAL BUSINESS MODEL .........................................................................................31
11.1.1 DESIRABILITY ............................................................................................................................ 31
11.1.2 FEASIBILITY .............................................................................................................................. 32
11.1.3 VIABILITY ................................................................................................................................. 32
12 ORGANIZATIONAL CHALLENGES............................................................................................32
13 WHY PROCESS MANAGEMENT? ............................................................................................32
14 OMNIPRENSENCE OF PROCESSES IN ORGANIZATIONS ..........................................................32
15 WHAT IS A BUSINESS PROCESS? (DUMAS ET AL., 2018) .........................................................33
15.1 NAMING RULE .......................................................................................................................33
16 CORE FEATURES OF BUSINESS PROCESSES ............................................................................33
17 PROCESS HIERARCHY (ZOOMING IN AND OUT) .....................................................................34
18 TYPES OF BUSINESS PROCESSES ............................................................................................34
18.1 THREE PROCESS TYPES .............................................................................................................34
18.2 VALUE PERSPECTIVE (LEAN LOGIC) .............................................................................................34
19 ORIGINS AND HISTORY OF BPM ............................................................................................34
19.1 ADAM SMITH (1776) .............................................................................................................34
19.2 SCIENTIFIC MANAGEMENT (TAYLOR, 1900S) ...............................................................................35
19.3 LATE BIRTH OF PROCESS THINKING (LATE 1980S-1990S) ...............................................................35
19.4 BUSINESS PROCESS REENGINEERING (BPR) .................................................................................35
19.5 BUSINESS PROCESS IMPROVEMENT (BPI) — HARRINGTON .............................................................35
19.6 X-ENGINEERING (EARLY 2000S) ................................................................................................36
19.7 MODERN BPM TODAY ............................................................................................................36
20 WHAT IS BUSINESS PROCESS MANAGEMENT (BPM)? ............................................................36
20.1 DEFINITION — (DUMAS ET AL.).................................................................................................36
20.2 BPM ROLES AND STAKEHOLDERS ..............................................................................................36
20.3 OPERATIONAL BPM ROLES ......................................................................................................36
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21 BPM LIFECYCLES....................................................................................................................37
21.1 LIFECYCLE PHASE 1 — PROCESS INDENTIFICATION .........................................................................37
21.1.1 LINK PROCESSES TO.................................................................................................................... 37
21.1.2 GOAL ...................................................................................................................................... 37
21.1.3 WHY ORGANIZATIONS START BPM............................................................................................... 37
21.1.4 PERFORMANCE METRICS ............................................................................................................. 38
21.1.5 PROCESS ARCHITECTURE ............................................................................................................. 38
21.2 LIFECYCLE PHASE 2 — PROCESS DISCOVERY .................................................................................38
21.2.1 GOAL ...................................................................................................................................... 38
21.2.2 METHODS ................................................................................................................................ 38
21.2.3 BPMN — PROCESS MODELLING LANGUAGE ................................................................................. 38
21.3 LIFECYCLE PHASE 3 — PROCESS ANALYSIS ...................................................................................39
21.3.1 OPTION A: LEAN ....................................................................................................................... 39
21.3.2 OPTION B: SIX SIGMA ................................................................................................................ 39
21.4 LIFECYCLE PHASE 4 — PROCESS REDESIGN ..................................................................................40
21.4.1 MOTIVES ................................................................................................................................. 40
21.4.2 TRADE-OFFS ............................................................................................................................. 40
21.4.3 LINKED TO ................................................................................................................................ 40
21.5 LIFECYCLE PHASE 5 — PROCESS IMPLEMENTATION........................................................................40
21.6 LIFECYCLE PHASE 6 — PROCESS MONITORING .............................................................................40
21.6.1 PURPOSE ................................................................................................................................. 40
22 LIFECYCLE 0: BPM AS AN ENTERPRISE CAPABILITY .................................................................40
22.1 WHY BPM FAILS ...................................................................................................................40
22.1.1 CRITICAL SUCCES CAPABILITIES ..................................................................................................... 41
22.2 BUSINESS PROCESS MATURITY ..................................................................................................41
23 RECAP: 10 PRINCIPLES OF GOOD BPM ...................................................................................41
24 PROJECT MANAGEMENT .......................................................................................................41
24.1 INTRODUCTION......................................................................................................................41
24.1.1 REASONS ................................................................................................................................. 42
24.1.2 WITHOUT GOOD PROJECT MANAGEMENT ...................................................................................... 42
25 OMNIPRESENCE OF IT PROJECTS IN ORGANIZATIONS ...........................................................42
25.1 PRODUCT LIFE CYCLE VS PROJECT LIFE CYCLE .................................................................................42
25.1.1 PRODUCT LIFE CYCLE .................................................................................................................. 42
25.1.2 PROJECT LIFE CYCLE ................................................................................................................... 42
25.2 PROJECT LIFECYCLE VS SYSTEM DEVELOPMENT LIFECYCLE .................................................................42
25.2.1 PROJECT MANAGEMENT LIFECYCLE ............................................................................................... 42
25.2.2 SYSTEM DEVELOPMENT LIFECYCLE ................................................................................................ 42
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26 WHAT IS A PROJECT? ............................................................................................................42
26.1 TWO STANDARD DEFINITIONS ...................................................................................................42
26.1.1 PRINCE2 .................................................................................................................................. 42
26.1.2 PMI........................................................................................................................................ 42
26.1.3 KEY CHARACTERISTICS ................................................................................................................ 42
26.1.4 NOT PROJECTS .......................................................................................................................... 43
27 PROJECT MANAGEMENT BASICS ...........................................................................................43
27.1 WHAT IS PROJECT MANAGEMENT? ............................................................................................43
27.2 PROJECT MANAGEMENT TRIANGLE (VERY IMPORTANT) ..................................................................43
27.2.1 THE CLASSIC PM TRIANGLE ......................................................................................................... 43
27.2.2 PROJECT SUCCESS ...................................................................................................................... 43
28 WHY SO MANY IT PROJECTS FAIL ..........................................................................................43
28.1 FAILURE STATISTICS (CHAOS REPORTS) ......................................................................................43
28.2 AGILE VS WATERFALL SUCCESS RATES .........................................................................................43
28.2.1 AGILE PROJECTS ........................................................................................................................ 43
28.2.2 WATERFALL PROJECTS ................................................................................................................ 43
28.3 WHY SMALL PROJECTS SUCCEED MORE OFTEN ..............................................................................44
29 AGILITY AS A NEW WAY OF WORKING ..................................................................................44
29.1 MEANING OF AGILITY ..............................................................................................................44
29.2 TRADITIONAL VS AGILE ORGANIZATIONS ......................................................................................44
29.2.1 TRADITIONAL ORGANIZATIONS ..................................................................................................... 44
29.2.2 AGILE ORGANIZATIONS ............................................................................................................... 44
29.3 AGILITY FOR DIGITAL BUSINESS MODELS ......................................................................................44
30 THE AGILE MANIFESTO (2001) — CORE THEORY ....................................................................45
30.1 BACKGROUND .......................................................................................................................45
30.2 THE FOUR AGILE VALUES (MUST KNOW) .................................................................................45
30.3 THE TWELVE AGILE PRINCIPLES .................................................................................................45
30.4 AGILE VS WATERFALL (COMPARISON LOGIC)................................................................................45
30.4.1 WATERFALL.............................................................................................................................. 45
30.4.2 AGILE ...................................................................................................................................... 45
31 SCRUM SOFTWARE DEVELOPMENT.......................................................................................46
31.1 WHAT IS SCRUM? ..................................................................................................................46
31.2 SCRUM STRUCTURE ................................................................................................................46
31.3 SCRUM ROLES .......................................................................................................................46
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31.3.1 PRODUCT OWNER ..................................................................................................................... 46
31.3.2 SCRUM MASTER ....................................................................................................................... 46
31.3.3 DEVELOPMENT TEAM ................................................................................................................ 47
32 USER STORIES .......................................................................................................................47
32.1 WHAT IS A USER STORY?..........................................................................................................47
32.2 USER STORY ELEMENTS............................................................................................................47
32.2.1 USER STORIES ........................................................................................................................... 47
32.3 SPLITTING USER STORIES ..........................................................................................................47
32.3.1 EVERY STORY MUST ................................................................................................................... 47
32.4 INVEST CRITERIA...................................................................................................................47
32.5 ACCEPTANCE CRITERIA ............................................................................................................48
32.5.1 USED FOR ................................................................................................................................ 48
33 ESTIMATING WORK IN SCRUM ..............................................................................................48
33.1 STORY POINTS .......................................................................................................................48
33.2 VELOCITY .............................................................................................................................48
34 LEAN START-UPS ...................................................................................................................48
34.1 LEAN PHILOSOPHY ..................................................................................................................48
34.2 LEAN START-UP LOGIC ............................................................................................................49
34.3 MINIMUM VIABLE PRODUCT (MVP) .........................................................................................49
35 OTHER SOFTWARE DEVELOPMENT LIFECYCLES .....................................................................49
35.1 MAIN CATEGORIES .................................................................................................................49
36 TRADITIONAL PROJECT MANAGEMENT METHODOLOGIES ....................................................49
36.1 PMBOK (PMI) .....................................................................................................................49
36.2 PRINCE2 .............................................................................................................................49
37 PROJECT ORGANIZATION & PLANNING .................................................................................50
37.1 PROJECT ROLES .....................................................................................................................50
37.2 PROJECT PLANNING ................................................................................................................50
37.2.1 CRITICAL PATH .......................................................................................................................... 50
38 ARTIFICIAL INTELLIGENCE & ROBOTICS .................................................................................50
38.1 CENTRAL QUESTIONS OF SESSION 07..........................................................................................50
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39 OMNIPRESENCE OF AI ...........................................................................................................50
39.1 AI AS PART OF EVERYDAY DIGITAL LIFE ........................................................................................50
39.2 AI IN INDUSTRY 4.0 — STARA .................................................................................................51
39.3 DIGITAL INCLUSION AND DIGITAL DIVIDES ....................................................................................51
39.4 TYPES OF DIGITAL DIVIDES ........................................................................................................51
39.5 EMERGING AI DIVIDE ..............................................................................................................52
39.6 AUTOMATION IN HISTORICAL PERSPECTIVE ..................................................................................52
40 TECHNOLOGY PASSPORT — HOW IS AI USED? ......................................................................52
40.1 WHAT IS ARTIFICIAL INTELLIGENCE .............................................................................................52
40.1.1 ORIGINAL MEANING (+/- 1955) .................................................................................................. 52
40.1.2 TODAY’S MEANING .................................................................................................................... 52
40.1.3 FORMAL DEFINITION .................................................................................................................. 52
40.2 TWO KEY AXES TO UNDERSTAND AI ............................................................................................52
41 LEARNING APPROACHES IN AI...............................................................................................53
41.1 MACHINE LEARNING (ML) .......................................................................................................53
41.2 SUPERVISES LEARNING ............................................................................................................53
41.3 UNSUPERVISED LEARNING ........................................................................................................53
41.4 REINFORCEMENT LEARNING......................................................................................................53
42 AI METHODS AND TECHNIQUES ............................................................................................54
42.1 FROM STATISTICS TO DEEP LEARNING..........................................................................................54
42.1.1 AANS ..................................................................................................................................... 54
42.2 DEEP LEARNING .....................................................................................................................54
42.3 CONCEPTUAL HIERARCHY .........................................................................................................54
43 AI APPLICATION AREAS .........................................................................................................54
43.1 FOUNDATION MODELS & GENERATIVE AI ....................................................................................54
43.2 PROMPT ENGINEERING ............................................................................................................55
44 TECHNOLOGY PASSPORT — WHAT IS AI USED FOR?..............................................................55
44.1 CURRENT APPLICATIONS ..........................................................................................................55
44.2 CHATBOTS, COPILOTS & GENERATIVE AI......................................................................................55
44.3 ROBOTICS.............................................................................................................................56
44.4 FUTURE APPLICATIONS ............................................................................................................56
45 TECHNOLOGY PASSPORT — HOW TO PREPARE FOR AI? ........................................................56
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45.1 REQUIRED SKILLS....................................................................................................................56
45.2 HUMAN-ROBOT COLLABORATION ..............................................................................................56
45.3 IMPACT ON EDUCATION ...........................................................................................................57
46 TECHNOLOGY PASSPORT — SUSTAINABLE AI ........................................................................57
46.1 SECURITY CONCERNS ...............................................................................................................57
46.2 ETHICAL CONCERNS ................................................................................................................57
46.3 INCLUSION CONCERNS .............................................................................................................57
46.4 ENVIRONMENTAL CONCERNS ....................................................................................................57
47 CASE PASSPORT — CNH INDUSTRIAL ....................................................................................57
47.1 CASE CONTEXT.......................................................................................................................57
47.2 PLANNING ............................................................................................................................57
47.3 REALIZATION.........................................................................................................................58
47.4 EVALUATION .........................................................................................................................58
47.5 LESSONS LEARNED ..................................................................................................................58
48 RECAP ...................................................................................................................................58
49 INTERNET OF THINGS (IOT) ...................................................................................................58
49.1 CENTRAL QUESTIONS ..............................................................................................................58
50 WHY THIS TECHNOLOGY ICON? .............................................................................................58
51 TECHNOLOGY PASSPORT — HOW IS IOT USED? ....................................................................59
51.1 DEFINITION OF IOT .................................................................................................................59
51.2 IOT DEVICE TYPES ..................................................................................................................59
51.3 PRIVATE IOT EXAMPLES ..........................................................................................................59
51.4 PROFESSIONAL IOT EXAMPLES ..................................................................................................59
51.5 CONNECTING PHYSICAL AND DIGITAL WORLDS .............................................................................60
51.6 SYNERGY WITH AI ..................................................................................................................60
51.7 KEY TERMINOLOGY.................................................................................................................60
51.7.1 INDUSTRIAL IOT (IIOT) ............................................................................................................... 60
51.7.2 CYBER-PHYSICAL SYSTEMS (CPS) ................................................................................................. 60
51.7.3 CLOUD COMPUTING ................................................................................................................... 61
51.7.4 SMART IOT APPLICAION AREAS .................................................................................................... 61
52 TECHNOLOGY PASSPORT — WHAT IS IOT USED FOR? ...........................................................61
52.1 CURRENT APPLICATIONS ..........................................................................................................61
52.2 FUTURE APPLICATIONS ............................................................................................................61
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53 TECHNOLOGY PASSPORT — HOW TO PREPARE FOR IOT? ......................................................61
53.1 REQUIRED SKILLS ...................................................................................................................61
53.1.1 GENERAL ................................................................................................................................. 61
53.1.2 HARDWARE ENGINEERS .............................................................................................................. 62
53.1.3 SOFTWARE ENGINEERS ............................................................................................................... 62
53.2 IMPACT ON EDUCATION ..........................................................................................................62
54 TECHNOLOGY PASSPORT — SUSTAINABLE IOT ......................................................................62
54.1 SECURITY CONCERNS ..............................................................................................................62
54.2 ETHICAL CONCERNS ................................................................................................................62
54.3 INCLUSION CONCERNS (DUAL NATURE) ......................................................................................62
55 CASE PASSPORT — IOT AT ATLAS COPCO ..............................................................................63
55.1 CASE CONTEXT ......................................................................................................................63
55.2 STRATEGIC ALIGNMENT ...........................................................................................................63
55.3 PLANNING THE IOT INITIATIVE...................................................................................................63
55.3.1 THREE IOT PILLARS .................................................................................................................... 63
55.3.2 ORGANIZATIONAL SETUP ............................................................................................................ 63
55.4 REALIZATION.........................................................................................................................63
55.5 STAKEHOLDER REACTIONS........................................................................................................64
55.6 SECURITY MANAGEMENT.........................................................................................................64
55.7 EVALUATION .........................................................................................................................64
55.7.1 CUSTOMER OUTCOMES .............................................................................................................. 64
55.7.2 PERFORMANCE OUTCOMES ......................................................................................................... 64
55.7.3 FUTURE STEPS........................................................................................................................... 64
56 LESSONS LEARNED FROM THE CASE ......................................................................................64
57 WRAP-UP ..............................................................................................................................65
57.1 KEY PERSPECTIVES ..................................................................................................................65
58 CENTRAL QUESTION ..............................................................................................................66
58.1 TEASER QUESTION () ...............................................................................................................66
59 TECHNOLOGY PASSPORT — HOW IS VR-AR USED? ................................................................66
59.1 DEFINITION...........................................................................................................................66
59.1.1 VIRTUAL REALITY (VR) ............................................................................................................... 66
59.1.2 AUGMENTED REALITY (AR) ......................................................................................................... 66
59.2 CONCEPTUAL DIFFERENCE ........................................................................................................66
Pagina | 9
Emerging Technologies
for Businesses
SEM 1
Handelswetenschappen I 2e BACH
AJ 2025-2026
Prof. van Looy
Academisch jaar 2025–2026
Dit document is een onafhankelijke samenvatting, opgesteld door een student op basis van persoonlijke notities en
studiemateriaal (academiejaar 2024-2025). Deze tekst is op geen enkele wijze officieel verbonden aan, goedgekeurd door,
of uitgegeven door de Universiteit Gent (UGent) of de betrokken professoren. Het document is uitsluitend bedoeld als
aanvulling. Hoewel deze samenvatting met de grootste zorg is samengesteld, kan de auteur niet aansprakelijk worden
gesteld voor eventuele fouten, onvolledigheden of afwijkingen van de leerstof voor het examen.
,12-1-2026 Emerging Technologies for Business
Inhoudstafel
1 INTRODUCTION TO A DIGITAL ECONOMY ...............................................................................16
1.1 THE RISE OF A DIGITAL ECONOMY ...............................................................................................16
1.2 DEFINING THE DIGI-RELATED CONCEPTS IN A DIGITAL ECONOMY ........................................................16
1.2.1 DIFFERENTIATING IT FROM A DIGITAL TECHNOLOGY .......................................................................... 16
1.2.2 DIFFERENTIATING DIGITAL INNOVATIONS ......................................................................................... 16
1.3 CENTRAL ROLE OF A DIGITAL BUSINESS MODEL ..............................................................................17
1.3.1 DIGITAL ENTREPRENEURSHIP ......................................................................................................... 17
1.3.2 BUSINESS MODEL INNOVATION ...................................................................................................... 18
1.3.3 BUSINESS MODEL THINKING ......................................................................................................... 18
1.3.4 TESTING BUSINESS MODELS – DFV CRITERIA ................................................................................... 18
1.3.5 FOUR VALUE TYPES ..................................................................................................................... 19
1.3.6 VALUE TYPES & BUSINESS MODEL CANVAS ..................................................................................... 19
1.4 AGILITY AS A NEW WAY OF WORKING..........................................................................................21
1.4.1 AGILE MANIFESTO (CORE EXAM POINTS) ......................................................................................... 21
1.4.2 SCRUM (AGILE COLLABORATION PRACTICE) ...................................................................................... 21
1.4.3 LEAN START-UPS, KANBAN, MVP .................................................................................................. 21
2 THEORIES OF TECHNOLOGY ADOPTION AND ACCEPTANCE .....................................................22
2.1 TECHNOLOGY ACCEPTANCE MODEL (TAM) — DAVIS ET AL. (1989) ...................................................22
2.1.1 CORE VARIABLES ......................................................................................................................... 22
2.2 UNIFIED THEORY ACCEPTANCE AND USE OF TECHNOLOGY (UTAUT) — VENKATESH ET AL. (2012) ...........22
2.3 TECHNOLOGY-ORGANIZATION-ENVIRONMENT FRAMEWORK (TOE) — DEPIETRO ET AL. (1990) ..............22
2.4 DIFFUSION OF INNOVATIONS — ROGERS (2003) ............................................................................23
2.4.1 ADOPTER CATEGORIES .................................................................................................................. 23
2.5 TECHNOLOGICAL EVOLUTION / HYPE CYCLE — GARTNER (1995) .......................................................23
2.5.1 PHASES:..................................................................................................................................... 23
2.6 SELECTION OF DIGITAL TECHNOLOGIES IN THIS COURSE ....................................................................23
2.6.1 THE 7 TECHNOLOGIES STUDIES: ...................................................................................................... 24
2.7 COURSE PER TECHNOLOGY .........................................................................................................24
2.7.1 PART A — TECHNOLOGY PASSPORT ............................................................................................... 24
2.7.2 PART B — TECHNOLOGY ADOPTION CASE ....................................................................................... 24
3 BUSINESS MODELS IN A DIGITAL ECONOMY............................................................................24
4 THE RISE OF A DIGITAL ECONOMY...........................................................................................25
4.1 FROM INDUSTRIAL REVOLUTIONS TO A DIGITAL ECONOMY ...............................................................25
4.2 INDUSTRY 4.0 .........................................................................................................................25
4.2.1 ORIGIN ...................................................................................................................................... 25
4.2.2 ORIGINAL MEANING ..................................................................................................................... 25
4.2.3 CURRENT MEANING ..................................................................................................................... 25
4.2.4 EXAMPLES .................................................................................................................................. 25
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4.3 INDUSTRY 5.0 (CONCEPTUAL EXTENSION) ......................................................................................25
4.4 ENERGY & INFRASTRUCTURE REALITY ...........................................................................................26
5 SCOPE OF THE DIGITAL ECONOMY (VERY IMPORTANT!)..........................................................26
5.1 THREE NESTED LAYERS ...............................................................................................................26
5.1.1 DIGITAL IT SECTORS ..................................................................................................................... 26
5.1.2 DIGITAL ECONOMY ...................................................................................................................... 26
5.1.3 DIGITALIZED ECONOMY................................................................................................................. 26
6 WHY ORGANIZATIONS NEED NEW BUSINESS MODELS ............................................................26
6.1 CHANGING CUSTOMER EXPECTATIONS..........................................................................................26
6.2 EX-CONOMY CHARACTERISTICS (VLERICK, 2014) ............................................................................27
7 DEFINING DIGI-RELATED CONCEPT (CORE THEORY BLOCK)......................................................27
7.1 IT CS DIGITAL TECHNOLOGY .......................................................................................................27
7.1.1 INFORMATION TECHNOLOGY (IT / ICT) ........................................................................................... 27
7.1.2 DIGITAL TECHNOLOGY: ................................................................................................................. 27
7.2 DIGITAL INNOVATION (UMBRELLA CONCEPT) .................................................................................27
7.3 THREE GRADATIONS OF DIGITAL INNOVATION (HIGHLY LIKELY EXAM SUBJECT) ......................................27
7.3.1 DIGITIZATION.............................................................................................................................. 27
7.3.2 DIGITALIZATION .......................................................................................................................... 27
7.3.3 DIGITAL TRANSFORMATION........................................................................................................... 28
7.3.4 RECAP ....................................................................................................................................... 28
7.4 DRIVERS OF DIGITAL TRANSFORMATION .......................................................................................28
7.5 IMPLICATIONS OF DIGITAL TRANSFORMATION ................................................................................28
7.6 REGULATION AS A CONSTRAINT...................................................................................................28
8 CENTRAL ROLE OF THE DIGITAL BUSINESS MODEL ..................................................................29
8.1 WHY BUSINESS MODELS MATTER ...............................................................................................29
8.2 BUSINESS MODEL VS PROCESS VS OUTCOME .................................................................................29
8.3 DEFINITION OF A BUSINESS MODEL ..............................................................................................29
8.3.1 THREE DIMENSIONS ..................................................................................................................... 29
9 VALUE AND VALUE TYPES .......................................................................................................29
9.1 VALUE PYRAMID ......................................................................................................................29
9.2 VALUE PROPOSITIONS ...............................................................................................................30
10 BUSINESS MODEL CANVAS (OSTERWALDER) .........................................................................30
10.1 PURPOSE..............................................................................................................................30
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10.2 THE NINE BUILDING BLOCKS.....................................................................................................30
11 THE “SWEET SPOT” OF INNOVATION (CORE CONCEPT) .........................................................31
11.1 TESTING A DIGITAL BUSINESS MODEL .........................................................................................31
11.1.1 DESIRABILITY ............................................................................................................................ 31
11.1.2 FEASIBILITY .............................................................................................................................. 32
11.1.3 VIABILITY ................................................................................................................................. 32
12 ORGANIZATIONAL CHALLENGES............................................................................................32
13 WHY PROCESS MANAGEMENT? ............................................................................................32
14 OMNIPRENSENCE OF PROCESSES IN ORGANIZATIONS ..........................................................32
15 WHAT IS A BUSINESS PROCESS? (DUMAS ET AL., 2018) .........................................................33
15.1 NAMING RULE .......................................................................................................................33
16 CORE FEATURES OF BUSINESS PROCESSES ............................................................................33
17 PROCESS HIERARCHY (ZOOMING IN AND OUT) .....................................................................34
18 TYPES OF BUSINESS PROCESSES ............................................................................................34
18.1 THREE PROCESS TYPES .............................................................................................................34
18.2 VALUE PERSPECTIVE (LEAN LOGIC) .............................................................................................34
19 ORIGINS AND HISTORY OF BPM ............................................................................................34
19.1 ADAM SMITH (1776) .............................................................................................................34
19.2 SCIENTIFIC MANAGEMENT (TAYLOR, 1900S) ...............................................................................35
19.3 LATE BIRTH OF PROCESS THINKING (LATE 1980S-1990S) ...............................................................35
19.4 BUSINESS PROCESS REENGINEERING (BPR) .................................................................................35
19.5 BUSINESS PROCESS IMPROVEMENT (BPI) — HARRINGTON .............................................................35
19.6 X-ENGINEERING (EARLY 2000S) ................................................................................................36
19.7 MODERN BPM TODAY ............................................................................................................36
20 WHAT IS BUSINESS PROCESS MANAGEMENT (BPM)? ............................................................36
20.1 DEFINITION — (DUMAS ET AL.).................................................................................................36
20.2 BPM ROLES AND STAKEHOLDERS ..............................................................................................36
20.3 OPERATIONAL BPM ROLES ......................................................................................................36
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21 BPM LIFECYCLES....................................................................................................................37
21.1 LIFECYCLE PHASE 1 — PROCESS INDENTIFICATION .........................................................................37
21.1.1 LINK PROCESSES TO.................................................................................................................... 37
21.1.2 GOAL ...................................................................................................................................... 37
21.1.3 WHY ORGANIZATIONS START BPM............................................................................................... 37
21.1.4 PERFORMANCE METRICS ............................................................................................................. 38
21.1.5 PROCESS ARCHITECTURE ............................................................................................................. 38
21.2 LIFECYCLE PHASE 2 — PROCESS DISCOVERY .................................................................................38
21.2.1 GOAL ...................................................................................................................................... 38
21.2.2 METHODS ................................................................................................................................ 38
21.2.3 BPMN — PROCESS MODELLING LANGUAGE ................................................................................. 38
21.3 LIFECYCLE PHASE 3 — PROCESS ANALYSIS ...................................................................................39
21.3.1 OPTION A: LEAN ....................................................................................................................... 39
21.3.2 OPTION B: SIX SIGMA ................................................................................................................ 39
21.4 LIFECYCLE PHASE 4 — PROCESS REDESIGN ..................................................................................40
21.4.1 MOTIVES ................................................................................................................................. 40
21.4.2 TRADE-OFFS ............................................................................................................................. 40
21.4.3 LINKED TO ................................................................................................................................ 40
21.5 LIFECYCLE PHASE 5 — PROCESS IMPLEMENTATION........................................................................40
21.6 LIFECYCLE PHASE 6 — PROCESS MONITORING .............................................................................40
21.6.1 PURPOSE ................................................................................................................................. 40
22 LIFECYCLE 0: BPM AS AN ENTERPRISE CAPABILITY .................................................................40
22.1 WHY BPM FAILS ...................................................................................................................40
22.1.1 CRITICAL SUCCES CAPABILITIES ..................................................................................................... 41
22.2 BUSINESS PROCESS MATURITY ..................................................................................................41
23 RECAP: 10 PRINCIPLES OF GOOD BPM ...................................................................................41
24 PROJECT MANAGEMENT .......................................................................................................41
24.1 INTRODUCTION......................................................................................................................41
24.1.1 REASONS ................................................................................................................................. 42
24.1.2 WITHOUT GOOD PROJECT MANAGEMENT ...................................................................................... 42
25 OMNIPRESENCE OF IT PROJECTS IN ORGANIZATIONS ...........................................................42
25.1 PRODUCT LIFE CYCLE VS PROJECT LIFE CYCLE .................................................................................42
25.1.1 PRODUCT LIFE CYCLE .................................................................................................................. 42
25.1.2 PROJECT LIFE CYCLE ................................................................................................................... 42
25.2 PROJECT LIFECYCLE VS SYSTEM DEVELOPMENT LIFECYCLE .................................................................42
25.2.1 PROJECT MANAGEMENT LIFECYCLE ............................................................................................... 42
25.2.2 SYSTEM DEVELOPMENT LIFECYCLE ................................................................................................ 42
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26 WHAT IS A PROJECT? ............................................................................................................42
26.1 TWO STANDARD DEFINITIONS ...................................................................................................42
26.1.1 PRINCE2 .................................................................................................................................. 42
26.1.2 PMI........................................................................................................................................ 42
26.1.3 KEY CHARACTERISTICS ................................................................................................................ 42
26.1.4 NOT PROJECTS .......................................................................................................................... 43
27 PROJECT MANAGEMENT BASICS ...........................................................................................43
27.1 WHAT IS PROJECT MANAGEMENT? ............................................................................................43
27.2 PROJECT MANAGEMENT TRIANGLE (VERY IMPORTANT) ..................................................................43
27.2.1 THE CLASSIC PM TRIANGLE ......................................................................................................... 43
27.2.2 PROJECT SUCCESS ...................................................................................................................... 43
28 WHY SO MANY IT PROJECTS FAIL ..........................................................................................43
28.1 FAILURE STATISTICS (CHAOS REPORTS) ......................................................................................43
28.2 AGILE VS WATERFALL SUCCESS RATES .........................................................................................43
28.2.1 AGILE PROJECTS ........................................................................................................................ 43
28.2.2 WATERFALL PROJECTS ................................................................................................................ 43
28.3 WHY SMALL PROJECTS SUCCEED MORE OFTEN ..............................................................................44
29 AGILITY AS A NEW WAY OF WORKING ..................................................................................44
29.1 MEANING OF AGILITY ..............................................................................................................44
29.2 TRADITIONAL VS AGILE ORGANIZATIONS ......................................................................................44
29.2.1 TRADITIONAL ORGANIZATIONS ..................................................................................................... 44
29.2.2 AGILE ORGANIZATIONS ............................................................................................................... 44
29.3 AGILITY FOR DIGITAL BUSINESS MODELS ......................................................................................44
30 THE AGILE MANIFESTO (2001) — CORE THEORY ....................................................................45
30.1 BACKGROUND .......................................................................................................................45
30.2 THE FOUR AGILE VALUES (MUST KNOW) .................................................................................45
30.3 THE TWELVE AGILE PRINCIPLES .................................................................................................45
30.4 AGILE VS WATERFALL (COMPARISON LOGIC)................................................................................45
30.4.1 WATERFALL.............................................................................................................................. 45
30.4.2 AGILE ...................................................................................................................................... 45
31 SCRUM SOFTWARE DEVELOPMENT.......................................................................................46
31.1 WHAT IS SCRUM? ..................................................................................................................46
31.2 SCRUM STRUCTURE ................................................................................................................46
31.3 SCRUM ROLES .......................................................................................................................46
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31.3.1 PRODUCT OWNER ..................................................................................................................... 46
31.3.2 SCRUM MASTER ....................................................................................................................... 46
31.3.3 DEVELOPMENT TEAM ................................................................................................................ 47
32 USER STORIES .......................................................................................................................47
32.1 WHAT IS A USER STORY?..........................................................................................................47
32.2 USER STORY ELEMENTS............................................................................................................47
32.2.1 USER STORIES ........................................................................................................................... 47
32.3 SPLITTING USER STORIES ..........................................................................................................47
32.3.1 EVERY STORY MUST ................................................................................................................... 47
32.4 INVEST CRITERIA...................................................................................................................47
32.5 ACCEPTANCE CRITERIA ............................................................................................................48
32.5.1 USED FOR ................................................................................................................................ 48
33 ESTIMATING WORK IN SCRUM ..............................................................................................48
33.1 STORY POINTS .......................................................................................................................48
33.2 VELOCITY .............................................................................................................................48
34 LEAN START-UPS ...................................................................................................................48
34.1 LEAN PHILOSOPHY ..................................................................................................................48
34.2 LEAN START-UP LOGIC ............................................................................................................49
34.3 MINIMUM VIABLE PRODUCT (MVP) .........................................................................................49
35 OTHER SOFTWARE DEVELOPMENT LIFECYCLES .....................................................................49
35.1 MAIN CATEGORIES .................................................................................................................49
36 TRADITIONAL PROJECT MANAGEMENT METHODOLOGIES ....................................................49
36.1 PMBOK (PMI) .....................................................................................................................49
36.2 PRINCE2 .............................................................................................................................49
37 PROJECT ORGANIZATION & PLANNING .................................................................................50
37.1 PROJECT ROLES .....................................................................................................................50
37.2 PROJECT PLANNING ................................................................................................................50
37.2.1 CRITICAL PATH .......................................................................................................................... 50
38 ARTIFICIAL INTELLIGENCE & ROBOTICS .................................................................................50
38.1 CENTRAL QUESTIONS OF SESSION 07..........................................................................................50
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39 OMNIPRESENCE OF AI ...........................................................................................................50
39.1 AI AS PART OF EVERYDAY DIGITAL LIFE ........................................................................................50
39.2 AI IN INDUSTRY 4.0 — STARA .................................................................................................51
39.3 DIGITAL INCLUSION AND DIGITAL DIVIDES ....................................................................................51
39.4 TYPES OF DIGITAL DIVIDES ........................................................................................................51
39.5 EMERGING AI DIVIDE ..............................................................................................................52
39.6 AUTOMATION IN HISTORICAL PERSPECTIVE ..................................................................................52
40 TECHNOLOGY PASSPORT — HOW IS AI USED? ......................................................................52
40.1 WHAT IS ARTIFICIAL INTELLIGENCE .............................................................................................52
40.1.1 ORIGINAL MEANING (+/- 1955) .................................................................................................. 52
40.1.2 TODAY’S MEANING .................................................................................................................... 52
40.1.3 FORMAL DEFINITION .................................................................................................................. 52
40.2 TWO KEY AXES TO UNDERSTAND AI ............................................................................................52
41 LEARNING APPROACHES IN AI...............................................................................................53
41.1 MACHINE LEARNING (ML) .......................................................................................................53
41.2 SUPERVISES LEARNING ............................................................................................................53
41.3 UNSUPERVISED LEARNING ........................................................................................................53
41.4 REINFORCEMENT LEARNING......................................................................................................53
42 AI METHODS AND TECHNIQUES ............................................................................................54
42.1 FROM STATISTICS TO DEEP LEARNING..........................................................................................54
42.1.1 AANS ..................................................................................................................................... 54
42.2 DEEP LEARNING .....................................................................................................................54
42.3 CONCEPTUAL HIERARCHY .........................................................................................................54
43 AI APPLICATION AREAS .........................................................................................................54
43.1 FOUNDATION MODELS & GENERATIVE AI ....................................................................................54
43.2 PROMPT ENGINEERING ............................................................................................................55
44 TECHNOLOGY PASSPORT — WHAT IS AI USED FOR?..............................................................55
44.1 CURRENT APPLICATIONS ..........................................................................................................55
44.2 CHATBOTS, COPILOTS & GENERATIVE AI......................................................................................55
44.3 ROBOTICS.............................................................................................................................56
44.4 FUTURE APPLICATIONS ............................................................................................................56
45 TECHNOLOGY PASSPORT — HOW TO PREPARE FOR AI? ........................................................56
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45.1 REQUIRED SKILLS....................................................................................................................56
45.2 HUMAN-ROBOT COLLABORATION ..............................................................................................56
45.3 IMPACT ON EDUCATION ...........................................................................................................57
46 TECHNOLOGY PASSPORT — SUSTAINABLE AI ........................................................................57
46.1 SECURITY CONCERNS ...............................................................................................................57
46.2 ETHICAL CONCERNS ................................................................................................................57
46.3 INCLUSION CONCERNS .............................................................................................................57
46.4 ENVIRONMENTAL CONCERNS ....................................................................................................57
47 CASE PASSPORT — CNH INDUSTRIAL ....................................................................................57
47.1 CASE CONTEXT.......................................................................................................................57
47.2 PLANNING ............................................................................................................................57
47.3 REALIZATION.........................................................................................................................58
47.4 EVALUATION .........................................................................................................................58
47.5 LESSONS LEARNED ..................................................................................................................58
48 RECAP ...................................................................................................................................58
49 INTERNET OF THINGS (IOT) ...................................................................................................58
49.1 CENTRAL QUESTIONS ..............................................................................................................58
50 WHY THIS TECHNOLOGY ICON? .............................................................................................58
51 TECHNOLOGY PASSPORT — HOW IS IOT USED? ....................................................................59
51.1 DEFINITION OF IOT .................................................................................................................59
51.2 IOT DEVICE TYPES ..................................................................................................................59
51.3 PRIVATE IOT EXAMPLES ..........................................................................................................59
51.4 PROFESSIONAL IOT EXAMPLES ..................................................................................................59
51.5 CONNECTING PHYSICAL AND DIGITAL WORLDS .............................................................................60
51.6 SYNERGY WITH AI ..................................................................................................................60
51.7 KEY TERMINOLOGY.................................................................................................................60
51.7.1 INDUSTRIAL IOT (IIOT) ............................................................................................................... 60
51.7.2 CYBER-PHYSICAL SYSTEMS (CPS) ................................................................................................. 60
51.7.3 CLOUD COMPUTING ................................................................................................................... 61
51.7.4 SMART IOT APPLICAION AREAS .................................................................................................... 61
52 TECHNOLOGY PASSPORT — WHAT IS IOT USED FOR? ...........................................................61
52.1 CURRENT APPLICATIONS ..........................................................................................................61
52.2 FUTURE APPLICATIONS ............................................................................................................61
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53 TECHNOLOGY PASSPORT — HOW TO PREPARE FOR IOT? ......................................................61
53.1 REQUIRED SKILLS ...................................................................................................................61
53.1.1 GENERAL ................................................................................................................................. 61
53.1.2 HARDWARE ENGINEERS .............................................................................................................. 62
53.1.3 SOFTWARE ENGINEERS ............................................................................................................... 62
53.2 IMPACT ON EDUCATION ..........................................................................................................62
54 TECHNOLOGY PASSPORT — SUSTAINABLE IOT ......................................................................62
54.1 SECURITY CONCERNS ..............................................................................................................62
54.2 ETHICAL CONCERNS ................................................................................................................62
54.3 INCLUSION CONCERNS (DUAL NATURE) ......................................................................................62
55 CASE PASSPORT — IOT AT ATLAS COPCO ..............................................................................63
55.1 CASE CONTEXT ......................................................................................................................63
55.2 STRATEGIC ALIGNMENT ...........................................................................................................63
55.3 PLANNING THE IOT INITIATIVE...................................................................................................63
55.3.1 THREE IOT PILLARS .................................................................................................................... 63
55.3.2 ORGANIZATIONAL SETUP ............................................................................................................ 63
55.4 REALIZATION.........................................................................................................................63
55.5 STAKEHOLDER REACTIONS........................................................................................................64
55.6 SECURITY MANAGEMENT.........................................................................................................64
55.7 EVALUATION .........................................................................................................................64
55.7.1 CUSTOMER OUTCOMES .............................................................................................................. 64
55.7.2 PERFORMANCE OUTCOMES ......................................................................................................... 64
55.7.3 FUTURE STEPS........................................................................................................................... 64
56 LESSONS LEARNED FROM THE CASE ......................................................................................64
57 WRAP-UP ..............................................................................................................................65
57.1 KEY PERSPECTIVES ..................................................................................................................65
58 CENTRAL QUESTION ..............................................................................................................66
58.1 TEASER QUESTION () ...............................................................................................................66
59 TECHNOLOGY PASSPORT — HOW IS VR-AR USED? ................................................................66
59.1 DEFINITION...........................................................................................................................66
59.1.1 VIRTUAL REALITY (VR) ............................................................................................................... 66
59.1.2 AUGMENTED REALITY (AR) ......................................................................................................... 66
59.2 CONCEPTUAL DIFFERENCE ........................................................................................................66
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