CIMA E2 Syllabus A. Business models and value creation - Digital Disruption - Notes ^{2 / 8}

1. If an organisation is not already digital, it's too late

2. Becoming a digital organisation is an administrative exercise

3. Digital transformation can simply be achieved by creating a new unit and appointing a Chief Digital Officer

The consultancy group ‘Accenture’ wrote a report called ‘Accenture Technology vision’ which highlighted five emerging trends that were shaping the digital landscape for organisations and which business leaders should focus on when developing their digital strategies.

They are:

1. The Internet of Me - main focus is on the customer experience

2. The outcome economy - focus on outcome rather than just the product

3. The platform (r)evolution - rate of evolution keeps on increasing because of the global platforms

4. The intelligent enterprise - using data in a smart way helps with innovation and improves efficiency

5. The workforce reimagined - roles of employees are changed so that they can work effectively with machines

There are 3 steps to cause digital disruption in existing business models:

1. Innovate on the periphery

2. Hire digital-savvy individuals

3. Copy successful firms

Health services and Financial services are the biggest growth sectors for disruptive technology.