Understanding the Digitalisation in Business

Introduction

Digitalization has been a hot topic of conversation in recent years. Although the "hype" around the term has settled down a bit, there are still gains to be made by adopting digital technologies to strengthen value-added processes in all types of businesses. Technology is developing inexorably – today, for example, artificial intelligence can answer certain types of exam questions just as well as the average student. This development means that you will never be a business "fully digitized" - the digital transformation is very much an ongoing process.

Although the development of technology may seem almost like magic to us humans, all digital technologies are (so far) man-made systems, most often developed for a specific purpose and with clear uses and limitations. By familiarizing yourself with digital technologies at an overall level, one can get a clearer picture of how they can contribute to value creation and benefits for a company's employees, owners and customers.

The course provides an overall understanding of how different digital technologies and data interfere with business value creation. We address how businesses can use data and digital technologies as resources to promote profitability and competitive advantage and how increased levels of interaction internally and externally affect strategic thinking, corporate communication, marketing, and innovation. We also look at how businesses can facilitate that the measures within digitalization are also implemented and not just planned.

Course content

• The digital community: big data, the cloud, and the Internet of Things
• Digital economy, transaction costs, and network effects
• Technology-supported value creation
• How business models and business development are driven by data and digital technologies
• Artificial intelligence and machine learning
• Business systems, system architecture, and technical debt
• The gain perspective; governance gains, rationalization gains, organizational gains, market gains
• Digital Business Strategy
• Strategic anchoring of digitalization initiatives
• Business intelligence and information structuring for analysis
• Safety, law, and ethics