absorptive capacity - answer An organization's ability to recognize the value of new
information, embed it into an existing knowledge system, and apply it to achieve the
intended business outcomes.
business case - answer A justification for the expenditure of organizational resources,
providing information about costs, benefits, options, risks, and issues.
business model - answer A formal description of how an organization should be
configured to create value for customers based on its strategy.
business strategy - answer How an organization defines and achieves its purpose
communication technology - answer Technology that enables information technology
(IT) and operational technology (OT) to be highly mobile and accessible to
organizations, consumers, and other stakeholders.
compliance - answerBoth the act and result of ensuring that a standard or set of
guidelines is followed, or that proper, consistent accounting or other practices are being
employed.
critical success factor - answerA necessary precondition for the achievement of
intended results.
customer journey - answerThe complete end-to-end experience that service customers
have with one or more service providers and/or their products through touchpoints and
service interactions.
cybersecurity risks - answerRisks of exposure or loss for an organization resulting from
a cyber-attack or a data breach.
demand - answerInput to the service value system based on opportunities and needs
from internal and external stakeholders.
digital business - answerActivities that use digital technology, enabling an organization
to fulfil its purpose.
digital disruption - answerA fundamental shift in an organization's operation caused by
the development of digital technology.
, digital organization - answerAn organization that is enabled by digital technology to do
business significantly differently, or to do significantly different business.
digital strategy - answerA business strategy that is based all or in part on using digital
technology to achieve its goals and purpose.
Digital technology - answerAny technology that digitizes something or processes digital
data. It encompasses information technology (IT) and the parts of operational
technology (OT) that have been digitized.
digital transformation - answerThe use of digital technology to enable a significant
improvement in the realization of an organization's objectives that could not feasibly
have been achieved by non-digital means.
digitization - answerThe process of transforming something (e.g. text, sound, or images)
from analogue to digital form by expressing the information in binary digits.
discontinuous innovation - answerAn innovation that completely replaces what came
before.
disruption risks - answerRisks that can disrupt the organization's operating or business
model.
ecosystem disruption - answerDisruption that occurs when digital technology introduces
a change that impacts organizations across multiple industries and markets.
employee fulfilment - answerThe feeling that people have when their work aligns with
their intrinsic motivation and provides them with a sense of purpose.
engagement risks - answerRisks that originate from an organization's stakeholders,
including its suppliers and partners, consumers, and employees.
governance - answerThe means by which an organization is directed and controlled.
indicator - answerA metric that is used to assess and manage something.
industry disruption - answerDisruption that occurs when digital technology introduces a
change that impacts a specific industry or a group of related industries.
Information Technology - answerApplication of digital technology to store, retrieve,
transit, and manipulate data. IT exists as information systems that consist of hardware,
system software, data, and applications that are used for the purpose of data
processing.
innovation - answerThe adoption of a novel technology or way of working that has led to
the significant improvement of an organization, product, or service.
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