SMART: Created page with "{{DISPLAYTITLE: Business Models in the Digital Economy}} == Business Models in the Digital Economy == The world's largest "taxi" company owns no vehicles (Uber) The largest..."

2019-01-30T10:56:21Z

Created page with "{{DISPLAYTITLE: Business Models in the Digital Economy}} == Business Models in the Digital Economy == *The world's largest "taxi" company owns no vehicles (Uber) *The largest..."

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{{DISPLAYTITLE: Business Models in the Digital Economy}}
== Business Models in the Digital Economy ==
*The world's largest "taxi" company owns no vehicles (Uber)
*The largest phone companies owns no telecommunication infrastructure (Skype)
*The most popular media owner creates no content (Facebook)
*The world's most valuable retailer has no inventory (Alibaba)
*The world's largest accommodation provider owns no real estate (Airbnb)
*Fastest growing banks have no actual money (SocietyOne)
*Largest movie house has no cinemas (Netflix)
*Largest software/app vendors doesn’t write the apps (Apple and Google)
*Fast growing currency in the world has no political or national boundaries (Bitcoin)

=== The Fourth Industrial Revolution ===

<blockquote><em>“We stand on the brink of a technological revolution that will fundamentally alter the way we live, work and relate to one another. In it scale, scope, and complexity, the transformation will be unlike anything humankind has experienced before“</em></blockquote>

When robotics, 3D printing, data analytics, the Internet of Things, and digital fabrication are joined together, they integrate the physical and virtual worlds. The Internet of Things is ground zero for a new phase of global transformation powered by technology, generating significant economic opportunities and reshaping industries.

=== Emerging Mega Trends: The Underlying Forces & Drivers ===

[[File:The Game Changer.png|thumb|800px|Figure 1: The Underlying Forces & Drivers.]]

=== The 4th Industrial Revolution Defies Outdated Business Models ===

[[File:Defies Outdated Business Models.png|thumb|800px|Figure 2: The 4th Industrial Revolution Defies Outdated Business Models.]]

=== How the Industrial Internet Affects the GDP ===

[[File:How the Industrial Internet Affects the Global Economy.png|thumb|800px|Figure 3: How the Industrial Internet Affects the GDP.]]

=== Adoption of Industry 4.0 by Sector ===
'''Question:''' How would you classify the current level of digitalization and integration
in operations, supply chain and related activities in your company? What levels
are you expecting in the next 5 years?

[[File:Adoption of Industry 4.0 by Sector.png|thumb|800px|Figure 4: Adoption of Industry 4.0 by Sector.]]

=== Major Challenges & Risks ===
*Lack of vision and leadership.
*Lack of understanding of values among management or C-level executives.
*Lack of proven business models (e.g. outcome-based revenue sharing or profit sharing).
*Rapid evolution of the technology causing companies to delay large investments.
*Requiring heavy upfront capital investment.
*Requiring business process change.
*Not enough awareness about the current state of technology.
*Inadequate infrastructure.
*Lack of application development tools.
*High cost of sensors.

=== Key Barriers in Adopting Industry 4.0 ===
'''Question:''' What are the greatest barriers inhibiting businesses from adopting Industry 4.0?

[[File:Key Barriers in Adopting Industry 4.0.png|thumb|800px|Figure 5: Key Barriers in Adopting Industry 4.0.]]

=== Risks of Adopting Industry 4.0 ===
'''Question:''' How likely are the following risks or negative consequences associated with Industry 4.0?

[[File:Risks of Adopting Industry 4.0.png|thumb|800px|Figure 6: Risks of Adopting Industry 4.0.]]

=== How Enterprise Standards are applied to leverage Industry 4.0 ===

<blockquote><em>'''Establish clarity, focus and accountability to capitalize on increasing complexity and digitization opportunities!'''</em></blockquote>

Todays organizations are required to apply reusable standards and based on reference content to structure their way of thinking, working, modelling and implementing, but they '''don't know how to do it or where to start'''.

Standards and reference content should be applied to:

*'''Best Practices''' - to improve and standardize the non-core competencies with a focus on the Cost Model and the Operating Model.

*'''Industry Best Practices''' - to improve competitive parity and standardize core competitive competencies with a focus on the Performance Model and the Service Model.

*'''LEADing Practices''' - to define and strengthen competitive advantage, innovation and efficiency in the core differentiating competencies with a focus on the Revenue Model and the Value Model.

[[File:Business & Technology.png|thumb|800px|Figure 7: How Enterprise Standards are applied to leverage Industry 4.0.]]

[[Category: SMART City]]

SMART City KM:Business Models in the Digital Economy - Revision history

SMART: Created page with "{{DISPLAYTITLE: Business Models in the Digital Economy}} == Business Models in the Digital Economy == *The world's largest "taxi" company owns no vehicles (Uber) *The largest..."

SMART: Created page with "{{DISPLAYTITLE: Business Models in the Digital Economy}} == Business Models in the Digital Economy == The world's largest "taxi" company owns no vehicles (Uber) The largest..."