Business Models and Digital Transformation

According to a Harvard Business School research paper, a substantive definition of the ‘business model’ is a collection of decisions enforced by the authority of the firm on its employees. There are two aspects of a business model – the internal constitution of the firm and the firm’s external alignment – and these are the result of the different degrees of authority a firm has over its employees as opposed to other market actors. A firm may make a variety of decisions regarding either its internal constitution or the types of transactions it facilitates. Conceiving of a business model in this way has a variety of benefits, including the ability to analyze discrete firm choices, according to the paper. According to a recent survey conducted by Harvard Business Review Analytic Services, 95% of global executives said digital transformation has grown in importance in their industry over the past 12 months; 90% said Covid-19 has accelerated the timing of their organization’s transformation efforts. This course provides an outlook for the digital business opportunities and covers the complete primer and execution of digital transformation. The course emphasizes upon the core digital marketing concepts and strategy and sets a foundation for learners in terms of applying a design thinking approach, a formal creative problem-solving method based on the application of the mindsets and tools of designers to the business context (Dewett, 2007; Brown, 2008).

Course Learning Objectives:

  • Review digital business models and understand a suitable digital business model for your business.
  • Learn the fundamentals of design thinking approach and its principles and understand the process of designing a product using a design thinking approach.
  • Familiarize yourself with the basics of digital transformation concepts with industry examples.
  • Learn the concepts, frameworks, and tools required for you to kick-start your digital marketing efforts.

Faculty

Prof Neo Kok Beng

Prof Neo Kok Beng

Adjunct Associate Professor, National University of Singapore

Prof Neo Kok Beng is an award-winning technology entrepreneur and a venture catalyst specializes in the technology commercialization of research and inventions from universities and research institutes into high-growth and highly scalable companies. His innovative “global-oriented ventures” have harnessed numerous international and local awards; including the President’s Design Award (2014), NUS Promising Startups (2013) and the US Government for Innovation Initiative (2012). He is currently an adjunct associate professor at NUS and is faculty for innovations at Harvard, Stanford and Tsinghua universities. He has successfully licensed its product to international companies, and have achieved more than USD100 million valuations for his portfolio. Has a build up a portfolio of highly-scalable and global companies with deep-science in the areas of Biomedical, Financial and Space technologies – through its unique acceleration program that is “Global- Business & World-Class” in approach.

Syllabus

Learning Objectives:
  • Review digital business models and understand a suitable digital business model for your business.
Module Components:

Video Lectures:

  • Clarifying the Digital Business Opportunity
  • Defining the Digital Value Proposition
  • Examples of Digital Business Models

Readings:

  • Digital-First: The Essential Modern Business Mindset
  • Growth of the Sharing Economy by PwC
  • Freemium Business Model
  • Designing a Business Model for the Digital Economy

Quiz:

  • Digital First Business Models 

     

     

     

     

Learning Objectives:
  • Learn the fundamentals of design thinking approach and its principles and understand the process of designing a product using a design thinking approach.
Module Components:

Video Lectures:

  • Design Thinking and Its Importance
  • Benefits, Limitations, and Use Cases of Design Thinking

Readings:

  • Design Thinking Principles: Desirability, Viability, Feasibility
  • Design Thinking Process in Detail
  • Design Thinking in Practice: Building Design Sprints

Quiz:

  • Design Thinking 

     

     

     

     

     

     

Learning Objectives:
  • Familiarize yourself with the basics of digital transformation concepts with industry examples.
Module Components:

Video Lectures:

  • Digital Transformation : Creating An Operational Backbone
  • Digital Transformation : Creating A Digital Services Backbone

Readings:

  • Digital transformation: A Primer
  • Digital Transformation and the Subscription Model
  • Unlocking Success In Digital Transformations
  • Example: Digital Transofrmation within Manufacturing Industry

Quiz:

  • Digital Transformation 

     

     

     

     

     

     

Learning Objectives:
  • Learn the concepts, frameworks, and tools required for you to kick-start your digital marketing efforts.
Module Components:

Video Lectures:

  • Rethinking the Marketing Funnel
  • Influencing Customer Networks
  • The Five Levers of Digital Marketing Transformation
  • The 4Ps of Digital Marketing Strategy
  • Optional: L’Oréal’s Digital Marketing Strategy Example
  • How To Measure Digital Marketing Performance
  • What is Search Engine Marketing?
  • Mapping the Digital Customer Journey
  • What is A/B Testing?
  • What is Retention Marketing?
  • Cohort Analysis in Retention Marketing
  • Creating a Social Media Strategy

Readings:

  • The Latest Internet Trends
  • Digital Consumer Trends 2021
  • Key Steps to Guide Your Digital Transformation Journey
  • Digital Marketing Metrics That Matter
  • Digital Marketing Strategy Formulation Tool
  • Understanding the Basics of Search Engine Optimization
  • Creating a Customer Journey Map
  • Social Media Metrics That Matter

Quiz:

  • Digital Marketing 

     

     

     

     

     

     

     

     

     

     

     

     

     

     

Support

Please email support@northwest.academy for any support required with respect to the program, course or platform.