- 3 Marks
Question
Explain the term ‘digital firm’.
Answer
A digital firm is an organization in which all key business processes, relationships with customers, suppliers, and employees are digitally enabled and supported by information technology. The core business operations, including production, management, and communication, are carried out through digital means. This allows the firm to operate efficiently with real-time data, integrating systems across the company and enabling faster decision-making, more effective communication, and improved service delivery.
- Tags: Business Processes, Digital Firm
- Level: Level 1
- Topic: Electronic Business and E-Commerce
- Series: MAY 2022
- Uploader: Kwame Aikins