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GD320 – Digital Business Tools and Digital Business Development

Master of Science in Financial Services

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Elective Course

GD320 – Digital Business Tools and Digital Business Development

Course Unit Code: GD320

Type Of Unit: Core

Level of Course Unit: Second cycle

Year of Study: First/second year

Semester: On demand

Number of ECTS Credits: 6

Class Contact Hours: 28

Mode of Delivery

Face to Face

Prerequisites

None

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The business world is rapidly digitalizing, breaking down industry barriers and creating new opportunities while destroying long-successful business models. Organisations need to create new business options for the more- connected future of digital ecosystems. Recent research shows that companies that had 50% or more of their revenues from digital ecosystems and understood their end customers better than their average competitor saw 32% higher revenue growth and 27% higher profit margins than their industry averages (Weill & Woerner, 2015). The digital economy is transforming the way people work and the skills they need at work. This represents a major challenge for employers, workers and public authorities. Digital business development refers to an organization’s leverage of digital capabilities and aligned strategic, marketing, and sales activities to approach the market and customers, and enable value-creating growth. The main objectives of this course are to foster data-driven culture and equip students with in-depth knowledge of digital business tools. Students will also learn how to develop business models that support a company’s strategic objectives, be able to integrate appropriate information and other technologies, both existing and emerging, in developing business processes and business models. Learning in this course will be reinforced by practical application opportunities via case studies.

Learning Outcomes

  • Use business process mapping tools, develop new or improved innovative business processes in support of a company’s strategic objectives in a socially responsible manner.
  • Examine the internal capabilities necessary to recognize the potential commercial value of digital technology emerging in the external environment and assess which digital tools should be used for each function of business.
  • Employ digital business tools, foster data-driven culture, and continuously learn and adopt new technological tools.
  • Demonstrate in-depth knowledge of new business models and delineate what strategies can companies employ to move from traditional business models to creating a digital ecosystem and invest in knowing their end customers.

Content Introduction to business process mapping tools. CILO 1

How to develop new or improved innovative business processes from gap analysis through process design in support of a company’s strategic
objectives in a socially responsible manner.
Assessment of the business competitive environment and the internal capabilities necessary to recognize the potential commercial value of digital technology emerging in the external
environment. Assessing which digital tools should be used for each function of business. CILO 2
Categories of digital business tools:

– Business web presence, such as online directory listings, websites, and mobile apps
– Social media for customer engagement, sales, marketing, or other business purposes
– Data analytics to gain customer insights or inform business decisions
– E-commerce and online scheduling capabilities via their own websites or third-party platforms
– Online advertising, including ad banners on websites, social media advertising, and search engine marketing and optimization
– Internal productivity tools that improve internal business processes, such as cloud-based software, video conferencing, and corporate social networks. CILO 3
Learning specific digital skills such as for example:

– Collaborative tools (messaging, emailing, common shared drives, common shared spreadsheets) – either Google Sheets or Office 365 (Online)
– Payments electronically and associated tools
– DocuSign for signing Documents
– Visualisation tools
– Big data: Apache Spark and hadoop. This is for large scale and distributed computations and analytics.
– Code hosting platform: GitHub
– Website development, Mobile app development: Java, Javascript, CSS
– Artificial intelligence (AI)/Machine learning/neural networks: Scikit, PyTorch, TensorFlow, Keras. Speech recognition for dictation. Natural language computing, e.g., automatic translation between languages.
– Edge computing, IoT

This list may be adjusted to include other digital tools so as to stay up to date with technology development. CILO 3
Fostering tech-driven and data-driven culture.
Continuous professional learning, selecting and adopting new technological tools. CILO 3
Four business models for the digital era (based on
the MIT article). CILO 4

Case study analysis and group work.

Course Features

Assessment methods and criteria
10% Class Participation
20% Group Work in class (case studies)
70% Final Assignment

Readings

Lectures, articles, case studies, reports, and other course materials are available via CIIM Moodle.

Recommended reading:

1. EU Report (2021, March 9). ICT for Work: Digital Skills in the Workplace. https://digital-strategy.ec.europa.eu/en/library/ict-work-digital-skills- workplace

2. The Wall Street Journal (2017, June 21). Digital Tools a Boon to Small Business. https://deloitte.wsj.com/cio/2017/06/21/digital-tools-a-boon-to- small-businesses/

3. Weill, P. & Woerner, S. (2015, July 1). Thriving in an Increasingly Digital Ecosystem. MIT Sloan Management Review, V. 56 (4). https://hbsp.harvard.edu/product/SMR531-PDF- ENG?Ntt=digital%20business%20models

4. Rogers, D. (2016). The Digital Transformation Playbook: Rethink Your Business for the Digital Age. Columbia Business School Publishing.

5. John Hopkins Carey Business School – Science of Digital Business Development Initiative. https://carey.jhu.edu/partnerships/science-digital- business-development-initiative

6. The Modern Entrepreneur (n.d.) Digital Business Tools. https://www.themodernentrepreneur.com/business-tools/

7. Digital tools for business: Find digital tools and software to help you connect with customers and employees (by the Australian Gov’t). https://business.gov.au/online/digital-tools-for-business

8. 10 Essential Tools to Support Your Digital Transformation https://www.lumapps.com/solutions/digital-transformation/digital- transformation-tools/

Planned learning activities and teaching methods
Lectures; in-class discussion and debates; in-class exercises; problem sets; team work; case studies, team presentations, interactive online learning via Moodle (quizzes, assignments, forums)

Language of Instruction
English

Work Placement(s)
Not applicable

Call Center

CYPRUS

GREECE

INTERNATIONAL

Request Information Request Information ⟶

Informed Consent Form

Dear Participant,

You are invited to participate in a survey as part of the DiFiCy – Digital Transformation and FinTech: Shaping Cyprus’s Economy research project which is implemented by the University of Limassol, PwC Cyprus and Unity Growth Limited.

The project is co-funded by the European Union within the framework of the Cohesion Policy Programme “THALIA 2021-2027” through the Research and Innovation Foundation (RIF) in Cyprus [Pr. number: EXCELLENCE/0524/0568].

The study has been approved by the National Bioethics Committee of Cyprus (Approval no.: EEBK EΠ 2025.01.19 )

This project explores digital transformation and FinTech adoption in Cyprus, with a particular focus on SMEs and the broader business ecosystem. It uses a mixed-methods research design, combining survey data with interviews and case study evidence to generate evidence-based insights for policymakers and businesses.

Before deciding whether to participate, please read the following information carefully.

Purpose of Participation

The purpose of this research is to better understand the drivers, challenges, and impacts of digital transformation and FinTech adoption in Cyprus. The findings aim to support evidence-based policymaking, strengthen business practices, and contribute to innovation and economic development.

Your participation involves the following:

Completion of this survey, which takes approximately 15 minutes.

Invitation to take part in an optional interview.

Contribution to a case study or discussion session at a later stage.

Your participation is entirely voluntary, and you are free to decline or withdraw at any time without any consequences.

If you wish to withdraw from the study after submitting your responses, you may do so by contacting the Project Coordinator.

Data Confidentiality and Usage

All data collected will be handled in strict accordance with the General Data Protection Regulation (GDPR) and Cyprus Data Protection Law (125(I)/2018).

Your data will be treated confidentially, pseudonymised and anonymised, and no personally identifiable information will be disclosed. Data will be securely stored and accessed only by authorised members of the research team. In some cases, qualitative data may be processed using machine learning techniques, such as keyword identification or pattern detection, strictly to support analysis; however, all interpretation and conclusions will be made by the researchers.

Aggregated and anonymised findings derived from the data (e.g., statistical summaries, graphs, and thematic insights) may be used for dissemination activities, including scientific publications, policy reports, infographics, and training materials. These outputs will not contain any information that could directly or indirectly identify participants or their organisations.

Anonymised data may be shared publicly after a 24-month embargo period, while raw or sensitive data will not be publicly available. Access to raw or sensitive data will be granted only upon justified request and consortium approval.

Your participation in this study does not involve any risks.

On the contrary, your contribution may help improve digital and FinTech policies, support SME development and innovation strategies, and enhance the overall business environment in Cyprus.

Contact Information

If you have any questions, concerns, withdraw requests or complaints, please contact the Project Coordinator, Dr. Snezana Eminidou. Please include “DiFiCy Survey” in the subject line.

Email: snezana@uol.ac.cy

Phone number: +357 22462228

Partnership:

Thank you for your valuable contribution to this research.

The project is co-funded by the EU within the framework of the Cohesion Policy Programme “THALIA 2021-2027” through the Research and Innovation Foundation. [Pr. no. EXCELLENCE/0524/0568]. The content reflects the views of the author(s) only. The European Commission and the Managing Authority of THALIA 2021–2027 cannot be held responsible for any use which may be made of the information contained therein.