Concepts - 2022 Flashcards
Circular Economy
- Economic system : - Circular - Continual use of resources (circulate); eliminate waste
Not just product & sell (take-make-dispose), but also promote Re-use/Re-purpose/Repair/Share/Recycle to drive environmental & social sustainability in a profitable manner
Increased asset utilization / productivity
E.g. Clothing Rental Startups, Take Back programs; Furniture Industry
NFT (Non-fungible Tokens)
Unique identifiers for digital items
Digital files are reproducible but not ownership - ownership is tracked by NFTs representing the digital files on underlying blockchain platforms (Ethereum platform is popular for NFTs)
Beeple - Everydays — The First 5000 Days - USD 69M
Citizen Developer
Use existing tech to solve their problems - something efficient for themselves (Low-code/No-code tools)
Innovation Diffusion Lifecycle
True innovation - people laugh
Innovators (2.5%), Early Adopters (aligned to beliefs) - (12.5%), Early Majority (35%), Late Majority (35%), Laggards (15%)
Need 15-18% penetration, that is the tipping point
Crossing the chasm - focus on penetrating the early adopters
Create demand / pull - (special club first, then others…make it little difficult to join e.g. Saturday)
Applicable on How to Make a Cultural Transformation
- Idea is ridiculous / outlandish
- Everything will change versus nothing changes
Revenue assurance
(plug revenue leakages e.g. invoice price different from contract price, when being looked at manually; for service industries - standard pricing not being used; out of scope work not being billed, etc.) - typically need a cross-functional effort to plug it
BCG DV - Improve the odds
1 in 3 success rate versus industry success rate of 1 in 10
Aristotle’s Four Causes
Aristotle’s four causes explain the Why?
Material cause (matter) - that out of which it is made
Efficient cause (agent) - source of the objects principle of change or stability
Formal cause (form) - essence of the object
Final cause (purpose) - end / goal of the object; or what the object is good for
Productization
Needs to be done persistently, cannot be a one time activity
Disruptive Business
New products / solutions / marketplaces
New types of transactions - new users who were not participating in the market (non-producers & non-consumers)
“Create money out of nowhere”
Hurdles:
- Asymmetric information
Solutions:
- Smaller supply units (lower cost)
- Bundles
- New suppliers
- Trust wrappers
Computer Vision
Image classification / object recognition»_space; Cat
E.g. Face recognition
(a) Register
(b) Recognize
Object Detection
E.g. self-driving car
(a) Detect
(b) Position
Image Segmentation
Precise boundaries instead of drawing just rectangles (in x-rays very useful)
Tracking (for Video)
E.g. Objects (Wildlife tracking)
NLP
Text Classification
E.g. Email»_space; Spam / Non-spam
E.g. Product description»_space; Product Category
Sentiment recognition»_space; Read Restaurant review – to assign ratings
Information retrieval
E.g. Web search
Name entity recognition (in a sentence)
E.g. People Names, Venue names
Others: Parsing, part-of-speech tagging (e.g. Determiners – then, an, Noun, etc.)
E.g. Parsers to construct a sentence
Speech to text
Speech – variations in air pressure versus time
E.g. Speech recognition (speech-to-text)
E.g. Trigger word / wake word detection…
E.g. Speaker ID (voiceprint)
E.g. Speech synthesis (text-to-speech, TTS)
Culture eats strategy for breakfast
Successful execution of strategy is a function of organization culture
Org. Culture - Operationalization of a company’s values….good culture creates a coherence in how actions are taken by a diverse group of employees
Org. culture -
- How do people respond to hard situations,
- make decisions,
- what behaviors are incentivized, rewarded etc.
It has an out-sized impact on strategy. So make sure people buy the vision, have a sense of purpose
Lou Grestner IBM - I came to see in my time at IBM that culture isn’t just one aspect of the game – it is the game. In the end an organization is nothing more than the collective capacity of its people to create value.
Culture eats strategy for breakfast, technology for lunch, and products for dinner, and soon thereafter everything else too
Multi stakeholder Capitalism
Look beyond the interests of Shareholders»_space; Employees, Society, Government….Need tangible, system-level frameworks to transition to sustainable markets
OKRs - Objectives & Key Results
Practice borrowed from Intel; Pioneered by Google
Objectives - what you want to accomplish
Key results - quantitative metrics for measurement (secret sauce)
OKRs can serve multiple purposes:
- Lay down the strategic path to achieve a goal e.g. Increase usage can be via supporting new devices, platforms, reducing existing friction, improving content, etc.
- As a communication device to explain the strategy to everyone
Company level - should have 3-5 OKRs
OKRs should be ambitious - typical achievement rate of 0.7
Typically done on a quarterly basis
Platform Engineering
Why? Provide an enhanced experience to developers, make reusable, standard services available, reduce development time
What? Material - DevOps toolset, Application Monitoring,
What? Form -
How?
