Scavenger Hunt 1 Flashcards
Disruption
To cause (something) to be unable to continue in the normal way : to interrupt the normal progress or activity of (something)
Technology is a disruptor: what does that mean?
changed the way something has normally been done; creates treasure and tumult
Video Rentals: What was the normal way of doing business?
What was the tech change?
What was the treasure outcome for some and what was the tumult outcome for others?
normal way was going to the store to rent movies
tech change was netflix beginning to sell their dvd movies through a website
the treasure was easier process to watch movies
tumult was blockbuster gets shut down
tech change 2 was netflix becoming a streaming platform
Music Industry: What was the normal way of doing business?
What was the tech change?
What was the treasure outcome for some and what was the tumult outcome for others?
normal way was selling vinyl, casset, or cds in stores
tech change was digital music
treasure was customers being able to purchase music immediately w any songs wanted
tumult was piracy of music made the industry decline
Higher Education: What was the normal way of doing business?
What was the tech change?
What was the treasure outcome for some and what was the tumult outcome for others?
normal way was leave home to go to professor to learn
tech change was online courses
treasure was easier, cheaper way t get an education
catalyst was covid 19 and the push to either return or avoid previous ways
Define share economy
Asset owners use digital clearinghouses to capitalize their unused capacity of things they already have and consumers rent from their peers rather than from companies
Example of share economy
RV house; AirBNB; Lyft; Uber
How does IT bring asset owners and consumers together in the share economy?
digital clearing houses in which people rent items from each other
How is the share economy disruptive?
a company’s assets aren’t the only ones out there, might not be the cheapest option meaning they can receive less business
Moore’s Law
Gordon Moore proposed this law
the number of transistors in a chip doubles every 2 years
twice as many transistors in the same space at the same price
Some products only need a small amount of computing power. How does Moore’s Law make these products more affordable over time?
Twice as many transistors in the same space at the same price; this can sometimes even reduce the price
Be able to use one of the statistics about business of social media from the lecture to explain why over 140 million businesses regularly use Facebook to communicate with their customers.
- 55% of consumers share their purchases on a social site
- Social media generates nearly twice the leads as trade shows, telemarketing, or mail
Mobile: What is the tipping point and why is this important?
The point where online retailers earn more money from mobile sales than traditional devices like desktops/laptops (mobile commerce)
This drives radical pervasive tech change
Globalization: What is reverse innovation?
Create first for emerging markets and then roll that into the development markets
What is the impact of mobile phone use in developing countries?
Drives strong economic growth
How does the Hype Cycle help organizations make good decisions about technology?
By helping people understand the life cycle: a set of predictable stages that it goes through over time
Be able to briefly describe the elements of the Hype Cycle - Axes: Expectations and Time
Expectation: Vertical axis is human expectation (low end: total indifference; the other extreme is “selling everything and buy this because nothing else matters”
Time: horizontal axis, not a fixed scale, time in phases
Be able to briefly describe the elements of the Hype Cycle - The Curve itself
- Innovation trigger: breakthrough
- Peak of inflated expectations: Buzz builds, more adoption, until expectations exceed reality
- Trough of disillusionment: Reality happens, impatience, disillusionment
- Slope of enlightenment: Early adopters have learned and stick with it, more realistic view
- Plateau of Productivity: Proven benefits, broader adoption, maturity
Be able to briefly describe the elements of the Hype Cycle - Time to mainstream adoption
Not every technology matures at the same rate of speed
Some have hurdles and arrive at mainstream adoptions in a couple years
Be able to briefly describe the elements of the Hype Cycle - Range of Impact (Transformational, High, Moderate, Low)
- Transformational: Includes new ways of doing business. Includes major shifts in industry dynamics
- High: Operational impact includes new ways of performing horizontal and vertical processes. Revenue is very high or costs are very low.
- Moderate: Operational impact includes existing processes improved incrementally. Revenue is high and costs are low
- Low: Operational impact includes slight process improvements. The financial impact is minimal at best.
The hype cycle curve order
innovation trigger
peak of inflated expectations
trough of disillusionment
slope of enlightenment
plateau of productivity
Where are the 3 danger zones? What mistakes can companies make at those points on the curve?
First Danger Zone: adopting too early, wholesale product adoption across company for mission critical work
Second Danger Zone: giving up too soon, tech shouldn’t be abandoned at trough of disillusionment
Third Danger Zone: adopting too late, everyone else already has it and uses it
Be able to explain the 2 actions an organization should take early in the Hype Cycle so that they can “crush the competition” later in the Hype Cycle
- Investigate early- potentially beneficial , evaluate and learn and make decisions
- Pilot project- learn the usefulness and how its going to mature for your business
Define “Digital Workplace”
A business strategy to boost employee engagement and agility through a more consumerized work environment
What is meant by a consumerized work environment? What is the alternative?
the user is making more of the shots, choosing the tech they use for work
the alternative is organization-centric
