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
What is a Digital Workplace’s goal? How is it accomplished?
Boosting employee engagement and agility
Accomplished by employing a more consumerized work environment
Define Engagement
The emotional commitment an employee has to the organization and its goals
Three levels of engagement
Engaged, Not Engaged, Actively Disengaged
Define Engaged
involved and enthusiastic about their work and workplace, real emotional connections, commit their time, talent, and energy, advance the organizations objectives
Define Not Engaged
might be “satisfied” or even “happy” at work, do the bare minimum required, have not bought into the organizations mission, vision, values, or goals
Define Actively Disengaged
consistently negative, vocal, create toxic work environment
Engagement is not the same as ____ or ____. Why?
Happy; Satisfied
Because being happy or satisfied is not enough
Why is engagement important to organizations? To employees?
units with engagement are 17% more productive and 21% more profitable
it is more than money, misery at work follows you home
How common is engagement among US workers? Worldwide?
engagement is rare in the US- only 33% but worldwide it’s only 15%
Define Digital Dexterity
the ability and desire of the workforce to use existing and emerging technology for better business outcomes
Ability
Excel, programming, etc.
Desire
Employee engagement
Legos metaphor
Not who has the better Legos, but who is better at building with those Legos
Why is digital dexterity important for an individual employee? …for an organization?
The greatest source of competitive advantage for many organizations will come from the workforce’s ability to creatively exploit digital technologies
The workplace is changing! What is it, and what is its impact?
According to the Gartner Research, by 2020, digital dexterity will be the greatest source of competitive advantage for 30% of organizations.
Consumerization
A major cause for rapid technological change. Personally developed apps for the consumer market.
Gig Economy
New way to organize the work we do, using both internal employees and external freelancers
Why might employees like the Gig Economy?
Benefits employees by allowing them to work on projects they only care about.
How can the Gig Economy benefit employers?
By allowing managers to quickly assemble project teams.
RPA
Robotic Process Automation
Use artificial intelligence to do routine tasks
What kind of tasks can an RPA system perform?
Machine learning, natural language interface, process routine tasks, work within existing application
How do organizations benefit from RPA? How is it claimed that employees benefit?
Do routine jobs, work in customer service, while employees focus on creativity and focus on interesting complicated things that need profound analysis.
Greater Instrumentation
indicating, measuring, and recording employee activity
Robo-Boss
Automated supervisor job which does routine repetitive work; however, it is not neutral, algorithms are representations of our opinions.
Robo-Boss: Why can the supervisor job be automated?
Because they’re routine
Robo-Boss: Are they unbiased? Why or why not?
They are NOT unbiased - algorithms are our opinions imbedded in code
How does Digital Dexterity enable an employee to participate in organizational transformation?
Recognize opportunity, design, deliver, and execute the solution. It lets you participate.
You get an increased role, can build a prototype, create solutions
Bimodal IT. What is it?
The practice of managing two separate, coherent modes of IT delivery, one focused on stability and the other on agility
Bimodal IT: What are the two modes?
Mode 1: traditional IT, reliable, keeps the lights on, changes at a glacial pace
Mode 2: exploratory IT, experimental
Cloud First Strategy
A set of business practices that aims to utilize cloud services as much as possible. Businesses prefer to run on cloud solutions than relying on their own server
New Roles on Digital Dexterity
New Media Mogul
Process Hacker
App Savant
Data Maven
Citizen Data Scientist
Citizen Developer
New Media Mogul
Somebody who is able to use different kinds of media to persuade and educate other people
Process Hacker
Able to find novel ways to improve work situations
App Savant
Able to find and use new apps, combine them with existing apps in innovative ways
Data Maven
Able to find employee data to inform any business situation
Citizen Data Scientist
Combining your innate curiosity, your math abilities, and sophisticated tools to dig deep into data, finding hidden goals
Citizen Developer
Writing the apps that IT will never get around to creating, but that you and your coworkers need right now
Everybody needs tech skills! Gartner analyzed 38 million job postings over the last 4 years and found that there was a ____ growth in the tech skills required for non-IT jobs. Also, ____ of the CEOs that Gartner surveyed think that digital dexterity should be a key requirement when hiring new employees.
There was a 60% growth in tech skills needed for non IT jobs over the last 4 years
80% of CEOs want digital dexterity to be a core criteria for new hires
What does it mean that tech skills have a “half-life”? What’s the solution to this problem?
Many of the things we learn are superseded, can’t be fixed by a single technology.
Digital dexterity is crucial for thriving.
You can learn to learn, be agile, be curious, be creative.
