TO 300 Final
Which dimension of the PRISM framework is most impacted by Social Media:
(I) Intangible Value
The responsibility of the organizational leader regarding business value is to:
1) collaborate with key stakeholders to identify which dimensions of value are primary and which are secondary, 2) develop metrics that can be used ex ante and ex post, and 3) understand the roles and responsibilities of all stakeholders in ensuring business value realization.
A six-step process for developing digital initiative business cases was developed as follows:
1) define business drivers and investment objectives; 2) identify benefits, measures and owners; 3) structure benefits; 4) identify organizational changes enabling benefits; 5) determine explicit value of each benefit; and 6) identify costs and risks
We propose four fundamental principles of digital fitness for successful development of digital initiatives:
1) generate business value; 2) maintain strategic alignment with organizational and business strategies; 3) leverage technology trajectories; 4) apply digital economics
Three insights regarding pricing are:
1) price based on value to consumer, 2) vary pricing with time due to network effects, and 3) exercise caution when using data mining for individual pricing online
the responsibility of organizational leaders regarding digital economics is to:
1) understand the four concepts of digital economics, 2) apply the concepts during early-stages of digital initiative development (for a new product or service in particular) to develop a more compelling business case, and 3) remain up-to-date on digital economics as new findings emerge
the responsibility of the organizational leader regarding strategic alignment is to
1) understand the implications for all three strategies of the new digital initiative, 2) develop and implement changes to organizational strategy that complement and support changes to the IS strategy, and 3) ensure that the digital initiative aligns with business strategy.
The responsibility of the organizational leader regarding technology trajectories is to
1) understand the three phenomena of change, embeddedness, and analytics and how they might shape a given digital initiative, 2) collaborate with IT personnel to develop a shared understanding of how technology trajectories can be exploited, and 3) leverage technology trajectories to assess technology risks such as platform obsolescence.
What are the different business uses of Social Media:
1. Collaboration and Engagement and Learning and Recruitment, 2. Supply Chain, 3. New Product Development and Ideation, 4. Marketing
Levels of how to generate value using Data Mining Tools:
1. Collecting, 2. Analyzing, 3. Predicting, 4. Operationalizing, 5. Activating
What are the Four Waves of Artificial intelligence:
1. Internet AI, 2. Business AI, 3. Perception AI, 4. Autonomous AI
Michale Porter's Big three mistakes in defining strategy:
1. My strategy is to internationalize, 2. My strategy is to consolidate my industry, 3. My strategy is to Ramp up my R&D budget/outsource more
Companies better at tech have ____ % higher market valuation ratios:
12
How many industrial eras are there:
4
What percent of capital investment is tech related:
50%
What percent of tech initiatives fail?:
50%
Companies better at tech are ____ % more profitable than industry competitors:
6
What percent of CEOs said yes when asked if their company is a technology company:
67%
What percent of companies use social media for recruitment:
80%
Companies better at tech generate ____ % more revenue through their employees and physical assets:
9
What percent of entrepreneurs value during the chasm of the adoption curve:
90%
What percentages of organizations use ERP systems:
90%
Software as a service (SaaS):
A service provider details software and applications through the internet
Platform as a service (Paas):
A service provider offers access to a cloud-based environment in which users can build and deliver applications. Supplier provides infrastructure
Infrastructure as a service (IaaS):
A vendor provides clients pay-as-you-go access to storage and other computing resources in thee cloud
PRISM - Sustainability Example:
Amazon contributes to trash so how do they contribute to fixing this problem - logistics to reduce energy usage
Digital is:
Amplifying and informing customer expectations, breaking traditional constraints and tradeoffs, and reshaping business models
The Four V's of Big Data - Velocity:
Analysis of streaming data
Organizational Strategy does not include:
Application
What's new in the Fourth Industrial Era Organizing - API:
Application Program Interface - method of allowing coders to access your data or functionality via the web
Smart Spaces:
Are ordinary environments equipped with visual and audio sensing systems
Top 10 Strategic Technology Trends for 2019:
Autonomous things, Augmented Analytics, AI-Driven Development, Digital Twins, Empowered Edge, Immersive Experience, Blockchain, Smart Spaces, Privacy and Ethics, Quantum Computation
What problems were relevant before Enterprise Resource Planning Systems:
Before ERP's, each business unit had it's own system to address its own needs
Core Motivation of class:
Better at tech means better at business
Common installations of ERP systems:
Big Bang, Franchising Strategy, Slam Dunk, On-Demand Nibble
How does Zara's Strategy Triangle look? (Think Business Strategy, Tech Strategy, Organizational Strategy):
Business Strategy - Fast Fashion, Tech Strategy - Handhelds, Organizational Strategy - Supply Chain excellence
Different labels in the Strategy Triangle:
Business Strategy, Tech Strategy, Organizational Strategy
Benefits of the Process in PRSIM:
By automating handoffs and updates, bottlenecks and lags can be minimized. Another benefit is risk mitigation, as alerts can be programmed to mitigate problems before they mushroom into major issues
Challenges of Process in PRISM:
Challenges include the need to change workplace routines, redesign processes, and align incentive schemes.
What does successful implementation of ERP require:
Changes to technology and organizational strategies
Different Funding Models:
Chargeback, Allocation, Corporate, Shared Service Model
What's new in the Fourth Industrial Era Organizing?:
Cloud, Microservice, API, Software Network
Third Industrial Era:
Computer and automation
Different types of Blockchain - Consortium:
Consensus process is controlled by a pre-selected set of nodes. Reading and writing privileges determined by owner
How could Big Data be used for COVID-19:
Contact tracing, learning whose been in contact with who
Big Data is not characterized by:
Cost
Challenges of ERP systems:
Costly, difficult to implement, customization, training, participation/Buy in
PRISM - Mobilize Options:
Create a platform for future value-generating initiatives. refers to leveraging an existing digital platform to achieve additional value
Fourth Industrial Era:
Cyber physical systems, Transformation enabled by new digital technologies that blur boundaries between physical, digital, and biological systems.
Emotion AI:
Defined as using AI techniques as computer vision or voice analytics to adapt to a user's emotional state and improve the overall experience
Different Stages of the Analytics Continuum:
Descriptive (reporting what happened), Diagnostic (find out why), Predictive (forecast based on patterns), Prescriptive (applying knowledge to make change)
What does DevOps stand for and what does it consist of:
Development & IT Operations. Quality Assurance, Development, Operations. It improves speed of delivery software and improves performance
The Four V's of Big Data - Variety:
Different forms of data
What's new in the Fourth Industrial Era Organizing - Cloud:
Digital service available on demand via the internet from a cloud computing provider's servers
What is the Intangible (PRISM) for Alexa-based career consulting:
Don't have to travel and get in your car to go get the counseling
Where is Peak of Inflated Expectations from the hype cycle curve in the Adoption Curve:
Early Adopters
Where is Tech Trigger from the hype cycle curve in the Adoption Curve:
Early Adopters
Where is the Slope of Enlightenment from the hype cycle curve in the Adoption Curve:
Early Majority
What are the different business uses of Social Media - Collaboration and Engagement and Learning and Recruitment - Business Value:
Efficient internal processes and employee development
What does EDI stand for:
Electronic Data interchange
Smart Contract:
Enforcement of the contract is executed by the blockchain (they disperse revenues as the contract says)
PRISM - Product:
Enhance products and services or enable new ones
What are the different business uses of Social Media - Supply Chain - Business Value:
Enhanced supplier collaboration
Technology often does one of three things in our life:
Enhances Conventional Products, Spawns New Services, Makes Possible New Products
What does ERP stand for:
Enterprise Resource Planning
What is GDPR:
General Data Protection Regulation
PRISM - Intangible:
Generate value that is difficult to quantify in dollars such as enhanced branding, knowledge sharing, development of human capital, collaboration, knowledge management, recruitment relationship development, and regulatory compliance.
What is the PRISM Framework:
Generating business value with information systems - A model for helping managers understand dimensions of potential value, maximize that value, and minimize risk
Erik Brynjolfsson used big data how:
He wanted to make big data available to everyone - thought it was giving smart people more advantage, making the wage of worse-off people stagnant
Examples of ERPs that have failed companies:
Hershey implemented during halloween and it hurt delivery, Waste Management implemented a fake ERP
Different labels in the Strategy Triangle - Business Strategy:
How to compete, where to go and not to go, how to get there (unique positioning)
Describe the role of LEGO online communities in building a customer-centric organization:
Identified five "LEGO Luminaries" through YouTube, created an ambassador program
What Is Mobilizing (PRISM) for Alexa-based career consulting:
If you collect a lot of data using this you can use that elsewhere after
Example of a company that is in the middle of low cost and differentiation for strategy:
Ikea because they focus on experience and low cost
Lego's challenges with Competitors:
Imitation products, low cost alternatives, poor quality that customers couldn't detect so it was frustrating
Gartner Hype Cycle in order - Innovation Trigger:
In early stages of R&D, still 10+ years away from product development/high growth
Where is the Trough of Disillusionment from the hype cycle curve in the Adoption Curve:
In the Chasm between Early Adopters and Early Majority
Common installations of ERP systems - Franchising Strategy:
Independent ERP systems are installed in each unit, while linking common processes, such as financial bookkeeping, across the enterprise (most common way)
Us-versus-them mentality:
Information technology (IT) personnel are excluded from business conversations
Project Phases of the Digital System in Bombardier:
Initiate, Plan/Develop, Pilot (First) Implementation, Learning, Full Implementation (Additional Roll-Outs)
Gartner Hype Cycle in order:
Innovation Trigger, Peak of Inflated Expectations, Trough of Disillusionment, Slope of Enlightenment, Plateau of Productivity
Adoption Curve:
Innovators, Early Adopters, Early Majority, Late Majority, Laggards
Advantages of ERP systems:
Integration results in less complexity, scalability, improved reporting, regulatory compliance
What doe iOT stand for:
Internet Of Things
Jeff Hammerbacher used big data how:
Introduced Facebook to the open source model
What does the Strategy Triangle do:
It Illustrates alignment needed for organizational effectiveness
Technology Trajectories - Rapid Technological Change:
It gets faster and cheaper
What is the role of technology as a capability in the new customer-centric business model at LEGO?:
LEGO fans communicated with each other through social media platforms, LEGO sourced talent through YouTube
Technology Trajectories - Embeddedness & Ubiquity:
Leading to increased use
How could Big Data be used for Wildfires:
Learn about the land texture and trends in weather and better forecast its future
From a strong LEGO brand and a place in the list of top 10 toy companies in the world in 1990, LEGO management found their business model at risk by 2000. What were the challenges faced by LEGO?:
Lost their understanding why they existed and needed to involve customers more, new competitors like video games and MP3s, overbuilt the brand resulting over-diversified product lines
Gartner Hype Cycle in order - Peak of Inflated Expectations:
Lots of chatter about the technology, but now on their way to a trough
Two Different types of strategies:
Low Cost And/Or Differentiation
Examples of the Fourth Industrial Era:
Machine learning/AI, Augmented and mixed reality digital twins, Open/big data, blockchain
Four Principles of Digital Strategy:
Maintain Strategic Alignment, Generate Business Value, Apply Digital Economics, Leverage Technology Trajectories
Customization in digital:
Making software code changes to adapt to processes
Second Industrial Era:
Mass production, assembly line, electricity
First Industrial Era:
Mechanization, water power, steam power
What's new in the Fourth Industrial Era Organizing - Microservice:
Method of developing software apps as a system of independently deployable, small, modular services
What is Analytics:
Mining Big Data for trends and patterns to generate actionable insights
Technology Trajectories - Big Data Analytics:
More data and software based analytics
Lego's challenges with Internal Culture:
More product-focused, authoritative leadership
What's new in the Fourth Industrial Era Organizing - Software Network:
Network or software apps enabling service delivery faster, cheaper, and better
Is the University of Michigan's Portal considered Social Media:
No because it doesn't allow a lot of interaction, you need seamless interaction and collaboration
What is Social Media:
Online platforms that connect people and offer user-generated content, many-to-many interactions, and collections of computer apps for diverse functionality
Spontaneous Association:
Our second nature, doing something quickly with no thought, happens through communication, can be helpful in ERPs
Four Principles of Digital Strategy - Generate Business Value:
PRISM Framework including 5 dimensions of value
Different Funding Models - Chargeback:
Pay for what you consume, like a DTE bill
only two categories accounted for the top ten mistakes in terms of frequency of occurrence:
People and Process
Conservatives of Technology:
People have a lot of expertise but don't have the money to invest in technology
Gartner Hype Cycle in order - Trough of Disillusionment:
People start to wonder what exactly it is and how it works, the complexity of the technology and confusion comes out, press and consumer attention sees a large decrease
Fashionistas of Technology:
People who have a lot of technology but no expertise
What is the order of the waterfall method:
Plan, Analyze, Design, Develop, implement, Maintain, Plan
What's the most sophisticated part of the Analytics Continuum:
Prescriptive
Different types of innovation - Disruptive:
Process by which a product takes root initially in simple applications and then moves up the market, eventually displacing competitors
Different labels in the Strategy Triangle - Organizational Strategy:
Processes, practices, structures, cultures, etc.
Supply Chain Process Order:
Product Adaptation, Supply Chain Responsiveness, New Products, Key Process Improvements, New Processing, Cost To Serve
What does each letter in PRISM stand for:
Product, Process, Intangible, Sustainability, Mobilize Options
What are the different business uses of Social Media - Marketing - Business Value:
Promotion, branding, sales
Different types of Cloud approaches:
Public Cloud, Private Cloud, Hybrid Cloud
Different types of Blockchain:
Public, Consortium, Private
Four Principles of Digital Strategy - Leverage Technology Trajectories:
Rapid Tech change, more use, more data analytics
Technology Trajectories:
Rapid Technological Change, Big Data Analytics, Embeddedness & Ubiquity
Three technology trajectories are pertinent to the strategic management of digital initiatives:
Rapid technological change, Embeddedness and ubiquity, and Big data analytics
Three technology trajectories are pertinent to the strategic management of digital initiatives - Big data analytics:
Refers to software that enables users to sift through increasingly vast amounts of data to find valuable insights for generating business value.
Three technology trajectories are pertinent to the strategic management of digital initiatives - Rapid technological change:
Refers to the breakneck pace at which information technology is becoming better, faster, and cheaper.
Three technology trajectories are pertinent to the strategic management of digital initiatives - Embeddedness and ubiquity:
Refers to the insertion of digital logic and networking capabilities (components) into an increasing range of physical objects (products), comprising a digital ecosystem (infrastructure)
PRISM - Product example:
Remote patient monitoring
Disintermediation:
Removing an organization from a firm's distribution channel (provide products and service directly to end consumer avoiding middle organizations/agencies)
Social Intensity Equation Abbreviated:
S = U * M * C^2
The Four V's of Big Data - Volume:
Scale of data
Free Market View of Privacy:
Self-regulation is efficient, markets determine the appropriate level of pollution (no government involvement)
Social Intensity Equation in words:
Social Intensity = (User-generated content) * (Many-to-many interactions) * (Collection of Computer Apps)^2
What is the #1 activity on the web:
Social Media
What type of technology does the saying "birds of a feather flock together" refer to:
Social Media
What points of the Mirabel roll-out still needed improvements:
Some trainers didn't feel confident enough in their ability to train. training provided too much information in a short period of time.
What specific internal changes were launched to support this business model?:
Started encouraging a customer-oriented organizational culture. To empower employees to be more responsive to customer feedback, eliminated unnecessary hierarchical and bureaucratic processes, looked for employee feedback
Four Principles of Digital Strategy - Maintain Strategic Alignment:
Strategy triangle to align business strategy, organizational strategy, and IT strategy
What does big data mean for us as people and businesses:
Technology is getting better and faster exponentially with time, don't assume what is "good" today will stock around for long, keep an eye on what's next to exploit for business advantage
Definition of Privacy:
The Right to be left alone
If you had $1M and asked how you were going to invest it, which equation do you use:
The Social Intensity Equation
Why did BP's strategy triangle fail?:
Their culture was to work quickly and produce so much that they ignored warning systems
What is an Enterprise Resource Planning Systems (ERP):
They integrate all (or most) departments and functions across a company onto a single computer system that can serve all those different departments' particular needs
Bombardier BMIS PRISM Benefits Analysis - Mobilization Options:
They learned from phase one and applied what they learned in phase two
What were some of the strong points of the Mirabel roll-out:
They were able to reduce inventory and relied less on outside sources.
PRISM - Product benefits:
Top-line growth via market expansion
PRISM - Process benefits:
Top-line snd bottom-line growth
Hidden costs of ERP:
Training, integration and testing, customization, data conversion
Different types of innovation - Radical (Game Changer):
Transform fundamentally markets and even society, have a radical impact on how humans feel
What were the changes to LEGO's business model introduced by the new CEO Jørgen Vig Knudstorp?:
Trimmed product offerings, modernized its supply chain, focused on sustainable innovation
The Four V's of Big Data - Veracity:
Uncertainty of data
What is the fifth V of Data:
Value
Definition of Big Data:
Very large (volume), dynamically changing (velocity), diverse data sets (variety)
The Four V's of Big Data:
Volume, Velocity, Variety, Veracity
Different labels in the Strategy Triangle - Tech Strategy:
What digital services to provide and how to deliver them?
Different types of Blockchain - Private:
Write permissions to a single organization. Applications are internal to a single company
Can an ERP enable a firm to achieve various PRISM value dimensions:
Yes
Would an ERP service be good for a Food Delivery Service:
Yes, it would help limit communication delays, we would be able to regulate more decisions, seamless flow for information among different departments
What is Blockchain:
a digital concept to store data that comes in blocks that are chained together so it can never be changed (secure, shared, distributed, ledger)
Cryptographic HDifferent types of Blockchain: Public, Consortium, PrivateDifferent types of Blockchain: Public, Consortium, Privateash:
a kind of signature for a text or data file
Digital innovation may give rise to:
a new industry, new product category, change basis of competition, disruption in personal mobility, disruption in an industry vertical
Example of Big Data:
all the posts to Facebook globally in the last year
SCSM does what:
allowing suppliers to communicate/collaborate regarding efficiency enhancements, enhance response to disruption or crisis (e.g., hurricane), enhance information sharing to support lean initiatives
PRISM - Sustainability:
am I competing in a benign manner to my environment - improve environmental sustainability
Different types of Blockchain - Public:
anyone can read, send transactions to, and participate in consensus process. Fully decentralized (Bitcoin)
5 biggest technologies that will effect your retail experience:
beacons (telling you where items you want are), facial recognition (letting employees know when you need help based one your expression), robot assistants, smart mirrors, auto checkout
Silver bullet syndrome:
belief that technology will magically solve business problems
What does the Intangible value (PRISM) for social media include:
branding, collaboration, internal and external engagement, culture shift, hiring, learning
Functional integration:
central pool (like finance) for your entire organization
Bombardier BMIS PRISM Benefits Analysis - Intangible:
centralized data set had higher morale
Collaborative Filtering:
classification of software that monitors trends among customers and uses the data to personalize the customers experience (Netflix offering recommendations)
Common installations of ERP system - Big Bang:
companies cast off all their legacy systems at once and install a single ERP system across the entire company
Machine Learning:
computer systems perform specific tasks without explicit instructions, relying on patterns instead
Artificial Neural Networks (ANN):
computing systems that are inspired by, but not identical to, biological neural networks that constitute animal brains
ISM is used to:
connect hundreds of thousands of employees, address changing demographics in company, foster innovation through collaboration
Challenges faced by bombardier:
cost, competition
What are the different business uses of Social Media - New Product Development and Ideation - Business Value:
crowdsourcing for new development, growing user communities
What risk poses the greatest threat to your organizations growth:
cybersecurity
Example of Small Data:
data in a spreadsheet on my computer that keeps track of my budget
Embeddedness and Ubiquity meaning:
device mesh, the experience seamlessly flows across a shifting set of devises and interaction channels blending physical and virtual environments
Things you can do to protect yourself against cyber hackers:
different passwords, stay away from accessing stuff on public wifi, don't open harmful emails, lock your laptop at work
Digital Twin:
digital replica of a living or non-living physical entity
Private Cloud:
does not share infrastructure/computing resources with other tenants, it's private so it's expensive
Where is robotic surgery in the hype cycle:
early stages, Tech Trigger
successful digital initiatives rely as much on:
effective strategic management as they do on technical capabilities
When does the Plateau of Productivity from the hype cycle curve happen in the Adoption Curve:
end of Late majority and during laggards
Where are autonomous vehicles on the technology hype cycle:
entering trough of disillusionment
What is Zara's unique strategy:
fast shopping strategy was created by them
Long Tail Phenomenon:
firms can make money by selling a near limitless selection of less popular products
Benefits of PRISM Framework:
focus on value generation, value dimensions allow business managers to focus on how to minimize risk and maximize chances of success
A digitally fit leader understands how to:
generate business value with digital initiatives, how to align digital initiatives with business and organizational strategy, how technology trends affect the longevity of digital initiatives, and how to exploit the dynamics of digital economics.
Why is Big Data a Big Deal:
generates more analytics and insights of what customers want, trends, and improves internal and external operational performance/experience
Common installations of ERP systems - Slam Dunk:
get ERP up and running quickly and to ditch the fancy reengineering
Example of software as a service:
google, Microsoft 365. Just needing username and password to access someones application, paying for access privileges
What are the key business issues facing Outdoor King?:
had no software as a system of engagement between suppliers and buyers
Digital Masters of Technology:
have the expertise and resources to have the technology
PRISM - Intangible example:
having a software that improves morale of employees which is an intangible benefit
Brad Stevens used big data how:
he figured out how to defend opposing teams well, and get his players to make one more shot a game, and how it's hard to communicate data
What was the role of the plant manager:
he provided employees to work on the design of the system
Stage 1 of the Long Tail Graph:
high on unit sales and low on products offered, most popular products offered by most retailers
Socialist View of Privacy:
humans cannot be trusted to do what's best for society (government involvement)
What are the major sources of data:
iOT, Social Media, and ERP
Iterative Method (Agile Scrum):
implementing the product incrementally over a process
Internal social media (ISM):
includes private platforms used by and for employees to collaborate, share information, and so forth
Different types of innovation:
incremental/sustainable innovations, Breakthrough innovations, Disruptive innovation, and Radical (Game Changer) innovation
Challenges faced by Bombardier:
inherited the data, processes and systems of each company it acquired. This created problems and inefficiencies, as systems did not communicate with each other effectively. Difficult to share data between manufacturing facilities. Lack of integration between its legacy systems
Bombardier project phases:
initiate, plan/develop, pilot implementation, learning, full implementation
Out of sight, out of mind:
intangible assets are not optimally leveraged for value generation
Five reasons companies use ERPS:
integrate financial information, integrate customer order information, standardize and speed up manufacturing process, reduce inventory, standardize HR information
Artificial Intelligence (AI) is:
intelligence demonstrated by machines, often used to describe machines that mimic cognitive functions
What benefits were expected from ERP integration for Bombardier:
inventory savings
Different types of innovation - Breakthrough:
involve large technological or business model advances that increases the potential and competitiveness of an existing product perhaps in untapped markets
Different types of innovation - Incremental/sustainable innovations:
involve minor ongoing changes to existing products to sustain business (iPhone 7 to iPhone 8)
Most important aspect of ERP:
it gives you a single source of truth that connects all functions within the walls in the organization, and supports the enterprise specific activities
Why is Blockchain revolutionary:
keeps track of anything without someone being able to tamper with it
Problems Blockchain might solve:
lack of trust, authenticity of goods, traceability
Operational integration:
linear or sequential integration, processes that depend on each other
Workarounds during ERP implementation:
may occur and they reduce adoption rates
Stage 2 of the Long Tail Graph:
more products offered less unit sales, demand exists even though products aren't popular enough for stores to carry them
Can a Hash be decrypted back to original text:
no
Degree of integration for bombardier as a company:
no integration, islands of information
Bombardier BMIS PRISM Benefits Analysis - Sustainability:
no redundant steps so drove efficiency which reduced their carbon footprint
Does the length of a Hash change:
no, it's always the same number of characters
Long tail meaning fo Netflix:
not depending on Blockbuster or super popular movies, but focusing on less popular movies everyone might know
What is the Process (PRISM) for Alexa-based career consulting:
not having to wait for a meeting and getting answers instantly
PRISM - Mobilize Options example:
obtain large amounts of data, later used to make a valuable heat map of country currency flows
Crowd Sourcing:
obtaining information by enlisting the services of a large number of people typically via the internet
Common installations of ERP systems - On-Demand Nibble:
old-fashioned companies or big companies that can't standardize onto one system, need faster implementation times
Marketing social media:
oldest and most widely used form of social media
Two kinds of integration:
operational and functional
Different Funding Models - Allocation:
pay based on pre-made estimates, no over or under
Four types of failure were identified in an analysis of 99 IT projects:
people, process, product, and technology issues
Digital optimism bias:
predisposition to assess outcomes of digital initiatives in an overly positive light not supported by past experience
Insights generated from the economics of IS literature can be grouped into four broad categories:
pricing, selling, competing, and externalities
Success criteria have been categorized into two types:
process-related (time, cost, product) and outcome related (use, learning, value)
Digital innovation:
product that has the potential to impact entire industries
Challenges of Blockchain:
rapidly evolving standards, unclear terminology about privacy
Public Cloud:
services are purchased by a business and delivered by a third-party cloud service. Multiple customers can coexist and share the same infrastructure/computing systems
Different Funding Models - Corporate:
set aside some money for innovation
What are Hashes in blockchain:
signatures that meet certain requirements and tie blocks together
Supply chain social media (SCSM) refers to
social media platforms that connect firms with their upstream suppliers and downstream customers
Pragmatic view of Privacy:
some self regulation, mix between Free Market and Socialist View
Strengths of Post-Mortem second phase:
sound participation, vision was well articulated, strong leadership
Challenges associated with integration for bombardier:
specialization is a major barrier for integration
Structured data:
spreadsheet
Needed improvements of Post-Mortem second phase:
staffing pressure, data not well understood
How to implement new information systems strategies?":
take a "crawl, walk, run" approach to implementation, and starting within your own four walls first is probably the best strategy.
Bombardier BMIS PRISM Benefits Analysis - Product:
the SAP software
Four insights regarding selling are:
the importance of experience goods, the role of lock-in, crowd- sourcing, and the long-tail.
Moore's Law:
the number of transistors per square inch on integrated circuits doubles every year (it gets faster and cheaper)
Network effects:
the value to the user increases as the number of users increases
What is the current state of Moore's law how integrated circuits double every year?:
they are running out of space to continue to double, and price is dropping
Bombardier BMIS PRISM Benefits Analysis - Process:
they brought everyone together
Lego's challenges with customers:
they were impatient, had high expectation, changing needs, and low tolerance
What is the major thing streaming services will compete on:
time spent on platform by users
Where is drone technology in the hype cycle:
trough of disillusionment
Framing myth of tools:
use of the word "tool" creates belief that such systems are more like garden shears (simple) than socio-technical systems (complex)
Hybrid Cloud:
uses a combination of both public and private cloud models
PRISM - Process:
using technology to facilitate a smooth process. This value dimension involves using information systems for enhancing process efficiency (new product development, operations, accounting)
Lego's challenges with Technology:
video games, videos and TV, online platforms
Unstructured data:
video, audio files, blogs, texts
Business manager decides:
what gets funded, what is the value proposition, assesses risk, evaluates performance
Vertical Integration:
when an organization owns more than one layer of its value chain (production and distribution)
Different Funding Models - Shared Service Model:
where the business units compete with our own internal IT
PRISM - Process example:
workflow software enhances project proposal and execution process
Configuration in digital:
working within software table settings and establishing a specific configuration to drive the process within the corporation
What is the Sustainability (PRISM) for Alexa-based career consulting:
you don't have to get in your car and contribute to emitting gas