BM 331 - Class #1 Zoom

Technology in Business (Pros):

  • value creation - less barriers

  • Minimized cultural barriers

If product can jump over both cultural and linguistic barriers, it is most beneficial to shareholders

ex: iPhones are universal, doesn’t matter about language, age, ethnicity etc

Derived Values:

  • Intellectual Property (IP)

    • Does not expire, virtual property does not expire

    • Market creation: disruptive innovation that transforms industries and creates new value propositions for consumers.

    • Technology creates new areas, ex: iPhone replaced landlines, Wifi replaced cable connection

Technology in Business (cons)

  • Quicker market saturation

    • Customers get bored quicker, ex: iPhones becoming less exciting every release

  • Technology standards:

    • As technology advances, customers expect higher performance and more innovative features, making it essential for businesses to continually adapt and enhance their product offerings.

    • Winner of the market takes all

    • Need to pay owners of IP

  • Minimize turn around

    • Rapid pace + rapid competition = harder for smaller firms to stay competitive

  • Public Technology Phobia

    • AI era, ex: logistics becoming powered by AI and the effect on the truckers.

Value Systems Dichotomy:

  • Virtual Press:

    • Lead by information systems technology

    • Digital technology

      • If you can transfer everything to this, language becomes way more streamlined

Tangible Technology

  • Engineering systems

    • only type of technology systems up until 90’s

    • Non Convergent, each system is very different from one another

    • five classes, each have different systems

      • M (mechanical) - oldest syster

      • EE (electric & Electronic)

      • Civ (civil engineering)

      • Chem (chemical engineering)

      • Bio (Bio technology) - leader in today’s society

  • Since each system is so different from one another, you need to use embedded technology to put the technology together.

    • virtual technology = convergent technology

    • tangible technology = embedded technology

Chronology of information systems:

  • y2k ~ 2010 : initiation of information systems became dominant, infrastructure of information systems (wired)

  • 2011 ~ 2020 : wireless communications whipped out wired connections, mobile big data

  • 2020 ~ : 4th wave of industrial revolution, since everyone is pumping so much data in and out, data intelligence is used.

Technology S - Curve: