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Emerging technology trends for the entrepreneur

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  • 1. Technology Trends for the Entrepreneurial Leader 1 PROF. BALA IYER BABSON COLLEGE @BALAIYER 1/30/13
  • 2. Message 2 To be successful in a start-up or an established company, employees have to be entrepreneurial leaders. These leaders must understand technology trends and know how to use it to their advantage Leadership demands a commitment to learn by investing in techniques that use the technology to inform and educate
  • 3. Entrepreneurial Leader 3 Entrepreneurial leaders are individuals who, through an understanding of themselves and the contexts in which they work, act on and shape opportunities (technology driven) that create value for their organizations, their stakeholders, and the wider society Self and Contextual Awareness Enrolling Others Shaping Opportunities Cognitive Ambidexterity (act, reflect, adapt, learn)
  • 4. Technologies at Work 4
  • 5. Remember 5 It’s important when discussing technology to ask what business problem is it solving Padmasree Chief Technology and Strategy Officer for Cisco.
  • 6. Evolving IT Stack Users 6 Intelligence/Services/Analytics Behavioral Gaming Change Layer MobileCloud Social Social Mobile Analytics Software Cloud Hardware
  • 7. Trends 71. Arrival of Utility Platforms and platform based competition  Agility2. Digital spaces -- Disintegration of organizational boundaries  Cost savings3. Personalization -Information explosion  Big Data and Analytics  Customer satisfaction4. Connected world  Era of Networks  Access to resources5. Democratization of knowledge  Learning organization6. Age of Transparency  low coordination costs7. Production to consumption logic  Innovation Era of the Entrepreneurial Leader
  • 8. 8Major Trends
  • 9. Utility Platforms 9• Social• Commerce• Analytics (measurement)• Open sourcePlatform-based competition is the norm with dominant winners and role players We are moving from the internet economy to the App economy• Critical capability: Culture of fast experiments• Reward: Agility
  • 10. Utility Platforms (contd..) 10 Re-use Shared infrastructure Experimentation from ideas to productive practice Lower coordination costs for extended supply chains Lowers “friction” costs "Were an analytics company masquerading as a games company," Ken Rudin, Zynga
  • 11. Digital Spaces 11 Digital identity Digital influence Virtual workforce Sharing economy Digital natives are forming a larger portion of the working economy and enforcing their values Critical Capability: Navigation Rewards: Cost Savings, innovation
  • 12. Digital Spaces --New era for work 12 R&D Micro-temps Programming Information economics Collective consumption
  • 13. Personalization 13 Information explosion Social, location Big data and analytics The clock speed of the world is increasing as devices are connected to the internet, ushering in billions to the global, connected economy. Critical Capability: Sense making Rewards: Customer Satisfaction
  • 14. Personalization -- Analytics 14 Data is the currency, insight is the goal Data is back in vogue and a key source of competitive advantage
  • 15. Networked world 15 Social networks Organizational networks (alliance) Internet of things (API) Critical Capability: Architectural control Rewards: Access to resources
  • 16. Networked World --Social Networks 16  Wielding digital influence  Building social capital  Strength of weak tiesConnections are the new wealth, isolationis the new poverty.
  • 17. Democratization of knowledge 17 MOOCs Blogs, Twitter, discussion boards On the job learning Develop spectrum of skills Learn how to learn (know, do, be) Build identityBRIC nations are using smart devices to overcome the digitaldivide and join the knowledge economy Critical Capability: Information Quality Filters Rewards: Learning organization
  • 18. Production to consumption logic 18 Observe lead users Monday morning effect Encourage user driven innovation Power and control shifts to customers Augmenting human intellect Critical Capability: Learning from users Rewards: Innovation
  • 19. Edge Economy 19 Decision rights reside where they have the best access to customer information.
  • 20. Age of Transparency 20 Knowledge workers willing to learn Communicators: Tweet, blog, speak and mentor Dialogue with stakeholders Everything captured and accessible (Open Data) Critical Capability: Principles driven management Rewards: Low overheads
  • 21. Transparency -- Knowledge is Power 21 Meritocracy rules Distributed management
  • 22. How have these technologies changed organizations? 22 Operational excellence  Cloud-based infrastructure Customer intimacy  Higher capability to listen and learn Product leadership  Faster feedback cycles Agile, Transparent, Meritocracy rules, Collaborative
  • 23. 23How do you plan to exploit these trends?
  • 24. What Next? 24 Organize discussion sessions around each trend Encourage fast experiments  Focus on a business problem Capture and share lessons Track best practices Collaborate Don’t be afraid to fail
  • 25. Rewards 25 Agility Digital relevance (individual & organizational) Rapid Sense Making Engaged stakeholders Exercise architectural control Lifelong learning User driven innovations Reduces friction Competitive Advantage