Teigland_Exploring future of value creation

September 2012www.hhs.se

Today’s discussionFrom 2010 to 2012 Into the future….

Did You Know: Shift Happens http://www.youtube.com/watch?v=cL9Wu2kWwSY&feature=search 1. What trends do you recognize? 2. How are these trends affecting you and your organization?3. What does this have to do with networks?

Human capacity cannot keep up… Information Growth and knowledge Human absorptive capacity TimeAdapted from Cohen & Levinthal 1989

Big Data is now big moneyTomas Larsson, Sep 2012

”No one knows everything, everyone knows something,all knowledge resides in networks humanity.” Six degrees of separation - Milgram, 1967 Adapted from Lévy 1997

3.74 degrees of separation! Aug 2012 5 mln active monthly users in SwedenSource: Facebook

People > 45 years becoming more active % age group with personal profile on any social networking websiteEdison Research, 2012 - US-based study

Check-ins not taking off… How often do you check in to location services such as Foursquare or Gowalla? 60% 57% 50% 42% 39% 40% 30% 2011 24% 2012 20% 18% 18% 10% 0% Almost never Sometimes Almost every time I go outEdison Research, 2012 - US-based study

Creation > curation 46% Creators: Create and post photos, videos, etc. 41% Curators: Find and post photos, videos, etc.http://pewinternet.org/Reports/2012/Online-Pictures.aspx

Organizations span the full range of use but…. 2010 2012 Organizational use No One-way Two-way use “broadcasting” conversations ..the majority ..the majority are here here are Ban Allow Encourage use use use Employee useTeigland 2010

US Fortune 500 renews interest in social media 100% 90% 80% 73% 70% 66% 62% 62% 60% 60% 58% 56% 2010 50% 2011 40% 2012 30% 28% 23%23% 20% 10% 2% 0 0 0 0 0% Twitter Facebook Public blogs YouTube Pinterest Google: 5.3 mln Twitter followers, up from 3.3 mln Coca-Cola: >51 mln Facebook fans, up from 32 mln Pinterest: Dominated by B2C companieshttp://www.umassd.edu/cmr/studiesandresearch/2011fortune500/

Social media gaining in influence on buying decisions Which ONE social networking site or service influences your buying decisions the most?Edison Research, 2012 - US-based study

67% in USA do not follow a brand in social media and for those who do, no one brand dominates Think about the companies, brands, products and services you enjoy following on social networking sites. What is the first ONE that comes to mind?Edison Research, 2012 Of 332 responses

Google Glass and Fashion collaborate in short film about Diane Von Furstenburg shot entirely with Glasses’ Going for the Wow Effecthttp://www.huffingtonpost.com/2012/09/13/google-glass-diane-von-furstenburg-video_n_1881484.html

Hidden influence of your friends’ friends… Happy people Christakis & Fowler, 2011 In between people Unhappy peoplehttp://www.ted.com/talks/lang/en/nicholas_christakis_the_hidden_influence_of_social_networks.html

How Wrapp’s friend-to-friend marketing platform drives salesConverting online relationships to offline sales

+http://articles.chicagotribune.com/2012-07-19/business/sns-rt-us-facebook-walmartbre86i1er-20120719_1_retail-behemoth-wal-mart-ceo-mike-duke-zuckerberg

Organizations span the full range of use but…. 2012 Organizational use No One-way Two-way use “broadcasting” conversations ..the majority are here Ban Allow Encourage use use use Employee useTeigland 2012

Managementcannot mandate social relationships My company has blocked my computer from accessing most social media sites. But I feel cut off from my network so now I just connect through my phone. Photo: ac360.blogs.cnn.com

Wide adoption of internal use across industriesGoogle, Millward Brown, 2012

Use of social networking tools within organizations Used for Significant impactGoogle, Millward Brown, 2012

Exploitation Exploration Improving existing Developing new value creation value creation activities activitiesAdapted from March 1991

The wisdom of the crowd Closed Open Expensive Inexpensive Complex Simple Accurate Close enough Accurate Up-to-dateHinton 2007

30% profit margin in commodity business

sketchstreet

From clothing to home products….

The new market place A shift by companies from being “problem solvers” to “solution finders”Ericsson & Augur 2011

Shifting market logicEricsson & Augur 2011

Into the future….Who develops it?Who finances it?Who manufactures it?

Models of Knowledge Creation E.g., Microsoft ~ Built by employees within organizational boundariesThe Firm vs The Collective E.g., Linux ~ Built by users and distributed freely regardless of affiliation Teigland, Di Gangi, & Yetis 2012

“Open source” …not just about software anymore

New forms of financinghttp://blog.intuit.com/trends/crowd-power-what-is-crowdfunding-infographic/

Fb danielDaniel Bergqvist Founder http://blog.pennybridge.org/

3D printing becoming more commonplace…

…and it’s no longer just for companies 3D scanning appsAffordablehome 3D printers

Where is all this happening? Online

Access to 24x7 global workforce Matchmakers: USD 1bln industry

Increasing supply of freelance talent globally Global Online Employment Report Q2 2012 at Elance https://www.elance.com/trends/talent-available

OpenSimulator: A value-creation ecosystem Academic Entrepreneur Hobbyist Large Firm Non-profit Local Public Federal Public Research Inst SME Employee Periphery Teigland, Di Gangi, & Yetis 2012

Here comes the Immersive Internet….O’Driscoll 2009

What are Virtual Worlds ? Platforms for unleashing creativity and revolutionizing value creationhttp://www.youtube.com/watch?v=Quh2OiPHkm8

The number of virtual worlds and users continues to rapidly increase ≈1.9 bln accounts ≈100 worldshttp://www.slideshare.net/nicmitham/kzero-universe-q1-2012

Training and simulation for Providers of Healthcare DeliveryVirtual hallucinations at In hospital counseling atUC Davis Univ of New EnglandPharmacy training at Umeå U Emergency training w/ SAIC

Accelerating innovation to meet global needs Integrating users in development processTeigland et al. 2010 http://www.youtube.com/watch?v=2kMNWBU1Yb8

Cloud party on Facebook - In betaMarketplace app and Cloud Coins https://www.facebook.com/CloudParty

≈1.4 bln VW accounts under age 16225 mln 170 mln 200 mln 42 mln 265 mln http://www.slideshare.net/nicmitham/kzero-universe-q1-2012

Developing international entrepreneurs?

“Clearly, if social activity migrates to synthetic worlds, economic activity will go there as well.” Castronova, 2006 $14.8 billion worldwide market for virtual goods in 2012Ehttp://www.superdataresearch.com/monetization-is-a-four-letter-word/

US$ 635,000 for a virtual asteroid!•US$ 500,000 profit in 5 years by Jon “Neverdie” Jacobs •Entropia Universe with GDP >US$ 440 mln http://blogs.forbes.com/oliverchiang/2010/11/13/meet-the-man-who- just-made-a-cool-half-million-from-the-sale-of-virtual-property/

The future of immersion…http://www.bbc.com/news/technology-19568451

History tends to repeat itself…. Innovation, financial crisis, industrial revolution, … Microelectronics Internal combustion engine Steam engine Third industrial revolution? Late 18th C Late 19th C Late 20th CSchön 2008

From factories to office parks to….

From the mobility of goods to the mobility of financial capital to …...the “mobility” of labor? Teigland, JVWR, 2010

Some things do not changeInnovation ExchangeExchange TrustTrust RelationshipsRelationships Interaction

Are you ready?

If you love knowledge, set it free… Karinda Rhode Photo: Lindholm, Metro aka Robin Teigland robin.teigland@hhs.sePhoto:Nordenskiöld www.knowledgenetworking.org www.slideshare.net/eteigland www.nordicworlds.net RobinTeigland Photo: Lindqvist

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Teigland_Exploring future of value creation

by Robin Teigland on Sep 25, 2012

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