On October 23rd, 2014, we updated our
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Before we startWe at Victorious Secret always try to grow better through each one of our issues. We also love words, we love writing and explaining in great detail how and why something twists and turns the way it does. BUT we have tried changing the game with #4 of Victorious Secret Online. In this issue we work mainly with images and graphs, colors and tables. This was the goal we set for ourselves when drawing up the ‘blueprint’ for our magazine, as well as the constructive critisism we received for our last issue. This week’s installemnt will deal with INNOVATION, INFORMATION and MASS COLLABORATION and we hope you will find it as interesting as our last issues. -‐ The Team Managing Editor Editor in Chief Jay Gada Simon Ramsden Executive Editor Creative Director Shannie Tu Flavia Vintila Copy Editor Fact Checker Emma –Zhuo Yi Ivy Huang
21 ‘Business is going to change more in the next 109 years than it has in productivity applications, networks and electronic mail for the last 50. communications, basic business applications. The typical company has made 80 percent of the investment in the technology that can give a As I was preparing my speech for our first CEO summit in the spring of healthy flow of information yet is typically getting only 20% of the 1997, I was pondering how the digital age will fundamentally alter benefits that are now possible. The gap between what companies are business. I wanted to go beyond a speech on dazzling technology spending and what they are getting from the combination of not advances and address questions that business leaders wrestle with all understanding what is possible and not seeing the potential when you the time. How can technology help you run your business better? H ow use technology to move the right information quickly to everyone in will technology transform business? How can technology help make the company. you win 5 or 10 years from now? The job that most companies are doing with information today would If the 1980s were about quality and the 1990s were about re-‐ have been fine several years ago. Getting rich information was engineering, then the 2000s will be about velocity. About how quickly prohibitively expensive, and the tools for analysing and disseminating the nature of business will change. About how quickly business itself it weren’t available in the 1980s and even the early 1990s. But here on will be transacted. About how information access will alter the lifestyle the edge of the 21st century, the tools and the connectivity of the of consumers and their expectations for business. Quality digital age now give us a way to easily obtain, and act on information improvements and business process improvements will occur faster. in new and remarkable ways. When the increase in the velocity of business is great enough, the very nature of business changes. A manufacturer or retailer responds to For the first time, all kinds of information – numbers, text, sound, and changes in sales in hours instead of weeks is no longer at heart a video – can be put into a digital form that any computer can store, product company, but a service company that has a product offering. process and forward. For the first time, standard hardware combined with a standard software platform has created economies of scale that These changes will occur because of a disarmingly simple idea: the make powerful computing solutions available inexpensively to flow of digital information. We’ve been in the Information Age for companies of all sizes. And the ‘personal’ in personal computer means about 30 years, but because most of the information moving among that individual knowledge workers have a powerful tool for analysing businesses has remained in paper form, the process of buyers finding and using the information delivered by these solutions. The sellers remains unchanged. Most companies are using digital tools to microprocessor revolution not only is giving PCs an exponential rise in monitor their basic operation, to run their production systems: to power, but is on the verge of creating a whole new generation of generate customer invoices; to handle their accounting; to do their tax personal digital companions –that will make the use of digital work. But these uses just automate old processes. information pervasive. A key to this pervasiveness is the improvement in Internet technologies that are giving us worldwide connectivity. Very few companies are using digital technology for new processes, that radically improve how they function, that give them the full In the digital age ‘connectivity’ takes on a broader m eaning than benefit of their employees capabilities, and that give them the speed simply putting 2 or m ore people in touch. The Internet creates a new of response they will need to compete in the emerging high speed universal space for information sharing, collaboration and commerce. business world. Most companies don’t realise that the tools to It provides a new medium that takes the immediacy and spontaneity accomplish these changes are now available to everyone. Though at of technologies such as TV and the phone and combines them with the heart most business problems are information problems, almost no depth and breadth inherent in paper communications. one is using information well. These emerging hardware and software communications standards Too many managers seem to take the absence of timely information as will re-‐shape business and consumer behaviour…. New consumer given. People have lived for so long without information at their finger devices will emerge that handle almost ever kind of data, text, tips, that they do not realise what they are missing. One of the goals in numbers, voice, photos, videos, in digital form. I use the phrases Web my speech to the CEOs was to raise their expectations. I wanted them work style and Web lifestyle to emphasise the impact of employees to be appalled by how little they got in the way of actionable and consumers in taking advantage of these digital connections ….” information from their current IT investments. I wanted CEOs to demand a flow of information that would give them quick, tangible Source: Bill Gates, Business @ the speed of Thought: knowledge about what was really happening with their customers. Succeeding in the Digital Economy (Penguin 1999) Even companies that have made significant investments in formation technology are not getting the results they could. What is interesting is that the gap is not the result of a lack of technology spending. In fact most companies have invested in the basic building blocks: PCs for
WISDOM KNOWLEDGE = experience, values and context applied to information Learning process - analysis & synthesis Outcome - Understanding INFORMATION = meaningful, useful data Learning process - giving form and functionality Outcome - Comprehension DATA = raw factsLearning process - accumulating truthsOutcome - Memorization