Use of Technology in Business

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Uses of Technology in Business
TECHNOLOGY IS INTERWOVEN INTO EVERY ASPECT OF BUSINESS

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Four Megatrends
• Four technology “megatrends” clearly have a significant impact on business today …
– Mobile Computing
– Social Media
– Cloud Computing
– Big Data & Analytics
• Digital transformation is occurring rapidly at a majority of public and private sector
organizations.
• Business leaders are not simply deploying these four technologies to boost efficiency or
otherwise cut costs.
• Firms are embracing these megatrends to craft new business models, develop new
revenue streams, or drive other material changes that lead to an increase in the top or
bottom lines.
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Transformative Impact of Technology
• Mobile technology is enabling new business scenarios
• Cloud computing is driving business agility
• Big data is helping companies innovate
• Social channels are transforming core business processes
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Technology Delivers Results
• Getting to market faster and more effectively
• Innovative new business models, products, and services
• Optimized business operations
• Exceptional end-to-end customer experiences
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Challenges & Risks
• Data Security Issues
• Lack of Interoperability
with Existing IT Systems
• Lack of Control
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Data Security Concerns
• Leaked Database Usernames & Passwords
• Stolen Credentials & Phishing Attacks
• Data Lost in The Cloud
• Infected Customer Computers & Compromised Privacy
• Hacked E-mail Accounts
• Flaws in Software
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Mobility = New Business Scenarios
• Airlines
• Banking
• Shopping
• Music
• Meetings & Communication
• Marketing
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Cloud Computing = Business Agility
• Project Management
• Customer Service
• Customer Resource Management
• Enterprise Resource Planning
• Marketing
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Big Data Enables Innovation
• Strategic Planning
• Recognizing Trends
• Predictive Solutions
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Social = Enriched Business Processes
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Deploying Integrated Solutions
• Deploying integrated solutions is where the greatest
impact is achieved.
– For example, Thomas Horrom, VP of Technology
for the Detroit Lions said,
• “There’s less value to the Lions in having big
data coming in if we don’t have a method of
computing in the cloud, or on premises, to
interact in real time with our fans via a
mobile platform.”
• The likelihood that organizations will be beneficially
transformed is significantly greater among those
that deem multiple technologies to be critical.
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Strategic Direction
• Innovation and improved agility are
not simply a result of spending
more on IT.
• Business executives should be
assessing the various business
capabilities of their organizations
and developing a strategy and a
road map to improve and
differentiate their core capabilities
with these digital technologies.
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Knowledge Categories
• Explicit: Examples of explicit knowledge are assets such as patents, trademarks, business
plans, marketing research, and customer lists.
• Tacit: The knowledge contained in people’s heads.
– The challenge inherent in tacit knowledge is figuring out how to recognize, generate,
share, and manage knowledge that resides in people’s heads.

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Knowledge Protection
• KM has assumed greater urgency in American business over the past few years as millions of
baby boomers prepare to retire.
• When they punch out for the last time, the knowledge they gleaned about their jobs,
companies, and industries during their long careers will walk out with them—unless
companies take measures to retain their insights.

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In-class
• Question & Answer
• Research Examples
• Case Study
• Discussion for Complete Understanding
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