Scavenger Hunt 01-Tech Change-Module 1 PDF

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Scavenger Hunt document for Quiz 1 review....

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Scavenger Hunt – Week 01 – Introduction Unit 1: Technology Change Causes Disruption - Change is not always pleasant or beneficial.  

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What is disruption? To cause something to be unable to continue in the normal way. Interrupt the normal progress or activity of something, Technology is a disruptor – what does that mean? Radical pervasive change (Treasure and tumult). Adapt when normal way of doing business disappears. Tech savy managers need to place tech at the center of playbook (ride the wave). For video rentals, music industry, and higher education be able to explain o What was the normal way of doing business? o What was the tech change? o

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What was the treasure outcome for some and what was the tumult outcome for others?  Blockbuster – Poor customer experience. Netflix is tech disruption (Started as DVD) – Subscription to your door. Radical change #2 – streaming. Blockbuster Bankrupt. Exploited change twice.  Music Industry – Records to Tapes to CD’s to Digital. Digital lead to Piracy, which lead to subscription music. Piracy is reason for decline in industry revenue.  Higher Education – Reach, lower tuition, different methods – same school. MOOC (Massive Open Online Course). Udacity – For profit MOOCS (Udacity). COVID catalyst for change (accelerated). Will changes prove to be disruptive from COVID? May cause lower tier universities will disappear (on campus to wealthy) – just opinion. Open Badges = Badges, Nanodegrees, Boot camps (all from recognized education institution – credentials).

Be able to define the term “share economy” and give an example. RV share – Asset owners use digital clearing houses (bring them together) to rent items to their peers (so they don’t have to buy). Asset owner turns unused capacity into $. ABNB is best example – 7 mil rooms/houses available w/ 150 mil users. Disrupting hotel industry. Turo – Same but w/ vehicles. How does IT bring asset owners and consumers together in the share economy? Clearing Houses - exchanges How is the share economy disruptive? Hotel, Rental cars, etc. Briefly explain four key factors causing these disruptions: o Moore’s Law = Transistors in chips will double every 24 months (Intel) @ same cost.  …and who is the tech pioneer who proposed Moore’s Law?  Be able to explain what Moore’s Law says. Radically more power for same power, Doubles every 2 years).  Some products only need a small amount of computing power. How does Moore’s Law make these products more affordable over time? Same power for ½ price. o Social Media  Be able to use one of the statistics about business of social media from the lecture to explain why over 140 million businesses regularly use Facebook to communicate with their customers. 500 hours of video uploaded to youtube. 55% of consumers share their purchases on social. Social generates x2 the leads as trade shows, telemarketing, or mail. o Mobile

What is the tipping point and why is this important? 5 Billion mobile phone users (70% smart phones). 88% of FB usage is on mobile. 70% of searches are on mobile. Mobile commerce (near me). Point where online retailers make more online via mobile than other sources. 2021 likely tipping point. Globalization – 4.4 billion global internet users (290 mil in US)  What is reverse innovation? Create first for emerging markets and roll-out to developed markets.  What is the impact of mobile phone use in developing countries? For every 10 mobile phones per 100 people, GDP goes up .5%. 

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Unit 2: Technology Change and Hype  

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How does the Hype Cycle help organizations make good decisions about technology? Gartner research creates Hype Cycle. Expectations vs Time Be able to briefly describe the elements of the Hype Cycle: o Axes: Expectations and Time (Phases – Human Development = Innovation trigger (early adopters), peak of inflated expectations (exceed reality), Trough of Disillusionment (forget those plans – don’t abandon), slope of enlightenment (people didn’t give up – improved tech), plateau of productivity (everyone sees benefits – maturity). o The Curve itself – High peak, drop, slow climb and plateau o Time to mainstream adoption – Varies (autonomous vehicles, drones, speech tech). o Range of Impact – Transformational (Less than 2 years), High, Moderate and Low. Transformational = New ways of doing bus (Major industry shifts). High = New ways of performing processes (Rev way Up, Costs way down). Moderate = Existing processes improved incrementally (Rev up and costs down). Low = slight process improvements (Maybe rev up, cost change minimal). Where are the 3 danger zones? What mistakes can companies make at those points on the curve? Might adopt too early, giving up too soon (overblown hype does not mean tech is worthless), adopting too late. Be able to apply the Hype Cycle. o Be able to explain the 2 actions an organization should take early in the Hype Cycle so that they can “crush the competition” later in the Hype Cycle. Investigate Evaluate to Pilot – Learn Evaluate o Be able to use the Hype Cycle to set an organization’s priorities based on the organization’s attitude toward risk, the potential impact of the technology, and the likely time to mainstream adoption. Focus on which techs we should explore.

Unit 3: Technology Change and the Workplace 

Be able to define and explain the term “Digital Workplace.” - program is a business strategy (intentional) to boost employee engagement and agility through a more consumerized work environment. If you fail to plan, you are planning to fail (Ben Franklin). Moore’s Law (computers for everyone) o What is its goal? Boost engagement and agility. Make it easier. o How does it accomplish that goal?

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What is meant by a consumerized work environment? What is the alternative? User is choosing tech they are using for work (purchase their own in some cases). Alternative use the organizations tech. Be able to define and explain the term “Engagement.” I know it when I see it, hard to define. Employee engagement is the emotional commitment an employee has to the organization and its goals (go the extra mile). o Be able to explain the 3 levels of engagement

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Engaged - Involved and enthusiastic about their work and workplace. Real emotional connections. Commit their time, talent and energy. Advance the organizations objectives.  Not Engaged (can transform to engaged) – might be “satisfied” or even “happy” at work. Do bare minimum required. Have not bought into the organization mission, vision, values, or goals.  Actively Disengaged – Consistently negative, vocal, create toxic environment. o Engagement is not the same as ____ or ____. Why? o Why is engagement important to organizations? To employees? Engaged employees are more productive and happy = higher productivity and profits. Engagement is rare o How common is engagement among US workers? Worldwide? 33% US and 15% world. Be able to define and explain the term “Digital Dexterity.” – Ability and desire of workforce to use existing and emerging tech for better business outcomes. Gives competitive advantage. o Be able to explain the Legos metaphor. Same blocks but who is better at building. Everyone has same set, who is the better builder. o Why is digital dexterity important for an individual employee? …for an organization? Employees will do better, develop skills, minimal training. Organization – thrive – engaged employees will be biggest competitive advantage, need agile employees. The workplace is changing! Be able to briefly explain each change below. What is it, and what is its impact? o Consumerization – Would only use tools provided by org, but now we use our own stuff (phones, etc). You choose the tools and use the apps together. o Gig Economy – Use internall employees and free-lancers for projects.  Why might employees like the Gig Economy? Remote work, mobilization, control.  How can the Gig Economy benefit employers? Profit – broad network, disband. o RPA – Robotic Process Automation  What kind of tasks can an RPA system perform? Claims, customer service, answer basic questions for routine problems  How do organizations benefit? How is it claimed that employees benefit? Routine boring work effectively and cheaply so human employees can do more difficult work (digital dexterity) o Instrumentation – Measure all work – what you did and when. Empower or Threaten? o “Robo-Boss” - Intrumentation  Why can the supervisor job be automated? Approves time, repeated tasks are easy and use instrumentation.  Are they unbiased? Why or why not? Reflect human bias in code/algorithms lead to misinterpretations. How does Digital Dexterity enable an employee to participate in organizational transformation? o Recognize opportunity, design solution, deliver solution, execute. Lets you participate via digital dexterity. IT is also changing dramatically. Be able to briefly explain each of the types of IT changes below: o Bimodal IT. What is it? What are the two modes? Traditional – never wrong, solid, reliable. Experimental – anticipates change. You need both strategies. o Cloud First Strategy – Prefer to use cloud services vs running their own services. Greater rate of software change (Easy updates and feature changes). Increases the need for workforce to change and greater digital dexterity. Pick the “New Role for the Dextrous” that is most interesting to you. Be able to describe that job role and explain what characteristics or skills one needs to be good at it. Roles for Digital Dextrous employees = New media Mogul – Able to use diverse media to persuade and educate, Process Hacker – creative who finds interesting ways to improve business processes, App Savant – person that always finds new apps and combine 

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existing apps in creative ways, Data Maven – find employee date to inform any business situation, Citizen Date Scientist – find hidden gold in data, Citizen Developer – regular employee writing apps for coworkers that are needed now that IT will never get to. Everybody needs tech skills! Gartner analyzed 38 million job postings over the last 4 years and found that there was a 60% growth in the tech skills required for non-IT jobs. Also, 80% of the CEOs that Gartner surveyed think that digital dexterity should be a key requirement when hiring new employees. What does it mean that tech skills have a “half-life”? What’s the solution to this problem? Half life is knowledge is very short. New info comes in a year or so. Don’t be fixated by a single tech. Digital Dexterity is critical for thriving and tech has a half-life. Learn to learn (persistent change = lifetime learner), people must be agile to tech change. Be curious and try new things (investigate). Be creative....