Digital Business

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Predicting the Future: How to Engage in Really Long-Term Strategic Digital Planning

  • Blog
  • Read Time: 5 min 

Companies need to look at their digital strategies over a 10 – 20 year timeframe. The trends that are beginning now, no matter when they materialize, could be significantly disruptive for all businesses. One of those — self-driving cars — will affect some industries more than others, including auto dealers, manufacturers, government, retail, and real estate. An increasingly digital competitive environment demands developing both short- and long-term digital strategies.

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MIT for Managers: Goodbye Traffic Lights?

  • Blog
  • Read Time: 4 min 

The next time you’re sitting at a red light, savor the moment. If researchers from MIT’s SENSEable City Lab and the Ambient Mobility Lab have their way, your hours of waiting at traffic lights could be numbered. In an article published in PLoS One, a team led by MIT’s Carlo Ratti and Paoli Santi describe a system in which automobiles and transportation infrastructure would interact though an algorithm that would manage the safe flow of cars through busy intersections.

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Rethinking the Value of Customers in a Digital Economy

  • Blog
  • Read Time: 6 min 

Research by MIT IDE Research Fellow Michael Schrage offers new insights into platform markets and network effects. Schrage postulates that the impact and influence of network effects is essential to understanding sustainable value creation in digital markets worldwide — especially, the value of customers and clients.

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Mass Customization and the Do-It-Yourself Supply Chain

  • Blog
  • Read Time: 5 min 

With the help of third-party developers, customization is shifting from the producer to the customer. While Industrial Age customization did enhance options for different customer preferences, those options were hardwired into a firm’s supply chain in ways that preserved efficient scale. Customers could choose only from those options that a firm had already programmed to deliver through established supply chains. Digital Age customization allows customers options outside the boundaries of a firm’s traditional supply chain.

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Customizing Your Social Strategy to the Platform

  • Opinion & Analysis
  • Read Time: 2 min 

Companies that want to draw innovation ideas from social media need customized approaches. An approach that works on Facebook, for example, is different from one that works on LinkedIn. Companies also should emphasize the “social” by helping users create or enhance relationships. Companies that do this often benefit through people’s subsequent engagement with the company’s online innovation activities.

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Tech Savvy: Is It Time to Build Your Own Platform?

  • Blog
  • Read Time: 8 min 

If you really want to create value, forget about burning platforms and start building them. A platform, explain professors Geoffrey Parker and Marshall Van Alstyne, and Sangeet Choudary, founder and CEO of Platform Thinking Labs, in Platform Revolution: How Networked Markets are Transforming the Economy and How to Make Them Work for You, is a “business model that uses technology to connect people, organizations, and resources in an interactive ecosystem.”

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Where Digitization Is Failing to Deliver

  • Interview
  • Read Time: 8 min 

It has become a truism that the pace of work is faster than ever, as digital technologies speed up communication and operational processes in a story of unending progress. But increased speed has not translated into increased rates of productivity growth. Since 2004, growth rates have slowed not just in the US but across the world. Chad Syverson, J. Baum Harris Professor of Economics at the University of Chicago’s Booth School of Business, explains what the implications are, and why the benefits of new technologies are not straightforward.

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Finding the Right Role for Social Media in Innovation

Social media provides a game-changing opportunity to support new product development. But taking advantage of the opportunity requires more than just a Facebook presence with a loyal base of “friends.” To use social media for innovation, organizations need clear strategies and objectives. They also should look beyond social media used by the general public to lesser-recognized platforms, such as special user forums or expert blogs, for especially valuable user-generated feedback.

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Just How Smart Are Smart Machines?

Managers don’t expect to see machines displacing knowledge workers anytime soon. Instead, they expect computing technology to augment rather than replace the work of humans. But in the face of a sprawling and fast-evolving set of opportunities, what forms should that augmentation take? Davenport and Kirby, authors of “Only Humans Need Apply: Winners and Losers in the Age of Smart Machines,” examine what cognitive technologies managers should be monitoring closely and what they should be applying now.

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Crowd-Based Capitalism? Empowering Entrepreneurs in the Sharing Economy

  • Interview
  • Read Time: 12 min 

NYU Stern School of Business professor Arun Sundararajan is excited about the sharing economy. Although the sharing economy presents challenges for both corporations and start-up peer-to-peer marketplaces, Sundararajan sees a host of benefits for what he calls “micro entrepreneurs.” In an interview with MIT Sloan Management Review, Sundararajan discusses the challenges of ensuring success with this alternative business model — and steps companies can take to make sure they’re not left out.

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Cognitive Technologies: The Next Step Up for Data and Analytics

This free on-demand webinar offers context for understanding cognitive technology offerings. It focuses on what technology capabilities will be available — and what tasks will still require human input. Topics include artificial intelligence, automation, and business rules for making cognitive technology functional. Presenters Thomas H. Davenport and Julia Kirby are co-authors of the forthcoming book Only Humans Need Apply: Winners and Losers in the Age of Smart Machines.

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Halting the Corporate Brain Drain

  • Blog
  • Read Time: 4 min 

Companies often don’t know what their employees’ experience contributes until employees leave, taking their unique knowledge assets with them. But digital tools have the potential to reshape the relationship between organizations and retiring employees. First, when used for collaboration, advanced social media platforms can record all interactions between employees and preserve them for later use. And second, digital platforms introduce the possibility of redefining the relationship companies have with retired staff.

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Tech Savvy: March 3, 2016

  • Blog
  • Read Time: 3 min 

This week’s Tech Savvy looks at what’s happening in wearables at work, virtual reality in hiring, enhancing big data ROI, and digital transformation preparation. For instance, in a Netherlands warehouse, employees wearing smart glasses to pick orders show a 25% improvement in efficiency. And in big data, Wharton’s Eric Clemons notes that “Where big data analytics may create local fiefdoms, online social networks create distributed pockets of autonomous connection, affiliation, and even affection.”

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Tech Savvy: February 26, 2016

  • Blog
  • Read Time: 4 min 

Peter Drucker defined the work of business leaders by three principal tasks: delivering financial results, making work and workers productive, and managing a company’s social impacts. Technological advances have transformed — and continue to transform — the world in myriad ways since Drucker published that definition in 1974. But technology hasn’t changed Drucker’s tasks. Instead, it is giving rise to new and better ways of executing them. This new column aims to help you identify big ideas and new tactics at the intersection of technology and management.

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Turning Content Viewers Into Subscribers

Content websites can more readily convert site visitors into paying customers by prompting visitors to gradually increase their social engagement with the site — using a concept the authors call the “ladder of participation.” This means thinking strategically about using site engagement to improve conversion. It also means taking an active role in encouraging users to climb the ladder of participation and move quickly up its rungs.

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Will the Internet of Trees Be the Next Game Changer?

  • Interview
  • Read Time: 9 min 

Unlike agriculture, where cutting-edge technologies are being aggressively adopted, forestry and its related industries are something of a technology laggard. But the prospect of the industry using sensors in the field, both in sawmills and even embedded within trees themselves, is emerging. Eric Hansen and Scott Leavengood, both professors at Oregon State University’s Wood Science and Engineering department, discuss how the Internet of Things could help drive efficiency and improve quality in the forestry sector.

Showing 1-20 of 86