March 12th, 2008
It is important to realize when our products are not of interest for our main customers anymore. If we fail to realize this, we face a high risk of losing our core customers - competitors may then come in and steel market capacity from us.
We must learn from failures of previous incumbents and recognize warning signs of “capability oversupply”. Identify lower demand customer segments (especially emerging markets).
Wednesday, March 12, 2008
Alpha Geeks
What is an Alpha Geek? Find out more on O`Reilly's website: http://radar.oreilly.com/about/
"At O'Reilly, a big part of our business is paying attention to what's new and interesting in the world of technology. We have a pretty good record at having anticipated some of the big technology developments in recent history. For instance, we launched the first commercial Web site, GNN, in 1993"
"At O'Reilly, a big part of our business is paying attention to what's new and interesting in the world of technology. We have a pretty good record at having anticipated some of the big technology developments in recent history. For instance, we launched the first commercial Web site, GNN, in 1993"
Joint Development & the misuse of google docs
March 11th, 2008
We looked at the different roles of customers and suppliers as co-developers of product ideas in an “entrepreneurial ecosystem”. There is a lot of value of co-development with innovative customers or user; however it is not always captured by the companies. Try to target the right user groups and adjust the process and incentives. Furthermore we looked at open source as a radically different form of development; here customers take significant development responsibility.
During the course, we worked on a group assignement - only using a shared google document to communicate about the handling of the project. The document was very quickly abused by some participants. Nevertheless, we managed to work on the project and come up with a presentation. My teammate Alexa http://www.hongkonglexy.blogspot.com/ did a great job and put the rather chaotic group work in a beautiful presentation.
We looked at the different roles of customers and suppliers as co-developers of product ideas in an “entrepreneurial ecosystem”. There is a lot of value of co-development with innovative customers or user; however it is not always captured by the companies. Try to target the right user groups and adjust the process and incentives. Furthermore we looked at open source as a radically different form of development; here customers take significant development responsibility.
During the course, we worked on a group assignement - only using a shared google document to communicate about the handling of the project. The document was very quickly abused by some participants. Nevertheless, we managed to work on the project and come up with a presentation. My teammate Alexa http://www.hongkonglexy.blogspot.com/ did a great job and put the rather chaotic group work in a beautiful presentation.
Tuesday, March 11, 2008
Collective Intelligence or the Jelly Beans experiment
March 6th, 2008 - Session 5
Collective Intelligence deals with using the "wisdom of the crowd" to make very exact predictions. We made the Jelly Beans experiment - estimate the number of jelly beans in a sealed glas. The whole class made predictions and we had one clear winner - yeah, Paul - how did you estimate exactly the right number??? - and several close estimations.
Additional information on:
http://www.youtube.com/watch?v=UwfISTI3CBo
Collective Intelligence deals with using the "wisdom of the crowd" to make very exact predictions. We made the Jelly Beans experiment - estimate the number of jelly beans in a sealed glas. The whole class made predictions and we had one clear winner - yeah, Paul - how did you estimate exactly the right number??? - and several close estimations.
Additional information on:
http://www.youtube.com/watch?v=UwfISTI3CBo
Knowledge Management - The "wiki" way
March 6th, 2008 - Session 3
Knowledge Management - a great example is Wikipedia - visit www.wikipedia.org for learning about this great knowledge management example.
Wikipedia takes advantage of light knowledge.
The goal is to make knowledge input, modification, and access very easy (low transaction cost).
Rely on a network or people to create a large meaningful aggregate asset out of many small chunks of light knowledge.
Provide technology and techniques to aggregate, integrate, improve.
Did you know the meaning of the word "wiki"?
“wikiwiki” is derived from the Hawaiian language and means fast.
Wiki is the technology to write and maintain web pages in collaboration: fast, simple, immediate, where knowledge can be added or corrected by anyone.
The Wiki way: Norms for wiki design and collaborative wiki content creation.
Knowledge Management - a great example is Wikipedia - visit www.wikipedia.org for learning about this great knowledge management example.
Wikipedia takes advantage of light knowledge.
The goal is to make knowledge input, modification, and access very easy (low transaction cost).
Rely on a network or people to create a large meaningful aggregate asset out of many small chunks of light knowledge.
Provide technology and techniques to aggregate, integrate, improve.
Did you know the meaning of the word "wiki"?
“wikiwiki” is derived from the Hawaiian language and means fast.
Wiki is the technology to write and maintain web pages in collaboration: fast, simple, immediate, where knowledge can be added or corrected by anyone.
The Wiki way: Norms for wiki design and collaborative wiki content creation.
Session 2 - prediction markets
March 5th, 2008 - Session 2
Predicting the future with prediction markets
The idea for prediction markets came from dealing with stock markets. The first experiment was on political stock markets where you could trade candidates (late 80s) by the University of Iowa.
Companies like HP wondered whether they could use those forecasts.
In 1988, HP started an experiment with their sales people to see whether they could predict sales for their printers. They created stocks that represented how many printers would be sold. Predictions from the market were better than the official forecasts from the company. That created huge interest for the prediction model.
Most of the applications are used for predicting sales and prices.
The Predicting model
Maximum value stock is traded at is 99.
When price is at extremes, there seems to be a lot of volume in the market.
We registered with an own account and are currently trading on this prediction market. After a rather bad start with a loss of several hundred dollars, I finally made quite a profit. Today I had some cash left and invested on a few markets. It is impressive to see how this model functions.
More information can be found at:
http://us.newsfutures.com/home/home.html
Predicting the future with prediction markets
The idea for prediction markets came from dealing with stock markets. The first experiment was on political stock markets where you could trade candidates (late 80s) by the University of Iowa.
Companies like HP wondered whether they could use those forecasts.
In 1988, HP started an experiment with their sales people to see whether they could predict sales for their printers. They created stocks that represented how many printers would be sold. Predictions from the market were better than the official forecasts from the company. That created huge interest for the prediction model.
Most of the applications are used for predicting sales and prices.
The Predicting model
Maximum value stock is traded at is 99.
When price is at extremes, there seems to be a lot of volume in the market.
We registered with an own account and are currently trading on this prediction market. After a rather bad start with a loss of several hundred dollars, I finally made quite a profit. Today I had some cash left and invested on a few markets. It is impressive to see how this model functions.
More information can be found at:
http://us.newsfutures.com/home/home.html
Getting to know about "Tech Innovation"
March 5th, 2008 - Session 1
Technology Innovation - what a great learning experience, from the very first moment on. My expectations were exceeded...
So what did I learn on the very first day - what is Technology Innovation about?
Clearly, strong IT focus and much about innovation processes, innovation results and innovative thinking.
The course is a great mixture of lecture, internet usage & online research, individual and group assignments. All material can be found on: www.gemba.us
What are the basic principles of Technology Innovation?
It is to think or behave differently in your working and study environment - we talk about technology-embedded learning - oh yes, just writing this very first blog is a great example of technology-embedded learning!
Our prof Chris gave us a book recommendation on this subject - for all who want to find out more about it - here is some information:
http://www.gladwell.com/blink/
“Blink: The power of thinking without thinking”
Publisher: Little, Brown and Company
Hardcopy
ISBN-10: 0316172324
ISBN-13: 978/0316172325
Audio CD
ISBN-10: 1586217194
ISBN-13: 978/1586217198
Technology Innovation - what a great learning experience, from the very first moment on. My expectations were exceeded...
So what did I learn on the very first day - what is Technology Innovation about?
Clearly, strong IT focus and much about innovation processes, innovation results and innovative thinking.
The course is a great mixture of lecture, internet usage & online research, individual and group assignments. All material can be found on: www.gemba.us
What are the basic principles of Technology Innovation?
It is to think or behave differently in your working and study environment - we talk about technology-embedded learning - oh yes, just writing this very first blog is a great example of technology-embedded learning!
Our prof Chris gave us a book recommendation on this subject - for all who want to find out more about it - here is some information:
http://www.gladwell.com/blink/
“Blink: The power of thinking without thinking”
Publisher: Little, Brown and Company
Hardcopy
ISBN-10: 0316172324
ISBN-13: 978/0316172325
Audio CD
ISBN-10: 1586217194
ISBN-13: 978/1586217198
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