What is disruption? Ans- “To cause something to be unable to continue in its normal
routine” this can be either a treasure or a tumult
Technology is a disruptor – what does that mean? Ans- Tech creates both treasure and
tumult. These disruptions will accelerate, impact organizations, careers, and job
functions throughout your lifetime.
Technology has caused normal routines to change completely
Advertising Ans- print ads are practically out, Google alone has more ad revenue than
all of print
Causing the trust of ads to decrease
Education Ans- Online classes\/Universities are taking away from the “traditional”
schooling
Financial Services Ans- Majority of banking can be done via apps
Credit Card Machine – “Square”
Journalism Ans- Professional writers aren’t being hired by news companies, because
they hire external bloggers
Wikileaks
Retail Ans- Traditional stores taking a hit by online shopping companies
Share Economy Ans- Alternative ways to hotels, music, rental cars, taxis
For video rentals, music industry, and higher education be able to explain\u2026
What was the normal way of doing business? Ans- Go to a brick and mortar store like
Blockbuster, which included uncertainty, long lines, and late fees
For video rentals, music industry, and higher education be able to explain\u2026
What was the tech change? Ans- Netflix came with “same but different” change. It
implemented highly efficient distribution centers which shipped and received videos.
Their entire catalogue and recommendations were all on their website.
The way the content was delivered changed. Netflix recognized that CD’s weren’t the
future, so changed to streaming media across the internet
What was the treasure outcome for some and what was the tumult outcome for others?
Video Rentals Ans- Treasure Outcome: Netflix
Tumult Outcome: Blockbuster
Netflix is one of the highest grossing streaming platforms and Blockbuster only has one
store left globally
What was the treasure outcome for some and what was the tumult outcome for others?
Music Industry Ans- Treasure Outcome: Digital music platforms (iTunes, Spotify)
Tumult Outcome: Physical music
But in terms of whole album sales, physical music is the treasure and digital music is
the tumult because most people don’t digitally buy an entire album, they usually only
buy a single song
What was the treasure outcome for some and what was the tumult outcome for others?
Higher Education Ans- This is both a treasure and tumult for the universities that are
willing to adapt to changes in technology because it allows them to have more students
no matter where the students are; however, it also means that there may be a time
where physical universities are only available to people who are well off or won’t exist at
all.
Be able to define the term “share economy” and give an example.
Share Economy Ans- Refers to a phenomenon whereby asset owners can use digital
clearinghouses to rent the unused capacity of assets they own and consumers rent from
their peers rather than buying or renting from a company
How does IT bring asset owners and consumers together in the share economy? Ans\u0002By using Digital Clearinghouses to rent from their peers instead of companies.
How is the share economy disruptive? Ans- It disrupts the new normal between
consumers and rental businesses.
Briefly explain four key factors causing these disruptions:
Moore’s Law
\u2026and who is the tech pioneer who proposed Moore’s Law? Ans- The observation that
computing power roughly doubles every two years at the same price
Gordan Moore (Intel co-founder)
Briefly explain four key factors causing these disruptions:
Moore’s Law
Be able to explain what Moore’s Law says. Ans- Every 2 years, the abilities of our
electronic devices will double while staying at approximately the same price as time
goes on
This also means that a device that has a constant amount of abilities or power will be
twice as cheap every 2 years
Briefly explain four key factors causing these disruptions:
Moore’s Law
Some products only need a small amount of computing power. How does Moore’s Law
make these products more affordable over time? Ans- Cost for CPU has become
cheaper and cheaper over the years.
Briefly explain four key factors causing these disruptions:
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. Ans- The population of people using facebook is 2.4 billion –
Facebook in size is just behind China and India
Users share their purchases, domino effect (55%)
Relationships\/Divorces
Generates about twice the leads as shows, telemarketing, mail
Briefly explain four key factors causing these disruptions:
Mobile
What is the tipping point and why is this important? Ans- Billions of people use phones
for social media
$3.2 trillion in mobile transactions<\/p>\n","protected":false},"excerpt":{"rendered":"
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