- Engagement Platforms
- yBC Digital Services
- Business TV
If you found this video about embracing digital channels interesting , why not watch more TV shows on the Connected Economy Channel
If you found this video about digital engagement interesting, why not browse more TV shows and briefings on Connected Economy TV.
In this TV show Julie Meyers looks at the business economy as a digital ecosystem.
Well, I do think that in the way that we used to refer to verticals we’re going to be referring to ecosystems in the future. So, we used to refer to maybe healthcare as a vertical and now I think of digital health as an ecosystem.
I think it just means that these are multi-dimensional markets and that you can’t think of it in the same way.
And you have to look at how the digital enablers or start-ups are interacting with the corporates and the process whereby you value any business and the transactions that will get done, whether the funding’s or the acquisitions is going to take on that network shape.
We won’t just look at it and we won’t, I think, attribute so much value to the Goliaths’. I think there will be,you know, in that, those five phases of company growth, the companies that get acquired early for big amounts, like Skype in September 05, why does a company that’s in phase two going into phase three get acquired for 2.5 billion?
It’s because the strategic value to the acquirer was so high. Why does a company like Beat That Quote which had £250,000 of EBITDA get acquired by Google for 37.7 million?
It’s because the strategic value is disproportionately high compared to where they are in those five phases of company growth.So, I just think there’s a set of structures which have become fairly normalised at this point whereby we will analyse what’s going on in the market. And I think that we’ll have to assess – we won’t look at markets in the same way, we have new tools to look at that. And those kind of David and Goliath model five phases of company growth, ecosystem economics, I think these are the ways. I mean, we’ve been looking at this for a very long time and we’re quite convinced now that our set of glasses kind of works. It doesn’t mean that we won’t, you know, explore and develop and understand better and make some mistakes, etc. We had the epiphanies, we looked for the exceptions, we found the patterns and we really do think we have the correct set of glasses. _________________________________________________________________________ Digital ecosystem is yet another way of looking at our world today. Hear more perspectives, ideas and analysis on Connected Economy TV.
In this TV show Thomas Power explains why he thinks the best information management strategy is to be ORS (Open Random Supportive).
A big discovery for me, going back to 2009, was the way the internet or the web behaves and thinks. You, as a human, you have to match it, you can’t make it match you. Primarily, when we’re taught at school, at university, at church, by parents, whoever teaches us teaches us things like don’t talk to strangers, teaches us to behave primarily closed about information – keep it to yourself, be selective about what you read, you notice, you share – and try and be in control of everything in your life – you know, your calendar, your money, your time, your job, your relationships – try and be closed with information, selective with what you use and be in control of everything.
That’s the institutional world that’s trained all of us, at school, at university, at church, wherever. The internet, or the world wide web, is a network, it’s not a hierarchy, it doesn’t have layers, it’s just a lump of glue connected together.
And the environment online is completely open, the web is completely open, it doesn’t have any closed bits. Oh, you can have a VP tunnel through it out of China, fine, you can call that a closed bit, but primarily the infrastructure is an open environment.
There’s no CTO, there’s no Chief Executive Officers, there’s no CFO, there’s no shares on the stock market, it’s the internet. Who runs it? I don’t know, no idea. The data is flowing in it in a random way. People think it’s structured and organised, it isn’t, it’s completely random.
So, it’s very hard to be selective with random data sets and the more you embrace the random the better data sets you get, the more selective you are the more blind you are.
Ironically, being selective makes you blind; accepting the random makes you more aware, ‘cause you’re more engaged in the change, the shift, of the way the data sets flow at you. And then lastly you have to be supportive online, you have to behave like a friend, not like somebody who seeks control or seeks power or seeks to dominate, none of that works online, you have to be very friendly and supportive all the time, to everybody.
Whether you have a relationship with them or not, whether you’re trading with them or not, if somebody asks for help on the internet, you help them. And that shift, from institutional thinking – close, selective, controlling – to network thinking – open, random and supportive – as I say, that took me a long time, ’99 to 2009.
Now, four and a half years of just studying that, teaching, training, coaching, supporting, nudging … and I do think it is more of a nudge than a push.
It’s a long old journey and it’s not like you can sort of get to the end of it and say ‘da da, I’ve nailed ORS, I am ORS, you’re just gradually evolving and evolving and evolving, meanwhile the systems are getting more and more complex around you, the data is getting harder, people are looking at their mobile phones 150 times a day, trying to get context from this phone.
You know, where are my friends, what are they all doing, what location am I in, who am I? You know, we’re being fed from this context machine, trying to understand. And the only way you can deal with the information coming at you from Facebook or Twitter or Linked In or Google Plus or Instagram or whatever you might be using, is to deal with it in an open, random and supportive way.Information management strategy is just one element of the connected economy. There is more expert discussion to come.
If you are interesting in hearing more about business risk, keep an eye Connected Economy TV.
Disruptive technologies that can completely change the way an industry works may be developed by another industry all together. Keith Coats Discusses:
Disruption in business is probably not going to come from within your own industry, and the danger of benchmarking is that we mark ourselves and our progress against those who are running the same race.
There’s a large bank in Africa who rolled out an entire African strategy who, by benchmarking themselves against fellow competitors, that’s all they looked at.
They went into Africa to discover that the biggest competitor to banking came from cell phone technology, or mobile technology, people transacting through their mobile devices, that changes the rules of the game.
So, the principle is this, is if we’re only looking within our industry, at people running in the same race as us, the chances are we’re not going to see the disruption.
And smart organisations today are looking far enough and wide enough outside of their windows to … and asking the right questions to see the disruption that will change the rules of the game.
And our message to big companies who are leaders in their own particular sphere is don’t wait to be disrupted, be the disruption in your own industry, change the rules of the game.
And if you don’t and you become complacent and you focus on business efficiencies, there will come a time when somebody will disrupt your industry and it’s going to come from outside.
Disruptive technologies are huge factor in our connected economy. Connected Economy TV will continue to bring you expert TV shows about this new industrial revolution.