MIS 2101.711 – Jonathan Latko – Summer 2018

Weekly Question #4

Leave your response as a comment on this post by the beginning of class on June 5, 2018. Your response only needs to be about three or four sentences. These weekly questions should reinforce class discussions, readings and show some insight.  

Hint: If you sign into the site using your AccessNet ID and password you won’t have to fill in the name, email and captcha fields when you leave your comment.

Here is the question:

This week, we talked about disruptive innovation & how the rise of technology has completely changed many business and consumer driven actions.  What do you think was the most interesting or important innovation in the last few years?  Why?  What has it done to the original business model? 

Also – there’s an interesting podcast called How I Built This, which details different companies, their strategies & their innovations.  This one in particular is on Lyft and how that company came to be and how it has completely disrupted the taxi/ride sharing industry.  It’s not required, but an interesting listen if you have the time – 

https://itunes.apple.com/us/podcast/how-i-built-this/id1150510297?mt=2&i=1000381136310

 

30 Responses to Weekly Question #4

  • I think the most interesting innovation in the last few years has been IoT/IIoT. This trend still has lots of room to grow and it will continue to scale quickly, until it becomes part of nearly aspect of our every day lives. I think it’s important because it is driving a fundamental shift in how people in developed countries interact with the economy, with hardware, and with other people. It’s only a matter of time before AI becomes more integrated into the IoT, which will create an entirely new “age” as we are surrounded by, and rely on, AI for the first time in human history.

    What the IoT has done to the original business model is to take away even the concept of a virtual store-front. Consumers are now executing purchases at the device/product level. IoT is also increasing automation and eliminating roles traditionally filled by employees; an example of that would be the new Amazon grocery stores where every item is tagged and the customer simply walks out of the store, no cashier necessary.

  • One of the most interesting innovations I have seen in recent times is Facebook. Not only has it transformed social media from the days of Myspace, but it also changed the way businesses operate. If you are a business today its critical to have a Facebook presence. Many people will look for your business on Facebook before they search for your website. As a modern day business, there are so many way to utilize Facebook to drive business traffic. The data that can be yielded from visitors of Facebook far surpasses that of a traditional website. This has helped change business models of many businesses to better target their customers. The data mining that Facebook utilizes is also another avenue that todays businesses can tap into for a better understanding of the perspective customers that a business can target. Additionally, Facebook links to and feeds so many other social media platforms that businesses can take advantage of to increase revenue as well.

  • I found it interesting to see that Netflix uses a long tail distribution chart to identify movie viewer patterns to maximize profit. They can consistently make more off a variety of shows vice relying on “box office” movies. It’s also eerie to see companies like Facebook selling user data to third party companies. After learning that the Facebook App is constantly running on my phone collecting data off all my internet traffic has made me re-think social media. This data collection strategy has made an immense change in the business world, anytime I scroll through Facebook I can see products that I have previously ordered because my data has been sold to marketing savvy companies. On a positive note, innovation led to the invention of the Roomba, which has released me from my duties as the household vacuum operator.

  • Scott Roy I found it interesting to see that Netflix uses a long tail distribution chart to identify movie viewer patterns to maximize profit. They can consistently make more off a variety of shows vice relying on “box office” movies. It’s also eerie to see companies like Facebook selling user data to third party companies. After learning that the Facebook App is constantly running on my phone collecting data off all my internet traffic has made me re-think social media. This data collection strategy has made an immense change in the business world, anytime I scroll through Facebook I can see products that I have previously ordered because my data has been sold to marketing savvy companies. On a positive note, innovation led to the invention of the Roomba, which has released me from my duties as the household vacuum operator.

  • I think the most interesting recent technological innovation is in the creation of ride sharing apps like Uber and Lyft. With the creation of these two platforms, it has enabled consumers to have more options for getting rides at a lower price. By making the system easy to use for the general population, they were able to gain a significant share of the market in a very short time. The creation of these apps has put a significant strain on the traditional taxi market and is forcing them to make changes to adapt to the new, modern environment.

  • I think UBER is a important innovation in the past few years. UBER has changed the way people travel. It is easy to access and cheaper than taking a cab. I used to take a cab everywhere and it is really expensive. It is like 2.10 just to get in and then .35 or something along those lines for every tenth of a block. When you are in a cab it seems like it calculates how long you have been in the cab rather than how far you have gone therefor skewing an expensive ride. UBER has made it cheaper to travel from place to place without paying for expensive cab ride. For example it costs $15 to take an UBER from my house to the stadiums as opposed to a cab which cost $25, and that was a few years ago regarding the cab fare, I am sure its more now. UBER has hurt the cab industry, more and more people are taking UBER over cabs . Not to mention I have noticed more people take UBER’s to bars or anything that involves drinking so they do not have to drive. Its more convenient than the wait time for a cab,.

  • I think that the development of the Apple Watch and FitBit have been an amazing innovation. Something as simple as tracking steps has brought people to be more cognizant of their own health. And then there are the incorporated apps where you can compete with your friends to make it a little bit more fun (or perhaps, to shame you out of not moving). I guess the original business models were simple pedometers, heart monitors, etc. And these have combined all of all of these technologies all into one plus so much more and added in a social aspect as well.

  • I think the most important technological innovation in recent years has been the development and improvement of autonomous cars. Driverless cars have changed the way people and goods travel, and is a completely novel concept. I think it will improve travel safety and efficiency as the software and technology becomes more advanced in the future. This innovation has changed the business models of transportation and automotive companies because they are changing the ways they design and manufacture vehicles. As transportation companies like FedEx and UPS adopt more autonomous vehicles, the demand for drivers will decline and demand for employees who can maintain and monitor the vehicle software will increase.

  • I think one of the most disruptive recent technological innovations has been online shopping and specifically Amazon. The ability to comparison shop has never been greater and is a main advantage of online shopping. Some other attractive features are the ability to specifically search for what you want and have it delivered directly to your house. This has changed the way many people, including myself, shop. In order to stay competitive it is imperative for businesses like retail stores, have an online store. Amazon is growing at an unprecedented rate and penetrating all different types of markets now after starting out as an online store. This shows the power of the innovative idea that they mastered and the way it has changed many marketplaces.

  • Ride sharing technology has been one of the most interesting technologies in recent years. Being able to order a ride from your phone and know exactly when it will arrive has changed the way we travel. These ride sharing apps have applied serious pressure to the taxi industry by bringing the taxi service to your fingertips and eliminating the most hated aspects of cabs while offering the service at a lower price.

  • I believe one of the most important innovations of recent years is AirBnB. Air BnB has changed the way people travel as well as live from our day to do lives as well as our special vacations. Hotels are expensive and there are rules, time limits, restaurant expenses and also sanitary issues. Air Bnb, for the most part eliminates all of that. While keeping in contact with the owner of the house many weeks prior as well as during your stay. You are at ease withe knowing the owner of the house wants you to feel right at home. The entire platform is based off of a rating scale. Each rating determines how well your stay was, as well as the host. The original business model of staying at a resort or hotel has changed. Instead of the jail-like platform of a temporary hotel. Customers get a home like feel while staying in a place they have researched and will enjoy. The business model completely changed from hotels to staying in peoples homes using Air BnB

  • One of the most disruptive technologies I think that have come up in recent years is auto-pilot on cars/driver-less cars. This idea could be the start of a whole new age in terms of driving. From gas powered cars to electric cars and now to driver-less cars will change the car industry as we know it. Originally, car manufacturers marketed things that appeal towards driving; now they may offer perks that gear more towards comfort rather than driving options.

  • In my opinion, the most interesting innovation in the last few years is the self-driving cars. I can just image those things in some fiction films talk about the future. I’m so surprise to see the new model of cars appear today. It would change people’s life a lot. I always feel tried when my mom need me to driving for several hours to the other city far away from my hometown. It may still be a hard thing for today’s self-driving car technology, but i believe a few years later we can see a proven technique in this way, the self driving car can working 4-5 hours and even much safer than people drive it.

  • I believe one of the most disruptive technology that we have today is social media. We go online for just about everything these days on social media to gather news, interaction with our following friends, etc. Social media isn’t just for consumers to connect with their friends, but businesses are taking advantage of using social media as well to promote their products for basically for free. It’s almost like these businesses are advertising their products for free by putting their company for free by putting it on social media. They are many benefits for business to being on social media, they can increase their brand, interact with their audience, open opportunities to sharing their product and it can give them an advantage on keeping up to date on their competitors as well.

  • I think that Amazon is one of the most interesting innovations. Amazon offers so many different products, all in one spot. It offers searching customers the ability to find almost anything all on one site, with just a few clicks of a button. Amazon has made shopping so much easier for not only customers who need normal, common household goods, but for customers who want and/or need obscure, specific, hard-to-find goods. Amazon is not only extremely helpful for customers who want to be efficient by purchasing products from one place, but it is also helpful for the businesses that sell their products on the website! It has brought companies business and attention, simply because their products are sold on Amazon. Overall, I think that Amazon is a brilliant innovation.

  • I think one of the most disruptive innovations is Amazon. Never has shopping been easier, everything you could want now can be shipped to your doorstep for a reasonable fee. Amazon has skyrocketed in recent years because it has crossed into many different markets including food. Amazon is the first to have a check-out free store in Seattle, WA where customers could scan in with there phones and leave with what they want. Although it is only to test it’s target market it could mean major changes in the food industry. Amazon is only just tapping into its true potential.

  • What I find amusing is Amazon’s virtual assistant Alexa, which has various capabilities, such as playing music, providing people with tons of information, the news, setting alarms, making shopping lists, providing weather updates, even ordering food etc. In the last year Alexa was improved to serve as a full blown smart-home platform, which after being told “Good night”, it automatically locks doors, turns off lights, and lowers the thermostat.
    One can even view Alexa as a friend that knows everything and keeps you entertained. Alexa makes life easier and more fun for people and it is only the beginning of this type of human interaction with technology. Looking forward to future inventions.

  • Companies like Hulu, Netflix & Amazon Video have changed the way we consume video media and, as a result, altered the industry business model. This impact has been felt hardest by those companies built on the old model. Companies like Blockbuster, RedBox and AMC/Regal are struggling to adapt. The movie rental business is essentially non-existent, RedBox can stay afloat as result of low overhead, and the movie theatre industry is having to reinvent itself by offering more food & drink options (i.e. Movie Tavern) to entice customers and create a unique experience. This “disruptive” technology, however, has not happened overnight. Over time, however, streaming media has become more popular and profoundly impacted the industry.

  • I like that people are finding ways to make cars drive themselves. I think the change will reduce the number of accidents and traffic jams by a ton. I think it’s going to change how people get licensed to drive and insurance rates. Driverless cars are definitely the innovation I’m most excited about.

  • One of the most interesting innovations is block chain technology. Crypto currencies have the ability facilitate growth in different injuries, especially the insurance industry. It provides a new way to pay catastrophic claims and indemnify clients more quickly than traditional insurance claims payments. Furthermore, because technology and online transactions are so prevalent, it creates a system of ease for customers.

  • I believe that one of the most important innovations in recent years is AirBnB. BnB Aviation has changed the way people travel and has changed our daily lives as well as our special holidays. Hotel prices are expensive, there are rules, time constraints, restaurant expenses and health problems. Most of the air Bnb eliminates all of this. Keep in touch with the homeowner a few weeks ago and during your stay. You know that the owner of the house wants you to feel at home. The entire platform is based on a rating scale. Each rating determines your stay and host. The original business model of staying at the resort or hotel has changed. Not a jail-like platform for a temporary hotel. Customers feel the same feeling when they live in places they studied. Business model completely transformed from hotel to use Air BnB to live in people’s homes

  • What I believe to be amazing is that how modern applications utilize micro-transaction to carry out corporate business. For instance, WeChat, a social network application connects users and their bank accounts or credit card, embedding a QR code system, users could pay their bills anytime and anywhere by bringing up their ‘wallet’s’ QR code on their screen, which is then scanned by the store to take payment from the related account.. Being able to pay without using physical credit card made such feature very innovating. It also drives many social network applications more more business friendly.

  • I believe one of the most important innovations is mobile phones. From a business standpoint they have made finding customers so much easier. People can now reach businesses at virtually any time; whether it be call, text, phone or email. If people are on the go they can look up businesses and such from the palm of their hand. Businesses also have the ability to create their own apps to keep their customers connected and informed.

  • I believe one of the most important innovations over the past few years has been the development of ways to stream TV without having to be on cable TV. This has enabled people to watch games or their favorite tv shows on-the-go and is a cheaper way to watch TV compared to buying a cable subscription. It has also led to more development in the phone app and smart tv industry as online streaming is shifting towards the way of watching TV through apps instead of a cable subscription.

  • I believe one of the biggest innovations in the past few years is the development of Uber and Lyft. Regardless of which one came out first, who would’ve thought the introduction of being your own boss, driving people around, would’ve been such a hit. It took away from having to drive a taxi and paying a lease on a taxi vehicle or even buying out a medallion to using your own car to provide a service in which you get paid for. It took away from the taxi business and gave a lot of individuals who have busy schedules, whether it be family or other personal needs, the ability to make a taxable/reportable income. I believe innovations like this are huge, conceptually speaking. More innovative ideas like these are what are helping contribute to our economy and helps keep the economy in good shape.

  • I think that the most interesting technology that have been created are Facebook, Netflix, Uber, Lyft, Hulu, etc.
    Netflix and Hulu uses various movies from all over the country. It consist of variety of shows from box office movies, etc.
    Facebook is one of the best social media that I used the most cause I have family all over the world India, Australia, Florida, Texas, Atlanta, etc. And the best thing is by using Facebook I can keep in touch with family and friends no matter how close or far they are. It has help change business models for businesses which helps then decided who their target is.

  • I definitely think that Uber and Lyft have been two of the best innovations within the last few years. It is much more convenient to have apps right at your finger tips that allow you to simply put in the address of where you want to go and someone will be able to track your location to take you straight there. With regular taxi services you’ll need to call and sometimes explain to them where you want to go because they can’t track it in there GPS. In this day and age it’s all about being fast and convenient and these apps make getting to where you need to go much easier.

  • I think innovation and new technology are positively impacting business across the world. With new technology business are able to communicate internationally through social media and other forms of communication that technology had brought. Among this technology you are able to process information through websites such as google analytics and facebook. Other systems that are impacting business are things like webex, we are all able to be in different locations around the world and come together through the internet to communicate.

  • I believe the most interesting and important innovation in the last few years is Uber and Lyft as many others in this post can agree with me. Many people use Uber or Lyft on everyday basis; whether you’re the driver or riding in one. It provides convenience and safety. It is convenient because they’re everywhere and way cheaper than your average taxi service. It also provides safety because many of us drink alcohol and drunk driving is not acceptable.

  • Netflix to me is one of the most interesting innovations in the last few years, particularly their online streaming capabilities. It developed a whole new market which allowed movies and television to be seen through the same thing. Also content is readily available as soon as you log in. It has definitely changed the television and movie industry and other companies have responded like Amazon for example.

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