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EMPOWERING LIVES - CREATING VALUE FOR THE YOUTH THROUGH INFORMATION
TECHNOLOGY AND INNOVATION April 2018
How can young people create value for themselves from new realities and
opportunities through the effective leveraging of information, technology
and innovation?
Organised by:
Transformative
Development
Capacities (TDC) &
DaySeven Group
Objectives
How can young people create value for themselves by using information, technology and innovation to reduce transactional costs, and improve processes and productivity?
Change your thinking
Context
McEdward Murimbika - 2018 Innovation & Entrepreneurship - WBS
•Demographic trends
•Expertise trend
•Attention trend
•Democratic trend
Common societal trends transforming Global Society?
To become a successful Entrepreneuer/innovator You need
the approach and mindset of designer.
You need Design Thinking to Connect to Human Experience
in all its sophistication & complexity.
• Collaboration in multidisciplinary teams.
Engineering, business, design, social sciences should be
combined as they are combined in our real life experience;
• Ability to tackle ill-defined problems.
Systematic approach to work with qualitative information –
“finding it, gaining insights, organizing it optimally for
conceptualization, evaluation and communication”*;
• Co-creation with your customer new business models,
new markets and, ultimately, a new world.* Charles L. Owen Design Thinking: Driving Innovation
Two ways of thinking, two modes of seeing
Context
McEdward Murimbika - 2018 Innovation & Entrepreneurship - WBS
TECHNOLOGY
Technology developmentModern economic system from the 1st to 4th Industrial Revolutions have been based on 3 foundations –
• Energy,
• Communication and
• Transport
Technology is the thread that holds them all - It is central to the facilitation of high-growth opportunities.
Technology plays a big role in securing and nourishing competitive
advantage
Underscore the need for entrepreneurs to keep up with technological
advances
Information is currently one of the most potent competitive weapons
Understanding technology
• Technology = application of science to solving problems or improving operations, especially in industry
• Technology = means to convert inputs into outputs• Dorf and Byers (2008) provide seven key characteristics
of a new basic technology:
- Functional performance
- Acquisition cost
- Ease of use
- Operating cost
- Reliability
- Serviceability
- Compatibility
Understanding technology (Cont.)
• Dorf & Byers (2008) identify 9 categories of opportunity
created by technology:
- Increasing value (product/service)
- New applications
- Mass markets
- Customisation
- Increasing reach
- Managing supply chain
- Convergence of change
- Process innovation
- Increasing the scale of the firm.
Types and forms of technology
• Online technologies - based on the internet
• Computer and mobile technology - includes PCs,
laptops, smartphones, tablets
• Software - ‘symbiotic technology’ which increases
functionality and drives other technologies
• ‘Apps’ - software application programme that performs
very specific function for end-user, usually from internet
to smartphone or tablet
• Manufacturing technologies - include machinery for
making particular products plus design software, e.g.
CAD or 3-D printing
Categories of technology
• Base technologies - common to all players in a particular industry, e.g. sewing machines inclothing
• Key technologies - unique to handful of
players because of cost, accessibility and
level of skill required, e.g. nuclear-associated
technologies
• Pace technologies - have potential to
revolutionise an industry. Can also be called
“emerging technologies”, e.g. renewable energy,
artificial intelligence, biotechnology,
nanotechnology, etc.
Exponential Technology
Exponential growth in the InternetTechnology more powerful, becoming cheaper and
Accessible
Moore’s Law, processing power of microprocessors effectively
doubles every 18 months
Metcalfe’s Law, states that the value of a network will
increase with the square of the number of its participants
South African entrepreneurs should consider an e-commerce
strategy.
The disruption theory of Singularity University’s co-founder Peter Diamandis is playing out across industries:
As technologies become digitized and thus able to dematerialize existing products and solutions, there is potential for them to become democratized, which could threaten the market positions and demonetize the margins of existing players.
6Ds of Disruptive Technologies
1. “Digitalization” – The chain reaction resulting from advances in information technology starts here and makes collaboration easier.
2. “Deception” – Growth is so tiny at this stage that it’s hard to see and appreciate.
3. “Disruption” – The impact of an innovation becomes obvious to a larger audience. At this level, “either disrupt yourself or be disrupted by someone else.”
4. “Demonetization” – This means “the removal of money from the equation.” Chris Anderson, former editor of Wired and the author of Free, writes that giving stuff is “one of the easiest ways to make money.” He is also a beneficiary of “free”: he uses an inexpensive netbook not a laptop, runs a free Linux operating system and free Google Docs, and taps into free Internet access at a coffee shop.
5. “Dematerialization” – Once-solid objects take less-solid forms. The typical cellphone now carries software apps that would have cost $900,000 retail in the early 1980s.
6. “Democratization” – At this stage, the hard costs of buying and owning a piece of equipment drops so low that just about anyone can afford it.
Source: Peter H. Diamandis and scientist Steve Kotler - Abundance - getAbstract © 2015
Law of Disruption
Source: PwC analysis in ‘Sizing the Prize’ report on AI (June 2017)
Source: PwC analysis in ‘Sizing the Prize’ report on AI (June 2017)
Technology and Competitive
Advantage
Technology
Competitive
Dynamics
Competitive
AdvantageValue
Creation
Imagining Incubating Demonstrating Promoting Sustaining
Creating unique
product ideasProving product
viability
Build
prototypes
Build products &
introduce to
markets
Build markets
& improve
products
Find interested
people & money
Find resources to
build prototypes &
identify markets
Build initial
markets &
plan market
expansions
Develop
market growth
strategies
Product
planning
steps
Business
planning
steps
Technology Commercialization Process
Resource Needs
People Small Moderate Medium Large
Physical None Moderate Medium Large
Financial None Moderate Large Largest
Context
McEdward Murimbika - 2018 Innovation & Entrepreneurship - WBS
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