Blockchain Innovations

I have been researching and reading about this new technology, which is one of the main components of Bitcoin, the cryptocurrency.

Blockchain as a technology is a new development in Information Technology, it requires an understanding of programming as well as basic accounting, such as what is a ledger.

It is founded on smart contracts, contracts which through algorithms enter automatically in function, as well as distributed ledger, a ledger which is controlled and shared among anonymous parties.

So what is a blockchain?

As the name implies, informations is held in packages then shared among multiple anonymous users, which verify their informations.

This informations are held not on a single storage but among immediate intermediaries.

How is Blockchain related to Innovation?

Blockchain as an innovation is related to how the storage and the flow of informations will happen. It changes how business conduct themself, as now transactions happens through intermediaries, in the blockchain, the transaction is direct, but the trust system is shared.

Is innovative because this influences various industries, such as Healthcare, Banking, Finance, Energy, among others industries.

How it relates to what I do?

In principle i am a newbiee, a new user of sharing communications, and my work is on establishing what can be of advantage to my business and my future. I believe that this new technology has a potential of changing many industries, and currently many are working on development of blockchain and cryptocurrency as a mean of staying competitive, although its development is complicated and costly, i believe that a sustainable competitive advantage can be reached if this technology will be implemented with sustainable resources and energy solutions, thus in my case, is good as it gives many future opportunities of work.

How much this development cost?

I found various prices on the internet, from $3500 for smart contract and token development by polygant, to $500 000 for a full Initial Coin Offering, this is an enormous cost, and i believe in the future the cost of development will decrease, but for now is better to observe.

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Blogging Tuesday

What this blog post is about?

Mainly this post is about blogging, as I will dedicate this section on a guide on what to write and how to post content that is found on the internet.

1. To start a blog has to have a title, in this case, the blog title is:

BlogExperts

2. A headline

A little word from the web.

3. Registration for the blog on WordPress or another host.

4. Customize the Blog by choosing a theme.

5. Write and post some content:

And some content, in this case, Blogging Tuesday. Or Strategy Friday.

6. Promote your blog:

For promotions I will discuss with a different thread in regards on how to plan for internet marketing.

7. Make money via advertising and affiliate marketing.

Strategy Friday #4 Blockchain as an open innovation

Recently I have been reading a lot in regards of Business and Management, as a difference to the regular approach to corporate visits, which is something I would enjoy doing, however, haven’t been contacted to visit them and be given insight.

So for this reason, if you enjoy reading about business, and would like a better insight, why not engage me in real person for a visit.

Anyhow, today topic is something of a passion in which I have invested a little and have the chance of being around of extraordinary circumstances and people who are in the business.

Today topic is in reference to Blockchain, a technology which is pure open innovation, something which has many applications, from Government with e-Government projects to the energy sector.

Blockchain, I have been reading in Don Tapscott book, can be an innovative solution for the future 100 years.

Already advertised on TV through TV shows, it’s applications are many.

The most interesting perhaps is the electrical utility concept, as it can improve the situation of many countries, for example, Iraq, in which electricity offering is not stable and many people use Diesel Generators, this polluting the environment and raising the global temperature, in which during summer reaches to over 50 degrees Celsius.

Blockchain used for electrical metering can notify immediate power outages and surges, as well as allow for smart metering.

Blockchain with the internet of things can be a success story which allows for future generations to reap the benefit.

I imagine a future where most of the energy is renewable this not polluting, or only minimally. In conclusion, strategically speaking, Blockchain is an enabler technology and a gateway to future technology.

#Strategy Friday #3 Edge Strategies

Welcome to my blog, where I discuss everything from Innovations and Strategy.

Today topic is about competitive strategy and corporate strategy.
More precisely on how resources and competencies align with customer requirement and corporate strategy.
This topic is still in review, but I decided to publish part of the reading which I am doing.
Companies to succeed need to align their offering with what costumers and consumer requirements.
By aligning their product edges, as defined in their book Alan Lewis and Dan McKone, corporations can gain more profit from their buyers.
By asking questions such as, what else is possible to do, and what current capabilities align with what the buyer search, companies can improve their marketing strategies.
This is seen in the first edge, product edge.

(taken from edgestrategybook.com)

Product Edge

In the book, it is given the example of Best Buys and Geek Squad, but in Europe, Best Buys (or better explained, as the customer support for installing a TV at home by the customer premises) is not present, so I’m going to provide the example of Apple and their Genius Bar.
Whenever buying an Apple Product, at an Apple Store, Apple provides some small technical knowhow introduction via their Genius Bar, a service which is complimentary but not obliged to offer so that can facilitate the implementation of their product in businesses. So from that they earn the happiness of new costumers which appreciate the sale of this complementary service.

#Journey Edge
#Enterprise Edge

Last but not least, is the Enterprise Edge, which in the book is defined as finding new revenue through existing capabilities. The example provided in the book is Toyota and the sale of its GPS Data to municipalities for traffic coordination.

Open Innovation VS Closed Innovation

Welcome to my blog, in this blog i discuss about innovation, management and business strategy.

Today topic is a discussion between a concept in innovation that is defined as type of innovation strategy.

Nowadays, innovation discussion is clearly a critical dimension in any dynamic approach to business, as it allows businesses to achieve and defend competitive advantage.

Closed innovation, is the more classical approach to innovation, and in such, it develop patents, (intellectual property, licenses and grants) through formal means, and closed corporations.

Open Innovations is more related to the development of technology through adiacent and common techniques, such as outsourcing, competition establishing, and game theory.

Open Innovation, as defined by Dr. Henry Chesbrough in his book, is: “the use of purposive inflows and outflows of knowledge to accelerate internal innovation, and expand the markets for external use of innovation, respectively. Open Innovation is a paradigm that assumes that firms can and should use external ideas as well as internal ideas ideas, and internal and external paths to market, as they look to advance their technology. (Chesbrough, Open Innovation, p.2).”

Here is a graph of the two distinct type of innovations as explained in his book.

Graph explaining the different type of innovation strategy.

In the past i had the privilege of working for a short time period in both type of organisations, closed ones and open ones. I wont say which organisation for reason of privacy. But they were large organisations.

In both organisations the important aspect was the development of work in which was happening. I noticed immediately that in the open innovative business communication was more open and the setting of collaboration was more direct, whereas, the type of collaboration in closed innovation was more secretive, as patents and new research and development techniques were happening.

Personally i preferred the open innovative business, which allowed to learn new skills such as Wiki development and learning Marketing first hand and people skills. Working in open innovative companies is like working for a new startup, in which capital is limited, but passion is everywhere, and there is will to improve even when there are limited resources, whereas working in closed innovative companies is challenging as resources are present, but competition drives the work.

Today topic is more of a self reflection and less of a guide, compared to previous topics.

However, I will post a second article about Edge Strategy soon, as I am reading a book about it, and will be related to Corporate Strategy.

Strategy Friday

Hello and welcome back to Strategy Friday, the place where i discuss strategies theories for organisations.

Today topic is about the theory developed by professor Micheal Porter from Harvard Business School.

This theory is used widely by organisations as a contrast to the Blue Ocean Strategy.

I will discuss the Blue Ocean Strategy in my future post, but just keep in mind, that Blue Ocean Strategy is more about how to compete than what to compete.

Micheal Porter in his theory goes and analyses the functions of businesses from the Macro level, seeing the forces which influence the marketplace, and went to expand his theory also to Countries.

The main forces influencing business are: Supplier Relations, Buyer Power, Possible Product Substitutes and the Threat of new entry from other businesses, all influencing the competitive marketplace.

A useful picture is provided by Mindtools in their website, in which define the strategic tool and what to analyse.

Classical example of this analysis is used in the airline industry, however, is applicable also to other industries such as the mobile phone industry, where the supplier relations is the whole manufacturing supplier relations, thus for Apple can be the supply of chips from Foxconn, the threat of new entry is high as businesses enter the market developing new products constantly, the buyer power is also very high as, purchase is seen almost as a commodity in which one phone does not vary a lot from others, but to contrast that, Apple has a large brand conscious clientèle and to conclude the competitive landscape, is very competitive, thus having all functioning like a chain in which the gears run very fast.

Screenshot 2019-05-03 at 21.51.45.png

Digital Disruptive Technologies

Today’s topic of innovation management goes and discuss an important trend started by a research of Harvard Professor Clayton Christensen.

The topic is one of Technological Disruption. The main force, which allows small incumbents to compete against large players in the marketplace.

Not everybody is aware of this trend in Innovation Management is almost 30 years old, started in 1995 goes and analyses various technologies and industries in which innovations have brought to its knees big corporations.
As discussed in his introduction in the Innovator Dilemma, companies often fail because there are cheaper new technologies which allow targeting future customers revenue, even if at the time of the release of the original product they are unaware of the latest Technology.
Clayton divided its book into ten chapters and discussed in the first chapters about the failure to implement these new innovations.
At the same time, goes and proceeds by explaining success strategies in the field of business.
It’s essential to notice that most of the literature is wrong to target only to failure, but he builds his case against valid points. There are other schools which also sustain his thesis, which, define that most often is the management fault of big companies which make the company fail to implement or develop new technologies. In recent times, it is explained that this failure in management is not only due to new cheaper Technology, but also because successful companies try to compete in new market segments which are not ready.
There is a rationale behind all that, and that with the advent of the disruptor, the existing player has already focused its energy on his current strategy, thus, is unable to concentrate his effort to the new Technology.

Image-1.jpg

In my latest article, I gave a little explanation of what disruption management should be about, but I forgot to mention the importance of disruption in business.

According to research from Stanford University, every disruption brings prosperity as GDP grows, and so does the spending.

Currently there the trend is in the banking industry.
New technologies have been developed that allow for a better mobile banking experience, and the economist goes and explains that there could be saving for each person if these new technologies are implemented.
Currently, I have not completed the section about disruptive technology because it is a chapter which I’m reading currently about in my literature research, so please do allow me some more time to collect more informations about new technologies such as bitcoin and blockchain and how they can be implemented in other markets and industries, not only in the financial sector.

Currently, I’m also reading Hernando De Soto, Why Capitalism Triumph in the west and fails elsewhere, and I believe that this two topics can be interconnected, as his thesis is about property law and services to extralegal, and I’m becoming a fan of this topic.

Strategic Friday #2

Thank you for your interest in today’s topic, today’s topic is about strategy in business and corporate settings. And we start by the SWOT analysis, which is connected to the previous strategic Friday article, also found on my blog.

Today strategic tool is a standard for analysing any situation, which can be an organisation, but can also be in regard of personal opportunities.

The swot analysis is composed of two main sections, the internal analysis, in which resources and capabilities, as well as other tools such as the Porter 5 forces, will be used to analyse the current situation of a situation or an organisation, and will be introduced in the future. And an external section, in which, the environmental forces, previously explain will be used to determine whether a particular situation is attractive or not.

Is important to remember, that they component of the analysis, are not only the 4 main components: strength, weaknesses, opportunities and threats. But also the internal four components such as strong opportunities to exploit, the search for weak opportunities, strong threats which have to be confronted, and weak threats which are avoidable.

As a reminder, is possible to see the graph below in regard to this analysis.

Innovation management as part of Change Management

Thank you for following this blog post, and if you haven’t started to follow me yet, I would suggest you to do it and leave some comments, as most of the blog post are from my readings, but I can be wrong…

Today topic is relating Innovation Management to Change Management, an aspect of management related to business performance.

Innovation Management can be seen as a subset of change management, in fact, in change management there are four types of strategic changes, which are:

Technology, Product and Services, Strategy and Structure, Culture Changes.

Screen Shot 2019-04-09 at 20.06.43.png

These all relates to Organisational Change, in the sense that in order to stay competitive, firms, have to change either one of this aspects, with time.

Technology Change and Product and Services change is what is more related to Innovation Management, in fact, companies in order to succeed implement new technologies, such as communication technology, or create new products and services to sell to the customer, in order to stay ahead of competition.

 

No company can say that they dont implement some change. In fact is by  implementing some kind of change that business can stay competitive, it is even told that competitive advantage is created from strategic changes.

Strategy and structure are more related to organisational design, in fact, from what i understood, organisational design is the alignment of corporate strategy with the working of the workforce, or more precisly with corporate functions.

Last but not least, cultural change is the most difficult to implement, as there is always tension and people tend to like the status quo, thus avoid changing. Cultural change can be anything, from the change of workhours, to change in how customers are treated by the employee.

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