third industrial revolution?
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The 3rd Industrial Revolution?Exploring the future of value creation
Dr. Robin Teigland Karinda Rhode in SLStockholm School of Economicswww.knowledgenetworking.orgwww.slideshare.net/eteigland
RobinTeigland
March 2013www.hhs.se
"...when the rate of change outside an organization is greater than the rate of
change inside, the end is near...."
Jack Welch…
Increasing pace of change
Of original Forbes 100 in 1917- 61 companies ceased to exist by 1987- 18 of remaining 39 underperformed market by
20%- Only 2 beat market index (GE & Eastman
Kodak)- Only 1 (1%) today!
Average S&P 500 company lifespan−1920s – 67 years−2010s – 15 years
Dr. Richard Foster, Yale, Sept 2012−Today's rate of change is at faster pace than
ever −By 2020 prediction is > 75% of S&P 500 will be
companies we do not know about todayhttp://www.fastcompany.com/3001444/what-zara-pg-and-berlitz-know-about-agility
Did You Know: Shift Happenshttp://www.youtube.com/watch?v=cL9Wu2kWwSY&feature=search
1. What trends do you recognize?
2. How are these trends affecting you and your organization?
3. What does this have to do with networks?
Growth
Time
Information and knowledge
Human absorptive capacity
Human capacity cannot keep up…
Adapted from Cohen & Levinthal 1989
A Big Bang in the Information Universe
2.7Blndaily comments and ”likes” on Facebook
500Mlndaily posts on Twitter and Weibo combined
200kvideos uploaded to YouTube daily
http://en.wikipedia.org/wiki/Internet, Tomas Larsson, 2012
Big Data is now big money
Tomas Larsson, Sep 2012
http://hbr.org/2012/10/data-scientist-the-sexiest-job-of-the-21st-century/ar/1
”No one knows everything, everyone knows something,
all knowledge resides in humanity.”
networks
Adapted from Lévy 1997
Six degrees of separation
- Milgram, 1967
3.74 degrees of separation!
Source: Facebook
Aug 20125 mln active
monthly users in Sweden
Multiple relationships
@padday, www.thinkoutsidein.com/blog
Growing social media landscapes
http://www.resonancechina.com/2012/03/13/updated-2012-china-social-media-landscape/
Social Media – the connected world
Engagement
Commerce
Analytics
Influence
Platforms - Integrators
Enterprise
Consultants
Social-Local-Mobile
Gaming
Mahaley 2012
People > 45 years becoming more active
Edison Research, 2012 - US-based study
% age group with personal profile on any social networking website
Social media gaining in influence on buying decisions
Which ONE social networking site or service influences your buying decisions the most?
Edison Research, 2012 - US-based study
67% in USA do not follow a brand in social media and for those who do, no one brand
dominates
Of 332 responsesEdison Research, 2012
Think about the companies, brands, products and services
you enjoy following on social networking sites. What is the first ONE that comes to mind?
Creation > curation
46% Creators: Create and post photos, videos, etc.
41% Curators: Find and post photos, videos, etc.
http://pewinternet.org/Reports/2012/Online-Pictures.aspx
The wisdom of the crowd
ClosedExpensiveComplexAccurate
OpenInexpensive
SimpleClose enough
Hinton 2007
AccurateUp-to-date
History tends to repeat itself….Innovation, financial crisis, industrial revolution,
…
Steam engine
Internal combustion
engine
Microelectronics
Late 18th C Late 19th C Late 20th C
Schön 2008
Third industrial revolution?
Where have the traditional sources of sustainable competitive advantage been?
#1
InnovationNetworks of relationships
Brand & Reputation
FIRM
Kaye 1993
#1
InnovationNetworks of relationships
Brand & Reputation
FIRM
TWhere are tomorrow’s sources of
sustainable competitive advantage?
Teigland 2010
How Wrapp’s friend-to-friend marketing platform drives sales
Converting online relationships to offline sales
The “Open Innovation” Opportunity Cloud – Powered by technologies
Mahaley 2012
Mahaley 2012
Crowdsourcing product and service innovations from customers
Open innovation in high techFor 10 years IBM has hosted “ideajams” on specific challenges, i.e., text-
based chats with hundreds, even thousands of contributors from inside and outside IBM. “The 2006 Innovation JamTM brought together >150,000 people
from 104 countries and 67 companies. 10 new IBM businesses were launched with seed investment of $100 mln.”
Mahaley 2012
Open innovation in health care
DEMO!
Mahaley 2012
ExploitationImproving
existing value creation activities
ExplorationDeveloping new value creation activities
Adapted from March 1991
Into the future….
Who develops it?
Who manufactures it?
Who finances it?
30% profit margin in
commodity business
sketchstreet
From clothing to home products….
Open innovation in automotive design/production
“Local Motors is the place for people to create influential vehicles together.”
http://www.youtube.com/watch?v=azCRuwtE_n0
The Firm
The Collective
vs
E.g., Microsoft~ Built by employees within
organizational boundaries
E.g., Linux~ Built by users and distributed freely regardless of affiliation
Models of Knowledge Creation
Teigland, Di Gangi, & Yetis 2012
“Open source” …not just about software anymore
OpenSimulator: A value-creation ecosystem
AcademicEntrepreneurHobbyistLarge FirmNon-profitLocal PublicFederal PublicResearch InstSME EmployeePeriphery
Teigland, Di Gangi, & Yetis 2012
USD 5.5mln in development
costs
Into the future….
Who develops it?
Who manufactures it?
Who finances it?
3D printing becoming more commonplace…
http://www.youtube.com/watch?v=rrrF_MVMlZw
…and it’s no longer just for companies
3D scanning apps
Affordable home 3D printers
In stores near you
Open Source + 3d Printing + InternetComm
http://mashable.com/2013/02/13/robohand/
$60,000
$150
Where is all this
happening?Online
Access to 24x7 global workforce
Matchmakers: USD 1bln industry
Increasing supply of freelance talent globally
https://www.elance.com/trends/talent-available
Global Online Employment ReportQ2 2012 at Elance
The new market place
A shift by companies from being “problem solvers” to “solution finders”
Ericsson & Augur 2011
Shifting market logic
Ericsson & Augur 2011
Into the future….
Who develops it?
Who manufactures it?
Who finances it?
New forms of financing
http://blog.intuit.com/trends/crowd-power-what-is-crowdfunding-infographic/
And even new forms of currency
Mahaley 2012
Just when you thought you got it….
Here comes the Immersive Internet….
O’Driscoll 2009
What are Virtual Worlds ?
http://www.youtube.com/watch?v=Quh2OiPHkm8
Platforms for unleashing creativity and revolutionizing
value creation
My CV• Leading a virtual team of 30
individuals from across the globe
• Creating and successfully executing strategies under
pressure• Managing cross-cultural conflict
without face-to-face communication
Building skills in virtual environments
The number of virtual worlds and users continues to rapidly increase
http://www.slideshare.net/nicmitham/kzero-universe-q1-2012
≈1.9 bln accounts
≈100 worlds
≈1.4 bln VW accounts under age 16
http://www.slideshare.net/nicmitham/kzero-universe-q1-2012
225 mln
170 mln
200 mln
265 mln42 mln (and 8.2 mln bought)
“Clearly, if social activity migrates to synthetic worlds, economic activity will
go there as well.” Castronova, 2006
$14.8 billion worldwide market for virtual goods in 2012E
http://www.superdataresearch.com/monetization-is-a-four-letter-word/
US$ 635,000 for a virtual asteroid!
http://blogs.forbes.com/oliverchiang/2010/11/13/meet-the-man-who-just-made-a-cool-half-million-from-the-sale-of-virtual-property/
• US$ 500,000 profit in 5 years by Jon “Neverdie”
Jacobs• Entropia Universe with GDP
>US$ 440 mln
Cloud party on Facebook - In beta Marketplace app and Cloud Coins
https://www.facebook.com/CloudParty
Education, training…
Learning virtual teaming skills
through experience
http://www.youtube.com/watch?v=Quh2OiPHkm8
Euroversity Network Overview
− EU funded, 3 year multilateral and transversal network (LLP EACEA, KA3 (ICT))
− December 2011 – December 2014− Project Leader: University of Hull (Darren Mundy, Luisa Panichi)− 19 partners from Austria, Cyprus, France, Germany, Israel, Italy,
Netherlands, Norway, Portugal, Sweden, UK Network Aims
−Collect good practice examples in teaching and learning in virtual worlds from different subjects and national and local contexts− Facilitate transfer of core knowledge to new contexts− Provide framework for creation of pan-European virtual-world university
Expected Outcomes− Increased number of experts in virtual world education− Policy for long-term sustainability of network and its outcomes− Model for knowledge transfer− Range of dissemination events
More information: http://www.euroversity.eu/
Training and simulation for Providers of Healthcare Delivery
In hospital counseling atUniv of New England
Virtual hallucinations at UC Davis
Pharmacy training at Umeå U
Emergency training w/ SAIC
Accelerating innovation to meet global needs
Teigland et al. 2010
Integrating users in development
process
http://www.youtube.com/watch?v=2kMNWBU1Yb8
Developing international entrepreneurs?
http://www.bbc.co.uk/news/technology-20492908
The future of immersion…
http://www.bbc.com/news/technology-19568451
Increasing pace of VW/3Di development
Browser-based, hyperlinked 3D
Radical interfaces
Mobile
Short-term Mid-term
Long-term
Adapted from Burden, 2012
Coming soon – by Palgrave Macmillan
Release date April 19, 2013
http://www.amazon.com/The-Immersive-Internet-Reflections-Entangling/dp/1137283017
Only a matter of time?
O’Driscoll 2009
From factories to office parks to….
From the mobility of goods to the mobility of financial capital to …
Teigland, JVWR, 2010
...the “mobility” of labor?
Here today, gone tomorrow?
Some things do not change
Innovation Exchange
Exchange Trust
Trust RelationshipsRelationships Interaction
Are you ready?
What should you think about?
How to let go?
How to leverage the power of networks to create value inside and outside the boundaries of the firm?
How to create a sustainable ecosystem?
Karinda Rhode
aka Robin Teiglandrobin.teigland@hhs.se
www.knowledgenetworking.org
www.slideshare.net/eteigland
www.nordicworlds.net RobinTeigland
Photo: Lindholm, Metro
Photo: Nordenskiöld
Photo: Lindqvist
If you love knowledge, set it
free…
Interested in learning more?
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