What does the future of business look like? In an informative talk, Philip Evans gives a quick primer on two long-standing theories in strategy — and explain...
The internet brought about a destruction of traditional business models, e.g. leather-bound encyclopaedias. It made data and knowledge distribution orders of magnitued cheaper and quicker, and added economies of scale in terms of brains, bringing about Wikipedia. Since 2000, data has become digital and hundreds of times larger, and infinitely more interconnected, enabling analysts to see patterns. "Technology is driving the natural scaling of the activity beyond the institutional boundaries within which we have been used to thinking" - knowledge is being set free and goes from vertical (organisational) silos into a horizontal plain of knowledge, the very small is empowered withing Big Data Business Strategy = curation of valuable information out of the horizontal ocean of knowledge. Collaboration and competition occur at the same time...
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