Category: Technology

Are mobile payments today's VHS / Betamax battle?

Posted by MIT Sloan Executive Education - 1 day ago

People of a certain age likely remember the battle between VHS and Betamax. These were the first two affordable in-home video tape systems, and they were completely different formats, incompatible with each other. Sony’s Betamax hit the market in 1975, but the company had previewed the product to other manufacturers the previous year. The company hoped that the other manufacturers would back their Betamax format, thus enabling competitors to develop and market compatible products to the marketplace. 

Instead, JVC developed a competing format, VHS (Video Home System)—and the home video recorder format war began. The competing platforms battled on the retail cost of the systems and on recording time. JVC licensed the technology to other manufacturers, while Sony was the sole manufacturer of Betamax until the late 1980s. Sony went from owning 100% of the market share in 1975 to just 25% of the U.S. consumer home market.

What does that history have to do with the quickly evolving world of mobile payments? In “Mobile Pay Not Yet Ready for Prime Time,” Boston Globe’s Scott Kirsner writes, “We’ve got smartphone apps and accompanying devices [for mobile payments] that work at one retail chain or a bunch—but nothing yet that’s universal.” Given that, the market is poised for another potential platform battle.

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Managing the seasonality of products

Posted by MIT Sloan Executive Education - 1 month and 2 days ago

The seasonality of products is an issue that manufacturers, distributors, retailers, and consumers are well aware of. We all know back-to-school advertising, products, and sales hit stores in July. Soon after, we see Halloween items. And before Halloween even arrives, we start to see Christmas advertisements and promotions. Getting ahead of the season has become standard operating procedure.

But when is it too early to issue a seasonal product? Many craft beer aficionados are beginning to argue that the practice of "seasonal creep" has gone too far. Simply put, seasonal creep is when a beer specific to a season appears on store shelves way before the season actually hits. The best example is the category of pumpkin beers.

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It’s time to rethink wages

Posted by MIT Sloan Executive Education - 5 months and 19 days ago

For the last year or so, there’s been a significant amount of news coverage around the wages paid to low-income earners, such as those working at fast food outlets and in retail stores. There have been public protests, calls for boycotts, and legislation to raise the minimum wage in some states.

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The digital business transformation imperative

Posted by MIT Sloan Executive Education - 6 months and 9 days ago

“What exactly does a digital business transformation mean?” asked Michael Krigsman, CEO of Asuret, Inc., and moderator of the "CIO, CMO, CDO Perspectives on Digital Transformation" panel at The 2014 MIT Sloan CIO Symposium.

Each of the panelists—F. Thaddeus Arroyo, CIO of AT&T Services, Inc.; Robert Tas, CMO & SVP of Pegasystems; Tanya Cordrey, Chief Digital Officer (CDO) of Guardian News and Media; and George Westerman, Research Scientist at the MIT Center for Digital Business—had his or her own take on the digital transformation facing most businesses today. 

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Will big data go away?

Posted by MIT Sloan Executive Education - 6 months and 15 days ago

That was just one of the many questions debated during the “Big Data, Analytics and Insights” session at this year’s MIT Sloan CIO Symposium, held in late May 2014. The panel was moderated by Professor Tom Davenport, Fellow with the MIT Center for Digital Business, and included Barry Morris, Founder & CEO of NuoDB; Darrell Fernandes, CIO of the Professional Services Group at Fidelity Investments; Don Taylor, CTO of Benefitfocus; and Puneet Batra, Founder of LevelTrigger.

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How to manage effectively in the face of risk

Posted by MIT Sloan Executive Education - 10 months and 28 days ago

With globalization comes increased risk and uncertainty in nations, environments, communities, and businesses. As growing complexity makes it more difficult to determine the source of risk in these complex systems, it also reveals the interdependent nature of risk within a greater ecosystem. New studies show the best way to manage an organization in the face of risk is to build resiliency—the ability to withstand, recover from, and maintain function through a crisis.  But in order to manage risk effectively, resiliency must be built into the entire interrelated system of an organization.

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Mapping risk with the beer game

Posted by MIT Sloan Executive Education - 1 year and 12 days ago

As MIT Sloan Professor John Sterman told MIT Technology Review, “there’s no actual beer in the Beer Game.” Instead, it’s an exercise for MIT Sloan students that simulates the supply chain of the beer industry. The roles include retailer, wholesaler, distributor, and brewer; the goal is to make operating costs as low as possible. The Beer Game demonstrates the fluctuations of inventories and backlogs and how they impact the bottom line.

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How the digital marketplace is redefining customer relationships

Posted by MIT Sloan Executive Education - 1 year and 19 days ago

Many people today buy their household telecommunications services—house landlines, Internet access, and digital TV—in bundles. Yet go to the average telecommunications services provider’s website and you have to select which product you are inquiring about or need fixed. From an organization’s perspective, this makes complete sense. There’s a division for phone service, a division for Internet service, and a division for television. Specialists and technicians exist in each department to help you with whatever you need. But you get one bill each month, so why can’t the company recognize you as one customer with multiple products, instead of three separate customers?

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