Brief summary:
- A new technological innovation might bring in economic, social, ethical/legal, and environmental effects.
- There is a need to prioritize in deciding whether & when to invest in R&D of new technologies – especially in developing countries, as they have lesser resources to play around with.
- Whenever you start a change initiative, you can never know everything. However, you need to be keenly aware of the market dynamics and understand how to improve and adapt to suit their needs.
Interesting observations & ideas:
- Obama was using electronic media in his political campaign
- Ideas from fantasy science fiction culture as inspiration for current technologies. For instance, in Space Odyssey (a film made in 1968), the spacesuits that were used then are used in current times!
- There are two kinds of sci-fi: Soft Science Fiction, which is based on social sciences, and Hard Science Fiction, which is based on scientific facts and theories.
Key takeaways:
1. Start with a blank sheet of paper. Dream without constraints! Then, give it a reality check & plot your path towards success.
2. Importance of constantly engaging the public in the change management process, with the purpose of reconciling cultural differences with new technology. There is also a potential for developing business ideas from this.
Issues for further discussion:
- Cultural “stickiness” – it is important to take into consideration the market’s culture when implementing a new technology. Should technology adapt to culture, or culture adapt to technology? I believe that that is the essence of Disruptive Technology – where a revolutionary technology comes in and changes the way the market operates. I feel that as long as a technology is inherently beneficial, it will be able to win followers through rational persuasion of its practical benefits.
My rating for this lesson:
8/10. Quite an interesting session and I learnt some frameworks that could be applied to my individual topical paper!
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