Digital Innovation and Entrepreneurship summary of all articles

Lecture 1 basic concept?

Respuesta: -digital planet= policy is essential for it to work, gives access to capital and education -digital evolution index= pace of evolution across 60 countries (e.g brasil does not know about airbnb) -four driver for level and pace evolution ->by supply condition, demand condition, innovation and change, institutional environment -government policy shapes how digital economy works -companies have value but are small, thanks to platform power( technology connects people, organization in interactive ecosystem (do not need to own rooms, zoom doesn\'t own classrooms) -info is important and conditional for platform revolution(why zoom became platform) -information is the product (info and media)

What is a platform?

Respuesta: -Business based on enabling value creating interaction between EXTERNAL producers, airbnb, and consumers -open participation infrastructures (zoom) and set governance conditions (airbnb=laws from gementee)

Purpose of platform?

Respuesta: -purpose=constantly create matches amongst users and facilitation of exchanges (goods/services=e.g social currency) by enabling value creation

Pipeline vs Platform advantages of platform (lecture 1 summary)

Respuesta: raw material, distribution.... no more. Platform enables interaction, growth from both ends, volunteer information to create value for the world is. PRO= 1) scale more efficiently (expanding in size and number) by eliminating gate keepers who were not allowing a feedback loop to happen (e.g if I write a bad review to the restaurant, the gatekeeper could decide not to put the review only because the restaurant is trying to get successful, instead now every info is released, before the restaurant would just respond to the review with a feedback, think of it as a gate= info released or not, in or out)=just like amazon self publishing and editorials 2)Unlock new sources of value creation and supply (airbnb) 3) Growth is not just physical capital (airbnb is completely online, doesn\'t own rooms) 4)Use databased tools to create feedback loops 5)From inside to outside (personalization, the external people contribute , crowdsourcing and crowdfunding)

(lecture 2) Invention vs Innovation

Respuesta: From the innovator point of view: - Innovation is a significant improvement of that invention -Invention is the creation of the product for the first time From the entrepreneur point of view: Invention has not find its market, products has not found its market yet Innovation has a clear market in mind for that invention to be placed in Remember= innovation is always invention but invention is not always innovation

(Lecture 2) Importance of technological innovation

Respuesta: More viable and successful = Shorter production run =less focused on economies of scales + Easy transaction to one product model to another