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Business And Innovation Essay

1260 words - 6 pages

Business and Innovation in Networked Economy

Course Background and Introduction
The dynamic of our society, and particularly our new economy, is increasingly obeying the logic of networks. Understanding how networks work will be the key to understanding how the economy works.
We are connecting everything to everything.
Businesses and governments that are able to effectively employ information and communication technologies find more sophisticated and efficient ways of managing their external relationships and communications. This growing ICT usage helps form the critical mass of electronic transactions which supports a networked economy, both in terms of the network size and the ...view middle of the document...

News production bifurcated between government ownership in many countries and advertising-based mass media (with the exception of the BBC, hybrid model). Film and music also split among these three.
The networked information economy has not decreased the total capital intensity of information production, storage, processing, and communication, but it has decentralized its ownership. About a billion people on the planet today own the core physical means of producing information, knowledge, and culture: they own machines that sense, capture, store, process, and communicate their thoughts, observations, manipulations, and expressions. These machines are, in turn, “shareable,” i.e., given their production technology and the distribution of wealth in the populations that own the majority of them, they are placed into operation by individuals and families for whom they have excess capacity.
The combination of distribution of physical capital and human capital creates a new situation. For the first time since the industrial revolution, the most important inputs into the core economic activities of the most advanced economies are widely distributed in the population. Moreover, there is a significant amount of excess capacity, both physical and human, that is being pored relentlessly into new forms of information, knowledge, and cultural production, as well as into provisioning of networking, storage, and processing capabilities.
Learning Outcome
Objective of this course is to develop creativity and innovative thinking among participants to enable them managing multi stakeholder relationships in the information economy.
After the course, a participant will be able to:
i) Critically analyze business situations for forward thinking through innovation
ii) Appreciate the transformation from industrial to networked economy, and therefore the new way of doing business in different industry verticals.
iii) Be familiar to the major innovations and experiments carried out to harness the power of networked economy along with the possible downsides of such innovations.
iv) Understand the various forms and models of doing business in the networked world; learning from both Global and Indian success stories
v) Develop a Business Manager’s view of on-demand business
vi) Develop techno-savvy capabilities to manage integrated environments in networked economy
The Pedagogic approach:
• Class discussions to understand the real life implementations of the concepts learnt as pre-reads.
• Case studies to discuss Best of Breed real life implementations in India and abroad
• Group work to develop innovative ways that businesses use in various contexts

Course Requirements
1. Since much of the course material requires class discussion, it is important that participants are prepared for the class to present and defend their ideas. Preparation for class includes having read the assigned material.
2. A number of cases will be used in this course. ...

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