I made a trip to Illinois recently and had a very interesting discussion with a professor at SIUE (Southern Illinois University Edwardsville) about the risk involved with technology companies.
Expensive development costs, pattent protections, and sufficient market demand are all key contributors to the risks faced by technoligcal development companies. However, not many people look at the risk of fraud.
A company in the St. Louis area claimed to be developing a new surgical dental device which would be groundbreaking in the field. Investors went crazy for it. One problem... the product never worked. Behind the guise of "top-secret development" other such things, investors were never given the correct information and were thus led astray.
The tech company filed for bankruptcy last month and no product will be released. Investors will lose everything.
The question I feell that this raises... How much should comapnies be required to share with investors about new technology which they are developing? Should they be required to disclose anything at all?
Tuesday, April 8, 2008
Wednesday, March 19, 2008
Small World
I was recently commissioned by my boss to create a satellite web site separate from our company's main site to promote a consumer class action case.
In order to get a competitive price I looked at options online, local contractors, nation-wide companies, and of course software allowing me to design the site myself. After compiling the research and getting many prices I found a winner. What company? A small development company in Minnesota. This company offers fast service, solid tech, and a very competitive price.
The business world really is shrinking. Options that were not available to businesses are now reality. Local Augusta firms probably never dreamed of being in direct competition with companies on the other side of the country.
A final thought... imagine if I had started to search internationally?
In order to get a competitive price I looked at options online, local contractors, nation-wide companies, and of course software allowing me to design the site myself. After compiling the research and getting many prices I found a winner. What company? A small development company in Minnesota. This company offers fast service, solid tech, and a very competitive price.
The business world really is shrinking. Options that were not available to businesses are now reality. Local Augusta firms probably never dreamed of being in direct competition with companies on the other side of the country.
A final thought... imagine if I had started to search internationally?
Monday, March 3, 2008
New Web Site
The past few weeks and months I have been working on updating my company's web site. I handle all of the content and design myself, but work with a web developer in Minnesota who actually does the technical work.
This experience re-enforces Dr. Schultz concept of technical people speaking an entirely different language and not getting along with others. Most emails I have with this man are followed by Google searches and research. When I first read what he says, it is "geek-speak" and I am simply lost.
The final product is a compromise of my designs and his technology. Many of the things I developed on paper were simply bad ideas or not possible with the given tech. Also, many of the developer’s ideas were absolutely terrible from a functional business standpoint. In the end I guess all IT projects are like this. Each person has their job/specialty and the real work is finding a middle ground.
The web site is: www.nicholsonrevell.com
It is about 80-90% done. Let me know what you think of it.
This experience re-enforces Dr. Schultz concept of technical people speaking an entirely different language and not getting along with others. Most emails I have with this man are followed by Google searches and research. When I first read what he says, it is "geek-speak" and I am simply lost.
The final product is a compromise of my designs and his technology. Many of the things I developed on paper were simply bad ideas or not possible with the given tech. Also, many of the developer’s ideas were absolutely terrible from a functional business standpoint. In the end I guess all IT projects are like this. Each person has their job/specialty and the real work is finding a middle ground.
The web site is: www.nicholsonrevell.com
It is about 80-90% done. Let me know what you think of it.
Monday, February 18, 2008
Bul-Go-Gi
This has nothing to do with IT, but I love Korean food. There is a great Korean BBQ on Columbia Road. They make great Bul-Go-Gi.
However, this restaurant had an innovative piece of technology. At each table they have a button that when pressed will notify the waiter/waitress that you require their attention. This handy little device saved the waitress the trouble of constantly checking in on our table and saved us the trouble of constantly chasing her down. She was able to be more efficient and we were not bothered unless we requested it.
My question.... why don't more restaurants have similar devices?
However, this restaurant had an innovative piece of technology. At each table they have a button that when pressed will notify the waiter/waitress that you require their attention. This handy little device saved the waitress the trouble of constantly checking in on our table and saved us the trouble of constantly chasing her down. She was able to be more efficient and we were not bothered unless we requested it.
My question.... why don't more restaurants have similar devices?
Tuesday, February 12, 2008
Technology Hurts
This post is an anecdote about a recent "painful" experience that I had at work. I hope you all enjoy it.
At the law firm Nicholson Revell LLP we have implemented a database system in order to track all of our business contacts and previous clients. This database allows us to send out a semi-annual newsletter and numerous other advertising pieces throughout the year.
Recently, I decided that the easiest way to keep this database current was to have each person in the firm enter their own clients and contacts rather than have 1 person enter all of this data into a spreadsheet individually. Fast. Efficient. What’s not to love? So, to accomplish this goal, I created a simple form linked to the database. After testing everything on my computer I assume all is well and send the file to everyone in the office.
A few weeks later I take a look at the database only to see that it has not been updated since I created system. Confused I make my way around the office to find out what was wrong. Was the new system faulty? Was the information being updated to the wrong location? Why wasn’t this working? The answer is simple. I was the only one with Access on my computer and no one else knew how to open the program. Here I was taking the program for granted and assumed that everyone had it. Come to find out, I was the only one with the application.
The end result? I had many new entries to make to update the database individually. Also, the fast and efficient system will require me spend an afternoon installing Access on a dozen computers, wasting a lot of my time. My conclusion: technology hurts.
At the law firm Nicholson Revell LLP we have implemented a database system in order to track all of our business contacts and previous clients. This database allows us to send out a semi-annual newsletter and numerous other advertising pieces throughout the year.
Recently, I decided that the easiest way to keep this database current was to have each person in the firm enter their own clients and contacts rather than have 1 person enter all of this data into a spreadsheet individually. Fast. Efficient. What’s not to love? So, to accomplish this goal, I created a simple form linked to the database. After testing everything on my computer I assume all is well and send the file to everyone in the office.
A few weeks later I take a look at the database only to see that it has not been updated since I created system. Confused I make my way around the office to find out what was wrong. Was the new system faulty? Was the information being updated to the wrong location? Why wasn’t this working? The answer is simple. I was the only one with Access on my computer and no one else knew how to open the program. Here I was taking the program for granted and assumed that everyone had it. Come to find out, I was the only one with the application.
The end result? I had many new entries to make to update the database individually. Also, the fast and efficient system will require me spend an afternoon installing Access on a dozen computers, wasting a lot of my time. My conclusion: technology hurts.
Thursday, January 24, 2008
Assembly Line Version 2.0
The internet is changing the way people do business in ways reminiscent of the assembly line. However, these changes are not just on an operations level, but on a much grander business scale.
The creation of the assembly line allowed each worker to focus on a singular task. This resulted in greater efficiency, quantity, and possibly most significant: specialization. The internet and IT are having a similar impact on businesses. In the past businesses would be involved in many levels of activity and every aspect of their industry from purchasing raw materials and manufacturing to selling and marketing. Now businesses are becoming more focused and specialized.
Take the example of Motorola and T-Mobile. In the past one company would have made the phones and then sold them. Today’s environment of fast communication and integrated IT has led to separate companies taking on these separate, more closely related tasks. Motorola has taken on the aspect of phone manufacturing and customer service. Meanwhile, T-Mobile has taken the task of marketing and sales. Consequently, each company is now involved in fewer activities, but they have become better at the activities they participate in. Sound familiar? That is right. Specialization.
With that said, you can predict the future for business. More of the same. In the example of Motorola, they may decide to simply handle customer service aspects and outsource the manufacturing aspects. Then they may decide to further specialize and only handle the technical side of the customer service, outsourcing all billing and account services. Just like the assembly line workers, businesses will continue to narrow scope and become more specialized.
The creation of the assembly line allowed each worker to focus on a singular task. This resulted in greater efficiency, quantity, and possibly most significant: specialization. The internet and IT are having a similar impact on businesses. In the past businesses would be involved in many levels of activity and every aspect of their industry from purchasing raw materials and manufacturing to selling and marketing. Now businesses are becoming more focused and specialized.
Take the example of Motorola and T-Mobile. In the past one company would have made the phones and then sold them. Today’s environment of fast communication and integrated IT has led to separate companies taking on these separate, more closely related tasks. Motorola has taken on the aspect of phone manufacturing and customer service. Meanwhile, T-Mobile has taken the task of marketing and sales. Consequently, each company is now involved in fewer activities, but they have become better at the activities they participate in. Sound familiar? That is right. Specialization.
With that said, you can predict the future for business. More of the same. In the example of Motorola, they may decide to simply handle customer service aspects and outsource the manufacturing aspects. Then they may decide to further specialize and only handle the technical side of the customer service, outsourcing all billing and account services. Just like the assembly line workers, businesses will continue to narrow scope and become more specialized.
Wednesday, January 23, 2008
Developer Competency Questionaire
1a) 30+ pages, team project for small business class
1b) Web site traffic reports: 2-30 spreadsheets with unique formulas and graphs. This was done for my job.
1c) Around 1100 entries including names, addresses, contact info, and client info. All together about 25 columns.
1d) Web site created www.nicholsonrevell.com and www.nicholsonrevellblog.com
1e) I have not created much software. The most extensive I have created were Excel spreadsheets for various uses.
2a) 3
2b) 3
3a) 5
3b) 5
3c) 5
3d) 5
3e) basic html
1b) Web site traffic reports: 2-30 spreadsheets with unique formulas and graphs. This was done for my job.
1c) Around 1100 entries including names, addresses, contact info, and client info. All together about 25 columns.
1d) Web site created www.nicholsonrevell.com and www.nicholsonrevellblog.com
1e) I have not created much software. The most extensive I have created were Excel spreadsheets for various uses.
2a) 3
2b) 3
3a) 5
3b) 5
3c) 5
3d) 5
3e) basic html
Wednesday, January 16, 2008
IT: Competitive Advantage?
Our recent class readings discussed the concept of IT as a competitive advantage. In my opinion, information technology does not provide any sustainable competitive advantage by itself. Even the greatest and most advanced IT will inevitably be reproduced and surpassed by competing products. With the increasing speed of new technology this can only be expected to occur faster and faster. Thus, even the most advanced piece of IT may only give you an advantage for a few month or weeks.
The true sustainable competitive advantages with IT are seen in the utilization and integration of the technology. Those companies who are able best use IT and develop competencies around the IT can have a sustainable advantage over competitors.
Take for example the simple piece of software, Microsoft Office. Businesses and employees around the globe have this software. Yet, does simply owning this software give any kind of advantage? Nope. What allows this product to be so valuable are the skills and competencies users have developed and the way in which businesses integrate the technology into their operations.
The true sustainable competitive advantages with IT are seen in the utilization and integration of the technology. Those companies who are able best use IT and develop competencies around the IT can have a sustainable advantage over competitors.
Take for example the simple piece of software, Microsoft Office. Businesses and employees around the globe have this software. Yet, does simply owning this software give any kind of advantage? Nope. What allows this product to be so valuable are the skills and competencies users have developed and the way in which businesses integrate the technology into their operations.
Monday, January 14, 2008
Innovation Abuse
I found Dr. Miller's discussion about innovative technology very interesting this past week. The example of the AT&T/retail store coupon scanner was definitely an intriguing. However, I cannot share this optimistic view in regards to new technology. It is my opinion that almost every "good idea" is actually a "bad idea" in the making.
What do I mean by this? I mean that that despite good intentions this idea will inevitably be used in horrible ways unintended by the original creators. Take for example email database marketing. This was once a cost effective way to send a message to thousands; even millions of clients in the blink of an eye. Truly this would usher in a new age of marketing. Not really. This idea is now the foundation for one of mankind's greatest rivals: the spam email.
So, in the art of the pessimistic view point, allow me to predict the future abuse of the great idea from AT&T. Imagine that standing in front of a display for more than 10 seconds will result in a coupon being sent to your phone. Now imagine that some marketers determine that it would be more effective to send a message after only 8 seconds. Then 5. Then 2. Now you are afraid to become stationary in a grocery store for fear of an onslaught of coupon messages. Frantically you run through the isles throwing items into your cart reminiscent of "Super Market Sweeps" game shows.
Another potential 'End of Days' scenario? Innovators develop scanners that detect customers within 500 feet. Now you don't even have to be in an isle or even in a store. You could be on I-20 and pass by a line of fast-food chains. Or even worse... a Wal-Mart. Suddenly your phone is assaulted with a blitz of 200,000 coupon messages.
Maybe I am just too pessimistic and make too much out of nothing. Maybe I am the next Miss. Cleo television psychic and have correctly predicted the future. Maybe I am bat#$@* crazy. Regardless of your opinion on the issue of my mental competence, you must agree that even the best intention innovative technology is guaranteed to be abused.
What do I mean by this? I mean that that despite good intentions this idea will inevitably be used in horrible ways unintended by the original creators. Take for example email database marketing. This was once a cost effective way to send a message to thousands; even millions of clients in the blink of an eye. Truly this would usher in a new age of marketing. Not really. This idea is now the foundation for one of mankind's greatest rivals: the spam email.
So, in the art of the pessimistic view point, allow me to predict the future abuse of the great idea from AT&T. Imagine that standing in front of a display for more than 10 seconds will result in a coupon being sent to your phone. Now imagine that some marketers determine that it would be more effective to send a message after only 8 seconds. Then 5. Then 2. Now you are afraid to become stationary in a grocery store for fear of an onslaught of coupon messages. Frantically you run through the isles throwing items into your cart reminiscent of "Super Market Sweeps" game shows.
Another potential 'End of Days' scenario? Innovators develop scanners that detect customers within 500 feet. Now you don't even have to be in an isle or even in a store. You could be on I-20 and pass by a line of fast-food chains. Or even worse... a Wal-Mart. Suddenly your phone is assaulted with a blitz of 200,000 coupon messages.
Maybe I am just too pessimistic and make too much out of nothing. Maybe I am the next Miss. Cleo television psychic and have correctly predicted the future. Maybe I am bat#$@* crazy. Regardless of your opinion on the issue of my mental competence, you must agree that even the best intention innovative technology is guaranteed to be abused.
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