3/5

In the technology class, we concentrate on finding repeatable services that we can spread over all applications or customers in order to make money, basically what I see as the low-cost strategy. I find it interesting because in most other classes, this is not seen as a good strategy because other firms will always be able to do it better and there is a race to the bottom of cost structures. Therefore, firm should choose differentiation and focus because they have a better chance at being the top of those strategies. I obviously think that low cost can also be combined with another type of strategy. I think that this is really where the profitability comes in because it’s how do you basically turn differentiation and focus into a repeatable service. In other words, if we can automate extreme individualization, we can have the best of all worlds and I think technology is clearly the way to do this.

Another point that I found interesting in class was that much of the technology is made so that we do not have to spend our time doing mundane and simple tasks. This allows us to be creative and think of new ways to innovate. I think that this is great for people who like to think and can think at work. However, good or bad, I think many people go into work and do not want to think and choose not to think beyond their individual tasks and I think that the future will be extremely difficult for them. I’m not suggesting that we hold back technology because people are essentially not committed to doing their job the best they can. I’m merely suggesting that as the demand for mindless jobs decreases due to technology, it will become harder and harder for non-educated people to find gainful employment. This reinforces the video in class where we need to really concentrate on providing that education and guidance for our children and even adults in the current workforce. It reminds me of the anecdote about how we would never choose not to use the refrigerator because it would put the milk and ice delivery people out of business. We have to accept new technology, but at the same time ensure that those people who are being replaced are able to find a new niche in society.