Technology-augmented markets are the ‘why’ of technology implementations. This component of the MWT Model provides purpose, direction, and insight into technology-enabled business transformation projects. Implementation of an information system which doesn’t also transform management practices into a highly transparent market-based approach will not longer deliver competitive advantage.

The types of technologies currently being deployed to manage procurement and spend management are only the tip of the iceberg. Information technology solutions which provide for both market-based optimisation and demand forecasting (not just planning) will dramatically strip waste from organisations over the next 5 – 10 years.

 

Blog posts relating to Technology-enabled Markets: 

  • Nine of world’s biggest banks join to form blockchain partnership LONDON Nine of the world’s biggest banks including Goldman Sachs and Barclays have joined forces with New York-based financial tech firm R3 to create a framework for using blockchain technology in the markets, the firm said on Tuesday. Commonwealth Bank of course joined earlier. from: http://www.reuters.com/article/2015/09/15/us-banks-blockchain-iduskcn0rf24m20150915
  • Interesting Times at Westpac – Dave Curran, CIO I would have loved to have seen the presentation that’s been given some positive press here.  Westpac are putting some meat around their transformation agenda after having learnt from the experiences of other banks. Many of these large scale transformation programs (think ERPs, CRMs, core systems replacements, etc) have a tendency to teach the organisation about ...
  • Cloud-First Policies vs. The Real Impact of Cloud What a slow process it is to watch jurisdictions implement “cloud first” policies.  State and federal governments are all doing it and in the end they all look pretty similar.  Some might say it’s a policy of considered common sense, or a policy not to exclude the obvious.  At least the process is getting done. ...
  • Another example of Market-based Management: Kanban As an Economic Bargaining System for Portfolio Management Principles “1. Introduce a common unit of currency – must be scarce” “2. Provide a marketplace for buyers to bid on units of supply using common unit of currency” “3. Provide just-in-time information to promote market liquidity”
  • Industrialised Adhocracy and The Future of Work Excellent overview on Industrialised Adhocracy and The Future of Work: http://www.procurementandsupply.com/resource/David%20Moloney%20-%20Industrialised%20Adhocracy%20-%202nd%20CPO%20Exchange%20-%20July%202014.pdf
  • Rats participating the markets Okay, so this has the scientific due diligence of an art installation rather than an actual proof of utility.  But it shows why market-based management is so important.   One project is Michael Marcovici’s Rat Trader. The book describes the training of laboratory rats to trade in foreign exchange and commodity futures markets. Marcovici says the ...
  • Market Stereotypes Once you start looking for market stereotypes you can see them everywhere:   Market Stereotype Description  Examples Competitive game Gaming performance where team’s are made of individuals with similar goals Sales team leaderboards  Cooperative game Gaming performance where only team performance matters but individual team members contribute in different ways  Collaborativeworkforcemanagement  Discovery & scoring Add discovery of information by scoring of information and collective curation elancer  Redundant production Make more ...
  • Game Dynamics and Internal Market Making I like the idea that Seth Priebatsch is ‘determined to build a game layer on top of the world’ in the same way I like Jane McGonigal’s work to save the world with games. Seth says in his TEDxBoston talk linked above that while the last 10 years have been about ‘building the social ...
  • Does the enterprise architecture really ‘contain’ the organisation? Is the enterprise architecture a town plan?  I’m not sure I agree with the idea that the enterprise architecture is analogous to a town plan.  For example, under the work-in-progress ‘Coherent Enterprise Archiecture’ (CEA) e-book maintained here, the follow definition applies: “The CEA strategy to lay out the Notional and holistic enterprise master plan ...