Anthony J. Pennings, Ph. D var gaq gaq. Account, UA 2. Pageview function. Elementscript ga. Elements. By. Tag. Namescript0 s. Node. Beforega, s. In digitally mediated environments, new forms of currency and payment systems continue to gain public acceptance. Changes in technology, contactless options, and the ease of electronic payments make cash less desirable. While credit cards remain the most popular form of payment with some 7. Pay. Pal, for example, is used for some 1. The major types of payment systems for B2. C transactions Payment Cards Credit, Charge, Debite Micropayments less than 5Digital Wallets Ali. Understanding-Digital-Marketing.jpg' alt='Marketing Metrics Digital Handbook' title='Marketing Metrics Digital Handbook' />For example, marketing departments track metrics pertaining to the success of campaigns and statistics that characterize their reach sales teams monitor leads by. Access our exclusive online marketing resources such as most recent articles, seminars, templates, case studies, and much more. Visit our website today. Stephen Diorio, president of IMT Strategies, talks with SearchCRM about the impact that rapidly changing technology will have on sales and marketing strategy and. Join us at 2020 Customer Experience Summit, bringing together 250 global CX leaders sharing ideas insight to inspire customer journey transformations. Pay, Apple Pay, Samsung Paye Checking Representation of a check sent onlineDigital e. CashStored Value Smart Cards, Pay. Pal, Gift Cards, Debit. Canoscan 4200F Driver. CardsNet Bank Digital payments directly from your bankCryptocurrencies Peer to peer blockchain enabled digital coins Bitcoin, Ethereumm, Dash What factors determine the success of a digital payment systemSocial media metrics refer to the measurements that companies use to gauge the impact of their efforts on social media platforms, and the impact of social media. Our latest thinking on the issues that matter most in business and management. Digital Services Playbook. The American people expect to interact with government through digital channels such as websites, email, and mobile applications. The Society for Human Resource Management SHRM is the worlds largest HR professional society, representing 285,000 members in more than 165 countries. In response to a letter from Governor Kate Brown, the Oregon Health Authority will continue health coverage through April for 80,000 children and 1,700 pregnant women. Here is a list of some important criteria to consider when it comes to assessing the viability of a currencypayment system. Acceptability Will merchants accept itAnonymity Identities and transactions remain privateIndependence Doesnt require extra hardware or softwareInteroperability Works with existing systemsSecurity Reduced risks to payer and payeeDurability Not subject to physical damageDivisibility Can be used for large as well as small purchasesEase of use Is it easier to use than a credit cardPortability Easy to carry aroundUniformity Bills, coins, and other unites are the same size and shape and valueLimited supply Currencies lose value if too abundant 1What about payment systems for large transactions between businesses or governments The major types of payments systems for B2. B, B2. G or G2. G transactions are 1 Types of payment systems and and criteria drawn from Functions of Money The Economic Lowdown Podcast Series, Episode 9. Functions of Money, Economic Lowdown Podcasts Education Resources St. Please note, each subscription to the SHRM Employee Handbook Builder is only valid for one legal entity. If you have separate legal entities in various states, you. Louis Fed. N. p., n. Web. 1. 5 July 2. Anthony J. Pennings, Ph. D is Professor and Associate Chair of the Department of Technology and Society, State University of New York, Korea. Before joining SUNY, he taught at Hannam University in South Korea and from 2. New York University. Previously, he taught at St. Edwards University in Austin, Texas, Marist College in New York, and Victoria University in New Zealand. He has also spent time as a Fellow at the East West Center in Honolulu, Hawaii. Account, UA 2. Pageview function. Elementscript ga. Elements. By. Tag. Namescript0 s. Node. Beforega, s. Posted on July 1. No Comments. In this post, I connect the idea of the digital content life cycle to the concept of a value chain. E commerce and other digital media firms can use this process to compare and identify value creating steps and prioritize them within the organizations workflow. They also become important in anticipating and analyzing needed human competences and digital skill sets. The graphic below represents the key steps in the digital media production cycle, starting at one oclock. Long recognized by economists as part of the commodity production process where raw materials are processed into a final product via a series of value adding activities, the value chain concept was refined by Michael Porter in 1. The idea of the value chain is based on the view of organizational outcomes as a series of transformative steps. He focused on the processes of organizations, seeing productive activities as a series of sequential steps. Central to this idea is seeing a manufacturing or service organization as a system, made up of subsystems each with inputs, transformation processes, and outputs. Porter distinguished primary activities in the value chain from secondary activities in the sense that the former were more directly related to a final output. Primary activities include inbound logistics, productionoperations, outbound logistics, marketing and sales, and services. Raw materials come into the company through logistical processes and pass through production facilities that are coordinated via operations. These resources are transformed into a final product that is marketed to customers. Activities such as procurement, human resource management, technological development, and infrastructure are secondary only in the sense that they provide support functions to the primary value chain. Departments such as accounting, finance, general management, government relations, legal, planning, public affairs, and quality assurance are necessary, but not primary. Porter didnt diminish these activities but rather placed them in relation to output goals. Both primary and secondary activities can help identify value creating steps, supporting activities and prioritize them within the organizations workflow. An analysis of the flow of digital content production can help companies determine the steps of web content globalization. In the early days of the Internet, Rayport and Sviokla 1. Harvard Business Review. They listed five activities involving the virtual world of information that help generate competitive advantage. In their article they suggest that gathering, organizing, selecting, synthesizing, and distributing information help companies use content and value added resources to build new products and services and enhance customer relationships. They even suggested that newspapers could use the five value adding steps to construct new products with the digital photography and other information resources they have available. Remember this was a time when the jpeg image was fairly new and companies like Real Networks were competing to become a video standard. No Facebook existed. A digital chain analysis involves diagramming then analyzing the various value creating activities in the content production, storage, monetization, distribution, consumption, and evaluation process. Each step can be analyzed and evaluated in terms of its contribution to the final outputs. Furthermore, it involves an analysis of informating process, the stream of data that is produced in the content life cycle process. Digital content passes through a series of value adding steps that prepare it for global deployment via data distribution channels to HDTV, mobile devices, and websites. Each of these steps is meticulously recorded and made available for analysis. The digital value chain is presented linearly here, but most data activities that add value operate as cycles. New ideas are conceived, new content is added, questions are constantly being asked, new ways of monetizing content is also extremely important. Also, how are audiences consuming the contentThis leads the process back to the initial conception of content with the consideration of audienceconsumer analytics and feedback. Through this analysis, the major value creating steps of content production and marketing process can be systematically identified and managed. In the graph above, core steps in digital production and linkages between them are identified in the context of advanced digital technologies. These are general representations but provide a framework to analyze the activities and flow of content production. Product managers for the digital world. The role of the product manager is expanding due to the growing importance of data in decision making, an increased customer and design focus, and the evolution of software development methodologies. Product managers are the glue that bind the many functions that touch a productengineering, design, customer success, sales, marketing, operations, finance, legal, and more. They not only own the decisions about what gets built but also influence every aspect of how it gets built and launched. Stay current on your favorite topics. Subscribe. Unlike product managers of the past, who were primarily focused on execution and were measured by the on time delivery of engineering projects, the product manager of today is increasingly the mini CEO of the product. They wear many hats, using a broad knowledge base to make trade off decisions, and bring together cross functional teams, ensuring alignment between diverse functions. Whats more, product management is emerging as the new training ground for future tech CEOs. As more companies outside of the technology sector set out to build software capabilities for success in the digital era, its critical that they get the product management role right. Why you need a product manager who thinks and acts like a CEOThe emergence of the mini CEO product manager is driven by a number of changes in technology, development methodologies, and the ways in which consumers make purchases. Together, they make a strong case for a well rounded product manager who is more externally oriented and spends less time overseeing day to day engineering execution, while still commanding the respect of engineering. Data dominates everything. Companies today have treasure troves of internal and external data and use these to make every product decision. It is natural for product managerswho are closest to the datato take on a broader role. Product success can also be clearly measured across a broader set of metrics engagement, retention, conversion, and so on at a more granular level, and product managers can be given widespread influence to affect those metrics. Products are built differently. Product managers now function on two speeds they plan the daily or weekly feature releases, as well as the product road map for the next six to 2. Product managers spend much less time writing long requirements up front instead, they must work closely with different teams to gather feedback and iterate frequently. Products and their ecosystems are becoming more complex. While software as a service products are becoming simpler for customers, with modular features rather than a single monolithic release, they are increasingly complex for product managers. Managers must now oversee multiple bundles, pricing tiers, dynamic pricing, up sell paths, and pricing strategy. Life cycles are also becoming more complex, with expectations of new features, frequent improvements, and upgrades after purchase. At the same time, the value of the surrounding ecosystem is growing modern products are increasingly just one element in an ecosystem of related services and businesses. This has led to a shift in responsibilities from business development and marketing to product managers. New responsibilities for product managers include overseeing the application programming interface API as a product, identifying and owning key partnerships, managing the developer ecosystem, and more. Changes in the execution podIn addition to developers and testers, product development teams include operations, analytics, design, and product marketers that work closely together in execution pods to increase the speed and quality of software development. In many software organizations, the Dev. Ops model is removing organizational silos and enabling product managers to gain broader cross functional insights and arrive at robust product solutions more effectively. Consumerization of IT and the elevated role of design. As seamless, user friendly consumer software permeates our lives, business users increasingly expect a better experience for enterprise software. The modern product manager needs to know the customer intimately. This means being obsessed with usage metrics and building customer empathy through online channels, one on one interviews, and shadowing exercises to observe, listen, and learn how people actually use and experience products. Three archetypes of the mini CEO product manager. There are three common profiles of the mini CEO archetype technologists, generalists, and business oriented. These three profiles represent the primary, but not the only, focus of the mini CEO product manager like any CEO, they work across multiple areas for instance, a technologist product manager will be expected to be on top of key business metrics. Most technology companies today have a mix of technologists and generalists Exhibit 1. Exhibit 1. As these three archetypes emerge, the project manager is a fading archetype and seen mainly at legacy product companies. The day to day engineering execution role is now typically owned by an engineering manager, program manager, or scrum master. This enables greater leverage, with one product manager to eight to 1. Common themes across the three archetypes. An intense focus on the customer is prominent among all product managers. For example, product managers at Amazon are tasked with writing press releases from the customers perspective to crystalize what they believe customers will think about a product, even before the product is developed. This press release then serves as the approval mechanism for the product itself. There are, however, differences in how product managers connect with the users. While a technologist may spend time at industry conferences talking to other developers or reading Hacker News, the generalist will typically spend that time interviewing customers, talking to the sales team, or reviewing usage metrics. A new training ground for CEOs. Modern product managers are increasingly filling the new CEO pipeline for tech companies. Before becoming the CEOs of Google, Microsoft, and Yahoo, Sundar Pichai, Satya Nadella, and Marissa Mayer were product managers, and they learned how to influence and lead teams by shepherding products from planning to development to launch and beyond. Such experience is also valuable beyond tech Pepsi. Co CEO Indra Nooyi started her career in product managementlike roles at Johnson Johnson and Mettur Beardsell, a textile firm. While today such a background remains rare among CEOs, product management rotational programs are the new leadership development programs for many technology companies for example, see the Facebook Rotational Product Manager Program, the Google Associate Product Manager Program, and the Dropbox Rotation Program. Any critic of the analogy between product managers and CEOs will point out that product managers lack direct profit and loss responsibilities and armies of direct reports, so it is critical for product managers with ambitions for the C suite to move into general management to broaden their experience. The product manager of the future. Over the next three to five years, we see the product management role continuing to evolve toward a deeper focus on data without losing empathy for users and a greater influence on nonproduct decisions.