“Consumption Economics: The New Rules of Tech”
In their highly engaging and thought-provoking book, authors J.B. Wood, Todd Hewlin, and Thomas Lah make the case that information technology (IT) is migrating from a capital intensive model, where companies buy and maintain huge, complicated, and expensive data center, to a “utility”, where IT is delivered like electricity, and companies only pay for what they consume.
It is a compelling model for IT customers, and terrifying for IT vendors. The authors lay out “Three Big Things” that enabled the “new rules of tech” to come about; “Four New Thoughts” about IT (including that there is such a thing as “good enough” IT); and “Seven Big Shifts” that are happening.
If you are in the IT business – either as a vendor or a customer – this book is a very interesting read.
P.S. I have developed a module around this book for my Competitive Strategies course at Duke, and have also given talks on the topic to IT companies, all to very positive reviews.
Greg is a visionary, entrepreneurial executive with broad experience in formulating effective, actionable strategies for technology-based solutions. He brings leadership skills and knowledge in strategic analysis and planning, innovation management, and strategic marketing to create customer-focused competitive advantage. His extensive industry experience in companies large and small, in industries from high tech to healthcare, in product development/management, executive management, marketing, and strategy positions gives him the experience to know what works. Greg is an adjunct professor at Duke University, where he created and teaches “Competitive Strategy in Technology-based Industries” in the Masters of Engineering Management Program. He is chairman of the NCSU Technology Incubator Advisory Board, a member of the NCSU Industrial Extension Service Advisory Board, and co-founded a venture-backed startup. Greg is a Senior Member of the IEEE and a member of the Engineering Management Society, a member of the Product Development and Management Association (PDMA), and a member of the Association for Strategic Planning (ASP). He received a BS degree in Electrical Engineering from Lafayette College, and a Masters degree in Entrepreneurship from Western Carolina University. Greg is an excellent and inspiring speaker, presenter and educator. He is a frequent judge at business plan competitions and hackathons, including MetLife TechJam, Triangle Startup Weekend, and case study competitions at Duke and North Carolina State Universities.
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