Question 1: What role does data analytics play in shaping of an industry? Refer the text above and offer your understanding of it from the perspective of shipping industry. 2 Marks. (250 – 300 Words) Use at least 2 academic references using APA-style. Question 2: What would happen to the shipping companies that avoid working on technological innovation management? How can these companies create a sustainability plan? 2 Marks. (250 – 300 Words) Use at least 2 academic references using APA-style. Question 3: How does cloud platform help a typical shipping company in ensuring proper management of customer service? 1 Marks (150 – 200 Words) Use at least 2 academic references using APA-style.
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College of Administrative and Financial Sciences
Department of Business Administration
MGT325 – Management of Technology
Semester 2nd, 2018-19
Assignment – 3
Course:
MGT325
Student name:
Academic Year
Students number:
Semester:
student grade:
Section:
Level of the Mark:
Common Regulations:
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This assignment is an individual assignment.
All students are encouraged to use their own words.
Student must use APA style referencing.
A mark of zero will be given for any submission that includes copying from other
resource without referencing it.
If your assignment will be showing more than 25% plagiarism it will be graded as zero.
Before final submission check your level of plagiarism.
Submit your Assignment-3 before the end of week-13, otherwise you will not be allowed
to submit at all.
Assignment 3: Case Study Review
Date of Submission by Students: Before the End of Week – 13
Place of Submission: Blackboard
Marks:
05
Learning Outcome:
Learning Outcome
Demonstrate the dynamics of technological innovation concepts in
technology-intensive business enterprises. (Lo 1.1)
Demonstrate a solid understanding of the concepts and models for
making strategies to face challenges and improve the performance of
technology based enterprises. (Lo 1.2)
Evaluate projects objectively by various methods, select best projects
Assignment Question
Question 2
Question 1
Question 3
among possible alternatives and leads to problem solving (Lo 2.10)
Case Study
To survive and stay competitive in the current economic climate shipping companies must
find innovative ways of working by embracing modern technology. In a complex industry
known for being conservative and slow to adapt to new technologies, are companies aware
of the possibilities?
Outside the industry technology is causing the biggest shake up of processes and ways of
working since the industrial revolution and shipping companies are beginning to understand
its potential. Global management consultants McKinsey recently highlighted: “Over the past
few years, rapid technological advances in digitization and data and analytics have been
reshaping the business landscape, supercharging performance and enabling the emergence
of new business innovations and new forms of competition and business disruption.”
Many technologies used in other sectors can be applied to shipping. There is now a huge
opportunity to accelerate the digital transformation of the shipping industry. Technology
enables shipping companies to optimize the management of their entire fleet, automate
processes, increase their business performance, improve operational efficiencies and drive
down costs.
We see enormous potential for further progress driven by technology. Already, there’s been
commitment from the industry to bring the internet on board and make it available constantly.
This will bring great advances in terms of real-time data exchange, integrating the fleet directly
into all processes and enabling operators to gain a 360 ° overview of all events that are
happening within their fleet. This is a major step forward. Currently most ships are hardly
integrated into the internal processes of the companies.
As an industry with such complex management processes, this lack of ability to collaborate
and poor visibility of operations is risky and can lead to decisions and forecasts being made
based on minimal information. But even without the option for constant internet connection
on board – the use of modern management solutions, potentially cloud-based ones which
offer one central source of information for the office and the fleet is already bringing great
benefits in terms of improved data and information exchange, as well as reduction of
communication expenditures.
There will also be great advances in terms of data analysis. Starting in 2018, the new EU
MRV regulation will become effective. This will force shipping companies to monitor a variety
of parameters. This also marks the first step towards actual performance management and
should lay the foundation for an increase in the use of data analytics, leading to better
predictions for optimal routes, fuel consumptions and the maintenance of machinery. The
result will be a massive saving of costs.
Other potential game changers include mobility and cloud-technology, which are expected to
have a significant impact on the way shipping companies operate in the future. There have
been considerable advances in these fields. The benefits of using cloud technology, as well
as mobile devices, are numerous. They include the ease of data access and the availability
of information regardless of time or location. Additionally, the cloud makes it much easier to
integrate external systems and processes, through interfaces (APIs), e.g. web hooks into
each other.
The cloud is being embraced by some of the world’s leading shipping companies who are
taking advantage of increasingly affordable and accessible cloud platforms to implement
smarter, faster and more effective processes.
Question 1: What role does data analytics play in shaping of an industry? Refer the text
above and offer your understanding of it from the perspective of shipping industry. 2 Marks.
(250 – 300 Words)
Use at least 2 academic references using APA-style.
Question 2: What would happen to the shipping companies that avoid working on
technological innovation management? How can these companies create a sustainability
plan? 2 Marks.
(250 – 300 Words)
Use at least 2 academic references using APA-style.
Question 3: How does cloud platform help a typical shipping company in ensuring proper
management of customer service? 1 Marks
(150 – 200 Words)
Use at least 2 academic references using APA-style.
Good Luck
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