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anonymous

The High Risk of a 'Wait and See' Approach - Big Think - 0 views

  • On the surface, taking a “wait and see” approach seems to make sense
  • In the past, when we were going through rapid change (not massive transformation like we’re seeing today), a company could use a “wait and see” approach because it was harder for competitors to develop and deploy new offerings quickly, and it was harder for established competitors to change the game or redefine completely
  • Anyone, at any time, can quickly become more relevant than you because the barriers to entry are low and the ability to scale is fast
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  • deciding to “wait and see”—can quickly put you on a path of increasing irrelevancy or a rapid demise.
  • you can see how detrimental a “wait and see” approach can be—how you’re actually missing major new opportunities for sales and growth
  • Blockbuster Video may have changed how we rent movies, but Netflix transformed it
  • This year, many forward-looking school districts across the country are moving away from textbooks and issuing tablets filled with ebooks to students
  • This is a game-changing move, and one that will save the school about $25,000 each year
  • The way you can design for mobile users, engage visitors, increase sales, track people, and improve your rankings with search engine optimization are changing so rapidly that if your site is two years old, it’s obsolet
  • In reality, a “wait and see” approach has much more risk than the action being avoided.
  • Today, new competitors can emerge rapidly, and they can even be from another part of the world. Geography is increasingly less of a hindrance
  • deciding to “wait and see”—can quickly put you on a path of increasing irrelevancy or a rapid demise.
  • We’re transforming all of these things plus more, and if you don’t initiate the transformation, someone else will.
  • To see the difference between mere change and game-changing transformation, consider these examples: Barnes & Noble may have changed bookselling by creating the super bookstore, but Amazon transformed how we buy books and so much more
  • Therefore, you have to evaluate what you’re saying “no” to in terms of potential lost opportunity, because what you could gain by saying “yes” will often outweigh the perceived risk and expense.
  • Because technology is increasing so fast and because we are in a period of rapid transformation are the exact reasons why you can no longer “wait and see” what will happen.
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    This article discussed the importance of being ahead of the curve and why the 'wait and see' approach is not beneficial in most cases. If you 'wait and see' you can become irrelevant very quickly as there are many others out there, in many cases other parts of the world, making new inventions and discoveries daily. This article gave a great example where a school system implemented tables and the amount of money they saved was $25k/year. There are many benefits to staying ahead of the curve and as the article states "If you don't do it, someone else will".
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    A "wait and see" approach has a higher risk than it being avoided. One of the cons is that it can pave the way to a company no longer being relevant. New opportunities for sales and growth may be missed if a company does not begin to evolve quickly.
anonymous

The high risk of "wait and see" by Daniel Burrus - 1 views

  • The high risk of “wait and see”
  • On the surface, it makes so much sense, doesn’t it? After all, we’re dealing with a national and global economy filled with uncertainties … right?
  • Wait and see certainly seems less risky than sticking our necks out. Right? Wrong.
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  • To wait is too late
  • These days, a wait-and-see strategy carries more risk than the action it postpones. Sometimes, a lot more risk.
  • Motorola, Kodak, and Polaroid all played wait and see with the shift from analog to digital. Blockbuster played wait and see with the move to online video.
  • In the past, you could afford to wait and see. It was harder for competitors to develop and deploy new offerings fast. There was time to watch new developments and then react. It was harder for newcomers, let alone established players, to completely change the game overnight.
  • Today we’re in a time of light-speed transformation. Today, new competitors can emerge rapidly, even from completely different parts of the globe. The barriers to entry are absurdly low.
  • Understand:  transformation is vastly different from mere change.
  • “Wait and see” is often rooted in budget concerns. Let’s say someone suggests your company redesign its website. You shoot down the suggestion:  “No, we already have a website that works just fine.” Designing a new site would costs money, while playing wait and see avoid that new expense … right? Not necessarily.
  • Stop waiting, start doing
  • How can we reinvent retail?” They embraced a transformational mindset to redefine retail and extend their brand.
  • In a world filled with uncertainty, it’s easy to fall into a wait and see mindset. But saying “Not now” bears a cost just as high as saying “Let’s do it!” – if not higher. Remember this:  If you don’t do it, someone else will. They’re doing it right now!
Brittany K. Ward

http://nrn.com/latest-headlines/wait-list-management-software-improves-restaurant-opera... - 0 views

  •  
    Operators of restaurants are excited about new wait-list management software. The software allows for restaurants to use tablets technology to create a more efficient wait-list, in-turn improving restaurant operations. The employee enters the name, party size, and any other important information. Then the software prioritizes the seating by the amount of time a party has been waiting. The program also generates estimate wait times and has the capability to notify the guest when their table is available. The software goes as far as allowing for the guest to text back how long it might take them to return to the restaurant, if wondering off-site, or for them to cancel the reservation allowing other wait-lister's to be seated. Many establishments such as Red Robin, Texas Roadhouse, and Yard House now use this wait-list management software. They report that the software improves wait times by almost half. It allows for auto calls and text to communicate with guests on the wait-list. It also improve ticket flow to the kitchen all of these combine reducing the wait times. All in all the software has improved restaurant operations for these establishments utilizing the wait-list management software.
Jessica Rodriguez

The High Risk of a 'Wait and See' Approach | Big Think - 1 views

  • seems less risky.
  • In reality, a “wait and see” approach has much more risk than the action being avoided
  • Today, new competitors can emerge rapidly, and they can even be from another part of the world.
  • ...12 more annotations...
  • transformed
  • eography is increasingly less of a hindranc
  • if you don’t initiate the transformation, someone else will.
  • transformation
  • Geography is increasingly less of a hindrance.
  • transformed
  • transformed
  • transformed
  • For example, suppose someone suggests that your company have its
  • website redesigned. You may immediately shoot down the suggestion and say, “No. We’re not investing in that. We already have a website that works just fine.” It seems that the expense of creating the new website comes when you say “yes.” It’s less expensive to “wait and see.”
  • Because technology is increasing so fast and because we are in a period of rapid transformation are the exact reasons why you can no longer “wait and see” what will happen.
  • If you don’t do it, someone else will.
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    This article summarizes the "wait and see" approach and explains why this approach is no longer effective in the business world today. Technology is far too advanced for competitors to not have the ability to hop onto new ideas as soon as possible. Waiting and seeing will put your business incredibly behind since guests will begin to use those companies who have been using the newer approaches first.
Melisah Miller

Red Robin, Texas Roadhouse, Yard House use wait-list technology | Latest Headlines cont... - 0 views

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    This article is about the incorporation of new technologies such as a tablet in restaurants. It discusses how using the new software's and services cut down waiting times within the restaurants and is generating more business. The article also explains through the point of view from managers that using these technologies have improved the flow of work in specific restaurants.  Using these new technologies is a good idea for the restaurants to use because it simplifies things for the customer. Although some people may not have text messaging, it benefits those that do. An example is in a shopping plaza that has restaurants or even in a mall; with this new technology if the wait is long customers do not have to stand in one section just to wait for a seat. These customers can walk around without the worry of being out of signal for the buzzer to go off.
Michelle Munne

NoWait Helps Restaurants Master the Wait in Augusta - 0 views

  • Home News Center Blog Login Create Account United States United Kingdom France China Front Page Arts Business Education Environment Government Industry Lifestyle Sports Tech OtherAutomotiveComputerEventsHealthHome and Family Legal / LawMediaMiscellaneousOpinion / EditorialPodcasting ScienceSociety Friday, March 22, 2013 RSS E-mail Newsletters Put PRWeb on your site NoWait Helps Restaurants Master the Wait in Augusta Mobile waitlist technology to replace outdated restaurant pagers and grease-pen wait list systems to manage massive crowds; NoWait to donate to Augusta Warrior Project
  • The company, NoWait, is working with Augusta Mayor Deke Copenhaver to equip the city’s restaurants with an army of iPads outfitted with NoWait’s seating management technology.
  • Because NoWait’s system is phone-based, customers can move freely between local establishments while they wait. That is revenue we wouldn’t normally receive...revenue that means jobs.”
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  • In no-reservation restaurants, NoWait’s cloud-based, mobile seating service streamlines operations and optimizes turnover thanks to its ease of use, speed, and overall simplicity.
  • Smartphone holders also may view their place in line via a link inserted in the instant confirmation text.
  • Once the table is ready, the diner receives a text to return to the restaurant to be seated without delay.
  • The training and product are very easy to use,
  • According to Ware Sykes, NoWait’s New York City-based CEO, the company is now seating more than a million diners a month, with plans to roll out significant enhancements to its system over the next 60 days.
  • About NoWait NoWait is a mobile seating management service that enables restaurant owners and managers to get a view of the queue and optimize turnover, while diners have the freedom to “Wait Where You Want” until their table is ready for seating.
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    This article is about a company, NoWait, that is quickly expanding throughout the U.S. and Canada.  They provide technology in the form of software or apps on an iPad that helps busy restaurants to maximize table turnover and minimize wait times for guests.
pattyjoe10

6 Lesser Known Uses of Beacons in Restaurants | News | Hospitality Magazine (HT) - 1 views

  • allowing customers to order ahead
    • pattyjoe10
       
      Beacons allow customers to order-ahead of time. It attracts a different clientele and allows us to gain others because of a shorter or no waiting time. Like an express line. But they have to make sure the order is left ready by the time customers arrive.
  • consumers today value personalized, contextual mobile engagement, built around their current location, interests and buying preferences.
  • 80% of consumers prefer receiving personalized, context-aware branded content through their mobile app.
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  • Therefore, it is highly likely that, merging mobile marketing efforts with iBeacon technology could result in higher click-through, quicker conversion, more sales and greater loyalty.
    • pattyjoe10
       
      Technology has taken a huge toll on society and business now a day. If our business is keeping itself updated with technology, could mean we are at the top of our game. 
  • Q app
  • busy a restaurant is at a particular time
  • real-time information
    • pattyjoe10
       
      Beacons also allow customers to know exactly how much people are at that exact time at the restaurant or business, and thus waiting time, if any.
  • not overwhelm users with notifications
  • deep understanding of the value offered to customers and deliver it in the best way possible.
    • pattyjoe10
       
      I believe this is one of the most challenging for businesses. Customers (as myself) hate when we get attacked by too much notifications.  If it were useful in anyway or if it called my attention every now and then, buy companies apparently don't pay attention to how customers may feel.  It is very important to use the access wisely and give out information customers really want. Offer what they are looking for, by personalizing.
  • delivering personalized deals and messages
    • pattyjoe10
       
      Attract customers by promoting events or special offers. People like a place they can see as happy and fun. Also, who doesn't like discounts.
  • prevent boredom
  • offer customized discounts for first-time customers, encouraging them to come back often
    • pattyjoe10
       
      I believe this is one of the best efforts to retain and gain customers. Reward the customer who passes by every now and then, with personalized dishes; and reward  first time customers by attracting them with discounts specifically for them.
  • deliver custom menus to valued customers based on previous orders and visit history
  • awarding crawlers
  • ollect massive amounts of untapped data
    • pattyjoe10
       
      Another must. Keep track of everything to better improve employee wages and specifics of customers that are out-and-about.
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    Technology has taken a huge toll on society and business now a day. If our business is keeping itself updated with technology, could mean we are at the top of our game. This article briefly  demonstrates how Beacons can help improve your business by providing how, when and where are customers behaving. For example, Beacons allow customers to order-ahead of time. It attracts a different clientele and allows us to gain others because of a shorter or no waiting time. Like an express line. But  it may become a challenge if the business doesn't know how to ensure a time-effective preparation before customers arrive. Beacons also allow customers to know exactly how much people are at that exact time at the restaurant or business, and thus waiting time, if any. Another advantage would be "push-customized notifications". I believe this is one of the most challenging for businesses. Customers (as myself) hate when we get attacked by too much notifications.  If it were useful in any way or if it called my attention every now and then, but companies apparently don't pay attention to how customers may feel.  It is very important to use the access wisely and give out information customers really want. Offer what they are looking for, by personalizing. It also helps to attract customers by promoting events or special offers and notifying via beacons. People like a place they can see as happy and fun. Also, who doesn't like discounts? A fifth advantage, and as I believe to be one of the best ways to retain and gain customers, is to reward the customer who passes by every now and then, with personalized dishes, and reward first time customers by attracting them with discounts specifically for them. And finally, another must consider, is that beacons help keep track of everything (all happening at a specific given time) to better improve employee wages and specifics of customers that are out-and-about.
  •  
    Technology has taken a huge toll on society and business now a day. If our business is keeping itself updated with technology, could mean we are at the top of our game. This article briefly demonstrates how Beacons can help improve your business by providing how, when and where are customers behaving. For example, Beacons allow customers to order-ahead of time. It attracts a different clientele and allows us to gain others because of a shorter or no waiting time. Like an express line. But it may become a challenge if the business doesn't know how to ensure a time-effective preparation before customers arrive. Beacons also allow customers to know exactly how much people are at that exact time at the restaurant or business, and thus waiting time, if any. Another advantage would be "push-customized notifications". I believe this is one of the most challenging for businesses. Customers (as myself) hate when we get attacked by too much notifications. If it were useful in any way or if it called my attention every now and then, but companies apparently don't pay attention to how customers may feel. It is very important to use the access wisely and give out information customers really want. Offer what they are looking for, by personalizing. It also helps to attract customers by promoting events or special offers and notifying via beacons. People like a place they can see as happy and fun. Also, who doesn't like discounts? A fifth advantage, and as I believe to be one of the best ways to retain and gain customers, is to reward the customer who passes by every now and then, with personalized dishes, and reward first time customers by attracting them with discounts specifically for them. And finally, another must consider, is that beacons help keep track of everything (all happening at a specific given time) to better improve employee wages and specifics of customers that are out-and-about.
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    Creative and a bit scary application of existing technologies. Much like Facebook Messenger, when do we cross the line between convenience and forfeiture of privacy? As part of the industry, the responsibility falls to us to manage the line in favor of our guests. They will know when it has become too much, and we will know very soon after when business evaporates. Provide friendly, targeted service without being too invasive. Remembering orders and having them ready on time is fine. Sending a pop-up message every time the guest passes by in a cab may be a bit much. Consider how many Starbucks messages you could receive in any major metropolitan area. Without proper care, we could be giving a whole new meaning to the word Spam.
tjcamino

15 Benefits of Having Digital Menu Boards in Your Restaurant - 0 views

  • While the core focus of a restaurant might be to serve delicious food, what missed out is the paper menus and restaurant chalkboard on which restaurant invest lot of time and mon.
  • 1. Digital Menu Display Makes Communication Easier
  • It gives you better control over what you want to highlight on your menu which indirectly influences the choices of order of a customer.
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  • use videos or animations that catches more attention and also makes the communication much easier
  • grab user’s attention with videos and animations
  • pdate can be made in a matter of seconds and whenever you want to.
  • 3. Sound Investment Saving Money
  • convenience with an added benefit of cost savings. Since you don’t have to print new menus or promotional material regularly
  • 4. Digital Display Create a More Memorable Experience
  • The right mix of graphics and videos can keep customers entertained
  • enhance the overall customer experience.
  • 5. Better Visibility of Menu
  • 2. Save Time by Easy to update Digital Display
  • ye pleasing than the regular paper
  • 6. 24/7 Support
  • Many restaurants have started opting for 24/7 menus which create an impression on passersby too
  • 7. Boost Sale up to 21-23%
  • said to have boost up sales by 21-23%
  • You can change menu items, prices, and promote specials without having to invest anything more to have your menus changed
  • 8. Promote and Upsell Your New Items
  • sell and promote your newly introduced items on the menu.
  • 13. Reduce Wait Time
  • Moreover a restaurant can use several other things like display fun facts or display promotional material to distract the waiting customers and get them less frustrated.
  • 14. Meet Health Care Regulations
  • display calorie counts next to each menu item.
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    Week 4 Article Summary 15 Benefits of Having Digital Menu Boards in Your Restaurant. This article discusses the positive ways in having a digital menus and explains the benefit it has on the restaurant. The focus of the restaurant should be more on the quality of food being served. Even though there are a lot of restaurant that give you an experience like no other but if the food is not top quality it will be hard to bring customers back. Having this type of digital menus could enhance the guest experience while helping the restaurant increase revenues. Here are ten of the top fifteen positives reasons of having a digital menu boards. 1) Digital menu displays will make communication easier. This starts form the customer directly to the kitchen. It will also allow the establishment to display videos and animations that will catch the eyes of the customers and could highlight specific menu items. 2) Saves time by easy updates on display. The software will allow the restaurant to update the menu very easy. You could add and take away dishes without having to print all new menus. It will also allow you 86 items that are sold out at any time during the shift. 3) Sound Investment of saving money. With the system allowing you to change menus, it will save money because you won't have to pay to print new menus every time you want revise it. 4) Digital displays create a more memorable experience. With having a digital screen, it will allow the customer to stay entertained by having a right mix of graphic videos and allowing them to keep them occupied during down times. 5) Better Visibility of menu. The display on the tablet will allow the guest to see a nice HD screen with colors that will make it easy to see and read. 6) 24/7 support. No matter what time of day, there will be support for mangers to trouble shoot any issues that might be happing at time. 7) Boost sales up to 21-23%. It has been said that having an emenu will increase revenues by allowing the establ
Ashley Reed

Urbanspoon Unveils Rezbook "Right Now" - Yahoo! Finance - 1 views

  • Now" for Urbanspoon Rezbook, enabling diners to view immediate table availability at their favorite restaurants, both for reservations and walk-ins.
  • new functionality gives diners the immediate gratification of securing a table when they want it, and accessing table availability at a broader pool of restaurants that may not take reservations or have heavy walk-in and waitlist traffic.
  • Restaurants have a unique opportunity to market open inventory that's never been available to them before."
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  • Real-time availability: The new functionality enables consumers to view current availability and book a table at their favorite restaurants, or a new restaurant they want to try
  • Waitlist: If users are interested in a restaurant that does not take reservations, they can now learn how long the wait is, and how many diners are on the list ahead of them Restaurant marketing tool: "Right Now" provides a new tool for restaurants to push out and market new inventory to diners on the go Availability bar: Diner
  • s can view restaurant availability in aggregate, with table inventory automatically populating a bar marked "Tables Available Right Now," on the Urbanspoon iPhone app home screen; Restaurants can easily flip the switch on and off to publish information about their wait list, including walk-in availability and wait times
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    The article, Urbanspoon Unveils Rezbook "Right Now", highlights a new chapter in online reservation resources available to customers on their home computers or their smart phones. Urbanspoon's new application rivals Open Table. The "Right Now" feature allows guests to view what restaurants in their area have open tables, make reservations 'right now', view current wait times, and amount of guests in front of them. This allows restaurants to reach a market they might not have before and can provide them with new business. The goal of restaurants is to turn first-time guests into regulars, and Rezbooks is a great way to introduce new guests to your establishment. Not only can they reserve or find a table online, guests can also directly rate the restaurant and post details on their dining experience. This enables restaurants to get immediate feedback (positive or negative), especially since the application is readily available from smart phones. The new Urbanspoon application can work to provide new business while streamlining the seating process. For instance, even if a restaurant offers a 15-minute grace period for seating, to the diner they have conveniently jumped ahead of the wait in an otherwise busy setting. In our world of instant gratification, Urbanspoon's "Right Now" seems to fit in just right.
Irine Wallace

Opera Property Management System - 0 views

  • Reservations ― features are integrated with other functionality such as profiles, cashiering and deposits. This property management software module provides a complete set of features for creating and updating individual, group and business block reservations, including deposit handling, cancellations, confirmations, wait listing, room blocking and sharing.
  • Reservations ― features are integrated with other functionality such as profiles, cashiering and deposits. This property management software module provides a complete set of features for creating and updating individual, group and business block reservations, including deposit handling, cancellations, confirmations, wait listing, room blocking and sharing.
  • Reservations ― features are integrated with other functionality such as profiles, cashiering and deposits. This property management software module provides a complete set of features for creating and updating individual, group and business block reservations, including deposit handling, cancellations, confirmations, wait listing, room blocking and sharing.
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  • Reservations ― features are integrated with other functionality such as profiles, cashiering and deposits. This property management software module provides a complete set of features for creating and updating individual, group and business block reservations, including deposit handling, cancellations, confirmations, wait listing, room blocking and sharing.
  • Profiles ― complete demographic records for guests, business accounts, contacts, groups, agents and sources. Profiles include addresses, phone numbers, membership enrollments, stay and revenue details, guest preferences and additional data that make reservations handling and many other activities faster and more accurate.
  • Back Office Interface ― revenue transfers, market statistics transfers, daily statistics transfers, and city ledger transfers can be easily made from OPERA Property Management System to a back office system.
  • Rooms Management ― handles all facets of room supervision including availability, housekeeping, maintenance and facility management. The Queue Rooms feature of the property management software coordinates Front Office and Housekeeping efforts when guests are waiting for rooms which are not immediately available for assignment.
  • Cashiering ― posting guest and passer-by charges (including taxes and other generates), making posting adjustments, managing advance deposits, settlements, checkout and folio printing are a few of the many activities handled by OPERA Cashiering. Cashiering accommodates multiple payment methods per reservation including cash, check, credit cards and direct bill. In multi-property environments, guest charges can be cross-posted from any property in the hotel complex
  • Cashiering ― posting guest and passer-by charges (including taxes and other generates), making posting adjustments, managing advance deposits, settlements, checkout and folio printing are a few of the many activities handled by OPERA Cashiering. Cashiering accommodates multiple payment methods per reservation including cash, check, credit cards and direct bill. In multi-property environments, guest charges can be cross-posted from any property in the hotel complex
  • Cashiering ― posting guest and passer-by charges (including taxes and other generates), making posting adjustments, managing advance deposits, settlements, checkout and folio printing are a few of the many activities handled by OPERA Cashiering. Cashiering accommodates multiple payment methods per reservation including cash, check, credit cards and direct bill. In multi-property environments, guest charges can be cross-posted from any property in the hotel complex
  • Cashiering ― posting guest and passer-by charges (including taxes and other generates), making posting adjustments, managing advance deposits, settlements, checkout and folio printing are a few of the many activities handled by OPERA Cashiering. Cashiering accommodates multiple payment methods per reservation including cash, check, credit cards and direct bill. In multi-property environments, guest charges can be cross-posted from any property in the hotel complex
  • Cashiering ― posting guest and passer-by charges (including taxes and other generates), making posting adjustments, managing advance deposits, settlements, checkout and folio printing are a few of the many activities handled by OPERA Cashiering. Cashiering accommodates multiple payment methods per reservation including cash, check, credit cards and direct bill. In multi-property environments, guest charges can be cross-posted from any property in the hotel complex
  • Cashiering ― posting guest and passer-by charges (including taxes and other generates), making posting adjustments, managing advance deposits, settlements, checkout and folio printing are a few of the many activities handled by OPERA Cashiering. Cashiering accommodates multiple payment methods per reservation including cash, check, credit cards and direct bill. In multi-property environments, guest charges can be cross-posted from any property in the hotel complex
  • Your front desk often makes the difference between ‘never agains’ and ‘long-term relationships.’ At the core of the OPERA Enterprise Solution is our premier property management software, the OPERA Property Management System (PMS). Designed to meet the varied requirements of any size hotel or hotel chain, OPERA PMS provides all the tools a hotel staff needs for doing their day-to-day jobs – handling reservations, checking guests in and out, assigning rooms and managing room inventory, accommodating the needs of in-house guests, and handling accounting and billing. The property management software is configurable to each property’s specific requirements and operates in either single-property or multi-property mode, with all properties in an enterprise sharing a single database
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    SUMMARY OPERA Property Management System is fully integrated with all the OPERA modules and offers the most extensive list of certified interfaces in the industry. FEATURES: Reservation, rate management, profiles, front desk management, back office interface, room management, cashiering, account receivables, commissions, reporting, fully configurable, global perspective, hospitality system interface, opera express, tailored to fit hotel's operational business needs, scalable to suit the size of the hotel, helps operators to become more productive, profitable and professional, and delivers fast, accurate and online information on property
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    A lot of hotels use OPERA as their property management system. I have never personally worked in a hotel so I am not familiar with PMS's but from everything that I have read and heard from people is that OPERA is very efficient with everything. This system seems as though it can do everything for your property just the way that you would like it to. OPERA is customizable to your company's needs which seems great. This is a great website that you posted as it informs all of us exactly what this PMS is capable of.
swhit133

The High Risk of a 'Wait and See' Approach - 0 views

n reality, a "wait and see" approach has much more risk than the action being avoided. Here's why. In the past, when we were going through rapid change (not massive transformation like we're seeing...

https:__bigthink.com_flash-foresight_the-high-risk-of-a-wait-and-see-approach

started by swhit133 on 16 Oct 18 no follow-up yet
anonymous

New Carbon Capture Technologies Just Waiting For IRS Green Light - 0 views

  • Innovative carbon-capture projects are ready to launch in the U.S., according to experts gathered yesterday by the Atlantic Council, but they are waiting for IRS guidance expected since fall.
  • The guidance should resolve uncertainty over how companies can take advantage of the carbon capture tax credit in Section 45Q of the Internal Revenue Code.
  • “We’ve seen more governments embrace net-zero targets,”
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  • CCS is taking off now in part because of the IPCC’s 2018 report on 1.5º of global warming.
  • some governments increased their ambition from a 40% or 50% reduction in emissions by mid-century to net-zero emissions.
  • we think is the next generation of carbon capture.”
  • Even without the new policies, three new CCS projects are in development in the U.S., all tied to power plants,
  • Ten are in development in Europe, equal to the total number now operating in the U.S.
  • “First, we'll see more carbon capture on natural gas power plants,”
  • “and in many places the license to operate for natural gas-fired power plants will be dependent on capturing their CO2.”
  • Second, many projects will capture methane to produce hydrogen, storing the CO2.
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    As there is a rush to fix emission gases in our ozone, some scientists are invented new technology to help eliminate CO2 gases in our air. One of their inventions helps take CO2 gases from the air and fixes it into basaltic rock. Another stores CO2 gases for power for natural-gas power plants. However the USA is still waiting for approval from the IRS to implement a carbon capture tax credit.
kmira026

Why You Should Take a 'Wait-and-See' Approach to New-Product Launches - 0 views

  • While most inventors would love to create something completely new, that's not always necessary. Often, it's enough -- and a brilliant marketing tactic, even -- to imitate your rivals and then add a few tweaks.
  • Pandora used imitation and a delayed launch to woo paid streaming-service users with the promise of a more personalized experience.
  • Instead of being first to the marketplace, being last may actually present more opportunities and stability.
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  • Regardless of the solution they eventually offer, entrepreneurs who hang back can avoid early fatal flaws that interrupt fantastic consumer experiences.
  • Poor marketing, uber-techiness and overspending.
  • 1. Watch, look and listen.
  • 2. Use negative sentiment to your advantage.
  • Capitalize on negative press swirling around your competition by waiting to release a similar product.
  • While we love a story of bold innovation, innovation doesn't always keep the lights on. Sometimes, it's far wiser to come in second or third where the spotlight is less blinding -- there, you can see where you're going.
  • 3. Differentiate yourself through great execution.
  • As you read through social media posts and dig into articles on your competition's products, figure out where things went awry. Make sure you don't stumble over the same roadblocks.
  • Apple has merely found a smoother path to streamline a service people want and already use
  • Lyft and Uber have been entangled in a fight like this for a while.
  • When President Donald Trump's travel ban rather circuitously led to #DeleteUber momentum, Lyft took advantage of the opportunity to outshine its rival. Not only did Lyft donate to the American Civil Liberties Union, but it has also enjoyed a 7 percent increase in customers since January 29. Lyft wasn't hasty, and it swung with the popular sentiment pendulum.
  • You might think you have a revolutionary product, but what if the market disagrees? If your top competitor just released a similar product and its sales are flailing, you owe it to yourself to analyze what's happening. Could it be that the market for your product just doesn't exist yet? If so, how can you pivot so you can produce an actual game-changer, not a wannabe?Segway knows all about this challenge: It discovered its product's market was limited by cost and individual desire. By the time it was put to bed, it was no longer a technological marvel -- it was just a punchline. Chances are good that leaders of a company waiting to market a Segway-like creation put plans on hold when they saw the fallout and chose to execute their innovations differently.4. Do the common uncommonly well.
  • leapfrogged over the issues plaguing its competitors, solidifying itself as a smarter, less-glitchy solution for music lovers, thanks in part to what it's calling the Music Genome Project.
    • kmira026
       
      benefit of wait and see approach
  •  
    This article goes into being patient when it comes to launching a new or similar product. Many companies try to be a trendsetter but sometimes taking the backseat is much beneficial. Startup and trial and error runs are ultimately decreased. Reviewing the feedback of others on social media outlets can help make sure you don't stumble over the same issues.
  •  
    This article explains why a wait & see approach is sometimes the best approach for some companies before launching a product in a very competitive market which already has a company providing the same product to consumers. Many companies have waited to see what issues consumers are complaining about when their competitors have launched a product to later launch a better product better than that if the competitors. Such companies are Pandora versus Apple Music, Lyft versus Uber, Apple Cash versus Venmo, QuickPay, and Square Cash.
anonymous

Wait-and-See Could Be a Costly AI Strategy - 1 views

  • Competitive Intensity Matters
  • Sometimes waiting can be a winning strategy, but that outcome depends on the intensity of competition.
  • The Window of Opportunity Will Close Fast
  • ...2 more annotations...
  • According to our analysis, 50% of companies are likely to find themselves in that position because they will wait to adopt AI until revenue competition precludes cost recovery.
  • The longer they wait, however, the more likely it is that AI gains will dissipate.
anaslip

Most companies taking 'wait-and-see' approach to coronavirus | CFO Dive - 0 views

  • Most companies taking 'wait-and-see' approach to coronavirus
  • North American companies are bracing for negative business impact due to the coronavirus outbreak
  • Despite rising concern of the effect coronavirus will have on their businesses, most U.S. companies are taking a "wait-and-see" approach when it comes to adjusting their executive pay and sales compensation programs
  • ...6 more annotations...
  • Additionally, a survey from Gartner's risk management practice found that 56% of business leaders rated themselves as "somewhat prepared," for the outbreak, with 11% relatively or very unprepared.
  • Companies are increasingly expecting that the coronavirus will adversely affect their businesses. Yet, because the exact impact of the virus is uncertain, compensation committees and executives are not making immediate changes to their organizations’ pay programs — at least for now
  • 34% of companies expected the virus to have a "moderate or large negative impact" on their business over the next six months. 44% companies say their annual executive incentive plan has been or will be affected by coronavirus, but nearly one in five intends to adjust funding or targets for the plan.
  • A recent survey by Gartner’s risk management practice aligns with Willis Towers Watson’s findings; just 12% of Gartner’s 1,500-plus respondents believe their businesses are highly prepared for the impact of coronavirus, with 26% believing it will have a negligible impact at all.
  • 56% of respondents rated themselves somewhat prepared, and 11% said they were either relatively or very unprepared
  • It’s nearly impossible to predict exactly if or how a particular scenario will unfold or even when
  •  
    This article is a perfect example of this week`s topic. It`s a good illustration of a "wait and see" approach. The article gives you a lot of numbers to support its point.
Emily Bova

Wireless service: Waiters toting tablets, wine lists via Wi-F - 0 views

  • wait staff with iPods and iPads to take food orders.
  • he iPod's point-of-sale system application wirelessly sends the customer' order to the kitchen - free of illegible handwriting.
  • the retail price for his two iPads and 10 iPod Touches, plus $2,000 for the software license. He expects to recover the cost through reduced expenses on pens and paper.
  •  
    Restaurants have been turning more to high tech tools to better their services. A restaurant in Chapel Hill, NC has given its wait staff iPods and iPads to take food orders instead of writing with a pen and paper. Guests can look at photos of the dishes to help them make their decision and when the order is complete, the server can send it wirelessly to the kitchen.  This is a great way to increase customer service and overall satisfaction on both ends. It reduces wrong orders and is a green incentive as it eliminates much of the restaurant's paper use. However, it is a pricey investment to make. The restaurant owner in Chapel Hill said he expects to recover the cost in the long run through reduced expenses on paper and pens.  The wait staff reported they liked this new way of taking orders because they don't have to worry about their writing being illegible or their hand cramping up from writing so fast. It is beneficial for the customers in that it is a more interactive way for them to order and get something they have a better chance of liking since they can see photos. It also eliminates problems seeing a printed menu in dark lighting. Additionally, orders are processed right away so guests don't have to worry about their food taking a long time to come out because the server either forgot to put it in or they were running around doing other things before getting to the POS station. 
Yudika Claude

Uber and Foursquare Co-Founders Lead $15M Investment in Dining App Reserve | Street Fight - 0 views

  • Uber and Foursquare Co-Founders Lead $15M Investment in Dining App Reserve
  • Expa, the startup accelerator founded by Uber co-founder Garrett Camp and Foursquare co-founder Naveen Selvadurai, has led a $15 million venture investment in Reserve, a startup that wants to combine reservations and payment into a seamless end-to-end dining experience.
  • The company, which currently operates in New York, Boston, Los Angeles and San Francisco, equips merchants with an iPad pre-loaded with the company’s application. Restaurants use the application to accept or decline reservations, and then process the check when a diner who made a reservation with Reserve finishes a meal.
  • ...5 more annotations...
  • app eliminates the need to wait for a check
  • a person uses the Reserve app to schedule a reservation at a participating restaurant, they store their credit card information and tipping preferences. At the end of a meal, a server simply selects the reservation, processes the payment, and provides the diner with a small business card reminding them that they paid via Reserve. The company charges diners a flat $5 rate for all transactions.
  • muted take on surge pricing
  • allows restaurants to accept bids for highly-sought-after reservations, creating a more organic way for businesses to profit on moments of intense demand
  • the company has focused on working with higher-end restaurants as a way to diminish the impact of the startup’s relatively small fee but also as a way to ensure the product was used correctly by restaurants
  •  
    Introducing the new dining app Reserve. It creates a seamless dining experience by storing a customer's credit card info upon reservation and immediately charging it once the meal is completed, also charging the customers' preferred tip. That way customers do not have to wait for the back and forth that occurs once they are done with their meal and servers collect payment. While the idea seems amazing, I am worried about the safety of storing people's credit card information on this app.  I also think that with the tipping already pre-included, the incentive on the wait staff's part to deliver great service is diminished. It is also a negative for the client because even if they are not satisfied with the service (or on the other hand if they feel that their server went above and beyond), they are not able to adjust the pre-arranged tip accordingly.  I do think that it is a great way for restaurants to make a nice profit through bids for "highly-sought-after reservations" because people will be more willing to spend a lot to to ensure they get a table at fancier restaurants. 
mtedd003

Meet the Soaring Demand for Unattended POS in the Restaurant and Retail Verticals - Dat... - 0 views

  • One of the latest trends that have made it necessary for solutions providers businesses to adapt is the booming unattended POS trend. The global interactive kiosk market saw record growth in 2018, reaching $9.22 billion and a 17.6 percent growth rate — which exceeded the growth rate in 2017.
  • Last year, McDonald’s announced a plan to install self-service kiosks in 1,000 of its stores per quarter.  Taco Bell planned kiosk installations in more than 6,000 locations, and Subway included self-service kiosks in its “Fresh Forward” initiative to transform customer experiences.
  • Furthermore, 60 percent say they’d visit restaurants more often if they had self-service kiosks.
  • ...8 more annotations...
  • Erba Collective, a Los Angeles cannabis dispensary, installed self-service kiosks that accepted cashless payments to reduce wait times and increase customer turnover.
  • It’s the right solution for today’s consumers: Consumers value their time, and waiting in line can destroy an otherwise great customer experience.
  • It’s the right solution for today’s businesses: Merchants are facing mounting challenges ranging from rising labor costs to new competition. Self-service kiosks can help businesses do more with the same staff, minimizing the labor required for order taking or checkout.
  • o provide unattended POS solutions, you will need to speak with your vendors or find new partners that offer the types of hardware you need. It’s also vital that you work with a payments partner with expertise in managing unattended POS transactions.
  • EMV chip technology will help prevent card fraud.
  • part of their omnichannel strategies
  • If your goal is to be a total solutions provider and meet all of your customers’ needs
  • one-stop shop.”
  •  
    Unattended POS is growing global trend which industry leaders will soon have to adapt in their business place. Quick service restaurants are quickly adapting to this change as it reduces wait time and increase in customer return rate. Other key benefits for businesses are the decrease in labor costs & minimal errors when processing guests' request. Ideally, merchants must speak with vendors to customize the self-service kiosk and to ensure they are in compliance. In the end this will expand revenue and efficiency.
  •  
    Unattended POS machines hit a global growth of $9.22 billion in 2018 from 2017, and is still climbing. The unattended POS machine has shown to be particular popular in the quick service restaurant sector. McDonald's has announced a plan to put 1,000 self-service kiosks in their stores per quarter. Taco bell and Subway have also announced they will be adding the kiosks in their stores as an initiative to offer a heightened customer experience. The machines have come with the benefits of reduced wait time and faster customer turnover. POS growth is attributed to aligning with today's consumers' expectations. Customers value their time and rising labor costs can be eased with the machine as it expedites transactions and covers tasks not relied on by human interaction.
Katie Gallagher

Brink Software, Cloud-based Point of Sale for the Hospitality Industry, Announces Smart... - 0 views

  • Unlike other players in the industry, Brink provides for its clients, a rich suite of fully integrated technology offerings from online ordering, regardless of device; to back-end analytics that are regularly updated from the cloud, with no interruption of services and at no additional cost and allowing restaurant owners and managers to stay focused on what they love, cooking.
  •  
    This article was about a smartphone application that allows customers to place orders and purchase their meals on their personal phone. Brink Software is leading the way in cloud-based POS and made this application available for iPhones and Andriods. By having this application and software in restaurants it lets the owners and managers focus on what they love doing, cooking. When a customer comes into the restaurant they order off the menu that is at their table using QR codes and their phone. The order immediately is sent to the kitchen. The customer then waits for the food to be brought out by the kitchen. They guest will pay with their phone and then be on their way. It also works with take-out as well. The customer would log onto the app, order off the menu, and then choose a pick up time. Their food is then fired in the kitchen at the correct time so it will be ready for pick up. This software also tracks order history, and reward points for loyal customers. This gives the restaurant the ability to track and analyze their customer's behavior and provide targeted incentives. This software allows the restaurant to connect their ordering, in-store registers, smartphones, and PC's all together to better manage the data. I personally think this type of innovation is great. By using devices that most people use on a daily basis, it helps cut back on wait times and labor cost. It also provides the restaurant with better customer service, especially during fast-paced lunch or dinner rush.
Panpan Xie

Have You Seen Their eMenu's? - 1 views

  • Customers are also able to order directly from the digital menu, reducing waiters to little more than human FAQs. These tables
  • Let’s look at the top five reasons why the next menu you see for your favorite restaurant could be an iPad.
  •  
    Many restaurants have taken step to use improved POS software. A London restaurant use interactive touch tables with digital tablecloth and e-menus. This device has a lot of functions. Customers can order the food by themselves instead of waiting for the waiters. During the time of waiting for food, customers are allowed to see the food preparation. After finish the food, customers are also separate the check by themselves. Besides, ipads are also a popular pos system to attract customers. They have the similar function with digital table cloth. The author thinks that in the next five years, this e-menu trend will grow rapidly. And the author listed five reasons. First, customers can entice by interactive suggestions and well designed screen. Second, this system is easily to share with friends. Third, restaurants can sell more wine and beer because ipads' suggestions. Fourth, customers are more likely to order food in a well presented recipe. Fifth, entertainment function will give guests impressive experience.
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