Management News

The Game Changer

The next time you visit Disneyland in Orlando, you may notice folks wearing a wristband. It is not a fashion accessory; rather it is a technology innovation involving finance, operations, and logistics. The wristband operates as your mobile wallet to pay for your rides in the amusement park, thus more convenient than carrying cash and cards in a crowded place and risk being pickpocketed. It operates as your entry ticket, helping you avoid long queues; as your hotel room key if you are staying in one of the hotels in the park, ensuring you do not carry the physical key and risk losing it; and as a location finder for your children, in case they get lost in the crowd. Similar examples of innovation abound today, where technology is combining finance, operations, and marketing to provide a unique client experience, more convenience, and reduced waiting time, all at a lower cost. This helps businesses garner repeat visits and referrals in a hyper-competitive environment.. . . ... Page 8