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Income Statement oRevenue –Costs = Net Income oCosts should be broken down into Variable and Fixed Costs Variable Costs –associated with each item Fixed Costs –associated with overall production oNet Income –Taxes = Net Profit Taxes are also a cost EBIT –Earnings Before Interest & Taxes Worksheet Grouping –if you want to edit multiple worksheets of similar format at the same time oHold CTRL and click the sheet tabs of the sheets you want to group oTo ungroup, right click one of the sheet tabs and click Ungroup Sheets or click any sheet tab outside the group. 3D References oExcel worksheet has two dimensions (column and row). You can refer to a cell in a worksheet by using its column and row identifiers such as B11 (column B, row 11) oIf you have several worksheets in your Excel file, the worksheet (name) can be used as the third dimension –Imagine stacking one worksheet behind the other thus making a data cube oSingle Cell in Another Sheet: ‘Worksheet Name’!D6oSame Cell in Multiple Sheets: SUM(‘Quarter 1:Quarter 4’!E6)Lecture VIII –Information Quality & Collaborative Consumption Collaborative Consumption oCollaborative consumption and sharing economy are terms used to describe the appearance of new marketplaces where excess capacity in goods and services can be shared using information technology. oKey to making collaborative consumption work is “trust” and “efficiency”oInformation technology empowers individuals and organizations to share their excess inventory (or time) oNote that the premise for the success of all such marketplaces is good quality information o“…one thing is for certain –collaborative consumption is a disruptive trend, and one that will continue to shake things up this year. Trend watchers around the world are naming the movement as one of the top trends to watch this year, and we look forward to seeing how it is integrated into business strategy thinking by incumbent and new players alike.”oWe are seeing a classic “creative destruction” happening –destroy value to create new value. Look at the impact of ‘on-demand’ ridesharing platforms such as Lyft, Uber & Sidecar –two thirds of the ‘traditional’ taxi industry’s revenue has been lost in less than 3 years. oEconomists would call the underlying motive “Coincidence of Wants”o20thCentury Hyper-Consumption to 21stCentury Collaborative Consumption
Svac 10 Renewed belief in importance of community Removes the middleman, back to peer-to-peer Focus on working together, collaborators oThe phenomena has huge commercial implications oThis is creating an economy of “What is mine, is yours”Social Networking vs. Service Networking oSocial Networking Platform: a platform to build social networks or social relations among people who share interests, activities, backgrounds, or real-live connections oOnline Communities: service where the services provided are group-centered: sharing of ideas, pictures, events, etc. (Dropbox)