Y2K and You
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The document discusses the implications of the Year 2000 (Y2K) issue for individuals and businesses. It describes how Y2K caused increased IT spending as companies worked to become compliant. It also discusses fears around potential problems on January 1, 2000 and recession, as well as opportunities for new businesses, jobs, and career changes. The document provides advice on personal, business, and career preparedness strategies related to Y2K.
![Y2K is a good excuse to allocate IT dollars “… utilities also are spending slightly more - 2.6% of annual revenue - on IT than their counterparts in other industries, whose IT spending averages 2.4% of revenue.” “ I see no lack of appetite to spend money, but utilities say if they’re going to spend $100 million [on IT], they want to do it in $5 million and $10 million , bite-size chunks,” says Chris Alford, American Management Systems Inc.. vice president. http://www.computerworld.com From COMPUTERWORLD (Nov. 30, 1998)](https://image.slidesharecdn.com/bdpay2k-091123075820-phpapp02/85/Y2K-and-You-6-320.jpg)
![Y2K and You R. Wayne Hicks, President BDPA Cincinnati Chapter Email: [email_address]](https://image.slidesharecdn.com/bdpay2k-091123075820-phpapp02/85/Y2K-and-You-27-320.jpg)
Y2K and You
- 1. Year 2000 and You Implications of Y2K for Our Community
- 2. Year 2000 - What it means to you A catalyst for change… A reason for fear and panic… A time for career planning… A time for business continuity planning…
- 3. Y2K - A catalyst for change Y2K-Caused IT Spending Slump Myth - Forecast, October 28, 1998 “ IntelliQuest says that while Year 2000 or Y2K, date issues are consuming significant financial resources across corporate America, most companies still expect to spend more money, not less, for technology products over the next two years.” http://www.cnnfn.com/digitaljam/newsbytes/ Cable News Network
- 4. …and prosperity IntelliQuest’s “Tech Marketplace 2000” “… some computer related hardware vendors will even see bonus orders over the coming year, as corporations and government agencies solve their Y2K problems by accelerating replacements rather than trying to patch existing IT equipment.” http://www.intelliquest.com Cable News Network
- 5. Y2K means: New businesses, New jobs
- 6. Y2K is a good excuse to allocate IT dollars “… utilities also are spending slightly more - 2.6% of annual revenue - on IT than their counterparts in other industries, whose IT spending averages 2.4% of revenue.” “ I see no lack of appetite to spend money, but utilities say if they’re going to spend $100 million [on IT], they want to do it in $5 million and $10 million , bite-size chunks,” says Chris Alford, American Management Systems Inc.. vice president. http://www.computerworld.com From COMPUTERWORLD (Nov. 30, 1998)
- 7. Y2K - A reason for fear and panic A Y2K recession? “ When will the economy suffer its next recession? There is a vocal, albeit small, group of economists and other analysts arguing that the answer is the year 2000.” http://www.y2kinformant.com
- 8. …fear and panic The Y2K problem has indeed prompted significant hand wringing among businessmen, policymakers and some economists. Federal Reserve Board Governor Kelley estimates that based on filings with the SEC, Fortune 500 companies will spend $11 billion on Y2K remedial efforts. The Fed further estimates that the total economy-wide cost of Y2K efforts will be at least $50 billion. From Y2K Informant 11/8/98
- 9. …with global implications … is less than 50 days away. At midnight, Jan. 1. 2000, a programming flaw will cause millions of computers to fail around the world. The year 2000 computer bug, abbreviated “y2k” threatens to disrupt commerce from Pueblo to Peonage Yang, and even optimistic economists say a global recession… ...The United States Government and industry must play a stronger role to ensure that their foreign counterparts are effectively addressing the Y2K computer problem,” Rep. Constance Morella, R-Md.., chair, House Year 2000 Task Force.
- 10. …that could effect you … in the flow of goods or the flow or orders, you’ll have problems,”said Don Meyer, a spokesman for the Senate’s special committee on the year 2000. “You’ll have businesses that slow down, and then you’re looking at people being furloughed. That’s the worst case scenario.” … In his book “Year 2000 Recession”, Ed Yardeni, one of Wall Street’s most bullish forecasters, warns that a y2k downturn could be at least as severe as the global recession the OPEC oil crisis triggered in 1973 and 1974... Http://www.tbwt.com
- 11. Y2K is a good excuse to get ready On a personal and professional level Can be a business opportunity Make sure your business can continue to function Make sure your skills are transferable and marketable beyond Y2K
- 12. As Y2K approaches, don’t panic - just take time to get prepared They may not know any more than you do about what is actually going to happen on Jan. 1, 2000. They do however, have a plan. From Desert News, Salt Lake City, Utah 3/6/99
- 13. Personal Readiness Food, Water and Electricity City, County and State emergency management centers
- 14. Personal Safety and Security Store food and water just in case. Have flashlights, candles or even an electric generator!
- 15. City, County and State Preparedness Utility Companies Emergency Management Centers Hospitals Public Safety Transportation
- 16. Personal Readiness Personal Computing and Communications Personal Banking and Finances
- 17. Personal Computing Home Churches Schools Clubs and Social Organizations
- 18. Personal Banking and Finances Check cashing and credit cards Stocks and money market funds Retirement Funds and Social Security
- 19. Business Opportunities Replacing and correcting hardware and software Providing Backup and Recovery Services Programming and Software Conversion New system Installations
- 20. Entrepreneur Unveils ‘11th Hour’ Y2K Fix “ StepWare 2000” Chinese engineer Decao Mao and American businessman Richard Decker devised a revolutionary solution to the Y2K computer crisis. “This unique tool can fix domestic and worldwide Y2K computer problems, in a fraction of the time, fraction of the cost, and none of the risk associated with anything else in existence” says Decker, Vice President of StepWise Solutions. Http://www.tbwt.com From the Black World Today
- 21. Business Contingency The contingency planning process begins with exhaustive review of all the things that might possibly go wrong - not just with application programs, but also with the business infrastructure and interfaces with outside entities. William Ulrich, president of Tactical Strategy Group, Inc.., of Soquel,California, says contingency planning is “like putting fire extinguishers in the kitchen.” You can tell you’ve done it well, he adds, when you’ve adequately gone through each critical business area - from the top down- and covered each of the key functional segments of that business area from a business continuity perspective. From Intelligence Magazine Vol.. 2, No.4
- 22. Business Continuity Y2K business continuity planning anticipates multiple failures: An example would be a critical information system failing at the same time as a production furnace, and at the same time as deliveries are delayed due to disruptions in the rail network. Finally, 1999 and, in particular, the century boundary period will not be "business as usual." Enterprises need to develop integrated business, operational and IT plans for this period. From GartnerGroup, Symposium Jan, 1999
- 23. Career Planning and Professional Development Value in IT: Staffing Issues for 1999 It’s hard to find staff with useful knowledge of multiple IT disciplines; most people working in IT today are interested in one or two “hot” technologies (usually programming tools or languages) rather than an integrative view of IT, the IS organization and the supported organization. This phenomenon should begin to fade within the next 12 months as more hot technologies become commoditized and more integrated through improvements in programming. Frankly, as soon as the technology improves enough to require less special skills (e.g., HTML programming from 1994 to 1996), these hot technologists are out of jobs. From GartnerGroup 12/21/88
- 24. Career Planning and Professional Development Most Difficult IT Positions to Fill: Network manager, network administrator, network integrator Web administrator UNIX Expert Project Manager Packaged Software Expert (e.g., SAP, Peoplesoft) NT Administrator “ Legacy” Expert (e.g.,Cobol) Data Manager Hot technologists need to begin broadening their focus; demand will increase the rewards and make broader positions more and more attractive
- 25. Useful Web Sites UC Help Desk http://helpdesk.uc.edu/year2000/ RCC/City Site http://www.rcc.org/y2k/ State of Ohio http://www.oy2k.state.oh.us/
- 26. Professional Development/Employment Web Sites BDPA http://www.bdpa-cincy.org/ University of Cincinnati http://www.uc.edu/ NetNoir http://www.netnoir.com/
- 27. Y2K and You R. Wayne Hicks, President BDPA Cincinnati Chapter Email: [email_address]
Editor's Notes
- #2: Good Evening. I’m sure all of you here know what the Year 2000 problem is so I’m not going to insult you with definitions and explanations. OK? How many of you are technical professionals (analysts, programmers, network administrators, etc..)? How many are entrepreneurs (independent consultants, business owners)? I am going to talk this evening about how the Y2K phenomenon may affect you - opportunities and challenges.
- #4: It has been a myth that the Y2K problem has caused corporations to stop spending on IT other than expenditures for fixing the problem. Most expect to spend more not less over the next two years.
- #5: There’s been some market analysis done by Intelliquest, an IT industry research group that indicates the Year 2000 may even be a bonus period for some hardware vendors.
- #6: So the Y2K may mean new opportunities for some.
- #7: In certain industries, spending is modest or flat. The utilities industry is spending slightly more but not necessarily on Y2K projects. They are willing to spend in bitesize chunks for IT projects that move the enterprise forward.
- #8: Some predict that a recession is on the horizon.
- #9: Spending on this problem has been huge and once the crises has passed, there could be a downturn in the economy due to spending that has not contributed toward corporate strategies for growth and expansion.
- #10: And this recession could global.
- #11: Some suggest that some businesses could be brought to a halt, at least temporarily. Others, liken it to the recession of the early seventies that was caused by the so called “oil crisis”.
- #12: In light of the opportunities and challenges of the Y2K problem, it is wise to look at this period as a time for preparation. It’s a good excuse to get ready.
- #13: Have a plan!
- #14: Just in case. Be prepared for trouble and make sure your basic needs for food and shelter are addressed. Check into the readiness of your community in the event of a failure in transportation, communications or public safety.
- #15: A few simple reminders...
- #16: As citizens, you have the right to expect your civic leaders to be as prepared as possible.
- #17: You also need to tend to your own hardware and software and make sure that you can function on a personal level when the year 2000 arrives.
- #18: As IT leaders in your community, don’t forget your churches, schools and other support organizations.
- #19: And of course, make sure you can get to your money. Or at least, have a backup plan.
- #20: For the entrepreneurs, there are many business opportunities remaining. You can help small businesses and non-profits prepare or protect themselves from the potential effects of this crisis.
- #21: Some new products and innovations are still being developed and released. This one, highlighted on the Black World Today’s web site, was released just this month.
- #22: But for the things you can’t fix or predict, it is wise to have a contingency plan.
- #23: In planning for business continuity, you really need to anticipate several things going wrong at the same time.
- #24: Another important element of Y2K as a catalyst is the transition that is occurring in the job market, triggered by the frenzy of hiring and job shifting taking place for IT professionals. Businesses may become more selective in their hiring practices after the year 2000 crisis is behind them.
- #25: Currently there are several areas where employers are struggling to find people. However, will that continue to be the case. My message to you is whether you are a technician, a business owner, a consultant or whatever, the Y2K problem affects you. Be it a change agent, a temporary business spurt, a launching of a new business or service or a new career - you need to be ready. It’s a good excuse for action.
- #26: In closing, I would like to leave you with a few more sites that may provide useful information or just confirm readiness of some entities that you depend on.
- #27: And for additional information of professional development opportunities, consider these sites.
- #28: Thank you. Are there any questions?