Wednesday, February 28, 2007
Friday, February 23, 2007
Week 7
Finally, uploaded the video elevator pitch! Thank God! Yeah! So far, the feedback from friends about the pitch is not too bad...Anyway, it is the only the first day...still have to see response from other users whom we don't know.
This week lesson is about podcasting. I'm don't quite familiar with podcasting so, this time round have to write some lecture stuff to help me remember better. The term 'podcasting' is actually derived from Apple's Ipod illustrating the idea of audio broadcasting to a container or some sort. The value to the users is the provision of platform to broadcast at a cheap cost. This form of value has creates several application of the technology that cater not only for the consumers market but also to the business environment.
The introduction of podcasting has changed the consumer behaviour as broadcasting is not longer a dream to the normal commoner with help of internet. All you need is a microphone (which is really low cost)and a audio editing software(which is free!)to record the audio and upload to any podcasting website and you are done! In fact, there are some website that collate all the popular podcasting websites to make it easier for users to search for their desire podcasting website. For instance, Podcast Alley is one of a kind of podcast directory.
Erm...let's get to the real business application. Very obvious, podcasting technology has created new avenue for businesses to advertise their products and services. It can also be integrated to the organisation management to sort of increasing the efficiency of the organisation. Prof Lee mentioned in the lecture that the good thing about podcasting in an organisation is that staff can actually receive information through podcasting while they are doing their work at the same time. This helps to save time and also convey motivational messages effectively from the very top of the top management to the very bottom of the workforce. There is a video advertisment by Podcast Media Service that illustrates the values and application of Podcast. Perhaps you guys can take a look at it(haha! ignore the marketing gimmicks that the organisation use...look at how they explain Podcast).
Hmm...let's link Podcast back to the business plan that my team intend to propose to the tourism industry people. I have kept on emphasizing the market problem of language barrier in Singapore and I think the idea of getting personalised drivers to interact with the tourists who have specific language need is not going to cause any big disruption in the industry. Instead, we should include podcasting concept to our tourists who are the end-users of our service. This is because language communication is audio in nature! It will become another value-added services. So what i mean? Although our drivers can communicate with the visitors while on the road, within a specific location for instance, Singapore Zoo, vistors will be left alone to move around the Zoo without travel guide. The solution for this is to use digital audio like MP3 that provides information of the animals. This digital audio file can be transferred via USB port of our uDrive computer devices (that are installed at the back of the seat) to their Ipod or portable MP3 players before they even reach the designation.
This week lesson is about podcasting. I'm don't quite familiar with podcasting so, this time round have to write some lecture stuff to help me remember better. The term 'podcasting' is actually derived from Apple's Ipod illustrating the idea of audio broadcasting to a container or some sort. The value to the users is the provision of platform to broadcast at a cheap cost. This form of value has creates several application of the technology that cater not only for the consumers market but also to the business environment.
The introduction of podcasting has changed the consumer behaviour as broadcasting is not longer a dream to the normal commoner with help of internet. All you need is a microphone (which is really low cost)and a audio editing software(which is free!)to record the audio and upload to any podcasting website and you are done! In fact, there are some website that collate all the popular podcasting websites to make it easier for users to search for their desire podcasting website. For instance, Podcast Alley is one of a kind of podcast directory.
Erm...let's get to the real business application. Very obvious, podcasting technology has created new avenue for businesses to advertise their products and services. It can also be integrated to the organisation management to sort of increasing the efficiency of the organisation. Prof Lee mentioned in the lecture that the good thing about podcasting in an organisation is that staff can actually receive information through podcasting while they are doing their work at the same time. This helps to save time and also convey motivational messages effectively from the very top of the top management to the very bottom of the workforce. There is a video advertisment by Podcast Media Service that illustrates the values and application of Podcast. Perhaps you guys can take a look at it(haha! ignore the marketing gimmicks that the organisation use...look at how they explain Podcast).
Hmm...let's link Podcast back to the business plan that my team intend to propose to the tourism industry people. I have kept on emphasizing the market problem of language barrier in Singapore and I think the idea of getting personalised drivers to interact with the tourists who have specific language need is not going to cause any big disruption in the industry. Instead, we should include podcasting concept to our tourists who are the end-users of our service. This is because language communication is audio in nature! It will become another value-added services. So what i mean? Although our drivers can communicate with the visitors while on the road, within a specific location for instance, Singapore Zoo, vistors will be left alone to move around the Zoo without travel guide. The solution for this is to use digital audio like MP3 that provides information of the animals. This digital audio file can be transferred via USB port of our uDrive computer devices (that are installed at the back of the seat) to their Ipod or portable MP3 players before they even reach the designation.
Thursday, February 22, 2007
Week 6
Wish all of you a happy Chinese New Year. Yeah..Thank god. This week, there is no need to do any presentation preparation. Haha...However, we need to do one business case for the ASEAN Food Safety Initiative using wireless infrastructure. Hmm…initially, don’t feel any excitement on doing business case maybe because I have did once during Entrepreneurship minor. However, this time is slightly different.
What I did during minor was more like preparing another report that illustrated the business strategies and pin point all the mistakes made by the company (the business case I did for minor was Hour Glass Watch) which everything was already spelled out in the report given. However, what is given in BM362 is more analytical and requires more thinking processes in other do the reporting because you need to be sharp to pin point the possible problems in the organization. I think it is a better form of training as compared to Entrepreneurship minor perhaps I will feedback this to Nanyang Technopreneurship Centre (NTC) to adopt this teaching method to the subsequent batch of Entrepreneurship Minor students. At the same time, I learn that through business case studies, it will train me to be a sharper person.
Under the encouragement of Prof Lee, I took part in Citibank Business Case Competition organized by SMU. I joined KANIKA’s group for this competition. While it is a good experience...The last meeting was very intensive discussion in fact, right now I am doing business case discussion now. Haha...Oh... I have to say this…the team is very dynamic and motivated...Let’s do our best and give SMU a hard time.
P.S. Any master of his craft knows that it is not his oponent he is fighting. It is himself.
What I did during minor was more like preparing another report that illustrated the business strategies and pin point all the mistakes made by the company (the business case I did for minor was Hour Glass Watch) which everything was already spelled out in the report given. However, what is given in BM362 is more analytical and requires more thinking processes in other do the reporting because you need to be sharp to pin point the possible problems in the organization. I think it is a better form of training as compared to Entrepreneurship minor perhaps I will feedback this to Nanyang Technopreneurship Centre (NTC) to adopt this teaching method to the subsequent batch of Entrepreneurship Minor students. At the same time, I learn that through business case studies, it will train me to be a sharper person.
Under the encouragement of Prof Lee, I took part in Citibank Business Case Competition organized by SMU. I joined KANIKA’s group for this competition. While it is a good experience...The last meeting was very intensive discussion in fact, right now I am doing business case discussion now. Haha...Oh... I have to say this…the team is very dynamic and motivated...Let’s do our best and give SMU a hard time.
P.S. Any master of his craft knows that it is not his oponent he is fighting. It is himself.
Friday, February 9, 2007
Week 5
Time flies. It is already week 5! This week we are supposed to present our elevator pitch video. This is the first time I was doing a pitch in front of camera. During the entrepreneurship minor, I was asked to do an elevator pitch in front of the class. Well it turned out to be not-so-good. That's why I was trying to make a better one over the video.
For this video project, I have worked out all the necessary information that I think a potential investor wants to know because I was afraid that within the time limit, I might not be able to convey the idea well. To solve that problem, I got an outsider to actually watch the video without telling her in the first place what's the project is all about. To my surprise, she did manage to understand 60%-70% of what our idea is all about. After the presentation, the general comment is to improve the overall design of the video and working on the value preposition and the revenue model which we did mention but didn't convey it clearly over the pitch.
For this week presentation, 3 groups presented their videos. The video presented are rather interesting but to be very frank, I think the business ideas presented by other groups were not really special. I mean I can't find any differential point from the services they provide. There is already a lot of Electronic travel guide in the Internet market. For example, the Florida's travel website: http://www.visitflorida.com/experience/podcasts/# which not only provide necessary tourism information but also makes use of current technology such as podcast to help to convey message to their potential clients. From my point of view, the tourism industry is already highly competitive. In order to snatch a share of the market, it is necessary to differentiate ourselves from the rest. Do something different and make it as our core competency. From my personal view, I think all the groups are good in integrating technology and hospitality services but lack of business innovation to market the product or service. I believe ther is a key thing we need to look into if we really want to design a good product that caters for everyone's need.
Back to the lecture proper! Well, I really appreciate that the emerging of e-commerce and m-commerce has indeed improved our standard of living. However, the question about 'Freedom' in the society is still bothering me. Yes, I agree that users can provide the contents over the web shows that people are generally freely to convey the message they want to express. Interactivity in e-commerce and m-commerce does mean that people will have more choice and freedom over the things they want to do. However at the same time, with the technology infracturture, it is also not hard to trace anybody in any part of the world and it is highly possible now to detect the actions too as long he/she is carrying a mobile device. Your privacy can be intruded with the available technology. This is subjective and perhaps I should link back this to the earlier part of the lecture proper. Technology is able to create new behaviour among the human races and laggers will be left behind if they cannot adopte to the change in technology. From my own perspective, instead of asking should human begins accept the lost of privacy, why not ask yourself whether are you ready to change to a new habit?
For this video project, I have worked out all the necessary information that I think a potential investor wants to know because I was afraid that within the time limit, I might not be able to convey the idea well. To solve that problem, I got an outsider to actually watch the video without telling her in the first place what's the project is all about. To my surprise, she did manage to understand 60%-70% of what our idea is all about. After the presentation, the general comment is to improve the overall design of the video and working on the value preposition and the revenue model which we did mention but didn't convey it clearly over the pitch.
For this week presentation, 3 groups presented their videos. The video presented are rather interesting but to be very frank, I think the business ideas presented by other groups were not really special. I mean I can't find any differential point from the services they provide. There is already a lot of Electronic travel guide in the Internet market. For example, the Florida's travel website: http://www.visitflorida.com/experience/podcasts/# which not only provide necessary tourism information but also makes use of current technology such as podcast to help to convey message to their potential clients. From my point of view, the tourism industry is already highly competitive. In order to snatch a share of the market, it is necessary to differentiate ourselves from the rest. Do something different and make it as our core competency. From my personal view, I think all the groups are good in integrating technology and hospitality services but lack of business innovation to market the product or service. I believe ther is a key thing we need to look into if we really want to design a good product that caters for everyone's need.
Back to the lecture proper! Well, I really appreciate that the emerging of e-commerce and m-commerce has indeed improved our standard of living. However, the question about 'Freedom' in the society is still bothering me. Yes, I agree that users can provide the contents over the web shows that people are generally freely to convey the message they want to express. Interactivity in e-commerce and m-commerce does mean that people will have more choice and freedom over the things they want to do. However at the same time, with the technology infracturture, it is also not hard to trace anybody in any part of the world and it is highly possible now to detect the actions too as long he/she is carrying a mobile device. Your privacy can be intruded with the available technology. This is subjective and perhaps I should link back this to the earlier part of the lecture proper. Technology is able to create new behaviour among the human races and laggers will be left behind if they cannot adopte to the change in technology. From my own perspective, instead of asking should human begins accept the lost of privacy, why not ask yourself whether are you ready to change to a new habit?
Thursday, February 8, 2007
Week 4
Week 4 is cool! We had our presentation on the Jurong Bird Park and the move of using toy as the wireless device has received a very positive feedback! Thanks Tian Yi for proposing of such idea! On the other hand, other teams also had presented very innovative ideas. The use of radio for audio messages and the idea of electronic travel guide are very interesting business opportunities. At the same time, the discussion of these business ideas has stimulated my thoughts more for the current business idea that I mentioned last week in my blog.
Coincidentally, this week seminar focuses more on the business model. Thank God! This is something I should be good at as an Economic-Major student! Haha! However, this week seminar brought us even deeper into the value chain of the hospitality industry. What I am very glad of is that our toy that is used for the Bird Park Project seems to be the only viable product that can create value to the users at the retirement stage out of all the other teams which used better and more advanced technology.
This reminds me on the disruptive technology that was taught in the 1st lecture. There is no need to invent revolutionary technology in other to be an entrepreneur. What’s more important is how to improve and use the existing technology to create an entirely new experience to the users. Commercial value is always the key for the market! Technology alone is not enough. Business model is necessary to finance the organization operation.
Last week, my business idea was very brief and doesn’t really look deeply into the whole value chain of the industry. Week 4 helped me to think in a much more strategic manner as I have exposed many innovative business ideas from other teams. I have to say this…Although seminar size is very small; all teams’ ideas are uniquely different from one another. This made the whole learning experience so interactive. From others’ business plans, I can identify each individual team’s strength and weakness and further improve on my own business idea.
Continue from last week business idea, I decided to look into very specific market segments. Language barrier is seriously a problem in Singapore tourism industry especially for Korean and Chinese tourists which account for a huge percentage of our tourism market. We can work along this problem and come out with personalized language services on our mobile devices. At the moment, I have already told the team to start designing the product. So, audience! Stand-by for more information!!! Yo!
Coincidentally, this week seminar focuses more on the business model. Thank God! This is something I should be good at as an Economic-Major student! Haha! However, this week seminar brought us even deeper into the value chain of the hospitality industry. What I am very glad of is that our toy that is used for the Bird Park Project seems to be the only viable product that can create value to the users at the retirement stage out of all the other teams which used better and more advanced technology.
This reminds me on the disruptive technology that was taught in the 1st lecture. There is no need to invent revolutionary technology in other to be an entrepreneur. What’s more important is how to improve and use the existing technology to create an entirely new experience to the users. Commercial value is always the key for the market! Technology alone is not enough. Business model is necessary to finance the organization operation.
Last week, my business idea was very brief and doesn’t really look deeply into the whole value chain of the industry. Week 4 helped me to think in a much more strategic manner as I have exposed many innovative business ideas from other teams. I have to say this…Although seminar size is very small; all teams’ ideas are uniquely different from one another. This made the whole learning experience so interactive. From others’ business plans, I can identify each individual team’s strength and weakness and further improve on my own business idea.
Continue from last week business idea, I decided to look into very specific market segments. Language barrier is seriously a problem in Singapore tourism industry especially for Korean and Chinese tourists which account for a huge percentage of our tourism market. We can work along this problem and come out with personalized language services on our mobile devices. At the moment, I have already told the team to start designing the product. So, audience! Stand-by for more information!!! Yo!
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