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?