Podcast is considered a new technology( I only heard of podcast after I registered for MB362 =p) introduced in 2004 that has a great potential to be developed. Podcast is radio show format with short duration of 2 or 3 minutes. Podcast use the web2.0 paradigm where everyone can contribute.
What makes podcast desireable?
1. Like radio, you can listen to it while doing something else. Podcast contents can be news, documentary, sports.
2. It is time shifted component. It can be downloaded from the internet, and can be listened at convenient time.
3. Narrowcasted audience (the long tail). Not every show has many audience but collectively can make up a market.
4. Detachable from computer. Can be listened without computer, can be downloaded into other devices such as PSP, MP3 player.
5. Alternative and unregulated content.
Podcast -> potential business to be developed
Today many businesses are podcasting including General motors, The Walt Disney Company.
Podcasting can be used to give motivation, lectures, instructions to the employers. It's useful because the motivation the employee give at a particular time may not needed by every employer at that time. So the employer can listen to the motivation record at his convenient time.
Besides for internal use in a company podcasting also can be used to generate revenue. The podcasting company can charge fee per view or by subscription or can use ads. Since podcast is narrowcasted, the sponsor also has to be choosy on the show they wanted to sponsor. Such as a company that sell baby product won't sponsor a cricket match. A cricket match is mostly watch by youngster so the sponsor could be beer company.
Podcast could be used to cast presentation of a product to prospective buyer. Other usage in business is to present a solution of a problem or present a new project to the manager of company.
Monday, February 26, 2007
Friday, February 16, 2007
Week 6: Case Analysis
This week the prof lead the discussion about case study. Why do we need case study in management? Why not just study the textbook? The reason is that the theory in text book is only theory, may not always be true. Unlike mathematics, 1+1 always equal 2, in management, the step taken to prevent a problem may not always have the same outcome, sometimes may be good outcome, other time may turn out bad. Case study is research strategy that will generate hypothesis. There are 3 methodology in doing case study:
1. exploratory -> fieldwork, and data collection may be undertaken prior to definition of the research questions and hypotheses. This type of study has been considered as a prelude to some social research. However, the framework of the study must be created ahead of time. Pilot projects are very useful in determining the final protocols that will be used. Survey questions may be dropped or added based on the outcome of the pilot study. Selecting cases is a difficult process, but the literature provides guidance in this area. It is recommended that the selection offers the opportunity to maximize what can be learned, knowing that time is limited. Hence the cases that are selected should be easy and willing subjects. A good instrumental case does not have to defend its typicality.
2. explanatory ->In very complex and multivariate cases, the analysis can make use of pattern-matching techniques. A study is conducted to examine the reason why some research findings get into practical use. Funded research project is used as the unit of analysis, where the topic was constant but the project varied. The utilization outcomes were explained by three rival theories: a knowledge-driven theory, a problem-solving theory, and a social-interaction theory.
3. descriptive ->Descriptive cases require that the investigator begin with a descriptive theory, or face the possibility that problems will occur during the project. This methodology is used to study special education, using a pattern-matching procedure. Several states were studied and the data about each state's activities were compared to another, with idealized theoretic patterns. Thus what is implied in this type of study is the formation of hypotheses of cause-effect relationships. Hence the descriptive theory must cover the depth and scope of the case under study. The selection of cases and the unit of analysis is developed in the same manner as the other types of case studies.
There are several different approaches in case study:
1. value chain or process flow analysis
2. value system analysis
3. competitive analysis
4. market analysis
5. policy analysis
6. financial analysis
7. organizational analysis
Each method will generate different hypothesis. e.g. value chain analysis definitely will generate hypothesis related to value chain
Better value chain will give better bargaining power in buying from suppliers and selling to buyers. If the product has high quality, it can be sold to buyers at higher price. If the company have a big order to the supplier they can get the supply at lower price.
In competitive strategy approach. The actions taken by the competitors will determine our actions. A same product of competitor will make the buyers have other alternatives hence the selling power is smaller
1. exploratory -> fieldwork, and data collection may be undertaken prior to definition of the research questions and hypotheses. This type of study has been considered as a prelude to some social research. However, the framework of the study must be created ahead of time. Pilot projects are very useful in determining the final protocols that will be used. Survey questions may be dropped or added based on the outcome of the pilot study. Selecting cases is a difficult process, but the literature provides guidance in this area. It is recommended that the selection offers the opportunity to maximize what can be learned, knowing that time is limited. Hence the cases that are selected should be easy and willing subjects. A good instrumental case does not have to defend its typicality.
2. explanatory ->In very complex and multivariate cases, the analysis can make use of pattern-matching techniques. A study is conducted to examine the reason why some research findings get into practical use. Funded research project is used as the unit of analysis, where the topic was constant but the project varied. The utilization outcomes were explained by three rival theories: a knowledge-driven theory, a problem-solving theory, and a social-interaction theory.
3. descriptive ->Descriptive cases require that the investigator begin with a descriptive theory, or face the possibility that problems will occur during the project. This methodology is used to study special education, using a pattern-matching procedure. Several states were studied and the data about each state's activities were compared to another, with idealized theoretic patterns. Thus what is implied in this type of study is the formation of hypotheses of cause-effect relationships. Hence the descriptive theory must cover the depth and scope of the case under study. The selection of cases and the unit of analysis is developed in the same manner as the other types of case studies.
There are several different approaches in case study:
1. value chain or process flow analysis
2. value system analysis
3. competitive analysis
4. market analysis
5. policy analysis
6. financial analysis
7. organizational analysis
Each method will generate different hypothesis. e.g. value chain analysis definitely will generate hypothesis related to value chain
Better value chain will give better bargaining power in buying from suppliers and selling to buyers. If the product has high quality, it can be sold to buyers at higher price. If the company have a big order to the supplier they can get the supply at lower price.
In competitive strategy approach. The actions taken by the competitors will determine our actions. A same product of competitor will make the buyers have other alternatives hence the selling power is smaller
Friday, February 9, 2007
Week 5: Do we need new rules?standards?
larger image
What can you see on the images besides. hmm...it's a simple rule governing the internet connection. Why do we need rules?rules provide structure. Without rule, route A wouldn't have known it had to transfer data to route C. The more advanced the technology the more complex the rule.There have been many laws that govern the internet. e.g. the law that regulate internet in India.
Every place has its own law which is slightly different but with same purpose i.e. to keep everything in order. The law has to be amended because the things it govern is changing. Especially in the cyber world which grow intensively in the last 2 decades, need new standards and new rule governing the use of internet. Because of the development, now there is new term "cyber crime" which is crime in the cyber world. e.g. somebody called hacker enter into somebody else system and manipulate things in their databases. Before there was no law that specifically states hacker is a crime, so the law has to be amended. Other form of crime is the piracy of songs, movie. Nowadays people can easily download songs, movies from the internet without paying the royalty to the record company. Then new law emerge to govern the piracy.
e.g. rules that emerge due to advancement in technology click here
Besides new law, new standard is needed too for the digital convergence. Previously the language used in different platform has different standard. But now there is digital convergence, in order to be compatible in every platform, new standards have to be established. e.g. in HTML forget to close the tag is no problem but in XHTML (Combination of HTML and XML which in future people will use this language rather than HTML) an error will occur. This more restricted XHTML is compatible in more user interface than HTML.
In conclusion
e.g. rules that emerge due to advancement in technology click here
Besides new law, new standard is needed too for the digital convergence. Previously the language used in different platform has different standard. But now there is digital convergence, in order to be compatible in every platform, new standards have to be established. e.g. in HTML forget to close the tag is no problem but in XHTML (Combination of HTML and XML which in future people will use this language rather than HTML) an error will occur. This more restricted XHTML is compatible in more user interface than HTML.
In conclusion
- Standards shape technology
- technology alter the economy and enable new behaviour
- behaviour become norm
- norm become laws
Friday, February 2, 2007
Week 4: Business Model
This week MB362 has assignment about the problem faced by Jurong Bird Park. And we are told to present our proposed solution. The problem faced by Jurong Bird Park is non-English speaking visitor can not enjoy the show and the information in the signage is not enough to describe particular bird. There are many interesting ideas from the presentation of other group. My group's idea is to use sms and phone call, it looks a bit out of date but everyone can use it. =p
Other group also have idea not quite different. Some have the idea to use bluetooth which is a terrific idea. At the end of all our presentation, the Prof discuss the problem with us. In the discussion the Prof pointed some problem with our idea such as is everybody know how to use bluetooth? how about our mother? The Prof also mentioned the use of java application to make it more interesting by having a game with the visitor and also it is possible for market segmentation. JBP can have a different price for the customer. More expensive for visitors who wants better service or faster connection.
Then we move on to the next topic which is the "Business Model". Actually business model concept is a new concept but now is very popular concept and is very important for the business world. The function of the business model :
1. to articulate value proposition
2. to identify market segment
3. to define the structure of the firm's value chain
4. to specific revenue generation mechanism
5. to describe the position of the firm in the value network
6. to formulate the company competitive advantage strategy.
For a company to profit, it has to gain competitive advantage. Not only gaining competitive advantage but also have to sustain it, in order to gain more profit in the long run. A product must offer value proposition. What is value proposition? the benefit we get from the product. Simple example as an undergraduate student, the value proposition is the credential, knowledge, skill and networking. Identify market segmentation is crucial to serve our customer better. Last semester I learnt that for a new emerging company, is best to serve the market segment that is not well covered by other company. Like what Starhub did when they enter the telcom service provider. Their market segment is the people who want a cheaper service provider.
Business model have many elements:
1. customer value
2. scope
4. source of revenue
5. connected activities
6. capabilities
7. implementation
8. sustainability
Each of the elements is very important. The shift in on component can change the respond of the customer. e.g. pricing: if your product pricing is depends on how much is the usage, people is more reluctant to use your product since there is uncertainty. People do not like uncertainty.
Source of revenue is also an important factor. From where your company will get the revenue, the revenue may not necessary the money paid by customer like in Amazon. The buyer pay for the book before the shipping. But Amazon only pay the supplier much later. The money they get will be invested for a short period and they get their revenue from short term investment.
Other group also have idea not quite different. Some have the idea to use bluetooth which is a terrific idea. At the end of all our presentation, the Prof discuss the problem with us. In the discussion the Prof pointed some problem with our idea such as is everybody know how to use bluetooth? how about our mother? The Prof also mentioned the use of java application to make it more interesting by having a game with the visitor and also it is possible for market segmentation. JBP can have a different price for the customer. More expensive for visitors who wants better service or faster connection.
Then we move on to the next topic which is the "Business Model". Actually business model concept is a new concept but now is very popular concept and is very important for the business world. The function of the business model :
1. to articulate value proposition
2. to identify market segment
3. to define the structure of the firm's value chain
4. to specific revenue generation mechanism
5. to describe the position of the firm in the value network
6. to formulate the company competitive advantage strategy.
For a company to profit, it has to gain competitive advantage. Not only gaining competitive advantage but also have to sustain it, in order to gain more profit in the long run. A product must offer value proposition. What is value proposition? the benefit we get from the product. Simple example as an undergraduate student, the value proposition is the credential, knowledge, skill and networking. Identify market segmentation is crucial to serve our customer better. Last semester I learnt that for a new emerging company, is best to serve the market segment that is not well covered by other company. Like what Starhub did when they enter the telcom service provider. Their market segment is the people who want a cheaper service provider.
Business model have many elements:
1. customer value
2. scope
s
3. pricing4. source of revenue
5. connected activities
6. capabilities
7. implementation
8. sustainability
Each of the elements is very important. The shift in on component can change the respond of the customer. e.g. pricing: if your product pricing is depends on how much is the usage, people is more reluctant to use your product since there is uncertainty. People do not like uncertainty.
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