Mirror, Mirror …

Paraphrasing Confucius, reflection is the noblest way in which we ‘learn’ wisdom. So, in an attempt to become wiser (as well as a module requirement!) I will reflect on my experiences and learning.

Firstly, my expectations for the module were far exceeded- I wanted to learn more about the business models of the future (check!) but I did not expect to gain an insight into the challenges and opportunities present in the increasingly digital world we live in, nor did I expect to become so aware of these from an employment perspective. Reading the opinions of other module participants improved my own learning and helped me to think about concepts from different perspectives. I also didn’t realise how much I enjoyed blogging, another bonus!

I have outlined some of my favourite topics below.

The Fourth Revolution

Week 1 was all about the current industrial revolution- we learnt about the blurring boundaries of the physical, digital and biological spheres. We looked at opportunities and challenges and learnt about its characteristics- speed, scope and impacts.

Created by KR using Piktochart

In our formative blog posts we addressed careers which could be affected by the Fourth Industrial Revolution; examples ranged from accountants (Wenqian Yan) to taxi drivers (Sam Worth). I chose how the role of fashion buyers will change and how they must balance big data and customer needs.

Circular/ Sharing Economies

A further highlight was the circular and sharing economy, business models that I found really engaging due to my interest in sustainability. Below are responses to “what does the term circular economy mean to you?”

Catherine Papp & Felix Wilson
Katharine Ronaldson

The presentation below highlights the key differences between these two models and their importance (created by KR in Piktochart).

Our blog posts perfectly highlighted the new economies, particularly drawing on the online/offline aspect of businesses. I researched this trend in retail, using DemooJeans as an example of a retailer moving from a purely online presence to a physical one.

Emilie explored the digitalisation of banking and we discussed how popular apps ‘Cleo’ might be RBS’s next big move and she suggested that a similar concept could certainly be a future possibility.

I also responded to Jon, who discussed whether technology was killing the barman, (see screenshot of comment at the bottom of the page) suggesting that the older clientele who weren’t engaging with technology were limited by their own sense of social responsibility.

The final blog post was based on how an organisations digital business model could contribute to its success- as seen above, I chose to talk about subscription cosmetic service Birchbox. As a result of my post, I was involved in discussion with two fellow students, exploring the Birchbox marketing approach and its ‘next move.’

Following my foray into subscription services I engaged with Kazia’s post about Spotify, questioning the sustainability of its business model. I also explored Jake’s blog on OnePlus, (see the screenshot at the bottom of the page) suggesting that it limits it consumer reach through its lack of marketing.

I have throughly enjoyed the course. I have found the interaction with others stimulating and informative, as well as the fact that it gave me access to relevant and up-to-date information from my colleagues (which has also added a global dimension to the module!). Below is a 2 minute video reflecting on what I have learnt from reading and commenting on the work of other students and what I will take forward from this module.