Session 6

Brief overview

Today’s lesson introduced Bio Business as a massive commercial activity that contributes to 25% of global GDP, and it is growing even bigger in the sectors like agriculture, healthcare, food and bio-technology.  We are also introduced to several key bio-business opportunities that will revolutionize the bio-business landscape, the way we live and interact with one and other. These opportunities are 1) Biomedical Bio Business, 2) Agri-Veterinary and Food Bio Business, 3) Environmental and Industrial Bio Business, 4) Life Sciences and Bio IT.

Innovations in the life sciences and biotech is growing rapidly because of our changing needs and developing technology that complements those needs. We then zoomed into the healthcare and biomedical sciences sector and discussed the key drivers.

As Singapore is faced with the problem of aging population and people are getting more affluent, it presents an opportunity where top quality healthcare services and wellness products will be much sought after. We should catch on the bandwagon of the healthcare revolution as more people are looking to maximise their well-being, finding complementary therapies and open to nutraceutical products etc.
Interesting observations:

1) It is interesting to note that BioBusiness does not solely represent the business of healthcare and medical technology, it also encompasses other commercial activities such as agriculture, food and R&D; anything that has to do with life sciences and its technology . In the chart presented in class, Global BioBusiness Market Size, different region of the world gained more on certain sectors compared to other sectors. For example, South and East Asia gained more in Agriculture (considering most of the countries depend on the agriculture sector for sustenance + profit), while USA reaped the most from Healthcare (US is the biggest spender on healthcare). Estimated global GDP in 2001 for BioBusiness is estimated at US$ 32,239.0 Billion, and I believe this figure has been climbing since then.

There are unlimited summit opportunities in the field of biobusiness, but we only focused on the biomedical and healthcare arena in this session.

We watched a cool video presented by Microsoft, about its vision of healthcare in the future. Some of the technological ideas include: speaking to healthcare practitioner on broadband (Tele-consultation), automatic monitor of body condition, e-wallet, reminder to take medication etc. In my opinion, some of the ideas can already be developed into reality given today’s technology, and I don’t think it will take long for other technologies to catch on and reshape the medical industry and how we perceive healthcare. What I find extremely interesting is the ability to tele-consult with a doctor because it saves alot of traveling and waiting time and will be more cost efficient. Number of patients to one doctor can increase, reducing the impact of shortage of health practitioner, at the same time, people living in the rural area can also have access to healthcare via this method.

2) Some key drivers of change in healthcare includes: Demographic and epidemiological change, translating R&D to real application, advances in IT and Bio-engineering tech, Changing consumer needs and demands. As people in developed countries are getting more affluent, they are less susceptible to communicable disease, however as their lifestyle is also more sedentary, there’s an increase of Chronic illnesses, such as heart and cerebrovascular  diseases.

The topic of obesity was discussed today and it is alarming to know that Obesity has become a major problem in the world. Doctors have often attributed this trend to unhealthy eating habits (fast food), and less time on physical activities. For example, China has the fastest growing overweight population with 25% of its population overweight, it is due to China’s 1 child-policy where children are more spoilt in all aspects, including their dietary choices.
Key takeaways: 

1) People from the more developed countries are moving from disease management to wellness management, and are embracing the notion that prevention is better then cure. This is a major opportunity for growth in the healthcare sector. Also, as research and development of medical technology advances (like stem-cell and tissue engineering, prosthetic and bionics, etc.) it will benefit and change the lives of so many people, as well as make lucrative profits for the bio-industry. The possibilities are endless. However, the rising cost of healthcare is an issue that has to be noted, because it would be unfair to only reserve good healthcare technology for the wealthy and neglect the rest. Hence development in health should take into account the provision of highest level of care at the lowest possible cost.

2) In the presentation by Rebekah, she posed a question that as future parents, would we want to find out about our babies’ disposition to certain illness, and had a stand that if parents knew, they can limit the potential of the child. I feel that it is our right to find out how to better care for our children should we know about certain disposition of illness, and at the same time, we should exercise freedom for our children to explore their (physical) talents but with extra caution. I think the most, just nurture other talents? Like painting or playing an instrument? However she has given  us a good perspective of the ethical implication that gene-mapping/sequencing can bring.

Ratings:
I would give the class a rating of 7.5/10 .

TWC Session 5

Brief Overview/Summary

Technology has been extending the human-being’s capabilities and re-writing the concepts of who we are and what we have. An important and crucial technological development would be the development of Information Communication Technology, because it brings people all over the world closer, and resulted in us being more inter-connected than ever. ICT brought about a highly inter-connected world and individuals can thus harness this relationship to make collective decisions that can make the world a better place. Have we used enough of today’s technology to help build a better world? After today’s lesson, I learned that it is apparently not. Digital divide is still apparent, and people in developing countries need to have equal access to digital information to change their lives.

Interesting Observation and Ideas

In the lesson, several key ICTs were discussed, namely, the Mass Media, Internet, Social Network, Gaming, Wireless Technology etc. The internet has perpetuated many important changes of the world and has led to the revolution of how we communicate and perceive information. Gone were the days where information were only transmitted via a few selected channels. Instead of one-to-many, the social media revolution has allowed many-to-many conversations and diverse ideas to be communicated all around the world at incredible speed. The lesson today also covered the amazing would-be capabilities of Web 3.0, which will simplify our lives so much more, making daily living more efficient. On top of our smart phones, in the future, there will be smart homes and smart appliances, technology will literally be part of us, which is kind of cool. However as we get more connected we are also exposing ourselves to the lack of privacy. This is not so cool.

Secondly, the ‘digital divide’ is being highlighted in class today. It refers to the inequality between groups/countries in terms of the access to ICT. ICT is a powerful tool to change lives, eradicate poverty and help elevate the position of developing nations in this knowledge-based economy. Without quality access to information on the web, the gap becomes larger as the rest of the developed world progresses leaving those without relevant knowledge behind. I am surprised to note that ICT has a huge role to play in changing the lives of many.

Key Takeaway Points

ICT has become so powerful in a span of a few decades that many things achieved were considered unimaginable in the past. Take the internet for example; previously, communication were relied on traditional medium, now Internet opened doors to so many forms of interaction and spreading of information. This high-speed sharing of information is rapidly changing the world, the economy and our values. The human needs are getting more sophisticated and we are no longer satisfied with what we have, constantly looking for innovation that will make our lives easier.

For Session Two, I wrote this in Issues for Further Discussion: “I was hoping for the lesson to cover more about how technology can be harnessed to enable a more well-balanced world not just growth of countries in economic power, but also growth in spirituality (not religion) and humanity (awareness of the plight of the world). These issues deserve more air-time for discussion because the world seems to be fixated on innovation for the purpose of benefiting economically and keeping up with global competition. Maybe in the lessons in the future, such areas would be covered.”

I am pleased to learn that ICT is one way people can reach out to one another to spread knowledge and skills to the rest for them to cross the digital divide. The important thing is to make telecommunication affordable and to build wireless systems cheaply and deploy them everywhere.

Famous spiritual leaders would advocate that we are connected and inseparable, because what happens to one entity may affect the other. Through ICT, I hope to see a rise in universal spirituality and for people to see that we can have the power to affect others positively because of this “expanding concept of what it means to be human”. (John Naisbitt)

Issues for Further Discussion

In Katty’s presentation about The role of ICT in Sustainable Development, she posed a question whether the promotion of ICT will gear the rest of the world to a more “westernised” culture. I would think that communication is two-way, for example in a communication between an Asian and an American, both are learning of the cultures of each other, ICT helps to speed up such exchange and the result is a more “Globalised” culture, instead of a “westernised” culture.

However I wish to discuss more on how ICT has produce such a globalised culture  and whether consumerism / capitalism has a role to play in it. For example, everyone around the world recognises the big M logo from Macdonalds, to what extent did ICT help to propagate such visuals to every corner of the world?

Personal Rating

Class is enjoyable and informative as usual, most importantly, we are beginning to touch on what it means to be human in this era of rapid digital revolution, such knowledge will definitely help me cultivate a better self. I would rate today’s lesson a 9/10.

TWC Session 4

Brief Overview/Summary

We discussed about the Drivers of World Change and Change Management vs Leadership. We begin the lesson by discussing about the responsibility we all as consumers have, with regards to choosing the products that support sustainability. As long as we believe strongly in sustainability, we can pressurize governments and companies to listen to us. We can play a DIRECT role in changing the world. I believe so, because the shifting values of people, with the help of social media, can propagate changes to the world we live in. People is a strong driver of world change, as I have discussed in my oral presentation.

On top of that, a globalised country will be more adept to reacting positively to world change, be it Evolutionary change, Revolutionary change, or Disruptive change. And these are the countries that will do better because of their awareness of standards which may help them imitate and innovate at the same time. According to Charles Darwin, only the ones being able to adapt to change may thrive.

In Change Management and Change Leadership, we discussed the difference between a leader and a manager and came up with a conclusion that leaders formulate new paradigms while managers follows these paradigms and get things done. To be a good leader of change, one has to be far-sighted and be proactive in preparing for change.

Interesting Observation and Ideas

1. We discussed about the differences between Drivers of World Change in reading 1 and reading 3. The first reading, Global Drivers of Change to 2060 predicts several trends that might take place in 50 years times, while the next reading suggests world trends specifically to security, economy and power shift. It was insightful for me because now I am aware where we are heading and can anticipate the imminent changes for the world. These trends serve as a guideline to let us examine whether are we heading towards  a better direction, or to change the path that we are currently undertaking. Identifying potential paradigm shift may help us to prepare ourselves in time of change and to be ready in responding to changes. This acts as a tool to stimulate generation of new ideas to cope with the changing needs of the world.

2. The pessimism – time curve is a great illustration of the reality of life. It proves only one thing, that is only the ones who persevere to reach past the “informed realism” will get to the completion of a launch of an idea/ business/ relationship.  I can connect with this notion because I experienced the process of setting something up and giving it up half way due to difficulties faced and business partners withdrawing from their commitment. If this is the guiding principle of all successful ventures, I would definitely abide by it and try and try till I make it past the “informed realism” stage!

3. The shirtless dancing guy illustrates a good point about how the first follower of a lone nut can transform him (the lone nut) into a leader. Video was hilarious but very insightful. We always give credit to the leader of change but neglect the fact that it was the first few believers that enabled the change to spread.

Key Takeaway Points

The ultimate message taken from class was that keeping an open mind about change is an essential attitude to thrive, and managing change is as difficult as leading a change. Both are constant and demanding affairs. We have to think ahead of time to anticipate changes and stay relevant before they catch us by surprise.

On change leadership, I learned that as a leader of new paradigms, one needs to have the first followers who believe in him and help turn him from a lone nut to a leader. One must also constantly be preparing for change and never give up in times of informed pessimism. This tells me that having the right partners and fellowship is as important as the new idea itself.

Issues for Further Discussion

I am lucky to have a lot of time for people to discuss about my oral presentation, but I wish to hear more views on what people think about the power of people and social media, especially in the context of Singapore. Is the Government’s policy to regulate internet content a form of regression, instead of progression in terms of development? Should there be better policies implemented to ride on the power of social media rather than to try and control it?

Personal Rating

I enjoyed the class tremendously due to the new knowledge and insights gained. I rate it a 8.5/10.

Individual Topical Review Report Outline

Topic: Evolution of Visual Communication (New Media Design)

Executive Summary

This paper seeks to explore the development of visual communication since prehistoric times to the modern world and where it might head in the future in forms of new media designs. The paper examines how the economic, technological and social development of societies have always been changing the way we receive visual messages, and how new media designs and consumer behavior can connected to benefit the modern society and economy at large.

Why I chose this topic

Today’s modern world is bombarded with visual stimuli and sensory overload. It becomes harder for marketers/ visual communicators to capture our shortening attention-span. I would like to investigate on how new media designs are changing the way we receive visual messages and call for a revitalization of visual communication in our seemingly noisy world. This will be a good opportunity for me to reflect on how far innovations in visual communication has developed and shaped the way we receive visual messages as consumers now.

Background

• How do we receive visual messages now?
• What is New Media Design in Visual Communication?

Historical perspective

Brief History of Visual Communication (different eras)

• Innovations in Visual Communication in each era
• Impact of innovations to people of each era
• How effective were these innovations in serving their purpose in each era?

How technological development now helped to overcome limitations people faced in the past?

Current situation

• Introduction to various digital innovations (New Media)  in visual communication
• Why New Media?
• Advantage and disadvantage of such digital innovations
• How has it affected the way we perceive and receive messages
• Impact on social patterns, especially in Singapore (Examples in local context) and how it can help to benefit us.

Future Consideration

• What does the future of New Media Design entail for us? Will digitalization of visual messages add on more noise to the visual clutter we now endure?
• Potential shifts that digitalization may bring about for communication – economically and socially.
• Will New Media Design replace all other older forms of media?
• How might New Media Design evolve from here?
• How consumer behavior might change with the future evolution of New Media Design (Smart ads?), and how communications agencies can harness this evolution to reach out to more people.
• Personal recommendation

Conclusion

Bibliography

TWC Session 3

Sustainability has become quite the IN thing in the commercial world in recent years because we are beginning to witness the negative impact of capitalism to the environment and developing nations. More people are educated of the concept of sustainability, preservation of our earth’s resources, and innovation to find alternative energy. We cannot ignore the signs of our ailing planet and the opportunities that sustainable energy can bring us, because we all know the earth resources are increasingly depleting. According to the lesson, the US has 5% of the world’s population but uses 30% of the world’s resource and produces 40% of the world’s waste and it is mentioned that should the world adopt similar consumption patterns, we would need 3-4 Earths worth of resource and land to sustain this.

The notion of yielding profit for the sake of economic progress at the expense of the environment is outdated because we now know that industrial development and sustaining the world can go hand in hand as more organisations are embracing the green-movement. Through the readings and today’s lesson, we are taught that policies and measures are brought in placed to encourage innovation in sustainable development and to promote sustainable industrial practices.

In a reading published by European Commission, the EU is dedicated to ensuring high level of environment protection and sustainable economic growth. It does so by implementing the Integrated product policy (IPP) which seeks “to
minimise environment degradation by considering all phases of a product’s lifecycle in an integrated way and to take action where it is most effective.” I feel that the IPP toolbox is a effective framework to involve everyone (consumers, governments, corporations etc) to take responsibility of the environment. Firstly, economic and legal framework can be implemented by the government to ensure that corporations adhere to legislation (like the Best Available Technique) and to fund the R&D of environmental technology. Secondly, encouraging corporation to set good examples and apply lifecycle thinking in their production and operation can reduce impact on the environment. Thirdly, consumers can be educated to look out for products labelled as environmental-friendly and thereby taking responsibility for the environment. A well-rounded scheme I think our local government and enterprises can adopt.

As industrialisation is an intrinsic part of development of a nation, it must be better managed with greener options, because making money now doesn’t necessarily means degradation of the environment. So who’s responsibility is it to ensure that production and consumption are sustainable? In the presentations and debates by our classmates, it seems that sustainability is a collective effort and everyone should be responsible for the earth. To me however, consumers need to be more aware of where their products are coming from and what goes into so that we can all make informed purchasing choices like supporting products that come from socially-responsible companies.

The second portion of the lesson talked about Technology and Innovation Management, introducing the valleys summits and clouds model. We were taught that to remain at the the top, companies will have to constantly strive to be at the “summit” where there are high investment prospects and the focus there is to capture value proposition. It can be done by the RDA process and the management of innovation is as important as the innovation itself. I cannot agree more because different people with different skill sets (marketers, managers, researchers etc), if put together, can achieve so much more by taking a piece of invention into further heights and influencing more people (and establish market dominance). In the case of Apple iPhone, no body knew they needed a smart phone until the innovative product itself opened a whole new market.

I would personally rate the lesson 8/10 because of the insights given by Prof and fellow classmates, they are more useful in allowing me to understand concepts that may be hard to comprehend from solely the readings.