Blog 04

My last journey in BEMM129.

Discussion on MOOC

In the age of digital technology, production structure and job role are being redefined. The popularity and application of digital technology can greatly increase productivity and may reshape the role of people in the production field. In the week 1 of MOOC course, I discussed the changes that digital technology has brought to people’s careers. In the past, I thought that artificial intelligence would replace the work of some people, and eventually cause some people to lose their jobs. But now, I have learned new technologies such as artificial intelligence, and big data brings more benefits to human society. These technologies can greatly improve people’s work efficiency and change the inherent work mode.

The advent of the digital era brings opportunities and challenges to businesses around the world. Digital technologies are disrupting fashion industries with new models. It has brought challenges to the industry, and it also leads to changes in the industry. On the one hand, digital transformation threatens their traditional core business. On the other, it gives innovative companies a chance to get ahead of their competitors(Edmead,2016). In this digital age, companies are either be eliminated in the digital revolution or become the most well-prepared digital leaders. According to an article I commented on, some traditional travel agencies have found that their market share has been greatly reduced and have to come up with new marketing strategies, such as developing online businesses. Therefore, companies must make changes to meet these new challenges. All they have to do is focus on the key success factors and become digital leaders in this new and exciting digital world through digital transformation.

comment 1 and comment 2

Digital Business Model

The fierce competition and unpredictable changes in the online market have great risks(McKinsey Global Institute,2013), but at the same time, new technologies can bring people new opportunities. In the blogs I’ve reviewed, I’ve learned how organisations are using the digital business model to succeed. AI, big data and social media are changing the value creation process in companies. The big data can be used to build up detailed customer segments, which can be used to more accurately position products and develop relevant marketing strategies(Camilleri, 2017). The company would use big data to collect more customer information and use it to design products. More and more brands are realizing that digital marketing and social media are changing the way people shop and consume.

Comment 3 and Comment 4

Besides, I want to apply what I learned in this module to my daily life. The following is the video I made.

Reference

Camilleri, M. (2017). Market Segmentation, Targeting and Positioning. 10.1007/978-3-319-49849-2_4.

Edmead, M. (2016). Digital transformation: Why it’s important to your organization. Retrieved from https://www.cio.com/article/3063620/digital-transformation-why-its-important-to-your-organization.html

McKinsey Global Institute. (2013). Disruptive technologies: Advances that will transform life, business, and the global economy. Retrieved from https://www.mckinsey.com/~/media/McKinsey/Business%20Functions/McKinsey%20Digital/Our%20Insights/Disruptive%20technologies/MGI_Disruptive_technologies_Executive_summary_May2013.ashx

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