Week 6 - The BioBusiness Revolution

This week, we looked closely at the BioBusiness Revolution; the past, present and future of Healthcare and Biomedical Sciences. BioBusiness, being the commerce of life science, is a colossal field that encompasses a great number of businesses; from agriculture to genetic engineering. I was astounded by the fact that BioBusiness already constitutes over a quarter of the global GDP and employs some forty per cent of the world’s labour force!

I just felt like appreciating the wondrous beauty of nature. All living organisms have been built from the same basic source code or blueprint – DNA; and from this basic template, they have evolved into immense diversity. This explosion of existence of what works and what is better (adaptations and mutations) has created the millions of species that exist today. Prof mentioned how humans have played the role of God to date in shaping how life forms have developed. For example, the crossbreeding of different wolf species to get the desired type of dogs that we have domesticated and utilized in society. Humans have destroyed huge habitats and eradicated species through our exploitation of Mother Earth.

It is also fascinating to see how humans, through advanced scientific research, have been able to artificially synthesize natural compounds, enzymes and substances. Several people who are close to me have had to take artificial insulin injections to counter diabetes. This disruptive biomedical innovation has left me grateful and appreciative of this field and the potential it has to change lives. Additionally, being a football fan, I have marvelled at Lionel Messi’s use of artificial growth hormones which has enabled him to reach where he is today. Another important thing to note is that the innovations in healthcare have also found tremendous potential in applications in other fields such as agriculture. An interesting range of products are being innovated in the field of Bioplastics. Their amazing uses and non-reliance on oil for plastics makes them highly favourable in today’s markets.    

We discussed the worrying fact that the US takes up half of the globe’s Healthcare market as it invests mostly on the older end of the healthcare spectrum i.e. on end-of-life spending. These are people who, as Prof says, ‘already have one foot in the grave’; and yet, the US spends such a vast amount of resources to cater to their needs instead of focusing on boosting the wellbeing of its youth.      

It is interesting to note the re-emergence, acceptance and commercialization of traditional medicine and healing such as Ayurveda, Chinese Medicine, Acupuncture, Acupressure, Herbal Medicine, etc.  I feel that this is a more open-minded and holistic approach to treatment as opposed to merely relying on allopathic cures. I can relate this to the movement towards organic food; people are getting more educated about what is good for their health and producers have no choice but to research and develop products that fill this gap. The fact that the closer you go to nature, the lesser your side-effects become shows that this is the ideal direction for us to head in.  

I must say that I greatly enjoyed the presentations and discussions we had this week; I’d give this session a 10.

Week 5 - ICT and World Change

This week, we explored ICT and World Change. We went through some various aspects and innovations of this field including Web 3.0, Cloud Computing, Gaming, Wireless Technologies, etc.


Of course, there will never be enough time to go through all the various aspects of this revolutionary field which has enveloped the most part of our lives. From the electromagnetic waves that surround us to our beloved smartphones, tablets and computers, ICT pervades us. Nevertheless, I would like to describe some of my random thoughts about this  topic and our session.


I learnt about the existence of CKO's (Chief Knowledge Officers), whose job is to ensure that their organizations maximise the value they achieve from their intellectual capital. They are responsible for gathering the laws and condensing the culture of a firm so that they can be preserved and instilled in future employees. 

Without a doubt, the Internet is the single most influential aspect in our modern lives. The amazing rate at which the Web is evolving towards Web 3.0 shows just how exciting a time this is to be alive! The idea of having a web browser as your personal assistant, or rather, an extension of yourself is sublime! The effect it will have on humans’ ability to be efficient will be revolutionary! I can visualise myself talking to my mirror every morning, planning my day. I could tell my phone to keep my home air-conditioned when I return home! The possibilities are endless!

“The most exciting breakthroughs of the 21st century will not occur because of technology but because of an expanding concept of what it means to be human”  

- John Naisbitt 

Interestingly, I have chosen Cloud Computing for my Individual Topical Review Paper because I strongly believe that the Cloud has had, and will continue to have, an exponentially disruptive impact on our world. I am fascinated by the possibilities of seamless integration of our services through a common source; allowing us to access profound processing power anytime, anywhere and through any computing device. 

I must say that I am astounded by Microsoft’s Project Natal. It is a truly mesmerizing breakthrough in human-to-computer interaction. I can’t fathom how complex and superior this technology is; to me, it is almost magical for a computer to have such human-like thoughts, emotions and responses.

“Any sufficiently advanced technology is indistinguishable from magic.”  

- Arthur C. Clarke 

We also talked about the untapped potential of ICT in poverty alleviation, closing the digital gap between the rich and poor, as well as it's application in healthcare and agriculture. I feel that the sky is the limit in terms of the ability of ICT to empower people. Giving them access to information, enabling greater efficiency in processes are paramount and can be done best with the use of ICT.

“Today’s real borders are not between nations,

but between powerful and powerless,

free and fettered, privileged and humiliated.”

- Kofi Annan 

Lastly, I would like to reflect on my presentation. I believe that I presented confidently and effectively though the presentation could have been a little more concise. This might have been due to my enthusiasm about my topic and the fact that there was so much to say yet so little time. I would tell myself that I must continue to improve my speaking as well as listening skills as a  I feel that I have a long way to go before I become the business leader I dream of becoming. I am proud that I have the opportunities to hone my personality and leadership skills in such an esteemed university.


I'd give this session a 10

Individual Topical Review Paper/Report Outline

Cloud-Based Business Applications

Cloud Computing’s Transformation of the World’s Business Environment

This paper aims to explore and describe the disruptive impact of cloud computing-based applications on the global business environment.

The advent of high-speed internet, coupled with rapidly developing computing technologies, have enabled businesses to tap into ‘The Cloud’ – a vast server pool of resources – and obtain access to integrated software applications and profound computing capacity without the need to install or maintain hardware and software.

This is a paradigm shift in providing productive, flexible, cost-effective and holistic improvement in how firms manage their information and business activities.

The rationale behind choosing this topic:

I am fascinated by how the cloud is transforming the way that businesses can exchange information by collaborating and integrating their internal and external operations. Personally, I feel that the savings in time, energy and money make this technology truly disruptive.

A game-changer for small businesses, cloud computing continues to shrink capital costs for start-ups and fuel competition by breaking entry barriers.

In times of economic uncertainty, cloud computing is a cost-cutting boon for both private and public sector organizations whose operations are being stretched. Cloud computing promises higher efficiency at lower costs; automation will diminish the need for staff to maintain and upgrade systems regularly. This will also allow IT staff to focus on more important, strategic goals. Firms will only pay for what they use; therefore, computing will change from a heavy cost to a utility.

Additionally, in this paper, I intend to focus on:

v  The pre-cloud era: how organizations managed their information and IT needs prior to the origins of cloud computing-based platforms and services.

v  How cloud computing has already changed the business landscape through cloud services like Google Apps, Salesforce CRM, Skype and Office 365.

v  How current firms plan to integrate cloud computing into their operations and propel their firms into a new era of efficiency and profitability.

v  How new services and applications built on cloud platforms will transform age-old industries, such as healthcare, financial, manufacturing and education.

v  The implications of this technology for staff; it is likely to have a positive effect on business culture by providing flexibility, as professionals will be able to access their business information anytime, anywhere and from a bevy of devices including their smartphones and tablets.

v  In times of environmental concern, cloud computing is a greener alternative, allowing firms to cut down on their carbon emissions. 

v  What are the possible or likely drawbacks and concerns about the use of this technology, such as: security, reliability, and control; and what developers are doing to counter them. 

The paper will conclude with my perspectives on the impact that cloud computing applications have on business competitiveness, and why I feel cloud computing is a significant technology revolution that will define the new IT-centric business era.

Week 4 - Riding the Wave of Change - Change Drivers, Leadership & Management

This week we learnt the about catching the wave of change at the right time and riding it with success. Prof Shahi showed us various Drivers of World Change that have shaped and continue to shape this planet’s destiny:

1. Evolution – the eternal process of incremental adaptation of species through millennia has transformed organisms on this planet into their current forms
2. Global Warming – the overheating of planet Earth due to the emission of Greenhouse gases is causing climate change and rising sea-levels – one of the biggest challenges facing humanity
3. Disease (The power of Germs) – including  the plague, SARS and Bird Flu epidemics which have killed millions of people
4. Scientific Discovery and Technology Innovation – the numerous breakthroughs that have dramatically transformed our lives and civilisations in terms of efficiency, standard of living, etc.
5. Business Innovation – entrepreneurship and private enterprise have created great wealth in our economies
6. Competition – businesses have continuously improved their products, processes, systems, prices, etc.
7. Social, Demographic, Ideological  and Cultural – through mass media and migration, we have been exposed to and influenced by various cultures; especially Western culture has had a great impact on our attitudes and outlooks
8. Globalization – the opening of new markets and the elimination of barriers to the movement of human, intellectual and financial capital
9. Changing Expectations and Tastes with Changing Times – due to humans’ unlimited wants and ability to rapidly take technologies and developments for granted

Adapted from: BioBusiness in Asia (Pearson Prentice Hall, 2004). Gurinder Shahi

Subsequently, we learnt about Change Management and Change Leadership. First and foremost comes the Realization of Change. Prof Shahi described three realisation attitudes players could adopt:

1. Eagle Attitude – proactive; fast to act, with a bird’s eye view of the change and understanding of the greater good. Also has a “Rising Star” attitude with an open mind.
2. Ostrich Attitude -  passive; recognises the change, may even talk about it or make “wise” predictions,  but chooses to do nothing
3. Dodo Attitude – ignorant and inactive; fails to recognise the change and hence fails to adapt

A Change Leader is a visionary who has an idea, finds a solution, creates a paradigm and starts an entity by putting together a management team. Whereas, a Change Manager is a functionary who works to put the Leader’s ideas into practice by organising resources and implementing the Leader’s framework. Ideally, the Leader should back off and allow the Manager to continue with the management of the firm because not all leaders have the skills needed to manage an entity.

In recent, exponential times, it has become vital for firms to substitute the Traditional Model for Strategic Implementation with the Modern Model. The Traditional Model relies on periodical “freezing” and reviewing of business’ direction whereas the Modern Model is about continuously monitoring and tweaking the firms’ processes to keep in line with changing times.

I found Prof Shahi’s Pessimism-Time curve intriguing as it beautifully illustrated the hurdles a Proactive Change Leader had to overcome to successfully attain his/her goal: Uninformed Optimism > Informed Pessimism > Informed Realism > Completion. It was interesting to see that this applied to personal relationships as well! It highlighted that a Leader needed informed grit and perseverance till the very end in order to succeed. Prof placed emphasis on the need for a leader to always think differently, be curious, be unreasonable and never be satisfied even when society pushes you down.

Personally, I feel that it is also important for a leader to stop persevering sometimes and have the ability to abandon ideas he feels will not be feasible or viable in the long run and to devote his time and energy on those that matter. Steve Jobs is known for rejecting far more innovations than he has ever accepted. He had the ability to foresee which innovations would be the most worthwhile for Apple to progress with. I guess this is why the iPhone and iPad have caused disruptive changes in the smartphone and tablet markets respectively. Likewise, people in an endangered relationship should assess their situation and decide to end the relationship if they feel that it is not in the greater good to continue instead of persevering and losing out on other, potentially better, relationships. Of course, this is super subjective!

I look forward to learning about and having discussions on how Technology has transformed Medicine and Medical Science.  

I’d rate this session a 9/10.

Shaak

Week 3 - Sustainable Development

Our attitude towards Mother Earth has been a repugnant one. Everywhere I go, I observe people negligently wasting electricity, plastic, food, water, petrol and other resources. I cannot describe how indignant I feel when I see this abominable waste. I shudder to think what the world will be like when I’m 70 years old and have grandchildren. Thus, I was very pleased that we discussed the topic of Sustainable Development this week.

We have been relentless in our ravaging of this planet and it is payback time! I feel that it has a lot to do with human nature. We are always tempted to get away with what we can take and as long as there are no immediate setbacks, we continue acting with our short-sighted attitude until it is too late. Few men and women have had the ability to see the greater good; fewer have had the guts to pursue it and even fewer have been able to go against the tunnel-minded and greedy majority to achieve it.

A great problem that has plagued us has been the lack of pricing of externalities; we have not been accountable to mother earth. Firms have never included Environmental Cost in their balance sheets and consumers have never paid the actual price for their products. If the damage we have caused to Mother Earth could be given a monetary value, I am sure the fine we would have to pay would exceed the world’s cash reserves!

Prof showed us “The Story of Stuff” which I found highly intriguing. An important point was raised: the time has come for humanity to consciously and actively start shifting from a linear model of industrial development (build, use, bury) to a cyclical one (full circle) which will enable economic growth and environmental sustainability for generations to come.

I second the notion that it is also important to take into account not just the environmental welfare but also the welfare of people who work in toxic environments to deliver us the good we take for granted and the animals whose habitats we destroy.

I feel that I see that some of main answers to this problem are innovation with government support. Innovation is required in the development of superior Green Technologies which can:

• Recycle most materials
• Enable most products to be biodegradable
• Allow us to harness & store renewable energy more efficiently & cheaply hence enabling us to stop depending on fossil fuels
• Recycle materials and water efficiently and cheaply    
• Cut down emissions of greenhouse gases e.g. nano-catalytic convertors in cars

Without the support of the globe’s governments, this will be extremely difficult to achieve. Governments will be needed to fund green initiatives, provide incentives for firms to go green, put in place legislation on practices and product design for firms to follow and educate its citizens among other things. Consumers too would have to do their part by boycotting wasteful products and practices.

We also touched on India and China’s rise and whether the world should expect them to reduce their aspirations of the extravagant lifestyle of waste that America has adopted. I feel that India and China will have to look at the greater good of this planet and not be as greedy and short-sighted as America. They must of course be allowed to progress but must embrace green technologies which will enable them to achieve efficiency and sustainability at the same time.  

The second half of our lesson focused on Innovation Management where Prof Shahi introduced us to his Landscape Model for Technology. It described three types of opportunities:

1. Valley Opportunities: low barriers to entry > hence high competition > hence low margins > hence low interest for investment e.g. agriculture
2. Summit Opportunities: technology intensive > hence high barriers to entry > hence low competition > hence high interest for investment e.g. smartphones
3. Cloud Opportunities: Cutting edge hi-tech goods with high barriers to entry, low competition and no current markets e.g. cloning

Taken from: BioBusiness in Asia (Pearson Prentice Hall, 2004). Gurinder Shahi

I loved this quote Prof gave us:

“Life is pretty simple:
You do some stuff.
Most fails. Some works.
You do more of what works.
If it works big, others quickly copy it.
Then you do something else.
The trick is the doing something else.”
- Tom Peters

Apple has kept doing that "something else" by taking the Cloud Opportunities and creating products unknown to man; creating new wants, new markets, new technologies before any other firm. And when the others copied, it moved on; it did that "something else" again, leaving them in its dust.

Prof Shahi then showed us his R-D-A Translation process which effectively outlined the different stages of Research, Development and Practical Application in the Innovation Process.

I could go on and on about my thoughts on this week … I must say that I have enjoyed learning so much and looking at this world with new TWC glasses… I’d rate this session a 10/10 because the topic of Green Technology is very close to my heart and we also had a round of superb presentations! I can’t wait till next class :D