To conclude my digital business models journey, lets take a trip down memory lane! To make this concise, I will break this down into 3 segments based on Rolfe et al.’s (2001) reflective model: What? So what? Now what?
What did I learn from the module?
With no blogging experience beforehand, summarised below is what I learnt:
So what has commenting taught me?
First round of blogs
I felt writing my first blog post and reading BEMM129’s Week 2 content taught me that convenience is one of the most important commodities to our generation and I wanted to explore it more in business models.
With Mandy’s blog on Tesco, their “Click+Collect” model is a great example for convenience as it utilises both physical and digital locations and that even though currently their physical stores are declining, I voiced my opinion that I do not think that its a problem.
When I came across Sara’s blog on Amazon, I raised a concern that even though Amazon has one of the most successful business models, was it really considered successful ethically? Even though they’re not breaking any anti-trust laws and it’s very convenient for consumers, it still neglects the interests of workers and rivals so shouldn’t it be changed?
Second round of blogs
First of all, shout out to Carolina for her blog on TransferWise as it made me realise a new industry I’m interested in- FinTech!
Reading her blog made me think this may be a great example of not favouring technologies over business models. An article provided in BEMM129 explained that it is not the implementation of technology that makes an organisation successful but the business models and how one utilises assests instead. With many FinTechs jumping on the blockchain bandwagon (Medici, 2018), it was interesting to see TransferWise wasn’t- especially since they’re quite a successful money transfer service. This is why I questioned whether or not she thought TransferWise should be buying into blockchain- because I really don’t think they need to.
From writing both my blogposts on Sephora and Glossier- I learnt trends such as personalisation and user generated content were important when strategising digital business models. This is why I am trying to understand how it can be applied in different industries. Hence, when Tiphaine’s blog stated that “the number of users (have) recently been growing at a much slower rate” on Netflix, I researched more about Netflix to see how they could address user-generated content. And to my surprise, I found they had an interactive content section- with the latest interactive series launching in April!
Now what will I be taking forward into my future learning and professional development?
References:
Cedar. Reflective Commentaries. Retrieved from https://cedar.exeter.ac.uk/media/universityofexeter/schoolofpsychology/cedar/documents/pwp/Supporting_reflective_practice_and_writing_reflective_commentaries.pdf
Elkington, J., & Johnson, R. (2018). We Need Breakthrough Business Models, Not Breakthrough Technology. Retrieved from https://www.fastcompany.com/40540343/we-need-breakthrough-business-models-not-breakthrough-technology
Medici. (2018). Know More: Blockchain – Overview, Tech, Application Areas & Use Cases. Retrieved from https://gomedici.com/an-overview-of-blockchain-technology/
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