Session 6 - Biobusiness, Healthcare

Session 6 – Bio-business: Healthcare and biomedical

As topic shows, this session was about bio-business from the healthcare and biomedical point of view. This session was particularly interesting because of the depth and surreal atmosphere that surround biomedical advancement. If we were to estimate the progress of biomedical thus far, I will say it is hardly reaching the 1^st quadrant of an exponential curve. And that is why it is so mysterious and full of new surprises and developments.

Despite so; the way Western medicine develops has always been through facts and chemicals. Many medical practitioners still reject the use of traditional or alternative medicine. It is of course understandable given the controversy of the study results thus far showed mixed results regarding the effectiveness and success rates of these alternative medicine. However, because of this, they might be missing out on some very critical clues that might exist in alternative medicine. Take the example of Tongkat Ali by Professor Gurinder, the traditional Malay medicine that boosts virility. Most modern people took it as old folk’s tales and dismissed it as superstition years back. But now, researchers discovered the value behind this old medicine, proved it and promoted it to be a highly-valuable medicine now. This example clearly shows the wisdom left behind by our ancestors. They were not able to name the compound responsible for this miraculous effect as we can now. But they were the ones who applied their daily observations into practical treatments before we do. If we were to dismiss these old wisdoms, how much valuable resources are we losing? 

As compared to New Western system, traditional medicine does not follow the Western convention of x-ray, chemicals, etc. Thus, statistics are often more inconsistent and less accurate. However, this does not necessary mean that they are less effective than the usual treatment. One article in The Straits Times by Senior Editor Ivan Ho brought up a point where research showed that bogus acupuncture produced the same results of pain reduction as real acupuncture. While one can assume that with this report, it shows that acupuncture only has a placebo effect, I prefer to defer my judgment. Many other reports on the other hand has proved the effectiveness of acupuncture, as Professor Gurinder pointed out German researchers have found that drug injected in these acupuncture sites can produce up to 60 times effect. In fact, I will prefer to conclude that acupuncture can be considered as an extraordinary form of treatment with substantial psychological and physical benefit. After all, there are many people in the world who swear by the alternative medicine that treated them. 

The problems with alternative treatments are their abstract concepts that we humans are unable to grasp so far. These superstitious feeling however, might be dispelled eventually as we explore more and understand the basis for such abstract concepts. Thus, I believe there is a huge potential there as we study the basis for these alternative treatment, we might discover a whole new angle of analyzing our body anatomy. Apparently, China shares the same belief. There have been an increasing number of Eastern-Western fusion treatments and researches and if true, the medical edge will belong to those who embraced such possibilities.

Session 5 -ICT

Session 5 - ICT, a driver of change?

This particular session covers one of the closest things to people's heart. Singaporeans and most people around the world, regardless of developing or developed countries are increasingly reliant on ICT as a way of life. It brings us so much convenience that we can't imagine life without these technologies. Yet, we need a lesson on ICT because we took them all for granted.

In particular, cloud computing had drawn a lot of attention recently. Cloud computing is simply storing information and being able to access it anywhere with a connection. Simple as it sounds, it has been such an exciting advancement. It is cutting down drastically on redundant, highly expensive servers, reduce the barrier to entry for any IT-related cost and allowing much more freelance or small companies to gain rapid foothold in the industry. By doing so, it is expanding opportunities to every single individual to explore new creative ideas and business models, giving companies a more even playing field. It obviously beneficial for the economy with cost efficiency and encourage greater innovation.

In the report (https://members.weforum.org/pdf/gitr10/part1/chap%209_economic%20consequences%20of%20the%20diffusion%20of%20cloud%20computing.pdf), it estimates huge cost saving for the industry of up to 5%, possibly generating 1m jobs and accounting for 0.3 per cent of GDP increase in Europe just by adopting cloud computing. Not just that, excitement is that cloud computing generates both temporary and permanent jobs that can greatly reduce the much unwanted unemployment rate.   Assuming this report to be accurate, this is extremely relevant to Europe now! The recent debt crisis in Eurozone is forcing countries to implement harsh, austerity measure to reduce debt. Majority of the measures are extremely detrimental to the economy and are likely to cause slower growth or even prolonged recession in future. While cloud computing is not the miracle pill, by cutting cost through usage of cloud computing is a much more constructive, possibly creating long term cost efficiency and growth. Furthermore, it can generate small amount of temporary jobs that might help to reduce some unemployment immediately. Perhaps the governments are so overwhelmed by the intensity of the crisis that they neglected the more subtle yet long-term approach of doing things, otherwise I do not see any reason why they have not been actively encouraging it since the last recession in 2008.

In conjunction with cloud computing is the increase in productivity gain in ICT/knowledge revolution thus far is about 5x. We covered a couple of reasons in class, mainly because it has yet to ripe and the hereditary structure stiffens knowledge transfer rather than encourage knowledge transfer. Thus, companies start to initiate programmes such as alumni for retirees, mentoring, flexible retirement work schemes, etc. As more companies value these knowledge transfers, I believe it is only a matter of time where all tertiary industry will start to adopt these models.

However, on the other spectrum, employees can be another limiting factor why knowledge advancement has yet to generate the productivity desired. While the hierarchy system must be changed, employees must also now undertake much more responsibility and initiative. Yet, most employees previously in the orders-only positions cannot change instantaneously. Even with an elaborate system in place, it is always been hard for humans to accept change and will quickly be overwhelmed if caught unprepared. Thus, fresh graduates in particular should be equipped with the skill to absorb the information and adapt quickly. Schools should start preparing students to face such an overwhelming world outside and to be able to grab the gist of anything rather mere memory work. After all, the web provides you with the hardest formulas and thickest encyclopaedia within split seconds. Then only, at the bottom of the corporate pyramid, employees can fully utilize the resources and enhance productivity by another 20 folds.

Individual Paper outline

Individual topic review paper

Topic: HTML and its impacts on the world

Executive summary

This report identifies the creation of HTML as a disruptive creation and has thus revolutionized browsers. Thereafter, it had changed the face of internet, creating uses that never existed before and created billion-dollar worth companies. As HTML gets expanded, we are likely to see more amazing impacts on our lives, particularly in field of business. While the report will cover some impacts on other areas, the focus will remain in the field of business. 

Rationale for choosing this topic

This topic was chosen for its continuing impact and still evolving at a rapid rate. Browsers technology had far-reaching impacts on society, business, politics and even environment. Yet, its current capability seems to be far from its limits with the embryotic cloud computing, HTML5 and mobile browsers. Thus, I wish to explore the validity of this statement and how it might possibly shape our lives in future. If the statement is valid, I wish to explore how it might shape the future business environment as this will have a direct impact on our future working environment.  

Introduction

What is HTML, internet and browsers?

How HTML has come about and how it had evolved

Key opportunities/challenges/issues

What opportunities have HTML and browser created for the business world?

• -        Past opportunities created. Examples to be researched
• -        Future “cloud” opportunities
• -        Possible “spinoff” effect from HTML and browser(with or without further development)

What are the damages HTML and browser created for the business world?

• -        Past industries that have been impacted negatively due to this development
• -        Future “valley” industries that can become obsolete, if any

What are the key challenges in the development of HTML?

• -        Who had been the past driver?
• -        Who is the current driver?
• -        Who might be the future driver?

Key Observations

What are the parallel examples we can draw some learning points from?

What other impacts are there on other aspect of society?

Discussion and analysis

Is browser and HTML near peak or yet to reach?

Where is browser and HTML going to be in immediate future, near future and distant future?

What can influence the course of HTML and browser’s development?

What are the key impacts it will cause in society, especially business in future based on our expectations of development in near future?

Conclusion

To decide on the validity of the statement of HTML and browsers’ development has yet to peak and if yes, what are the impacts on business environment.

Session 4 - Drivers of world change

Session 4 – Drivers of world change

Today, a very interesting yet fundamental concept was introduced to us, the difference between evolutionary change and revolutionary or disruptive change. I particularly appreciated this concept because it helps me to understand better what change is and put more effort into understanding the difference between changes.

In conjunction with last week’s idea of valley, summit and cloud, I believe majority of these revolutionary changes are found in the cloud and summit, especially when an idea from cloud evolves into a summit. While disruptive changes bring about huge opportunities, it also means it is becoming harder to maintain one’s lead with the game is changing ever so quickly, making you obsolete as quickly as you become successful. 

Ever since humans existed, the pace of these disruptive changes has been ever accelerating. Today, information technology seems to have the most rapid pace of such disruptive change. Just years ago, desktop with internet totally revolutionize the way we do things, from paper to electronic.  We thought Microsoft was invincible. Now, desktop are becoming obsolete and Microsoft’s worth dived from US$600b to US$200b. Just few years ago, Nintendo widen the lead against Xbox and PS3 with their amazing motion-sensing wii and touch-screen DS. Today, iPhone threatens to make Nintendo’s latest 3DS totally obsolete as soon as it was launched. Cheap, high quality iPhone games totally re-shaped the entire consumer mind-set. We don’t see any reason why we should still pay $60 dollars anymore. While we all understood the idea that Apple is overtaking many companies out there, the definition of disruptive change helped me to fully understand why. 

Thus, with this knowledge in mind, what we should look out for in future when we study any change is whether this change will cause an irreversible change in consumers’ and public’s expectations. If it does, we better pay double the attention to it. IT industry has been developing very rapidly and will continue to do so but it may not be the sole cause of attention in near future. With the uprising of developing countries and Middle East, this is a disruptive change. Demand for oil is going up, making oil a commodity even more precious than gold. While we all believe China is going to be the next rising star, China has a big missing link. It does not have many natural resources despite its vast land. Accelerating inflation, especially due to raw resources can be potentially a very disruptive change. It might either shift all the power to resources rich countries or force a jump in alternative energy resources, causing many countries to become obsolete.  We, a country without natural resources can too suffer or capitalize on it. It pays to manage change well indeed. 

Hopefully, with the theories we learn in second part of the seminar, what is leadership and how corporate leadership management are changing now will help us in future. Old, regimental army management no longer works in the new industries; leaders not just have to lead but balance between defining a purpose for his team and treating them as an equal. Rather, I need to learn how to apply them into my daily life now.

TWC Session 3 - Sustainable development

Technology and Industrial development: Towards sustainability

Environmental concern is a hot topic today, where most schools and papers often revolve around this topic of sustainability and environmental protection. It is such a hot topic because it is a very real issue yet government do not take serious or concrete actions to strive towards sustainable development.

Why so? It is simply because our world is driven by economic growth. No countries, especially developed countries want to slow down their growth and lose their competitive advantage for the sake of protecting the environment because that will mean giving up their global leadership. Today, the strongest economy has the most say in the world. 

However much we deliberate on possibilities of win-win situation where we can both be sustainable yet profitable, while they are ideal, they are not applicable in most cases. For example, if we require China to reduce its production of greenhouse and toxic gas, it will mean a great deal of it coal factories are going to be left worthless. More importantly, they will have to sacrifice cheap electricity from coal burning when they upgrade to oil or natural gas. That will result in loss of competitive advantage of cheap manufacturing in China and the engine of growth for China. Why would China want to sacrifice its own growth for the sake of the environment when it can end up benefiting its competitors more than itself?

In harsh words, no country is willing to be the first sucker to sacrifice itself for the greater good of mankind’s future. Unless the entire world is to change together simultaneously, no one is going to start doing it. Yet, when recession strikes, the first to go are always these sustainability plans, just like how Obama decided to withdraw its smog limits because it hurts business. Competitions between countries are stiff and are not likely to change anytime soon, thus the future for sustainability is really bleak in my opinion. Unless we come to a desperation point where the world is truly running out of oil and non-renewable resources, I doubt there will be much progress in sustainable development. 

However, the silver lining is there are alternatives which are not totally sustainable or green but can act as a bridging process. One such example is nuclear. Nuclear is risky and hazardous and naturally, we will want to avoid it. Yet, it is cheap energy and can fuel growth while truly green sources such as solar and wind energy catch up to fully develops its potential.  Nuclear technology is already existent and efficient as compared to other renewable sources, thus a good alternative while we try to salvage the Earth as fast as we can, rather than we wait until the desperation point. 

Furthermore, when a country is over-reliant on nuclear, accidents such as the Fukushima accident will force the government and industry sense of urgency to find reliable alternatives. Thus, I personally believe we should not shy away from nuclear just because it is dangerous because it is a pragmatic approach to creating a sustainable future. Rather than hoping the renewable energy sources can develop quickly, the world should adopt current technologies and start making changes today.