SBL - E- Business

[Music] [Applause] [Music] [Applause] [Music] [Applause] [Music] [Music] [Applause] [Music] [Applause] [Music] [Applause] [Music] [Music] [Applause] [Music] [Applause] [Music] [Applause] [Music] [Music] [Applause] [Music] [Applause] [Music] [Applause] [Music] [Applause] [Music] [Applause] [Music] so [Applause] okay so just in case for those where where we are not here to join and what i was just saying is today we want by all means to i'll then after today's lecture i'll then give you the videos two videos to play the rest of the lectures so that our slammers will be down i don't know the situation though we say we take two and a half months to complete the syllabus this one before this semester i just want two months because i i do have some of the pre-recorded many other lectures which i have taught as well so two months will be after that we have the one month of may revision it is revision which matters it is a vision which boosts your confidence sorry vision actually is the heart of the matter so that's where i want to pivot my attention to so what you see that we want to discuss today something very interesting today we want to discuss something very interesting e-business you can write that e-business these are just brief notes i know i've given you the notes sb or not by mr pratt so these are like explanatory videos a business so we want to do e-business and project management but project management i send it i will send it as a video so it will be e-business project management so project management as you shall notice is a four hour video before our video uh so we can't accommodate it in this lecture so you don't have to play that a video on project management and the one covering corporate governance and the risk it's just another video so our syllabus will be done so last week i did sent you a basil video on performance excellence and there were a lot of concepts in that video like baldrige performance excellence model you know baldrige performance excellence model as you have noticed did that be in that video it was a 20 mark question in september december 2020 2019 20 mark question on that and as you might have noticed in that video we discussed it but still there are other videos which cover revision so when i say the vision we need to have at least 12 hours i am saying 12 hours with your say i also have other video lectures where we did division i will send also those video lectures so in total you may end up having 20 vision hours not now if i send it to a 4 hour vision video which i did with another class clearly it's your video as well because the syllabus is still the same so according to my account i will count that as i have done with you four hours so if i say i need to do with you 12 hours and i as well give you those other videos so in total you may actually end up having 24 hours revision this may alone and there's no way you can get such a deal and there's no way where you after getting such a deal you proceed to fail i'm yet to see one okay e-business uh the the need for e-business especially in this environment cannot be over-emphasized cannot be over-emphasized as for me you'll say i i i i had been you know once the big i've since the beginning of coffee i had since de-platformed my operations to e-business there is no operation of ours which is which is still physical brick and mortar model of business dealings it's all in business so this this this this is the way to go and there's been a pivotal shift on businesses world over to embrace aggressively digitalization the need for digitalization if you are not embracing digitalization you run the risk of being irrelevant in this century you know when we thought that the coffee issues are down are toning down we are actually being bombarded with news of an imminent wave again so this tells you that if you were now being complacent to an extent disregarding the need to embrace a business you are actually facing a a an uptick you are actually facing an uptick as we speak of of of of of of the need to aggressively digitalize and de-platform your your operations from physical landscapes to [Music] from physical landscapes to e-business so allow me just to answer one message here okay okay so what is e-business so like this e-business involves the use of internet infrastructure it involves the use of internet infrastructure to perform business transactions the use of internet infrastructure to undertake business transactions the use of internet infrastructure to perform business transactions all right read this if financial transactions are conducted over the internet when financial transactions are conducted over the internet command when financial transactions are conducted over the internet comma it is known as e-commerce it is known as e-commerce you know when you are conducting financial transactions over the internet we call it e-commerce when financial transactions are conducted over the internet it is known as e-commerce [Music] it is known as e-commerce so what what we are doing here is e-business but if we begin to process financial transactions over the internet like for you to log into our skype you have to pay and you'll be given a passcode like the way you can order goods from europe from amazon from ebay in process payments the way you can pay your acca subscriptions book for exam and stuff that is e-business and as well as e-commerce so which if you are asked which one is part of which is a business part of e-commerce or e-commerce part of e-business clearly you can see that e-commerce is the part of a business all right this e-commerce makes use of electronic data interchange edi ecommerce makes use of electronic data interchange e-commerce makes use of electronic data interchange electronic data interchange that's e-commerce it it does make use of electronic data interchange which is edi so what is electronic data interchange it's you know that platform all that the functionalities on the internet which allow you say to request quotations make payments get invoices on a secure platform we call those electronic data interchange it's a form of business integration where the finance function is embedded in the digital digitalized platform for the business that's that's e-commerce and it's associated electronic data interchange the benefits of doing business online can you imagine your business is whatever it is you must now be embracing e-business and these are the incidental benefits associated with conducting business transactions online which will affect which we refer to as a business you know number one there's cost deduction reduction you know when we are doing business online like what we are doing here we are having lectures online you do notice this monumental reduction in costs make no mistake you may say say there's still data fees and stuff but uh only bare minimum the such cost doesn't compare with the costs you would have been killed if you were actually doing face-to-face businesses for you to get to the college for example you would you'd actually join congested traffic roads these congested roads and it will actually take a lot of your freeway and put together say that amount would exceed the 15 gigabytes of data that you only need for a month to have these particular lectures so there's cost reduction and there's improved capabilities capabilities you know what do we mean by capabilities capabilities is a relative term capabilities you know it implies that you are now able to do what you couldn't do that's what you mean what that's what it means you are now able to do what you could not do through e-business you will be in a position to do what you could not do your ability to save customers in diverse backgrounds is is is largely improved acca is able to teach to deliver quality education globally why is that so because it embrace the e-business and you know nowadays there's a remotely invigilated exam where you can you can enroll for your acca seat for exams complete your acca and get your affiliate and membership certificates without even seeing any acca staff member interacting digitally with the platforms that is attained you can even so that's that's capabilities you know even if you're saying we are able to teach you guys from south africa from some from europe some from zimba you know we are able to teach you but you can actually you can actually see it was not going to be possible in the absence of a business so that's the beauty of e-business another is competitive advantage is boosted competitive advantage what i mean by this uh i have to emphasize there are certain type of customers nowadays who cannot do business with you if you are blinded on the need to digitalize you may lose customers just imagine a situation where you do business you don't even have a whatsapp a facebook account you don't even have a website you don't have email gmail even gmail can you really say you can undertake meaningful businesses if you don't have this in this year is it possible to really undertake to get best customers and being a position to undertake meaningful business though you may still have some business but the degree to which such can be meaningful is me is debatable because when you don't have that you you are competitively disadvantaged you know as for me you say i don't think apart from relatives of course where i don't have a choice i don't think i will associate with a person who doesn't live in every what's up they are all the bare minimum for us to even spend an hour or discuss things i don't think i i can say this is among my circle a person who doesn't even have a whatsapp of course containing relatives i don't have any option i have to but i'm saying it's not it's now no longer possible to even interact under the circumstances i'm sure that it also applies to you how is it you can't tell the person in the face but deep down your heart you know that once i'm done with this person i don't think i will do interact together that's how customers will be also perceiving a customer will ask you what's your email address oh i don't have an email whatever what's up i don't have it what's up so in so which nature of customers then do you think you attract sophisticated customers oh and sophisticated customers and unfortunately are better on attracting and sophisticated customers normally they they they they they they though every customer is the king but in on a customer profiling scale there are customers which we which which which really may not lead you to achieve your mission another is customer convenience is boosted customer convenience that's a benefit of e-business it's boosted you know you boost customer convenience when you're conducting businesses online you guys you agree with me you're learning from the comfort of your own or even from the comfort of your offices you're saying if i can join my lecture once i'm in the office and then around 8 30 i drive home that is convenient if you if you had to drive from wherever your office is to come to town you would actually get to our offices or to the college around say 6 30 yet this lesson the lecture has already started and that is an inconvenience nowadays banks are offering what is called self-service even other traditional service providers like dstv you know people used to queue they used to queue at dstv offices to have their decoders rectified of symbol errors simple errors of system hiccups but nowadays they digitalized you can actually do that from the comfort of your home without even killing a dstv offices banks nowadays there's online banking mobile banking you know especially some banks or even banks in the sub-saharan africa they've taken a huge leap in embracing e-banking platforms where customers can get serviced independently of their location there's what is called independence of location the reason is because a business transforms businesses from splash into space you know a business that it ceases to be a brick and mortar which is place built it becomes space based where it can be accessed by customers independently of your location you can actually access this lecture provided wherever you are the internet so you can access this lecture independent of your location and you can actually learn and complete the syllabus tell you to talk to me about the results etc without even seeing me and that has been the norm since last year 20 we last yet physical lectures 25th of march last year and i don't think we will ever retaliate to that we have since de-platformed our landscape and it's it's it's it's it's it's the benefits of doing that they far outweigh the costs you get that then another benefit of e-business is customer service improves customers meaning the ability to attend to the unique needs of customers customer service improves you know you are you need to understand what is customer service you are serving a customer you know a bank cf that you know being a desk which is called customer service desk others call it information desk or whatever the technology they use they point to that type of information every customer has got what is called unique or best spock need so what you then have to do is to customize your offerings to the unique needs of customers and it is better done when you embrace a business when you embrace a business it's better done that way meaning unique needs of customers are addressed so these are main benefits of e-business you know all right um write this a alright is submitting disruptive technologies disruptive technologies technologies you know the the field of e-business is associated with disruptive technologies i i need to to bring this to the i need to bring this now before i even eventually match into our discussion disruptive technologies you know when you are running your businesses online there's an element of disruptive technologies you know these are technologies you know you know businesses are either in their comfort zone or on transition or are on established unique selling points we we we do have a situation where technologies change and the manner in which technologies change is that technology change at an aggressive pace by aggressive pace i'm saying it takes no prisoners the only way we have to survive in the face of technological change is by aggressive embrace of those technologies failure to do that they can force closures of businesses and such technologies are called disruptive technologies covered or not covered these technologies they've always been there you know there was a time when pastel accounting was introduced to the extent that others had to lose jobs if they failed to embrace pastel accounting so all technologies at their stadium they start being disruptive for example when you are having lectures online like this if you don't have these lectures you may you may actually be thrown out of business not because things are tough but because you are not embracing technology that's how they they they they they change or violate the status quo we call this oh sir may you guys mute okay we call these disruptive technologies okay so what are if you may ask say what are disruptive technologies like this these are technologies which are technologies you know these are this is what makes technology a disruptive technology number one this place is marketly leaders displaces market leaders and establishes new ones publishes new ones no now let me explain what i'm saying by this you know the global supermarkets those supermarkets which were globally deemed large like walmart tesco publix you know those are huge supermarkets make no mistake they could have a parking space which is half the size of our city center here in that could be their parking space that's how huge walmart stores are but nowadays coffee has resulted in the proliferation of mobile or online shops through the smartphone technology nowadays there's online shops where instead of you going to walmart to buy you can buy on on using your smartphone in the comfort of your bed and you can get your goods delivered now can you imagine how transformational such technologies now bring to the retail landscape so those businesses which were known by their closeness to markets or their branch presence or brand awareness with physical brick-and-mortar branches distributed all over they extend the risk of not enjoying the intended benefits because other technologies they are just putting all shops online all shops online so where customers can actually buy online and get groups delivered that's disruptive technologies you know if you had brilliant motor stores shops or even brick and mortar colleges is atlanta resources we might not have been known by now but through internet our presence has been greatly amplified and you notice that we are people are now talking about us those we we who we could never have imagined that they could be talking about athletes they will be calling us why is that so the embrace of these digital e-learning landscapes the men in which we were supposed to embrace them they were in a disruptive fashion we were left with no choice you know if it's a disruptive fashion it means it's either embraced or you're gone the businesses are also shouting or closing shops or you know they are facing a lot of challenges because of this technology so it's so important that businesses also embrace disruptive technology and so this is the feature another is it violates existing value chains violates existing value chains it violates existing value chains uh and create new ones and create new ones you know often you used it to say if you want to write an acc them you would book it and ask them where the venue is and they would arrange where to so in other words you do you interact with local offices to get information about where you can write an exam and do quite a lot of things that was in an established value chain so acc would set up regional centers and the regional centers would then negotiate with government to for the venues and other stakeholders and then students would be told which venues to sit for the exam so it was that was the value chain from the provider to the local office to the student but can you imagine now with the era of remotely invigilated exam you can actually register for acca after registering you can even write an exam without even going to a local acca office and just say i'm just using the examples where you can relate it's not just that example even they established the value chain where you would buy raw materials in brazil you have them processed in china let the goods be sold to europe that was the traditional supply chains it's you can eat business now has greatly improved increased what is called supply chain risk the chance for business is interacting directly with customers and therefore removing the intermediate the intermediaries that were in existence so by disruptive technologies what we are saying is it may result in d disintermediation in the mediation re-intermediation it means nothing this intermediation and re-intermediation you know these are some of the things that disruptive technologies bring nowadays you can shop online if if i wanted to know where can i buy these books before a business i would go to town move shop by shop or call shop by shop to inquire do they have a particular version of the book and stuff nowadays i can just shop that book on amazon or on google meaning there's no more need for intermediaries you know we we used to have companies where a company would be established and that company would be selling will be a travel agent for fly emirates so if you want to if you want to to buy fly emirates tickets for example you'd go to the travel agent to book and get flight to get tickets and stuff that was the business model so that was the value chain so fly emirates would give these guys commission who are selling the tickets their tickets and stuff and they would make money and they would be a company formed for the purpose that was the value chain on supply chain that was in place but nowadays you do notice uh you can actually buy a ticket online you can buy a ticket online without even going to the urgent which sells fly emily ticket so i've said it violates some value chains of value networks the proper term to use let's say value networks together so the existing intermediaries are being removed and firms are increasingly interacting with customers and that process is called disintermediation and there is increasing trend for reintermediation in other words introduce introduction of non-conventional intermediaries mercedes-benz would have shown all over the world if they are bringing a new mech they would actually have shown to say oh this is a show where they display messages been so those who wanted to test the driving team they would go to the showroom and and be given necessary information about how to test to drive it how to do that how to do that what are these features and performance and quality attributes you'll be told a lot of a lot of stuff but nowadays all that has been disintermediated and it is now re-intermediate you can actually get all that on google there's now youtube those are now new showrooms not the brick and mortar showrooms you used to hear you can google it up what is the latest memory for toyota you can google it up you can actually be told how it performs even on youtube can you imagine these are disruptive technologies another disruptive another attribute of disruptive technology is that it's you know i said it displaces market leaders and create new ones it evaluates existing value networks it's they make the existing business model less competitive such technologies they make existing business models less competitive unless they are embraced they make existing business models less competitive competitive unless they are embraced they are impressed you do you understand what what what i mean what i mean by that if we are still continuing as a bank and say i don't want to save customers by embracing online or mobile banking i still want my customers to come to the bank and make an effort and queue up for them to access the services that the bank is offering if you are still doing that as a bank you run the risk of not having any customers you know that's what disruptive technologies do if your existing model doesn't embrace them chances are you'll be driven out of business existing business models need to be modified through disrupt whenever there's disruptive technologies we were all having fun teaching face to face nobody was complaining but convinced brought about the need for these described we didn't even know about this zoom so can you imagine if we said i know there's no need for that we still revert back to face to face we will we don't have any student by now that's what disruptive technologies do your existing business model is on the line should you fail to embrace disruptive technologies so you can write and be destructive technologies when embraced and aggressively i mean disruptive technologies when aggressively embraced when aggressively aggressively impressed coma they become they become sustaining technologies they become sustaining technologies this one i want you to understand this part the embrace of disruptive technologies is not is not as when you see treat for you to actually take advantage of disruptive technologies you should not wait until waters have been calmed so that you scare me magic to say ah because we because covered lock down let us not teach until the government opens colleges and then we begin to teach under the circumstances by that time would be out of business your overhead cost bill may actually out overwhelm you you may be overwhelmed to the extent that you may not be able to break even by then so disruptive technologies need to be aggressively embraced you know i used to see people selling their ways online quite a lot of people would put state at their status whatsapp status selling a lot of people a lot of things but once coffee lockdowns are being relaxed every i'm seeing there's a nose dive in direct in the present which people were selling things online this shows you that the your the embrace that you had on disruptive technologies was just was not aggressive enough what does aggressive means aggressive means when you are embracing disruptive technologies they require you to start on a clean sheet of paper they start they they require you to deep platform in other words seize your existing models business models and try by all means that you embrace disruptive technologies actually let disruptive technologies be the guide as to how you are going to do business going forward otherwise it won't be sustainable now the beauty of embracing disruptive technologies though painful in the short term students who say oh no we don't have data say we don't have we don't we don't have laptops we don't have uh smartphones how can we attend lectures these are short term inconveniences but if you embrace it aggressively give it time they become sustaining technologies what are sustaining technology these announcers technologies which can now enable so all technologies at their infancy or in their stadium they start being disruptive can you imagine if someone created an aeroplane and you were busy in the you were in the business of having ships people used to have ships to cross oceans intercontinentally and then someone said that we can actually solve this problem with an aeroplane so back then it was disruptive technologies meaning it was so disruptive that people you would not travel via ships again but nowadays isn't airplane technology now a sustaining technology it's now part and par parcel of the commercial and business and individual and social fabric on how to travel this year was with pastel accounting when it was introduced your or any computerized accounting system when he introduced it would pose serious challenges to the existing labor force into the existing model of discharging such a particular function but once you embrace it nowadays it's a sustaining technology no one can view pastel accounting in a negative light that's how business that's how disruptive technologies are disruptive technology so i've discussed about this so these are like issues which will come across when you are dealing with e-business another is another is big data right that is disappearing big data right this this is data which is highly voluminous this is data which is highly voluminous data which is highly voluminous high variety high variety and high velocity this is what we call big data it's a data which are which is the high volume high variety in the high velocity so important we call these three v's which makes use of big data so like these big data platforms include big data platforms smartphones include platforms include you know the world wide web world wide web you know it's not the worldwide world social media sites social media sites uh the things like search engine search engines these are big data platforms search engines for eg google [Music] you know quite a lot in china they have their own search engines with funny funny names so all these are big data platforms they are big data platforms so what do we mean by big data is data which is highly voluminous if you if you if you can close your eyes and think of the level amount of data which is on facebook that tells you that that search is a big data platform it's data which is high variety can you imagine the various data which makes up the facebook content variety means such data arises from a variety of sources different sources so that on facebook is is quite is quite different it's it's it comes from a lot of those can you imagine the amount of data which is on google if any if you need anything you say can you google it up it's it is from variety of sources and then velocity velocity means big data changes hands at a very high pace it transmits it is transmitted at a very high pace to the extent to which it is at times described as viral you know if you make something silly nowadays it goes viral be it on whatsapp on facebook on any other social media platform this tells you that big data is viral to the extent that it has got a high velocity or it changes the end at a very high pace to the extent of being described as viral meaning unmitigated transmission that's what it means when something is viral you can't put a stop to it you can't put a stop to it so so so you know there there's an instance where after we we we tell you what big data is you are then tempted to say no let me now open my face and let me now open my facebook account and begin to market my things on facebook i have you had the characteristics of it that we say desire follow my variety and i velocity meaning big data on itself is of no use to you we have people who are busy posting things on facebook and you don't unlock value to the film as a result this does not mean people don't buy things on facebook but because you are failing to understand that facebook is just a big data platform as a company to make meaningful decisions from big data platform you need what is called big data analytics write this big data on its own is of no use to management decision making big data on its own is of no use to management decision making is of no use to management decision making like this there is need to have big data analytics they need to have big data analytics software this need to have big data analytics software there is need to have big data analytics software big data analytics software which which is which integrates the big data platform to defense digital which integrates the big data which integrates big data with defense digital platform with the fence digital platform for management decision making which integrates the which indeed which integrates big data to the firm's digital platform and provides insights for management decision making and provide insights for management decision making for management decision making and provide insights for management decision making right right so so if you have posted something on facebook and you want to know how it is failing you need not to just have it like that you need to integrate it on the big data platform you need to integrate it with i mean you need to integrate it with big data analytics software it's a software you can actually buy it if so what what are the what what does the software do so if you have got a website let's say we have a website at lens resources i'm not opening a i'm not opening on the i'm not opening using the admin panel i'm just opening the as a user i the the admin panel are with the administration the admin configurations are with administration now take for example this is this website here it's suppose you are you are busy you are busy surfing the website in their busy surfing atlantic resources this website on its own it's it's a platform it's on it's on the world wide web i mean it's our account but we we we do we do offer a variety of services and amongst these services we we have integrated it with big data platforms like facebook on the right there twitter linkedin because i i haven't opened it as an admin i just want you to show us to show you something what it means is if we if we offer all these services archives and cfa and stuff all these listed here if there is any discussion on facebook containing any of these they will be reported but it can only be accessed without me because there is a big data analytics software which if you are an admin panel if you are not mean of this website you can access it and that particular software helps at means to know what is it that students are talking about nowadays if we are to market or to offer a a flyer or to come up with a flyer or a marketing communication how can we make it sophisticated to appeal to the customers of the day you can get that from from the big data analytics software so if you have got a facebook account and you want to if you do have a facebook account and you want to make sure that your whatever you are marketing on facebook is bringing you value there are various ways of doing it and one of them is don't just post on facebook when you think that you get meaningful results by virtue of posting alone you need to pay facebook to sponsor your post you know when facebook is saying pay or boost whatever you have posted they have they have what are known as big data analytics softwares once you boost your advert this software now will query the entire facebook community according to your configurations if you say southern africa it will query the entire facebook community in southern africa to pick conversations about what you have posted and you'll be getting reports so if it's a year saloon you have you are marketing about hair salon and you're saying you offer this the analytics software will actually have those is buzz words as key ways it will have those keywords and give you reports on where are people talking about yes what is their age what is their gender where are they located and for how long have they been talking about your about this so you can profile the engagement of of your advert that you have placed on the big data platform and if you can then make meaningful management decisions you get that and you make use of big data analytics software so what is that you can you can just boost your post on facebook there's those softwares or you can buy it yourself in as much as you buy antivirus software you can go to a software vendor and buy big data analytics software once you have that software you then integrate it with your big data platform your digital platform like this website is our digital platform and big data platforms are facebook twitter linkedin for example so the software will integrate whatever is being spoken on facebook twitter or linkedin which we are offering on our digital platform in other words which we are offering on our facebook on our website so that if you are if you have to open it now on the admin panel i can't open it here because i opened as a user if i'm to open it on the admin panel you'll be amazed with the amount of data which this website is collecting you'll be amazed and that data then helps us to say if we if we want to introduce another course or we want to hire new teachers or we want to add to pivot our resource allocation towards a particular line of business or segment all that is there for us to view through big data analytics software so it's so important so don't just post things on whatsapp post things on facebook and think you'll get more results or you can unlock value from that you will need to escalate it a little bit by embracing big data analytics software which integrates your digital platform in this case website to the big data platform in this case facebook twitter and i'm just showing you what i've opened there's a lot we can do with this are you getting it remember your subject is called the strategic business leader without showing you how it is actually that you know there was a paper it should be september december 26 2019 where the examiner just printed as a a picture of the film's website and the question was how can it be improved how can it be it was september how can it be improved can you imagine a website like this was pictured and it was one of the exhibits and the question was how can it be improved and there were 12 marks allocated i shall teach you that part later but i want you to notice strategy business leader is not taught in isolation so when you are reading text books you won't be able to see this to actually practice to bring what you're learning into practical sense so that you can communicate to to directors okay so write this insight provided by big data analytics helps managers to insights provide a produced by big data analytics insights produced by big data analytics software yops managers too yops managers too number one identify trains in the market you can you can be in a position to identify trains in the market that is the some of the most point that's how we can make use of big data so if the question says how can you make you so big that you would say we make use of big data by having big data analytics which then provide a big data analytics you know they analyze information on the big data and provide the insights and these insights are what we then use as management to identify trends in the market you know there are various trends in the market trends even fashion trends you can you can if you are into fashion or clothes designing or auto motor vehicle manufacturing you can know the trends which customers want so if you are tesla you can put you can put your vehicle which is which is driverless auto driven you can post it on youtube on facebook and integrate that with your big data analytics software so the software will tell you how many people are liking this particular car what is their age range what is their gender and where are they located geographically no wonder why you do notice their instances when if apple produces a new iphone they will launch it in singapore yet airport is headquarters in in in america if you wondered why is that the case they they are producing a new iphone but they make you know an official launch of the iphone in singapore but you do notice be prior to its official launch it will be marketed on various big data platforms they will be generating intelligence to know where are we capable of having a greater ch so you do notice that on initial launch they go there with 200 units 200 000 units and if they sell it will be sold all of them for two thousand or they will they can go there with two million units they will be sold in a space of two hours for two thousand dollars and before you know it they've got four billion in revenue within 54 hours of launch and how were they so successful it's because when they were launching an advert where they were advertising iphone the new iphone on big data platforms they had big data analytics which was running around corporately gathering information so that when they know when to launch when to launch or even to locate therefore of it it was going to be effective is so so another point is it helps the firm helps the film run sophisticated sophisticated sophisticated or bespoke marketing campaigns best part marketing campaigns jobs defend to run sophisticated or best popped marketing campaigns you know that if you then you have to you know by best part we mean customized we have issues with bespoke it means customized marketing campaigns marketing campaigns which are customer specific and which are effective which in which you are guaranteed of the greatest edge you can yet you can have what you intended to hear number three predict changes summer tests and preferences changes in consumer differences these are the benefits of big data platforms they help you to predict changes in consumer tests and preferences another is another is you know when you have these analytics you make better locational decisions make better locational occasional decisions you know saying it helps you to supposed to say to run sophisticated marketing campaigns we are saying if big data analytics can tell you that those who are supporting your t-shirt the t-shirt you have designed are mostly located in zimbabwe they mostly support arsenal in their age ranges like this so it profiles customers like that so you you you can then if you have to market you now have background information so you can now market it better even location where are they you can't just be saying my my my facebook post is good 16 likes you know that's what we always hear how many likes did your facebook post yet it had 100 likes where are those they are in canada where are you you're in zimbabwe but do you even have a clue of where those guys are for you you only have knowledge that it is 16 likes so what it then means is you lack insight or you have it it has 16 likes but you cannot tell where were those people who were liking it what was their age group or income level indications and their preferences and even the time they were engaged on your post you don't even know that so you need the additional information to know that no wonder why we we either encourage you either to pay facebook to sponsor your advert or your offering or even to buy big data analytics software but that element of buying big data analytics software might be costly to you you will then have to do it the cheaper way like just paying 10 dollars to facebook it then sends you reports and the reports will be more informative to you now for decision making right and and if you anticipate trends in the market or changes in customer tests you make what is called better product offerings better product offerings big data removes that that element of saying customers are no longer making repeat purchases you you you offer as product to customer but a customer next time buys to another supplier and you don't know why now big data analytics they tell you where actually is the trend shifting towards so that you know in advance to change your product often you know in advance two to two so if you have got if you have got big data analytics you know insights inside now inside of the firm helps the film to offer superior service to customers yo the firm helps the firm to offer superior service to customers service to custom i like this part because if you can identify trains and you can predict changes in other words you are able to beat the market you are able to to to offer good deals to customers ahead of your competitors that's big data analytics okay so what am i saying guys i'm teaching managers you know you can see my language is not meant for students no wonder why is acc this subject is a strategic business leader is not a student of strategic business leader meaning after we have taught you what our expectation is you can now from this lecture you can enter into any multinational cooperation and begin to function various ways you can function you the this angle looks at big data right another aspect you know we are just this this is a business we are just discussing the common terms involved in the common concepts which a business involves because we have people who say look i don't know what's happening i have my youtube account i load things on youtube but there's no view i have my facebook account i load things on facebook but there's no view no no it's an element of big data so even if you see me posting something on facebook don't think you will be checking on facebook to see what is happening no they are guys who run our social media platforms so if they stream like they stream a video everything is checked here it is on the back office of this particular digital platform which is our website where we get insight we don't even bother whether the first book has been liked or not if anyone just passes through and takes five seconds looking at our video that alone is enough because we have got insights which are to third degree we purchase the insights to third degree what what does third degree mean it tells us we'll spend two seconds viewing even if you don't click like if in as much as you just spend two seconds if you win it tells us your your location it tells us your friends that's the first degree your your immediate friends and it tells us the friends of your friends that become second degree and the friends of their friends that becomes the third degree but for you to get to such degrees you pay but believe you me there's wealth of analytics which we then get so that we don't even struggle to say how do we how are we supposed to wait our next advent how are we supposed to make sure our advent great get the greatest appeal but if you don't have such you then say oh well because nobody is like you know even if someone is not liked your facebook post your youtube post but remember they view it don't they make no mistake they view it but they may just view it for three seconds but in the absence of analytics you can't capture that interest that interest for three seconds so you'll be saying oh well it's not possible to unlock value through facebook because you are lacking engagement time and that is solved you can only get that by analytics those are what we are referring to as insights notice i am now saying our sum of our secrets let me not say much of our secrets let me continue doing the lecture but i'm using our examples the webs our website because it's the website that i i always play with you know we we pay people to italy i i don't under why i don't have administration rights for it it's with the administrator okay so that's about big data and now another discussion item is marketing functions which internet can perform marketing functions which internet can perform marketing functions which internet can perform generically we call it e-marketing this is called nowadays e-marketing it's no longer like a business you you need also to have e-marketing e-marketing platforms you can see actually that's in-marketing the website i'm opening marketing quite a lot of things can be displayed here quite a lot even testimonials these are like testimonies where you can post your testimonials and these are like these are like you can even what up what what what happens if you click what's up yeah suppose you're just a user you can click what's up notice it has already taken me to my whatsapp but because i'm the same person it may have it it takes you to our whatsapp that's an engagement mechanism that we have you can whatsapp us now and quite a lot of things that you can do here but let me bring it up to let me bring it in a logical fashion marketing marketing functions which internet can perform you know internet can actually perform a lot of functions but you know that marketing marketing makes marketing actually comprises of people ah you know marketing mix it comprises of product price of product plus a price a promotion promotion people processes and physical evidence these are the marketing mix concepts marketing mix elements physical evidence so product place promotion etc so these are the we call these marketing mix elements these are marketing mix elements and now how does e marketing then affect all these that's that these are the marketing functions which internet can perform like class becomes space plus becomes your writing plus becomes a space through independence of location through independence of location of location this is what is called independence of location you are now able to access me it you used to come to town where exactly are you based in town we would then tell you our address where exactly are you based but nowadays place becomes the space that's what internet can do we have some of you who have never seen me and you will not you won't see me physically even i don't know when even if it means forever all right so place becomes the space through independence of location and then another element which is number two is its uh processes and people you can join some of these processes processes and people processes and people can be automated can be automated on defense digital platform automated on the firm's digital platform you know the digital platform is whatever you are using to interact with customers digitally like skype this type of account that i have it's my digital platform and the one you have it's also your digital platform we are using that to interact if it's a website it's again a digital platform can be automated on the firm's digital platform three quite a lot of things there you know why why what do what do i mean when i'm saying you know nowadays nowadays there's quite a lot if if place in the space and processes how we teach how we go about it let me open acca website as well to complement our website that we have there saddam again again because the acca website you always open it so you do notice that there's quite a lot in the acca website quite a lot all these things used to involve people like if you want to register for acc you used to visit acca and then after visiting acca you would then be instructed or not but nowadays look make make plan or book exams you can just click here and you already need everything is now automated make payment you can you can you can just do that without even calling anyone do it yourself and i do not think they also have social media plugins because this one is their digital platform the social media plugins are the big data platforms and they they've got analytics softwares which will be telling them quite a lot you know they know quite a lot these guys actually when it comes to these you know we we i we we developed our website also after learning of all these you know that's how ncca can empower on our lives this website we didn't have it but after knowing that there is this which we are teaching there was nothing which could stop us from having ours you get it so we when i'm evaluating my website like this i don't just evaluate i go to acc website look at how they're doing it if i see this need for change i just instructed the guys to say look i need a website to perform a b c d and already they are in it so you can't tell that secret you need you need to wait until your business can change no what they teach you is what they do so you in other words they teach practical steps to achieve performance excellence this is what we employ you to do as well as we are teaching you strategic business leader so there is now frequently asked the questions you know there's the open support now the open support about a search for jobs this this these other websites they've got a table for frequently asked questions where you can actually see it closely i'm sure acca is it only that i'm in a rush but if i look if if i'm to open every every tab here i will still come across frequently asked the question all these are things which would in in time past require you to visit offices but now the processes have been automated the processes have been greatly automated you get that and then a product product defense website the firm's website by by saying website i'm simply referring to any digital platform any dp digital platform helps the firm helps it properly to properly detail or to properly profile product is productive features his advantages and benefits we call this fab analysis to marketing it's called fog features advantages and benefits now what do i mean by this what do i mean by this listen if we are to call acca now and ask them a simple question like like what what is it acca doing containing sustainability containing sustainability and stuff they don't even know you call acca uk and ask them you'll be shocked that the person in the front office doesn't even know but does it really mean acca doesn't know no they know but what is happening is they will refer you to website so in the website there is a there is a there is a scholarly material and professional material here like rethinking sustainable businesses this is properly detailed in a manner that if you were to call them they won't be able no person will be able to tell you this wait for word so this tells you that if you put things on the website you take your time to detail because people who view websites in their leisure if i'm a student i want to know tuition and study options study support resources exams practical experience ethics and professional skills module student accountant i want to know all it throws to well-being i can't call acca for that because you'll be disappointed to know that the person who answers the code doesn't even know this so do you then conclude that because the person who answered the code doesn't need no it's because they have embraced the e-business all that information is now properly profiled on their digital platform in this case on this website where would you get learning providers everything is there everything is the employers what are how you can post your facebook yours you see re cv here and scc i can even help you with recruitment so all this is is given here so that is called fun you know it happens that if you like at least even if you have to ask me what is it that we do in greater detail i mean i might not even know but if i refer you to your to our website you know now you can click on everything here when it comes to exam coaching click on everything here resources everything here but for you to access some of these things you need to register here to to subscribe you may not access some of this stuff i should i shall show you shortly why the need for subscription why didn't it even for acc they set an information you don't get abs after until you apply apply now start with acca log into my account apply now so it tells you that there are certain things you can't access from acc unless you are within their database but if you apply the information they require you to apply and now they have got facebook plug-ins and linkedin plug-ins they may be able through their big data analytics to access what are your areas of interest and even your associates what do they require and this they don't access it like exactly from your they they saw the analytics he helps them to now gather that information for their broader in the strategic decision making and to that extent no wonder why acca offers superior tuition over others though as you say i'm not allowed to to do that because remember we both are both acca and sima as you are seeing it here but because i'm teaching acca in this lecture let me sign with acca it makes logical sense okay so so continuing um when i'm teaching sima you you also see me praising sima in in that context as well what else do we have so so i said this what is called features ben advantages and benefits now these advantages that doesn't mean benefit so i have my phone here for example i have my phone here with my phone here if i'm asked what are the features of the phone the features of the phone is like it has got whatever megapixel camera it has got this particular memory it just got water resistant features it is a battery life and stuff so these are features and then benefits of the phone is what the phone can do benefits i mean advantages is what the phone can do like i can take pictures wherever i am i can store and record those pictures i can call i can text i can have a whatsapp on my phone these are now called advantages of having this phone now what are the benefits of having this one the benefits is what i become by exploiting the advantages so the what i become by exploiting advantages you know it's quite a lot i can now go anyway i i need not worry myself because everything is digitally stored because the memory is huge there's no need for me to buy a memory card and stuff these are now benefits but if you go into any those who sell this phone and ask them guys i want to buy this phone can you tell me its features advantages and benefits you do notice the cup the person code can go on mute does this really means the person doesn't know it's because the person is still using physical platforms you might not know everything unless you have digitalized your landscapes by digitalizing meaning transforming it into a business you are not able to detail to take your time properly writing everything and be built about e-businesses you can properly writing everything under different menu items if you want one you write everything under home if you want background under background if you want consultants under consultants if you want this under this if you want this and that so that's the beauty of that's the beauty of what digitalizing it you take your time and customers can actually get everything they want another is price you know but but but but you know when you are listing the product features and benefits don't lie you know when it comes to e-business don't lie we don't want a situation where you lie because lying is nothing lying is not a good thing you know when it comes to e-business most businesses they tend you know i remember at one point there was a lotion a type of oil where they were advertising it is saying you look 10 years younger if you apply that lawsuit you would look 10 years young i bought that you know as you say i wouldn't want to grow old just like that so i wanted also to look 10 years younger but they couldn't profile it nicely like that issue of saying this particular lotion it requires other oils and stuff so you don't apply it as a single product but there's a composite but i didn't know all that so i applied it as a single product and before i know it oh my face was displaying symptoms of good but you know the goodbye symptoms way of face is having lingus and mitigated these are the dangers these are the dangers of e-business people display things on internet which they don't have they display things on internet which is marked by a lot of misrepresentation imagine a situation imagine what would happen if there was a dating you know other dating sites people are being are being deep you know they are they are being ushered into what is called a romantic crowd when the picture is saying something but the person is a different person and a name given to that is called romantic front and it's it's a symptom of e dating so that's what all that's what most businesses do they say they sell chicken and they downloaded the picture for chicken which they don't have and you say look i need 10 beds of this side only to get the chocolate for life when the beds come so when you're marketing things on internet there's a concept which is called net tickets the acceptable conduct ethical conduct when you're marketing goods on internet you need to understand the target audience make sure that your product is profiled which is consistent with target audience legally and ethically you know legally and ethically and also make sure that you're not lying you're not lying like that example which i've just given you away i was told to buy lotion which they said it would make me look with 10 years younger only to get the shock of my life when i was approaching century on proportions so that's not that's something that's not a good deal from a business now price you know website i mean like this website allows it allows me to prices competitor prices and charge the correct price the correct price as well as as well as to enchance the correct price as well as allowing customers to shop around the glacier allowing customers customers to shop around around and compare prices at leisure pay prices malaysia now what i want you to notice this i'm coming back to the element of netiquette i'm coming back to the element of netiquette the the good ethical conduct when you're dealing when you're when you're selling whatever you're selling online there's an element of netiquette if you are advertising something online and there is a price attached make sure make sure you don't change that price make sure you don't change that price it's so important you know what when you're selling something online there's a tendency of people to think that it's fake even for you to join for these online lectures it was a courageous decision off the top of your mind when you're shopping online there's an unconscious command that they might be an element of these things being fake there's an element of whatever you're doing being fake it's there and it's natural it's normal but so if i call you and say how much are you selling your potatoes suppose your advertise your potatoes and say i sell them in 12 dollars a packet and then i asked i saw the price on the internet and then on facebook and then i called how much emma are you selling your potatoes and then you say 13 when you have advertised them is 12 from that moment onwards you are being viewed as fake you are actually exacerbating the already preconceived ideas customers off the top of their head they normally view online businesses as fake businesses because it's a transitional it's a transition phase and unfortunately it takes long unfortunately it takes long so when you sell something online don't do this online please never give a discount on something you're selling online never negotiate a discount online over the phone unless it's actually documented on your digital platform that a discount of so much exists but if not don't give discount online the reason is if you then proceed and give discount online you are actually wasting this situation the customers already they thought that the price was not ideal this thing you don't have that is what is taught by a customer when shopping online and then you begin to say something which is priced at 20 i can i can sell it to you at 10. by doing so you are already confirming what the customer was thinking and you are in danger of not getting any older you are not you are in danger of not getting any older are you getting it so perfect is stuff there that we are talking about and now and now uh so where was i you know i i like practical things so i was saying eb website allows the customers to come at this frame to co to scan for competitor price and charge the current price as well as allowing customers to shop around the glacier then number six number five there is uh there is physical evidence there is promotion promotion you know you know promotional activities such as advertising you know website can actually have promotion activities such as advertising advertising first promotion sales promo etc can be undertaken on or digitally can be undertaken digitally undertaken if you buy quite a lot you may be given discount coupons suppose you are buying kaplanic books they can say if you buy two books you'll be given a a discount coupon which is a code number which you can use to buy addition

2021-06-04 00:43

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