This course will act as the culmination of the Specialization: International Marketing & Cross Industry Growth. The aim is to help you apply what you have learned during the 16 weeks of the 5 courses and conduct an "action learning" project that will consist of the following: 1. Situation Analysis for their chosen company or brand. 2. Marketing Mix Analysis for their chosen company or brand. 3. Cross Country Innovation Plan when expanding abroad. 4. Cross Industry Innovation Plan when sourcing ideas or expanding into another industry. All of these analyses will have templates that will be explained in the video lectures using an exemplar case, "Yuhan Kimberly." You will be required to choose a company on which these analyses will be performed. As such, the intent will be to provide you an integrated set of insights and application to a chosen managerial situation and problems at hand in the context of a specific region or country. You will be required to also choose another industry (from the ones covered in the Specialization: B2C, B2B, Healthcare, Hospitality, Entertainment, Sports) when developing your Cross Industry Innovation Plan. For example, if you work for a company in the Healthcare industry and have analyzed that company, you should then conduct a Cross Industry Innovation project using concepts from a different industry such as Entertainment.
Expert Interview with Lorenzo Swank, CEO Pixio
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Do curso por Yonsei University
International Marketing & Cross Industry Growth Capstone Project
12 classificações
Yonsei University
12 classificações
Curso 6 de 6 em Specialization International Marketing & Cross Industry Growth
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Introduction to Capstone and Guidelines Using Exemplar Case
This is the beginning of the Capstone for the Specialization: International Marketing & Cross Industry Growth. You will become acquainted with an exemplar company Yuhan Kimberly both via a case and a video lecture, and then be provided specific guidelines on how to reference the case to complete your individual capstone projects.
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Dae Ryun ChangProfessor of Marketing
School of Business
Learners, I'm happy to be joined by Lorenzo Swank.
Lorenzo, good to see you again.
>> Pleased to be here.
>> For the benefit of our learners, can you please introduce yourself?
>> As you said, my name is Lorenzo Swank.
I started a software mobile consulting company about ten years ago called Fixio.
We've taken a lot of time to polish our craft and
then use the tools that we have to be able to help other people in other fields
make quantum leaps in what they're doing.
>> Very good.
I'm sure you know that this course is about both cross country as well and
cross industry innovation.
So let me start off by asking you why you think cross industry innovation is
soimportant nowadays?
>> It's really for me about whether we make a mere
evolutionary leap or a revolutionary leap in whatever it is we're doing.
Are we going to add another 8GB of ram to our new smart phone?
Or are we going to come up with a concept that people think
this isn't the smartphone I knew before.
This is amazing.
It enables me to do so many more things.
>> So to be revolutionary then, that is where you have to outsource
from outside the industry.
>> This gives you the opportunity to fertilize your own field or
pollinate your own field with material from other industries.
That's the best way I think I could describe it.
>> Okay, understood, can you give us some examples?
>> I think one of the most shining examples that we've seen in the last
few years has been telemedicine.
>> Okay.
>> And I don't just mean telemedicine where doctors
are operating by remote control, and by robot.
Some of that's actually pretty scary still, at this point.
But I mean the idea that you can pull your smart phone out in the United States,
push a button and be conversing with your doctor one on one.
You don't have to go to the clinic and
they can take care of getting you a prescription right there.
Or if they really need, you can come into the office.
This isn't something that was possible five years ago,
this isn't something that was possible ten years ago.
This is amazing.
>> Fantastic example.
Okay, what is the procedure, if you can call it that,
that you follow when you are outsourcing solutions
from another industry?
>> We're a little special,
I think, in that people often come to us with an idea that they already have.
We're in such and such field, we want to solve this problem, and
we're going to solve it in this way.
And so when someone comes to us like that, often times,
they don't have the same depth of experience with the technology as we do.
And so they're coming to us saying, please be our consultants.
The first thing we need to do is go back and look at their assumptions.
We try and find out what's the problem they are really trying to solve?
And does the solution they propose fit that solution or
is it simply adding unnecessary layers on top of what they want to do?
>> Okay, so we were talking about outsourcing from other industries.
And the industries that we have covered and the specialization, or
b to c marketing, e to d marketing, hospitality,
healthcare, sports and entertainment.
So as you can see they are in some cases somewhat related, but in others, not.
So based on your experience,
what are the benefits of bench marking related for similar industries?
But also during the same thing for really different of what.
>> Similar industries do provide a more easy or
relate to source of inspiration if you will.
>> Okay. >> So,
I know this isn't one of your target fields but mining.
>> Okay, mining?
>> A lot of our clients, surprisingly, are in mining.
>> Okay.
>> And so if a mining company wants to do something in particular
way, >> Yeah.
>> Then we might be able to take that and
go from the gold mining area to the mineral mining area.
>> RIght.
>> A lot of these people have,
a lot of these fields have huge overlap particularly in safety.
>> Okay.
>> And so we could take those things from these related fields and
move just a little bit over to the side in construction.
>> So just to, sorry for interrupting, what do you mentioned before,
the assumptions usually hold true then?
If they're similar.
>> If they're similar most of the assumptions will hold true, but
also remember that each business is often very much siloed.
So, you will have human resources in any large business, and
you'll have operations in any large business.
The specifics are different.
>> Okay >> The specifics,
the details are of course very different.
>> But the general assumptions are similar.
>> But the general assumptions often hold, surprisingly well.
>> Okay. And conversely then, what
are the limitations of bench marking similar industry, and
therefore which encourages you to go really Into far flung industries,
to learn new things.
>> There is a difficulty where you might be trying to force a fit.
And this is a great in the smartphone industry to see.
I love the book The Best Interface Is No Interface.
They use the example In the book of unlocking your car.
And is this something that you need a smartphone application to do?
Whereas, you can just take your key out of your pocket, stick it in the hole,
turn it and open the door.
Is it really an improvement to have six or seven screens and
the process of taking your phone out of your pocket.
It's not.
And when initially companies want to try and do this, they said it's a smartphone.
Everyone has sa smart phone.
You don't have to carry your keys.
But it made people's life more difficult.
>> Okay, you mentioned before the need to assess your assumptions and
in a belated thing to define the problem,
why is that such an important first step, defining your problem?
>> If you're not solving the right problem then, again,
you're force fitting something where it can't go.
You're not improving someone's life.
You're not creating an operational efficiency or
you are not creating that necessary quantum leap,
that revolutionary next step that you really want to deliver to your customers.
>> And so the problem definition, does that hold true for
every situation or does that problem have to be redefined?
>> Most often we find because people are such specialists in their own fields,
that when they go to borrow something from another field
they need to be holding hands with someone in that field.
It needs to be a discussion, it is a collaborative effort.
Trying to do this on your own on the large scale is,
I don't want to say it's folly, but certainly fraught with peril.
It is definitely difficult.
>> So the way to redefine problem is through collaboration.
>> Exactly.
>> Okay.
Very good.
Brilliant. Okay, so if we're talking problem,
then we also have to talk solutions, and solutions lead to technology.
And this is where maybe it gets really hairy in terms
of marrying technologies across industries.
How is that done based on your experience?
>> It's all about removing unnecessary
layers, really about moving,
removing the unnecessary layers.
So if I go back to the car example for, that's a great example that is
used in that book, The Best Interface is No Interface.
Because the layers there that they've added are the screens.
There's your home screen, there's the icon at the first screen of the application.
You're trying to find the button that says unlock in the application and
it's hidden somewhere.
These are layers upon layers upon layers, and the solution for
that was to actually get rid of all those screens.
To get rid of the smart phone and
instead to make your key have a little sensor in it, and your door have a sensor.
So, when you approach the car, the car would unlock automatically.
That's removing all of those layers,
there still communication between an object and the car.
But this time it doesn't have to go through your cellphone tower,
to a central server and back.
It doesn't have to have user interaction
anymore than your original set of keys did.
>> It almost seems as if you're suggesting that you have to be
very focused on what the original problem is or was and
to then simplify the solution >> Exactly,
that is exactly where I'm going with this.
In fact I think the most important thing there to realize is
there is a danger in trying to cross fertilize from other industries.
And it's bringing over too much.
You're trying to bring the core, just the essence of the idea over oftentimes.
That's the thing that will be the seed that will allow you go grow a whole
new idea in your field >> Thank you, Lorenzo.
This has been very insightful.
I am sure our learnershave learned quite a bit.
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