Since the rise of Virtual Reality, I got really curious about the progress of the technology I decided to keep a close eye on its development. My main observational point was to understand to what extent it can replicate the actual reality, and how it can surpass itself in the near future. To this present, I have observed VR in online shopping, fitting rooms, video games and even household tasks.
While browsing for some options in how to raise funds in a fun and reliable way, that would allow for me to mix sports and marketing as well, led me to face this crowdfunding platform “GoFundMe”. For those of you unfamiliar with the notion of crowdfunding, it is the action of raising capital from many people through an online platform, which offers little opportunity for careful due diligence and involves not only friends and family but also many strangers from near and far to help (A. Agrawal & all, 2013).
Crowdsourcing has become a very used strategy in this new digital era. It is used to reach to innovative solutions, decision-making, to raise funds for a Marathon to give to charity. It can also be used to create opinions about a product or to generate algorithms to make a product work. With that being said, let me introduce to you the latest novelty in the industry of music: JudgeMySound. An innovative idea from two young students where they opt to generate an algorithm by giving the freedom to the end users to judge different sounds, and ultimately be able to generate music through this algorithm.
The digital era has brought a vast change in how firms have to operate in the business context. Globalisation has allowed for us to create a mindset of the world as a unique system, a single market. These fundamental changes caused by the driving forces have brought competition to a whole new level, where barriers to entry became easy bricks to breaks, and entering different markets has become much easier to achieve. For instance, it is essential in this “new economy” for firms to adjust their business models, if not, reinvent it to cope with the fierce competition that follows. In essence, the real challenge doesn’t lie on whether firms will cope with the fast changing business environment, but whether they will make the necessary changes on time to cope with it!