English Subtitles for BMI 1x feedback 1



Subtitles / Closed Captions - English

<font color="#E5E5E5">welcome everyone</font><font color="#CCCCCC"> and</font><font color="#E5E5E5"> first of all happy</font>

<font color="#E5E5E5">new year</font><font color="#CCCCCC"> we have seen here about 4,000</font> students right now<font color="#CCCCCC"> 1000</font><font color="#E5E5E5"> of you which are</font> actively participating and<font color="#CCCCCC"> I am today</font> here with one of your lectures<font color="#CCCCCC"> and Mark</font> <font color="#E5E5E5">who will be here with me to provide some</font> feedback and discuss some issues that

came up<font color="#CCCCCC"> next a form thank you</font><font color="#E5E5E5"> Mark</font> first of all we want to discuss about the forum<font color="#E5E5E5"> we ask or</font><font color="#CCCCCC"> steam have seen that</font> there was a lot of activity and especially one question that came up<font color="#E5E5E5"> and</font> <font color="#E5E5E5">that was the difference between a</font>

business model and a business strategy <font color="#CCCCCC">yeah</font><font color="#E5E5E5"> mark</font><font color="#CCCCCC"> what can you tell us about</font> this<font color="#CCCCCC"> well in fact this is one of the</font> most often debated topics in this business<font color="#CCCCCC"> model literature</font> what's the difference between a business

model and<font color="#E5E5E5"> strategy and it's even one of</font> the topics that we<font color="#CCCCCC"> discussed among the</font> lecturers ourselves<font color="#E5E5E5"> a lot but the bottom</font> line is this strategy is about positioning in the market and the business model is about executing your

strategy <font color="#CCCCCC">okay so which one of these</font><font color="#E5E5E5"> two has to</font> come first well most typically is that first comes to strategy<font color="#E5E5E5"> so companies find specific</font> spot in the market<font color="#CCCCCC"> that's attractive for</font>

instance<font color="#E5E5E5"> there's low competition or a</font> lot of demand and then it tries to find a business model in order to seize the opportunity<font color="#CCCCCC"> of</font><font color="#E5E5E5"> course there are some</font> exceptions very best of all comes first and<font color="#CCCCCC"> the company tries to find a spot in</font>

the market<font color="#E5E5E5"> in order to position itself</font> <font color="#CCCCCC">ok</font><font color="#E5E5E5"> but in general strategy comes first</font> <font color="#CCCCCC">and</font><font color="#E5E5E5"> from there</font><font color="#CCCCCC"> and in general that's the</font> case<font color="#CCCCCC"> yet</font> <font color="#CCCCCC">ok</font><font color="#E5E5E5"> now second thing is the assignment</font> which<font color="#E5E5E5"> our students had to peer review</font>

and the the question was specifically to formulate a strategy for their own business can you share some of your general observations<font color="#E5E5E5"> you have</font><font color="#CCCCCC"> to look through</font> there<font color="#CCCCCC"> we</font><font color="#E5E5E5"> are</font><font color="#CCCCCC"> very</font><font color="#E5E5E5"> excited to see a lot</font>

of interesting ideas<font color="#E5E5E5"> coming up a lot of</font> business model innovations that people are actually dealing with<font color="#CCCCCC"> we</font><font color="#E5E5E5"> found that</font> people do this very positively and seriously<font color="#CCCCCC"> so that's very nice and</font><font color="#E5E5E5"> also</font> when<font color="#CCCCCC"> they're looking at</font>

the peer reviews people are critical <font color="#CCCCCC">which is good</font><font color="#E5E5E5"> but their constructive</font> <font color="#CCCCCC">they really want to help their bears</font><font color="#E5E5E5"> and</font> improving their their business<font color="#E5E5E5"> so</font><font color="#CCCCCC"> I'm</font> very happy about<font color="#CCCCCC"> it</font> <font color="#CCCCCC">that's</font><font color="#E5E5E5"> there also was</font><font color="#CCCCCC"> constructive</font>

critique about the way we formulated the question yeah<font color="#E5E5E5"> also one issue about the grading</font> criteria<font color="#CCCCCC"> so next time in the next</font><font color="#E5E5E5"> blocks</font> when doing such a<font color="#E5E5E5"> bear assignment will</font> make<font color="#E5E5E5"> layer to</font><font color="#CCCCCC"> peer review criteria</font>

before<font color="#E5E5E5"> you have to submit your own</font> answer<font color="#CCCCCC"> so you know what we expect so we</font> hope that's going to help<font color="#E5E5E5"> that</font><font color="#CCCCCC"> ok</font> was there one specific example that you really<font color="#CCCCCC"> liked what I was one</font><font color="#E5E5E5"> thing that</font> one example that stood out<font color="#CCCCCC"> there is</font><font color="#E5E5E5"> one</font>

student who is launching<font color="#E5E5E5"> his business he</font> wants to offer<font color="#CCCCCC"> a nap</font><font color="#E5E5E5"> so that people in</font> conflict zones can take photos and can share or sell these photos to the regular media and we found it very interesting and they were able to use

<font color="#E5E5E5">three of the visible pattern cards</font> <font color="#E5E5E5">revenue sharing content creation and</font> auctioning<font color="#E5E5E5"> and so it was interesting to</font> see how<font color="#E5E5E5"> these</font><font color="#CCCCCC"> veteran guards help the</font> student to formulate a better business right here<font color="#CCCCCC"> that's</font><font color="#E5E5E5"> really interesting and</font>

<font color="#E5E5E5">really nice to hear</font> well thank you<font color="#E5E5E5"> Mike for your input for</font> our students<font color="#CCCCCC"> the peer</font><font color="#E5E5E5"> review assignment</font> to submit your assignment is still open until today and the reviewing of other assignments will be open until generally

the<font color="#E5E5E5"> tent</font><font color="#CCCCCC"> we hope</font><font color="#E5E5E5"> to see your active</font> participation in the course<font color="#E5E5E5"> and do not</font> forget to have fun



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