Communication Management in Digital Age

Part A

1. What business model would you prefer if you are asked to start a new business venture in the Communication-Media industry today? Discuss with reference to ‘Pipeline’ and ‘Platform’ business models.

Platform business models have existed for years, but the advancement in technology has given organizations different mediums to excel in their specific industries with ‘platform’ business model. Technology has made the world more connected and thereby it satisfies the core of ‘platform’ business model i.e. enabling interactions among the different players and the customers by bringing them on a common platform. As technology increasingly impacts the lives of people every day, it’s in best interest of an organization to utilize technologies full potential via a ‘platform’ business model.

If I were to start a business it would be based on a platform business model. This way I would be able to focus more on the demand side economies as compared to pipeline business model which looks into supply side economics. Focusing on the demand side economics will help bring the network effect, which will add value to the ecosystem created through a circular, iterative, feedback-driven process. Power although limited would be with the customers and suppliers, these external forces would be accretive thereby adding value to the platform, unlike in the traditional pipeline model where these forces are considered depletive.

This ecosystem generally has 4 kinds of players , as I will be starting a new business venture , I would be considered as an owner in the platform model. My first critical strategic aim would be to create a strong up-front design which would attract desired participants and thereby enable the right interactions and encourage even more powerful network effects. I wouldn’t mind lower volume in the beginning as long as it creates higher value. Then based on the opportunities ahead I would move into adjacent markets or adjacent type of interactions, consequently increasing both value and volume, for example starting out with a platform for tech blogging and later moving into something which allows users to post queries and subsequently solution to those queries by other users.

For the success of the platform quality content is a required and thereby governance is a must. But having either an open or closed governance would either fend away the participants or put a limit on their ability or bad quality content would allow the customers to move to other such platforms. Keeping an effective governance will not only allow for quality content to be published but will also help increase the volume of customers.

The platform initially would be for a limited sectors, so that it would provide higher value and after reaching a threshold it will be open for multiple providers so as to engage multiple users and thereby increase volume and enhance network effect.With new market and expanding participants , huge amount of data can be collected and analyzed to find new insights and thereby create more value for the user’s and the producers. I believe the business based on platform model would be a success , slowly but surely.

Part B

1. Discuss the changing role of youth in any recent digital age electoral campaign in India/USA/Europe; in particular, respond to the issue of youth being involved or displaying apathy as citizens during times of elections drawing upon your own understanding of a recent election.

With Internet reaching almost every corner of the world , and the power of social media increasing day by day , youth who were once unwilling to share their political view are now actively sharing their viewpoints over the internet. Youth all around the world has always been skeptical about elections, politics and politicians mainly because of corrupt practices but their voices could not be heard all around , but now with the advent of digital platforms everyone can express their viewpoints to the world. The digital platform also helps the political parties to help reach out to the not so interested youth via digital electoral campaigns and thereby gain their votes as in a democratic elections each vote counts.