Day 1 in Hong Kong

After a quick Italian lunch, class starts with a little intorduction of the course Technology Innovation . Chris introduced more ideas of the need of creation of innovation. He showed us in a little game, how commodities are cheap and the price competition is very high! And therefore technical innnovation will help to get out of this red ocean industries!

Further it was a insight on the abreviation of R&D in China: R..eplicate and D..uplicate! Coming from Shanghai I can quite understand this funny word game. And the Best Knockoff Is…at Businessweek.com is a good article to look a a couple good counterfeits from all over the world!

Since I have never written a blog, this is going to be an interesting opportunity to learn more about new innovative web tools...

The presentations about the impact of the Asus eee for the PC market went a little bit longer. But showed how diverse the different views from ASUS, APPLE, MICROSOFT or INTEL can be and how boards decide on the future behaviour towards lower priced PC like Asus eee.

Prediction markets will help to estimate comsumer behaviour and the business decisions outcome. An equivalant example is "buying a contract" for the American election. IT reflects the amount a person is willing to pay ("bet") money on the outcome.
In the 80s this method was first introduced for elections at the university of IOWA. The result was a prediction market. Hewlett Packard then introduced it to its sales force and the outcome.

Predicting prices, sales or even new ideas can be predicted within a company. This helps to predict the future. This will help the company to plan future outcomes for the company. The page news.us.newsfutures.com is an expample for a prediction market online. The internet was the main driver and therefore a driving force for this tool of predicting the future.
This method is the best way of making a forecast according to Mr. Schreiber, who has tried various ways to predict and found the prediction market as the best and most reliable.

Inkling.com is a page to create own prediction markets, which can be used in our companies.

The end was to create a blog now. I had one already and I am now done for the day.