Very interesting essay. I didn’t know that this traditional industry has been changed this far. This digitization could be a good way to keep their customers to stay at Singapore port considering the competition among ports in Asia. In addition to this, if they can reduce the lead time of the ships at their port, which is a huge cost for their customers, they can attract more customers to change their route. But like you mentioned on this essay, the cyber security issue should be managed wisely. I want to see how other ports react on this new industry shift.
Very interesting essay. As reinsurance company’s customers are insurance companies, we rarely have a chance to deal with this issue. However, many insurance companies have been using reinsurance companies to mitigate their risks for more than 1300 years. Without reinsurance companies, insurance companies couldn’t expand their business models, which offer chances to their customers(companies and people) to perform their tasks with much less risks and thus our industrial landscape would be totally different from now. One of the cases that we can think of reinsurance business is 9.11 in 2010. For 2 years after the tragic, hundreds of reinsurance companies had shared the risks($22B claims) and compensated it, which prevented serial bankruptcy of insurance companies.
As political, religious, and climate uncertainty increases, reinsurance companies raise insurance premium gradually. However, insurance companies don’t have many options to choose because they should hedge their risks anyway. And, of course, it will have impact on our premium too.
I enjoyed reading your essay. India is a huge market that most of companies want to get in. As India has been protectionists for a long period, Samsung built its cell phone factory in India in 2006 and has been expanding until now. These days, even Chinese electronic companies are investing aggressively in India. As India has a lot of smart people, foreign companies can hire and train them easily. Apple factory in India will catch up the efficiency of Foxconn within short period of time. However, the harder part for Apple in India is its market share. Increasing market share in India would be challenging for them because of the severe competition among all global big names and the existence of huge refurbish market of Apple products. About the protectionism, I personally think that it is somewhat inevitable for developing countries to give enough time to their domestic companies and industries to build sound foundation to compete with mature foreign companies. Also, the restriction that India government set is a good strategy to attract more companies and foreign direct investment.
I really enjoyed this report. I think digitalization could be a huge game changer in fashion/retail industry, not only by reducing the lead time and costs dramatically, but also by getting wider range of customers’ information that could be used for enhancing production efficiency, setting marketing strategies, and managing brand identity. For me, Uniqlo is a brand somewhere between Muji, a chic lifestyle brand, and Zara, a distributor of fast fashion. Compare to other brands, Uniqlo’s brand image and their vision are somewhat vague. These days, Uniqlo is squeezed by their competitors from everywhere because they are not as much trendy as fast fashion brands and not as much unique as chic lifestyle brands. Also, customers preferences have been changing faster and many customers have been asking Uniqlo something more than price. Digitalization and the customer data from this change could show the way to Uniqlo.
It’s very interesting to read, as this Diesel-gate was huge in my country too. 126,000 cars from VW and Audi sold in Korea had same issue of installing defeat devices. In addition to this, in 2016, Korea government found out that they manipulated their documents of emission and noise for another 83,000 cars sold in Korea. Consequentially, they were suspended from selling cars in Korea, leaving 20,000 new cars at Pyoung-tak port in Korea. After 14 months suspension, they are trying to reinstate their certification from Korea government. However, most of their new cars are still on the waitlist of approval and nobody knows when it will be done. During the suspension period, they used their showroom as art galleries and stages and a lot of sales employees left for other car companies. They would struggle for several months more to reinstate their organization and sales activities, however, as Toyota recovered before, they will take the market share again. After the Diesel-gate, VW announced to shift their strategy to electric mobility, which is lagging far behind. I want to see how VW overtakes other competitors in electric mobility industry.