Thrive within the Digital Age with SMU’s New Enterprise Main and Monitor
From the SMU Social Media Team
As in any other industry, digital disruption has rocked the world of brand communication and marketing. Companies are rethinking their approaches to getting in touch with tech-savvy customers and telling stories across omnichannel touchpoints.
The future of marketing lies beyond previous one-way communication efforts. Today’s brands need to engage customers in meaningful conversations, including by leveraging a variety of insights provided by data, from consumer behavior to forecasting trends.
Mark Chong, Associate Professor of Communication Management
For this reason, the Communication Management degree program offered by the Lee Kong Chian School of Business (LKCSB) at SMU introduces a new track in Data, Design and Communication (DDC) to enhance skills in data analysis and visualization, design as well as Storytelling for evolving the digital age. A track is a sub-category under a major that provides students with a closer focus on a specific area within that major.
“The DDC track grew out of discussions with my colleague Professor Sungjong Roh about how developments in data science, design and technology are profoundly influencing the way organizations and stakeholders interact with one another,” says Mark Chong, Associate Professor of Communication Management at the SMU.
“We need to prepare our students for this ‘new world’. That is why we organized a data, design and communication symposium at SMU in November 2019 to signal our intention and started the track this year. “
Some interesting career opportunities for DDC graduates include media technology company analysts, content strategists, online community managers, digital copywriters, and UX designers.
Geng Xuesong, associate professor of strategic management
As traditional retailers and other businesses are hit by the impact of social distancing during a pandemic, brands are making the transition to omnichannel strategies faster than ever. Therefore, the SMU will offer a second focus in the area of digital business. The second major will provide a foundation in areas such as digital transformation, digital business technologies, and an introduction to programming to equip graduates with relevant skills for omnichannel brand communication.
“The pandemic suddenly challenged society’s old ideas about digitization and aroused overwhelming interest in digital transformation in all areas of business and society,” says Geng Xuesong, Associate Professor of Strategic Management at the LKCSB.
“When we saw the trend, we realized that the time was ripe for a new major that could systematize otherwise dispersed knowledge, techniques and skills in an integrative structure, and we created the new second major for digital business.”
Here are four ways you can apply innovative strategies to be successful in the digitized companies of tomorrow:
1. Strategy in the digital age
Developing a comprehensive digital strategy is a must for management practices in any industry, given the immense disruptive force caused by technology and innovation.
“More and more companies in Singapore are going digital,” explains Assoc Prof Geng. “LKCSB is closely following the market trend and has gradually added digitization content to various courses such as marketing, finance and operations management.”
A unique pair of modules, according to Assoc Prof Geng, is the combination of strategy for digital transformation or transformation for digital business (offered by the SMU School of Computing and Information Systems) and management of strategic change and digital transformation (offered by LKCSB).
“Both courses explain how digital technologies can be used in business operations to gain competitive advantage, even though one is technology management and the other is business management,” explains Assoc Prof Geng.
“This provides the timely management tools and new perspectives for solving business problems as the thriving digital economy changes the way business is done.”
2. Master the digital transformation
“Two major students can provide ready-made ideas and solutions that incorporate both management techniques and digital technologies.”
In an uncertain global business environment driven by digital transformation, companies are now looking for internal hubs for much-needed competitive advantage. In particular, companies that are able to change well-established ways of working can achieve the sustainability of companies.
“This second major, Digital Business, can be combined with any other major by providing new perspectives and additional management skills,” explains Assoc Prof Geng.
“When combined with a strategy major, for example, it helps our students improve their skills for jobs related to business consulting and market intelligence. The demand for digital transformation in many companies is growing, and dual majors can provide ready-made ideas and solutions that incorporate both management techniques and digital technologies. “
The module “Managing Strategic Change and Digital Transformation”, for example, offers a deep understanding of digital concepts and technologies such as omnichannel platforms and ecosystems, blockchain technology, Internet of Things (IOT), artificial intelligence and cloud computing. Such a knowledge base prepares graduates to master challenges and recognize opportunities in technology-based, internet-based and data-based business contexts.
“A big problem with digitization is that those who are familiar with businesses may not be familiar with digital technologies, while digital engineers may have little idea of how businesses work,” says Assoc Prof Geng.
“The integration of technology-oriented modules and management-oriented modules is a unique selling point of this second major of digital business.”
3. Harnessing the power of data
With the flood of information and noise in the online world, today’s communications professionals are faced with the difficult task of differentiating their brands from the competition. However, the digital marketing realm has also provided communicators with an arsenal of tools to use data analytics to delve deep into consumer behavior.
As Assoc Prof Chong says, “With data analytics, communications professionals can better understand their audiences, create data-driven content and design strategies, and measure the impact of their strategies.”
Beyond marketing, Singapore will see more career opportunities in e-commerce, e-marketing, new retail, as well as new roles in smart manufacturing, smart logistics, e-business analysis, digital consulting and digital process, according to Assoc Prof Geng Reengineering.
“In a broader sense, our graduates will see more traditional positions with new demands on digitization,” he adds.
“For example, business development agents sometimes need to understand programming languages like Python (for business analytics) and e-business systems, while risk management positions may require knowledge of digital scams or online fraud.
These new roles require our graduates to understand traditional business knowledge as well as emerging digital technologies and digital business models. “
4. Adopt a design mindset
“Design Thinking is a powerful tool for companies in any industry.”
For the uninitiated, design thinking seems to be embedded exclusively in visual creativity and only applies to budding art directors and graphic designers. However, Design Thinking is a powerful tool for companies in any industry that is perfect for promoting creative innovation and developing people-centered solutions.
“The Design Thinking process focuses on understanding real human needs and constantly iterating and testing prototypes,” explains Assoc Prof. Chong.
“It therefore promotes constant and meaningful communication with the stakeholders of the organization without exception. In addition, the beginner’s mindset that design thinkers normally adopt enables communication practitioners to break down prejudice and approach design challenges with new eyes. “
In addition to visual communication, a design mindset is critical to the success of this fourth industrial revolution. Design thinkers are ready to tackle not only evolutionary changes in the business world, but also revolutionary changes brought about by automation, technology and volatile economic conditions.
Would you like to be future-proof and ready to make a difference in business and society? Find out more about the SMU Bachelor of Business Management here!
