Elevator pitch for homelessness

Problem of homelessness by Wallace Lee Kar Shing

Homelessness is a big concern. Many people become homeless as a result of excessive rents, job loss, or medical issues. It's not simply a lack of a place to sleep; it's also a loss of stability and safety in life. Even a single unexpected expenditure might lead to homelessness. Living on the streets or in shelters is difficult. People confront cold, hunger, and danger. Without a house, it is difficult to obtain work or stay healthy. Mental health and addiction problems might worsen. To assist, we require more affordable housing, improved healthcare, and career support programs. Communities, governments, and charity must collaborate. (Azahara, 2021)

Solution for homelessness (Wan Ping Yao)

Imagine a world where it is possible for everyone to access housing that is not only affordable but also safe. We can assist poor families to access stable housing systems through expanding affordable housing pool using public grants, and the use of ordinances that require all subdivisions and development of land to reserve a certain percentage for affordable housing. This move lessens reliance on welfare programs while constructing stronger neighborhoods that are rich with money in addition to offering immediate accommodation and forming the basis for brighter futures. Investing in affordable housing is the key to putting an end to homelessness and create a better future for everybody. (Geraghty, 2022)

https://www.malaysianow.com/opinion/2021/01/22/tackling-the-problem-of-homelessness

https://www.bigissue.com/news/housing/world-homeless-day-what-are-the-solutions-to-homelessness/

Challenges and Opportunities of Amazon

Challenges 1 (Wallace Lee Kar Shing)

High Degree of Competition

One of the key difficulties is that Amazon sellers face substantial challenges due to the platform's low entry barriers and flexibility to allow several merchants to sell the same things. They are constantly confronted with an unlimited amount of competitors unless they supply something distinctive, making it difficult for them to stand out and earn revenue. Furthermore, there is local rivalry, while a large proportion of American Amazon sellers are from China, where lower production costs give them a pricing edge. In 2020, a stunning 25% of Amazon FBA sellers expressed anxiety about decreased prices as a result of greater competition. Sellers may make a reputation for themselves, stand out from the throng, and effectively navigate Amazon's harsh competition by building their own distinctive sales channels and marketing plans. (Hopstack, 2024)

Opportunity 1 (Wan Ping Yao)

Technology and Innovation

Amazon provides many opportunities when it comes technology and innovation. Firstly, Amazon in the retail industry provides Amazon Go. Amazon Go is a digital retail store where customers enter the retail store to purchase day-to-day items and groceries by simply walking in and walking out of the store after they are done shopping. How this works is that there are surveillance cameras all across the store to scan all the items that the customers have took from the shelfs or put back. Before the customers walk out of the store, the system that runs Amazon Go will calculate the total price of the items taken by the customer and it will deduct the equal amount of balance from the customers' Amazon account. There are no physical contact with other people throughout the entire shopping process. (Amazon, 2024) Amazon Go allows its customer to shop very efficiently as customer are no longer required to queue up to pay for the items and it was very useful during the Covid-19 pandemic as no physical contact between people were allowed. Moreover, Amazon also provides online shopping options. All the user has to do is to go on the Amazon website which is amazon.com, and choose the item that they would like to buy. Within a few days after purchasing the item, the item will be at the customer's doorstep. Amazon utilizes several types of vehicles for online delivery depending on the distance such as trucks, vans, airplanes, and sometimes drones if the destination is not far from the warehouse. All in all, the services that Amazon provides focus on mainly automation and is the reason for the high efficiency of Amazon services. With these technology and innovations that Amazon has, it provides many opportunities that can lead to many technological advancements across many industries. (Amazon, 2022)

Challenges 2 (Teh Yin Xin)

Counterfeit of Product

Amazon, one of the giants of e-commerce, has revolutionized the way we shop. However, its massive online marketplace faces a growing threat, which is counterfeiting goods. These counterfeits can erode brand trust, and customer satisfaction and damage Amazon’s reputation. (Corsearch, 2018) Counterfeit goods are a double-edged sword for Amazon. On the other hand, they can attract bargain hunters seeking lower prices. However, this benefit is short-lived. Counterfeit products are often lack of quality control and can pose safety risks to customers. (ICE, 2022) Additionally, counterfeit products can hurt legitimate brand owners who rely on Amazon as a sales channel. Customers who unknowingly purchase the counterfeits will be dissatisfied and less likely to trust Amazon in the future. This erosion of trust could lead to customer churn and in the end cause a loss of revenue for Amazon. (Pymnts, 2024)

Opportunities 2

Currently, Amazon requires sellers to register and provide basic information but this can be a loophole for bad actors. Hence, Amazon should explore stricter verification processes by demanding additional documentation like business licenses, manufacturing certifications and having random product inspections before allowing the seller to sell the products. Although this might increase the complexity of the process, it can go a long way to deterring counterfeiters and boosting the customer confidence in Amazon. (Cello Square, 2022)

Challenges 3 (Tan Shu Rou)

Supply Chain Distruptions

Due to the sudden pandemic, the supply chain distruptions have been made more difficult especially for Amazon. As many as 93% of e-commerce sellers lost revenue and the majority of commerce sellers said their inventory was delayed for 2 months or more. This was mostly due to factories in China having to stop work due to the spread of Covid 19 causing manufacturing  facilities to stop productions. As a result, ordering inventory from a supplier became a very long process due to the various delays which in turn affected seller's revenue and Amazon as a whole. (Polansky, 2022)

https://www.hopstack.io/blog/challenges-faced-by-amazon-fba-sellers

https://www.aboutamazon.com/news/transportation/an-inside-look-at-the-innovations-that-power-amazons-operations-and-delivery-networks

https://www.amazon.com/b?ie=UTF8&node=16008589011

The Design Thinking Process of GrabFood

The Design Thinking Process (GrabFood)

What is GrabFood? (Wan Ping Yao)

GrabFood is a food delivery service in South East Asia, but its biggest market demand is located in Singapore. GrabFood is just one of the many features and services provided by the company Grab. Grab was founded back in June 2012 in Kuala Lumpur, Malaysia, founded by an entrepreneur called Anthony Tan and Tan Hooi Ling. (Buckley, 2023) Grab launched GrabFood back in May of 2018 in Malaysia and has since expanded to many countries in South East Asia such as Singapore, Indonesia, the Philippines, Vietnam, Thailand, and Myanmar. (Grab Singapore, 2023)

Nowadays, about 34 million people in South East Asia uses GrabFood at least once a month, that is one in 20 people in South East Asia as the region has about 680 million people. (Grab Singapore, 2023) With Grabfood, the company Grab has a revenue of 2.359 billion dollars as of December 31 2023 which has included other services and features that the company Grab has provided alongside GrabFood. (MacroTrends, 2024) How GrabFood operates is essentially the user places an order on the Grab app and the kitchen of the restaurant the user chose will receive the order and once the food is ready, a Grab delivery driver which is usually on a motorcycle will pick up the food from the restaurant and deliver the food straight to the user's doorstep. This process typically takes about an hour.

What if? (Wallace Lee Kar Shing)

GrabFood can improve its service by enhancing the user experience with a streamlined interface and faster delivery times through optimized logistics and real-time order tracking. By increasing restaurant options, providing personalized recommendations, and implementing promotions and loyalty programs can attract and retain customers. (Chung & Yi, 2023) Additionally, improving customer support, ensuring food quality and safety, and promoting sustainability initiatives can enhance trust and credibility. Adapting to local preferences and cultural sensitivities can further improve relevance and acceptance in diverse markets. By focusing on these areas, GrabFood can solidify its position as a leading food delivery platform while meeting the evolving needs of its users. (Wulandari et al., 2022)

What wow (Teh Yin Xin and Tan Shu Rou)

In today’s fast-paced world, convenience plays an important role. GrabFood which leverages its strength in the ride-hailing sector to offer delightful features that attract millions of people to enjoy their food with a tap.

First and foremost, GrabFood boosts an extensive selection of restaurants. By partnering with a wide range of establishments, from local favourites to internationally recognized chains, GrabFood caters to diverse culinary preferences. Users can explore a variety of cuisines, ensuring that there is something to satisfy every taste bud. This eliminates the need to browse through countless websites or menus. (Grab Philippines, 2019)

Furthermore, GrabFood prioritizes user-friendliness. The application itself is designed with simplicity. Its clear interface allows users to easily browse the restaurant menus, place orders with a few taps and track their deliveries in real time. This empowers users to manage their orders efficiently and eliminating any uncertainty about when their food will arrive. (Felicia, 2022)

Besides, GrabFood goes beyond basic delivery. It offers a variety features that enhance the overall user experience. For example, users can utilize customization filters to narrow down their restaurant search based on factors such as price, type of cuisine or customer ratings. (Tan, 2020) This allows users to find exactly what they are looking for quickly and efficiently.

Other than that, the most notable feature of GrabFood is the ability to schedule orders up to two days in advance which is valuable for planning events or managing a hectic schedule. Additionally, the self-pick-up option caters to those who prefer to collect their meals by bypassing queues and minimizing the wait times. (Tan, 2020)

What works (Benjamin)

By connecting with the broader Grab ecosystem which includes ride-hailing an dpayment services, GrabFood enriches its value proposition. This seamless initegration allows users to access multiple services within the one app easily, promoting cross-promotion and enhancing user engagement and retention. Not to mention, by teaming up with other Grab services like ride-hailing and payments, GrabFood makes its offerings even better. Plus, by working together, Grab makes sure users get personalized recommendations and deals, making their experience even more enjoyable and hassle-free. (Rai & Kshirsagar, 2022)

References

Buckley, J. (2023, February 27). A Brief History of Grab in Southeast Asia: transnationality, dominance and resistance. Asian Labour Review. https://labourreview.org/grab-in-southeast-asia/

Chung, M. J., & Yi, N. Y. (2023). Importance-Performance analysis of delivery food service quality to improve customer satisfaction. Dong-asia Siksaenghwal Hakoeji/Dong’asia Sigsaenghwal Haghoeji, 33(1), 81–92. https://doi.org/10.17495/easdl.2023.2.33.1.81

Felicia, C. (2022, March 12). GRAB FOOD: A UX Research Case Study 2022 - Clara Felicia - Medium. Medium. https://medium.com/@clarafelicia0911/grab-food-a-ux-research-case-study-2022-7d44ac8e7ff

Grab Philippines. (2019, August 2). GrabFood boosts food delivery service with 24/7 operations in Metro Manila and Cebu | Grab PH. Grab. https://www.grab.com/ph/press/consumers-drivers/grabfood-boosts-food-delivery-service-with-24-7-operations-in-metro-manila-and-cebu/

Grab Singapore. (2023, October 27). Top GrabFood orders in Southeast Asia for 2022 | Inside Grab. Grab. https://www.grab.com/sg/inside-grab/stories/southeast-asia-grabfood-food-2022/

MacroTrends. (2024). Grab Holdings Revenue 2020-2023 | GRAB. https://www.macrotrends.net/stocks/charts/GRAB/grab-holdings/revenue

Rai, V., & Kshirsagar, A. (2022, March 11). Super-App ecosystem in Southeast Asia: Grab. Nuclei. https://gonuclei.com/resources/super-app-ecosystem-in-southeast-asia-grab

Tan, A. (2020, March 11). I was Today-Years-Old when I realised these 7 things you can do on GrabFood. Vulcan Post. https://vulcanpost.com/691293/grabfood-cool-features-singapore/

Wulandari, Y. A., Amir, F., & Fajri, M. I. (2022). The impact of Pakserv on customer satisfaction and loyalty: Study case GrabFood Indonesia. Journal of World Science, 1(8), 578–591. https://doi.org/10.36418/jws.v1i8.79

Wicked Problems in Modern Cities

Problem definition (Wallace Lee Kar Shing)

Homelessness

Lack of suitable and permanent housing for individuals and families is one of the many aspects of homelessness as a societal issue. It includes a range of situations, from individuals who are homeless or placed in emergency shelters to those who are insecurely housed in subpar or temporary housing. Economic, social, and structural reasons such as poverty, unemployment, housing affordability, mental illness, drug misuse, family breakup, and institutional injustices all play a multifaceted role in the issue of homelessness. In addition to endangering people's health, safety, and well-being, homelessness puts a pressure on social services, fuels urban degradation, and maintains cycles of poverty and marginalization. Providing immediate shelter alone is not enough to address homelessness; comprehensive strategies like affordable housing initiatives, supportive services, mental health and drug abuse treatment, education, job opportunities, and community-based approaches to prevention and intervention are also needed. (Emily Kendali, 2024)

 

User persona (Tan Shu Rou, Teh Yin Xin)

Name: Sarah

About Me

I'm Sarah, I became homeless a few years ago due to a sudden cut of employees in my company. Being jobless and paired with the lack of support from the government, I faced issues in finding an affordable place to stay due to the ever-rising house prices. Fortunately, I met very generous people who helped me through the dark times of my life. Thanks to them, although low paying, I found a job and had a roof above my head. I slowly got back to my feet and escaped the issue of being on the streets. Now, I aim to give back to the community and reach out to people in need like me of the past.

Personality

Sarah is empathetic, resourceful, and resilient. Despite facing adversity, she maintains a positive outlook and is determined to make a difference in the lives of others. She is also creative and innovative, constantly seeking new solutions to address homelessness and advocate for systemic change. 

Goals

1. Community Engagement: Sarah hopes to bring people together to foster collaboration among organizations and policymakers hoping to support homeless people by building shelters or raising donations. 

2. Housing Solutions: Sarah hopes to collaborate with local organizations and policymakers to make housing more affordable or at least provide a cheap temporary house to people in need so that they can feel safe even in bad times.

3. Advocacy: Sarah hopes to raise awareness about the realities of homelessness through education and public speeches. 

Storyboard (Benjamin Chan Xie Chung)

Panel 1:

Setting: Vibrant city street with towering buildings.

Description: Diverse crowd rushes past, some carrying bags or chatting on phones, filling the city with energy.

Panel 2:

Setting: Close-up of a chaotic traffic jam.

Description: Cars jam the road, horns blaring amidst exhaust fumes. Pedestrians walk through the congestion, visibly frustrated.

Panel 3:

Setting: Crowded subway station during rush hour.

Description: Commuters tightly packed into subway cars, struggling for space to move or breathe. Discomfort among passengers.

Panel 4:

Setting: A polluted river running through the heart of the city.

Description: Trash litters the riverbanks, murky water lets out foul odors. Wildlife struggles amidst human debris, highlighting environmental damage.

Solution (Wan Ping Yao)

As an entrepreneur, there are many ways to solve such wicked problems that people are experiencing in modern cities like homelessness. One of the many ways to solve such a problem is by collaborating with other Non Governmental Organizations (NGOs) and the government to develop a housing model that is cost effective and durable for living as well as being scalable that can house a large population. This allows low-income individuals and families to have a roof over their heads while non governmental organizations are able to save cost while developing affordable housing units with the government. Furthermore, government will be able to boost their reputation by helping the low-income individuals and families. Not only that, as an entrepreneur, organizations should also provide job opportunities to the poor alongside providing training to said selected group of individuals as the problem of homelessness mainly originates from many people facing financial issues due to the rising cost of living and housing as well as the lack of salary increment and most importantly lack of job opportunities. Therefore, by providing these training programs and job opportunities, more and more people will be able to afford housing and hence decreasing the rate of homelessness. This is due to the fact that the initiatives to enhance entry-level, low-skilled worker routes to employment through investments in subsidized employment and Workforce Investment and Opportunity Act (WIOA)-funded programs. The availability of work supports, such as child care and transport aid, for low-income households can also significantly affect the ability of a household to maintain employment. (National Alliance to End Homelessness, 2019)

References

Britannica, T. Editors of Encyclopaedia (2024, May 1). homelessness. Encyclopedia Britannica. https://www.britannica.com/topic/homelessness

National Alliance to End Homelessness. (2019, March 5). Solutions - National Alliance to End Homelessness. https://endhomelessness.org/ending-homelessness/solutions/

Culture in Entrepreneurship and the challenges of bringing in new investors

Culture in Entrepreneurship and the challenges of bringing in new investors

Why is culture important? (Wan Ping Yao, Tan Shu Rou)

As an entrepreneur, culture is important as it provides competition among organizations. With competition and rivalry, comes innovation and motivation to be better than the rival. Therefore, advancements will rapidly emerge as all of those organizations are trying to stand out to be the best. Culture in entrepreneurship also allows organizations to open up to various new ideas and encourage them to take up various risks for said ideas. Furthermore, this forms a continuous loop in the entrepreneurship environment that organizations foster disruptions in the industry and other would also try to catch up to those disruptions with newer and more disruptive ideas by providing better services and products. Therefore, culture is important as it provides competition and innovation to organizations that are trying to be the best and the most unique in the industry which leads to the next point for why culture is important in entrepreneurship which is growth and expansion in the environment and the industry. (Mokaya, 2023)

Culture plays a crucial and significant role in shaping how a community behaves, develops, and responds. Everybody's life in the society is greatly influenced by culture. Having a common language with others creates a feeling of cultural identity. Since language is a direct result of how people communicate in a society, it changes along with culture. Because of the stability it offers, it feels comfortable and secure. Culture evokes the same feelings in most people as it does in their families. Those who belong to the same culture can connect with strangers right away between towns, states, and regions, culture offers continuity. Additionally, culture is a bridge that unites people from different towns, states, and regions by bridging geographical divides. It gives different groups of people a feeling of continuity and common heritage, which promotes a sense of solidarity and belonging. (Sally Painter, 2020)

Do you think that Facebook overpaid for WhatsApp? Why? (Benjamin Chan Xie Chung)

Facebook's decision to drop $19 billion on WhatsApp shocked everyone, but there's more to it. WhatsApp brought in a huge user base particularly abroad, which complemented Facebook's platform well. Despite not being a big money-maker back then, Facebook saw potential in ads and services. Buying WhatsApp also helped Facebook stay ahead in messaging and fend off competitors. So, while it was a hefty price tag, the strategic advantages made it a worthwhile investment.(Olson,2014)

What are some of the problems bringing new investors? (Wallace Lee Kar Shing, Teh Yin Xin) 

The difficulties in attracting new investors are due to an information overload. While some investors will surely lack expertise, others will have too much information, causing fear and unwise decisions, or putting their trust in the wrong people. When investors are overloaded with too much information, they might withdraw from division-making and reduce their efforts. Aside from that, new investors confront the issue of having limited funds to invest. This is particularly increased when specific financial instruments are excessively priced. Aside from that, there are numerous diversification difficulties in which investors buy a variety of assets to lessen the risk of missing out on substantial gains while also minimizing losses. However, if investors diversify too much or wrongly, they may not lose much, but they will also not earn much. They may also accept more risk than anticipated or pay exorbitant costs. (Rassolli, 2024) 

Investing can also be like looking into a fog. There can be surprises lurking out there that just can’t be predicted by new investors. For example, the sudden changes in the economy or new inventions that make their investment outdated. These unknown risks are like bumps in the road which can cause the carefully planned investment to lose money. Hence, new investors need to be sure of what they are getting into before they jump in.  Additionally, new investors are usually unclear about the market causing them to lose the opportunity to invest. For example, new investors might find an interesting company and want to invest in it. However, they are unclear about the market of the company’s product whether the consumer crowd is big enough and interested in their products or the company is popular in the long run. (FasterCapital, 2024) Without having a clear picture of who is the product audience, it is tough for new investors to know if it is a good investment.

References

FasterCapital. (2024, March 14). The drawbacks of not having a market opportunity for your small business - FasterCapital. https://fastercapital.com/content/The-Drawbacks-of-Not-Having-a-Market-Opportunity-For-Your-Small-Business.html

Mokaya, R. (2023, July 18). Entrepreneurship: It’s influence in entrepreneurial culture development by organizations. https://www.linkedin.com/pulse/entrepreneurship-its-influence-entrepreneurial-culture-raphael-mokaya/

Olson, P. (2014, October 6). Facebook closes $19 billion WhatsApp deal. Forbes. https://www.forbes.com/sites/parmyolson/2014/10/06/facebook-closes-19-billion-whatsapp-deal/?sh=e6ac7275c66c

Rassolli, M. (2024, February 8). 6 Common challenges faced by new investors and how to face them. TrendScout UK. https://www.trendscoutuk.com/blog/6-common-challenges-faced-by-new-investors-and-how-to-face-them/

Sally painter (2020, October 30). Why is culture important?Impact on people and society. https://www.lovetoknow.com/life/lifestyle/why-is-culture-important-impact-people-society

Effectuation in Entrepreneurship

Effectuation in Entrepreneurship

Benjamin

Can effectuation also be used in companies? Or is it useful only for entrepreneurship?

Effectuation isn't just for entrepreneurs, it can also help companies innovate and make better decisions. It encourages trying new things, uses resources flexibly, and manages risks wisely. This approach promotes teamwork, agility, and empowers employees, leading to better performance and adaptability within the company. By focusing on what's controllable and fostering a culture of experimentation, effectuation can drive growth and success in larger organizations.(Antonio,2023)

Ping Yao

What is the key difference between effectuation and other approaches in entrepreneurship?

The key difference between effectuation and other approaches in entrepreneurship is that while other frameworks might rely on forward planning and causal reasoning, effectuation focuses on reasoning from a given set of means to new anticipated outcomes. Effectuation is viewed as a "new way of thinking" that complements modern methods of managing innovation, including lean startup techniques, agile project management, and design thinking. Furthermore, effectuation is suggested to provide organizational innovation with competitive benefits by enhancing organizational ambidexterity, functioning as a dynamic capability, and promoting strategy formation. (Jorquera, 2023) (Wright, 2023)

Teh Yin Xin

Are the effectual approach and the traditional (casual) approach mutually exclusive?

The effectual approach and the traditional approach (casual) are not mutually exclusive. They are represented in different ways of thinking and decision-making in entrepreneurship. The effectual approach is non-predictive which is more flexible where entrepreneurs start by focusing on what resources they already have and how to use them. It emphasizes the use of contingencies and partnerships to create markets and opportunities. It thrives on adapting to changing circumstances. (Rizvi, 2023) However, the traditional (casual) approach is predictive rationality which is goal-oriented and it relies on prediction and planning. This approach involves setting specific goals and then taking action to acquire the resources needed to achieve the goals. (Read & Sarasvathy, 2005)

Wallace Lee Kar Shing

 Does Effectuation Mean: "Not Planning"?

 Effectuation doesn't mean not planning. Effectuation is a manner of thinking and making decisions that is predicated on the notion that entrepreneurs, through action and appearance, shape their own destiny. It's an approach of thinking that, as compared to predicting and attempting to plan for the future, focuses on grabbing chances and resolving issues with the tools at what you have. Aside from that, Effectuation is an useful concept. It is a desire to facilitate the development of businesses, goods, markets, services, and ideas in order to better the state of the world and people's lives. Therefore, even though it could appear less strict than standard planning techniques, the focus is really on flexibility and capturing opportunities as they present themselves rather than maintaining a strict schedule. (Sarasvathy, 2019)

References

Da Silva, A. D. F., & De Oliveira Lima, E. (2023, August 8). Effectuation and identity in entrepreneurship: A systematic review. https://www.redalyc.org/journal/5707/570772776020/html/

Killen, C. P. (2022). Effectuation. In Routledge eBooks (pp. 285–309). https://doi.org/10.4324/9780429346033-19

Pal, A. (2023). First Principles Entrepreneurial Effectuation. First Principles Entrepreneurial Effectuation. https://doi.org/10.1109/temsmet56707.2023.10150055

Read, S., & Sarasvathy, S. D. (2005). Knowing what to do and doing what you know. the Journal of Private Equity, 9(1), 45–62. https://doi.org/10.3905/jpe.2005.605370

Rizvi, H. (2023, April 19). Effectual vs Causal Model of Entrepreneurship: Unlocking the Secrets to Entrepreneurial Success! - Hidayat. Hidayat Rizvi. https://hidayatrizvi.com/effectual-vs-causal-model-of-entrepreneurship/

Saravasthy, S. (2019, April). What is Effectuation? Effectuation 101. https://effectuation.org/effectuation-101

Generating Good Ideas for an Entrepreneur

Generating Good Ideas for an Entrepreneur

Wan Ping Yao

Good ideas come from many form of sources and are the ways entrepreneurs generate good ideas. Here are 4 sources and ways good ideas can be generated. Firstly is inspiration. Inspirations come from many places, whether it is from a story we have heard or personal experiences. Inspirations not only provides us the ideas but also the motivation to execute them. In essence, it inspires us when it comes to coming up with good ideas as an entrepreneur. One of the many ways to get inspiration for good ideas are by connecting with people around us and also with people outside of our social circle. (Steve, 2022) Besides that, collaboration also helps generate good ideas and is also a good source for ideas in general. As the saying goes, two heads are better than one. Collaboration not only helps increase the efficiency and productivity of the work, but also helps generate and brainstorm more good ideas as we can learn more from each other. One way to generate more good ideas is by hosting team-building exercises and team meetings. By doing so, team members can have a discuss plans and ideas for a certain project or business matters. (Indeed, 2022)

Other than inspiration and collaboration, innovation is also a key source for generating good ideas. Innovations especially technological innovations can help entrepreneurs come up with not only good ideas, but also good business concepts. Ideas through innovation can bring forth many benefits that are beneficial to the business. One of the many ways of generating more good ideas using innovation is by constantly improving the product and business models through various methods. (Nibusiness, 2024) Last but not least, experimentation is also a great source for generating good ideas. As an entrepreneur, a product or a business requires experimenting to ensure its success. Hence, good ideas often emerge through experimentation. It also aids in our ability to decide on our ideas and tasks with greater knowledge. One of the many ways to generate more good ideas through experimentation is by collecting the data and look at the experiment results. (Saarelainen, 2021) With that, good ideas can be generated. 

Benjamin

Adjacent Possible

"Adjacent Possible," is proposed by scientist Stuart Kauffman. This theory suggests that innovation and creativity occur when new possibilities become reachable from the current state of things. Imagine it as opening new doors of opportunity as we explore and develop our ideas. Each new idea or innovation creates a platform for further exploration, leading to a cascade of potential ideas and opportunities that were previously inaccessible. (Whitworth,2023)

Liquid Networks

"Liquid Networks," as discussed by Steven Johnson in his book "Where Good Ideas Come From." This idea underscores the importance of dynamic interactions and collaborations among people and ideas. In these fluid and adaptable networks, ideas are free to mix, evolve, and combine in novel and unexpected ways. The diversity and interconnectivity within these networks create a fertile ground for the cross-pollination of ideas, fostering an environment where good ideas can grow, evolve, and ultimately flourish. (Martinengo,2019)

Teh Yin Xin

Where Good Ideas Come from?

Good ideas often come from a combination of factors and environments that promote creativity and innovation. The concept of the “Adjacent Possible’ states that at any given moment, the world is capable of extraordinary change, but only certain changes can occur. This means that innovations are limited by the context and knowledge of time and it often build on what already exists. However, it will gradually expanding as new pieces are added to the puzzle. (Jesuis, 2019) Hence, we can take small steps and build upon existing ideas to discover more new possibilities and ideas. Besides, “Liquid Networks” are another source of good ideas. This concept state that environments allow the diverse of individuals where ideas can flow, recombine, mutate freely and generate unexpected connections and ideas. Sometimes, good ideas come from chance we encounter or during an unexpected discovery and this known as “Serendipity”. However, it requires a prepared heart that is able to recognize and seize the opportunities.

 How to Generate Good Ideas?

Good ideas often begin with curiosity, a curious mind questions, and wonders are the seed which good ideas grow. To generate good ideas, one must cultivate the sense of wonder and branching out into the diverse fields of knowledge and experience. For example, stepping outside one’s comfort zone and embracing the diversity of cultures and perspectives. By broadening our horizons, we can allow different streams of thought to come together and create innovative ideas. Furthermore, good ideas often hidden in plain sight, waiting to be discovered by the observant. A regular practice of observation can reveal patterns, anomalies and opportunities that others may have missed. By engaging with a diverse group of people, it provides us with different perspectives and feedback which can enrich our ideas. (Paul, 2015)

Wallace Lee Kar Shing

Where good idea come from?

According to Steven Johnson's concept of the "adjacent possible," creativity and the creation of new ideas are influenced by the environment and the state of knowledge at the time they occur rather than happening at random. For example, think of the possibilities next to you as a room with plenty of doors. Every door points to a possible route or creative possibility, but the doors you can access are limited to those that are next to the ones you have previously opened. Creative ideas can come from a variety of situations and sources. Whether it's seeing a hole in the market or recognizing an issue that needs to be fixed, they frequently originate from observation and engagement with the world around us. The sharing of ideas and insights during brainstorming and collaboration sessions with teammates or peers can also result in the generation of new concepts. Moreover, environments that promote experimentation and risk-taking, where failure is perceived as a positive learning opportunity rather than a setback, are conducive to creativity. Last but not least, serendipity comes into play since unexpected connections or chance meetings can provide ground-breaking discoveries. (Paul Jenkins, 2023)

 How to Generate Good Ideas?

Rather than expecting immediate inspiration, we should actively seek out "slow hunches" and allow ideas to stew and evolve over time. This includes instilling curiosity and maintaining a feeling of wonder about the world around us. Keep a notebook or idea notepad for writing down any thoughts, observations, or connections that come to mind, even if they seem unimportant or incomplete at the moment. Capturing and revisiting these early ideas allows them to grow and develop into fully fledged concepts. In addition, immerse oneself in environments that foster creativity, such as attending workshops, exploring nature, or participating in artistic activities. (Brett Friedman,2020)

Reference

Busch, C., & Grimes, M. (2023, July). Serendipity in Entrepreneurship, Strategy, and Innovation—A Review and Conceptualisation. ResearchGate. https://www.researchgate.net/publication/372383793_Serendipity_in_Entrepreneurship_Strategy_and_Innovation-A_Review_and_Conceptualisation

Hogarty, S. (2022, September 28). What is inspiration and why is it so important? Ideas. https://www.wework.com/ideas/professional-development/creativity-culture/what-is-inspiration-and-why-is-it-so-important

Indeed Editorial Team. (2022, June 25). Collaboration ideas to boost creativity in the workplace. Indeed Career Guide. https://www.indeed.com/career-advice/career-development/ideas-for-collaboration

Jesuis, K. (2019). Where good ideas come from Steven Johnson. ResearchGate. https://www.researchgate.net/publication/332810816_Where_good_ideas_come_from_Steven_Johnson

Martinengo, G., & Martinengo, G. (2019, August 17). Liquid networks facilitate innovation | Giuseppe Martinengo. Giuseppe Martinengo | Faith and Leadership. https://giuseppemartinengo.org/liquid-networks-facilitate-innovation/

NI Business Info. (2024). Common approaches to innovation | nibusinessinfo.co.uk. https://www.nibusinessinfo.co.uk/content/common-approaches-innovation

Paul, K. a. H. a. N. (2015, October 21). 5.6 Observation for idea Generation. Pressbooks. https://open.lib.umn.edu/infostrategies/chapter/5-6-observation-for-idea-generation/

            Saarelainen, E. (2021). Why there’s no innovation without experimentation. UNHCR. https://www.unhcr.org/innovation/why-theres-no-innovation-without-experimentation/#:~:text=It%20is%20about%20answering%20your,the%20assumptions%20behind%20the%20concept.

Whitworth, E. (2023, April 25). The adjacent possible: Steven Johnson explains reachable ideas. Shortform Books. https://www.shortform.com/blog/adjacent-possible-steven-johnson/#:~:text=The%20adjacent%20possible%2C%20Steven%20Johnson%20explains%2C%20is%20a%20theory%20developed,information%2C%20resources%2C%20and%20abilities.

https://brilliantio.com/where-good-ideas-come-from/

https://www.marpipe.com/blog/how-to-get-a-good-idea

Concept, Tools and Ways for Managing Risk

The Concept, Tools and Ways of Managing Risk

Wan Ping Yao

Concept and Tools

A good concept for risk management is risk assessment. Risk assessment is a procedure used to find possible risks and examine the possible outcomes of a hazard or disaster. There are various risks to take into account, and each risk may have a variety of potential outcomes either within or as a result of it. (Ready, 2024) Risk assessment can help organizations understand more about the risks that they are currently facing. The tools involved in risk management include decision trees and cause and effect diagram, otherwise known as the fishbone diagram. Firstly, decision trees. Decision trees is a tool that can help organizations analyze potential outcomes and consequences of a risk. It does this by creating a visual representation that looks like a tree. It begins with a question node, branches out into multiple decision-making pathways, and ultimately produces a range of results. Decision trees also helps organizations to make well-informed decisions when facing a risk. (Miro, 2024) Next is the fishbone diagram. The fishbone diagram, sometimes also known as the Ishikawa diagram is a risk management tool that identifies causes and effects of a risk through depicting the elements that go into a problem. (Elaoufi, 2023) The fishbone diagram helps organizations to facilitate brainstorming and stimulate problem solving within the organization. (Allison, 2023)

How to manage risk

As an entrepreneur, there are 5 steps in managing a risk in an organization. Firstly, identify the risk. Risk identification is important as it helps organizations to recognize potential problems and how you might be able to avoid them. (SafetyCulture, 2023) The next step in managing a risk is by performing risk assessment as mentioned in the previous paragraph. This helps organizations to acknowledge the severity of a risk and it is important for the following steps. After assessing the risks, it is important to prioritize the risks faced by the organizations. Risk prioritization can assist organizations in swiftly determining which threats are the most urgent and allocating resources accordingly. It functions by giving each risk a score based on its likelihood and impact. It then shows a graphic depiction of the highest priority hazards, making it simple to compare risks and facilitate effective decision-making. (Scytale, 2023) After prioritizing the risks, organizations will then have to come up with responses and measurements and implement them in order to avoid those risks. This can lessen the possibility of negative impacts and assure project success. (Pm-Infotech, 2023) Lastly, with the risk responses implemented, organizations can make improvements and supervise the enforcement of those risk responses to ensure the effectiveness of the risk responses implemented.

Teh Yin Xin

Risk Management Concepts and Tools

Risk management is an aspect of organizational strategy and the concept of Enterprise Risk Management (ERM) stands out as a comprehensive approach. Compared to traditional risk management, ERM covers a wide range of risks and integrates them into strategic decision-making. It fosters a risk-aware culture that aligns with the achievement of strategic objectives. (Staff, 2024a)

One of the tools for risk management is the PESTLE analysis. This analysis helps the organizations to identify and assess risks arising from political, economic, social, technological and environmental factors. It is a strategic tool that allows the organization to consider the potential risks proactively. (Staff, 2024)

Managing Risk as an Entrepreneur

As an entrepreneur, a risk management plan is needed to mitigate the risks associated with starting and running a business. It is a systematic approach to identifying, assessing and controlling the risks to minimize their impact on the business while maximizing the chances of success. By having a risk management plan, an entrepreneur can address the potential issues before they become major problems and also to ensure the long-term success of a business. (Team & Team, 2023b)

Other than that, entrepreneurs should conduct a risk assessment for the business. A risk assessment helps to identify the areas where the business is most vulnerable and it prioritizes the risk management efforts. Examples of conducting a risk assessment are SWOT analysis and decision trees. Furthermore, entrepreneurs should mitigate the financial risk of the business. For example, entrepreneurs can create a detailed financial plan, maintain an emergency fund, explore alternative financing options and also establish a strong relationship with financial institutions. (Kumar & Kumar, 2023)

Benjamin

Managing risk as an entrepreneur involves adopting an effective Enterprise Risk Management (ERM) approach, which should be viewed as a strategic tool to strengthen the organization's risk oversight. ERM seeks to develop a comprehensive, top-down view of significant risks that could impact the achievement of the business's most important objectives. By integrating ERM into the strategic planning process, entrepreneurs can gain valuable insights into potential risks and proactively design strategies to navigate uncertainties, thereby reducing the likelihood of disruptions to their business operations and enhancing their preparedness to mitigate the impact of unforeseen risk events.(ERM,2024)

Entrepreneurs should leverage the insights from the ERM process to inform their strategic decisions and risk management practices. By being proactive in identifying and addressing potential risks, entrepreneurs can gain a competitive advantage, ensuring that their business is well-prepared to adapt to changing environments and seize new opportunities. This proactive approach to risk management is essential for entrepreneurs to safeguard their business's success and resilience in the face of uncertainties and challenges.(AFP,2023)

Wallace Lee Kar Shing

Concept and Tools of Risk Management

Risk management is the process of determining, evaluating, and managing risks to an organization's capital and earnings on a legal, strategic, financial, and security basis. Other than that, If an unexpected incident catches the business off guard, it might only have a little effect on your overhead expenses. In the worst situation, though, it may be disastrous and have dire consequences, like a heavy financial load or possibly the closing of your company. One of the tool of Risk management is risk reduction. Rather than totally preventing loss, this approach of risk management aims to reduce it. It remains committed to controlling the loss and preventing it from growing even after acknowledging the risk. Preventive care is one instance of this in terms of health insurance. (IBM, 2024)

How to manage risk as an Entrepreneur

Being an entrepreneur means taking a whole-hearted approach to risk management. First and foremost, it's critical to recognize possible hazards related to various company facets. Entrepreneurs should assess each risk's possibility and its consequences after it has been found. After that, they can create risk-reduction plans that include diversification, emergency preparation, or insurance. Even though certain risks might have to be taken keeping an eye on the business environment over time makes it easier to adjust as things change. It's crucial to ask mentors for guidance maintain financial stability and keep up with market developments. It's also critical to learn from mistakes and incorporate those lessons into upcoming risk management plans. Entrepreneurs may increase their chances of success and navigate uncertainty with more confidence by combining these approaches. (Talmage-Rostron, 2024)

Tan Shu Rou

Risk management

The concept of risk management is to reduce the negative impacts on a business through the implementation of various strategies. It is the process of identifying, assessing and controlling threats to an organization’s capital, earnings and operations (Tucci, n.d.). It is crucial in businesses today due to the rapid pace of globalizations causing new risks to emerge every passing day.

Here are a few risk management tools:

-           -  SWOT analysis is a strategic tool that helps businesses identify their Strengths, Weaknesses, Opportunities and Threats

Reference

AFP Staff. (2023, December 18). Trending topics in Treasury and finance. AFP. https://www.afponline.org/training-resources/resources/articles/Details/7-steps-to-an-effective-risk-management-process

Elaoufi, I. (2023, February 22). Ishikawa for risk management. https://www.linkedin.com/pulse/ishikawa-risk-management-ibtissam-elaoufi/

IBM. (2023). What is Risk Management? https://www.ibm.com/topics/risk-management

Kumar, K., & Kumar, K. (2023, July 12). “The most common risks entrepreneurs face and how to mitigate them.” CEF Insights. https://cefinsights.com/the-most-common-risks-entrepreneurs-face/

Lynch |, A. (2023). Benefits of Fishbone diagrams. Edraw. https://www.edrawsoft.com/fishbone-diagram-benefits.html

Miro. (2024). Decision Tree Analysis in Risk Management. https://miro.com/diagramming/decision-tree-analysis-in-risk-management/

Pm-Infotech. (2023, August 25). Risk Response planning. https://www.linkedin.com/pulse/risk-response-planning-pmptemp/

Ready. (2024, March 1). Risk Assessment. Ready.gov. https://www.ready.gov/business/planning/risk-assessment#:~:text=A%20risk%20assessment%20is%20a,to%20complete%20your%20risk%20assessment.

SafetyCulture Content Team. (2023, December 13). Risk identification: Importance & process. SafetyCulture. https://safetyculture.com/topics/risk-identification/

Staff, E. I. (2024, April 9). ERM tool: Using PESTLE analysis to identify potential external risks. Enterprise Risk Management Initiative. https://erm.ncsu.edu/resource-center/erm-tool-using-pestle-analysis-to-identify-potential-external-risks/

Scytale. (2023, August 11). What is Risk Prioritization. https://scytale.ai/glossary/risk-prioritization/

Staff, E. I. (2024a, April 5). What is Enterprise Risk Management (ERM)? Enterprise Risk Management Initiative. https://erm.ncsu.edu/resource-center/what-is-enterprise-risk-management/

Talmage-Rostron, M. (2024, February 6). Types & Importance of Risk taking in Entrepreneurship 2024. Nexford University. https://www.nexford.edu/insights/risk-taking-in-entrepreneurship

Team, A., & Team, A. (2023b, February 1). How to manage risk as an entrepreneur. AIContentfy. https://aicontentfy.com/en/blog/how-to-manage-risk-as-entrepreneur

Adapting to the Development of Society 5.0

How to adapt Society 5.0 and its development, including learning and developing some essential entrepreneurial skills?

Wan Ping Yao

How to adapt

As an entrepreneur that has the ability to adapt to any changes in the surroundings, adapting to society 5.0 is merely one of the many things that requires adaptation and it society 5.0 can be adapted by integrating various digital technology into organizations. That way productivity can be greatly enhanced and it also helps encourage more innovative ideas within the organization. Not only that, it also drastically improves the security of the organization. This can help to protect important information such as trade secrets from leaking out from the organization. (Buchanan, 2023) There are many examples for organizations integrating digital technology into their organizational processes. For example, fast food restaurants such as McDonalds and Kentucky Fried Chicken implemented using kiosks in every of their branches across the globe as well as mobile apps to help speed up the ordering process for their customers. Besides that, Touch 'N Go developed the Touch 'N Go eWallet app to allow users to process peer-to-peer transactions, digital card top up and various other commercial activities. This helped promote the concept of ecommerce to all walks of life and helped Malaysia's financial world to become more digitalized.

Skills learned

As an entrepreneur in society 5.0, there are a lot more skills required to learn and develop in order to adapt to society 5.0. Critical thinking skills is one of the many skills required in society 5.0 as an entrepreneur. In society 5.0, it is a human-centered society in which social issue resolution and economic growth are compatible when they occur within a fully interconnected system of physical and virtual space. (Cabinet, 2024) This means that it is required for humans to have such a skill in order to achieve and build such a society. Critical thinking helps us to make logical connections between concepts, examine and assess arguments, look for mistakes and inconsistencies in your own and other people's work, resolve challenging issues, and practice reflection. With this, it also helps us make better decisions in the workplace. In addition, here are some of the ways to achieve critical thinking. Firstly, evaluate new information. Critical thinkers evaluate information upon receiving it as to search for the truth. Next is to consider the source of the information. Critical thinkers does this as to evaluate any potential bias and to verify the authenticity of the information. Furthermore, ask a lot of important questions. Start by asking the basic who, when, where, why, what, and how. This helps critical thinkers to also evaluate the information even better. Moreover, follow up with research. Before forming any opinions regarding the information received, do more research and look up for more information and sources regarding the information received. This helps critical thinkers to find the answers required for the questions asked in the previous step. Lastly, forming an opinion. With this being the final step, it helps critical thinkers to form their opinion based on logics and facts regarding the information received. (Indeed, 2023) With this one can achieve critical thinking skills.

Benjamin

    Society 5.0 is based on computers collecting and processing real-world data in order to enhance different elements of living.  Furthermore, society 5.0 integrates systems across society with the goal of improving comfort and enjoyment in all aspects of life. For example, energy, transportation, healthcare, and education. This complete system collects large amounts of real-world data and processes it using modern IT technologies such as Artificial Intelligence to provide useful information. Importantly, in Society 5.0, this information has a direct impact on human activities and behaviour, resulting in a cycle in which data is gathered, analysed, turned into useful information, and deployed across society.(Deguchi,2020)

   To add on, integrating entrepreneurship training with data literacy education can help us better adapt to Society 5.0's ideas. When educational programmes incorporate entrepreneurial skills with data literacy, they more closely correspond with Society 5.0 thinking, which emphasises data-driven decision-making and human participation. This combination of skills allows people to improve their critical thinking, problem-solving abilities, and creativity. Individuals who have hands-on experience with data may identify market trends, understand customer requirements, and even discover new potential consumers, putting them on track for success in the data-driven world.(Carayannis,2022)

    On the other hand, incorporating individuals in data-driven projects has the potential to transform Society 5.0 and the development of entrepreneurial skills. Projects such as Barcelona's "smart citizen" project demonstrate the ability of community engagement in solving real-world problems. Participating in these initiatives allows people to develop vital skills such as data analysis, teamwork, and project management. This hands-on experience not only provides students with practical skills, but it also encourages a mindset of entrepreneurship. It inspires people to think creatively, recognise possibilities, and provide new solutions to  issues, all of which contribute to the success of a well-managed business.(Tavares,2022)

Tan Shu Rou

What is Society 5.0?

Society 5.0 also known as the “Imagination Society” is an ideal concept of the next society spearheaded by Japan. It is a society that focuses on “problem-solving” and “value creation” by integrating digital technology to achieve a sustainable development in society. People will be set free from the gap caused by the monopoly on resources and information thus giving everyone a fair chance to contribute to society to pursue the lifestyle they desire (Nakanishi, 2019).

How to adapt?

It is crucial for society to learn how to see beyond the information given. Unlike society 4.0 where the emphasis is on information, society 5.0 requires people to constantly think about problems and come up with solutions. There will be a need for people to learn higher-order thinking skills beyond memorizing information as the meticulous process of creating knowledge from information will be taken over by artificial intelligence (AI). (Nagy, 2019) For example, problem-solving skills, critical thinking, and social creativity.

This is where education plays a huge role in the transition between society 4.0 and society 5.0. It will be important for schools to incorporate higher-order thinking skills in the syllabus from a young age to create a more creative and curious society. Teachers will need to be equipped with soft skills so they can guide students in the correct direction instead of teaching students directly. It is important to help students realize the importance and fun of learning leading them to walk on a path of continuous learning even after leaving school. In addition, it is found that online learning environments are also beneficial in the coming society 5.0. The use of visual media as part of teaching has been proven to be useful in developing student’s critical thinking skills (Lazo, 2014). This shows the importance of technology in education. 

Wallace Lee Kar Shing

A new civilization known as "society 5.0" is one in which technological advancement prioritizes humanity and looks for significant answers that will benefit people everywhere. The concept came from Japan, which is a key center for innovative technology. Industry 4.0 technologies like Big Data, Internet of Things, self-driving vehicles, 3D printing, and so forth are included into Society 5.0. With the help of artificial intelligence, vast volumes of data collected through the Internet of Things will be translated into "new wisdom," improving human potential and enabling us to lead happier lives. (SYDLE, 2022)

As technology evolves, business models grow, collapse, and pivot. To proactively adjust to the disruptive shifts that technology provides, we need to predict how the latest technological capabilities are going to affect society and the direction in which society is moving. It is helpful to study industry paradigm transformations, such as farming to industrial to information era, as well refer to our present corporate environment as Industry 4.0, which is the fourth industrial revolution brought about by digital technology. This is taken a step further with the Japanese concept Society 5.0, which encompasses the notion of using modern digital technology to address social issues such as inequities and an ageing population. In essence, a highly intelligent civilization. (Cantermir Mihu, 2021)

Teh Yin Xin

The sheer pace of technological advancement in Society 5.0 demands a commitment to lifelong learning. Entrepreneurs must be able to identify emerging technologies and their potential impact on a particular field. For example, online courses, hackathons and industry conferences can provide valuable avenues for continuous learning. Besides that, the rise of automation and Artificial Intelligence (AI) necessitates a focus on unique human skills. Although technology might able to handle repetitive tasks, it cannot replicate human creativity, empathy and critical thinking. (Duggal, 2024) Entrepreneurs have to hone their design thinking abilities, allowing them to identify problems, develop innovative solutions and adapt their business models based on user feedback. Additionally, strong communication and collaboration skills become important. By building trust with diverse teams and conveying ideas effectively, it can lead to a success in a hyper-connected world.

Other than that, Society 5.0 creates a global marketplace where it demands a shift in perspective. It is essential for entrepreneurs to understand different cultures, adapt marketing strategies to diverse audiences and navigate complex regulations in a globalized environment. This helps to develop strong intercultural communication skills and cultural intelligence. The entrepreneurial spirit in Society 5.0 is not about simply starting a business anymore. (Ziatdinov et al., 2024) However, it’s about cultivating a “problem-solving mindset” that applies across various domains. As data becomes new currency, entrepreneurs must consider the ethical implications of their ventures. For example, it is crucial for them to build trust with customers through data privacy and responsible AI use to achieve a long-term success.

Reference

Buchanan. (2022, January 10). Technology in the Workplace: The Importance, Benefits, and Advantages. Buchanan Technologies. https://www.buchanan.com/benefits-technology-workplace/

Carayannis, E. G., & Morawska-Jancelewicz, J. (2022). The Futures of Europe: Society 5.0 and Industry 5.0 as driving forces of future universities. Journal of the Knowledge Economy, 13(4), 3445–3471. https://doi.org/10.1007/s13132-021-00854-2

Da Conceiçâo Tavares, M., Azevedo, G., & Marques, R. P. (2022). The Challenges and Opportunities of ERA 5.0 for a More Humanistic and Sustainable Society—A Literature Review. Societies, 12(6), 149. https://doi.org/10.3390/soc12060149

Deguchi, A., Hirai, C., Matsuoka, H., Nakano, T., Oshima, K., Tai, M., & Tani, S. (2020). What is Society 5.0? In Springer eBooks (pp. 1–23). https://doi.org/10.1007/978-981-15-2989-4_1

Duggal, N. (2024, March 21). Advantages and Disadvantages of Artificial intelligence [AI]. Simplilearn.com. https://www.simplilearn.com/advantages-and-disadvantages-of-artificial-intelligence-article#:~:text=in%20cost%20savings.-,7.,and%20produce%20truly%20creative%20works.

Indeed . (2021, February 23). What’s the Importance of Critical Thinking in the Workplace? Indeed Career Guide. https://www.indeed.com/career-advice/career-development/importance-of-critical-thinking

Lazo, V.G. (2014, February). Developing thinking skills through the visual. ResearchGate. https://www.weforum.org/agenda/2019/01/modern-society-has-reached-its-limits-society-5-0-will-liberate-us/

Nagy, K. (2019, December 31). Building Pillars for Adapting Society 5.0 in Post-Conflict Countries. ScienceDirect. https://www.weforum.org/agenda/2019/01/modern-society-has-reached-its-limits-society-5-0-will-liberate-us/

Nakanishi, H. (2019, January 9). Modern Society has reached its limits. Society 5.0 will liberate us. World Economic Forum. https://www.weforum.org/agenda/2019/01/modern-society-has-reached-its-limits-society-5-0-will-liberate-us/

Society 5.0: Do You Know this Term? Learn About How It Works. (2020, November 27). Blog SYDLE. https://www.sydle.com/blog/society-5-0-5fc163e1725a642683ed9230

Society 5.0. (n.d.). Cabinet Office Home Page. https://www8.cao.go.jp/cstp/english/society5_0/index.html#:~:text=In%20the%205th%20Science%20and,and%20physical%20space.%22%20In%20order

Sounding out The new way of doing business in Society 5.0. (2022, April 26). CXO. https://www.nttdata.com/cxomag/article/sounding-out-the-new-way-of-doing-business-in-society-5-0/index.html

Ziatdinov, R., Atteraya, M. S., & Nabiyev, R. I. (2024). The Fifth Industrial Revolution as a Transformative Step towards Society 5.0. Societies, 14(2), 19. https://doi.org/10.3390/soc14020019