“Software is eating the world”; the first time we heard about that was back in 2011 and more than 10 years later we can say it really did so. Technology is something that grew exponentially in today’s business world and became important for innovation and staying ahead of competition by providing a competitive advantage.

This trimester, as part of the master’s in business management I am currently enrolled in, I attended a class on technology-based business models, where we learned at first hand how the collaboration between different C level positions impacts and organization trough a three-month project. As part of the material covered in class, we reviewed crucial contents for technology based business such as blockchain, 3D printing practices, AI models, AR and VR technologies, different types of business models, methodologies to land ideas between other useful tools.

The significance and influence of the collaboration across various C-level positions inside a firm was one of the major learnings from the class. We discovered that a technology-based business model needs a multidisciplinary approach, involving the collaboration of specialists from several fields, including finance, marketing, operations, and technology.

Blockchain was a crucial technology that we discussed. We looked at the applications of blockchain technology across a range of sectors, including supply chain management, banking, and logistics. In addition, we learnt how the blockchain has the power to completely alter the way we conduct business, particularly in terms of security and transparency.

We also had a glance into the world of 3D printing, which is revolutionizing the way products are manufactured. During an interactive visit at Mostla Lab we saw various types of 3D printing technologies, their applications and benefits, such as rapid prototyping, customized manufacturing, and low-volume production. Even though this technology has been around for a while, the potential impact of 3D printing on traditional manufacturing industries is still impressive as well as how businesses can leverage this technology to stay ahead of the competition.

The lecture also covered another important subject called artificial intelligence (AI). We learned about various AI models, including deep learning and machine learning, and how they may be used in a range of sectors, including retail, finance, mobility, and healthcare. The ethical ramifications of AI, such as employment displacement and bias, and how corporations might handle these challenges were also highlighted.

In addition to these technological concepts, we also learned about methodologies related to startups and business models. The Lean Startup methodology was a key focus, which emphasizes rapid experimentation and iteration to quickly validate a business idea. There is a canvas called: the Lean Business Model Canvas, which is a framework for creating and testing a business model. This tool helps startups to visualize their unique value proposition that solves a particular and well-defined problem with help of unfair advantages. It also allows startups to quickly iterate and to stay agile during the whole journey. We also explored different business models, such as the subscription model, the freemium model, and the platform model, and how businesses can choose the right model for their specific industry and target market.

In conclusion, the class provided practical skills and valuable knowledge that are vital to succeed in today’s business world. If I could sum up some of the most important learnings in a few words, that applied not only in the classroom but in the real world, is that a good team is the most important thing that you can have. Proof of this is that at the end of the day, “you bet on the jockey and not the horse”.