The Entrepreneur's Guide to the Art of War: the Original Classic Text Interpreted for the Modern Business World by Mark Smith

Author:Mark Smith [Smith, Mark]
Language: eng
Format: epub
Tags: Philosophy
ISBN: 9781398809840
Publisher: Arcturus Digital Limited

REVOLUTIONIZING AN INDUSTRY

One traditional sector that has been radically overhauled in recent years is the education industry and, like most things, the speed of that change has increased rapidly due to the fallout from the COVID-19 pandemic.

It is doubtful that most parents would have utilized technology in their children’s educations prior to 2020, when schools around the world were forced to curtail their regular teaching practices and introduce alternatives such as remote online learning.

But while this may have sped up the rollout of tech-based educational solutions, as with concepts such as flexible working, the building blocks were already in place.

The term ‘edtech’ is an abbreviation of ‘educational technology’ – essentially the practice of using apps and software to facilitate learning.

Before co-founding edtech company NewCampus, Singapore-based Australian entrepreneur Fei Yao worked in a variety of roles around the world, including with Engineers Without Borders on an innovative water purification project in Cambodia, and as a management consultant at Accenture in Australia.

The company is billed as a lifelong learning school for professionals. The instructors are global entrepreneurs who are live-streamed into small group classes.

The curriculum focuses on topics that prepare people for a changing world, including emerging technologies, trending industries and digital skills, and NewCampus offers live workshops, masterclasses and virtual conferences.

Her work in the field has been recognized by Forbes 30 Under 30 and has seen her named among AmCham Shanghai Future Leaders of the Year and CMO Asia Top 50 Women Leaders.

‘Disrupting a market to me means shifting the fundamental attitudes and behaviours of a segment of users,’ says Fei.

Once again with the concept of disruption we return to the concept of shifting customers’ expectations. In this context, disruption is not about deploying a clever piece of tech that allows you to overtake a competitor. It goes deeper than that: it is about changing the perceptions of people, perceptions that may have been ingrained for decades or even centuries. It is about redefining what is possible.

She says: ‘It’s not really disruptive if your users are people who are choosing you over a competitor, but it becomes very interesting if your users are people who have never engaged with your type of product.

‘At NewCampus we’re most excited by the more mature students who have been in stable jobs for a long time after a previously “reliable” degree but have dramatically changed their view on the place of education in the career.’

So again in this context, the disruption is not just about NewCampus developing a new offering that allows it to compete with existing educational institutions. Just as was true for Airbnb, the disruption redraws the boundaries – of what further education is and where it is delivered, for both customers and the wider market. Customers are drawn to it over more traditional or established competitors, and their perception of what education is and what it can help them achieve has been altered.

Many traditional educational institutions were already observing how the edtech sector was shifting these boundaries. The pace of change has

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