In today’s world, business organisations are running a race for being at the top position. For that purpose, they are employing various tools and strategies that can catapult them to the success in their field. One such way is the technological inventions, especially the newly invented 5G technology. In this report, business canvas model of Queensland University of Technology considering the 5G technology is presented. In addition to this, technology analysis is also done in regards with QUT. Furthermore, a discussion on the impacts of value preposition of customer is also done. Some business strategies to iterate the operation of QUT and its business model are also enlisted. Moreover, missions, vision, business objectives, and tactics are also discussed along with the cost-benefit analysis of the 5G technology. A product roadmap is also provided outlining features and stages. At last, the risks and issues associated with the implementation of 5G technology in QUT are also outlined and recommendations are also enlisted.
Queensland University of Technology (QUT) is one of significant educational institutions of Australia. The university came into existence in the year 1989 and is headquartered in Brisbane. At present, it consists of over 50000 scholars from various countries as well from Australia. The yearly budget of the institution is $ 900 million. At present, the university runs both online and offline courses. Apart from this, lectures can be attended through online videos uploaded by faculties. Scholars are expected to submit their assessments through online moodle and they have unlimited access to e-library resources, video lectures, and other relevant resources.
Talking about the 5G technology, it is the emerging innovative technology in the field of telecommunications. It is considered to be the iterations in the telecommunication sector. This technology has certain characteristics, such as high speed network, low latency, wireless, and offering a wide range of services to businesses and administrative institution. In addition to this, this innovation also helps in increasing the efficiency of conducting a task by providing a better access to information and data. Due to low latency than its predecessors, the 5G technology and services reduces the time consume by the information to travel from sender to receiver. It has high bandwidth providing better speed.
· Subsidiaries and affiliated institutions
· IT companies
· Telecommunication service provider
· Research scholars
· Research institutions
· Private partners
· Media partners
· Carry out research in the development of new technology
· Offers Bachelors, Masters, and Doctoral courses and Programs
· Online courses for distance learning
· Train the scholars and make them learn new software and tools.
· Conducting conferences and webinars on latest development in different field.
· To welcome new ideas from faculties, scholars, alumni, and other key partners and carry out innovation in the different field.
· To be an example in the world for leading the researches in the field of IT and telecommunication and bring significant changes in the fields.
· Improvised guidance and Personal assistance to student
· Enhanced Student Eccentricity
· Improvised pace of conducting operations
· High budget
· Innovative IT Department and human resource
· Government Grants onResearch projects
· Online Sources
· Offline Sources
· Operational Cost
· Fee, and Taxes
· System and Machinery Cost
· licensing fees
· Development Charges
· Institutional Fees
The business model canvas of QUT presented above is giving proper attention to the implementation of the proposed technological trend i.e., 5G technology. The result of using 5G in the current operations would help the QUT to improve its connection and reach with students. They would be able to have a better access of universities facilities, such as online lectures, e-library, and much more. In addition to this, improved eccentricity towards students would help in increasing student satisfaction. This would further result in increment in the student intake. It may also result in getting high grants from government as faculties and scholars would have a better access to information and they can contribute effectively to the government’s research undertaking. With the improvised network, it can be able to satisfy its key partners and this would add more funds or revenues to the accounts.
The key beneficiaries of 5G systems in QUT comprise a large number of stakeholders. These includeGovernment Agencies, Research Scholars, IT companies, Alumni, and Research institutions. These people are directly impacted by the augmentation in the current 3G/4G based systems of the university.
Talking about the customer journey, there are five stages of customer journey. The first one is awareness in which the beneficiary are made aware by the university about the benefits of 5G network. The second stage is about showing interest. The client would get influenced by the awareness drives and would show some interest in making use of 5G systems. The next one is engagement, wherein the university would try to engage clients with its various offering and services based on 5G. This would build a better understanding among them. Once this is done, the client would show keen interest and would prefer to use the 5G systems rather than 3G or 4G. The last is affinity wherein the customer shifts completely to 5G.
The QUT is aiming at incorporating 5G Technology in all the operations, especially in the tutoring and lecturing practices
To provide hassle-free access to university resources and related information to key partners by improvising current operations
Tactics for Deploying 5G
Making the beneficiaries understand the benefits as a whole. It is required from QUT to take some collaborative actions that focuses on improvised current services and client experience, issues in the current operation related to network, and unlocking the economies of scales
This part would talk about the success story of Ericson and how it implemented the 5G technology in its operations. In the very first stage, it developed a prototype version of machine that works on human and IoT interaction. With its 5G network, the company was able to improve machine’s interaction with humans. The 5G system facilitates the organisation to fill the gap between machine and people. In the later stage, it employs 5G systems in the sensor network domain. This resulted in expanding business opportunities through automaton and monitory capabilities. From the case study, it is cleared that bringing sudden change in the operations would result in failure. Hence, 5G systems or network should be deployed in operations one by one.
The overall cost for this initiative is set to be AU$70,000. It is important to understand that the bifurcation of the total budget costs. The first one is direct cost that comprises licencing cost, antenna installation cost, router purchase, software, and desktops purchasing cost, along with internet connection cost.
Talking about the benefits of 5G technology, it would increase the customer satisfaction that would further affect the revenue generation positively. The overall cost incurred can be gained back within 1 year only. Hence, the benefits of deploying 5G technology are more than the cost. Therefore, the project is economically feasible.
The Fifth generation technology can be deployed in four stages. These are development of prototype and running its trial, Development of 5G standards, Upgrading the current Systems, and Lastly, the deployment of 5G across the operations of QUT. It is important to note that the whole process is required to be employed or completed within the set deadline which in this case is the end of March, 2020. Each stage has a pre-defined time period that is required to be followed.
Talking about the stages in the road map, each stage is crucial and is developed while considering the objectives of the university, its vision and mission. These are explained below:-
No doubt that 5G technology has a plethora of options and opportunities for the development of QUT in its respective domain, but there are many risks and issues associated with it. These are:-
Here are certain recommendations for the deployment of 5G Technology in the processes and operations of Queensland University of Technology:-
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