Question

Without a doubt these databases kept by entities like Equifax and the Chinese government encourage people to rethink bad behavior, and can therefore have a positive effect. Be sure to address the following:

1. Do you think people should have any ownership of their own data?
2. Should people have the right to know who collects and stores data about them? Should people decide who can collect and store data about them?

The New Economy article says that Chinese citizens are suspicious of businesses because of the prevalence of fraud. Open reviews can certainly build trust.

3. How does the Chinese system of ranking businesses compare to Amazon's user reviews?
4. As these systems become more sophisticated and intrusive, at what point is a trade off with privacy and personal independence no longer

How did the founders of Rent the Runway go about testing their original idea?

What concerns did suppliers and designers have? How did Rent the Runway’s founders dispel these concerns? Describe how the firm seeks to build deep and mutually beneficial industry partnerships.

Answer 1

Ans 1: Ownership of data is a very debatable topic and it has its pros and cons in practical life. It is very difficult to attribute ownership of Individual personal data. My date of birth, for example, is likewise a date my mother has a baby in particular hospital facilities. Data is handiest meaningful when extra metadata is provided. 24/01/1991 is just a series of numbers and forward slashes, but it profits a few meanings whilst it is identified as a date, and a few greater when it is diagnosed as the date of birth, and so on. Data is added meaning by metadata and it is very important to sort out the individual claim.

Ans 2: We are generating an enormous amount of data through our mobile, desktop, etc. Data breaches are very common these days. Regulations like CCPA and GDPR have impacted how businesses can store, maintain and collect personal information from end-users. Yes, we have every right to know who is collecting and storing our private data. Data privacy regulations are very strict and comprehensive to provide legal protections to consumers' data.

The level of information gathering is considered a vital dimension in the digital age. It will be very complicated if data storage and sharing decision will be controlled by each individual. But, the majority of the population wants their approval before using their data as revealed by the surveys.

Ans 3: Chineses sellers are using the Amazon platform effectively and these sellers are using lots of tactics to manipulate the amazon user rating and increase the overall profitability. Amazon user reviews are the best tool to show the quality of the sellers and attract more customers to the store. Many organizations in China sell positive and negative ratings and reviews. They are targeting other countries' sellers with a malicious negative rating and reviews, Which are helping them to dominate the platform. Chinese are using many strategies like Counterfeit products, damaging competitors’ product listing, Stealing amazon data, variation abuse to get ahead in the marketplace. Fake review companies are opening lots of fake accounts and emulate real consumer buying behavior to alleviate Amazon's suspicions.

Ans 4: There are data privacy regulations, which are trying to regulate and maintain a trade-off between privacy and personal Independence. It is of utmost importance to manage, maintain and allow control of our data very smartly.

Rent the runway is "Netflix of dresses" offer ladies to rent the designer gown for a fraction of original prices. They have adopted the approach of learning by dying and running different experiments. They have participated in various college events, pitched their business model and showed their designer collection. They have built the databases and started sending emails. They have tried and failed regularly without fashion and technology experience. They have followed a big dream with their abilities and became successful.

Designers and suppliers were afraid of Uncertainty. They were skeptical about the new concept, which was still in the incubation phase. Founders had dig deeper and figured out their market and plan. Founders were able to convince suppliers and designers that they are creating a channel to reach customers with a high retention rate. They have mapped the product with potential customers and created high customer lifetime values.

The mutually useful partnership is like a glad marriage. And like a successful marriage, strategic partnerships aren’t something you just take a seat lower back and wish for. You should paintings proactively to create and maintain them. It should have balance and transparent communications between all the parties to maintain win-win partnerships. The quality partnerships work because the imaginative and prescient, values are shared in addition to passion and enthusiasm. These can deliver the partnership via any sticking factors in negotiations.  Lack of follow-through by any party could produce stress and strain in the future. Judicious and excellent planning are vital to maintaining strong relationships. It helps companies to rethink and gauge their success to perform better as the partnership moves forward.