Group 10

Assignment 3!!

Fun!!  That was one of the word that I think can fully describe the last week class with Miss Elaine J We have been through a business-boom situation which was very out of the box and unexpected.

WHAT DID I HAVE LEARN

From the last week module, I have observed that during a boom, there are certain levels of economic growth. I can see that the employment levels are high and wages may rise as businesses try to attract employees. Besides that, the consumer confidence is strong and consumers have a positive outlook on the state of the economy and products evolved. I can see the true situation in the entrepreneurship field and can analyze the hardships, passion and also the business spirits in people who involved. The suppliers struggles to sell and distribute their stocks to the entrepreneur, whereas the entrepreneur would hire their employees as much as possible, and later the process of gaining customer’s trust and so on being elevated. This scenario was really helpful as I can get the rough idea and good view about business and the win-win situation through this. By recruiting their own employees, the process of selling the products would be handed over to the employees and the employees can gain the salary. The customers would invest their money to get the products or service offered which are crucial to maintain their life. The entrepreneurs would get profit and can pay all their employees, taxes, wages, and also can get new stock from the suppliers, etc. This is what we called a win-win situation in an economic-boom phase of entrepreneurisms.

HOW DO I FEEL??

For the first time, I feel quite awkward because I rarely saw this type of situation that happened in front on my eyes in a compact lecture hall and I was taking part as the supplier team. The supplier teams were required to produce foods and try to sell them as much as possible to the entrepreneurs and have to return the cash collected to the bank. I feel that the challenges that being faced by the suppliers are to attract the entrepreneurs to buy their products, and also to create a new creative and innovative goods which can compete with other suppliers which in the meantime, basically strong in the marketing and values. I feel very happy when my products are bought by the entrepreneur in my first attempt and able to collect RM3500 J

 WHERE CAN I APPLY WHAT I HAVE LEARNED

Of course, I can apply all this knowledge and experience whenever I’m involving a business, whether a small business or a mega business projects in the future. All the knowledge and values taught by Miss Elaine are very helpful for everyone, not just for being practiced by entrepreneurs only. As a student, we can apply all the the values such as risk taking, creative, have an effort and self confidence, in our studies to enhance our performance in life.

 OTHERS

I hope this type of activity can be carried out again in the next session because it is very interactive and very beneficial for all of us! J

Written by,

NUR MASTURA BINTI MAHMOOD

SEN120018