Assignment 3

Hello again! Although it's a bit late!
So, here are my reflection to the class~~

What have I learned?

From the last class, we learned how to find out the roots of problem and solve it. In this class, we met the real problem via the real situation. For example, inflation, lack of vacancy, less of variety of food supply! However, in the period of time given, it's very hard to solve the problem, therefore, alternative ways were used to minimize the effect of problem like collaboration between the supplier and entrepreneur!

How do I feel?

At first, I felt lost! It is because I don't actually understand how is it work. After that, when the game start, everything like not working well. However, when the time pass, everything go on the right path slowly. Although all of us don't have any experience in business, but it is obvious that some of the coursemates have some talents like able to persuade others, able to lead others. So, in overall, I think this game is still quite fun as it don't like others class which we can move around the lecture hall!!!

How and where can I apply?

I learned that practice makes perfect! Therefore, when starting a business, without any experience, of course everything will go wrong. However, after you gain the experience, you know how it work, then everything will be in the control. Just like our daily life, maybe sometime while organizing some activities in the club, at first of course everything doesn't go right, but after you explore, survey, do some research, analyse, you learn more and only you can conduct the activities well! Therefore, experience is very important in our life!

Other...

I hope the class in the future can have more games session as just sitting in the class listen to the lecture is seriously boring! Thus, I will appreciate every moment in the game sessions and play my role well!



Communicator
Ng Jin Ying
SEN 120015 

REFLECTION 3

Entrepreneurship is neither a science nor an art. It is a practice. – Peter Drucker

Greetings to all,

this is my reflection on this week class 22 October 2012.

What have I learned?

Through the game I learned a lot from entrepreneur side. Frankly, it was really hard to do the budget-this is mainly because we didn't know a lot about our own business and the prices that the supplier would offer etc etc. After all, when we finished the game I realised about some important things that entrepreneur must know. Firstly, an entrepreneur must organised the budget very well. This will help us to plan and borrow the suitable amount of money from bank so that we didn't end up using all the money just to pay interest, salaries, cost of products and also utilities. In addition, entrepreneur MUST settle the monthly payment on time because of course we don't want any addition amount of money that we have to pay. Next, entrepreneur need to choose well the supplier that we want to cooperate with. That's why my partner and I asked all the suppliers about the prices they offered and it was also important to discuss with them. 

How do I feel?

Actually, I feel disappointed because we didn't make any profit. All the money was used to pay the bank. Somehow, it wasn't our fault I would say. This is because at the beginning of the game, my company was given RM120.00 only from the bank. I thought it was ridiculous; the costs and utilities itself costs RM1200 plus the interest 10% from the bank. It was a game after all, so I thought 'it's okay, just proceed'. Luckily, there was a supplier who offered a very low prices and we cooperated with him. 

How and where can I apply what have I learned?

These can be applied when I want to start a business. Basically, I knew what I need to do first. Firstly, I have to discuss with my partner about our business; the market, target customer, budget etc. Then, register the company name as we are allowed to borrow money from bank if the company is registered. 
After that, we can negotiate and discuss with the supplier, find customers, and then when the business is going well, hire the employees. 

Others

This week, I played a role as an entrepreneur and it was very though I would say. And entrepreneur had to face the most number of problems compared to suppliers, investors, customers because they are the one that manage the company. But still, there are still many people can be entrepreneur as long as they possess the characteristics needed such as risk-taking, critical thinking and so on.

MUNIRAH BINTI GHAZALI

SEN120014

Assignment 3!!

Hi everyone, I'm back again to share with you my reflection for the third week with Miss Elaine.

What have I learned in the class?

I'm not sure how to describe last Monday situation, but I think it was similar to night market. Last Monday, I used to be an employee. The first thing I have to do was make a resume. It was simple, but I know some people might cheat about themselves in their resumes. Although last Monday was a practise, not in real situation, I learned to be honest to myself. Next, after 10 minutes, we have to find a job from the entrepreneurs, which was the most challenging task ever I think. In my personal opinion, self confidence and great communication skill are the most important thing that I should have in looking for a new job. I realized that some entrepreneurs are not judging me based on my academic results, they also look at the skills and abilities as well. So from that session, I analysed myself and I found that there were much more I have to improve. Then, selling our products was not as easy as you can see at night market, there were so many obstacles we faced. As an example, our competitors also sold the same thing like us, but the difference was they sold it much cheaper than us. On the other hand, I learned to improve my creativity in promoting our products, attracting the customers to buy our products and treat them nicely. Overall, the last Monday session was so fun and I enjoyed it so much.

How do I feel?

First of all, I wondered why such useless activity and I never do before have to be carried out in the lecture hall. But think about the future life, then why I not I take part in the activity. For the first time I attempted an interview to find a job, my whole body was shaking a little bit eventhough the entrepreneurs are our friends. I think that's normal for human being. After the entrepreneur red my resume, he gave me the job. Oh, I was so happy with his answer. Then, I felt great to have an opportunity to build the interactions with all of the hall member. To attract them to buy our products, I kept smiling and treat them as nice as possible. It gave me some positive feelings. At the end of the session, the entrepreneur gave me the salary, plus the bonus and I knew we had a good coperation in our business. So now I get the real picture how a successful business is conducted by ordinary people.

How and where can I apply what have I learned? 

Basically, what have I learned last Monday can be applied whenever I want to initiate a business with my partners. But from the perspective of a student, we can applied what we have learned whenever we have to do an assignment or other works in a group. We should contribute as much as possible to the group and play our role effectively to give the best result that beneficial to all of us and those in the surrounding.

Others.........

Last Monday was so fun isn' it? So hopefully it can be conducted in the next classes and it is also great to have an interactions with someone that we just know that day. Lastly, I would like to wish Salam Aidiladha and happy holiday to all my group member. Bye bye........

Prepared by:

MOHAMMAD AZIM BIN SURANI

SEN120009  

       

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

FruiTime !

FruiTime!

Unique Selling Points:

·        We offer a variety choices of fresh fruits (local or import) that is customizable by customers’ desire.

·        We promote healthy lifestyle among campus society.

·        Provide an easy way for students to obtain fruits which are essential for our health.

·        We offer a wide range of add-ons such as dressings and toppings.

·        Special price for the third cup after purchasing two sets of FruiTime!

·        We have our unique way of promoting.

Target Customers:

Fruit nutrition is a great way to strengthen your immune system, fight disease, and boost your overall body health. So, as to support the government’s campaign in promoting healthy lifestyle, we, FruiTime!

are targeting to sell our fresh and nutritious fruits to all the campus societies of the University of Malaya.

 Toppings Offered:

Chocolate Syrup

Ice-cream

Nuts and raisins

Jelly Beans

Survey Form

Gender:

Age:

1.   Do you like fruits? (Yes/No)

2.   How often do you eat fruits?

a.   Everyday

b.   2-3 times a week

c.   Rarely

3.   Do you prefer local or imported fruits? (Local/Imported/Both)

4.   Do you suffer from indigestion? E.g. Constipation (Yes/No)

5.   Are you looking forward for fresh fruits sale in campus? (Yes/No)

6.   Your preference of fruits?

a.   Watermelon

b.   Apple

c.   Papaya

d.   Guava

e.   Banana

f.     Mango

g.   _________________(others)

h.   _________________(others)

7.   How would you like your FruiTime! to be served?

a.   Chocolate syrup

b.   Ice-cream

c.   Nuts and raisins

d.   Jelly beans

e.   Others ______________________.

WHAT DID I LEARN ?

For this second week with miss Elaine, I learn how different parties participate themselves on how to solve the problem that arise. Also , i can see that all of the parties which include investors, workers, top managers, competitors, customers and the suppliers keep blaming each other and tried to defend themselves as much as they could. Well, i know that this is not the right way to solve a problem, and by that, i learned that cooperation in a company is very important.


HOW DO I FEEL ?

Erk , I actually like the part where i saw those different parties keep blaming each other though it's not good for that company, but from there, i can see that it is hard to admit our own fault, yup really hard ! Nevertheless , when you told us about collaborating with other party to solve this problem, i can see that other students tried to make their best on collaborating so that the problem can be solved. Plus, we also get to discuss on the 3 conclusions that you assigned us to do and it makes us all to think outside the box.

WHERE CAN I APPLY WHAT I HAVE LEARNED ?

Actually, i can apply what i learned in that session on everything that i do everyday, for instace, if someone else does something wrong, dont just blame him or her, instead, help the poor guy to resolve his wrong doing. Also, in a group activities, i will do my best to contribute as much as i can for my group.

OTHERS 

I just hope i can enjoy every single class of Miss Elaine. :)

From :
MUHAMMAD FAEZ BIN HUSAIN
SEN 120012

Week Two Reflection !

"An entrepreneur assumes the risk and is dedicated and committed to the success of whatever he or she undertakes. "

Hi ! Hi ! Hi ! \(´▽`)/ \(´▽`)/ \(´▽`)/  

This was the Step 1 in Miss Elaine's class and i love doing this hahaha.

So let's proceed to the reflection now !

What did I learn ?

I am the leader last week, and Miss Elaine called us Leaders to go down for her instruction. To my surprise, she asked us to find a replacement leader! I was a bit hurt by that instruction because i thought that I have not been doing my job very well, hence the leader replacement. 

But she rectified my thought and told us they are temporary leaders to let all of us feel what it's like to be a leader. heh. 

We also had a chaotic blaming session with all the students, and all of us are divided into groups of different roles. While I admire some with their quick solution thinking, some have funny stones thrown at other groups to simply blame them. 

Lastly, we were taught that we all need to cooperate and play our own role responsibly to solve any problems in a company. We can even combine, or merge, with other components of the company so that we can function more effectively. 

"Work together, look for the root of the problem, take action, done !"

How do I feel?

I feel great after each class ! I love taking up information about how it is to run a business and how it is to face problems in business. I'm also a bit disappointed in myself because last week, i was replaced of being a leader and i kind of slacked a bit. 

Where and how can I apply what I learned ?

Well, i can apply the scenario of mutual solution finding to our newly launched family company, because we have quite a lot of problems, especially managment.

I'm happy to take up this course because I will be able to teach my other family members not to simply blame one another, but to work for the solutions.

Others ~

I will bring my laptop to every class ! And our group will always sit in front ! There are a lot of benefits of sitting in front of the class hahaha. Uhm, that's kind of it, i have nothing else to say :) Goodbye, and see you next class Miss Elaine !