Half Way Reflection Week 8

1. Tenacity is definitely something you'll need to possess to get through ENT 3003. You'll have to be on the ball and if you weren't one to keep a schedule before, it is something you'll have to start. You'll have to plan ahead to to deal with all the assignments, but if you stay on track and don't let things build up you'll do fine.

2. There were many times throughout the semester that you'll want to give up, this class will force you to do things that you aren't comfortable with and it will take you out of your comfort zone. I feel that by being forced out of my comfort zone I have grown to be more tenacious.

3. Three tips I'd give to an incoming student would be:
- Don't take yourself to seriously, get out of your comfort zone and try to take something from each assignment.
- Plan ahead so you don't get overwhelmed by the high frequency of assignments.
- Be aware of deadlines.

Week 8 Reading Reflection

One section of this week's reading that I found interesting was the various different sources by which people procure funding for entrepreneurial ventures. Depending on the amount that is needed there is a bevy of options to gain capital.

One section I found confusing was the section on private placements. Couldn't fully understand the role of the Securities and Exchange Commission.

Two questions I would ask:
-How does one get into the field of venture capitalism?
-How do truly know what source of capital is best to start your business?

I found the reading this week to be very interesting and there wasn't anything that I found that I disagreed with.

Week 7 Reading Reflection

One thing I found surprising about this week's reading was the fact that you need to look at different psychographic segmentations to in order to make distinctions between what you need to advertise for a product and what you need to do to introduce a new product or improve an existing one.

One thing that I didn't fully understand was why if market segmentation has had such disappointing results in the past, why are is it still so widely used to day.

If I was to ask the author two questions, I would ask why market segmentation is still so widely used today, and what segmentation is most crucial to the market today.

I didn't really have anything I disagreed with in this article.

Week 7 Reading Reflection

One thing I found surprising about this week's reading was the fact that you need to look at different psychographic segmentations to in order to make distinctions between what you need to advertise for a product and what you need to do to introduce a new product or improve an existing one.

One thing that I didn't fully understand was why if market segmentation has had such disappointing results in the past, why are is it still so widely used to day.

If I was to ask the author two questions, I would ask why market segmentation is still so widely used today, and what segmentation is most crucial to the market today.

I didn't really have anything I disagreed with in this article.

Week 6 Reading Reflection

I found this week's reading to be quite interesting. I have studied Porter's 5 Forces in other business classes sense I have been here at UF. I guess the part that I find most interesting is that you can actually break down a companies whole strategy guide to how they must react to these five points. Obviously a large corporation has many different choices to make regarding its strategy, but at its core it is how it must react to these points in order to be successful.

I suppose one part of the reading that I found a little confusing, was how he viewed government interference in industries that couldn't survive without its intervening. I would like to know how he feels government subsidies to dying industries affect our economy.

What I stated above would be my first question. But for my second question I would like to ask him how he knew the SWOT analysis wasn't covering all the areas needed when accessing a corporation, and how he came to the conclusion that his 5 forces got a better picture of a corporation.

I don't disagree with anything from this article, after all the man does work for Harvard.

Idea Napkin No. 1 Week 6

1. You

I am a finance major, who is currently studying abroad in Rome. I love traveling and seeing new places, and for the most part use apps to find the best places to go see in an area and the best food to eat in that area. I even use an app to figure out the best mode of transportation in each new area. But some times when your out sight seeing you got to use the facilities, hence why I ask my self why there isn’t an app or at least a feature of an app (such as Google Maps) that lets you look up where a near by public restroom is.

2. What are you offering to customers?

The service I’m offering to customers is pretty simple; find out where the nearest public restroom in the area you are. Why spend money at restaurant to just use the facilities when a simple app integrated with Google Maps can point you in the direction of a free one, or at least one that is cheaper.

3. Who are you offering it to?

Primarily targeted to people who are traveling and unfamiliar with where they are, but in reality it can be used by anyone who just can’t hold it.

4. Why do they care?

Cause everyone has had at least one uncomfortable moment while they were out or traveling cause they didn’t use the facilities before they left the hotel or last restaurant.

5. What are your core competencies?

I have been traveling all over Italy and when your on a day trip or just far from the hotel, and you’ve got to go, I’ve found that most Italian business owners are not to receptive of a bunch of Americans trying to come in just to use the bathroom. And due to the lack of street labeling it is often hard to find a public restroom, this is simple solution to help you find one.

I think that my experience with traveling and my experience with using apps while traveling to help me find things put me in a good position to design this sort of app. It’s a simple problem with what I feel is a simple solution, that stands to provide a little bit more comfort for people traveling to new cities. Suppose that the only element I’m lacking is a background in app developing and programming.

Week 5 Reading Reflection

One thing I found interesting about this weeks reading is the amount of firms that emerge each year and the amount of patent applications that are reviewed each year. I find it difficult to come up with one successful idea and people are submitting 375,000 each year.

I found the section on the evaluation process to be a little confusing, though I understand the importance of each approach.

Two questions I would ask would be: Is there a science to knowing when is the right to open a business or implement a new idea? and How much do external problems relate into internal problems?

I didn't disagree with anything, but I found the section on why new ventures fail to be a little vague.