ENT3003

1) The opportunity present here is those current subscription box subscribers that are unhappy with their subscription boxes. They are unhappy with the choices and costs that come with their current boxes. The opportunity is also present in people who are interested in joining a subscription box but don’t like the idea of getting items they will not enjoy. This particular market really can be defined in all demographics, my subscription box will appeal to both men and women, as well as people of all ages, with all types of interests and hobbies. The main target market would be women in their 20’s and 30’s, as they are the most willing to try a subscription box as well as those currently subscribed to one or more subscription boxes. Customers are currently satisfying their needs of variety by ordering multiple subscription boxes and getting a hefty bill. I think once they see a cheaper option their loyalty to these other companies will end. I think my business has a huge opportunity bec...

The book I chose was, “The Art of Social Media”, by Guy Kawasaki. The general theme and argument of this book were that your social media presence is very important in not only how businesses view you as a potential employee but how consumers view you as a business owner. The book lists all the reasons why your social media is so important in the business world. This book, in my opinions, connect with and enhanced what we are learning in ENT3003 in the ways on how social networking and marketing can affect your business. If you are active and present on social media, in a positive manner, your customers will feel more connected to you. You also have the potential to gain members of your network by befriending and building relationships with other people that will help your business grow. If I had to design an exercise for this class, based on the book I read, it would be to partner up with another classmate and have them go through your social media. I would have them decide if they wo...

A time that I failed this semester was in principles of management. I literally failed, I failed the last exam we took. I learned that even though I spent money on SparkNotes as well as spending 4 days studying it still was not enough. I learned to make flashcards and invest more time in the book. I was really hard on myself as well as upset, because I was so sure that I did well. When it comes to failure in general I am always hard on myself, and upset. I feel like I can always do better. I am used to having straight A’s so this was a hard bullet to bite. I definitely need to allow myself more time to take the exam as well because I only gave myself 30 minutes to answer 60 questions. This class taught me that it is okay to fail, according to the last reading reflection I did. The book I read mentioned how it is actually a good thing to fail. I am definitely not more likely to take a risk now than I would have been a few months ago because I am not a risk-taker. But overall, I have cha...

The exit strategy I plan to take with my business is to stay in it for the long run. I will retire with the business and pass it on to my kids. I hope that it will be successful enough for that to happen. I have selected this particular exit strategy because it would mean that I have a successful business. It would be my dream to be my own boss and own my own business that I work from home when I want to work. I also wouldn’t want to sell it because I intend to do this until I retire, I would not want to sell it and then return to working for someone else. I would like to give it to my kids so they have the same opportunity as I do to be their own boss. This exit strategy has definitely influenced all the other decisions I have made in my concept. I have always intended to expand and grow my business and I plan on doing so with the revenue that I generate.

  1.      Social Capital-valuable, rare, not easy to imitate, and non-substitutional. 2.      Financial Capital-valuable, rare, not easy to imitate, and non-substitutional. 3.      Networking-valuable, not rare, not easy to imitate, and non-substitutional. 4.      Socializing-valuable, not rare, not easy to imitate, and is substitutional by technology. 5.      Multitasking-valuable, not rare, easy to imitate, and is substitutional by technology. 6.      Determination-valuable, not rare, easy to imitate, and non-substitutional. 7.      Innovation-valuable, not rare, not easy to imitate, and non-substitutional. 8.      Organization- valuable, not rare, easy to imitate, and substitutional with technology. 9.      Thoughtful-ness- valuable, not rare, easy to imitate, and non-substitutional. 10.   Goal Dr...

Existing Market.  What would be next in terms of my subscription box would be to offer a larger box for a higher price. Instead of $35 for 5 items, I would offer 7 items for $50 and 10 items for $75. From the three customers, I interviewed they all similar response, making my subscription box larger, as well as introducing new and fresh categories each month, so growing it larger in that sense as well. The item that I had already listed matched up with what they were suggesting, and they all thought that the price points were a great idea. After a year of launching my subscription box, I would like to increase the size that may be up to the 7 items. I would still be developing relationships with suppliers, so I don’t want to go too big to lead to disappointed customers due to my not offering enough consistently each month that they’re interested in. After 3 years I would then like to offer even larger boxes and have a wider variety of categories and items to choose from. This would...