For choose your own adventure week I chose the finance group option. During the week we went over financial topics such as what makes a good business, how to be profitable, what the consumer wants from the store/product, how to work against rival companies, and how to make your business popular.
To be a good business, you first have to find your strengths and weaknesses. To do so, we used SWOT - strengths, weaknesses, opportunities, and threats. We set it up in this fashion to create a very accurate way to asses the categories.
Helpful Harmful
| |
Internal Origin --- Strengths --- Weaknesses
| | |
External Origin -- Opportunities --- Threats
To learn how to be profitable, we played a game where some people got buy and some people got sell tickets. They each had a number that if sold under or bought over would cause you to loose profit. An example is someone has a sell ticket for $5; if they sell for less than that they lose profit.
For learning what the consumer wants, we looked at several businesses and saw what services they provided. For restaurants, they provide seating and easy to view menus. Grocery stores provide easy access to collect the items you want at cheaper prices.
Making you business popular includes having lots of social media, having a friendly feel, and being connected to the community. One of the most important things is having customer service that doesn't make the customer feel cheated, and in fact feel like they've received more in return.
Along with that we also designed a company and used the skills we learned to try to make it the best and most profitable.
To be a good business, you first have to find your strengths and weaknesses. To do so, we used SWOT - strengths, weaknesses, opportunities, and threats. We set it up in this fashion to create a very accurate way to asses the categories.
Helpful Harmful
| |
Internal Origin --- Strengths --- Weaknesses
| | |
External Origin -- Opportunities --- Threats
To learn how to be profitable, we played a game where some people got buy and some people got sell tickets. They each had a number that if sold under or bought over would cause you to loose profit. An example is someone has a sell ticket for $5; if they sell for less than that they lose profit.
For learning what the consumer wants, we looked at several businesses and saw what services they provided. For restaurants, they provide seating and easy to view menus. Grocery stores provide easy access to collect the items you want at cheaper prices.
Making you business popular includes having lots of social media, having a friendly feel, and being connected to the community. One of the most important things is having customer service that doesn't make the customer feel cheated, and in fact feel like they've received more in return.
Along with that we also designed a company and used the skills we learned to try to make it the best and most profitable.