ENT3003 Blog

1)  Tenaciousness is a competency. Throughout this semester, I have developed behaviors to keep up with the requirements of the course. One of the things I do is to make sure to set aside two days of the week for this class. One of the days I do the assignments for the week and the other day I watch the lectures, take the quiz, and comment on the posts of peers. Also, I try to read over the assignments in advance to prepare for how long they will take me. When I'm working on these assignments I do my best to think outside of the box so that I can answer the questions in the best way possible.  2)  Tenaciousness is also about attitude.  Earlier this semester I had a week where I had two exams and three assignments for this class. I thought about not doing one of the assignments because I had to prioritize studying. It would've been easy to not do the assignment because at the beginning of that week I wasn't feeling motivated for school due to personal reasons.  I pushe

For this assignment, I interviewed three of my roommates who have also had negative experiences with waiting in line at the store. The segment I targeted were college students. Interview 1: This individual is a 20-year-old computer science student in Gainesville. After having asked him a few questions he told me that his need is triggered the most when he is in a rush before work. He usually works in the morning as most people do so it's not difficult to picture the influx of people entering the store at this time. When someone is about to be late for work the last thing they want to do is wait a long line that is out of their control. After he becomes aware of his need, he compares whether it will take longer to use the self-checkout line or the other registers.  Interview 2: This person is a 21-year-old business student in Gainesville. I conducted an information search in the interview and I got that her need is triggered the most when she goes to the store late at night. Peo

1.  I'm an Economics major at the University of Florida. I find interest in sports, the stock market, and politics. Some of my skills include being very analytical and having the ability to manage a group of people. I've had experience working in customer service and sales. I aspire to be successful in business and build different forms of passive income. My business concept will play a role in my life by pushing me to try to find potential investors that I could then learn from in order to reach my full potential in my future business endeavors. 2. My product is a cheaper self-scanner that can be used at every register. Customers at the store will be able to scan their items every time, eliminating the job of the cashier. This will help to decrease wait times at the store especially in the hours when companies aren't scheduling enough workers. 3.  I'm offering my product to retailers who make it a priority to respond to consumers complaints about wait times. Also,

The opportunity: The opportunity that I selected is when you go to the supermarket late at night and there isn't enough registers open. We could decrease wait times at the store by selling a cheaper self-scanner that can be used at every register. For this assignment I conducted the following five interviews: -First I interviewed my friend from my industrial organization class. He has similar interests as me and I'd say we have a similar personality. -I interviewed my sister who is one of the most impatient people I know so I thought she would love my idea. -I interviewed a coworker that loves sports and hates going to the grocery store as much as me. -I interviewed my old coach who would always complain when the fast food line was long so I assumed he would hate when the line at the store was long. -Lastly, I interviewed my roommate who I've been friends with for basically my entire life. I got an answer I was expecting from my friend but I wasn't expec

1.  The opportunity I selected in the previous assignment is based on when a large amount of customers go to a supermarket at night and there isn't enough workers to handle the influx with the self-scanners they currently own. 2. The solution to best solve this problem is to develop a cheaper self-scanner that we can sell to supermarkets. As a result of this, the amount of self-scanners that stores can buy will be multiplied. This will reduce the wait time of consumers and increase customer satisfaction. The company could then schedule significantly less workers during these hours and increase their profit. This will also increase sales because people will no longer leave the store prematurely due to a long line. My product will help these companies respond to their customer needs in a revolutionary way. The main stores I'm targeting to sell this product to are Walmart and Target.

1. The opportunity that I selected is people going to a supermarket late at night and there not being enough registers open. 2. Who: Supermarket     What: Many people will go to the supermarket in the late hours and will have to wait a significant amount of time in the self-service line because of there not being enough registers open.     Why: Companies can't afford to pay for enough workers during these hours. 3. Hypothesis: If we could make a cheaper self-scanner product than supermarkets would be able to buy a significant amount of these and this will lead to increased customer satisfaction due to significantly shorter wait lines. Testing the who: All supermarkets could benefit from this, but Walmart could especially benefit from this due to the fact that many of their stores are 24 hours. Testing the what: Although there is usually like 6 self-scanners open, this is not enough to satisfy the influx of people when there is a shortage of workers. Testing the why: Comp

For this assignment, I searched for four opportunities related to economic and regulatory trends: 1. The first opportunity related to economic trends that I could come up with is technology in the housing market. As the housing market continues to grow in this country, more technological products continue to be developed. Examples of this include the new alarm systems and the "smart" locks that record you as you ring the door bell. Innovation in this market will only continue to grow with the emergence of satellite WiFi by Google. The prototypical customer would be someone who is buying a home and wants the latest technology available. I found this opportunity by reading a real estate magazine. My future desires helped me to form this opportunity because I started thinking about how profitable it would be if I could create a product that is sold on a mass scale to every home buyer in the country. This opportunity would be difficult to exploit because it would be costly to