1. Looking at all my posts this past semester, it's hard to believe my freshman year has come to an end. Starting out in January creating a base platform and idea for the rest of the semester I had no idea what I was getting myself into. Now looking at my first elevator pitch, It's hard to believe that was still me. Without knowing it, I have improved so much with being able to present myself in front of others. In addition by the time I got to customers interviews round #3, I was a pro at approaching people and asking them their basic thoughts on my ideas. However, the journey was not always easy. From having to track down random entrepreneurs for a quick 2-minute interview to having to track down domain and market experts was definitely an experience I'm glad I do not have to repeat. Overall from this course, I have been able to definitely grow an idea and develop as an entrepreneur. With the help of this class, I can now say that I AM AN ENTREPRENEUR.
2.For me, my most formative expereience was Venture Concept #1. With this activity, I was really able to showcase my idea and really see the magnitute of what I had created come together for the first time. This activity gave me a great outline and base to actually make my idea a reality. Because of this activity, I can go back any time and forever see the full extent of my idea. Even though it was long and a lot of information, It was my most joyous experience and my most proud.
3. Through this class, i have acquired the entreprenurship mindset. Through these activites, I'm more likely to take risk and try something new. I will now question the norm and try to innovate to create something better. I will no longer stand as a background to the developing world around me. Instead, I will choose to be a forerunner and innovater to make my imapct and leave my legacy.
4. The key to sucuess in this class is forming a schedule and branching out from yourself. By developing a sense of confidence, anyone can sucueed in thois course. To foster the mindset of an entreprenuer, be sure to think outside the box. Choose something you are passionate about! Don't just go through the motions in this class. If you put in the effort, at the end you will have an idea that you can be proud of that can actually be put in place and invested in.
Sunday, April 24, 2016
Saturday, April 23, 2016
Week 15 Reading Reflection
1. One of the fascinating things I learned from this reading was the idea of microfinance. Before reading this, I did not have any idea of what microfinance even is. It's incredible how this is able to change the lives and impact so many people by providing such small loans and such great amenities. Even though the returns rates are slow and low, I find it amazing how this company is able to thrive off of sheer numbers alone and is able to survive with such a high repayment rate.
2. The most confusing part is how this company was able to grow so rapidly when investors heard the fact of repayments of as low as $1 per week.
3. How were you able to seduce investors initially and encourage them to contribute to your company? How profitable is microfinance and how successful is it at helping its customers escape poverty on average?
4. I did not disagree with anything. I really enjoyed this story about microfinance and this amazing company.
2. The most confusing part is how this company was able to grow so rapidly when investors heard the fact of repayments of as low as $1 per week.
3. How were you able to seduce investors initially and encourage them to contribute to your company? How profitable is microfinance and how successful is it at helping its customers escape poverty on average?
4. I did not disagree with anything. I really enjoyed this story about microfinance and this amazing company.
Wednesday, April 20, 2016
Venture Concept No.2
Opportunity, Innovation, and Venture Concept:
Hi, my name is Justin Schlakman and I'm offering a solution to having to sprint across campus to make it somewhere on time. My program consists of installing bike docking stations all across campus and replacing the normal clutter of dormant bikes racks. UF bikes would be available 24/7 365 days per year, and would allow service at a quick swipe and touch of a button. Rather than students having to rent a bike for a whole semester, to hardly ever use it, UFBIKE would give every student the opportunity to use a bike whenever most convenient for them, at a low trip, or semester price. On campus, bikes would be available at every docking station in which they can then be returned to any docking location. For students, who already have a bike and do not live on campus, additional docking spaces will be available for regular bikes, so students would no longer have to bother with normal bike rack and locks.
In addition, I would like to introduce an app in which students would be able to log on to view a record of their bike history that would allow them to report maintenance problems with their bike. The app will also allow students to avoid the kiosk line by allowing you to directly sign up for a bike through the app. The app will also provide a feature that allows users to view which biking stations have available bikes.
To address the problem of bike theft, bikes responsibility would be primarily up to the user in which they must ensure that the bike is properly docked/locked up, like any other bike. A potential solution could be a tracker to find bikes after they are reported stolen. Because bikes are not traveling large distances, mileage is not too much of an issue and would not create many maintenance problems. In order to maintain all bikes, we can expand the bike center here on campus and partner with them and their department and allow students a chance at work.
The UF student population is similar to other schools in the fact that we are just a group of students trying to learn and get an education. In other words, we are all just a group of normal young adults striving to do something better with our lives. With the daily struggles of everyday student life, there are plenty of times when students run late or need a better method other than walking or taking a bus to get from point A to B on campus. The current bike system is practically non-existent, and the bikes that UF has for rental are sub-par. In addition, UF doesn’t have any opportunity for the student to use a bike on demand for even just recreational use. Out of these primary factors, my opportunity has manifested itself.
My market demographics include not are not limited to the following groups: faculty, staff, students, and visitors. In addition, my market includes people of all ages who know how to ride a bike or wish to learn how to ride a bike. My market additionally includes people who currently own a bike and do not have access to a bike. However, the primary target for this program will be new students who are going to be living on campus and do not want to buy or bring a bike from home to school. If new students no longer have to buy bikes as freshman, they would no longer have to maintain it for the next few years and UFBIKE’s would eventually see a steady increase in use.
Customers currently satisfied their need for travel by either walking, riding a bike, or taking a bus, and driving. Generally, people use the most convenient method of transportation available to them, so I want to integrate my system so that it's readily easy and convenient for those traveling on or through campus. This opportunity has the potential to be quite large, in that I would want to incorporate it throughout the entirety of the UF campus centralizing in the more populated regions but spreading out to the outskirts as well. This window of opportunity has the potential to last for many years as long as bikes are maintained and updated as needed to accommodate student’s needs. Because I want to focus my market by targeting new students who don’t have a set method of transportation yet, I do not think it will be hard for students to switch to this new method.
Now you may be wondering how much my idea will cost and how the bikes would be made. Here is a brief description of how I envision the bikes to be made from a Wikipedia article from a similar idea currently in place in NYC: “The bicycles are utility bicycles with a unisex step-through frame. Their one-piece aluminum frame and handlebars conceal cables and fasteners in an effort to protect them from vandalism and bad weather. They are equipped with a Shimano Nexus three-speed, twist-shifter-operated internal geared hub, full mudguards/fenders and chain guard. The heavy-duty tires are puncture-resistant and filled with nitrogen to maintain proper inflation pressure longer. Twin LED rear lights of the pre-2015 design are integrated into the frame.” Because many bikes need to be produced, I imagine the startup cost would be a few million dollars. Semester bike passes will cost around $40 and individual trip prices will be based on time used or even by miles road.
To increase my market base and create opportunities for additional revenue my new innovation includes creating a partnership with Fitbit, in which students can now track their bike mileage, calories burned, heart rate, and other features that Fitbit offers via the Fitbit Surge. Depending on the features that students desire these can range from $100-250, and are not limited to cyclist users.
Since at its core, UFBIKE is just another transportation service it deals with a lot of competitors such as SNAP, Busses, Cars, Scooters, and all working pair of legs. However, both buses and SNAP take forever at times, and not everyone can afford access to cars and scooters. In addition, the role of packing, price points, distribution, customer support, etc. is very important in my business concept because without these guidelines to maintain, my product will not be used or readily available. Lastly, I would organize my business by utilizing sponsorship and branding to make my idea reality. Working with other companies that have already made this system possible will provide me a base and a resource to ensure success in my venture. To get the staff we need, we can prioritize on giving students an opportunity to work on our maintenance team. The primary roles include maintenance, distribution, and customer service. By partnering with other companies, I'm hoping that the university could reduce the startup cost and have student government use their funds to supply the rest of the budget needed to cover the expenses.
Three minor elements:
1. One of my top strengths is communication. I love surrounding myself with people and I have no trouble presenting myself in front of large groups or audiences. I'm good at presenting and just being myself even when I'm surrounded by strangers. Using this strength of mine I’ll be able to actively work with other companies and the different branches of the school to make this opportunity possible.
2. 2. My next venture markets my idea as a fitness product. Please see above in the innovation section.
3. 3. With this product, I want to leave my legacy here at the University of Florida. I want to be able to see students going to class and traveling throughout campus on my bikes. In addition, I want to see the current disaster of the normal bike racks solved. For the next 10 years and as an Entrepreneur, I could see myself working alongside some of these other companies who sponsored my idea and continue to implement this system in big cities across the world. This opportunity will have given me the experience needed to do just that.
As a whole from ever
Feedback/how I've developed my idea:
Overall, my idea has become widely accepted by so many students. The general consensus is that people really like my idea, and it would have a future here at the University of Florida. Because I have already addressed on all negative feedback throughout the semester, I have graciously only been left with positive feedback. To counter some of the things I have had to change to my idea were providing an app, setting up a cost system, expanding the maintenance department here at UF, and working towards new products to endorse my product as more than a transportation device. Overall for my product to be most effective, I have to deal with the current market of students who already have bikes. To counter this, I would like to get freshman signed up at Preview in order to prevent this market from existing in the first place. With this, students would no longer have to buy bikes before coming to school. After a few years and a reduction of the amount of people who already own bikes, my idea will begin to thrive completely.
Sunday, April 17, 2016
Week 14 Reading Reflection
1. The most interesting thing I read about was intrapreneurship. I had no idea that concept even existed. Rather than just having one worker creating ways to improve, and instead having all employees are board, can help create a more productive and more successful company.
2. Like in a lot of the chapters, I have a hard time following the different charts and graphs that the author uses. I feel as though if set up or explained better they would be a lot better of a resource.
3. How should companies reward employees for their innovations? In what areas of a business are ethics most important?
4. I did not disagree with what the author wrote in these chapters, and agreed with everything they said.
2. Like in a lot of the chapters, I have a hard time following the different charts and graphs that the author uses. I feel as though if set up or explained better they would be a lot better of a resource.
3. How should companies reward employees for their innovations? In what areas of a business are ethics most important?
4. I did not disagree with what the author wrote in these chapters, and agreed with everything they said.
Google Gold
1. Overall this semester, I was not aiming to get my blog out there to as many people as possible. Instead, I used it as a medium for myself to learn and grow my own ideas. The main way I have been spreading my ideas and thoughts, has been by sharing my blog with others, either by linking my post or by commenting on other students blogs. As far as the content goes within my blog, I generally kept a similar writing style and made sure to fully complete each assignment with as much detail as needed.
2. My primary keyword I used derived from the name of my new business adventure called UFBIKE. With the help of NYC's Citibike, I thought of our own transportation system that could be used here, thus, UFBIKE was born. Because I stuck with the same idea throughout the entire semester, I did not change my keyword.
3. I did not capitalize on social media much throughout the semester. I did not want to connect my school life with my social life through the means of social media, so i decided to refrain from sharing my blogs on things such as google plus, facebook etc. Because it was school related, I do not think it would have been receptive by the public.
4. My most viral post was my "Celebrating Failure" post. I think this was my most viral post, because it was the most relatable to my audience. Not only have I failed at least once in my lifetime, everyone else has too. Because of this, we often seek out others and their own stories to see that we are not alone and that failure is normal and a part of life.
5. From my keyword UFBIKE, I did not make it to the first page of google results; however, I did make it to the 3rd page! However, from my blog name, the daily schlak, I made it to the very first result.
2. My primary keyword I used derived from the name of my new business adventure called UFBIKE. With the help of NYC's Citibike, I thought of our own transportation system that could be used here, thus, UFBIKE was born. Because I stuck with the same idea throughout the entire semester, I did not change my keyword.
3. I did not capitalize on social media much throughout the semester. I did not want to connect my school life with my social life through the means of social media, so i decided to refrain from sharing my blogs on things such as google plus, facebook etc. Because it was school related, I do not think it would have been receptive by the public.
4. My most viral post was my "Celebrating Failure" post. I think this was my most viral post, because it was the most relatable to my audience. Not only have I failed at least once in my lifetime, everyone else has too. Because of this, we often seek out others and their own stories to see that we are not alone and that failure is normal and a part of life.
5. From my keyword UFBIKE, I did not make it to the first page of google results; however, I did make it to the 3rd page! However, from my blog name, the daily schlak, I made it to the very first result.
Tuesday, April 12, 2016
Very Short Interview, Part 2
For this assignment, I interviewed Laurie again. After working with DECA Inc. for many years, Laurie decided to use her knowledge and begin being an entrepreneur and decided to start helping the brand and students involved within the organization. In order to help students, Laurie decided to start publishing work for DECA including guides, workbooks, and other supplements to help students have a better understanding and guide when competing. Looking back on our initial interview now, I trust her opinion very much. Her ideals and concept of entrepreneurship have very similarly aligned with this course and the models that we learn about. For this second follow-up interview, I asked her the following questions:
1. How has being an entrepreneur affected your life?
Being an entreprenuer has affected me in several different ways. Being an entreprenuer has made me a seeker of opportunity. In addition, being an enterpreneur has made me very detailed oreiented and has allowed me to grow in all aspects of management.
2. Has being an entrepreneur caused you to be more or less risk adverse?
Being a an enterpreneur has caused me to be less risk adverse. Part of being an entrepreneur is failing. In order to fail, you also have to take risk; however, as long as you are taking the right measurements before hand and doing the proper research, the risk should pay off.
3. What are three skills that help contribute to being a good entreprenuer?
To be a good entrepreneur you have to approachable and a good leader. An entrepreneur deals with a lot of different people and has to work closely with them. In addition, an entrepreneur needs to be able to manage many things at once and be patient with his or her own ideas.
After learning so much about how to interact with people, I feel as though I have really grown a lot through this course. Because of this course, I know have the confidence to go up and talk to strangers, unlike before. Because me and my entrepreneur have remained close, she has been able to seen my grow as a result of this class, and she is really proud of how confident I have become when interacting with new people for the first time.
1. How has being an entrepreneur affected your life?
Being an entreprenuer has affected me in several different ways. Being an entreprenuer has made me a seeker of opportunity. In addition, being an enterpreneur has made me very detailed oreiented and has allowed me to grow in all aspects of management.
2. Has being an entrepreneur caused you to be more or less risk adverse?
Being a an enterpreneur has caused me to be less risk adverse. Part of being an entrepreneur is failing. In order to fail, you also have to take risk; however, as long as you are taking the right measurements before hand and doing the proper research, the risk should pay off.
3. What are three skills that help contribute to being a good entreprenuer?
To be a good entrepreneur you have to approachable and a good leader. An entrepreneur deals with a lot of different people and has to work closely with them. In addition, an entrepreneur needs to be able to manage many things at once and be patient with his or her own ideas.
After learning so much about how to interact with people, I feel as though I have really grown a lot through this course. Because of this course, I know have the confidence to go up and talk to strangers, unlike before. Because me and my entrepreneur have remained close, she has been able to seen my grow as a result of this class, and she is really proud of how confident I have become when interacting with new people for the first time.
Sunday, April 10, 2016
Celebrating failure
When coming here to UF as a freshman, one of my biggest goals was to get involved. Being in the business school, one of the primary programs you here about is the Florida Leadership Academy and how great of an opportunity it is to be apart of it. After learning more about the program, I made it my primary goal to get into this top program. After already becoming involved in so many different programs, I was extremely confident that I had a chance to be apart of such an amazing group of people. After applying and receiving an interview, I even participated in several mock interviews. All in all, after getting so far and working so hard to get to that point, I was not invited to join the new class. From this experience, I learned to not be so closed-minded and be more proud of the things I've done in my life up to this point. Because I was so focused on getting one thing, I forgot about everything i should of been proud of in my other involvement. If anything the experience showed me that one person or one organization is one failure is not going to change or define my future. People always see failure as a bad thing; however, it's not bad at all. Failure is necessary for people to become great. In addition, failure also brings out the best and worst in people and allows them to learn from it and shape who they are as a person. Because I'm have a happy go lucky type of personality, I generally handle failure fairly well. I don't let it stop me, and I'm always trying to think on the bright side and the happier things in life. As mentioned, it's not the end of the world. I'm still going to live life to its fullest and enjoy being happy. For this class, failure is almost inevitable either with your ideas or being shut down while trying to get an interview. In this sense, failure has been a great learning opportunity for all of us to keep trying and never stop believing in ourselves, our dreams, our hopes, or our futures. Because of this, I would say I'm more likely to take a risk.
Week 13 Reading Reflection
1. One thing that surprised me was all the factors that going into buying a business. There are so many questions that need to be answered before you can properly analyze the business and the potential value and growth capabilities the business has.
2. I was slightly confused with the different valuation methods. I understand the main premise of each, but I'm not sure when one would be better than the other and how you actually gather the information to use them.
3. For which kinds of companies would you use each valuation technique? Why would a company ever use a non-binding agreement?
4. I did not disagree with the author in this chapter.
2. I was slightly confused with the different valuation methods. I understand the main premise of each, but I'm not sure when one would be better than the other and how you actually gather the information to use them.
3. For which kinds of companies would you use each valuation technique? Why would a company ever use a non-binding agreement?
4. I did not disagree with the author in this chapter.
Wednesday, April 6, 2016
My Exit Strategy
Overall, I intend to stay with my business for several decades and then retire for quite a few reasons. My idea consists of installing bike docking stations all across campus in which bikes can be rented and returned at any docking location. Because of the nature of this project, it would take a couple of years alone to get this project implemented and expanded to stretch across all campus. In addition, It would take a few years after this system was initiated before it became in full use. Because many students already own bikes or have their rigid routines to get around on campus, my product would have to target incoming freshman and focus on developing them as my consumer base, so, it would take a few years before I can also include my new market. With this system, it is going to be expensive to implement, so it will need to be constantly maintained to remain in good working condition. This idea has made me seek to expand my maintenance team and using direct customer reports to make the necessary repairs. In addition, it has made me focus on bikes that can remain durable with a high mileage count and withstand the extreme Floridian weather. In general, this idea stems from my own experiences on campus when I need to get home after the buses have stopped running and am forced to walk home.
Sunday, April 3, 2016
What's Next
Existing Market: The existing market I'm trying to capture includes Students who do not own or do not have access to a bike.
Step 1: Current Idea: Currently I'm offering students a new way of transportation, in which students can rent a bike from one station and return the bike to any other station.
Here is what I want to do next: The next product I'm offering is an attempt to expand my customer base by marketing my product as a fitness device. The next item I'm offering stems from a partnership and sponsor that's similar to a Fitbit, in which students can now track their bike mileage, calories burned, heart rate, and other features that Fitbit offers.
Step 2: Here is what customers thought of instead of my idea or what I might add or change instead to possible incorporate new students into market who already have met their needs:
Step 3:
In my first interview, Audrey wanted me to focus on more on the market to see what level my demand actually is from people who do not have access to a bike. Like her, Audrey doesn't have a bike and she just does not want to bike and would rather walk. Instead, Audrey would rather have a more focused projection on the numbers of actual potential customers. In my next interview, Ben, there was also not much more I could offer him because he simply prefers walking and just does not want to bike around campus. However, in my third interview, Brandon said I should capture more young students by starting off by selling semester passes at preview when parents and young students are eager to buy new things that might be beneficial for them.
For the future, a good point was mentioned here. I need to remain marketable and capture which customers I actually have a chance of getting to use my product. First, I need to focus on this group, before I can try to outreach my program to students who might not have initially used this program. I think having a good marketing platform of potential uses for my product can help encourage more students to participate.
New Market:
Step 1: Students who already own or have access to a bike in which I'm trying to get them to ditch their own bike and use my service.
Step 2:
A lot of people are routine and enjoy the normal schedules that they have. Because of this, it can often be hard to get people to change what they are doing for something else. In this circumstance, the best way to capture this audience was to market the other ways that this product could be used, such as a fitness or recreational product that you can do with your friends. Also with my idea, these students would not have had to buy a bike in the first place. Here are the ideas of what they proposed rather than my Fitbit idea to possibly get them into my market.
Step 3: In my first interview, Olivia talked about incorporating a sign-up program for the beginning Fall of each year by adding a booth at preview to sign students up early when parents are eager to throw money at different opportunities. This way, it can help contribute to start-up and maintenance for each new year. In my second interview, Jeremy talked about adding a few double bikes where friends can ride and bike together for recreational purposes. In this way, we are also continuing to build on the community standard that we create here at UF. Lastly in my third interview, Malik thought of an idea about adding a point reward system to encourage people to ride more miles, in which points can then be traded in for things such as food or discounts.
I learned that people don't always like change, so breaking into this new market might be a little hard. I may just have to wait till this market fizzles out a few years after my program was initiated. With my idea, I'm trying to get rid of this market in its entirety by stopping consumers from purchasing bikes or bringing their own bikes from home. Once students who want a bike but do not have access to a bike are ready to use a bike, they will then be able to use UFBIKE's and my program will see an increase in sales and use. In my existing market, I expected more people to want to use a bike to save time, however, it seems not everyone agrees with that.
This new market has lots of potential to become a part of my existing market. If my idea was implemented, students would be able to get rid of their bikes and sell them. With this, students would no longer have to maintain their bikes or worry about them getting stolen.
Step 1: Current Idea: Currently I'm offering students a new way of transportation, in which students can rent a bike from one station and return the bike to any other station.
Here is what I want to do next: The next product I'm offering is an attempt to expand my customer base by marketing my product as a fitness device. The next item I'm offering stems from a partnership and sponsor that's similar to a Fitbit, in which students can now track their bike mileage, calories burned, heart rate, and other features that Fitbit offers.
Step 2: Here is what customers thought of instead of my idea or what I might add or change instead to possible incorporate new students into market who already have met their needs:
Step 3:
In my first interview, Audrey wanted me to focus on more on the market to see what level my demand actually is from people who do not have access to a bike. Like her, Audrey doesn't have a bike and she just does not want to bike and would rather walk. Instead, Audrey would rather have a more focused projection on the numbers of actual potential customers. In my next interview, Ben, there was also not much more I could offer him because he simply prefers walking and just does not want to bike around campus. However, in my third interview, Brandon said I should capture more young students by starting off by selling semester passes at preview when parents and young students are eager to buy new things that might be beneficial for them.
For the future, a good point was mentioned here. I need to remain marketable and capture which customers I actually have a chance of getting to use my product. First, I need to focus on this group, before I can try to outreach my program to students who might not have initially used this program. I think having a good marketing platform of potential uses for my product can help encourage more students to participate.
New Market:
Step 1: Students who already own or have access to a bike in which I'm trying to get them to ditch their own bike and use my service.
Step 2:
A lot of people are routine and enjoy the normal schedules that they have. Because of this, it can often be hard to get people to change what they are doing for something else. In this circumstance, the best way to capture this audience was to market the other ways that this product could be used, such as a fitness or recreational product that you can do with your friends. Also with my idea, these students would not have had to buy a bike in the first place. Here are the ideas of what they proposed rather than my Fitbit idea to possibly get them into my market.
Step 3: In my first interview, Olivia talked about incorporating a sign-up program for the beginning Fall of each year by adding a booth at preview to sign students up early when parents are eager to throw money at different opportunities. This way, it can help contribute to start-up and maintenance for each new year. In my second interview, Jeremy talked about adding a few double bikes where friends can ride and bike together for recreational purposes. In this way, we are also continuing to build on the community standard that we create here at UF. Lastly in my third interview, Malik thought of an idea about adding a point reward system to encourage people to ride more miles, in which points can then be traded in for things such as food or discounts.
I learned that people don't always like change, so breaking into this new market might be a little hard. I may just have to wait till this market fizzles out a few years after my program was initiated. With my idea, I'm trying to get rid of this market in its entirety by stopping consumers from purchasing bikes or bringing their own bikes from home. Once students who want a bike but do not have access to a bike are ready to use a bike, they will then be able to use UFBIKE's and my program will see an increase in sales and use. In my existing market, I expected more people to want to use a bike to save time, however, it seems not everyone agrees with that.
This new market has lots of potential to become a part of my existing market. If my idea was implemented, students would be able to get rid of their bikes and sell them. With this, students would no longer have to maintain their bikes or worry about them getting stolen.
Week 12 Reading Reflection
1. In this chapter, I really enjoyed how the model of business planning was broken down and which components need to be addressed for successful expansion, to combat competition, or when there may be a lack of experience/knowledge at hand.
2. I found Category 1 planning: no written plan to be a little confusing. If a business was trying to plan ahead for the future, it doesn't make any sense why they wouldn't write any of it down to try to figure it all out on paper rather than in your own head. It makes sense that firms with better planning tend to do better in their respective industries.
3. What are some of the ways we can get the data/measure the market so that we are able to have enough information to plan effectively? To be an adaptive and innovative firm, how can a firm continue to grow and grow and expand their ideas when they hit a potential "writers block" and no longer have any good new ideas?
4. Nothing in this chapter was confusing! I liked all the topics covered in this chapter.
2. I found Category 1 planning: no written plan to be a little confusing. If a business was trying to plan ahead for the future, it doesn't make any sense why they wouldn't write any of it down to try to figure it all out on paper rather than in your own head. It makes sense that firms with better planning tend to do better in their respective industries.
3. What are some of the ways we can get the data/measure the market so that we are able to have enough information to plan effectively? To be an adaptive and innovative firm, how can a firm continue to grow and grow and expand their ideas when they hit a potential "writers block" and no longer have any good new ideas?
4. Nothing in this chapter was confusing! I liked all the topics covered in this chapter.
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