Do you agree or disagree with the following statements? Explain Why.

Well I do agree with most of these sayings especially with the  last one that goes like I should use credit sometimes because it help building kinda like a reputation so when you really need money, you can have it. I don't agree so much with the second saying that says if i can't afford to pay something, i should not buy it. I think you should be able pretty much whatever in mind but of course always have a limit because you do not want to spend too much and not be able to pay it back.

Managers engage in 5 primary activities

Planning is basically dealing with deciding in advance the most appropriate course of actions for achievement and organizing is simply bringing together physical, financial and human resources. Leading is organizational methods to work efficiently for achievement of organizational purposes and the last one is measurement of accomplishment against the standards and correction of deviation. The advantages are that they help to make a good business but the disadvantages is that is might take a lot of time to do it right.

Business Opening Activity/ Day 48

So we launched just yesterday, we started making more posters, we made a facebook fan page and we are currently thinking about other ways to advertise our business. Everything is going great to far. We did find one customer. I would say that we are managing the business very well, i mean we got one customer only one day after we launched the business and that is ten dollars right there so it is actually pretty good. I think we should work faster for the advertisements because we just have two posters and a facebook fan page so far. But let me tell you something, we are not giving up, we are going to work very hard until we get the job done correctly. 

Name a product that is in the decline stage of it's life cycle/ Day 47

A product that is in the decline stage of it's cycle, i would say Sprit, the soft drink. I think many other companies have a similar product that is really alike sprit but much cheaper. Like the other day I saw a commercial of a drink that was very similar so sprit but it was made the presidents choice and it was only 89 cents for a two litter so that is very cheap. Also one of the main reason that I think that sprit is in decline is because they don't do commercials anymore so this could be a factor.

What did you like about the product? What did you wish was different? Who would this product appeal to? How could you market to them within the school?

I think it was pretty simple and easy to use the program, I didn't any help or whatsoever. However I wish it was faster, sometimes it took me a while to upload a photo or a picture. I think this product is very useful and it is a very good for promoting a business or a specific product. I think there are many different ways to market them in the school and still make a load of money. We could put them up downstairs on the main tv and this way a lot of people are going to have the chance to take a look at them. And it is good advertisements.

What is your least favourite ad? What is your favourite ad? Put an example of a good and a bad ad on your blog.

My least favourite advertisement are the ones that play over and over again. Like those silly commercials that are on ytv that promote barbies and many other toys. The concept itself is deja vu, people are getting tired of those commercials. Now my favourite commercials are the ones that are very special and unique. A good example of that would be the Heineken ad. They turned a real building into a pack of beer. How original is that? I've never seen that before and this is what it makes it so interesting.

Which idea did you like the best and why?

The idea that I liked the most was definitely the Volkswagen advertisements with their fast line thing. Everybody seemed to like it and they were having so much fun. I wish I could try that instead of taking the stairs. That is what I call good commercials for their products. I think it was a very interesting idea to put kinda like a ramp do instead of using the stairs people could have a little fun and it would save them a little bit of time to get to their destination.

Do you think they are right about generation Y? How can you use this "consumer behaviour" analysis to further your company?

I think from the bottom of my heart that they are absolutely right about everything they said about the generation Y. But I gotta admit, there were a few things that I did not understand about what he said in the video we watched. But overall it was very good. You can use customer behaviour in many different ways to get better result in terms of finance. And this means making more money which is the principal goal of a business.

Power Point Presentation

The PowerPoint presentation about our business is on Saad's blog. = )

What does this story teach you about customer service, customer loyalty, customer relations and the customer experience?

It teaches that it is very important to have a good customer service when it comes to a business because this is what people are looking for. When your customer service is not good, most people would not be interested to your business even if offer great products. Everybody who has or own business knows that the client is always right no matter whats. Someone who has a good customer service always have a successful business and there is a reason for that.

Is it possible for a business to be solvent but not profitable? Why or why not?

Yes i think it is possible, as long as you don't lose money. I mean a business can run very well, maybe doesn't make a huge profit but still it's not like the business id going down. It is possible for a business to make just enough money so the business does not shut down. You know enough money like a breaking point. In fact i'm pretty sure there are a lot of business out there that make just enough money so they don't actually need to close their businesses

Opening activity Day 39

Liabilities are obligations of the company; they are amounts owed to creditors for a past transaction and they usually have the word "payable" in their account title.assets are economic resources. Anything tangible or intangible that is capable of being owned or controlled to produce value and that is held to have positive economic value is considered an asset. Equity is simply having the same rights, being equal, no one is superior or inferior. current asset representing the cost of supplies on hand at a point in time. The account is usually listed on the balance sheet after the Inventory account.