Sean Coates
Professor Fleury-Lawson
Business and Society
12/13/11
Course Reflection
This semester in business and society I was enlightened by the ways of many entrepreneurs before me. I learned the basic traits that took some people from just having an idea to starting multi-billion dollar corporations. Hard work and determination can take you very far in life as shown by Nick Graham, Steve Ells, and Jake Burton. You have to follow your dreams and focus on what you love.
I learned that the business world is constantly evolving and you have to stay extremely focused if you want your company to remain relevant. Though everything we know is changing through technology, core business principals will always remain relevant. Taking risks, understanding where to invest your time and money, or just general supply and demand will always be cornerstones of business.
Franchising really sparked an interest in me. I know if takes a lot of money to get a franchise started but I feel like the rewards are tenfold. You already have an established brand and a time tested product. Those may be the two hardest things to come by when starting a new business by yourself. Through franchising businesses can expand greatly without having to directly oversee every branch. They can franchise out some stores and still make revenue without having to do all the work.
I never realized how many parts there was to running a successful business. You have to deal with so many different setbacks and the numerous people that you can encounter along the way. You really have to love what you do if you are going to start your own business. Just because you can make your own hours does not mean that you would be working all hours of the day. Many people become consumed by their will to become successful. Those are the people that really make a statement in the business world.
3 comments:
I love the inspiring video. It reminded me that you can do whatever you put your heart into. Entrepreneurs where in your position with no clue what you want to do in life and then one day when that one idea comes to mind, you can be set for life. The big businesses come from one person and one idea because the light bulb went off in their head that the world needs this and that will make the people buy it. My dad is an owner of his own business and he tells me and shows me how much work it takes but it all pays off in the end. I don’t believe I will be going into this type of business but neither did my dad. One day can change your whole life for the better. In this course it made my knowledge about business broader and know I am well educated in the field.
I totally agree with Sean, and even mentioned in my own blog, that the business world is constantly changing and in order for one’s business to stay afloat, one has to be extremely focused and open to new creations and ideas. My focus in this comment is going into more detail with how new inventions in technology has become such an important factor that it is always changing and creating new and easier ways to do business.
Through better means of communication, it has linked countries to countries and provided simpler ways for global companies to reach their clients. iContact is one of the technological resources that we learned about in class. It is an online service that links big companies with their clients and makes business easier to handle over long distances.
Another form of technology that has improved the business world is a database that IBM uses to match employee skills, experiences, schedules, and references with jobs available. This helps them find a needed worker for a particular job with the qualifications that they are looking for.
A third invention is another online service called Workforce Acquisition. This program helps determine possible hires by having the applicant answer questions about job experience, personality, and their preferences. Once done, the computer sifts through the applications and suggests to the employer, which applicants seem most promising and also what questions that they might want to ask them in an interview.
Technology is changing society and if one does not choose to engage in it, they take the chance of being behind in the business world. Technology has lead to many more efficient ways of doing business and managing it. In most cases, it makes life easier and brings many benefits, as in money savings. This is why keeping up with technology is so important in the business world.
Shawn, I personally enjoyed reading your blog post and realize that you and I shared a lot of key points and interests. You wrote that the business world is constantly changing and I couldn’t agree with you more. That is why I wrote it in my blog post as well. Another thing I agree with in your blog post is that you need to enjoy what you are planning on doing for a career in order to run a business of your own. If there is no motivation drive and no work ethic, there will be no success and only failure. I also enjoyed watching your video clip that you posted. It is very inspiring to young adults who are students such as ourselves because it is a motivator. After watching that video, I truly did feel inspired and makes me realize that anything is possible in this world as long as you work hard at it and set your mind to it.
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