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REFLECTIVE ESSAY- “An Effective Entrepreneurship”Posted: May 23, 2011 in Uncategorized
My first impression on Entrepreneurship was developed when I just read a quote by a student, which says “Entrepreneurship is living a few years of our life like most people won’t, so that we can spend the rest of our life like most people can’t”. When I first read this quote I was really attracted to this subject. As people usually say, and also we all know, that “entrepreneurship is an act of being an entrepreneur and to be specific- one who transforms innovations into economic goods”. I don’t know what my friends and classmates think about this definition but I personally felt nothing about this, until I join this course. Almost a year pass by, I now understand the power of these words. As this module had taught me a very practical knowledge on transforming my innovation to a product. Just transforming an idea to a product or service is very easy, which need not require a master’s program but making it feasible is what I learnt from this module and also experienced the toughness in making people to feel what I think about my innovation.
As said above, the past one-year was a great pathway to experience new things and learning a lot out of practicality. Before joining Kingston University, as most of us think, I believed that a perfect plan will lead to the success, but after experiencing the practical feasibility in creating a product and giving economic value to it, my belief was slowing broadened. At present, I consider feasibility planning as also a vital tool for success.
The main reason behind this correction of belief is by experiencing the various reactions of people in understanding my product, which is an innovation of our group work. At first, our group had come up with an innovative product, a substitute of a woman’s handbag. We consider that as a great innovation and thought that is going to work out really well in the market. That is the point were I use to feel, planning is the only path to success. When transforming our innovation into a product with a lot of hard work in manufacturing our product and taking to people to see their reaction towards it. That is the moment we were lacking with feasibility of our innovation.
My fellow group mates and myself were really disappointed by the failure of our idea. As said by Thomas Edison, a great scientist and inventor “We have not failed but just found a ways that wont work”. This is the second difference felt in me, which is positive thinking and never loose hope. It was just a waste of time thinking about an idea that doesn’t work. So we encouraged our self and started working on a new innovation, which had a considerably good response from the people, this really developed our team motivation skills and helps to understand its importance. I then started looking for its process of making it a feasible one. I sourced the manufacturers who could make the product for us. A product has no value until it targets the right customer and at the right time. Our group considered this as our key motive and worked on it. Finally we had come up with an innovative product and got a proper response almost near to our expectations. The product is a jacket that can also carry a laptop in it. To get a clear idea about our product, have a look at the video in YouTube in the name of B’KOS add or click this link .
The next skill developed in me is the understanding of cross-cultural thinking and behavior. This module helped me in experiencing thinking method and behavior of people from different countries. There was one of my favorite lecture in which each student can share their ideas and can hear other students’ ideas too. That lecture gave me a wide knowledge of business ideas and differential planning method from person to person.
Another important skill that I really feel will help in my future is the team management skill. Our Mace module makes us to work in a group to get our innovative product. Working in a group is almost a rocket science, as first of all we need to understand the capacity of the group members and have to adjust with every member to make our company a successful one. A famous quote by George S. Patton is the best example for the difficulty in team management. The Quote is “If everyone in a group in thinking alike, then someone is not thinking anything”. Our company had three equal partners where we all are leaders as well as the managers. As a best quote said by Warren G Bennis “A leader is a person who do right things, whereas a manager is a person who do things right”, to do right things and also to make things right, we three have equal responsibilities as a leader as well as the manager.
There is a major issue needs to be discussed at this moment, which is the Time Management. I personally feel that my group member and myself could have done much better in succeeding our product and company if we could have managed our time properly and usefully. While writing this essay I remember a famous Chinese proverb “No amount of money or gold can buy our time back” . This proverb and my improper managing of time taught me a great lesson and the method of deciding my future with proper time management skills.
THE TRADE FAIR EXPERIENCE
Mace module offered us three unforgettable trade fair experience. This experience is completely a new knowledge for business management students. It was not only an experience but also a vital tool for all management students. As being future entrepreneurs, this is going to guide us a lot. Our first trade fair was at our university campus, giving a wide opening to attract our target customers. As mentioned earlier, our target customers are students, so it was very useful to have a proper response to our product. As it was our first self-hosting trade fair, it was quite exciting and felt nervous as well. The professors’ encouragement, suggestions and finally the awards distributed are the major things that motivated us to do something extra and innovative in the product.
Our second fair was at a common market place, where we got wider opportunity in exploring our product outside out target market. In this fair, we got greater experience in knowing the responses of the people other then the target customers that is students. Each Fair taught us something new. Practicing fairs made us comfortable with meeting people and explaining out product. Meeting more and more people helped me in forgetting the shyness in me, which was a great drawback in me a year back.
Usually people say, the first impression is the best impression. As the very first day experience in this module was very different and a lot interesting then usual lectures. There are certain key factors that I feel good are the complete new style of teaching, which is much of practical rather then theoretical. The attendance methods, exercise workouts, etc. are much interesting fact of Mace module. Not only the lectures, but also the co-students are very different, as everyone use to have a get-together after the lecture and having a leisure time sharing their knowledge, happiness and much more. The other important fact of this module is that, I get to know something new and different every week in the class. I feel there is no space for the word ‘Boring’ in Mace lectures.
Each MACE group has their long-term goal behind their company and their product. Same as others, my group members are also from an accessory and apparel based background and we all know our future plans. So this company made us the pathway to run back our dad’s business effectively and practically. This module and its project not just gave credits but also taught us a lot more things that will help us in our future business. Personally, after my studies, I am going to take over my dad’s business, which is a garment exporting company. So these skills will help me run that business successfully as well as to expand its wing towards branding and marketing. The main factor I consider that have improved in me is feasibility planning, as this company b’KOS had tried different products and analyzed many feasibility issues. At the end, we, Kannapeeran, Onkar Redij and Sunam Podder, the member of b’KOS planning to continue our product even after our studies and planning to Patent our idea in our country as well. This can be better succeeded and made easy as we three are from the same country India.
In conclusion, I wish to share a famous saying in my mother tongue, which is Tamil- one of the Indian Language, ‘Never leave your leg in the pond, unless you know the depth of the water’. This is an exact translation of that saying, but the ultimate fact is what we have experienced in choosing our product. Even though some products haven’t succeeded greatly, our final product was well planned and well attracted by the customers.