Wednesday, November 30, 2011
MAGNET SCREEN DOOR: INNOVATION AT ITS FINEST
Innovation is the creation of a great new method, idea, or product. In this case, this magnetized screen door is a new idea that created a new product which now makes life simpler for thousands. The reason this caught my eye is because it's so simple and honestly I should have thought of this. I have a million animals at my house and the amount of time spent walking back and forth to the screen door to open it for them to go in or come out is crazy. With this innovative idea, cats and dogs can walk in and out when they please without the door being wide open for bugs to get in.
SAP
The SAP game was a big learning experience for me because it was hard to get everything correlated together and have the timing right to get more inventory and sell it accordingly. The biggest pain in my eyes was deciding how to price our bottled water and getting our margin up. We for some reason just could never break the 10% mark which most groups seemed to be achieving. Ultimately our sales were great it was just the amount of profit on each sale was significantly less than most other groups. My group ended up finishing in the middle of the pack which is better than the first day but there was defiantly room to improve considering we knew where we messed up: Pricing. The biggest things I learned during this activity is that the business world moves quick and with the increasing technology available it's only going to move quicker. The other important aspect I learned was pricing determines a lot of your success regardless of how many sales you have. To end on a good note though, our marketing strategies went very well as we had more sales and less money spent on marketing than just about any group.
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