Individual Reflective Report Essay Example | Topics and Well Written Essays - 1500 words - 2

Individual Reflective Report - Essay Example My group identified the huge potential in this sector. We plan to establish a company which deals with selling game prepaid cards to Chinese players. Why the Chinese? This card, which is top up for Chinese internet games, helps Chinese players who are out of their home country to access a reliable payment method in order to access their favourite games just as if they were in China. The Chinese internet banking needs are cumbersome unlike payment methods such as VISA. Our prepaid card makes the whole process of accessing one’s favourite game so much easier when the player is in a foreign country. There are a number of other companies providing a payment method though not exactly the same as ours. We will compete with them due to our projected lower price. This lower price is as a result of operational efficiency and cost associated with a smaller workforce capable of multitasking in different departments. We plan to retain all our customers due to our honesty policy by which w e work for the best interest of our customers. The staff should have good knowledge of internet gaming and online transactions. The company should create a website to facilitate online payments and also set real world stores. There are more than enough suppliers who would be willing and ready to increase our penetration into the target Chinese market via internet. Process of Idea Initiation The process of idea initiation was quite interesting. Each and every member of my group had an idea to propose. Some of the ideas were quite interesting but were quickly objected due to the existence of highly effective competitors. Other ideas were ruled out due to varied reasons such as lack of enough information about how prospective the to-be proposed business would be and lack of originality. After intense discussion on which idea our group would embark on, the group did not come up with a final decision. We decided to dismiss the group and meet on a later date. Every member of the group was supposed to refine his or her idea before the next meeting. On the following meeting, all members showed up. Some dismissed their previously proposed ideas due to reasons such as lack of enough information, them being not practical and low success potential. The group was left to choose between three ideas. Members of the group discussed on the specifics of the ideas before voting for the best idea of them all. A clear majority of the group members agreed on the game prepaid cards as the most lucrative and potentially successful business idea. The occurrences of the process of idea initiation match content of literature. Brainstorming is one of the most common ways of coming up with new ideas. Pinson (2008, p. 21) advises that immediate decision on the best business idea should not be immediately made since brainstorming lacks the virtue of enough information. Group members should dig deeper into knowing facts and other relevant information of their proposed ideas before reaching a n agreement. Making a decision straight away after a brainstorming process may result to the dismissal of the idea due to poor project fundamentals later on after time and other resources have been invested in developing the business plan. Team Work I enjoyed the level of cooperation and the group’s synergy. Majority of the tasks assigned to group members were completed on time. This shows the dedication of individual in making the team work come out successful. Team members contributed in form of