Hello, guys!
How is everything
going? I hope you are fine and ready for my last post. Yes, my last post, I
know it is sad, but everything that is good in life one day will come to an
end. Now, let’s start to talk about what is the point of this last post. This
post is about what I learned and how was my overall experience with this blog
project and with my course in general.
The first thing I want
to talk about is the concepts to make business decisions and the evaluation of
its outcomes, because the way this course taught that was really interesting.
We used a tool from a website called mhpractice.com, where we made groups to
sell backpacks, with this software we spent money on advertisement, changed
features of the backpacks, among other things. Then, we analyzed the results
and changed some things in order to get a better net profit at the end of the
next week. This was a really fun and interest way to learn all the things
involved in marketing a product, form controlling the budget to invest in
promotion, to the price and places we would sell our product.
This game that we
played also help us to develop the ability to participate and communicate as an
effective member of a group, because every week we need to sit down together
with our team members to discuss what would be our changes in the strategy and
in our product to try to have a more successful company, alongside to that we
also had a great amount of group activities in class, to come up with solutions
to different problems, or with ideas to new products, or even just with
different examples for some situations.
Another concept that
the game helped develop was to use experimental learning to improve our
knowledge and skills, because as I said before we did a great amount of things
inside this game, from hearing feedback from our target market and decide the
features of our product, until choosing the channel of advertisement that we
would use.
The income statement
we needed to do to evaluate our company in the simulation is a great example of
building a decision model in Excel to evaluate decisions and outcome of our
simulation, another great skill that we develop during this semester. The
income statement also helped us to learn better how to analyze and evaluate
basic financial statements and business formulas, such as Return on Equity,
profits, among others.
I cannot forget to
mention the fact that we had to present a TED Talk and criticize two
commercials in front of the class during this semester, we also had to peer
review blog post from our colleagues of the marketing course and we had to
right a blog, after all it is where you are reading this post right now, these
three things are a great example of using written and oral skills to persuade a
target audience.
So, that is it. I hope
you guys enjoyed this journey. I really appreciated it everybody that read my
post and showed me some support. Thanks for everything guys!
So long guys, and thanks for all the fish!
Leo.
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