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Entrepreneurship Project Reflection

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Submitted By kaayee
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Individual Reflective Report
Minerva, is the name of our group which means wisdom and intelligence in Roman. Our group consisted of 5 students who are Serene Phua Sweet Ling, Ng Shin Kin, Perry Lau Hwai Cheng, Lee Yong Chee and I. We truly believe the idea of drive thru convenience store could actually work due to it is a new business idea that never exit in the market. However, things did not go well as we received refusal in collaboration with petrol station. Our initial plan was to collaborate with petrol station such as Petron or Shell. However, they rejected our idea, as they do not show interest in collaborating with us. Thus, we have to opt for second plan, which was operating a brand new business. In addition, we applied several theories in our project such as SWOT analysis and marketing mix. SWOT analysis was strongly emphasized as it helps us to clearly understand our strength, weakness, opportunity and threat of our business so that we could make adjustment to overcome the problem we might face. Other than that, marketing mix delivered a clear understanding to us based on what product should we offer to our customer with the most valid price at the most preferred location comes together with the most appropriate promotion. Overall, I truly believe that our business idea will be workable and it could operate successfully if it supervised properly. Apart from that, conflict is inevitable in a group. Conflict occurred among all of us, as we did not have a mutual agreement and different viewpoint on our business idea. We proposed several ideas such as themed food street, ordering machine, advertising firm and so forth. Eventually, we solved things out by using voting and hence drive thru convenience store became our final decision. On the other hand, another problem that arise is group member might not contribute equally to the project by not showing

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