Today was creativity day and I took part in the activity "Enterprise" which involved creating a product which we would then sell during the summer fair the next day. We put ourselves into groups of four and my group decided to produce a lottery which involved people buying tickets for 50 roubles each and having the opportunity to win a prize. To make this lottery more attractive to people, we created 3 prizes so that there would be multiple winners and there would be a higher chance of each individual winning compared to if there was only one prize. We decided to have the same prizes in order to same time since we would produce it all at once, however, a variety of prizes could have been won to add variety to our lottery.
We had everything planned out which is why we ended up having a lot of free time which we used to conduct market research and estimate how much money we could raise from this product so that we knew how much to produce and if we should lower the price or not if not enough people wanted to participate. This market research paid off since we were able to gather useful information including that some people found the prize mediocre and others just didn't want to use money for this product. Nevertheless, our research shows that there was a sufficient demand for this product to give us a significant amount of revenue which would then be donated to charity.
Ways in which we could have improved our procedures to produce the product is that we could have been more efficient in the sense that we didn't have a team leader in order for us to feel like equals, however this led to people not being assigned proper roles which was inefficient in the sense that some of us weren't doing anything productive sometimes when we could have been contributing to the launch of the product.
Today taught me to be more communicative and inquisitive since I joined a pre-formed group and therefore I asked them what exactly they had planned and what we were going to do so that I could help them in the making and launching of the product.
We had everything planned out which is why we ended up having a lot of free time which we used to conduct market research and estimate how much money we could raise from this product so that we knew how much to produce and if we should lower the price or not if not enough people wanted to participate. This market research paid off since we were able to gather useful information including that some people found the prize mediocre and others just didn't want to use money for this product. Nevertheless, our research shows that there was a sufficient demand for this product to give us a significant amount of revenue which would then be donated to charity.
Ways in which we could have improved our procedures to produce the product is that we could have been more efficient in the sense that we didn't have a team leader in order for us to feel like equals, however this led to people not being assigned proper roles which was inefficient in the sense that some of us weren't doing anything productive sometimes when we could have been contributing to the launch of the product.
Today taught me to be more communicative and inquisitive since I joined a pre-formed group and therefore I asked them what exactly they had planned and what we were going to do so that I could help them in the making and launching of the product.
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