https://padlet.com/ferrec1/akwe61wssmq9 Module 5 Discussion/Reflection en-us 2018-07-04 04:56:08 UTC 2018-07-04 05:53:28 UTC hello@padlet.com https://padlet-assets.s3.amazonaws.com/icons/Manbag.png ferrec1 https://padlet.com/ferrec1/akwe61wssmq9/wish/269341274 My advice for incoming students  would be to definitely start the industry project as soon as possible! Gather your group together on the first week of class to make sure that everyone is able to communicate with each other. 

I would also suggest reading the book as well. This will better prepare you for the class and will give you an understanding of how to do the quizzes each week. 

Taking notes during the quizzes is definitely beneficial as well because they will most likely see these questions again on either the midterm or the final.

]]> 2018-07-04 04:56:08 UTC https://padlet.com/ferrec1/akwe61wssmq9/wish/269341274 ferrec1 https://padlet.com/ferrec1/akwe61wssmq9/wish/269341275 The first thing I learned from taking this Strategic Management class is that even some of the most successful companies have had to endure many failures in their business strategies. It was also very intriguing to learn how these companies rebuild their brands after taking a big loss for their company. 

The second thing I learned from this class is that there are hidden costs that come with opening up your own business such as licenses and additional permits. Since permits take long to process, most business owners start paying for the property even before construction even starts. Because of this, business owners will usually find themselves in debt if they are not prepared for these hidden costs. 

Last but not least, I also learned how extensive and complicated it is to create a full business plan for a company. Researching and comparing numbers with top competitors in the industry was quite challenging as well.




]]> 2018-07-04 04:56:08 UTC https://padlet.com/ferrec1/akwe61wssmq9/wish/269341275 ferrec1 https://padlet.com/ferrec1/akwe61wssmq9/wish/269341276 https://sites.google.com/s/1fDfFqiDwlTIQC-R9RpmTb7iYzm-2hlyP/p/1DliCX0cmqwE5NTWnubenmLEI_ya6UwS6/edit]]> 2018-07-04 04:56:08 UTC https://padlet.com/ferrec1/akwe61wssmq9/wish/269341276