Entrepreneurial Management

Ulrich and his cartoon self~

For Entrepreneurial Management class we were tasked to form groups of 4-5 people based on industries or sectors we were interested in. In my case, I chose the Travel / Tourism industry. I find it to be a very promising sector because there seems to be still plenty of untapped opportunities. Likewise, with the rising incomes of people from China / India, we can expect a boom in the amount of tourists flocking the certain destinations.

For this project, I teamed up with Ulrich the M&A consultant from Austria, Dominik the law expert from Switzerland and Mariana the Brazilian telecom pro! Professor Wang explained to us that when coming up with business ideas, there were 3 things to always remember:

1. What is the problem?
2. Who is the customer?
3. What is the solution?

An interesting thing he mentioned though was that the solution need not be a complex one. He cited how NASA had spent billions of dollars to create an anti-gravity ball pen. And the Russians... well, used a simpler approach. They used pencils. 

The final pitch presentation is due in 3 weeks... more group meetings to come! Such is life~