MitSake

[mitsake93]

Path to Success

In my experience with the classes in the entrepreneurial mind, I learned about the Business Model Canvas or the BMC. First of all, what is BMC? Why is it important in being an entrepreneur? Or why is it important in a business? 

A business model is a framework used to design and depicts how a business might create and capture value. In our class, we had a group activity that involves reporting and creating our Business Model Canvas in which one of my group mate’s ideas is the one that we went with. Her business was about fact-checking incorrect information, and when we reported it was a disaster since every one of my groupmates didn’t have the internet at that time so I just took charge and reported impromptu. Even though it was not well reported because I only had one part of the whole report, I think I did well enough. But that was an experience that I really liked, and was glad it happened. I learned about things pertaining to businesses and how it works, I also learned when I reported being more confident in speaking with many people or in that case our classmates. It was a wonderful experience and I’d hope I can experience it again, especially in our face-to-face classes.

[mitsake93]

Entrepreneurial Journey

Before we start. What is an entrepreneur? An entrepreneur is a person who takes the risk of starting their own business based on an idea or a product they have invented, taking on the most of the risks and reaping the majority of the gains. In our classes, we learned the basics of being an entrepreneur. We were given an activity about the Berkley Innovation Index Text Test. There, we saw and assessed our mindset in innovation, in which I have a brief understanding of what I am capable of. The next activity that we are tasked with is to present a venture proposal and there we brainstormed ideas that could be a business while helping those in need. Since our course is in psychology, I thought of a way that I can help those in need while making money out of it. And then our next activity was the rejection therapy activity. Where I personally learned the value of not giving up and not being discouraged about failing or rejection. I remember a time when one friend of mine told me that “Failure doesn’t make you a loser, in fact, failure means something. The word fail means First Attempt In Learning” and that thing that my friend told me is now stuck in my mind and made my mindset change in how I handle rejection. And all this activity is going to help me in my entrepreneurial journey.

[mitsake93]

1st meeting continuation

1. SENDER/ENCODER The sender also known as the encoder decides on the message to be sent, the best/most effective way that it can be sent. All of this is done bearing the receiver in mind. In a word, it is his/her job to conceptualize. The sender may want to ask him/herself questions like: What words will I use? Do I need signs or pictures? 2. MEDIUM The medium is the immediate form which a message takes. For example, a message may be communicated in the form of a letter, in the form of an email or face to face in the form of a speech. 3. CHANNEL The channel is that which is responsible for the delivery of the chosen message form. For example post office, internet, radio. 4. RECEIVER The receiver or the decoder is responsible for extracting/decoding meaning from the message. The receiver is also responsible for providing feedback to the sender. In a word, it is his/her job to INTERPRET. 5. FEEDBACK This is important as it determines whether or not the decoder grasped the intended meaning and whether communication was successful.

[mitsake93]

1st meeting

COMMUNICATION    it is from the Latin word "communicare" means "to share" or "to divide".    it is also from the Latin word "communis" means "working together". What is Communication?    According to Merriam Webster, it is the act of process of using words, sounds, signs, or behaviors to express your ideas, thoughts, feelings, etc., to someone else. At the other side Cambridge Dictionary said it is the exchange of information on the expression of feelings that can result in  understanding. Why do we communicate?      It is simply o socialized because there is a saying "No man is an Island". How do we communicate?     We communicate trough verbal or non-verbal. 5 Basic Elements of communication 1. Sender 2. Message 3. Channel/ Medium 4. Receiver 5. Feedback. So, communication is used in different ways and it is used all the time in our daily lives.

Transmission/Linear models -Communication is a one way process in which only the communication is the active participant -The recipeint, meanwhile, processes the information but does not reciprocate the message.