Walden University Wk 2 Amidat Karpovs & Barbara Morris Reply Discussion

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Business Finance

Walden University

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Please read and respond 100 words or more separately to BOTH colleagues' postings BELOW in one or more of the following ways: Each colleague’s post should not be the same.

  • Share an insight from having read your colleague's posting.
  • Offer and support an opinion.
  • Make a suggestion.
  • Expand on your colleague's posting.

IMPORTANT:

  • When giving your opinion and ideas it is mandatory to support your response with 'fact-finding' and quote any research studies you have access to - including your text.

ALL claims must be supported by scholarly sources

SEE ATTACHMENT FOR COLLEAGUE'S POST:

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Please read and respond 100 words or more separately to BOTH colleagues' postings BELOW in one or more of the following ways: Each colleague’s post should not be the same. • • • • Share an insight from having read your colleague's posting. Offer and support an opinion. Make a suggestion. Expand on your colleague's posting. IMPORTANT: • When giving your opinion and ideas it is mandatory to support your response with 'fact-finding' and quote any research studies you have access to - including your text. ALL claims must be supported by scholarly sources Barbara Morris……. FIRST COLLEAGUE POST RE: Discussion - Week 2 "It is important to determine the need for the new idea and pay attention to potential customers and what they need now and, in the future,"(Hisrich, Peters, & Shepherd, 2020). The product I chose is the soaker bathtub produced by companies like American Standard and Kohler. Soaker bathtubs are pretty standard and do not come with many luxuries features that consumers crave for. Soaker bathtubs are used by consumers to relax, soak, and release stress and toxins after a long day with essential oils like lavender, eucalyptus, and rosemary. There are some add ones that I think soaker bathtubs users would love to have. The first creative idea I would develop is a temperature dial that would allow consumers to set their bathwater to their desired temperature. It is hard to get the bathwater to just the right temperature, and then after you have been in the tub for a while, the bathtub starts to get cold. This feature would allow consumers to get the perfect bath water temperature every time and enjoy their ultimate luxury spa-like bath. The second creative idea I would develop is a self-cleaning button that automatically cleans the bathtub drain and jets. This feature would allow consumers to put their favorite cleaner in a slot, and with the push of a button, the bathtub cleans the drains from hair and debris, which could cause costly plumber fees. The bathtub would also be able to clean the jets properly without filling the tub up with water, which makes the water bill higher. The third creative idea I would develop is an attached adjustable headrest. This feature would allow consumers to relax and not have to rest their head on the cold tub. Most soaker tubs do not come with a headrest, and consumers have to buy a headrest from companies like Amazon and Walmart. Those headrests also tend to slip into the water while being used and they also do not stay attached to the bathtub. References Hisrich, R.D., Peters, M.P., & Shepherd, D.A. (2020). Entrepreneurship (11th ed.). New York: McGraw-Hill Irwin. Amidat Karpovs ….SECOND COLLEAGUE POST RE: Discussion - Week 2 Based on this week’s discussion, the product is the importation and selling of used cars. In Ghana, there are no automotive manufacturing plants. Some franchise companies such as Hyundai and Toyota that sell the brand-new cars bring in parts to assemble here and sell. With that said, brand new cars in Ghana are very expensive so the citizen buys the imported used cars from the dealers. The three creative ideas I have for this product are, to have a spare-parts shop, repairs, and maintenance workshop, and eventually have a vehicle auction system. Hisrich, Peters, and Shepherd (2020) stated that in the checklist method, a new idea is developed through a list of related issues. The first creative idea is to have a repair and maintenance shop. Most of the imported used cars are insurance coverage vehicles (accident, flood, hail, theft, etc), and even if you buy a clean car with a clear title, a lot of things happen during loading and offloading of the container. As a result, 99 percent of imported cars pass through repairs and maintenance process before they are ready to be sold at the garage. This will bring a lot of benefits to the company such as cost-saving, being your-own customer, time management, and a job well done because you are in control of the service you get. The second creative idea is the spare-parts shop. Buying beyond-repair accident cars and dismantle them for spare parts to sell. About 98 percent of the imported used cars require some spare parts, the reason being that most of the cars are accident. Buying brand new spare parts and ships along with the car is expensive and dealers usually end up spending a lot of money on parts to get the car ready for sale. Sometimes, dealers spec the car to a newer model to make it more appealing for sale. Looking at the checklist method from this week’s resources, this fall under “put to other uses” “what other ideas does this suggest” “what could I copy” and “modify” (Hisrich, Peters, & Shepherd, 2020). The last creative idea will be to have an online auction platform. Most of this will be done online because it will reduce the cost of yard rental. Also, this allows a customer to purchase a car from their phone or any device. This product will collect individuals selling their cars to buyers looking for a car to buy. Either good looking, affordable, Ghana used car or foreign used car. In general, apart from the garage and other ways of marketing, the company will have a platform where they can equally sell their cars on auction. Hisrich, R.D., Peters, M.P., & Shepherd, D.A. (2020). Entrepreneurship (11th ed.). New York: McGraw-Hill Irwin Please read and respond 100 words or more separately to BOTH colleagues' postings BELOW in one or more of the following ways: Each colleague’s post should not be the same. • • • • Share an insight from having read your colleague's posting. Offer and support an opinion. Make a suggestion. Expand on your colleague's posting. IMPORTANT: • When giving your opinion and ideas it is mandatory to support your response with 'fact-finding' and quote any research studies you have access to - including your text. ALL claims must be supported by scholarly sources COLLEAGUE’S ASSIGNMENT: …….. Post a brief statement that identifies a product and three new, creative ideas relating to that product. Barbara Morris……. FIRST COLLEAGUE POST RE: Discussion - Week 2 "It is important to determine the need for the new idea and pay attention to potential customers and what they need now and, in the future,"(Hisrich, Peters, & Shepherd, 2020). The product I chose is the soaker bathtub produced by companies like American Standard and Kohler. Soaker bathtubs are pretty standard and do not come with many luxuries features that consumers crave for. Soaker bathtubs are used by consumers to relax, soak, and release stress and toxins after a long day with essential oils like lavender, eucalyptus, and rosemary. There are some add ones that I think soaker bathtubs users would love to have. The first creative idea I would develop is a temperature dial that would allow consumers to set their bathwater to their desired temperature. It is hard to get the bathwater to just the right temperature, and then after you have been in the tub for a while, the bathtub starts to get cold. This feature would allow consumers to get the perfect bath water temperature every time and enjoy their ultimate luxury spa-like bath. The second creative idea I would develop is a self-cleaning button that automatically cleans the bathtub drain and jets. This feature would allow consumers to put their favorite cleaner in a slot, and with the push of a button, the bathtub cleans the drains from hair and debris, which could cause costly plumber fees. The bathtub would also be able to clean the jets properly without filling the tub up with water, which makes the water bill higher. The third creative idea I would develop is an attached adjustable headrest. This feature would allow consumers to relax and not have to rest their head on the cold tub. Most soaker tubs do not come with a headrest, and consumers have to buy a headrest from companies like Amazon and Walmart. Those headrests also tend to slip into the water while being used and they also do not stay attached to the bathtub. References Hisrich, R.D., Peters, M.P., & Shepherd, D.A. (2020). Entrepreneurship (11th ed.). New York: McGraw-Hill Irwin. Amidat Karpovs ….SECOND COLLEAGUE POST RE: Discussion - Week 2 Based on this week’s discussion, the product is the importation and selling of used cars. In Ghana, there are no automotive manufacturing plants. Some franchise companies such as Hyundai and Toyota that sell the brand-new cars bring in parts to assemble here and sell. With that said, brand new cars in Ghana are very expensive so the citizen buys the imported used cars from the dealers. The three creative ideas I have for this product are, to have a spare-parts shop, repairs, and maintenance workshop, and eventually have a vehicle auction system. Hisrich, Peters, and Shepherd (2020) stated that in the checklist method, a new idea is developed through a list of related issues. The first creative idea is to have a repair and maintenance shop. Most of the imported used cars are insurance coverage vehicles (accident, flood, hail, theft, etc), and even if you buy a clean car with a clear title, a lot of things happen during loading and offloading of the container. As a result, 99 percent of imported cars pass through repairs and maintenance process before they are ready to be sold at the garage. This will bring a lot of benefits to the company such as cost-saving, being your-own customer, time management, and a job well done because you are in control of the service you get. The second creative idea is the spare-parts shop. Buying beyond-repair accident cars and dismantle them for spare parts to sell. About 98 percent of the imported used cars require some spare parts, the reason being that most of the cars are accident. Buying brand new spare parts and ships along with the car is expensive and dealers usually end up spending a lot of money on parts to get the car ready for sale. Sometimes, dealers spec the car to a newer model to make it more appealing for sale. Looking at the checklist method from this week’s resources, this fall under “put to other uses” “what other ideas does this suggest” “what could I copy” and “modify” (Hisrich, Peters, & Shepherd, 2020). The last creative idea will be to have an online auction platform. Most of this will be done online because it will reduce the cost of yard rental. Also, this allows a customer to purchase a car from their phone or any device. This product will collect individuals selling their cars to buyers looking for a car to buy. Either good looking, affordable, Ghana used car or foreign used car. In general, apart from the garage and other ways of marketing, the company will have a platform where they can equally sell their cars on auction. Hisrich, R.D., Peters, M.P., & Shepherd, D.A. (2020). Entrepreneurship (11th ed.). New York: McGraw-Hill Irwin
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Running head: AMIDAT KARPOVS REPLY

Amidat Karpovs Reply
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AMIDAT KARPOVS REPLY

Amidat Karpovs’ ideas have three main objectives, save time, save money, and ensure
convenience. The ideas propose the modification of an ongoing business to help those who
pursue such ventures become effective in terms of costs, time, and efficiency. Since purchasin...


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