Introduction
Business events are often informative, resourceful, and provide a direct reflective nomenclature that can be transformed into a business idea or used to understand the operation of the business. This paper is divided into three parts. Part one examines the nature of events attended, time of occurrence, location, and reason for the choice of the events. Besides, goals are set for each event, and expectations are listened to in the short and long term. Part two and three examine each event in detail.
I have selected “Global experience at Work” event hosted by the Ottawa Chamber of Commerce at Sheraton Ottawa, 150 Albert Street, Ottawa, on Wednesday, March 28th, 2012 at 8:15 am to 10:30 am. The other event is the “Light Rail Trade show,” hosted by the Ottawa Business Journal and Ottawa Chamber of Commerce on February 9, 2012, at CE Centre (4899 Uplands Drive) 7:30 am. Being an aspiring business expert, these events were relevant to building my career and acquiring a head start in business operation.
The “Global experience at Work” event was mainly organized for the exploration of scope and career opportunities available in the labor market. This meeting encompassed best practices and an alternative approach in doing business through the engagement of experts in running a business. Specifically, the seminar touched on business incubation, the role of entrepreneurship among young people, and career growth in business. In the posting for this event, the organizers promised one on one interaction with the best experts and business consultants in Ottawa.
The “Light Rail Trade show” event was almost a must-attend meeting for the young aspiring business person or those eying employment in the procurement industry. The main theme of this event was the realization of full potential in quality service delivery and transaction efficiency. As promised by its organizers, the event aimed at pulling best practices and professionals in the procurement industry to discuss the potential of the same, challenges, and possibilities of expansion as the world has become a global village.
Also, the event promised a presentation of affordable modern practices that have been developed as a business community to embrace technological advancement. This event presented an opportunity for interaction with those already in business and opportunities available in the expanding industry (Berkhout, 2005).
SMART goals
In the “Global experience at Work” event, the main goal of attending the same was to acquire professional insight and research on career opportunities through interaction with business management experts. This goal captures consultation on planning, financial services, and business models (Berkhout, 2005). In the short term, my expectation was a general understanding of opportunities and acquiring expert insight through interaction with business personalities.
In the long term, I intend to transform the business insight into actual accomplishment by putting into practice practices acquired (Bowman, 2003). Since this meeting attracted the best personalities in different industries, I was lucky to be part of the event that has widened my scope and provided essential information on career opportunities, alternative business approach, and future establishment of the research-based business.
In the “Light Rail Trade show,” the SMART goal is the understanding position and opportunities for small and medium businesses and the latest technology used in the same. This goal encompasses an understanding of the concept of procurement, marketing, and efficiency in transactions and opinions of experts on viability and future expansion (Kandlousi & Abdollahi, 2010). In the short term, I expected to acquire practical knowledge in the operation of business and technological practices for efficient management.
In long term, I intend to establish an online store and offer consultancy in service provision business from information gathered in this event (Wilhelm, 2009). Thus, this event is important in career development and business establishment in the future as it provides an informed practical approach in operating business and expansion modeling (Bruce, 1999).
“Global experience at Work” Event
Attending Event
Question Asked and answers
Which is the most popular business company in online trade? How did they get to that position?
Answer
The most popular online store currently is the Amazons followed by EBay. Amazons has endeavored to offer affordable services to their customer with maximum confidentially and security backup. Besides, they have tailored their search engines to fit clients and have series of payment options through involvement of experts. Through insurance of product on transit, customers are protected from loss before receiving what they have bought. Amazon offers the best discount rates in America. Through quality and competent advice to its customers, it has remained a darling of the Americans.
What challenges am I likely to face when establishing business?
Answer
Establishing business requires proper understanding and research on policies and protocols of the government monitoring agencies. Besides, there are chances that somebody else is already doing your line of business.
How do you handle competition in business?
Answer
Competition in business is manageable by providing accurate information and offering free follow up services to unsatisfied clients. Besides, offering competitive price tag and discounts are long term strategies that may prove important. Also, offering unique product packaging may be an easy ticket out of stiff competition. However, these depend on the right attitude of the employees.
Rating of expectation
My expectations were met in this event. The goals of acquiring professional insight and research on position of business solutions were comprehensively addressed by different informed business expert speakers. Specifically, I learnt new techniques and underlying aspects of establishing and operating a successful business. As a matter of fact, I acquired informative knowledge and firsthand experience with emerging careers. The catchiest presentation by Mr. Brian on embracing technology in e-business was a personal motivation on the journey of building a business based on research and product tailoring as a consultant.
The attendance rate was impressive. Besides, there was no special sitting arrangement for big personalities in different stores. Everybody was free to interact with one another. To my surprise, I sat next to DELL online regional sales manager Mr. Franc, who I came to know when the emcee encourages participants to interact.
The best part of this event was live presentations by different experts in service delivery industry. The most notable presentation was that of Deacons’ sales representative who summarized the process of market entry, surviving competition, and alternative marketing approach through identification of the best employees. The representative was very informed, jovial, and insightful. I laughed throughout his presentation.
The most confusing aspect of this event was the lack of a formal sitting arrangement. Renowned business personalities had to sit among other participants and this occurred with ease. In fact, they seem to enjoy this arrangement and I could eve drop cordial conversations among participants.
Events Reflection
If I had the chance in this event, I would have sought clarification on the process of business management as the presenter was not very articulate despite giving a handout to each participant.
The “Light Rail Trade show”
Questions asked and Answers
Which is the most practical approach in market entry especially when you are faced with a limited budget?
Answer
The most practical approach in market entry would be through advertisement and tailoring your services to meet the demands of potential customers. Most people prefer unique and affordable stuff. Therefore, I you can offer these, and then you are good to go. Remember to always strive to earn self advertisement from satisfied customers and referrals. However, these aspects depend on the nature of your product and financial constraints which you can overcome by piloting the idea to reduce risk in terms of loss.
What is the position of entrepreneurship opportunities in procurement industry now that big players have saturated the market which their affordable services?
Answer
As an entrepreneur, what matters is not really competition, but product tailoring and market segmentation. Besides, there is a need to easily make your products available to customers when needed. At present, unlimited opportunities are available in this industry. Once you have tailored your products to meet the demands of your clients, the market will provide an opportunity for operation and survival as long as these products are competitive in quality and price tag.
What challenges am I likely to face in establishing and running a similar business besides brand name and financial constraints? What would you recommend to reverse these challenges?
Answer
The main challenge besides brand and finance is identifying a potential market and convincing early adopters to try your product. The more the early adopter, your chances of going into full operation will increase. I would recommend research before introduction of a new product in order to pre-establish market trends, market segmentation, and establishment of comparative pricing mechanism. These should be accomplished within a flexible calendar and structure to minimize misinformation due to assumptions business people make.
Rating of expectations
In this event, the goal of understanding position and opportunities E-commerce offers for small and medium business and latest technology used in the same was satisfied by presentations on best models tailored to meet needs of small businesses. I learnt that there are numerous career prospects in online trade that it is the most cost effective business.
The catchiest presentation was on laws and protocols involved in registering, running, and scope of operation for different types of business. Also, I learnt survival in competition and diversity due to market dynamics.
The attendance was impressive. I was randomly picked to give an insight on understanding entrepreneurship position among young generation. Upon completing the two minute presentation, I received a surprising applaud from the happy crowd and was given a Sony Erickson hamper. Generally, this event was more interesting than I imagined.
The best part of the Event
The best part was a presentation by a freelance online blogger who presented actual operation of an online store in power point presentation as an alternative to manual contract management. Besides, he offered free templates for those interested in establishing their own online stores.
In this event, I missed an opportunity of volunteering to assist the freelance online blogger during his presentation. At the end of his presentation, the volunteer was given a free registered online trade site. The confusing aspect was the expensive gift hampers given to everyone who attended the event.
Reflection on the “Light Rail Trade show” and the “Global experience at Work” Events
I would not have wished to choose another event since what I acquired from these events proved essential in short and long term in understanding practical aspects of business operation. However other events are also important in other aspects of business not captured by these events. Given another opportunity, I would be the first to register for future event as attendance comprised of the best in business management.
Event Schedule for the “Light Rail Trade show” and the “Global experience at Work” Events
The “Global experience at Work” event commenced with entertainment and free non alcoholic drink after which event organizers and guests were introduced. After the formal event ended, there was an opportunity for personal interaction with different guests which included asking questions, exchanging contacts, and taking photographs. In the “Light Rail Trade show” event, the same procedure occurred though the interactive process was not as interesting as the first event.
Conclusively, these events offered a comprehensive insight of the corporate world. I the entrepreneurship event, I actually got a part time job offer by a freelance fashion store as their sales ambassador.
References
Berkhout, T. (2005) Corporate Gains: Corporate Social Responsibility can be the Strategic Engine for Long-Term Corporate Profits and Responsible Social Development. Alternative Journal, 31, 2-3.
Bowman, S. (2003). Corporate restructuring: Reconfiguring the firm. Strategic Management Journal, 4, 5–14.
Bruce, A. (1999). Helping employees to accept responsibility for motivation. Motivating employees, 2, 59-72.
Kandlousi, N., & Abdollahi, A. (2010). Organizational Citizenship Behavior in Concern of Communication Satisfaction: The Role of the Formal and Informal Communication. International Journal of Business Management, 5, 51-61.
Wilhelm, L. (2009). Formal and Informal Communication Channels. Effective Interpersonal Skills Journal, 2, 02-10.