Individual Reflective Report Essay Example | Topics and Well Written Essays - 1500 words - 3

Individual Reflective Report - Essay Example The company will also create an online meeting place for the players to play against each other or just participate in different tournaments depending on their ranking. A Fair Play policy will be enacted and implemented in order to ensure all customers are satisfied with the gaming experience and receive the games in a fair manner (Minniti, 2007). Some of the benefits of the game prepaid card include the convenience for the Chinese customers who do not have bank accounts or credit cards such as VISA. The card will also allow the redeem gifts such as energy packs, air travel tickets and household equipments thus enhancing the customer experience. The game prepaid card will ensure customer privacy and reduce the chances of online fraud since customers will not necessarily need a credit card in order to subscribe to the games (Minniti, 2007). The players will have the opportunity to select their own gaming mode. For instance, there will be an option of tutorials, custom games, ranked ga mes and normal games. The ranking will be done according to individual player’s performance whereby highly ranked players will have an opportunity to play for a $ 1,000,000 global final. Idea generation Business idea generation entails the process of generation, developing and communicating new business ideasThe business idea generation process was the most challenging for the team. However, we maintained a clear focus and creativity through reviewing different ideas. Accordingly, our idea generation approach followed a entrepreneurial approach since we were interested in coming up with new and innovative ideas that could meet the needs of Chinese game players with no access to domestic online gaming products. As a group, each individual was tasked with doing a market research on the gaps in consumer needs in the online gaming industry (Minniti, 2007). We held several brainstorming sessions whereby each member was supposed to provide numerous suggestions on business opportuni ties that could be viable within our budget. For instance, several methods recommended establishment of online ticketing business while other preferred the establishment of food chain restaurants. However, our criteria in reviewing the several ideas was aimed at ensuring the viability of the business, minimal capital infrastructure and innovative idea that is exciting to the customers in order to ensure quick market penetration. The team considered the several strengths and weaknesses of each business idea including the consumer market trends and demand. The idea generation process also considered the competitors products and human capital requirements for the prospective business. The second phase of idea generation was screening the benefits that the targeted market would receive from the business and the growth prospect of the business idea. Other issues that were considered include the technology requirements and legal framework surrounding the business idea (Minniti, 2007). The next step involved product development and testing in the market. This involves understanding the consumer purchasing behaviour for the game prepaid card and costs of marketing the prepaid game card. In this stage, we outlined several perceived benefits that could be used in the