BASIC ECONOMICS
Group Project
For this project, we were divided into groups of seven students to do a comparative analysis of two businesses with similar industry in different geographical locations, one of which is within Klang Valley while another one is outside Klang Valley. We were required to have an interview with the owner of two businesses of our choice from the same industry. After that, we were asked to do a report based on the comparative analysis. First and foremost, we had to make an appointment with the owners of the business, find out when they were available for the interview. Our group had chosen the hair salon business in Petaling Jaya, located in Klang Valley named Hairitage Salon and Seremban which is outside Klang Valley) named Benny Salon.
For this project, we were divided into groups of seven students to do a comparative analysis of two businesses with similar industry in different geographical locations, one of which is within Klang Valley while another one is outside Klang Valley. We were required to have an interview with the owner of two businesses of our choice from the same industry. After that, we were asked to do a report based on the comparative analysis. First and foremost, we had to make an appointment with the owners of the business, find out when they were available for the interview. Our group had chosen the hair salon business in Petaling Jaya, located in Klang Valley named Hairitage Salon and Seremban which is outside Klang Valley) named Benny Salon.
This is our interview video from BENNY salon
This is our interview video from HAIRITAGE salon
OUR REPORT
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This is our group picture with hairitage co-owner
These are some of my notes
REFLECTION
Through this assignment, we have experienced interviewing two hair salons and and know how they became successful in their industry. Although it has only been a 20-minute interview, however, both hair salons has taught us a lot from how they explain what their profession is and how they become successful in their business. The way they describe their profession is very exciting yet motivational and educational. The talk about it make us feel more courageous and enthusiastic to be more successful in our career in now and in the future. Nonetheless, they have opened our eyes to a whole new profession that we, FNBE could never understand. Besides, through the comparative analysis of both salons, we can differentiate and conclude that one salon is better than the other. In this case, we know that Hairitage salon is much more successful than Benny Salon. One of the main reason is that there are more people that are willing to pay in Petaling Jaya than there are in Seremban. Eventhough Hairitage salon's pricing is much more expensive than Benny salon is, however, many people still go to Hairitage salon as more people can afford it in Petaling Jaya. The pricing of a hair cut in Benny salon is one sixth the price of Hairitage salon. After knowing their limitation, we actually know the ways the salons can be improved to make those salons better in the industry. Other than that, through the assignment, we also have to engage teamwork. My group consist of 5 people. Excluding me, they are Teoh Zi Wei, Tang Fu Hong, Lee Xin Ying and Tan Jit Kim. I find that we had great communication among each other when completing the task.
Learning Economics has been really knowledgeable. I would like to express my sincere gratitude to Ms Tay who has been a really great lecturer to us. Thank you so much!
Learning Economics has been really knowledgeable. I would like to express my sincere gratitude to Ms Tay who has been a really great lecturer to us. Thank you so much!