A different type of Reflective Writing, EB2.

From my understanding, Revenue Models means methods used by businesses to get income.

There are 6 methods. Web Catalogue, Digital Content, Advertising Supported, Advertising Subscription, Fee for Transaction and Fee for Service.

Only one out of the six is easy to understand, due to its obviousness. The rest aren't. Easiest is Web Catalogue, obviously its catalogues on the web. But its downhill from here if you dont try to understand what it means in your own words of what comes next. I for sure will try and have tried my very best to understand in my own lingo. Hey it doesnt mean you don't follow what the Lecturer says, its wrong you know.


Anyhoots, to summerize what I've learnt and so that I can easily get it the next time I need to revise. Digital Content are digital products sold online example MP3 and movies. Advertising Supported are advertisement through Radio or TV.

Advertising Subscription is another different thing, don't get confuse between the two. This time it's about people subscribing for magazines are given early access of what the magazine is going to be like but, online. Sneak peak as I would describe it.


Gotta be careful with this next one though, always gets in the way of joy. Say Airasia are selling tickets for BND5 to and from Kuala Lumpur, the charges for taxes, fuels, seats and processing fees are called Fee for Transactions. In another way, it is also called hidden charges. And to have thought you only need to pay $5, see what I mean by 'always gets in the way of joy'?


Fee for Service. Hmmmm. I hope I get it right. It's fee for services given directly to you. Literally. One of it is Spa or Salon.

SWOT Analysis

McDonald's 

 

 The birth of McDonald's began with Raymond Albert Kroc.

Ray Kroc was the exclusive distributor of a milk shake maker called the Multimixer. Meanwhile, two brothers, Richard and Maurice McDonald owned and ran a hamburger restaurant in San Bernadino, California, in the 1950s. Ray Kroc heard how well the McDonald brothers were doing using his Multimixers to serve their customers. He met up with them and acquired the franchising right from them to run McDonald's restaurants.

 In 1955, Ray Kroc founded the McDonald's Corporation and opened the first restaurant in Des Plaines, Illinois. In 1961, he bought out the McDonald brothers. Now, McDonald's is the world's largest chain of hamburger fast food restaurants, serving around 68 million customer daily in 119 countries. Whilst in Brunei, the first was opened only on 15 December 1992.

Strengths

What does the company do well?
Is the company strong in its market?

Does well in serving/providing it's customers. And yes it is strong being the only one in Brunei. It is at a strategic location too, one of the centre in the country. In some way, McDonald's overshadows some of the local businesses.

This was in the papers, today. Well done McDonald's!

You can copy then right click and choose 'open link', I haven't got the brains on how to link it directly yet.

http://www.bt.com.bn/happenings/2012/04/25/mcds-rewards-top-crew-member

Weakness

What does the company do poorly?
What problems could be avoided?

Being the only one in Brunei is also its weakness. Because anybody who wants to get something from there have no any other option, no other outlet to go to. Thus long queue, also because of minimum counters. It is not a 24 hours operated so maybe they can push the opening hours abit more if 24 hours can't be done. I've mentioned their strategic location, just not that it is located at the most busiest centre in the country. I have no hesitation in saying that they can start thinking moving to a more strategic building to expand their outlet where drive through can be provided for people who doesn't have time to search for parking space. Get more workers and open more counters. Before I forget, ever since it's opening I never remembered the restaurant being renovated. Management needs to work on upgrading their looks to lure more customers and to upgrade their system. It's a shame if foreigners/visitor were to go there, and compare it with their's because we only have one outlet yet it can't be maintained properly.

Here are some feedbacks I got from searching the net regarding about Brunei's McDonald's,

"Brunei has only one outlet at the most busiest centre, therefore hard to look for a parking spot if you wanna eat there",

 "The place is scruffy, not been updated for years and looks incredibly run-down. McDonald's should spend money on it",

"The queues!! Especially during peak hours my god... its like going to the bank on payday!"

Opportunities

Do new markets exist for the company?
Can new technologies be exploited?

Yes, it does exist. They can try using e-business with creating a website. And with creating a website, they would need a service provider to install putting up the website. So the service providers are the new market for this business. Providing wireless is another one, both for new markets and new technologies.With installing wireless, customers can bring in their laptop to do work or just to surf the internet while dining in. And like I've mentioned above, e-business. Make a website so customers would know what their menus are, what to expect to be served from McDonald's. Promotions and all. And maybe order through online, then either to be delivered or it'd be ready for pick up so there wouldn’t be long queue. Another thing for these two questions, McDonald's can try thinking about getting installers for upgrading their cashier register. Use digital computerized cash register so all their data base can be kept there, makes it faster and easier rather than the register they're using at the moment.

From this,

to this.

Threats

What are the competitors doing well?
Are there changes in the business environment?

Competitors are doing well because they have more than one outlet. They can provide more service from receiving more customers. Sometimes it's cheaper too. Perfect examples would be AyamKu, KFC, Jollibee. An outlet of the competitor's can communicate with their other outlet if there was something that a customer want but isn't available in the current outlet. Regarding about changes in the business environment, I can't really say much. So far nothing has come to my attention that can actually make me compare. I'll do more research on that and will update again once I'm done with it.

Conclusion:

Reflective writing, Miss Nina's classes.

First day, 16th April 2012, in class, didn't do anything much. Met people, everybody’s introducing ones self. Second day, 18th April 2012, was about E-Commerce. Gets interesting each day.

 

 Made me understand, not entirely but more than I knew before, what e-commerce is about. How it works, what the processes are. I’ve had my own small business before, on Facebook if I might add, and if I were to start over I think it'd help me more.

I feel pumped learning about e-commerce! Gives me hope that someday I can restart my business venture, bigger! Knowing, having the knowledge of what to do, to expect. One thing that still roams my mind though, ‘Business processes that support selling and purchasing activities’, I still can’t get that right. I don’t understand what it means.

I might ask my lecturer in the next class, OR maybe she can comment on this when she reads this. Hi Miss!! I’d call you Nina since you don’t like being addressed as miss, but sounds different. Well, maybe someday.

Oh yeah, class overall was good people were great. New friends, new environment. Everything’s going well, Alhamdulillah.

First day in class

16th of April 2012, FIRST day of class. So far so good.