My entrepreneurial idea doesn’t require a lot of special systems but one system that it does require is to keep track of all the transactions. We need to keep track of all the items that get donated into the machine and how much and to whom it goes to. Through excel both the recycle company and the specific universities can keep track of these records. Especially during the competition events on who recycled the most, records of all the donations are needed. Through excel, we can also type in formulas to figure out the average amount students are making and how much the school is profiting from these “supercard” money.
Different types of graphs and charts can be made to post on social media sites to show how well this machine is doing and how much it’s helping the environment. Excel can be used to figure out the statistical portion of the business. Pretty much any financial solution can be done with excel since Microsoft excel can help access any data. This can be used for the company’s own records or as marketing and advertising method. Excel can help my entrepreneurial idea by backing up the product with positive results and statistics that can be shown to my product users and social media sites.
One thing the company needs to careful about is privacy. Whether it’s for Facebook or the machine itself, Security should be a big factor. Since the machine scans student IDs and deals with money, the security system needs to be tightly under control. And each session should automatically end after a certain time like an ATM machine. The social media sites should definitely be kept private but at the same time have enough general information so the public can see. Privacy and security is something that is very important for every company and it's product.
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