A supply chain disruption struck me hard during the covid-induced lockdown due to canceled flights and reduced postage. My skyrocketing orders fueled by the lipstick effect were stuck in transit without a clear postage resumption date. My press-on nail orders concerned me the most. Customers had already paid to customize hand-made nails, which are crafted by nail-artists in China, then flown over and mailed out individually, a process that took 2-3 weeks. Postage halts may cause dissatisfaction and potential refunds, causing significant losses since I had already paid the artists. I finalized several solutions to minimize loss. For unstarted orders, I informed customers about extended wait-times, granting full refunds if requested. In-transit orders with confirmed delays could receive a partial refund (25%) or an extra set of nails along with future-purchase coupons. Luckily, most customers were buoyed by the compensation, showing understanding and accepting the wait. Surprisingly, my original strategy to reduce losses gained me more loyal customers.This experience has catalyzed my personal and professional growth. It taught me the unpredictability of business and the importance of always having multiple plans. Not everything always goes as planned and we should all embrace the unexpected, constantly reassessing and adapting strategies to the evolving situations Above all, I learned that persevering relationships and emphasizing with customers is the key to long term success.
Supply chain disruption - UBC Sauder commence personal profile: How you responded to a problem.
This is a strong narrative explanation for the prompt. The fact that you based it in your personal experience as a small business owner indicates that you have the background to succeed your chosen masters course. The Covid situation certainly left business owners in a quandary and you perfectly represented how most of them dealt with the situation. You might want to further expand on the discussion by adding how you financially survived the effects of cancelled and refunds though. That way you will show the reviewer several scenarios as these deal with a signle topic basis. It shows you addressing several facets of problem solving. The reviewer will be appreciative of that.