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This paper produces a reflective report by demonstrating an awareness of the learning journey of our team members. The learning journey has undertaken during the business plan developed by our team in the module of “Managing Enterprise”. To produce this reflective report we have applied Gibb’s model of reflection. According to Stephanie (2013), this model is effective for reflecting facts and incidents regularly or occasionally.
ELN (2017) said this model includes six steps that are description, feeling, evaluation, analysis, conclusion, and action plan. University of Cumbria (2017) disclosed that this model is suitable to reflect on different situations. This I model is useful for the novice to start from an easier starting point. Then, the users of this model can convert their knowledge and understanding into change actions. However, this model cannot provide effective outcomes in uncertainty and unrealistic practices and complex situations (Dye, 2011).
According to Dye (2011), the description part should explain what the reflector is reflecting on to the reader along with the background information. In this reflective essay, I reflect on the learning journey we have undertaken from the team’s business plan developed as part of the module tasks. A number of people were selected to work in a group and to develop a business plan. In this business plan, we first defined the aims, objectives, vision and mission of the proposed business. Then, we outlined the business overview and conducted a market analysis.
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Then, we did a market plan for the proposed business focusing on marketing mix or 4’Ps (product, price, place, and promotion) and strategies on the competitive situation, and competitive advantages. Next, we outlined the management and operation focusing on required manpower, HR strategies and planning. Finally, we outlined the financial resources for the proposed business focusing on the capital required, and potential financial sources including internal and external financial sources, business income statement and cash flow. This business plan has developed my knowledge and understanding of how to create a business plan for any business organization.
The feeling section discusses the thoughts and feelings regarding the experiences of the reflector. We could successfully develop an effective team to develop a business plan (Cumbria, 2017). The team members were very friendly, cordial, hardworking, optimistic, co-operative, dedicated and deviated. That is why the team members, including me, enjoyed and learned a lot in working together and developing the business plan.
In the first part of our business plan we had to develop business aims and objectives, and vision and missions. I had poor knowledge and faced difficulties to develop SMART business objectives. I shared my limitations with other team members. They were very happy to share their knowledge and understanding with me that helped me to clear my idea and develop objectives for the business plan. Our tutor/supervisor was also helpful and supportive……….