Managing Enterprise in the 21st Century: University of Wales (GC058)

Table of Contents

Managing Enterprise

Introduction.

Description.

Feeling.

Evaluation.

Analysis.

Conclusion.

Action plan.

References

Introduction

Through this paper, a reflective report has been explained on the journey of our team members’ learning sessions. The ride of our learning session was initiated while evolving the business plan by our team in the form of managing the enterprise. Gibb’s model of reflection was utilized by our team while conducting this reflective report of our learning journey. To reflect any experiences or incidents on a regular basis or occasionally Gibb’s model of reflection is a very efficient model. In this model, there are six stages.

They are description, feeling, evaluation, analysis, conclusion, and action plan (Mindtools, 2017). Through this model, various situations can be reflected. This model is very effective for beginners for reflecting on their experiences. Eventually, the users of the models can turn their descriptions of the incidents into action plans. Nevertheless, in situations where the consequences are unsure and doubtful, this model is not very effective in those cases (Lia, 2016).

Description

The description section should describe the reflection of the reflector’s experience with sufficient context so that the reader can understand the reflective part easily (Ivory research, 2017). In this reflective paper, the learning journey of our team has been mainly reflected. Our learning journey was initiated by the business plans as part of managing enterprise modules. Our group included a number of people. Our main responsibility was to develop a business plan. During developing this business plan at first we defined the aim, objectives, mission, and vision of the business. Then we designed an overview of the proposed business. Then we conducted a market analysis on the proposed business.

Then we utilized the marketing mix of 4p’s to define our marketing strategies for competitive circumstances and comparative advantages of the business. The marketing mix of 4p’s included products, promotions, place, and prices (Murphy, 1986). Then we designed the management and business functions concentrating on the strategy and planning of HR and required workforces. Lastly, we designed financial planning. The financial planning was made concentrating on needed capital, possible financial origins such as internal and external sources, business income state and cash flow. Through this planning of business, I have gained knowledge on how to produce a business plan for any company.

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Feeling

The feeling part of the reflective model should express the feelings and emotions concerning the reflector’s experiences (Mindtools, 2017). According to my feelings, we were successful to make an efficient team. All the team members were very amiable, co-operative, supportive, encouraging and helpful towards each other. At the same time, they were very hardworking, optimistic, energetic and diligent towards their responsibilities.

For this, all of the team members including me relished and enjoyed the work and learned to a great extent during developing the business plan. We had to define the aim, objectives, mission, and vision of the business during the first part of the business plan. My knowledge in the field of developing the SMART business plan was not very good and I encountered some challenges in planning that.

However, I told my teammates about my limitations a d shared my difficulties. My teammates were very supportive of my limitations. All of them helped me by sharing their knowledge with me. They helped me to understand the objectives of the business plan and cleared my context about the business plan. I also got support from our supervisor. In the process of the business plan whenever we encountered any challenges we contacted without a supervisor. He helped us by giving his precious instructions, guidance, and suggestions………..

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