Individual Reflection Report On A Business Plan

Individual Reflection Report On A Business Plan The following reflective journal has been produced by me as a work that redirects my business plan that has been prepared by my group of five members. The main reason for writing the journal is to reflect my work and my role as a team member while undertaking the research for business plan. Other purpose of preparing the report is to present my personal records and include my thoughts and experiences that I have achieved during the project work. The MBA administration of the university instructed me to write an individual reflective journal on business plan that must be critical and analytical. I have ensured it is written to reflect on my work which will also enable the examiners to understand my achievements as an individual and as a member of a team. It will also provide help for supervisors to appreciate my role as a person who can confidently research, gather information, critically analyse, report and present. I have tried my best to be as specific as possible to make this refl ective report as a persuasive essay arguing on behalf of myself. This journal also includes information of research sources, my use of ideas and critical thinking to develop my awareness of the context in which I work. Along with the above mentioned areas, I have described my role as a tackler of a situation, as an important member of a team and as a person who approached any issues and challenges to reflection sheet with confidence and enthusiasm. Also included in this journal are understanding of relevant theories, problem solving, synthesis, strategic analysis, and explaining how I built upon and applied knowledge from taught modules. It has been ensured by me that wok structure must follow section headings and recognise marking scheme. Language is deliberately kept concise and the work is presented taking into account the school guidelines. Problem solving The MBA administration has allocated in a team of five students (including me). The task given to us to work on was a business plan concerning launching a business in Wales. The team members for this task were Ram Lakshmankumar Konda, Soto Santiago, James Joji and Yuvraj Singh. The business we chose to launch in Cardiff was Spectrum International Travel Agency (SITA) which offers services in corporate and commercial traveling. SITA is a partnership firm comprised of five partners with equal shares with a start-up capital of  £400,000. We planned to launch the business in the month of April, 2011 with a star-up capital of 400000 pounds jointly invested by partners who have equal shares and equal voting rights. The assignment required us to make a plan consisting of data regarding marketing, human resource and financial aspects of the contemporary management studies. In this journal I reflected upon my individual experiences as well as an influential member of a team explaining events such as planning, gathering data, analysing, reporting and presenting what I saw, I heard my hypotheses and my conclusions. I also evaluated the effectiveness and efficiency of what was observed. I was selected to be within a team of five members that have already been mentioned above. Although I specifically asked the supervisor to form a team with my friends but the teams were allocated randomly by the management. I was lucky that one of my close friends was on my team. The remaining team members have already had good contacts with me as they were my colleagues and classmates. My initial objections faded away once I started working with my friendly natured team members. All of us were motivated, determined and enthusiastic of completing the business plan. We met for an initial meeting and decided on the type of a business. I was quite influential as for my managerial background and practical experience in marketing and financial pathway. My team members recognised this and realised my natural leadership qualities. It was not difficult for us to select the business type. After careful consideration and brainstorming ideas with members, we managed to come up with a brilliant plan. Luck was on our side as our team members had different study backgrounds and I was naturally multi-skilled. It proved easy for us to divide the tasks according to our strengths. Once tasks were assigned and potential barriers to search identified, we consulted on how to maximize our strengths to reduce our weaknesses, and how to exploit the possible opportunities and remove threats. After that we constantly held meetings to discuss our progress and consult each other to improve our work. We continuously stayed in touch with each other via audio video conferencing and of course mobile phones. Being students from different cultures caused some tensions and some problems such as little understanding of each others ideas, lack of knowledge of some business management areas and conflict in decision making process. I again proved prominent and persuasive and managed to resolve all the issues harmoniously. Disagreements among team members were resolved and we worked together pleasantly. As a contemporary business management student, I had an idea due to my studies that the team capability is superior to the collective abilities of the individuals within it. I learned that working in a friendly environment make the job easier for team. Combined strengths can be utilized if team members work jointly in committed and motivated stance. Apart from problems mentioned above, my team faced some problems such as lack of knowledge in some areas, lack of experience in conducting research, lack of ability to analyse critically, and critical of each other work. We managed to resolve these i ssues professionally. As a team member my learning experience grew as I learned that team becomes a success when members work jointly to create a synergy. When team members know how to be more effective together, synergy happens and greater organizational success is achieved. The lessons that I have learnt being in a team are very crucial and I understood its significance. People bring their unique skills, knowledge and experience which when used in combination with skills and knowledge of other team members, helps in creating a synergy that positively effects the operations and functions of the team. This happened in my situation. Every member was motivated and worked with passion and determination. Increasing the strength of each team member produced greater team success and results. I understood that that collective strengths of team could tackle any problem we face. Knowledge and Understanding By actually participating in a joint research project, I understood the importance of team theory in practice. It provided me confidence to relate the theoretical study with my research. I acknowledged my roles and responsibilities by working effectively working in a team. My communication and coordination skills improved considerably. During the work, I have appreciated the idea of working together to achieve the common goal. I have learned that effective team working is the key to success when there are limited time and resources. Different point of views can be brought forward which could help in effective decision making. I found the energy of group participation made me feel more energetic about contributing something. The thing that helped me understand the approach of my team members is the constant contact and consultation with them. It also assisted me to learn and understand their ideas and experiences. Working with team on a business plan has helped me equip myself with cr itical and analytical skills to make an official report. I felt more skilled in searching various data sources and in using variety of research tools techniques and methods to conduct a research. The proposed business plan concentrated on marketing strategies of the company before during and after launch of its business. It focused upon the areas of market penetration, market segmentation and marketing growth. It also included finding out market trend and demand of the consumers. I forecast market share and business revenues using assumptions and financial projections. The companys approach was to recognise the importance of consumer service, facilities, ambience, and projection technology and operational benefits. I managed to educate myself practically with the knowledge of applying wide range of marketing models and techniques in business plan. It helped me to formulate strategic aim and objectives of the start up company. The reason of conducting the research was to identify and establish potential market and also to collect valid and reliable data. I understood the importance of critically analysing market information and data related to potential customers before entering the market. I studied to carry out market analysis; learned about market size and forecast; its share, trends and behaviour. I also assessed competitors and their strategies, targeted market segments, analysed our business core competencies and critical success factors; marketing and costing strategies. This business plan also assisted me in projecting financial position and reports along with knowledge of staffing and resourcing for business. Synthesis Despite dividing the tasks according to our strengths, we still faced issues. Although all problems were resolved properly but I would still like to change my future approach a little. I would definitely focus on time management and issues regarding motivation and interest. The areas I need improvements are my skills of critical thinking and analysing and assessing the market. I would also try to encourage positive criticism so that team members could improve their work. Experience gained from this project will definitely help to improve the above mentioned areas in the future. There are some factors that developed my understanding and improved knowledge. I learnt to conduct the research practically which were taught theoretically in workshops and lectures during my study in the university. Meetings provided facilitation in problem solving and strategic planning. These also helped me in decision making and working in a team. Analysis and Evaluation It was expected from a student studying master in business administration to think and analyse critically. The lectures I have taken during my studies and the courses that I have attended provided a great help in applying marketing tools and techniques to my research. These also assisted me applying theories into practical scenario. I gained bot theoretical and practical knowledge. I applied my studied knowledge of the books; journals and coursework make and plan a strategy for the company. Models e.g. Porters generic strategies, McKenzie 7s model, Porters five forces model and Ansoffs growth model, have been applied successfully. The knowledge from the lectures helped me search various data sources. The effective use of theoretical knowledge in practical scenario proved helpful in understanding the business plan. I applied a number of marketing theories to advance my knowledge of the business plan. I steadily built my practical experience upon the theoretical knowledge. Theory taugh t me the ways to carry out research; I practically collected data on filed. Theory taught me various ways of measuring the data; I practically applied some in financial projection; Theory explained how to apply different models; I managed to use these theories according to my situation and constructed a whole report. After successfully completing the project, I learned to better argue, use facts and examples and debate efficiently on management issues. The business plan helped me to be good, confident, cooperative and effective team member. My researching skills increased considerably. Now I can use different research which can help me in future research process. It taught me to create a conclusive argument, present the paper clearer and arguments more apparent. Collecting data, analysing it, writing it in a proper format and presenting it to the board has given me a sense of achievement and pride. In comparison to my own skills before working on this project I did make a lot of progress. I personally feel that business plan is more feasible as it helped me understand not just to applying critical thinking and analysing the information but to use the theory into practice. It helps the students getting management experience and applying what they have learnt in their lectures and workshops.

Alcohol abuse among college students at univeristy of south carolina

Alcohol is a drink made by mixing yeast with sugary substances such as corn, barley and rye. The mixture is then left to ferment for some time. Once consumed it is absorbed into the body systems through the stomach and the small intestines and affects the mind making the person who had consumed it lack proper coordination. It leaves the body by being excretion through the kidney, lungs and the liver.Many college students consume alcohol as a way of forgetting certain situations in their college life that is stressing them, make friends and even maintain them. But in actual sense alcohol only suppresses the problem for a very short duration of time after which the negative effects to the individual manifest themselves such as poor personal health, poor concentration in school and financial constrains.Excessive use of alcohol leads to neglect of major responsibilities such as schooling and this state is termed as alcoholism that has no cure but can only be controlled (Presley, Meilman, & Cashin, 1996).Starters mainly consume alcohol varieties that are less concentration but upon advancing they get to very concentrated brands that eliminate the desire to drink fast.Alcohol Abuse among College StudentsThe African-American students within the campus drink less compared to white counterparts. The students who engage in heavy drinking are usually aged between 18-29 years and drink up to three times in a week with very few going up to five days; this clearlyindicates that alcohol is readily available within the campus and that the alcohol-control policies are somehow lenient.Though this should not generalize that all students drink, a good number of students have never tasted alcohol within the institution.The availability of alcohol within the community surrounding the Campus draws students towards alcohol even if the campus authorities are against it.In order to lower the levels of alcohol abuse among students of drinking age which is set at 21 years by the federal l aws, the university encourages students to drink responsibly and behave in a mature manner (O’Malley & Johnston, 2002).To reduce alcohol abuse the university has ensured that those students selling alcohol within the campus premises have a commercial license that governs their conduct.  The university has ensured that alcohol is sold in designated points such as the students centre and not just anywhere and this helps reduce its accessibility thus reducing its abuse. Any misconduct upon being drunk should be reported to the campus dean within twenty four hours of such offence and appropriate punishment administered according to the law (Presley, Meilman, & Cashin, 1996).

Hard Times is a novel written by Charles dickens Essay

Hard Times is a novel written by Charles dickens at the time of the industrial revolution. It is set in the nineteenth century in England. It is Dickens’ harsh and satirical attack on the industrial and educational systems of his time. Dickens believed in good fellowship and community values, which he felt were being destroyed by this new system based purely on ‘fact’.  In the novel Dickens uses satire, humour, irony and symbolism to convey is vision and show the world what he thinks it should be like.  This novel, set in a place called Coketown, England, is showing how English people live in a very harsh place. The characters in the novel include both good and bad people. Throughout this novel Dickens attacks the industrial and educational systems using satire and humour. He uses such techniques to poke fun out of them. He also uses irony, such as in the name Stephen Blackpool who at the end of the novel dies in a black pool. Dickens uses satire to describe things, for example: ‘red brick buildings, or at least they would have been if it weren’t for the grime.’ Dickens also used characters and their names as a way of attacking the educational and industrial systems. Thomas Gradgrind is a leading businessman in the town of Coketown. He is a good example of how things are run and done in Coketown, all based on facts. He says ‘ now what I want are facts,’ and facts are what Mr. Gradgrind use as a way of destroying other people in the novel such as young Tom, Louisa and Bitzer. Louisa Gradgrind, Thomas Gradgrind’s daughter is a prime example of how the educational system is a complete failure. At the start of the novel she is caught looking at the circus, which shows how she wanted to experience more than ‘the philosophy of facts’ that her father exposed her to. She is seeking love in her life later in the novel as she makes two pleas for help to Stephen Blackpool and to James Harthouse. She gets married to a fellow businessman of her fathers, Mr Bounderby. She doesn’t marry him out of love but for the sake of her brother Tom Gradgrind. Tom Gradgrind is the son of Thomas Gradgrind. Tom is dependent on his sister Louisa a lot as he needs help to fuel his gambling habits. Throughout his life the educational system along with his father dehumanises him. Near the end of the novel the bank is robbed and Louisa fears that Tom had robbed it. She knew he was in debt and believed he did it as he worked there for Mr Bounderby.  Bitzer is a model pupil of this so-called educational system. The system is so dehumanising that he thinks and acts more like a robot than a human. He has no imagination at all and as he gets older he gets more and more selfish. He has no sensitivity and no communal concern for others. He is the complete opposite of Sissy Jupe. Mr James Harthouse is the sneaky seducing snake of the novel, who came to Coketown looking for a part in Gradgrind’s political party. He has an immediate interest in Louisa and uses Tom’s weakness in money to get to her. His name Harthouse is satirical, as he is a heart stealer. He takes advantage of young vulnerable women such as Louisa. Louisa makes the mistake of falling for Harthouse and when she realises what she had done came to her father and collapsed at his feet. This collapse symbolises the collapse of the educational system and shows its failure right in front of MR Gradgrind. Mr Bounderby represents the industrial system in the novel. Throughout the novel he reminds people about his rags to riches story, about how he started out as a ‘nobody’ on the slums of Coketown, to reach his present social and economic status.  Stephen Blackpool, who is the victim of the industrial system, works in the factories of Coketown. He is unhappily married and in love with another woman, called Rachel. His wife represents all the pain and suffering in his life and Rachel represents all the happiness in his life. He falls down a mineshaft or a ‘black pool’ at the end of the novel. He is pulled out alive but then soon dies. His name is ironic, Blackpool, as he dies down a blackpool. Sissy Jupe is the good person in the novel. She cannot be beaten by the system. She had imagination, which only the circus folk else in the novel had. She is the heroine of the novel as she saves Louisa from James Harthouse and Louisa’s young sister from her father and his educational system by educating her. MR Gradgrind at the start of the novel adopted her, as her father, who was in the circus, ran away and left her. Sissy symbolises imagination and humanity. She is the hope for the future. Dickens uses satire and humour in this novel very well. His attack on the educational and industrial system of his day was very good. Our world today is much different than his. There are still people today who would fit the personality of such people like the characters in the novel, however our educational system and industrial systems are probably quite the opposite of Dickens’ days’ system. We are encouraged to use our imagination with such school subjects as english, art, music technology and drama.

Workplace Diversity Of The Workplace - 965 Words

Job’s face many struggles and challenges each and every day. Workplace diversity is something which is being talked about the most here lately. Out breaks of minimum wage, sexualities, gender, and even your skin color affects what diversity a business would want. Within the business, the professional level is set pretty high due to the superior designers making us able to dress well fashioned. When people step into a business they do not want someone that is going to walk in with a t-shirt and gym shorts, they would rather them be in dress pants and a nice dress shirt with fashionable shoe wear. It does not have to be the top notch designer clothing, just something which doesn’t scream â€Å"I just woke up from bed.† The thing which is being most talked about these days is diversity. People who are African American, white, Hispanic, gay, lesbian, bisexual, male, or even female could feel unwanted at a higher end business. The more people are expanding their perso nalities and how much they want to be shown that anyone could do anything just as much as the next man is outrageous. Workplace diversity is becoming more intense as the years continue on and it is important to employers and employees for a number of reasons, a few of them being that it would gain mutual respect with everyone, conflict resolution would not be as much of an issue, and lastly the increased exposure due to all of the workplace diversity. Kitts 2 A diverse workforce can effect a business for theShow MoreRelatedDiversity In The Workplace. . Diversity In The Workplace990 Words   |  4 PagesDiversity in the Workplace Diversity in the workplace is imperative even though some commentators argue that too much diversity can be negative. Diversity can lead to staff feeling ‘threatened or even annoyed by persons with views and backgrounds different from their own’ (Barsoux, Strebel and Manzoni, 2010). Instead of inclusivity, diversity can end up causing conflicts, as some staff are reluctant in changing their viewpoints and are less adaptable to change. The discourse relating to diversityRead MoreWorkplace Diversity And The Workplace853 Words   |  4 PagesWorkplace Diversity Many outstanding articles, books, journals and papers have been written regarding the topic of workforce diversity. Some are relatively short papers such as Diversity in the Workplace published by the University of Florida, and seek to provide the reader with a basic understanding of what is meant by workplace diversity, as well as the potential benefits to both employers and employees alike. Other resources can be significantly more in-depth and explore subtopics of workplaceRead MoreDiversity At Workplace Diversity Within The Workplace3281 Words   |  14 Pages1.0 Diversity at workplace Diversity is a very extensive subject and can be in any genre or class; it is difficult to categorize because of its complex nature. According to Res (2012), diversity can be represented as a variety of human aspects pertaining to different societies and cultures in the workforce or can be explained tolerating the differences. On the contrary, diversity is a quest of differences among human beings in safe, positive and nurturing surroundings and moves beyond simple toleranceRead MoreThe Impact Of Workplace Diversity On The Workplace997 Words   |  4 Pages Workplace diversity is a term which describes the inclusion of people in the workplace regardless of their cultural differences such as gender, race and sexuality. Rather than disregarding them, diverse workplaces utilise these differences to widen the range of experiences and skills among their employees as stated by the Australian Breastfeeding Association (2012). Some professions, however, are more diverse than others. According to the Diversity Inclusion: Unlocking Global Potential - GlobalRead MoreDiversity in the Workplace964 Words   |  4 PagesRunning head: DIVERSITY IN THE WORKPLACE Abstract Select (highlight) this text and then begin typing your abstract, which should be limited to one paragraph of not more than 120 words A Survey of Organizational Culture and its Effectiveness on Managing Diversity in the Workplace Diversity in the workplace is a relatively new concept that has been attracting considerable attention from the executives of most businesses. â€Å"Ongoing demographic trends (increasing percentages of African-AmericansRead MoreWorkplace Diversity Within The Workplace865 Words   |  4 Pagesmarket today is workplace diversity. Workplace diversity is defined as all characteristics and experiences that defined each employee as individuals, but it can also be misunderstood as discrimination against employees. Diversity can include race, ethnicity, sex, religion, disability and sexual orientation discrimination. One reason why workplace diversity is important is because when you respect your employees productivity rate rises and many companies do not know that. A diverse workplace targets toRead MoreThe Diversity At The Workplace747 Words   |  3 PagesThomas (1992) entails the diversity at workplace in terms of all ancestry, ethnicity, age, gender, race, educational background, sexual orientation, marital status, religious belief, income, geographic location and work experience. The mobility in human resource trend is em erging within the competitive market that requires more strategic role on account of human resource management. Organizations may fall in dire consequences of outplaying by other competitors in strategic employment. Nowadays, workforceRead MoreWorkplace Diversity Within The Workplace1322 Words   |  6 Pagespast decade, diversity in the workplace has become one of the most frequently discussed topics in management groups or circles, while interested academically in the actual prospective of workplace diversity has remained limited. To be successful in managing diversity in the workplace first one must understand it from a personal perspective. To be able to derive knowledge and strength from one’s differences shows deep faces in character. A book I read in high school defined diversity as â€Å"the mosaicRead MoreDiversity in the Workplace5680 Words   |  23 PagesSURFACE LEVEL DIVERSITY, DEEP LEVEL DIVERSITY, AND ORGANIZATIONAL COMPETITIVENESS ABSTRACT Surface level diversity is the mixture of people who differentiate by sex, race or ethnicity, and the observably physically disabled. These differences typically cannot be changed and are easy to measure because they are visual. Deep level diversity are differences such as personality and attitudes that can be communicated through verbal and nonverbal behaviors. Diversity can be affiliated with socio-economicRead MoreDiversity in the Workplace1096 Words   |  5 PagesRunning head: DIVERSITY IN THE WORKPLACE Diversity in the Workplace Amber Barger ORG536 – Contemporary Business Writing and Communication Colorado State University –Global Campus Dr. Phillip Jackson November 26, 2013 DIVERSITY IN THE WORKPLACE As companies start to regain their footing after the recent economic downturn, 2 factors such as the rising number of immigrants, mergers of large corporations, the popular use of temporary workers and the increasing globalization of business,