CHECK THESE SAMPLES OF Individual reflective report on business plan Internal and External Environmental Analysis for the Bakery Business Liberalization of foreign investment and technology policy of the government is supportive of establishing industrial units in the country Individual Reflective Report On Business Plan Table of Contents Team Work 3 2. Process of Idea Initiation 4 3. Presentation Experience 5 4. Alternative Scenario 5 5. Other areas 5 References 7 Individual Reflective Report On Business Plan 1. Team Work: The team began with the members introducing themselves to each other and also giving their background life and experiences 12/7/ · Everything I learnt in my financial module it was giving me an opportunity to use that learning in my business plan. I only knew basics about business but after working on this module I feel a lot more confident and feel my learning has enhanced. I believe I have benefited from my learning from previous modules which helped me in working on this assignment. I feel Marketing is my strength but overall I felt I did well on all aspects of my business blogger.comted Reading Time: 9 mins
Business plan- Reflective report Essay Example | Topics and Well Written Essays - words
Business Planning has been a very challenging but fun and learning experience from me. When I was given the assignment I had two business ideas.
One was event management for weddings and the second idea was setting up a cake shop selling designed theme cakes. Both these ideas are something I want to set up in future. I decided to use the Cake Shop idea for my business plan as I thought it would be easier doing this for assignment purposes than doing event management.
I have always individual reflective report on a business plan to set up a cake shop because from personal experience I have seen this is a money making business and my sister and cousin are exceptionally good bakers and I have always asked them to set this as a business and sell cakes for all kinds of events not just birthdays. Plus, I love the creativity side.
Coming up with individual reflective report on a business plan idea was the easiest part but anyone can come up with an idea, how it will all come together and how you move forward with the idea and make a business out of it is the challenging part. I did this by completing my market research as it was very important to understand the market, the trends, what the customer wants, who my competitors are.
I have understood the way you market your product and have learnt about the important process of understanding your target market, and completing your market research and being aware of your competitors. It is easier pointing out the unique selling points but I have learnt how to use the uniqueness to promote my business. I have learnt the importance of setting the pricing strategy right. It felt like I was working on a real business covering every little detail. I enjoyed talking to consumers during my market research getting ideas from them learning about the consumer behaviour what they want.
I found a gap in the market where client did not know who to trust and where to buy cakes from. It is all about having the right product and how you sell the product to the consumers. I used the social media platform for Market research purposes. I believe that customers should buy these cakes because they are fun tasty treats, something that every customer can relate to, share the treats with their family and friends and every customer will feel happy about their purchase.
I have learnt the importance of using the up to date trends to reach out to the public. This helps you create awareness of the product and also is a good source of getting feedback.
I am not a baker but during working on this task, looking for suppliers and looking at what things I would need for my business I have learnt basics about the essentials needed for bakers, individual reflective report on a business plan. I have made a check list of what I need to do for my business, which I found useful and I believe this can be useful to others who are interested in setting up a business. This assignment was using your own initiative. I got many tips from them which I have covered in my previous posts.
I found to be amending my business plan every time I learnt something new, about partnerships, individual reflective report on a business plan, overheads, licenses need and health and safety. I have understood the importance of partnership and how having partnership can help you share tasks. I first made a brainstorm of all things I needed to find out. I thoroughly enjoyed working on this business assignment.
For example meeting Helen Grant Business Officer I came aware of all the things I would need to cover as my business involves food and how getting the food rating scheme would be an incentive for my business and what training qualifications I would need. I got a lot of confidence from feedback I received from speakers I met and my lecturer. I got confidence from the Kirklees Business Conference individual reflective report on a business plan I got the opportunity to speak to different people from different organisations.
I have enjoyed finding the solutions to problems. For example, individual reflective report on a business plan, I got some great feedback from Pat, Mindir, Helen from the Wakefield Council and they encouraged and boosted my confidence, individual reflective report on a business plan. I believe working on a business plan requires a lot of patience and the only way you get information is through research, individual reflective report on a business plan.
I read journals, business newspapers, and also searched online about entrepreneurs. I watched the Apprentice and learnt importance of good negotiation skills, importance of teamwork, customer service and coming up with the right product, understanding what the customer wants, getting the right price and being at the right place at the right time.
I watched the Dragons Den and saw what people were missing out on and what they were good at and picked up on ideas of how to present a good pitch. I watched the Great British Bake off to understand what kind of things people are interested in, what the trends are and read articles about how this programme changed Britain and people left their jobs to start baking. Reading more articles and watching all these shows inspired and encouraged me as I thought of all ways I could do the tasks better to improve the product or service.
I loved making the important decisions for my Business Plan. However, I did discuss my ideas with my sister. For example I discussed pricing, product range with my Sister. She gave me feedback and together we agreed on pricing and product range. From the beginning I was aware that it would have been very difficult to set up a cake shop in Trinity Walk and would be very costly but this did not discourage me in any way. To keep my overheads low I decided to set up a pop up stall instead.
I thought I could move on to setting up a pop up shop later once the business is well established. The pop up stall can help me promote my business. I made a lot of notes as I felt it was very important to make notes, individual reflective report on a business plan. This assignment had such an effect on me that every time I would go out shopping I would be thinking about a business and think how I could sell this product or improve a current service and was constantly looking for gaps in the market.
For example I thought of setting up an eyebrow individual reflective report on a business plan, and also thought I could set up a chocolate fountain selling chocolate strawberries with marshmallows and other sweets and fruit. I helped my class mates by giving them some ideas on their business plans, like printing canvasses or printing T shirts with quotes, and pizza on the go subway style. I identified the barriers I would face at the beginning due to cup cakes being more popular but on the other hand I had ways on which I could overcome these barriers through introductory offers or special offers and limited editions.
I know this would affect profit but that would be for a short term period. I thought customers could taste small samples of the product too and get them interested like this. I know cupcakes may sell quicker but designed theme cakes and cake pops are also a current trend in the market.
I wanted to sell cake pops to other businesses to help promote their businesses and selling them along designed theme cakes was the perfect opportunity to create awareness. I learnt the importance of building links and having a good communication strategy. I worked on my communication strategy how I would get in touch with the public and promote my business, finding right suppliers and people who I could learn from. I identified all the places I could visit to promote my business such as the NEC cake shows and soft play centres.
The more I explored in every sector I identified opportunities to save money or to do something better and I made use of these opportunities through planning.
As I am studying Financial Accounting that module also helped with my Business plan especially in completing my financial statements. For example, Profit and Loss, individual reflective report on a business plan, Break even and my cash flow projection. Everything I learnt in my financial module it was giving me an opportunity to use that learning in my business plan.
I only knew basics about business but after working on this module I feel a lot more confident and feel my learning has enhanced. I believe I have benefited from my learning from previous modules which helped me in working on this assignment. I feel Marketing is my strength but overall I felt I did well on all aspects of my business plan. I do feel that this learning experience will come very useful to me in the future as I do want to set up a cake shop in future. I can use this experience and business plan when I come to setting up any business.
All my learning from this module will help me excel in my career and further studies. You are commenting using your WordPress. com account. You are commenting using your Google account. You are commenting using your Twitter account. You are commenting using your Facebook account.
Notify me of new comments via email. Notify me of new posts via email. Share this: Twitter Facebook. Like this: Like Loading Leave a Reply Cancel reply Enter your comment here Fill in your details below or click an icon to log in:. Email required Address never made public.
Name required. Add your thoughts here optional Post to Cancel. Email Required Name Required Website. By continuing to use this website, you agree to their use. To find out more, including how to control cookies, see here: Cookie Policy.
Reflective writing
, time: 6:28Reflection on Business Plan | Amina
5/9/ · Sample Reflective Paper. The goal of the project was to develop a business plan and a business plan is basically a formal statement which is formulated to achieve the desired goals of business. Usually a business plan is develop when an entrepreneurial project is initiated and in order to find its feasibility a comprehensive plan is developed (Sutton, ) Individual Reflective Report On Business Plan Table of Contents Team Work 3 2. Process of Idea Initiation 4 3. Presentation Experience 5 4. Alternative Scenario 5 5. Other areas 5 References 7 Individual Reflective Report On Business Plan 1. Team Work: The team began with the members introducing themselves to each other and also giving their background life and experiences CHECK THESE SAMPLES OF Individual reflective report on business plan Internal and External Environmental Analysis for the Bakery Business Liberalization of foreign investment and technology policy of the government is supportive of establishing industrial units in the country
No comments:
Post a Comment