No AI Generated Content
Reflection on Business Plan Development for Wireless Charging Keyboard Project
Get free samples written by our Top-Notch subject experts for taking online assignment help services
ASSESSMENT 2: The Individual Reflection
Main topic on which study conducted was on wireless charging keyboard. In order to carry out a project, it requires to have certain set of skills and understanding so that step by step process can be carried out and goals set are achieved (Kusumaningrum and Hidayat, 2016). There are many learning that I was able to develop and coordination with each of the team member is also important that I get to develop. With the help of business plan, I am able to develop on personal and group basis. One need to be active in understanding the type of roles and responsibilities as in a groups people wait for someone to take initiative. In our case, we were facing problem to decide on where to start. However, with time and the reviewing samples were able to determine the steps that have to be taken and the strategies that can be applied to complete the task.
There are different types of skills and capabilities that a person possesses. As per my skills, I am able to make decisions and handle any type of problems. Further, there are certain skilled that I lack but I was able to develop them during the activities of completing the tasks. I got to realise that I lack effective communication (Ward, 2016). In order to work in a group, it requires to have proper steps to be considered so that all are able to work and know each other. When a work is performed by a single person, then total time that will be consumed is more as compared with same task performed by a team. In this context, it requires to have effective coordination among all the members involved in the team. There are in total 6 members in the team and for all the members, roles were divided so that we are able to complete the tasks within speculated time period.
Get free samples written by our Top-Notch subject experts for taking assignment help services.
All the members in the team decided that each one will gather information and develop their understanding towards the topic. This was helpful for me to develop through learning towards various type of technological advancement that has taken place in recent times. There are websites that provide adequate information regarding the topic (Wheadon and Duval-Couetil, 2014). However, it also increases that confusion when there are many different definitions given on different websites. In order to overcome these type of problem, it requires to understand the reliability of source. In respect with the technology, there are frequent changes that take place and it is important to understand that updated information needs to be considered and data from sources that are old cannot be relied on. Data gathered from all the members were analysed by me and the most suitable topic was selected for business plan. There is different topic that has to be covered so that effective presentation about the topic can be developed. It is important to consider that all the viewers are provided with information that will make them understand about the topic.
On personal level, I was able to develop my communication skill. Work in group, I found out that I was not able to express myself to other. The idea that I was developing was effective but I was not able to present myself to team members. In order to overcome this issue, I started interacting with each member personally so that I am able to know them. This way, the confidence level boosted up to interact with each member. Further, I identified that gathering information was just not enough but it requires to have presentation skills so that all the information gathered can be presented in an effective manner. In the team, one of the member possess skills for presentation, he was helpful to make me understand that strategies that are applied so that data can be presented. In accordance with one of the strategies given, the data should be shown step by step in which the viewers are able to understand the topic and then slowly other areas are covered. In other words, general information need to be given and then data specific about the topic should be covered (Ibrahim, Baharuddin and Rosle, 2017). Further, the presentation should have image as it enables to make others understand visually about the topic. When there are lot of written data presented on slides, then not one is interest to read them but only few of the viewers will prefer to read them. However, by making use of images, it enables people to understand the topic in an effective manner.
In order to work in a team, I have identified that proper communication or interaction is important. Further, it also requires a person to take the lead so that he/she controls each one and provide them the responsibilities that should be played by them. There are conditions in which similar types of activities were performed two of the members. These types of situations arise due to lack of proper communication. In order to overcome this problem, activities were planned so that each of the members is able to know each other. I also identified that I lack proper time management. All the activities were to be completed within the time period and this was important so that complete task can be met within the total time left. In this context, the activities that were to be completed me should were not completed within the time period. One of the main issue that is faced was related with prioritising (Vitale, 2014). There are different other works that had to be completed and it was getting difficult for me to complete them. With this respect, I made time table so that I am able to focus on all the activities. This way, I was able to develop my time management skills.
There are many firms that deliver their customers with similar type of products and services. People prefer to make use of the goods that are able to fulfil their requirements. Further, when the products are unique, then it enables to develop positive perception within the mind of customers. Apart from this, there are many marketing strategies applied so that people get to know about the products and services that are delivered by them. Strategies related with marketing can be made effective when focus is made on setting out groups to whom the product is to be focused on (Vitale, 2014). With the help of segmentation, the type of marketing that has to be made is identified. Further, there are different types of perception that is carried out by people there will be people who prefer to get products that are delivered to them at low price or there are individuals who prefer quality to be focused. When segmentations are done, then strategies are developed with the help of which information can be provided and sales can be raised. At the initial stage, I was not aware of the ways through which strategies that has to be made are with the help of segmentation. In order to develop a business plan, it is important to set out activities that will be suitable for attaining the goals that have to be attained. in this context, proper division of work was done, in which all the member involved were had to focus on understanding the requirements. To complete the activities, it requires to have proper support from the side of members that make the task to get complete.
Further, to carry out the plan, it is important that there are effective planning made for finance. When the support of finance is not favourable, then it affects the business to make people to know about the same. Finance is required in all the activities and for each part of the business plan (Ibrahim, Baharuddin and Rosle, 2017). Moreover, there are various types of channels that are available with the help of which products reach the customers. In this process, there are also intermediaries who are involved in between. When the people in between increase, then the process to make the products reach customers gets reduced. I have got to understand that just with making the products available is not enough. It requires to have appropriate plan to be made so that information regarding the products can be provided. In this context, it includes development of customer's relationship in which information is to be provided. I have identified that with time organisations are able to reach out customers and with advancement in technology, the reach to services users have become easy. There are many social sites that are available through which information can be conveyed to service users. For example, Facebook provides the opportunity to share post and when people view it, then they can also provide their feedback. In accordance with the comment that is provided by them help to know perception that are carried out towards the product.
By getting experience, in these areas I have got to understand the main focus need to be made at the initial stage in which the products or services are decided. It is important to carry out appropriate research so that opportunities that prevail in the market can be identified and then steps are to be developed so that business plan is formed (Wheadon and Duval-Couetil, 2014). There are certain set of areas that have to be considered and these are marketing, finance, human resource, etc. When proper consideration is made for these aspects, then it requires to set out targets in which objectives should be developed so that they are able to attain them. For each of the plan, it requires to all the members to have proper understanding of all the activities so that it can be performed by them.
When the financial planning that is made by them is not done properly, then it affects the business plan (Ward, 2016). Complete plan is dependent of covering all the activities that are involved. Further, proper monitoring should be done so that the issues that are from the side of other members are identified. At the initial stage, it requires to understand the interest of areas that each of the member has and then division of work should be done. This way, it is favourable enough for the overcome the issues that are faced by each one. The taste and pReferences of people changes on frequent basis and it is important that research and survey are carried out so those requirements of service users are identified. I have identified that management of risk is another essential aspect that has to be considered. There are different types of risk that can be faced in development of project. For example, if the finance that was set exceeds, then it affects the operation in negative manner (Kusumaningrum and Hidayat, 2016). It is important to have fixed set of amount determined by the plan and when these are not completed, then it affects business plan. Further, I have also identified that risk of time is another issue that can cause serious problem. For example, when at the initial stage when activities are not complete within the speculated time, then following activities will also get delayed. In such situations, it is essential to make sure that all the risk or barriers that can arise should be identified and appropriate strategies should be developed that will enable to overcome them.
Lastly, it can be concluded that I was able to develop my communication, time management, problem solving, decision making, etc. in addition to this, it is essential that proper consideration is made in which presented of the idea need to be made in effective manner. When an idea is developed, then the person should have the skills to present it and to make all other understand regarding the same. Further, conflicts situations are raised when the rate of interaction that take place among each of the people involved are not effective. Proper monitoring should be done so that problems that can arise are eliminated. Assignment Help provided by New Assignment Help
REFERENCES
Kusumaningrum, I. and Hidayat, H., 2016. Learning Outcomes in Vocational Education: A Business Plan Development by Production-Based Learning Model Approach. International Journal of Environmental and Science Education, 11(18), pp.11917-11930.
Ward, J., 2016. Keeping the family business healthy: How to plan for continuing growth, profitability, and family leadership. Springer.
Wheadon, J. D. and Duval-Couetil, N., 2014. Business plan development activities as a pedagogical tool in entrepreneurship education. The Journal of Engineering Entrepreneurship, 5(1), pp.31-48.
Ibrahim, S. S., Baharuddin, F. N. and Rosle, A. N., 2017. Modelling Effective Business Plan in Entrepreneurship Education: A Solution Toward Better Learning. Advanced Science Letters, 23(11), pp.10786-10789.
Vitale, A., 2014. Initiating a Reiki or CAM Program in a Healthcare Organization-Developing a Business Plan. Holistic nursing practice, 28(6), pp.376-380.
