Team Formation and Discussion
I have prepared this report as a reflective essay on my group’s business plan. I have focussed on presenting how the team related while undertaking this project with a specific address of my experience during the entire period. As part of the assignment, the tutor asked each member of the team to prepare a reflective paper on their role as a researcher, critical thinker, presenter, reporter, and analyser of the whole experience.
I was part of a team of (INSERT THE NUMBER) members who undertook a business plan for elderly day care. In a team of five, we focussed on developing a business plan on launching an elderly day care business in (INSERT NAME OF THE LOCATION). Other team members were (INSERT THEIR NAMES). Although I had wished to form a team with my close friends, the tutor took upon himself to allocate members randomly. At first, I objected the tutor’s decision but felt in love with the group as time passed by. Luckily enough, one of the members was my close friend, while another one was part of my previous study group (Ekanem, 2017, p. 32). The opposition that I held initially about the group slowly faded away. However, our good working environment and cooperation did not come without challenges and disagreement considering that we were from different societies and backgrounds. Considering the enthusiastic and friendly nature of the team, we managed to solve all the problems amicably. As a student of business management, I understood that we were more capable to succeed as a team compared to working as an individual (Williams, et al., 2012, p. 35).
We called for a meeting three days after teams had been assigned. I took upon myself to be a team leader during the first meeting. Members discussed the task at hand where members shared different ideas as well as possible problems and challenges we were likely to encounter. We also used the meeting to know each other as well as discussing the best approach to use in tackling the assignment (Bolton, 2010, p. 67). Personally, I believe that it’s easier to work in a friendly and casually environment which other members opposed; other members were more reserved and wanted a strictly professional relationship. In the end, I succeeded in convincing in adopting my approach. After resolving, all the arising issues, members were given an opportunity to present their plan and thoughts about the assignment (Bolton, 2010, p. 71).
Business Plan Development
After an extensive discussion, constructive arguments and careful planning, we agreed on developing a business plan for elderly day care. Our decision was based on the increasing demand for daycare centres in the UK. We noticed that our neighbourhood hardly had a modern adult day-care centre despite the increasing demand (Consumer Dummies, 2015, p. 88). This business is also a lucrative in nature with maximum profit. However, the vital fact should not be ignored that there is lots of work pressure and the people should be adequately satisfied. Setting up or establishing the daycare centre can lead to deal with adults that may be very old and unfit. Therefore, it is important to hire competent and skilled people. Adequate care should be provided by the skilled nurses and employees (Kalman, 2008, p. 71). The employees should be highly experienced to provide quality services to the people. The return on investment is huge enough is if the customers are provided maximum satisfaction, the people will willingly come back to the daycare centre. We agreed that we were capable to operate and effectively manage a daycare for the elderly (Lyons, 2010, p. 51).
After agreeing on the topic followed the assignment of tasks based on each member’s strengths and capabilities. We all agreed that to foster positive energy and effective work environment, the team set up ethical standards and behaviours. All members of my team were equally motivated and committed to their roles (Ekanem, 2017, p. 89). Considering that I have a strong capabilities in marketing, I was assigned to collect, analyse, and evaluate the marketing aspects for the proposed business. Despite our individual roles, we encouraged each other to keep in contact and work closely. Likewise, members were encouraged to seek for assistance from each other when faced with problems such as lack of experience on research process. Members agreed that all the arising issues concerning the business plan would be resolved jointly to promote consistency in our presentation (Jasper, 2007, p. 61).
All through the assignment, I have learned that teams can be successful when members have common goals and synergy. Teamwork was a necessity for the team’s tasks, priorities, objectives, and goals which were larger than those of individual members. Each member of the team was important because they brought unique experience, skills, and knowledge (White, 2005, p. 75). Likewise, each members brought determination, passion and drive to the group. From my experience as a team member, I have learned that working as a team provides an opportunity of learning new things and relate well with each other. Therefore, working together increased an opportunity for success and greater results. Members tackled issues together with confidence because we understood the importance of collective strength in addressing the arising problems (Jasper, 2007, p. 78).
Assigning Roles and Ethical Standards
My experience, understanding, and knowledge
I did not understand the relevance of team theory before working as a team. Today, I can confidently say that there exist a correlation between business plan assignment and the team theory. The management unit I undertook preciously came handy; I managed to easily relate with each other (Bryman & Bell, 2007, p. 112). Previously, I had never took teamwork seriously but through my experience, I have obtained knowledge on the importance of teamwork. Towards the end of the project, coordination between members increased. Coordination and teamwork helped us improve our communication skills which was evident during our presentation. I understood that each one of us would comfortably accomplish their part of the assignment, in line with the common goal, without having a distinct leader (Bolton, 2010, p. 90).
Although each member had a distinctive role to play, I kept in touch and consulted with the entire team when the need arose. Constant consultation helped me in understanding their approach which have really helped me in writing this report. Without working on the business plan I would not have learned about making an official reflective report. I have also learned on conducting research and practically applying different theories in the business plan (Saunders, et al., 2009, p. 115).
As part of my marketing assignment, I researched a lot on marketing penetration strategies which were most appropriate to the business. I was to come up with the target market and how marketing theories and models would be used to explore the market feasibility. This role has helped in sharpening my knowledge on marketing strategies. I have learned the importance of analysing the potential market, the targeted consumers, and the competitors before making and entrant into the market (Kotler & Armstrong, 2009, p. 73). The study have also helped me on the importance of conducting a feasibility study on the market, to understand the consumers’ behaviour the trend, the market share, the competitive level and strategies used by the competitors. These knowledge enabled me to formulate critical success factors, core competencies, costing and marketing strategies for the business. Although I did not play any role in the financial and staffing aspect of the business plan, I advanced my knowledge on resources allocation and financial reporting (Kotler & Armstrong, 2009, p. 91).
Although all of us collectively planned the task together and assigned tasks based on each member’s strength, we encountered several problems. Given another chance, I would change my approach of the assignment. First, I would concentrate more on motivation and time management issues. Likewise, I would improve my market assessment and analytical skills. Although the assignment helped in perfecting our presentation skills, there is still room for improvement (Bolton, 2010, p. 109). During the presentation, I realised some weaknesses from each member. Our presentation skills needed improvement. Team members just read their respective parts during the presentation which was quite boring. The tutor later stated that we failed to attain the maximum grade because of our presentation. Through my experience during the business plan, will help me in improving on the above-mentioned challenges in the future (White, 2005, p. 121).
There are several factors and aspects that assisted me executing my marketing role. First, lectures and workshops sharpened my approach of the assignment. My past experience enabled me to choose the most appropriate research method for the plan. Second, the meeting held by the team helped me in strategic planning, decision making and problem-solving.
Having completed the business plan, I have learned about to argue better during a discussion using examples and facts. The project taught us about the importance of teamwork, cooperation, and assistance. My researching skills have improved tremendously as well. Even though skills are not perfect still but compared to the skills I had before undertaking the project, I have progressed well. The business plan have taught me on the importance of applying critical thinking, analytical skills and the application of theories I real life. The whole experience have allowed me to put what I have been learning through workshops and lectures into practice.
References list
Bolton, G., 2010. Reflective Practice: Writing and Professional Development. Hoboken, NY: SAGE Publications Ltd.
Bolton, G., 2010. Reflective Practice: Writing and Professional Development. London: Sage.
Bryman, A. & Bell, E., 2007. Business Research Methods. Chicago: Oxford University Press.
Consumer Dummies, 2015. Starting a Business All-In-One For Dummies. New York: For Dummies.
Ekanem, I., 2017. Writing a Business Plan: A Practical Guide. London,UK: Taylor & Francis.
Jasper, M., 2007. Professional development, reflection and decision-making. New York: Wiley-Blackwell.
Kalman, C. S., 2008. Writing to Learn: Reflective Writing. Dordrecht: Springer.
Kotler, P. & Armstrong, G. M., 2009. Principles of Marketing. New Jersey: Prentice Hall.
Lyons, N., 2010. Handbook of Reflection and Reflective Inquiry: Mapping a Way of Knowing for Professional Reflective Inquiry. London: Springer Science & Business Media.
Prayson, R. A., 2014. Perspectives on Learning and Business Plans—More in Common Than Meets the Eye. Journal of Graduate Medical Education, p. 6(1): 15–17.
Saunders, M. N., Thornhill , A. & Lewis , P., 2009. Research Methods for Business Students. New York: Pearson.
White, L., 2005. Writes of Passage: Writing an Empirical Journal Article. Journal of Marriage and Family.
Williams, K., Woolliams, M. & Spiro, J., 2012. Lynn White. New York: Palgrave Macmillan.
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