Reflection Report: Business Development Plan - MyNewsin Malaysia

This reflection report details a student's comprehensive analysis of a business development plan, focusing on the case study of MyNewsin Malaysia. The report explores various aspects of the research project, including research methods, literature reviews, and the processes involved. It delves into the student's acquired knowledge, highlighting key learnings in areas like business performance, the Malaysian retail industry, and the importance of critical thinking. The report also examines barriers encountered during the research, professional development achieved, and the objectives, findings, and outcomes of the project. Ultimately, the reflection aims to document the lessons learned and their impact on personal and professional growth, emphasizing the practical application of these insights for future career endeavors. The report also highlights the significance of business strategy, operational, marketing strategy, and environmental analysis. The student emphasizes the importance of research and writing research reports.

Running Head: REFLECTION
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Reflective Report
(Student Details: )
12/26/2019

Reflection
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Contents
Research Reflection Report........................................................................................................2
Introduction................................................................................................................................2
Reflection...................................................................................................................................2
Research methods and processes...........................................................................................2
Literature and sources............................................................................................................3
My Knowledge.......................................................................................................................3
My Learning...........................................................................................................................4
Critical Thinking and my ideas..............................................................................................4
Barriers met............................................................................................................................5
Professional development......................................................................................................5
Objectives...............................................................................................................................6
Findings and outcomes...........................................................................................................6
Conclusion..................................................................................................................................6

Reflection
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Research Reflection Report
Introduction
The research report is based on writing reflection on a business development plan which was
developed to enhance business performance. I am going to integrate learning and lessons
acquired from the case study of MyNewsin Malaysia. In this context, my reflection will be
focused on various areas of a research project such as research methods, literature, research
processes, sources for literature survey, knowledge, learning, critical thinking and ideas,
barriers faced and addressed, professional development, research objectives, research
outcomes and findings. Based on such reflection, I will be able to use acquired learning in the
near future for career and personal development. While doing so, I will narrate my
experiences related to major projects done in the near past. Apart from this, this paper is
going to demonstrate the role and importance of reflective practice in the context of personal
development for a future career. Subsequently, after reflecting on such areas of a major
project, I will summarize the key learning and lessons in the form of a conclusion in the later
section of the reflection report.
Reflection
Research methods and processes
In this section, I am going to reflect upon the research methodologies used in the major
project. Here, there is a key difference between a future employer and a reader of the major
project done in the past. While learning about research methods, I learned about research
design including ethical issues, data collection methods, data analysis methods, and the used
research methodology. Based on this research, I have learned that research methodology
often indicates the procedure of executing the research while considering things like research
strategies, tools, and perception of situation handling. I have realized that the selection of
suitable research tools is important to identify the research methodology analysis. This
research made me learn about research approach, research philosophy, research strategy,
research design, data collection, sampling and data analysis which form the core of research
methods and processes for any research project. In this context, I also identified the key types
of research designs including descriptive design, explanatory design and exploratory design.

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In the context of the completed major project on a business plan, the research design was
mainly focused on secondary data collection in order to explore the present market situation
for developing and describing a great business plan. In this way, I have realized that data
collection is an essential part of research methods which assists the researchers while finding
the key elements for the data analysis as well as finding implications. Apart from this, ethical
issues have also been explored by me as ethical consideration of any research always holds
the reliability, moral aspect, authenticity and accountability of the research. Thus, I found the
significance of the data analysis and research methodology in order to achieve research
outcomes.
Literature and sources
In this section, I am going to reflect upon the literature review as well as sources in the
context of a business development plan. I have studied and explored some important theories
for reviewing the relevant literature for justifying my research and major project idea. While
preparing the business development plan, I realized that business review needed to explore
some key sources which are fundamental to our work. Moreover, literature review in the
context of business made me access business environment, marketing, operations, business
strategies and many more. I learned that literature review about business development often
implied the methods of analysing the already existing process of business so that the external
environs, as well as future scopes, can be analysed effectively.
According to me, business review always contains internal strengths and weaknesses with
threat and external opportunities. I have realized that key components that must be included
in a business review like MyNewsin Malaysia are operation management, business strategy,
business environmental analysis and marketing strategies’. I have found literature review as
the major way to help any business for evaluating the present situation while evolving future
business strategy which can further improve the revenue, profitability, consumer acquisition
and market share. There are some reasons, why reliable and credible sources seemed
important and fundamental to my major project work. I found that credible sources and
academic sources are very important for writing an illustrated literature review for any
research project. It is because; these sources provide useful and necessary information that
can help in finding research objectives and aims to be accomplished.

Reflection
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My Knowledge
In this context, I would like to mention that I have gained some important knowledge areas
through undertaking my research as well as the major project. To me, the knowledge gained
from the major research project is very important for future career development. As I have
worked on a case study of MyNewsin Malaysia hence I have perceived the knowledge related
to business performance. I have acquired knowledge regarding Malaysia’s retail industry
which is booming quickly within a modern digitalized environment. My knowledge has been
got upgraded with the help of MyNews.com which is a national retail organization that has
distributed convenience markets, stores and outlets all across Malaysia. I have realized that
acquiring knowledge regarding the Malaysian business environment, will allow me to
establish my business skills within potential global businesses. In addition to that, I have
gained knowledge related to business opportunities and thereby could find the purpose,
rationale, research objectives, research questions and research framework in relation to my
major project.
My Learning
I have gained both knowledge and lessons regarding business development plans with the
help of completing the research project on the business plan. In this context, I have upgraded
my learning skills while doing a major project in the Malaysian industry. Most importantly, I
have learned a lot about research skills in the form of literature review, research
methodology, research aims and objectives, business review, data analysis, and
recommendations. I have learned about risk mitigation as well as risk contingency plans with
the help of a risk identification matrix. As per my evolved opinion, critical success factors
play a key role in being successful in any business worldwide. I learned about customer
traffic which is a key critical success factor. In the context of MyNews.com, sales margin
development for generating further revenue is a great success factor. Apart from this, learning
related to the credibility of the sources occurred as they play an important role in reviewing
the relevant literature in any major research project.
Critical Thinking and my ideas
Based on learning acquired from this research project, I can now express changes in my
critical thinking and thereby ideas. While completing the project, I have realized that critical
thinking is needed for critical problem-solving. In addition to that, I have learned how to
apply ideas and implement them in reality. While carrying out the research, I have analysed,

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evaluated and identified as well as proposed conclusions with the help of my critical thinking
and creative ideas. In this context, I have felt that critical thinking is the key to success in any
career. I have learned that critical thinking can always assist one in any profession so as to
analyse info, systematically resolve issues, produce innovative solutions, think creatively,
plan strategically and thereby present my own ideas to others. With the help of knowledge
and learning gained from this project, I will be able to implement my own ideas in a way that
critical thinking can be readily understood. In addition, I have realized the importance of
critical thinking as by enhancing the quality of my decisions and thoughts, as well as
improved critical thinking skills, one can easily bring a huge positive change in my life. To
me, critical thinking is an intellectually disciplined procedure of skilfully and actively
applying, conceptualizing, applying, evaluating and synthesizing info collected from and
produced by communication, reasoning, experience, reflection, and observation. I also
learned that critical thinking is highly reasonable reflective thinking which is often
emphasized on deciding what to believe and what to do.
Barriers met
In this section, I am going to talk about the barriers I met while doing a research project on
the business plan of Malaysia. There were some major difficulties as well as barriers that
were faced by me. These barriers were related to undertaking research and thereby
accomplishing the major project. While undertaking my research related to the Malaysian
market, I have faced challenges related to research design and methods. In addition to that,
some issues related to communication occur which were hurdles for me. Apart from this,
completing the major research project, I have faced challenges related to identifying research
objectives. It is because I have heard from my tutor that when the research aim is clear then
finding suitable research objectives plays a crucial role in accomplishing research outcomes
effectively.
Professional development
Now, professional development is all about what is the most important management and
business skill or academic ideas or lessons that have been learned by me. I have nurtured my
professional and academic skills with the help of completing the study of MyNewsin
Malaysia. I have realized that the business development plan is a way to improve overall
business performance with the help of analysing MyNewsin Malaysia. I will be able to
transform professionally after completing this business plan project. With exploring the

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industry and company background, I could realize the importance of research and writing
research reports. This major project completion made me learn about key professional skills
such as better communication, interaction, positive leadership, conflict management and time
management skills so as to develop my own personality in a professional manner.
Objectives
In addition, while doing this MBA program, I have learned how to set objectives. The
research as well as work for the research done by me within the major project in the MBA
program, made me learn about the importance of clear and well-structured research
objectives. Writing about the research objectives made me learn how far the objectives of my
major research project been achieved. For example, one of the research objectives of my
research in the MBA program made me learn about conducting internal as well as external
environment analysis for the chosen company MyNews.com within Malaysia. Another
objective was about developing the implementation plan with risk assessment and timeline.
While developing such an implementation plan, it gave me life-long learning in relation to
risk assessment as well as timeline assessment. In this way, the four research objectives of the
business research contributed towards future career development.
Findings and outcomes
While talking about research outcomes and findings, it is worth knowing that this is the best
part of any research project. I also realized how useful as well as feasible the findings,
outcomes, recommendations, and conclusions of my major research project. From the future
employer perspective, I have researched well while acquiring desired findings and outcomes.
Moreover, I have also felt that future recommendations are useful for future employers’
experiences. For example, findings related to functional plans 1, 2, 3, 4, are suggesting that
textile, as well as garment products, will be a part of a functional plan.
Conclusion
In whole, with the help of this research report, I have successfully reflected upon research
related to the business development plan in the region of Malaysia. I have reflected and
integrated the learning related to different research aspects while conducting data analysis of
MyNews, Malaysia. The major project of business development research made me learn
about different analyses such as business strategy, operational, marketing strategy and most
importantly business environmental analysis. In a nutshell, the research reflection report

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successfully helped me in documenting the lessons and learning related to personal and
professional development. Based on research and reflection done in both of the previous
assignments, I will improve my future action plans for the betterment of my future career
endeavours. Thus, this task of writing a reflection report made me realize the importance of
learning through practice.