Enterprise Venture Development

Running head: ENTERPRISE VENTURE DEVELOPMENT
Enterprise Venture Development
Name of the Student:
Name of the University:
Author Note

1ENTERPRISE VENTURE DEVELOPMENT
In this essay I would my present my experiences during working in a group project. We
did the project to present a consultancy plan for the development of Preston market in Lancaster.
We were six members in the team which comprises Anil, Karthik, Vijay, Subbu, Naveen and me.
During the group work, we met the needs of the client, Designed the process of implementing the
project and we delivered the project to the client. Our aim the consultancy plan on the
development of the venture was to gain knowledge about the environmental condition of the
Preston market. We used this for developing a further plan to improve the market for both B2B
and B2C business. We developed a strategic plan which was based on the findings from the
research from both primary as well as secondary data on the competitive and environmental
situation of the Preston Market. The process of building teams gave me a lot of experiences
during the project. I in this essay, I describe my experience of the whole process using the
Kolbe’s reflective cycle.
According to me, team building was the most importance thing in the group project as
our group is responsible for all the positive and negative incidents and also for the whole project.
Usually group development follows four stages, which are forming, norming, performing and
adjourning. Our group was also developed in the same manner. On the first day of our group
project, we initiated the process of forming. In this stage, we got to know each other and together
an oath was taken to achieve success in the work. We faced a problem in the storming stage
when Karthik and I got into a conflict. However, the conflict between us was soon resolved and
the problem was sorted out. According to Lunenburg and Lunenburg (2015), in the second stage
of group building which is the norming stage, the members must know the strengths of each
member of the group. In this stage, we tried to know each other better and that helped us to
perform effectively and efficiently. Thus, a good level of cooperation was developed between us.