Enterprise Creation: Reflective Journal & Action Plan

This reflective journal covers the student's experience and learning in entrepreneurship through various topics such as creativity, innovation, business planning, financing, marketing, legal issues, and pitching.

Enterprise Creation: Reflective Journal & Action Plan (NOTE: Use this format and complete all parts)
WEEK 2 (First Teaching Week)
What happened?
During the week 2 I have learned about model of entrepreneurship and the way it helps in developing innovative ideas for the organization. Along with
this, the model has various steps such as motivation makes a big difference and it is crucial for company to identifying opportunity in order to find
creative idea to deal with it (Marion and Fixson, 2021). While finding the idea it is crucial for firm to overcome obstacles and control the business as
well as to look for customer in order to succeed. While learning about this model I was feeling good as it was adding into my knowledge and it also
important for module because it making it learn about factors of running business.
How did I feel about it?
During the beginning of the session I as feeling good as I have no knowledge about the model and it was interesting for me to learn about way to
generate new ideas and to deal with obstacles. Along with this, I think group has also done good work as it has covered every important point that need
to learn during week.
What did I learn from it?
During the week 2 I have learned about model of entrepreneurship and it has contributed in making me enhance about knowledge. Along with this,
during the week I have developed crucial thinking and creative skill as well as this session will benefit in developing business abilities.

WEEK 3
What happened?
During the session topic related to a creativity and innovation has been defined as well as various stages in the innovation process has been explained
properly. The week has also discussed about the principles of the innovation process to develop an ideal through particle exercise. It was different from
other week as it is main related with innovation process and the way it contributes in model of entrepreneur. In addition to this, the topic was focusing
on innovation and the ways its principle make the entrepreneurship effective for an individual.
How did I feel about it?
During the session I was feeling bit confused as I facing difficulty in learning about the principle of innovation and the way to link it with
entrepreneurship model. Along with this, I was feeling good while learning about creativity and the way it contributes in success of organization. After
completing the session, I am feeling accomplished as now I have idea about the way to use creativity and principle of invocation while developing
products and services. Moreover, this session will be beneficial for me as it will help me learn about the principle of innovation that will contribute in
understanding the process effectively.
What did I learn from it?
During the session I have learned that creativity is described as the production of new and useful ideas in any domain and innovation is successful
implementation of creative ideas within company (Dziallas, M. and Blind, K., 2019). Along with this, innovation is related to product and services as
well as using the resources in effective manner in order to get great result. Moreover, I have gained knowledge that innovation need to be linked with
entrepreneurship in order to get great results.
WEEK 4
What happened?
In week four I have learned about innovation process and It include various steps like Hunch, stronger, observant and etc. Although this cycle is very
much important while developing the product and services as it helps in finding opportunity for the company. Moreover, the session has analysed how to
find hunch and the way to strengthening it as well as motivating customer to purchase product.
How did I feel about it?

During the session I was feeling happy as my concept related to innovation was clear and how to apply that principle in entrepreneur cycle. Along with
this, was feeling bit confused after the completion of session as there were so many minor details regarding the steps of innovation process. This week
will complement the whole session as innovation process is very important part of entrepreneurial cycle.
What did I learn from it?
I have gained knowledge about invocation process and the way it contributes in developing new products and services as well as its positive impact.
Along with this, I have improved my critical thinking skill throughout the session as learning and evaluating each step requires lot of knowledge. This
session will be beneficial for me as it will help me in knowing how to develop products and services according to customer needs and demands as well
as to improve by entrepreneurial skill.
WEEK 5
What happened?
The session of week 5 have covered about business planning and the way it plays important role in entrepreneurship as well as the session has focused
on various stages in the process of business planning and viability of a business (Thayer, Petruzzelli and McClurg, 2018). Along with this, how to
make use of business plan template for developing appropriate strategies for organization. This session was different from others as it was related to
planning and others were focusing on creativity and innovation process that is used to make new products and services. Moreover, it is important as
before launching innovative idea it is crucial for business to set out the activities that will contribute in success of task.
How did I feel about it?
In the beginning of the session I was feeling good as I already had idea about it and the way to implement in achieving task. Along with this, it was not
very confusion for me as the steps were clearly explained in the session and the function of the plan was also described properly. Thus, overall it was
quite easy for me to understand things properly and effectively.
After completion of the session I was feeling satisfactory as topic was clear for me to understand and I can use this in practical while running the
business.
What did I learn from it?
Throughout the session I have learned that business plan is a written document that describes in details how a new venture is going to accomplished the
set objective as well as it will lay out a written plan from a marketing, financial and operational viewpoint. Along with this, while planning it is

important to make use of normal language, professionally presented and based on reality so that path of achieving goals can be easy. The plan should be
in proper structure such as details of company, executive summary, vision and staff management (Fichter and Tiemann, 2020).
WEEK 6
What happened?
In this session, I create the business plan with providing the business planning and various strategy in the process of business planning. It is sued for the
achievements of the business goals and it is the written plan form the financial,marketing and operational viewpoint. I also discuss the potential viability
of a business plan to accomplish the goals of the business. I create the business plan to for accomplish the goals of the business organization. It helps in
discuss the plan of the business. It involves the future for the vision, products and services, management staff, the SWOT analysis and financial
consideration which are considered in the tutor activities (Ostaev, 2019). The previous activities and projects of the building and models are included in
the previous tutor and the business plan is the important for achieve the objectives of the business in the innovation and target the customers to achieve
the goals with the high quality of products and services.
How did I feel about it?
I face some difficulty in the business planning because I am not able to understand that how to plan the business for the innovation so, face the
difficulties in prepare the business plan. I get helps from my one of friends for the business planning and get some relax after some helps of my friends.
It is extremely difficult and I also get help from my seniors to prepare the business plan.
What did I learn from it?
I learn that how to prepare the business plan and I noted my strength and weakness while preparing the business plan. It helps me to develop the critical
thinking which are most important in the business plan as well as helps me to develop the thinking abilities and capabilities.
WEEK 7
What happened?
In this week, tutor has covered the financing a business ventures. The financing and business ventures are involves that cash are comes from when and
where, developing the importance of finance resources in business as well as their tutor are consisted the working experience with the cash flows. the
previous assessment are based on the business planning and financing a business ventures are important for achieve the goals effectively and efficiently
with the financial support (Hor and Chang, 2021).

How did I feel about it?
I felt that I am weak in the financial creation for the business. I am not able to understand that where the cash are comes and where goes and I felt that I
can get lost in terms of finance so, I take help from my senior in the finance, but I get opportunities to learn something in the finance fields which are
most important in the business to achieve the financial in-dependency and I really happy because I got opportunities to build awareness the importance
of finance resources in business.
What did I learn from it?
I learnt that how to calculate the finance and measure the profit and loss as well as how to raise money for the business with the helps of bank loans and
ventures capital, etc. I got opportunities to learnt something new and it helps me in the future development and career to become success in the financial
fields and departments. I learnt about the different types of business ventures which are use in the business.
WEEK 8
What happened?
In this week, the tutor has covered the clinic enterprise creation and this module covered the innovation in the products and services and create
awareness between the customers and business and understand the needs and wants of the customers in the competitive marketplace with the modern
technology. The previous session discussed the finance the business ventures and it activities in the aspects of developments and skill in the business
with the technology (Anselmo and Mitragotri, 2019). The creation in the clinic are important for the customers and meet the competitive advantages in the
market place.
How did I feel about it?
I felt happy while doing the session because it is essay to understand and estimate that how to create the products and services in the clinic sectors and I
get the opportunities to explore my skills and knowledge in the report as well as modern technologies are used in the clinic enterprise creation and it is
easy to use and explore about that so, I easily understand about the report and apply the various concepts.
What did I learn from it?

I learnt the various skills and develop the many skills which are helps me in the future development. The knowledge and abilities are also improved with
the helps of enterprise creation and decision-making skills are improved with the helps of this. I was weak in the technologies so, it also helps me in
develop skills in the technologies which are most important in the future career and achieve the goals of the business organization effectively and
efficiently.
WEEK 9
What happened?
In this week. This tutor has covered the marketing and sales which are most important for generate the revenue and profit of the business. The activities
of the report is elaborate the concepts of sales and marketing and its importance in the entrepreneur and the steps of the marketing process as well as
discussed the principle of marketings which helps in generate the sales of the business. The previous session is based on the clinic (Johnson and Matthes,
2019). The marketing and sales are important for generate the sales and revenues as well as profitability of the business organization.
How did I feel about it?
I felt good during the assessment because the marketing and sales are helps in generate the profit of the company and it is the consume base session so, I
felt happy, but I am not able to understand and estimate that how many customers are target for the sales and which ways I can use for the marketing the
products and services in the competitive marketplace. I felt that I have weakness in the sales field and receive some helps from my friends who are
expert in the sales departments.
What did I learn from it?
I learnt the various marketing tools that how to promote the products and services in the competitive market because the marketing process are effective
to generate the customer for the business development. I leant about the radio advertising, online advertising, print advertisings, etc. that all are most
important in promote the products in competitive market place. I develop the marketing skills and critical thinking skills as well as leadership skills
which are most important in the business to achieve the goals of the organization.

WEEK 10
The topic of this week is related to the various legal issues in the business in which the tutor has covered the understanding of the legal
issues in the business that affects the business. The lecture also covers the business structure which covers sole trader, partnership, limited
company, social enterprise and cooperative. It also covers the various requirements of the employment law and various other laws that is
mandatory to be followed by the business. The previous lecture covered the concepts related to sales and marketing and the present topic is
related to the legal issues associated with the business. At the end of the session , it will help the student to analyse the legal issues that can
affect the operations of the company (Dziallas and Blind, 2019.).
From the lecture I have understood that there are various issues that arise while operating the business and the business structure. It has also
helped me understand the various requirements of the employment law which is necessary to comply while undertaking the business. With
the help of topics that is covered under this session I have realised that whether the company is public limited, partnership or sole trader it is
necessary to identify the legal issues that can affect the functioning of the organisation if not properly complied with.
I have learned that in order to successfully operate the business it is necessary to comply with the rules and regulation that is applicable in
respect of the company in order to avoid any legal issues which can impact the company.
WEEK 11
The topic of this week is relating to the Pitching in the business and what skills and knowledge is required in order to present the ideas of
the business to the clients and what is included in good itch and bad pitch. The topic that is covered in the previous lecture was related to
the legal issues and appropriate structure of the company whereas in this week it covers the importance of effective and good business
pitch which highlights the skills and ability of the person to present its ideas before the clients.
In the beginning of the session my concepts about the effective business pitch and was also not aware about how to present the pitch by
attending this lecture I have understood the points that is to be considered while presenting my views to the clients. It has helped me to gain
more understanding and skills that is required while presenting the business pitch in front of the clients.

From the lecture I have learned about the presentation of the pitch which helps to attract the clients which includes the way through which
the information is conveyed to the client . On the other hand, I realized that is necessary to communicate with the clients while pitching for
business as it builds confidence and enhance better interaction with them.
WEEK 12
The topic that is discussed by the tutor in this session is how to develop plan for business pitch and in the earlier session the tutor covered
the importance of pitching for business and various skills and knowledge that is required to achieve in order to present the views and ideas
effectively to the client which can benefit the person. In the earlier session importance of communication skills was also discussed which is
considered as important aspect of the topic discussed (Marion and Fixson, 2021).
From the topic discussed at the session I realized that it is very necessary to follow the proper procedure while pitching of the business and
in order to effectively present the pitch person can use various forms like for example with the help of video, music and photos. I also
realize that before giving the pitch , person should have proper arrangement regarding the idea of the business that will be conveyed to the
client.
In the end of the lecture I have learnt about the various skills and knowledge that is required in order to present my business ideas which
helps in receiving possible outcome and also on the other hand with the help of effective communication skills I can easily interact with my
clients which will help to build me confidence that will benefit me in my career.
Comment on the process of reflecting on your experience within the Module
From the above topic that is covered in the Module it has helped me gain knowledge about entrepreneurship , business planning and also
about various legal issues that can arise while undertaking the business activities. On the other hand I came to know about my strength and
weakness and what areas needed improvement which will help me to achieve my future career goals.

Reflections on what skills, knowledge and attributes you demonstrated during this Module. What were the barriers and also the successes of the
challenge? Provide examples to support your answer.
During this module I came to know the areas where is good and also those areas which is required to be improved . I realized that I lack
effective communication skill which is one of the most importance aspect that is required to achieve the career goals. On the other hand I
also realised that is had strong presentation and time management skills that will help me to achieve the given task within the specified time
period.
Reflection on knowledge; skills and abilities – what particular knowledge, skills and attributes did you have and develop both professionally
and personally in the completion of the module?
By the completion of the module my knowledge about the various components that is required to be present and considered in order to
operate the business effectively. I also learnt about the various skills that is necessary to be present in order to achieve the goals in the
future.
Reflect upon and review the benefits you have gained from engaging in the Module.
I have gained much knowledge about the creativity and innovation that is necessary for the business in order to survive in the competitive
market and on the other I have learnt about various legal issues that can be faced by the business in order which can impact the business and
its functioning.
Personal Action Plan (NOTE: Objectives should be linked to areas for development identified in Journal)
Goal Actions Required Res
our
Timescale Evidence

ces
1 Communication skills
2 leadership skills
3 problem solving skills
In order to improve my communication
skills it is important to start interacting
with my friends and family members
and also attend various lectures and
online classes for the same.
It is necessary to maintain discipline as
it is one of the feature of effective
leader and also develop awareness
about the surroundings. It is also
important to take initiative in resolving
the conflicts.
The problem solving skills are most
important in the business to solve the
problem in the business
Boo
ks ,
inter
net
conn
ectio
n
boo
ks ,
advi
sors
,
blog
s
and
web
sites
web
sites
and
boo
ks
1 month
1 month
1 month
IN order to evaluate my
progress, I can ask for
the feedback and
reviews form my friends
and family which will
help in analysing my
progress
In order to identify my
progress, I can review
with my colleagues
about my progress that
helps analysis the
performance.
Review with the
employees about the
problems solving to
analyse the
performance.

References
Fichter, K. and Tiemann, I., 2020. Impacts of promoting sustainable entrepreneurship in generic business plan competitions. Journal of Cleaner
Production. 267.p.122076.
Thayer, A. L., Petruzzelli, A. and McClurg, C. E., 2018. Addressing the paradox of the team innovation process: A review and practical
considerations. American Psychologist. 73(4). p.363.
Dziallas, M. and Blind, K., 2019. Innovation indicators throughout the innovation process: An extensive literature analysis. Technovation. 80.
pp.3-29.
Marion, T. J. and Fixson, S. K., 2021. The transformation of the innovation process: How digital tools are changing work, collaboration, and
organizations in new product development. Journal of Product Innovation Management. 38(1). pp.192-215.
Ostaev, G.Y., and et.al., 2019. Agricultural business planning management: development, motivation, strategy and decision making. Indo American Journal of
Pharmaceutical Sciences, 6(5), pp.10960-10967.
Hor, S.C.T., Chang, A., de Oliveira, R.T. and Davidsson, P., 2021. From the theories of financial resource acquisition to a theory for acquiring financial resources-how
should digital ventures raise equity capital beyond seed funding. Journal of Business Venturing Insights, 16, p.e00278.
Anselmo, A.C. and Mitragotri, S., 2019. Nanoparticles in the clinic: An update. Bioengineering & translational medicine, 4(3), p.e10143.
Johnson, J.S., Matthes, J.M. and Friend, S.B., 2019. Interfacing and customer-facing: Sales and marketing selling centers. Industrial Marketing Management, 77, pp.41-56.
Nicholson, W.C. and Keltner, N.L., 2018. Legal issues. Psychiatric Nursing-eBook, p.20.
van Werven, R., Bouwmeester, O. and Cornelissen, J.P., 2019. Pitching a business idea to investors: How new venture founders use micro-level rhetoric to achieve narrative
plausibility and resonance. International Small Business Journal, 37(3), pp.193-214.