Enterprise Creation: Reflective Journal & Action Plan

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).