Final Project

Research Reflection Report
. Marks
Availab
le
Research Methods &
Processes
How and why have you
chosen/decided on the
research methods and
processes which you are
using/have used for the
development of your
Major Project?
How would you describe
these to:
1. a reader of your
Major Project and/or
2. a future employer
(max. 550 words)
In today's world, people are more concerned about the
quality of products they consume. They believe in proper
evaluation and researches before utilizing any product. People
conducts researches in order to estimate the benefits of that
product. For conducting research I have evaluated the people of
Malta. After this research they are now aware about cosmetic
products and their benefits. Because of the usage of cosmetic
beauty products most people have faced skin related issues and
problems. This issue gave opportunity to Indiherbs to develop
herbal beauty products. The company is benefited by doing so
as when herbal products are offered in Malta city they will
generate high profits for the company. For this purpose I have
conducted an research analysis to collect data relevant to this
concept on the basis of my own search. I have taken data from
various books, articles, journals where views and ideas of
different authors are given that help in developing a effective
business plan. Moreover, I have conducted feasibility research
and took help of business model for implementing innovative
herbal products in the marketplace.
This main reason for choosing this research project i.e.
business plan on importing Ayurvedic products from India and
starting a retail store in Malta which do sales and distribution of
the same on the Maltese market is to understand the concept of
Ayurvedic products and how they benefit both employees and
customers of Indiherbs. By this research, I have also identified
the factors by which company can produce and launch its
Ayurvedic products in market. From the past records based on
cosmetic industry and experience and demands of customers, I
have concluded that cosmetic users of Malta are facing skin
problems and irritation. This gave scope for the establishment
of herbal beauty products at market place. Because of increase
in skin problems by usage of artificial beauty products, it has
given an opportunity to Indiherbs for introducing its business in

the field of Ayurvedic products in marketplace of Malta. Malta
is a capital city and this location offers a large range of
transportation, infrastructure facilities and raw materials that
are necessary
for making the Ayurvedic products of Indiherbs. In this
research I have formulated a business development report
which includes brief introduction of chosen company and its
mission and vision. Additionally, in terms of project feasibility,
research is defined in terms of industry in which Indiherbs
conducts its business. I have generated scope for estimating
future advantages of this organisation by serving Ayurvedic
products. In accordance with business model, I have given
information that includes theoretical framework and strategic
plan for the chosen company. It aids the company in attaining
high competition in market. In the end of this report I have
given a business plan that depicts insight of potential risk,
opportunities, viability and estimated budget for manufacturing
and launching Ayurvedic beauty products at Malta. Therefore
all these steps helped me in making an effective business plan
that shows ways by which Indiherbs will execute innovative
ideas in launching Ayurvedic product business. In near future,
this business proposal would directly aid in reaching to new
heights for a real purpose. I have found that Indiherbs might
become an attractive brand at Malta In near future due to its
organic and ayurvedic products and services.
Literature & sources
1. What are the most
important
theories/literature/ev
idence sources
which you are using
to justify your
research and your
Major Project?
2. Why are these
There are ample number of theories sources and evidences
has been used under this business proposal so that to improve
the effectiveness of business proposal in specific time frame.
Models like business CANVAS model has been used to
identify the reliability feasibility of business proposal. Another
model with has been used five forces model in order to evaluate
the competitiveness of ayurvedic products at Malta. Both of
these two models has helped in examining the benefits and
risks that are present in the market. There were many reasons
behind why I chose these models. First and the vital most factor
to use a business Canvas model is that a business proposal
cannot be built without Canvas model. I found out that Canvas
model basically shows all the key partners activities operations
risks and other things that could help in taking a decision in

sources important
and fundamental to
your work?
(max. 550 words)
current time. On the other hand, can also be said that business
organisations looking forward to expanded service can also use
Canvas model in order to become much more successful within
the market. I found out that, with the help of this kind of model
an organisation or start up can easily gain competitive
advantages any specific time frame. If it is just talked about
porter’s five forces model then it can be said that this model
has fitted the position for this proposal and has helped in
finding out the best solutions for Risks which were involved
while starting up Indiherbs. This is why these two models has
been chosen under this proposal. But in some cases I got
confused because a few factors of these models were a bit hard
to understand and impacted negatively on my own performance
while developing this business proposal. This made the whole
research go longer than it was expected. Along with this, these
two models also enhanced my knowledge towards the business
cases which may help me in near future to execute new plans. I
am also chosen these two models because most of other
students have also been used these type of models in order to
develop an attractive business proposal. My lecture has also
suggested for the same and the module which was provided for
this present proposal has also considered these two models to
use in order to examine every single factor which is related to
or connected to real business. There are Many benefits and
importance that I found out of Canvas model and these are: it is
simple to use, different and unique from other related models,
universal and intuitive. Lastly, its importance is that it could
help a company in covering the practical’s with consultants and
an actionable Model which could be used in both existing
business or at the Time of staring a new business.
Whether It is an established business or just getting started, a
business model canvas is an amazing tool to help in reaching to
the goals and objectives. It provides with a one page document
that cuts out the fluff lays everything out right in front. Along
with this it has been found out that, It’s easily editable so as
business changes A company like Indiherbs can change Its
canvas to match. And if Company is creating a lean startup,
there is a business model canvas made just for the organisation.