Critical Evaluation & Reflection on Porter’s Generic Theory
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This document provides a critical evaluation and reflection on Porter’s Generic Theory, focusing on its application in the expansion of Egg free cake box in the UK market. It discusses the cost, focus, and differentiation strategies and their impact on organizational effectiveness.
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International Entrepreneurship 6GN502 CW2 – Critical Evaluation & Reflection Template Student No.: Critical Evaluation Select and critically evaluate one model, framework or theory which you have used in CW1. You will need to include robust, academic references to support your critical evaluation and demonstrate academic underpinning (eg academic journal articles, textbooks). Ideally, these sources should not be journalistic or web based, and should be presented using Harvard referencing. Use the template below and approx. 750 words. Model, Framework or Theory to be critically evaluated: Porter’s Generic Theory Diagram of Model, Framework or Theory (if appropriate): Critical Evaluation: In a market, each and every organization developed with an aim to attain desired success and growth opportunities by implementing different strategies in their working practices. Organizational effectiveness can be defined as efficiency with which a firm is able to meet its target objectives and goals easily. For the
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organization, it is very much potential to select one of best theories and practices that best fit as per the organizational plan and policies. With the help of this, organization can implement desired modifications in their business practices on timely basis. It has been analyzed that the Egg free cake box that is one of leading SMEs of the UK market place aimed to expand their market in potential manner. In that regards it is very much potential for organization and its researchers to collect potential knowledge before selecting the one of best strategy and tactics. In context of Egg free cake box they aimed to expand their market in Italy for remain always competitive in marketplace. The researcher suggest that Porter’s generic strategy that based on the three major aspects that are cost, focusand differentiation that helps to organization in gaining the desirable goals and objectives (Dimmit, Maxwell and Nesvig,2019). In respective theory the cost strategy denotes the choose one of best price that is relatively low in comparison to the organizational competitors. The another strategy that is focus in which organization only focus on the specific consumer base after identifying the needs and wants of consumers in order to serve in one of best manner. The last one strategy is differentiation thatisvery much importantfororganization to gain positive outcomes fromtheir consumers in which organization add some values that helps to attract the consumers for purchasing organizational products and services. In context of Egg free cake box they choose the differentiation strategy by adding value that is egg free cakes as people are very much aware and respective kind of cakes rarely found in the market. By using the Indian tradition organization planned to serve the consumers in one of best manner (Brunstein and et.al., 2019). It has been analyze that whilerespectivestrategyusedbytheorganizationithelpstoidentifyoneselfand understand the problem of clients and way to solve in potential manner. Differentiation strategy also enables to focus on the marketing efforts of the organization in specific niche market that not only proved beneficial in saving cost but also time to remain competitive in the marketplace in potential manner. The new concept of organization is to serve Eggfree cakes in the market of Italy can capture eyes of customers who are more likely to try experimental food once in a while. Thus, it could be beneficial for them to promote their unique idea in the market of UK so that customers can be aware about such strategy and deserts option which are going to available in the market. One another advantage of this strategy can be in respect of those customers who prefer vegetarian food rather anything else. It has been analyze that there are some negative aspects that directly associated with the respective strategy that chosen by Egg free cake box for expanding their market in inside the UK to remain competitive in marketplace in potential manner. Sometimes when organization get specific and build the product accordingly it affect the other potential buyers too and narrow the market (Satyanarayan and et.al., 2019). Narrow market hinders the organizational profitability and sustainability. With sometime the consumers not able to understand the value of respective strategy and it is tough statement for organization to believe. So it is very potential to select the best one by evaluating its pros and cons to reach at valid kind of decision in potential manner. In that regards organization have to choose differentiation strategy as it provides sustainability in the market. Another challenging aspect of this strategy can be to manage quality and taste of cake without any compromise. Thus, it is required for organization to pay their maximum attention towards managing quality of their cakes as much finely as customers are looking for. After implementing differentiation strategy, firm needs to implement changes in their products and services to maintain concept of this strategy at desired level. Italy is basically a tastiest region for food lovers and is the number one country of having the best food in the world. Major reason behind the food of Italy is the quality and customers who also admire quality and taste of food. Thus for Eggfree Cake Box, it can be an opportune to represent their unique idea in the
market of Italy by implementing Differentiation strategy. References: Brunstein, J. and et.al., 2019. Sustainability in finance teaching: evaluating levels of reflection and transformative learning.Social Responsibility Journal. Dimmit, L., Maxwell, C. and Nesvig, C., 2019. Librarians as critical friends: Developing a sustainable peer observation process.College & Research Libraries News,80(4), p.216. Satyanarayan,A.andet.al.,2019.Criticalreflectionsonvisualizationauthoring systems.IEEE transactions on visualization and computer graphics,26(1), pp.461- 471. [This part of report worth 20%]
Reflection Reflect on the following question: How has the formative feedback you have received during the module influenced your approach to learning and how has that feedback helped you(ornot)toapplyyourinternationalentrepreneurshipmodels, frameworks and/or theories? You will need to include robust, academic references to support your reflections and demonstrateacademicunderpinning(egacademicjournalarticles,textbooks). Ideally, these sources should not be journalistic or web based, and should be presented using Harvard referencing. Use the template below and approx. 750 words. (NB: It is recommended that the 750 words are split relatively evenly across the What, So What and Now What sections). What? Gobackoveryourformativefeedback,approachestolearningandinternational entrepreneurship experience during the module (positive and/or negative), select areas to focus on and identify what happened. What academic content underpins your description? This is the descriptive foundation of your reflection and is a divergent approach to generate ideas, detail content and reconstruct events. With the help of this module I could enhance understanding of entrepreneurship and its related concepts. During the module, I had to work upon various entrepreneurial models with the help of which I could develop and enhance my analytical skills with the help of whichIcandealwithvariousactivitiesrelatedtoexpansionofthebusinessin international market(Twyman and Redding, 2015). To support this various models and theories are sued such as segmentation, targeting and positioning, along with market entry options. Various key aspects were used for supporting the learning method with the help of VAK styles of learning. In addition to this I participated in a group activity and a presentation with which I could demonstrate understanding of entrepreneurial expansion in international market. Apart from this, various sources were used for academic content such as books and journals with the help of which effective understanding and knowledge can be developed of various theories related with entrepreneurship. With this an insight for various required could be identified for effectively undertaking this module also it enabled me to understand the sequence of the activities related to the concept of entrepreneurship (Delaney, and Bates, 2015). (Approx. 250 words) So What? Describing your experience is not enough – you need to analyse things in detail from different angles to try and make sense of your experience and work out why this is significant. What have you learnt at a deeper level? What do you now understand about yourself in relation to the issue? How does your experience relate to theory? What does the formative feedback received mean for your approach to learning and the application of your international entrepreneurship models, frameworks and/or theories? This is a convergent approach to analyse your experience from a variety of perspectives.
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I believe that with this module I could develop an understanding of various entrepreneurial models and knowledge of various business operations on international level. With this detailed insights could be developed as the practically applicability enables better understanding. Various style of learning can be applied on various cases of various companies that helped in developing better understanding and analyzing actual situations faced by them. I could gather effective and appropriate knowledge along with my skills of working in groups also improved which also make me realize my competence and capabilities. The experience associated with the module is better and helpful because it develops practical understanding of various situation, theories and modelsSetyomurdian and Subyantoro, 2018). As per the feedback of the assessment, I found out that I had to improve on various skills and to work on my learning approach. In addition to this the improvement is required on the evaluation skills as efficiency to understand the situation is must along with identification of various theories to be applied on it(Delaney and Bates, 2015). Therefore, with this feedback I could enhance my ability of applying various models as per the requirement which is crucial for my psychological, personal, as well as professional development. Now What? Now that you have a better understanding of your experience, what will you do with the insights gained into formative feedback, your approach to learning and the application of your international entrepreneurship models, frameworks and/or theories? How will you be different? Or do things differently? What worked well that you could use again or adapt in the future?What should you avoid and why? Distil the most relevant lessons and determine how and where they can be applied. The formative feedback so provides facilitated me in improving my ability to learn more and to improve my existing ability. It provided me the direction for future that can reduce the chance of making mistake on the same factor. Therefore, with this the approaches can be changed for gathering knowledge so that the experiential learning can be improved. Tofavorthisfeedbackissupportiveasitallowedmetoimprovemypractical understanding of various theories and models of entrepreneurship. Participating in various group activities improved my communication skills as I had to interact with various people in the groups, teamwork skills improved with which the accomplishment of the goals and objectives can be made easier. The analysis and evaluation skills facilitated in breaking down the information and determining their impact on the company.Thepracticeunderstandingsodevelopedismoreusefulthanjustthe theoretical one as with the better decision making can be facilitated. In future I must take part in various workshops and training session so that consistent improvement can be made in understanding and level of knowledge(Twyman,and Redding, 2015). (Approx. 250 words) References: Delaney, G. and Bates, J., 2015. Envisioning the academic library: a reflection on roles, relevancy and relationships.New review of academic librarianship.21(1). pp.30- 51. Setyomurdian, A.N. and Subyantoro, S., 2018. The Development of Learning Material of Reading Complex Prosedure Text with CLIL Aproach for Vocational High School Students.Seloka: Jurnal Pendidikan Bahasa dan Sastra Indonesia,7(2), pp.185- 190.
Twyman,J.andRedding,S.,2015.PersonalCompetencies/PersonalizedLearning: Reflection on Instruction. A Peer-to-Peer Learning and Observation Tool.Council of Chief State School Officers. Reflection on Engagement Pleaseconfirmthenumberofsessionsattendedbetweenweeks3 and11 (max.18). Explain and reflect on any absences. No of sessions attended between weeks 3 and 11 (max 18) Explanation of and reflection on any absences: (Max. 100 words)