Kolb's Experimental Learning Style

This assignment provides an in-depth analysis of Kolb's experimental learning style, which involves four stages: concrete experience, reflective observation, abstract conceptualization, and active experimentation. The student applies this model to a business scenario, specifically running a company like Wedding Bells, using the Business Canvas Model. The assignment highlights the importance of risk management, revenue streams, and effective decision-making in a business context.

ESSAY

Table of Contents
OVERVIEW....................................................................................................................................3
MAIN BODY...................................................................................................................................3
Concrete experience: ...................................................................................................................3
Reflection observation of the new experience: ...........................................................................4
Abstract conceptualization...........................................................................................................7
Active experimental.....................................................................................................................7
REFERENCES................................................................................................................................1

OVERVIEW
Kolb's experimental learning theory is a holistic perspective which combine perception,
experience, cognition and behaviour (Kolb and Kolb, 2012). This theory work on basic two level
such as a four stage cycle of learning and four separate learning style. In this report reflection on
business canvas model and learning out come is discussed.
MAIN BODY
In general, experimental Kolb's learning style is basically presented by a four stage of
learning cycle that help to learner to strike all the bases. These stages are discussed below:
Concrete experience:
This stage of learning cycle is consider to be first stage where the learner actively
experience an activity. In accordance to framing of a business canvas model I and my team have
come through different prospective that help to increase business knowledge. It has been stated
that reflective analysis is a guide that provide the opportunity to examine an individual
experience and connect it to the learning objective of the primary course. Business canvas model
is consider to be an effective method that help me and my team to develop a valuable business
plan which further support us to bring new idea for business. We have set up a new company
“wedding bell” and deliver an effective business idea by providing different marriage related
services. Me and my team focus to bring innovation in services that are related to marriages and
parties such as we add music band that will be centre of attraction to guest. In accordance to the
business plan I worked as an entrepreneur that help me to bring valuable thought in business idea
which support in economic growth and also aid to improve the standard of living of country.
Entrepreneur is defined as the process for developing a attractive design, launch and run a new
business in effective manner. Other team member help me out to established, managed and
organise Wedding bells along with taking risk and maintaining profit. I make sure that business
plans for a new start up business is must be according to the canvas model that is consider to be
lean start up and strategies management template for managing new business.
As an entrepreneur I have to performed specific kind of role that help me to increase my
knowledge related to market, about current trends, customer demands and requirement, lifestyle
of people and competition (DeRue and et.al, 2012). Some common role are described
underneath:

Initiator: This role of entrepreneur help me out to create a “Wedding bell” with the help
of innovative idea and making plan to make idea work in reality.
Risk Taker: I use to take risk in accordance to find the capital to back up idea and my
team also find the places that could be reason for risk in future to business.
Forecasting: This is one of the important role of an entrepreneur as without accurate
forecasting business idea could not be able to survive for long run. Thus me and my team analyse
factor in advance that could be main reason for reduction of company growth and popularity. We
adopted PESTEL analysis that help us to determine the environment for UK and SWOT analysis
which support us to ascertain strength, weaknesses, threats and opportunities for “Wedding
bells”.
Allocator: This role of entrepreneur help me to manage and control available resources
in an effective manner so that respective company can grow. In our company we also require
skilled and professional staff member who will work for the betterment of company. So I used to
take interviews and hire best candidate those will help to set and carry our new business in a
presentable manner.
In case if I work as an intrapreneur then the processes may differ in some context such as
I would have contribute to the bigger picture such as introduction of new ideas for the better
growth of “Wedding bells”, inspiring creativity and most important would have lead the team
and motivate all of them to perform their respective job in a meaningful manner to attain the
objective.
Reflection observation of the new experience:
While performing the job role of an entrepreneur I also analysed and determine the factor
that could hinder the performance of our company. Furthermore, we use the concept of BMC
model to examine the situation of business and various opportunities. The BMC model or
business model canvas is a valuable graphical representation of number of variable that help to
display the values of a business firm. It can be deployed as a strategy tool that support in
developing new company in the competitive world. The model have nine categories which me
and my team refer as the building blocks for our newly developed business.
Key partner:
This means that organisation have to create alliances with respective partner so that
business can grow in productive manner. Such as for fighting the competition, determining the

suitable knowledge and getting specialized in a specific field. Crucial information will be
acquired by knowing in advance that which partner will be valuable for the organisation. Like I
with my team evaluate the appropriate partner that will support us to run our company in
competitive environment. We approach different vendor, milkman etc. those will supply us
required raw food item so that we can offer different menu option to clients according to their
taste and preferences. We also found common people basically florist's and made an agreement
so that they can supply us sufficient flower according to the demand for a specific event.
Key activities:
It is very important for an entrepreneur to have a effective knowledge about the core
activity of a company that help to add value to the organisation. Most of the business activity are
done for the company value proposition. Such I used to implement different marketing activity
like advertisement in newspaper, magazines, published brochure etc. that will be beneficial for
our company to gain popularity among people living in UK. Me and my team also applies crucial
selling activity in order to attract more people such as we provide additional benefits to our client
such as we will make memorable videos.
Key resources:
Resources are defined as the main elements that are required by company to perform well
in market. For “Wedding bells” I categorized the resources in following physical, intellectual,
financial and human resources. Such as physical resources are possession like business
instrument like building for company, decoration material etc. intellectual sources involves
things such as knowledge about business factor, brand name and patent right that makes our
company different from other. Financial resources reflect the actual money required to run
business and sources of revenue to our company. And at last human resources I hire that will
perform their job role for betterment of company.
Value proposition:
This includes the differentiate of company product and services from its competition
which help to increase market share and maintain increase goodwill. While we open our new
company so it is very important for us to deliver best product and services in market. I make
plans to offer attractive stage background design and catering services to respective clients that is
a value preposition to the company business. I and my team member focus to give best services

so that our customer fell satisfied as value proposition is about the core of a company rights exist
it meets the customer needs.
Customer relationship:
For running a business successfully it is significant for the management to interact with
the faithful customer. Thus it is determined that the large the customer base the more profit is
generated by company. So while opening new business I used to analyse the demand of specific
customer group in order to make company run effectively. I divide the customer group according
to the income level, age, etc. so that specific services are provided as each customer have
different requirement. In case if a client has made pre booking for an event they we use to
organise a meeting in which description about assorted services are provided to client.
Channels:
Its is very important for a business entity to deal with communication services provider,
distribution and sales channels so that respective company can grow. Such as in our company we
use to develop effective communication network for our customer so that they could reach to our
company and make use of services. In Wedding bells we develop official website so that higher
class customer can contact us and for middle class customer we use to published brochures. We
also focus to maintain good relationship with companies customer by sending them message
related to particular discount or fare rates.
Customer segments:
“Wedding bells” provides several services to more than one customer group. Thus we
decide to sensible divide these customer segments that help us to reach customer in impressive
manner and analyse their demands. We also adopt an effective method of getting in touch with
large number of people just by providing jobs to the needy which also help us to promote
business in different part of UK. I offer various job opportunities like in catering, involving
people music band etc.
Cost structure:
This actually help companies to well know that what the minimum turnover must be able
to make profit in the future time. The cost structure basically consist of economies of scale,
variable and constant cost and profit advantages. While implementing new idea of business for
“Wedding bells” me and my team have faced various problems while fixing cost structure. This

is because we exactly don't have the knowledge about the different important factor for running a
company like Wedding bells.
Revenue streams:
This is related to income generation for various services provided by company. In our
company we use to make a specific packages for services like marriage or parties that help us to
know what exact amount we will be getting after providing services to the customer.
In case if I would be working as an intrapreneur for wedding bell than degree to face risk
will be lower and I must have uses the business canvas model in more effective manner. I would
have taken more complex decision in different situation I do not have a fear to loss money that
allows me to think for company in a assorted perspective.
Abstract conceptualization
This is the third stage of Kolb's experimental learning style that tells that learner attempts
to conceptualization a theory or a model of what has been observed during the reflective
observation. While framing the Business canvas model of “ Wedding bell” me and my team have
acquired a detail knowledge about running and managing a business in successful manner. But as
an entrepreneur I think that if we would have added some more feature to BMC model that we
would have attain more meaning full result. Such as I think we should have offered
complementary drinks for client those are booking us for marriages. I also think that in case if
customer approaches us to manage an small event like birthday parties we would have provided
cakes and soft drink so that Wedding bells would get additional attention of customer and we are
able to expand our business in effective manner.
Active experimental
In this stage the learner applies their ideas to the surrounding in order to determine that
either the model is fit for upcoming experience. By analysing the performance of group in week
2, I observe that all members perform their roles and duties in effective manner and targets has
been achieved at some extent which provide help to prepare the report in effective manner. By
applying canvas model business can be developed effectively and accomplish the objectives as
per the plan of organisation. Entrepreneur can know how they have to perform and in which
manner they have to work so that organisational goals can be fulfilled and targets can be
achieve. There are various steps should be taken to ensure a successful outcome from final
report.

 Make the objective so that plan can be implemented according to the need.
 Formate of the report and the type
 Gathering information and data
 Report structure which involve executive summary, introduction, main body and
conclusion.

REFERENCES
Books and journal
Kolb, A. and Kolb, D.A., 2012. Kolb’s learning styles. In Encyclopedia of the Sciences of
Learning (pp. 1698-1703). Springer, Boston, M A.
Kolb, A.Y. and Kolb, D. A., 2012. Experiential learning theory. In Encyclopedia of the Sciences
of Learning (pp. 1215-1219). Springer, Boston, M A.
DeRue, D. S and et.al, 2012. A quasi-experimental study of after-event reviews and leadership
development. Journal of Applied Psychology. 97(5). p.997.