Personal Reflective Journal Report - Enterprise and Opportunity

This report reflects on the experience gained from the Enterprise and Opportunity course, focusing on team management, leadership, problem-solving, communication, opportunity recognition, HRM activities, innovativeness and creativity, intellectual property rights, business growth opportunities, and the exit strategy.

Personal Reflective
Journal –
Enterprise and
Opportunity

Table of Contents
INTRODUCTION...........................................................................................................................1
TEAM WORK.................................................................................................................................1
CONTEXTUALISATION...............................................................................................................5
DEVELOPMENT............................................................................................................................7
CONCLUSION..............................................................................................................................10
REFERENCES..............................................................................................................................11

INTRODUCTION
The word entrepreneur has originated from the French word entreprendre, which means to
undertake a charge of something. An entrepreneur is a person who owns, managers and leads a
business by taking calculated risks to achieve profits (Ratten and Usmanij, 2021). An
entrepreneur is required to perform many activities like managing risks, business management,
profit creation etc. to achieve success and growth of the enterprise. An entrepreneur needs to face
many difficulties because of the risk of a failure and intense competition in any form of business.
Personal reflection refers to the summary of experience that an individual has obtained from a
particular activity or task of longer duration according to their perspective (Geiger, 2020). e.
Personal reflection requires analytical and critical thinking that shows Through The course work
of Enterprise and Opportunity, we have studied about various phases through which an
entrepreneur needs to follow for creating a successful and harmonious venture like team
management, leadership, problem solving, communication, opportunity recognition, HRM
activities, innovativeness and creativity, intellectual property rights, business growth
opportunities, and the exit strategy. The following report will be describing the process of
creating teamwork with the help of Belbin's team role and management theories. It will also
explain about a personal experience and appraisal for the given job role in the real business
enterprise. In the end it will explain about the skills that I have developed with the help of this
module and how these skills would be helpful in the future profession/ career.
TEAM WORK
Teamwork is a group activity that involves the process of cooperating and collaborating with
other people in a group for achieving the common objectives and goals (Driskell, Salas and
Driskell, 2018). It is very important that people work in a team for achieving their desired
outcomes in the best possible manner by unison with the efforts of group individuals. It explains
that the individuals in a group must put efforts to cooperate with each other by using their skills
and provide constructive feedback to team members for improving the team performance.
Belbin team role theory was developed by Belbin in 1981, it explains that every person
develops certain behavioural tendencies when they are working within a group with other people,
and these behaviour tendencies may change according to the team requirements. Belbin team
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role theory explains that there are nine different roles that must be included by a team to be
successful that consist of implementing, monitoring, team worker, coordinator, plant and many
more. The major advantage of using the Belbin team role is that an individual may have more
than one role within the team for improving the overall performance (Gonzalez and Melo 2019).
For instance, within my team there are various people who are assigned to the same role and I am
the team worker, implementer as well as a computer finisher. Some of the other team members
are also in the role of team worker, implementer etc. because it is important for handling the
teams effectively. "A powerful team works in collaboration to finish a responsibility in a
concurrent time, with every individual adding to the group as per their abilities, experience, skills
and character."
I accept that the principal perspective to an effective team project is laying out a bunch of
team rules pertinent to every person by figuring out their strengths, shortcomings and their
favoured strategy, role and methods for working within a team. I have seen this as exceptionally
valuable as it included a positive behaviour inside every individual within the team which also
supported finishing the task at the appropriate time.
As the group chief/project supervisor/operations master, I am involved in carrying out
various group activities which rely upon explicit action or circumstance, according to project's or
group' expectations. In this situation, I am generally arranging the conversation between
significant clients and my group to facilitate explaining the issue, including explicit replication
steps, and reaffirming the anticipated result. Then I drive and urge the group to concoct their own
solutions for problems and guarantee vital quality control ways to deal with being as per the
plant standards.
During the planning activities with teams, I urge all colleagues to suggest their viewpoint
and clarify their problems. And afterward I coordinate and conduct further inquiry to adjust the
group back to the company targets. It's like a looking in and looking out process so the group
could envision a greater picture as well as works as per the planned actions (Maynard and et. al.,
2018). In this present circumstance, I assume the role of team coordinating.
Sometimes, when the group creates a lot of opinions, I need to step in to assess, evaluate and
give recommendations for the group so they could pick the most appropriate decisions. In this
present circumstance, I assume the part of Monitor/Evaluator. Generally I devote and spend time
as well as energy to explore all the desired decisions and then discuss with the team members to
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choose the best plan (Sambrook and et. al., 2018). Furthermore, I additionally need to play out a
recreation to guarantee that the new decisions/ methods meet the desired outcomes with a lower
than 5% rate of failure. Time to time, I need to imaginatively consider new arrangements rather
than reuse any current arrangements that were made before.
As planning is likewise another basic element, it is crucial to complete the concurrent work
at the concurrent time to help coordinate and give a path of action to a fruitful task completion.
As I would see it, task planning is the main aspect that needs improvement as though we had
invested more energy on planning activities, it could prompt an improved result with superior
grades. This project task has helped all colleagues to handle and focus on the various parts of the
project and improve effective communications. I accept this will be truly helpful in the future
professional/ career growth as it is a basic skill that I need to possess. I will make sure that I
could enhance my communication in the future; I would focus on communicating to the people
to provide precise discussions and to keep away from superfluous contentions and issues.
Reflection on Tuckman’s Model
Here I will examine essential management theories which are utilized to address my conduct
in the group. First I will examine the academic exercises which I partook in as of late and
furthermore talk about my previous encounters with various activities. Tuckman developed the
findings of number theorists into his popular ‘Forming-Storming-Norming-performing’ model
(Robb, 2022). It shows the behaviour of the group.
 Forming: In this stage of Tuckman theory, people from different areas are structured into
a team for the first time to work together towards a common objective. These individuals
are dependent, looking for help and direction and having various kinds of culture. Here
Members are highly dependent on the leader's abilities for help and direction.
 Storming: In this stage the leader faces difficulties with colleagues in the group. The
problem solving and conflict resolution is considerably viewed as fundamental in this
stage to determine the decision of a person in the team. This is because of a feeling of low
self-motivation. Because of unpredictable connections, individuals are disobedient to the
pioneer or driving individuals.
 Norming: Individuals are courteous to one another, jobs and obligations are clear and
satisfactory, conversations and improvements about objectives are considered as the most
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important components of norming (Chopra, 2018). The members in the teams are more
resilient, independent and confident to handle activities.
 Performing: The group has the obvious meaning of the project tasks and arriving at the
objectives or goals. Issues are tackled with higher efficiency when they occur and the
group is always prepared for finishing tasks on time. Everybody has equivalent errands,
effective collaboration and idea sharing to arrive at the objectives of the team.
Reflection on Vroom’s Model
This is an overhauled model of the Vroom and Yetton contingency model proposed by the
Vroom and Jago, Consists of five primary dynamic styles from a set of twelve of possibility
factors. This model is for the most part utilized in settling on the most ideal choices. We can
utilize any of five choice styles that might be successful in given circumstances. The possibility
factors are: Quality necessity; responsibility prerequisite; pioneer data; issue structure;
responsibility likelihood; objective coinciding; subordinate clash; subordinate data; time
limitation; geological scattering; inspiration time and inspiration advancement (Ren, Jiang and
Tang, 2022). These are replied on a five point scale. We select choices in view of high appraising
given by greater individuals in a group. For instance, 'how much significance did you put into
going to the exercise center?' The administrator chooses one of the following reactions: no
significance; low significance; normal significance; high significance; basic significance. Vroom
and Jago created four choice trees to a conventional kind of administrative issue:
 An Individual-level issue with time imperatives;
 An individual-level issue where the supervisor wishes to foster a worker's thinking skill;
 A gathering level issue in which the management wishes to foster worker's thinking
skills; and
 A time driven bunch issue.
I distinguished my way of behaving while at the same time working in a group as an
individual involving the leader's speculations in various ways like encountering individuals from
different cultures and climates. I figured out how to act with individuals and blend in
collaboration to enhance effective team performance.
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CONTEXTUALISATION
There are various experiences, knowledge and conceptual knowledge that I obtained from
the workings for the real business case. In each association there is a need to execute productive
procedures for building compelling groups or teams other than consumer loyalty despite the fact
that companies had Human Resource Management (HRM). I was also involved in the HRM
activities like handling teams and workforce through effective leadership and management
theories that were developed for enhancing the performance of leaders and managers. I’m very
grateful to learn about HRM activities in the programme that helped me to enhance my
experience. One job I didn't anticipate appreciating however is extremely grateful for is having
the option to participate in a wide range of gatherings. I met with different individuals from the
HR office about progress in everyday tasks, dissecting worker information, or further developing
recently added team member materials. Through this, I acquired numerous hard and soft skills/
abilities regarding grasping monetary expressions, retirement function, recruitment, insurance,
employee grievances, finance management and pension fund. Much more, I mastered significant
delicate abilities like correspondence inside a business climate.
Maslow’s Hierarchy of Needs
This Model for motivating the people was introduced by Maslow in 1943, and focuses on
individual turn of events and inspiration (Stewart, Nodoushani and Stumpf, 2018). As per
Maslow-'individuals need creatures, they generally need more and what they need relies upon
what they as of now have'. Human necessities are organized in the series of levels, in progressive
system of significance. Maslow distinguished eight normal requirements, including the need to
be aware and grasp tasteful necessities, and the need of greatness. However, the order is
normally shown five principal levels, at most minimal level physiological and at most elevated
level self-completion. Maslow's model which gives the premise to my work in method for
individual way of behaving and inspiration, I concentrated on this hypothesis which was alluded
to by my companion; this hypothesis principally manages five regions which are referenced in
the graph.
 Physiological needs: It mirrors my singular reasoning in feeling of homeostasis like
fulfilment of yearning, thirst and requirements for oxygen and to keep up with
temperature guidelines (Smith and Sweet, 2021). It is a huge need of each and every part
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in the group for group achievement, and furthermore I comprehended the ideas connected
with natural way as opposed to shape or construction.
 Security and safety: I gave human wellbeing classes to individuals who are in ancestral
regions as a component of NSS action. These incorporate shielding from risk, security,
and consistency preparing.
 Love and affection: It is vital to show love not exclusively to the external individuals yet
in addition individuals among the gathering (Lertxundi, Barrutia and Landeta, 2019). I
roused by perusing books of Mother Teresa, and her administrations to individuals.
 Esteem needs: It is our fundamental ethic to give regard to individuals of various
cultures. The exercises incorporate dignity which includes the craving for certainty,
strength, autonomy and opportunity, and accomplishment.
 Self-actualization: This is the improvement of and acknowledgment of one's maximum
capacity. In Maslow's perspective 'what people can be, they should be', or 'becoming all
that one equipped for becoming'. It incorporates development, imagination among the
colleagues towards objectives.
Motivational Enhancement concept
Inspiration advancement characterizes inspiration as "some main impetus inside people
by which they endeavour to accomplish an objective to satisfy some need or assumption". It
implies that every individual has their own conviction about the thing they are doing, it comes
from encountering disappointments. Here, to the pioneer, there is need to give great inspiration
among the colleagues, yet in addition every part in the group has information on inspiration
speculations. In the event that people are propelled, are probably going to put forth great attempts
in cooperation then it leads to great outcomes. Collaboration increases competitiveness by:
working on result, esteem and empowering development; accepting advantage of the open doors
given by specialized propels; further developing representative inspiration and responsibility. In
group working any part calls attention to the other part straightforwardly assuming that part is
doing anything wrong, by speaking with him and giving any ideas on the spot unafraid, in group
working.
Task capabilities helpful in, critical thinking, the achievement of the assignment of the
teams, trade of thoughts and data (Wan Norhayate and et. al., 2019). Upkeep capabilities are
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worried about close to home existence of the gathering and pointed toward building and keeping
up with the gathering as a fruitful working unit. It gives the goal of contention, support, keeping
up with cohesiveness, and connections among the gathering individuals. Errands and support
capabilities are performed by either a team leader or individuals. I noticed numerous things both
positive and negative. Positive responses incorporate; showing fortitude in the feeling of notice
the situation with individuals work, giving assistance. I additionally saw that my group chief
supports the individuals, and the method for making jokes shows satisfaction. My colleagues are
dynamic in method for sharing thoughts, common comprehension and support; trade of assets
actually between groups. Negative responses include: absence of using time effectively and
absence of inspiration and arranging and furthermore unfortunate correspondence of my group
chief with other gathering group pioneers.
Besides, I acquired understanding on the defects in my own monetary security. Preceding
this entry level position, I seldom gave thought to a drawn out reserve funds plan and had barely
any familiarity with venture valuable open doors and bank accounts. By assisting Arch workers
with getting the advantages that are best for them, it opened up inquiries concerning assuming I
was doing likewise for myself, and has brought about me distributing my very own greater
amount cash into reserve funds and money management, two things that I have learned are
turning out to mean a lot to start quite early on.
At long last, this is maybe the very thing I am generally thankful for - I fabricated a ton of
significant connections. I have elevated degrees of regard for all of my colleagues who have
established an inviting climate that made me anticipate going to work every day. I'm appreciative
and pleased to realize that later on I will have individuals to go to with substantially more
information and experience than me as I disentangle the intricate details of the business world.
DEVELOPMENT
I have obtained various skills and abilities that could be helpful to achieve success in my
career as project manager and sales and marketing manager in the business. I have obtained
various skills such as team management, communication, interpersonal skills, problem solving,
critical thinking, decision making, ICT, digital literacy, innovation and creativity, etc. These
abilities were created by different exercises during the higher examinations, encounters acquired
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during the work, group working exercises during the tasks and tasks, taking part in sports
exercises and so on.
Soft skills can be defined as character qualities or relational aptitudes that influence your
capacity to work and interface with others, individual credits, character attributes, innate
meaningful gestures, and discussion abilities needed for progress at work (Rebele and Pierre,
2019). Soft skills address how an individual collaborates in their associations with others. Soft
skills incorporate versatility, disposition, correspondence, imaginative reasoning, hardworking
attitude, collaboration, organizing, decision making, positive, using time productively,
inspiration, adaptability, critical thinking, decisive reasoning, and threats Soft skills relate extra
to the capacity to understand anyone on a profound level and are innate capacities that assist us
with having collaboration well with others. They are helpful across all ventures and occupation
types. Hard abilities, then again, are by and large work explicit capacities that are learned
through preparing or schooling."
The main idea that struck a chord about soft skills was about something that we use in our
regular routine: the abilities that are significant in day to day existence which makes life simpler
and smoother (Succi and Canovi, 2020). Relational abilities which oral or composed and permit
you to communicate your thoughts is the primary concern which strike a chord about interactive
ability, as a DSW I accept that I have a more prominent force of undivided attention on the
grounds that the issue which should be settled must be broke down in a legitimate manner so I
feel that undivided attention play a significant part in critical thinking and profession
establishment. Reflecting back what members say and being participated in every discussion so
they realize we grasp them. Great listening lays out certainty and appreciation right off the bat,
so shoppers will feel calm trusting in you. In particular, fiery listening not exclusively fabricates
a restorative collusion, but clients moreover experience considered and comprehended.
Emotional attributes, for example, uplifting outlook and excitement are esteemed
exceptionally by labourers and can have a critical effect with the members and family. In this
segment, pretends and different exercises are utilized to show members ways of behaving that
are seen emphatically by bosses. In the future to further develop soft skills I will attempt to
further develop Teamwork abilities which permit me to work pleasantly in a group putting in the
work environment to quickly and effectively achieve errands, Teamwork is vital for professions
in statistical surveying, occasion coordination. Appointment, Collaboration, Cooperation,
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Coordination, Idea trade, Mediation and Negotiating can be acquired through cooperation.
Participation and critical thinking should be improved on the grounds that the site which I work
on is encircled with numerous issues that can't be settled without help from anyone else, through
collaboration and lobbing the thought and making a superior life is conceivable. Showing a hard
working attitude ought to be significant in each vocation, DSW as a calling can relate more with
the moral foundations on the grounds that the work which formative help specialists do is more
basic, Responsible and Disciplined. Being socially responsive and moving toward clients who
are from various racial, financial, and ethnic networks with deference and receptiveness is a
central part and soft skills that should be worked on in my profession.
Development Plan for Short term medium term and long term Goals
 My momentary objective is to accomplish critical thinking skills that are exceptionally
successful and can be useful to make viable choices over the long haul.
 My medium term objective is to foster professionalism and business skills on the grounds
that inside the business an individual requires proficient demeanour and conduct to deal with
the exercises really and productively.
 My drawn out objective is to turn into the high level task head and deals and promoting head
in the business for which I will strive reliably.
I have recognized that I will further develop my thinking skills, impressive skill and
administrative/authority characteristics to accomplish what I want to bring about my vocation.
The singular abilities and capacities could be useful to make progress in the vocation and calling
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development exercises (Alam and et. al., 2020). It is on the grounds that an individual could
involve these abilities in dealing with the risky circumstances, further developing group
execution, pursuing successful choices, methodical consideration, imparting actually to the
clients, and so on. Additionally, a few abilities like ICT, computerized proficiency, development
and innovativeness could be useful to incorporate and utilize the most recent innovation that can
give upper hands to development. I have additionally viewed as taking extra self-advancement
exercises like systems administration, work passages, going to visitor talks, and gaining
programs from LinkedIn so I can accomplish successful wanted execution for the gig. I
additionally got many testament courses like character advancement and using time productively
so I can upgrade my opportunities for proficient development.
CONCLUSION
It has been concluded from the above report that entrepreneurship is not a simple task and
requires an individual to possess certain skills and abilities that can help them to achieve success
in their professional career. It has been discussed that there are various activities that can be
undertaken to improve the teamwork and performance of people within a group. It has been
assessed that there are various effective ways to manage and handle team performance with the
use of effective models and theories of team management. Along with this it has been discussed
that there are various methods of improving the HRM activities within an organisation that
requires an individual to possess the knowledge of certain models and theories that can provide a
high level of success to them. Finally it has been discussed that an individual may develop
certain skills and abilities that can be helpful in uplifting their performance at the workplace and
achieving desired outcomes.
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REFERENCES
Books and Journals
Alam, G.M. and et. al., 2020. Contribution of informal and institutional skills provisions on
business inception and growth: evidence from manufacturing and service
industries. Business Process Management Journal.
Chopra, K., 2018. Vroom’s expectancy theory to motivate academic library users in India using
grounded theory approach. Global Knowledge, Memory and Communication, 68(4/5),
pp.300-322.
Driskell, J.E., Salas, E. and Driskell, T., 2018. Foundations of teamwork and
collaboration. American Psychologist, 73(4), p.334.
Geiger, J., 2020. Personal Reflection on Board Leadership and Ethical Decision-Making. Music
Therapy Perspectives, 38(1), pp.9-12.
Gonzalez, R.V.D. and Melo, T.M., 2019. Analyzing dynamic capability in teamwork. Journal of
Knowledge Management.
Lertxundi, A., Barrutia, J. and Landeta, J., 2019. Relationship between innovation, HRM and
work organisation. An exploratory study in innovative companies. International Journal
of Human Resources Development and Management, 19(2), pp.183-207.
Maynard, M.T. and et. al., 2018. Teamwork in extreme environments: Lessons, challenges, and
opportunities. Journal of organizational behavior, 39(6), pp.695-700.
Ratten, V. and Usmanij, P., 2021. Entrepreneurship education: Time for a change in research
direction?. The International Journal of Management Education, 19(1), p.100367.
Rebele, J.E. and Pierre, E.K.S., 2019. A commentary on learning objectives for accounting
education programs: The importance of soft skills and technical knowledge. Journal of
Accounting Education, 48, pp.71-79.
Ren, S., Jiang, K. and Tang, G., 2022. Leveraging green HRM for firm performance: The joint
effects of CEO environmental belief and external pollution severity and the mediating
role of employee environmental commitment. Human Resource Management, 61(1),
pp.75-90.
Robb, M.A., 2022. Stages of Group Development and Group Preparation. Group Art Therapy,
pp.107-115.
Sambrook, R. and et. al., 2018. Global teamwork: The rise of collaboration in investigative
journalism. Reuters Institute for the study of JOurnalism.
Smith, C.M. and Sweet, J., 2021. Analyzing the Relationship between Maslow's Hierarchy of
Needs and Consumer Spending Patterns. Journal of Financial Service
Professionals, 75(4).
Stewart, C., Nodoushani, O. and Stumpf, J., 2018, July. Cultivating employees using Maslow's
hierarchy of needs. In Competition Forum (Vol. 16, No. 2, pp. 67-75). American Society
for Competitiveness.
Succi, C. and Canovi, M., 2020. Soft skills to enhance graduate employability: comparing
students and employers’ perceptions. Studies in higher education, 45(9), pp.1834-1847.
Wan Norhayate, W.D. and et. al., 2019. Mediating role of knowledge management effectiveness
on HRM practices and organisation performance relationship. Trends in Social
Sciences, 1(1), pp.42-56.
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