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Research Reflective Report | Business Plan

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Added on  2020-01-28

Research Reflective Report | Business Plan

   Added on 2020-01-28

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RESEARCH REFLECTIVEREPORT
Research Reflective Report | Business Plan_1
TABLE OF CONTENTSRESEARCH REFLECTIVE REPORT...........................................................................................1Description..................................................................................................................................3Feelings.......................................................................................................................................3Evaluation...................................................................................................................................4Analysis.......................................................................................................................................5Conclusion...................................................................................................................................6Action plan..................................................................................................................................7
Research Reflective Report | Business Plan_2
Gibbs Reflective CycleDescriptionThe business plan that is prepared shows the viability of the new business idea foropening of waterfall restaurant. Throughout the entire process that I followed to prepare abusiness plan learn lots of things that I does not know before. My existing knowledge base alsohelp in completing project in systematic way. When business idea comes in my mind I think thatit will be easy to carry out required work but when I really start work on preparation of thebusiness plan I face many difficulties. In order to prepare a business plan in proper way I decidedto conduct secondary analysis and under this I collect lots of data from books, journals andmagazines. This increase my knowledge level about restaurant business to great extent. Fromreview of these publications I get an information about trends that are in the restaurant business.This help me in increasing my forecast capability. During the time when I was reviewingliterature I get an information about the gap that exists in the industry. On this basis I identifiedthe opportunists that exist in the market which I can explored in order to get good return in thebusiness. In this business plan I mentioned the opportunities that can be capitalized to earn supernormal profit in the business. In the business plan I identified the actual things that need to bedone in order to set the restaurant business. It was very important to understand the requirementof the people and in this regard I review various articles that were related to the consumerbehavior of the people. This business plan helps me in understanding the complexity that existin restaurant business. During preparation of the business plan, I feel that there is need to thinkcritically on each and every thing that is related to the restaurant business. It can be said thatcollection and analysis of secondary data help me in preparing this business plan in better way.FeelingsFeeling is the one of the most important thing that one needs to consider while doinganything. It is feeling that helps us in deciding that in what direction we needs to go in order todo specific task. I feel many things when business plan preparation process was carried out inrelation to opening of new restaurant. There were mixed feelings while carrying out the wholebusiness plan. In simple words I can said that there was totally different feeling before businessplan preparation process was commenced. When I start developing business plan I feel different.
Research Reflective Report | Business Plan_3

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