The Individual Reflection

This is a reflective report on the entrepreneurial activities and strategy of a group, including the skills exploited, challenges faced by entrepreneurs and intrapreneurs, and the performance in the business model canvas.

The Individual
Reflection
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Table of Contents
INTRODUCTION ..........................................................................................................................3
MAIN BODY...................................................................................................................................3
1. In what ways were the skills identified in your group exploited in developing the
entrepreneurial activities and strategy of the group?..............................................................3
2. Reflecting on the theories and tools utilised in the development of your group value
proposition what worked or did not work as expected?.........................................................4
3. Define challenges a person may faced as an entrepreneur, also define how this challenges
are different from intrapreneur?.............................................................................................5
4. Consider the performance of your group in the business model canvas and the processes
involved what would enable you see the idea through?.........................................................7
CONCLUSION................................................................................................................................8
REFRENCES...................................................................................................................................9
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INTRODUCTION
Entrepreneurial activities is considered as process of enterprising human activity in order
to conduct for enhancing value of economy by determining and exploiting new procedures,
products or market (Cherrington and Loveridge, 2014). Moreover entrepreneurship is defined as
phenomenon that is associated along with entrepreneurial activities. This is a reflective report
based on business canvas model project. This will include topics like what went good and what
went wrong, challenges faced by entrepreneur and intrapreneur, theories and tool for utilising
development of group value and it will also include factors of business canvas model.
MAIN BODY
1. In what ways were the skills identified in your group exploited in developing the
entrepreneurial activities and strategy of the group?
Now a day every person want to become an entrepreneur because through that they able
to generate profit, resolve issues of society, contribute in economic growth and many more. Me
and my team members conduct presentation of entrepreneur and in that we showcase our
business canvas model (Ferguson, Buckingham Shum and Deakin Crick, 2011). This is so
because it is one the effective model through which we can showcase whole idea or action plan
in effective as well as successful manner. While conducting presentation on respective topic me
and my team members go through several ups and downs which sometime impact on our
performance. Moreover while developing presentation I am able to analyse my several skills as
well as it will also help me in determining which are my strengths and which are weaknesses.
Skills which I generally analyse while developing presentation are team working,
communication, understanding, problem solving, technical, creativity, innovation and many
more. From these skills some are my weaknesses and some are strength. Skills which are
denoted as my strength are communication, team working, understand and creativity and
innovation (Frias and et. al., 2011). On the other hand my weak skills are time management,
problem solving, decision making and technical.
Due to this skill some activities went good whereas some went wrong. Activities which
are conducted goods are we able to conduct effective communication with each other as well as I
also analyse I effectively understand others issues. Along with this, I have good team working
skills through that I can properly communicate with every members as well as I effectively
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coordinate with my team members which help me in ignoring conflict situation while preparing
presentation. I am also creative and innovative in nature which help me in coming up with new
as well as innovative ideas for conducting work in effective manner. Through innovative and
creative skill I provide attractive as well as innovative ideas for developing attractive
presentation on entrepreneurship topic. In addition to this, there are some activities which went
wrong because I am lack in some skills such as I am lack in technical skills due to which I am
not able contribute effectively while making presentation on entrepreneurship topic. Moreover,
at that time I analyse that I need to enhance this skill as it is effective for developing successful
career. Furthermore, there are some other skill that impact on my as well as team performance
like I am lack in decision making skill due to which at the time of emergency I not able to take
decision alone I need some other person with me that impact on team productivity.
2. Reflecting on the theories and tools utilised in the development of your group value
proposition what worked or did not work as expected?
There are numbers of theories and tool which can be adopted by a person in order to
develop group value proportion as well as it will also help in determining what work are done
and what are expected (Hetzner and et. al., 2011). For this I take decision to use Gibbs Model
because it will help me in analysing my experience while conducting work in team for making
group presentation on the topic entrepreneurship. Gibbs model is introduced by Graham Gibbs in
year 1988 and it will provide structure in order to learning from experience (Koufogiannakis,
2010). There are main six stage of respective model which are explained below:-
 Description: This stage will help a person in determining what happened in the past. In
respect of my experience I take part or contribute in developing presentation on the topic
of entrepreneurship. While this I go through several ups and downs which impact on my
as well as team performance.
 Feeling: At this stage a person can determine thoughts and feeling related to the specific
experience (Moon, 2013). In respect of my situation I able to analyse my skills as well as
it will also help me in determining which skills are my weaknesses and which are
strength. Skills that are strength are communication, team working, understand and
creativity and innovation whereas my weak skills are time management, problem solving,
decision making and technical.
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 Evaluation: In this phase an individual will conduct evaluation of their good as well as
bad experiences (Okuda and Fukada, 2014). In my case there is also both good and bad
experiences which impact on the presentation. Good experiences are me and my team
members interact each other effective as well as we understand each other view point
which help us in avoiding conflict situation. But there are some bad experience like I am
lacking in technical skill due to which I am not effectively contribute to the activities
related to developing presentation and other technical activities.
 Analysis: At this phase an individual will analyse the whole situation in order to identify
sense of situation. In respect of my situation I analyse that I go through both good and
bad experience but I am happy that I go through such situation. This is so because
through that I can understand my skills as well as it will also help me in determining
skills in which I am lacking.
 Conclusion: In this stage a person need to conduct conclusion about what they learned in
whole situation and what they done differently in order to gain effective outcome
(Owens, Allen and Spangler, 2010). In my situation I think I perform well but I can do
more effective if I have all skills as my strength. This is so because I feel bad when I not
able to contribute to presentation work properly due to lack of technical skills.
 Action Plan: At this stage a person need to analyse situation and determine strategies
which they can adopt in order to deal with similar situation or issues. In respect of my
situation I want to attain training and development programmes so that I can improve my
technical skills as well as I also need to take training under professional in order to
enhance my problem solving, time management and decision making skills.
3. Define challenges a person may faced as an entrepreneur, also define how this challenges are
different from intrapreneur?
While developing presentation on the entrepreneurship I understand that there is
difference between entrepreneur and intrapreneur. This is so because they are operating at the
different level such as intrapreneur operate under some organization whereas entrepreneur
conduct their business activities independently (Pammer, Krogstie and Prilla, 2017). Along with
this I also get to know that there are numbers of different challenges faced by entrepreneur as
well as intrapreneur while conducting their business operations and functions. Some of the main
challenges of entrepreneur and intrapreneur are given below:-
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Challenges faced by entrepreneur
 Cash flow management: While conducting analysis I analyse that this is main challenge
face by an entrepreneur because they are operating at the small level due to which they
have small budget (The top 10 challenges faced by entrepreneurs today: Solved, 2020).
Moreover during conducting research I also determine that some entrepreneurs do huge
struggle in paying the bill of their expenses that may also force them to close their
business.
 Hiring talent: While collecting information for my presentation I also analyse that
entrepreneur face issues in hiring talent candidates. This is so because best candidates
want to get more pay or want to get hired in multinational company (Paterson and
Chapman, 2013). Along with this, conducting recruiting session on wide level impact on
the time, money and working of entrepreneur.
 Capital generation: In order perform business activities in effective manner companies
required capital. But while conducting evaluation I determined that no one want to invest
their funds or capital in new company or entrepreneur due to which entrepreneurs face
huge challenge in attracting investors. According to me this will generally take place
because no one want to trust on the new firm or entrepreneur.
Challenges faced by intrapreneur
 Strategy conflict: According to me this is generally faced by intrapreneur because they
need to conduct business with the parent organization as well as they also need to pull
together resources in order to capture opportunities (5 most common issues of
intrapreneurship, 2020). Due to which strategic alignment take place among the
intrapreneur and organization which impact on the business activities of intrapreneur.
 Leadership conflict: I also analyse that intrapreneur also go through leadership conflict
because leader of parent company want that whole work will conducted according to
their decision. But intrapreneur own want that they do their according to their decision or
blue plan as that will help them in conducting work in effective as well as efficient
manner.
 Resource conflict: According to me it is one of the main challenge which is faced by
intrapreneur while conducting their business operations and functions under the parent
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company. Moreover in respect of research conducted by me I determine that resource
conflict is faced by respective venture due to complicated capitalisation issues.
4. Consider the performance of your group in the business model canvas and the processes
involved what would enable you see the idea through?
Business model canvas is consider as strategic management as well as lean start-up
template which is generally used for designing new or documenting/ managing existing model of
business (Siebert and Walsh, 2013). There are various elements of business model canvas such
as channels, value proposition, key resources, revenue streams, customer relationships, key
activities, cost structure, key partners and customer segments. In my group presentation we also
present entrepreneurship idea through business model canvas from with my role is to gather
informations on three elements, which are mentioned below:-
 Cost Structure: In this I determine the cost of establishing or running business according
to the specific model. In respect of this I understand that a business can be cost driven
which mean it will focused on highest investment for business or it business can also be
value driven according to which they will focus on maximising value to customers. In
this I conduct evaluation of several elements such as fixed cost, variable cost, economies
of scope and economies of scale.
 Revenue streams: According to this factors I need to follow it in order to determine my
entrepreneurial venture customers segment to buy our products or services effectively. I
also understand that in order to develop effective revenue stream I need to considered
various elements. That include assets sales, subscription fee, usage fee, lending/ leasing/
renting, brokerage fees, advertising and licensing. This is so because these elements will
help me in developing effective decision related to products or services designing.
 Value proposition: At this I understand that value proposition is considered as
combination of services and products which my entrepreneurial venture will offer to
potential or targeted customers (Thieme and et. al., 2011). While conducting this me and
my team members need to determine that strategy or product must be unique so that it
can be easily differentiate with competitors. Moreover, while conducting analysis through
value proposition I need to consider two categories i.e. quantitative as well as qualitative.
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CONCLUSION
By above discussed point it can be determined or conclude that a person go through
numbers of ups and downs while conducting activities in group. Through which they able to
enhance their skill, abilities and capabilities that help them in developing effective future or
career. There are numbers of methods and tool through which an individual can determine their
experiencing while performing specific activities such as Gibbs model as by considering its
stages a person can go through their experience and analyse situation properly. Moreover while
conducting report a person also able to determine challenges which are faced by interaprenure
and entrepreneur. Along with this, a person can represent their idea by implementing business
canvas model.
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REFRENCES
Books and Journals
Cherrington, S. and Loveridge, J., 2014. Using video to promote early childhood teachers'
thinking and reflection. Teaching and Teacher Education. 41. pp.42-51.
Ferguson, R., Buckingham Shum, S. and Deakin Crick, R., 2011. EnquiryBlogger: Using
widgets to support awareness and reflection in a PLE setting.
Frias, A. and et. al., 2011. Death and gratitude: Death reflection enhances gratitude. The Journal
of Positive Psychology. 6(2). pp.154-162.
Hetzner, S. and et. al., 2011. Error orientation and reflection at work. Vocations and
Learning. 4(1). pp.25-39.
Koufogiannakis, D., 2010. Thoughts on reflection.
Moon, J. A., 2013. Reflection in learning and professional development: Theory and practice.
Routledge.
Okuda, R. and Fukada, M., 2014. Changes resulting from reflection dialogues on nursing
practice. Yonago acta medica. 57(1). p.15.
Owens, T. E., Allen, M. D. and Spangler, D. L., 2010. An fMRI study of self-reflection about
body image: Sex differences. Personality and Individual Differences. 48(7). pp.849-
854.
Pammer, V., Krogstie, B. and Prilla, M., 2017. Let's talk about reflection at work. International
journal of technology enhanced learning. 9(2-3). pp.151-168.
Paterson, C. and Chapman, J., 2013. Enhancing skills of critical reflection to evidence learning
in professional practice. Physical Therapy in Sport. 14(3). pp.133-138.
Siebert, S. and Walsh, A., 2013. Reflection in work-based learning: self-regulation or self-
liberation?. Teaching in Higher Education. 18(2). pp.167-178.
Thieme, A. and et. al., 2011. Lovers' box: Designing for reflection within romantic
relationships. International Journal of Human-Computer Studies. 69(5). pp.283-297.
Online
The top 10 challenges faced by entrepreneurs today: Solved. 2020. [Online]. Available through:
<https://www.deluxe.com/sbrc/financial/top-10-challenges-faced-entrepreneurs-today-
solved>.
5 most common issues of intrapreneurship. 2020. [Online]. Available through:
<https://e27.co/five-most-common-issues-of-intrapreneurship-20180727/>.
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