University of Cumbria, BM6025-29: Reflective Report on Skills

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This report is a reflective analysis of the academic and business skills acquired during the BM6025-29 module at the University of Cumbria. It details the development of skills applicable both inside and outside the classroom, focusing on areas such as presentation, argumentation, and critical thinking. The report also explores key business concepts including leadership, marketing, and employability. A significant portion of the report is dedicated to identifying and evaluating the current challenges facing businesses in the UK, with a specific focus on Tesco, analyzing the impact of Brexit, construction permits, electricity connections, investor protection, taxation, cultural barriers, contract enforcement, access to loans, economic uncertainties, and complacency. The report utilizes academic research and real-world examples to provide a comprehensive overview of the challenges and their implications.
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Running Head: ACADEMIC SKILLS
0
Business and Academic Skills
Reflective Report
(Student details :)
7/7/2019
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Academic Skills
1
Contents
Abstract......................................................................................................................................2
Individual Reflective Report......................................................................................................3
Introduction................................................................................................................................3
Current challenges facing businesses in the UK........................................................................3
Brexit as a huge challenge......................................................................................................4
Construction permits and registering property.......................................................................5
Getting electricity connection................................................................................................5
Protecting investors................................................................................................................6
Paying taxes...........................................................................................................................6
Cultural barriers.....................................................................................................................6
Enforcing contracts and resolving insolvency.......................................................................6
Getting loans and credit.........................................................................................................7
The economic challenges.......................................................................................................7
Uncertainty.............................................................................................................................7
Complacency..........................................................................................................................7
Conclusion..................................................................................................................................7
References..................................................................................................................................8
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Abstract
The report is focused on reflecting on the learning acquired through studying module
BM6025-29 on business and academic skills. In this way, this discussion will demonstrate the
development of skills for contributing within many contexts including inside as well as
outside the classroom. In addition to that, the reflection will provide evidence of personal
growth and development from the acquisition of several transferable capabilities and skills.
The reflective report will contain both academic and business skills gained throughout the
module lectures and seminars.
On the other hand, this reflective report will also contain learning related to business topics
such as leadership and management, marketing, applying management models and theories,
human resources, starting a business and most importantly employability. In order to identify
recent challenges facing businesses within the UK, the reflective report is going to analyse
and evaluate one UK business named as Tesco.
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Individual Reflective Report
Introduction
This report is based on reflecting on the learning acquired through studying module BM6025-
29 on business and academic skills. The discussion will demonstrate the development of
skills for contributing within many contexts including inside as well as outside the classroom.
In addition to that, based on (University of Cumbria, 2019), the reflection will provide
evidence of personal growth and development from the acquisition of several transferable
capabilities and skills. The reflective report will contain both academic and business skills
gained throughout the module lectures and seminars. In this context, academic skills like
presentation skills, building arguments, paraphrasing, using statistical facts, finding credible
resources and many more have been learned by me (Drucker, 2012).
On the other hand, this reflective report will also contain learning related to business topics
such as leadership and management, marketing, applying management models and theories,
human resources, starting a business and most importantly employability. For identifying
current challenges facing businesses within the UK, the reflective report is going to analyse
as well as evaluate one UK business. To do so, the Company Tesco will be evaluated in a
way to identify how they responded to the above challenges. The Tesco is a British
multinational retailer of groceries and general merchandise headquarters at Welwyn Garden
City, UK. Besides, the company is the third-largest retailer in the whole world as measured
by gross revenues (Cavusgil et al., 2014). Moreover, it is also a ninth-largest retailer as
measured by its revenues. In this way, Tesco will be assessed from the current challenges
while doing business in the UK.
Current challenges facing businesses in the UK
Throughout the module, based on (University of Cumbria, 2019), student learned about many
aspects of the challenges faced by modern businesses in the UK. During the week I, learning
related to active learning, team-work, summary writing, and SWOT analysis along with
referencing conventions occurred. During week II, student learned about the gender pay gap,
peer feedback discussion, summary writing from multiple sources, PESTLE and visual data
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description so that student can apply all of them during future career development (Shenkar et
al., 2014).
Apart from this, learning during Week III included paragraph and argument development,
professional presentation, providing opinions, recruitment ideas and many more other
professional things. In this context, during Week IV a submission of the individual report has
been done by me while covering consumer behaviour, and many other academic learning
skills. Furthermore, post completing individual report writing student group learned about
research proposal, business canvas model, dissertation, results in a presentation in charts
form. Finally, Week VI lectures and seminars made me learn about addressing topics or
issues raised in tutorials on the topic of employability with the help of poster presentation. In
this week, student also learned about module feedback where the significance of the feedback
and appraisal was demonstrated by our tutors.
In order to demonstrate research as well as critical thinking skills for presenting research
findings within an effective and logical manner, student researched current challenges faced
by contemporary businesses in the UK (Halls, 2018).
Brexit as a huge challenge
Brexit is the biggest challenge for the businesses operating in the UK presently or attempting
to expand there. As per the research on the topic, student found that companies like HSBC,
Barclays, Honda, Moneygram are about to leave the UK because of Brexit (IPSOS, 2011). In
this context, out of all key challenges businesses are facing while operating in the UK Brexit
is the biggest one. In general, Brexit is the act of British exit from the European Union (EU).
When the UK’s decision about leaving the EU came out during June 2016 then so many
critical challenges arisen for the businesses in the UK. Although Britain has managed to avert
crashing out of the EU through extending the period of negotiation twice yet the new
deadline for the Brexit is now October 31, 2019 (Kenton, 2019). The reason why Brexit is
such a big deal for the businesses operating in the UK is that Europe is the major export
market of Britain as well as the largest source of foreign investments. In this way, the
announcement of Britain about leaving the EU is a threat for the several companies and hence
they all are thinking about reallocation. In addition, the economy of the UK has already been
affected by the Brexit announcement as the global companies are not looking for an
expansion in the region of the UK anymore. On the other hand, the companies who are
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already investing in their business in the UK are trying to withdraw their investment from UK
businesses (MUELLER , 2019).
In the context of businesses like Tesco, Brexit negotiation has the potential to affect the
company operations largely. As Britain will exit from the EU in October 2019 hence risks are
evolving huge for the Tesco operations in the UK from an economic perspective (Kenton,
2019). Student observed that if future trading relationships include trade barriers, then the
economy of the UK is probably to struggle for keeping pace with broader business growth
trends. In addition to that, Tesco is facing challenges due to Brexit announcement as the UK
presently reflecting easy trade norms all across the borders with the help of standard
procedures, prices and time as compared to their OECD counterparts (Kenton, 2019). In this
way, for companies like Tesco, getting customer’s clearance, preparing documents as well as
paying for the inland handling and transportation are the biggest challenges from the Brexit
aspect (Turban et al., 2010). Therefore, opinion about current challenges faced by the
contemporary businesses of the UK suggests that Tesco is facing Brexit deadline headaches
at a large extent. As researched by (BBC News, 2019), key challenges arising due to Bexit
for the Tesco’s business include uncertainty, less waste, and economic risks.
Apart from this, the research on the topic suggests that major challenges faced by businesses
while operating in the UK market are as follows:
Construction permits and registering property
After the Brexit implementation in the October 2019 challenges related to construction
permits as well as registering properties will arise for the businesses in the UK. When student
was reading more about this contemporary issue, then learner found that construction is
comparatively streamlined within the UK while taking around 100 days along with nine
simple procedures. In this context, for the businesses in the UK acquiring planning
permission from the authorities as well as getting sewerage and water connections already
takes a longer time, and contains the costly elements (Hill, 2008). After knowing this, the
knowledge and critical analysis are suggesting that Tesco and any other company which is
aiming to expand in the UK is going to face challenges related to registration and
construction permits (Kenton, 2019).
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Getting electricity connection
For new businesses expanding in the UK, getting electricity connections is also a huge
challenge and after October 2019 it is going to become more complex for global companies
(IPSOS, 2011). Learner researched and found that UK power networks usually handle
electricity connections and they take up to more than 100 days for completing proceedings
(Tung, 2008). Leader found that getting electricity connection done includes obtaining
inspections, submitting plans, and waiting for the external connection works hence it is also a
kind of challenge for the small businesses in the UK.
Protecting investors
Learners also realized that protecting investors in the UK is not as easy as solid treaties and
robust financial environment investors require to be protected in the UK for sustainable
business growth. Tesco’s profit is increasing day-by-day yet CEO of the company; Dave
Lewis expressed worries on Brexit’s influence on Tesco’s investors in the UK (Cavusgil et
al., 2014).
Paying taxes
Based on research conducted on the chosen topic, the businesses are not facing major
challenges in the context of paying taxes. In addition, the EU offers relaxation from paying
high taxes to the businesses operating in the UK (Buckley & Ghauri, 2015). After the Brexit
announcement, it is clear that paying taxes has become a big challenge for UK businesses. In
the context of Tesco, it can be said that the UK tax system is tricky as the country’s legal
system is in a piecemeal manner. In this way, for the businesses functioning in the UK having
national tax support is crucial (Aycan et al., 2013).
Cultural barriers
Learner read a lot about cultural competence and cultural barriers in the context of businesses
in the UK. Hence, learner identified cultural barriers as the current challenge facing
businesses in the region of the UK (Enterslice, 2017). Learner also analyzed Tesco business
and hence evaluate how Tesco has responded to the cultural barriers. According to me,
cultural diversity related challenges include language differences, language literacy, gender
gap, diverse consumer behaviors, and the difference in opinions and beliefs (Tung, 2008).
Likewise, the company Tesco is also facing the above-mentioned challenges presently which
need to be addressed well.
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Enforcing contracts and resolving insolvency
To me, enforcing contracts as well as resolving insolvency both are the challenges facing
businesses in the UK. The reason behind is that these processes are relatively seamless
because of the developed nature of the UK legal system (Ulmer et al., 2013). Learner also
found that it takes more than 440 days for enforcing a contract and a year for resolving
insolvency which again poses challenges for the operational businesses of the UK (Halls,
2018).
Getting loans and credit
As per the findings of personal research based on the academic journal, recent news articles,
and books, presently the UK is leading in terms of ease of getting credit and loans. However,
this robust financial sector along with the diversified nature of acquiring credit is falling
down because of Brexit announcement of Britain (Government of Neitherlands, 2019).
The economic challenges
As narrated by (IPSOS, 2011), Learner found that there are huge economic challenges are
arising for the companies working in the UK because of several factors like increased
competition, GDP rates, EU guidelines, and Brexit.
Uncertainty
In this context, research findings are suggesting that dealing with uncertainty is another
critical challenge facing modern businesses in the UK. Student also realized that whether it is
economic uncertainty or political one, challenges will always need to be addressed by the UK
businesses (Drucker, 2012).
Complacency
Student found that uncertainty is having a strong link to complacency as it is the biggest risk
to the successful businesses these days. In addition to that, I think all the businesses including
those who are functioning in the UK go through a cycle of experimentation, idea,
exploitation, new idea and this cycle repeat hence complacency seemed a huge challenge
faced by the current businesses of the UK (Buckley & Ghauri, 2015).
Conclusion
In conclusion, with the help of this reflective report, I demonstrated skills like critical
engagement, academic skills and language control within a discussion format. I identified
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many of the current challenges facing businesses within the UK. In this context, this report
has analysed one UK business of Tesco Company successfully. To do so, I evaluated and
used all of the business and academic skills acquired throughout the module to find how
companies like Tesco responds to identified business challenges in the UK. Moreover, this
reflective report writing has helped me to learn good control and range of language suitable
to particular subjects. I learned to be logical while generating an effective report structure
with the help of development as well as an effective illustration of the ideas. I also learned
good research skills such as collecting data, analysis, sourcing texts, citation and referencing
as well. In this way, reflective report writing has successfully demonstrated the current
challenges faced by UK businesses while teaching me critical thinking and reflection skills
for the future professional development.
References
Aycan, Z. et al., 2013. Convergence and divergence of paternalistic leadership: A cross-
cultural investigation of prototypes. Journal of International Business Studies, 44(9), pp.962-
69.
BBC News, 2019. Tesco faces Brexit deadline headache. [Online] Available at:
https://www.bbc.com/news/business-48844351 [Accessed 07 July 2019].
Buckley, P. & Ghauri, P., 2015. International business strategy: theory and practice.
London: Routledge.
Cavusgil, S.T. et al., 2014. International business. Australia: Pearson.
Drucker, P., 2012. Management challenges for the 21st century. London: Routledge.
Enterslice, 2017. Introduction and Types of International Business Environment (IBE).
[Online] Available at: https://enterslice.com/learning/international-business-environment-ibe/
[Accessed 02 December 2018].
Government of Neitherlands, 2019. What is Brexit? [Online] Available at:
https://www.government.nl/topics/brexit/question-and-answer/what-is-brexit [Accessed 07
July 2019].
Halls, A., 2018. The 3 Biggest Challenges for UK Businesses in 2018. [Online] Available at:
https://weareive.org/3-biggest-challenges-uk-businesses-2018/ [Accessed 07 July 2019].
Hill, C., 2008. International business: Competing in the global market place. Strategic
Direction, 24(9).
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IPSOS, 2011. The economic challenges facing UK business. [Online] Available at:
https://www.ipsos.com/ipsos-mori/en-uk/economic-challenges-facing-uk-business [Accessed
07 July 2019].
Kenton, W., 2019. Brexit. [Online] Available at:
https://www.investopedia.com/terms/b/brexit.asp [Accessed 07 July 2019].
MUELLER , , 2019. What Is Brexit? A Simple Guide to. [Online] Available at:
https://www.nytimes.com/interactive/2019/world/europe/what-is-brexit.html [Accessed 07
July 2019].
Shenkar, O., Luo, Y. & Chi, T., 2014. International business. London: Routledge.
Tung, R.L., 2008. The cross-cultural research imperative: The need to balance cross-national
and intra-national diversity. Journal of International Business Studies, 39(1), pp.41-46.
Turban, E., Sharda, R. & Delen, D., 2010. Decision Support and Business Intelligence
Systems. UK: Google Scholar.
Ulmer, R., Sellnow, T. & Seeger, M., 2013. Effective crisis communication: Moving from
crisis to opportunity. UK: Sage PUblications.
University of Cumbria, 2019. Rolfe et al.’s (2001) reflective model. [Online] Available at:
https://my.cumbria.ac.uk/media/MyCumbria/Documents/ReflectiveModelRolfe.pdf.
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