Business Strategy Reflective Journal: Learning and Leadership Skills

This reflective journal provides a detailed analysis of business strategy concepts, focusing on the application of the business canvas model. The student reflects on their learning from in-class activities, such as team leadership exercises, and the insights gained from online resources like journal ar...Read More

REFLECTIVE JOURNAL

Table of Contents
INTRODUCTION...........................................................................................................................3
MAIN BODY...................................................................................................................................3
1. Description on business strategy and reflection on learning as per the chosen theory in
workplace....................................................................................................................................3
2. Define in-class activity. Description on what did you learn from participating in that
activity.........................................................................................................................................4
3. Explain online resources such as in-class videos, journal articles in business strategy..........5
4. Identification on areas that needs to improve to be an effective strategic leaders. Provide
example of one area that needs to improve. ...............................................................................5
CONCLUSION................................................................................................................................7
REFERENCES................................................................................................................................8

INTRODUCTION
Business strategy defined as course of action and set of strategic statements. It assist the
entrepreneurs to meet out the goals, expectation of customers and to sustain long term
competitive advantage in marketplace (Landoni, Dell’era and Manelli, 2019).
The present report is based on to write critical reflection on business strategy theory that
have learnt. Furthermore, assignment will cover the learning of in-class activities, online
resources that have accessed relate with this theory. Lastly, assignment will identify the barriers
to be an effective strategic leader.
MAIN BODY
1. Description on business strategy and reflection on learning as per the chosen theory in
workplace.
Business strategy defined as set of competitive moves and action that assist to attract
customers, strengthening the performance and compete successfully (Tardio and et.al., 2019). To
have effective business strategy, I have learnt the beneficial aspect of Business canvas model as
this is tool that aids to understand business model within straightforward and structured mode.
Henceforth, the performance of an enterprise can be improved with use of business canvas
model. This is one of theory that aids to fine tune its value proposition and structurally bring
improvement in its strategy. Thus, its defined in following manner as are-
 Key partners- I must say that this is theory that aids to create alliance for both start up
and existing enterprise. This theory has helped me to learnt together with combining all
knowledge and specialisation.
 Key activities- I have performed various task and this leads me to build better
understanding about the value proposition. This theory has led me to focus over problem
solving approach, quality of commodities and networking. With use of this theory, I
became able to develop better relationship with customers.
 Key resources- It can be categorised as physical, financial, human or financial resource.
This has helped me to learn about key resources that creates streamlined operational
efficiency (Landoni, Dell’era and Manelli, 2019). I have learnt about the management
of organisational resources that refer as to proper utilisation of assets, human,
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information and financial resource. Proper utilisation of resources aids to improve
productivity hence result.
 Value proposition- The main core of company is to meet out the needs of customer. I
have learnt that enterprise needs to put major focus over price, service, delivery
conditions and speed. This all lead to gain competitive advancement. However, I
understood that quality, design of commodity, brand status and customer experience
plays crucial role.
 Customer relationship- This is essential term that allows to interact with customers. I
have learn that relationship with customer aids to bring long term competitive
advancement. Thus, it has helped me to undertake the analysis on needs and wants of
customers.
 Channels- An enterprise deals with distribution, communications and sales channels. I
understood that in an enterprise it is crucial to aware about product, purchase, evaluation
& satisfaction and delivery after sales. Thus, better use of channels aids to streamline
operational efficiency of enterprise.
 Customer segments- I have learnt that segmentation of customer aids to identify the
specific needs and requirements of each group. It can lead to greater customer satisfaction
and helps to have better value proposition.
 Cost structures- By understanding about the cost structures and enterprise will know
that what will be the minimum turnover to make profit. I have ascertained that cost
structure's mainly considers the economies of scale, variable cost and profit advantages.
 Revenue streams- This theory has helped me to learn about the needs of revenue model
within enterprise. However, revenue model are cost drivers and this has learnt me to
analyse the break even point from sales of good, subscription fees, advertising and
sponsoring etc.
Henceforth, it can be concluded that in my learning practices I have learnt the importance
of business Strategy with application of business canvas model. This has helped me to develop
the core efficiency and helped me to improve my skills and knowledge efficiency.
2. Define in-class activity. Description on what did you learn from participating in that activity.
I have participated in class activity at time of management course. In this, I had assign the
role of team leading and my task was to accomplish the sales target within a month. Therefore,
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this has helped me to learn various aspect of managing activities and to maintain collaboration
within team members. This activities has helped me to learn about management practices that
aids to create positive workforce (Ramdani, Primiana and Azis, 2018). It has helped me to gain
depth learning about team managerial activities. Also, I have improved my ability to administer
and coordinate group of individuals to perform task.
This task has helped me to learn process of planning, testing, tracking and reporting.
Earlier, I was not effective in multitasking and making interaction with task members. Therefore,
this task has given me opportunity to develop communication with team members. Thus, I have
checked out my flaws that was barricading my growth from so long. Although, this activities led
me to develop team management, time management, communication and collaboration skills.
3. Explain online resources such as in-class videos, journal articles in business strategy.
I have used resources as journal articles and this led me to gain depth insights about the
use of business strategy. I went through number of articles, books etc. Thus, this has helped me
to develop depth insights about the use of business strategy and assist to gain competitive
advancement. I have accessed to number of journal articles of different authors on concept of
business strategy and contribution of it within enterprise. This has helped me to clear the concept
of business strategy and with use of right knowledge in correct way aids me to run business more
efficiently. By accessing the journal articles, I came to know about five core strategies that assist
to improve organisational effectiveness as are-
 To make the use of Human resource.
 To consider education and growth.
 To keep the customers on first priority.
 To perform the work practices on quality services or products.
 To have better use of technical advancement to create improved work performance.
4. Identification on areas that needs to improve to be an effective strategic leaders. Provide
example of one area that needs to improve.
Effective strategic leader maintains the company culture that values the transparency and
data driven objects. Therefore, strategic leadership has ability to influence other to make decision
and perform business task effectively (Important Strategic Planning Skills for Workplace
Success, 2019). However, it has been identified that the need of customer and organisation are
changing at the speed of technology and this enhanced the diversity. In order to be the effective
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strategic leader, the skill of an individual needs to be improved as are analytical, communication,
leadership and problem solving etc.
Henceforth, strategic leaders takes an active role in company and acts as to deliver driver
to steer down the right path for success. Therefore, strategic leaders must know about how to
guide employees to make decision and they must have idea that how to respond creatively when
obstacles arise. Thus, strategic leader needs to improve their leadership skill as this leads to bring
higher workplace satisfaction as happier employee naturally wants to do better work and this
assist to improve the productivity. Additionally, strategic planners must choose course of action
to assist firm to accomplish its goals without constant doubts and overthought.
Thus, strategic leader has responsibility to lead subordinates, supervisors and peers
towards common objective. Flexibility, interpersonal, management and motivational are the core
factors that leads to perform the task effectively. They must undertake business activities by
bringing up the team members and stakeholders together. It is crucial to build string
communication skill, follow-up communication, regular outreach the each activity of an
individual. To be an effective strategic leader, the individual must be effective influencer and
must have versatility in selection. However, to have effective performance the area that needs to
improve as- :
Area needs to be improved Strategic action Timeline
Analytical skill Be observant- leader must
interact and observe people in
office. By observing what
happening around leads to
perform better business
activities.
To analyse the right way to
conduct practices.
The leader must have better
and effective problem solving
skills that must have specific
solution to each problem. It
can lead to undertake better
Within 2 to 3 week.
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decision and improve the
productivity of the enterprise.
CONCLUSION
Hereby, it can be concluded that strategic planning defined as systematic and attractive
process that aids to set an ambition for business future and determine how to accomplish it. It is
all about the choices that makes business to improve and sustain position in market.
The present report is based on business activities of business strategy and reflection on
learning on theory that have learnt. Furthermore, it also covered the In-class activities and what
has learnt during the participation. Lastly, areas has been defined that aids to improve to be an
effective strategic leader.
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REFERENCES
Books and Journals
Landoni, P., Dell’era, C. and Manelli, L., 2019. Business model innovation in cultural and
creative industries: Insights from three leading mobile gaming firms. Technovation.
Tardio, M. and et.al., 2019. An Innovative Business Model to provide Services to Distribution
Companies through an Automatic Meter Reading System.
Landoni, P., Dell’era, C. and Manelli, L., 2019. Business model innovation in cultural and
creative industries: Insights from three leading mobile gaming firms. Technovation.
Ramdani, D., Primiana, I. and Azis, Y., 2018. Business Growth Strategy: Collaboration-
Literature Review. Sustainable Collaboration in Business, Technology, Information and
Innovation (SCBTII). 1(1).
Online
Important Strategic Planning Skills for Workplace Success. 2019. [Online] Available
through:<https://www.thebalancecareers.com/list-of-strategic-planning-skills-2063771>
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