Capstone Project Diary: Individual Reflections on Capstone Project 1

This assignment is a capstone project diary documenting a student's reflections on the Capstone Project 1 course over 13 weeks. The diary entries detail the student's experiences, including initial introductions to the capstone project concept, discussions on the SCAMMPERR model, group formation, and the development of a business plan. The diary highlights key learning points such as market research, situational analysis, business strategy, and financial planning. The student reflects on challenges faced, such as differing perspectives within the team and a lack of knowledge about certain techniques, and how they overcame them. The diary also covers the creation of a strategic business plan, report writing, and presentation preparation. Each entry provides an overview of the class experience, the topics covered, activities undertaken, and the student's key takeaways. The diary concludes with a presentation of the project and overall reflections on the course. The document includes a list of references used throughout the project.

[School]
[Course title]
[Document subtitle]

Diary
Class-1
In the first-class lecture, I came to know about the concept of a Capstone project. My lecturer explained
very interesting points about the capstone project with the use of various examples during the first class
which I really liked and also want to learn more about it. Moreover, I felt encouraged and very excited
about the capstone project on which I have worked in the future. I have also discussed my first-class
experience with one of my friends after the class ends.
Class-2
In this class, the concept of SCAMMPERR model (Substitute, combine, adapt, magnify, modify, put to
another use, eliminate, rearrange and reverse) has represented by the professor by using suitable case study
examples. Moreover, I have thoroughly studied each and every aspect of SCAMMPERR’s model on the
basis of “Orange Juice” example. Multiple ideas have been discussed in the class for solving a case study
problem.
Class-3
A group has formed in this class as per the instructions provided by the lecturer. The name of our group is
09. We have preferred to work on model A as a part of our academic project work. We worked
collaboratively with each other and wrote a business plan for the project. After that, the business canvas
model has been created for an allocated business type. We have started to work on idea generation for the
capstone project this week.
Class-4
I have learned that importance of market research to understand a number of key challenges such as
government requirements, product changes, consumer demand, market trends, and dynamics. The market
analysis of Australian earbud market has performed which helped me to properly analyze the market size
and customer preferences. During this week, my team has faced some problems due to the different
perspectives of each member in context to ear bug market segment.
Class-5
I have reviewed the selected problem in context to “Earo Security” along with the proposed solutions in this
week. In order to study the selected business problem properly, I have conducted thorough research with the
collaboration of all group members. We have surfed various online resources to capture information about
new secure earbud technologies like smart earbuds that can be recommended to the case study company
(PRED Technologies, 2019).
Class-6
We have reviewed the selected problem at this stage for planning the tasks that will be executed during the
project life cycle. We performed a situational analysis to understand key Australian earbuds market trends. I
faced difficulties due to lack of knowledge about the situation analysis technique. To overcome these
difficulties, I have reviewed a few reputable articles which present a proper way for strategic situation
analysis (Blackwell, 2014).
Class-7

I have learned the concept of business strategy including its three levels (functional level, business level, and
corporate level). In week-7, I have actively participated in the “tallest structure building” activity with my
group members. After that, a small class discussion was conducted to discuss time constraints, type of task,
project goals, success factors, team resources, project challenges and solutions in detail.
Class-8
In this week, I have prepared a strategic business plan for the project. Steps followed to prepare a strategic
plan
 Plan the report
 Specify the team progress
 Writing
 Write executive summary
 Report editing
 Send the final report draft to all group members for review
 Receive suggestions and comments
 Finalize final report
All group members were provided with an opportunity to sit down for discussing the final format of the
report.
Class-9
From this lecture, I came to know about the critical issues associated with financing for start-up companies.
I have developed a pricing strategy for the selected business including monthly expenses. Initially, it was
challenging for the group to finalize the product pricing strategy. I have reviewed some online resources to
clear our doubts related to pricing strategy and pricing models in market research during this week (Sammut-
Bonnici and Channon, 2015).
Class-10
I have learned the concept of the strategic business plan along with different stages that will help me to write
an effective report. As an outcome of this week, I have thoroughly understood the project report brief. My
experience from this class was really good as I have learned a lot about the development of a strategic
business plan. Along with this, I have also explored some other resources related to the strategic business
plan to enhance my knowledge (Teece, 2010).
Class-11
I have conducted a discussion session and finalized a strategic business plan. In this class, I have started
working on report writing task by considering key instructions provided by the lecturer. I have experienced
some problems some issues at the initial stage of report writing which have been solved by watching some
YouTube videos named as
1. How to create your strategic plan (SME Strategy Consulting, 2017)
2. Strategic Plan Template (Crowther, 2010)
3. How to Effectively Communicate Your Strategy (virtualstrategist, 2012)
Class-12

In this week, I have successfully completed the strategic business plan writing work. I have conducted a
meeting with all team members to identify the weaknesses of the report. I have made modifications in the
final report as per the suggestions provided by all team members (Olsen, 2019). We enjoyed a lot when
working in a group. All team members were helped me a lot during this project work.
Class-13
It is the last class in which I have prepared my presentation about the capstone project on which I worked on
in the previous classes. My class experience was really good and I have learned various aspects of the
capstone project. All my group members encouraged me during the class presentation and we all worked
hard which resulted in the successful completion of the project.
References
 Blackwell, D. (2014). An Approach to Strategic Situation Analysis: Using Models as Analytical
Tools Dr. [online] Jgbm.org. Available at: http://www.jgbm.org/page/9%20Dianne%20Eppler.pdf
[Accessed 30 May 2019].
 Sammut-Bonnici, T. and Channon, D. (2015). Wiley Encyclopedia of Management.
 Technologies, P. (2019). Smart Wireless Earbuds - Pred Technologies - light with secure-fit wing
tips. [online] Tokk | Pred Technologies. Available at: https://tokktech.com/smart-wireless-earbuds-3-
2/ [Accessed 30 May 2019].
 Teece, D. (2010). Business Models, Business Strategy and Innovation. Long Range Planning, 43(2-
3), pp.172-194.
 SME Strategy Consulting (2017). How to create your strategic plan. [video] Available at:
https://www.youtube.com/watch?v=_Q5VwDCpszY [Accessed 30 May 2019].
 Crowther, D. (2010). Strategic Plan Template. [video] Available at:
https://www.youtube.com/watch?v=MlxJIsjussc [Accessed 30 May 2019].
 Olsen, E. (2019). Strategy Reviews vs. Operational Reviews - dummies. [online] dummies. Available
at: https://www.dummies.com/business/business-strategy/strategy-reviews-vs-operational-reviews/
[Accessed 30 May 2019].
 virtualstrategist (2012). How to Effectively Communicate Your Strategy. [video] Available at:
https://www.youtube.com/watch?v=9XXmT5Bms6k [Accessed 30 May 2019].