Reflection Report: Impact of Corporate Governance on UK Supermarkets

This report is a reflection account developed for the HR7004 Mental Wealth module, focusing on the impact of corporate governance and Big 4 audits on the financial performance of the UK supermarket industry. The student used the Gibbs reflective cycle to analyze their experiences, feelings, evaluations, conclusions, and proposed actions. The module involved developing a poster presentation based on secondary research, exploring the influence of corporate governance and audit firms on market leaders and competitors. The student reflects on the challenges of forming hypotheses, selecting methodologies, and the positive aspects of skill development and knowledge gained. The report concludes with suggestions for improvement, including the use of primary data collection and more detailed presentation of results. Overall, the reflection highlights the student's learning journey and insights from the module.

Reflection

Contents
Reflection Account..........................................................................................................................1
Description...................................................................................................................................1
Feelings........................................................................................................................................1
Evaluation....................................................................................................................................2
Conclusions..................................................................................................................................2
Action..........................................................................................................................................3

Reflection Account
In this report, reflection account has been developed for the module. In this report,
experiences and feelings of investigator will be reflected. This reflection account will be
developed below using gibbs reflective cycle. This model will help in reflecting over each and
every aspect which has been experienced. The elements which are included below are associated
with this reflection cycle and these are description, feelings, evaluation, conclusions and action.
Description
The module which has been developed is HR7004; this module is based on the topic
Mental wealth. In the perspective of this module, mental wealth refers to the power and
importance of knowledge which helps in developing certain abilities and skills. This module is
developed by selecting a specific topic which was “THE IMPACT OF CORPORATE
GOVERNANCE AND BIG 4 AUDIT ON THE FINANCIAL PERFORMANCE OF UK
SUPERMARKET INDUSTRY”. Related to this topic, few objectives and hypothesis were
developed and then an investigation was developed including methodology, results and
conclusion section in order to fulfil those objectives and test those hypotheses. The module was
developed by using secondary method of research in which secondary data sources such as books
and journals were used. Along with this, the methodology of mixed method was used in order to
ensure that the results must be based on both qualitative and quantitative information. This
module helps me in satisfying my research objectives which were related to the corporate
governance concept and big 4 audit firms. Both of these variables were regarded as independent
variables and their impact was analysed on the Super market industry of United Kingdom along
with evaluating the values of this variable which were large market leaders and small
competitors.
Overall, this module can be described as an opportunity which helped in analysing the
concept of mental wealth with the help of a topic which is rich in both qualitative and
quantitative aspects.
Feelings
At the time of developing the module, there were various feelings which were experienced
by me and it is appropriate to say that these feelings impacted my work at a certain extent. There
were both positive and negative feelings and considering this, I can state that my experience of
1

developing this module was filled with mix feelings. At the beginning of this module, we were
asked to develop a poster that will be developed including an investigation based on the selected
topic. I find it quite difficult at the beginning to sort all objectives and hypothesis out so that a
base of the research can be developed. This beginning period resulted into nervousness and
developed a lack of confidence in me which lead my thoughts towards the conclusion that I will
not be able to complete this project, but once the objectives and hypothesis were developed, my
feelings were changed as a sense of confidence was re build in me that encouraged me to
develop this poster presentation effectively.
Whenever I felt that I am going in wrong direction, I consulted with my mentor and a
viable solution was given to me due to which my experience of developing this module is overall
positive with few bits of struggle.
Evaluation
My experience of developing this module includes both positive and negative elements.
The negative elements include the difficulty at the time of developing hypothesis and mould
them into a conceptual framework. At that moment, I decided to take help from my peers and
friends who helped me to direct in a correct leading way which resulted in developed a suitable
proposal for my poster investigation. The negative aspect of developing this module can even
include the selection of methodology. An investigation is said to be undertaken by using the
methods which were selected in research methodology. Considering this statement, I was aware
that this section can make or break my module experience due to which I found it way too
difficult to select an appropriate method for conducting the investigation.
Along with the negative aspects discussed above, there were several positive elements as
well. The most important positive element was the development of my skill set. By developing a
poster presentation in power point, my skills to work using Microsoft power point enhanced and
I learned to effective present and visualise my content. Besides this my knowledge regarding
corporate governance and big 4 auditing firm also increased and I now I have better
understanding about how external aspects impacts the financial performance of an entire industry
which in this case was super market industry of United Kingdom.
Conclusions
According to me, I think I have given my best to develop this module but yet there are few
elements which I could have included in my module work. I have collected the information from
2

secondary sources which somewhere not effectively justify my hypothesis and these hypotheses
would have been tested with more accuracy if they were checked using primary data. There is
another element which I think in could have included in my work and that is presenting the
results using tables and bullet points as by that way my presentation would have looked more
presentable and it would have been reflected better looking outcomes which are understandable
quickly.
Action
There are various changes that I would have implemented if I were given a chance to
develop this module again. The first thing which I would have do is to selected primary data
collection as the technique of collected data as this would have not only make my work better
but by collecting primary data using a tool of interview would have also improved my
communication skills and interpersonal skills.
In any case when in given an additional chance to develop this module, I will make sure
that the results section will have more tabular information. I would also like to include more
materials that can include information gathered from not only books and journals but also from
newspaper articles and webpages.
3