Enterprise Creation: Reflective Journal and Action Plan Assignment

This document presents a reflective journal and action plan related to an enterprise creation module. It covers weekly reflections on various aspects of building a business, from collecting market information and setting business objectives to developing a marketing plan and conducting PESTEL and Porter's Five Forces analyses. The journal entries detail the student's feelings, learnings, and challenges encountered each week. Key topics include stakeholder management, team training needs, management team development, market research, customer analysis, and financial planning. The document concludes with a personal action plan outlining goals, required actions, resources, and timelines for improving communication, presentation, and market research skills. Desklib provides access to similar solved assignments and resources for students.

Enterprise Creation - Reflective Journal and Action Plan
WEEK 2 (First Teaching Week)
What happened?
Collecting information on the business concept and its practical market potential in the UK.
How did I feel about it?
Collecting necessary information on the farm to fork concept as well as the popularity of healthy and tasty organic products was a remarkable learning
experience in itself. with the help of this week I felt having the knowledge relating to business concept is very important and market potential assist in
developing the knowledge relating to the current trends being prevalent in market.
What did I learn from it?
I have learned how to filter information and include or exclude sources of information to be used in the business project. With this I increased my skill
relating to practical knowledge of market and this assisted me in developing my decision making skills.
WEEK 3
What happened?
Business objectives for Farm to Fork were set in this week. These objectives are in line with the research done in the previous week.
How did I feel about it?
I felt excited and was intrigued to set business mission and vision for the business.
What did I learn from it?

The Farm to Fork concept will be a hit in the UK as people want healthy and tasty food at affordable prices. Further with this I learnt that the setting
the mission and vision is very important in order to provide a base to the company for development of the business.
WEEK 4
What happened?
The business operations for Farm to Fork were discussed and examined in the course of this week.
How did I feel about it?
It was a little challenging to set operations procedures and systems but the use of appropriate models and frameworks made it convenient. this
challenge was because the operational process involves many different activities and tools and in case any technique will not be working in proper
manner then this can affect the working to a great extent.
What did I learn from it?
Operations are central to keeping the business up and running. with this I learnt the critical analysis of every alternate is important in order to ensure
that best method is being selected for the operational process of company.
WEEK 5
What happened?
The key stakeholders of Farm to Fork were identified and the priorities were set effectively.
How did I feel about it?
It was a little challenging to identify all the external stakeholders and prioritise them accordingly. but with this I also learnt that there are many
different stakeholders who are interested in the growth and development of business.

What did I learn from it?
Stakeholder management is very important in terms of effective business management and success. with this I learnt that having proper knowledge of
prioritising is very important in order to analyse the meet the need of all stakeholders.
WEEK 6
What happened?
The training needs of the teams were analysed and actions suggested.
How did I feel about it?
It was one of the most vital and interesting components of the experience. with the help of this I learnt that training is very important as there are
many different changes being taking place within the external environment and this need to be managed in proper and effective manner.
What did I learn from it?
Effective learning, training and development is vital for the managers and employees to perform effectively. With this I learnt that there are different
training and development methods and appropriate method need to be used so that proper working can be ensured. further I also analysed that the
analysis of the various training methods and tool will be assisting in improving the working efficiency of the company and the employees as well.
WEEK 7
What happened?
The management team was developed and roles assigned.

How did I feel about it?
It was educative and interesting. With this I felt that success of the company is totally dependent over the management team being developed. this is
because of the reason that when the management team will be good then proper working will be done and objectives will be attained .
What did I learn from it?
The management leads teams and sets the business running. With this I learnt the skill of proper selection of the right candidate. This is because of the
reason that when proper team will be created the this will be improving the working efficiency. Also I learnt the collaboration and team working is
very important for the business to get successful. this is very necessary for the reason that when team will work together then this will improve the
working efficiency of the company to a great extent and will be improving the profitability as well.
WEEK 8
What happened?
The marketing plan was developed for Farm to Fork.
How did I feel about it?
It was very educative and enlightening for me. with this I felt that marketing is a technique which is very important for the company to work and
improve the profitability to a great extent.
What did I learn from it?
Market research is vital for effective strategy development and deployment. further I learnt that having proper knowledge relating to the marketing is
very important. this is because of the reason that it improves the working efficiency and knowledge of the product and services to the customers and
ultimately this increases the profits of the company.
WEEK 9

What happened?
The PESTEL analysis was done.
How did I feel about it?
I was surprised to see how these external factors influence business decisions. With this I learnt that the external environment affects the business and
its working to a great extent. further I felt that analysis of external factor is essential for the reason that business exist in external environment and in
case the changes will be ignored then this will be affecting the working efficiency of the company to a great extent.
What did I learn from it?
The PESTEL factors need to be considered adequately for effective business decision making. further I learnt that before finalising any of the decision it
is very important to consider each and every aspect of external environment and then finalise the strategy and to take the decision.
WEEK 10
What happened?
The Porter’s Five Force analysis was done.
How did I feel about it?
It was interesting and educative. with this I felt that analysis of the competitor and the industry position is also very important for company to remain
competitive.
What did I learn from it?
The five forces determine the competitive position of the business. with this I learnt that analysing the performance of industry is very important in
order to improve the working efficiency of the company.

WEEK 11
What happened?
The customers and trends were analysed
How did I feel about it?
It was a little challenging but very intriguing. the challenge faced during this week was that analysing the need and trend of the consumer is very tough
task as there are many different types of the trend and it need to be analysed in proper and effective manner.
What did I learn from it?
Customers’ needs and preferences need to be understood and catered to. with this I learnt that customer is the one which is the most crucial part for
the success of the company. this is because when the consumer need and requirement will not be referred then this will be affecting the working of
the company to a great extent.
WEEK 12
What happened?
The market STP was done
How did I feel about it?
It was educating and interesting. with this I felt that when the target is decided in advance then it provides much better base to company to decide
and make the strategies.

What did I learn from it?
Forming effective STP strategies was indispensable for business success. With this I learnt that the setting of the target in advance is very important in
order to evaluate the target market so that all the strategies are focused on that target only.
WEEK 13
What happened?
Planning the marketing mix
How did I feel about it?
It was important to understand the frameworks and theories. with this I felt that the analysis of the marketing mix is very important as it provides
better base to take the decision for the marketing of the product and services of company.
What did I learn from it?
The marketing mix determines marketing success for products. With this I learnt that the selection of appropriate marketing mix is very important in
order to make the working and promotion of the goods and services in proper and effective manner.
WEEK 14
What happened?
Financial plan was made
How did I feel about it?
It was quite stressful and engaging. The major challenge faced during this event was that deciding on the budget and other financials as it provides a
base to the company for future development.

What did I learn from it?
Managing the finances is vital for sustained business growth. with this I learnt that this financial plan will provide a base to the company that how they
have to manage all the finance in proper and effective manner.
WEEK 15
What happened?
The business plan presentation was provided
How did I feel about it?
It was really interesting and engaging. the challenge faced during this was that during the presentation I was very nervous and this affected the
presentation skills to a great extent.
What did I learn from it?
Presentation skills were learnt as while giving presentation much issues were faced and this affected the working of the company to a great extent.
Comment on the process of reflecting on your experience within the Module
How useful was it?
It was very useful as reflective learning helps understand own performance and provided insights for improvement.
What did I learn from it?
Research skills, presentation skills, theoretical and writing skills. along with this knowledge relating to deciding for target market, marketing mix
decisions, deciding of the financial plan and other is very essential for the development of the business plan.
Personal Action Plan (NOTE: Objectives should be linked to areas for development identified in Journal)

Goal Actions Required Resources Timescale Evidence
1 Skills relating to
communication
2 Presentation skills
3 Market research skills
Action requires
participating within group
discussion
Make PPT and undertake
orientation courses
Learn how to use market
research tools
Attending
seminars and
university
training
program
University
presentations
and lectures
Working in
mock
projects
1 Week
1 Week
1 Week
Giving the
completion
certificate of
completion
Giving the
certificate of
completion of
the course
Course
certificate
completion is to
be provided.