Individual Reflection: Improving Business Plans Through Team Review

This report is an individual reflection based on a team-on-team review of a business plan presentation. Team A presented a business plan for a laundry service to Team B, who provided feedback. The reflection focuses on the strengths and weaknesses identified in the feedback, particularly the lack of achievable goals, SMART objectives, and market competition information. Strengths included presentation style and logical flow, indicating good team coordination. The reflection emphasizes the need for specific objectives, better information sharing, thorough market research, and incorporating financial, resource, and timeframe estimations in future business plans. The author acknowledges the value of collaborative work and learning from successful presentations, aiming to improve the quality and reliability of future business planning projects. This document is available on Desklib, a platform offering a variety of study tools for students.

Running head: INDIVIDUAL REFLECTION
Individual reflection based on the Team-on-Team review
Name of the Student
Name of the University
Author note

1INDIVIDUAL REFLECTION
Out team (Team A) presented a project plan to the Team B, which was a business
plan including the current analysis of the business and forming future goal to increase the
business performance. After presentation Team B provided us a set of feedbacks from that we
understood the strength and weakness of our presentation as well as the opportunities to
improve the business plan. The purpose of this paper is to reflect on those strength and
weakness identified from the feedback while making decision to increase our ability to
present a valid, reliable and effective business plan in future.
In the presented business plan we have presented a new business plan for opening a
new Laundry services fabric, for student. The aim of our project was to support the
applicability of the proposed business by considering that a large number of students unable
to wash their cloths due to work and collage schedule and very less number of laundry
businesses around. The business plan was proposed a laundry business for 24/7 hour service
in reasonable price, to make the profitability high. On this project plan the member of Team
B provided their feedback through analysing the presentation critically.
According to the feedback of the team B, it has been found that the business plan
presented by us had lack of achievable goal or targets. One of the major criteria of an
appropriate business plan is that it should have an achievable target, which will lead a project
to a feasible direction. From the feedback it was also found that the business plan also had
lack of SMART objectives. As per the definition, the SMART objective implies that each
objective has to be specific, measurable, Attainable, Realistic and Timely framed (Dibrell,
Craig and Neubaum 2014). The feedback suggests that the proposed business plan could be
more specific an timely. On the other hand, we cannot deny the fact that our business project
lacks a numerical presentation of target profit margin and analysis of break even analysis.
The break point provides business plan the minimum target set for their service providing so
that they will not face unexpected loss (Fulmer 2015). Similarly, our presentation of

2INDIVIDUAL REFLECTION
objectives was not structured enough with proper timeframe, which also reduced the
reliability of the business plan. Another weakness of our business plan was it did not have
enough information about market competition and demand. The information can lead a
business towards a profitable change. Therefore, if we fail to collect adequate data and
information on the target market the chances of making the business pan effective will be
very low.
Along with many weaknesses there was strength in our presentation, which was the
presentation style and the logical flow. Therefore, from this feedback it can be interpreted
that we have a strong coordination and collaboration on our team that allowed us to make the
presentation attractive. Hence, it can be said that we can use our strength of collaborative and
cooperative work process to make out future presentation more informative as well as
reliable. We should also use our collaborative approach to research more regarding the
strategic business theory and their implementation in business planning. Apart from that we
need to find the process how we can achieve the target through researching the practical case
studies. Making the business objectives with financial, resource and timeframe estimation
will be very helpful to improve the quality of our future work. We have seen the presentation
of Team B, where they have shown very competent presentation capabilities with very
informative business plan, which should adopted by us as well.
From the above discussion about the feedback of team B regarding our business
planning presentation it can be said that there are many faults in our presented business plan
that included lack of specific objectives, poor information sharing, lack of market research
and others. Along with these weaknesses there were some strengths in our presentation as
well, which were the presentation style and the logical flow. Hence, we have a strong
coordination and collaboration on our team that allowed us to make the presentation
attractive. We need to find the process how we can achieve the target through researching the

3INDIVIDUAL REFLECTION
practical case studies. In our next business planning project we should incorporate the
business objectives with financial, resource and timeframe estimations. Moreover, it can be
concluded we should do better research, information gathering, specific target set the
business plan for our next business plan project.

4INDIVIDUAL REFLECTION
References:
Dibrell, C., Craig, J.B. and Neubaum, D.O., 2014. Linking the formal strategic planning
process, planning flexibility, and innovativeness to firm performance. Journal of Business
Research, 67(9), pp.2000-2007.
Fulmer, K.L., 2015. Business Continuity Planning: A Step-by-Step Guide with Planning
Forms. Rothstein Publishing