Reflective Journal 1: Market Research, Teamwork, and Insights

This reflective journal explores key aspects of business development through market analysis, teamwork, and personal reflection. The journal begins by defining research approaches and categorizing market research methods, differentiating between primary and secondary research. It emphasizes the significance of a marketing plan, incorporating SWOT and PESTEL analyses to assess strengths, weaknesses, opportunities, and threats, as well as political, economic, social, technological, environmental, and legal factors. The second part of the journal focuses on the importance of teamwork, highlighting its role in dividing tasks, fostering new ideas, and problem-solving within an organization. The final section reflects on the author's professional understanding, emphasizing the need for strategic, economic, and commercial plans, alongside quality product offerings, hygiene standards, and efficient workforce management. The journal underscores the importance of a positive team environment and continuous professional development for establishing a successful business.

Reflective Journal

1. Meeting the deliverables:
The plan and procedure which consists of the steps of broad assumptions with
details of method of data collection, analysis and interpretation is called Research
approach. Data collection’s approach and data analysis’s approach is the part of
Research approach. There are so many ways to define the various market
research methods. The methods are divided into six categories: (1) secondary
research, (2) surveys, (3) focus groups, (4) interviews, (5) observation, or (6)
experiments/field trials. In my opinion, most of the market research is divided into
two parts. The two parts are primary and secondary market research. Secondary
research is happened to be the first of six market research methods. The other five
are all various kinds of primary research. Secondary research is the simple act to
seek out the existing data and research. Secondary data is usually being the
comments of Twitter, articles of journal and many more. Secondary research is the
best because it is often free and it is usual to be done very quickly. The job of a
secondary researcher is to find the existing data and apply it to the project. With
all the detailed market research I came to know that a marketing plan is
comprehended by documents which give outlines to the marketing andadvertising
efforts for the upcoming year. It is described as the activities of business that is
engaged in accomplish of some significant objectives of marketing within a
particular time. With the help of my brief research I think, description of the
current marketing position of a business is also considered as the part of a
marketing plan. The business will achieve its goal by the description of marketing
mix and the discussion of the market plan. Marketing plan has the structure in
formal that is used as a flexible formal document. It contains some strategies
about marketing, prediction of future and some data of history.
Thus, I believe for establishing an industry it is very important to do a brief
market analysis. This market analysis is based on SWOT AND PESTEL analysis.
Which are as follows :
SWOT ANALYSIS:
SWOT analysis analyses the company’s strength, weakness, opportunity and
threat. Those are as follows:
Strength:
 With a brief research I understand that for making a biggest pastry industry
of our country it is very important to have lots of varieties of those
products they offer to their customers.
 The shops must be situated in a proper and accessible location.
 The ambience and environment of that place must be great.
 The employed staffs of that company must be well organised and well
experienced.
Weakness:

 Any kind of bakery and pastry products can be spoiled and
perished easily.
 Financial status and accountability is a major issue for not only for
this pastry industry also for any kind of industry.
 A less experiences staff is a biggest problem for any kind of
industry.
Opportunities:
 Nowadays people are become too much concerned about
their health thus they like to have this kind of food.
 As this pastry industry is now on demand thus it is very
clear the market is expanding.
Threat:
 As pastry industry is now on demand thus there are
various different and new pastry industry are
introduced in our country other that rica pastry
industry. This is become a major threat for this
organistion or industry.
With the help of my research and detailed study I believe that Pestel analysis is other major
important factor for understanding and analysing the market and its trends.
 Political:
I believe for establishing a new organisation the
political influence is most important feature. There
are some rules, regulations and policies have to be
maintained by those organisation.
 Economic:
Economic aspect is a major aspect for establishing a
new organisation as we all know without the
principle amount no one could even think about
building an organisation.
 Social:
Social platform is always helpful for their survey
and promotions.
 Technological:
Now we all are living in a tech era. Thus we have to
take all of their advantages for building an emperor.
 Environmental:

We discussed earlier that the environment of that staore must be very soothing, friendly and
clean. Not only the environment of the store it is also implied on the environment of that
place as well.
 Legal:
A company or an organisation should always
maintain the legal terms, standerds and conditions.
2. Team work:
Team work is also the essential thing to the establishment of an industry and
without team work no one can get a proper establishment as an industry, when the
research on market and market policies has to be done (Crane and Matten 2016).In
my opinion when some members of a team are busy to work on the marketing
strategies some of them have to be busy to work on financial accounts. To make
the company profitable the team has to divide in some parts. Some people need to
shop the ingredients for products to make (Crane and Matten 2016).Some people
need to plan for earning or getting the capital for their business. Some people need
to manage the customer base. Some people have to make the product. Some have
to check the quality of the product. Team work is very essential. Without a
efficient team a business cannot gain success. We should never underestimate the
strength of an efficient team because today the businesses structure work around

teams, it's very essential for students to understand what group work is. With a
details research we can understand that marketing strategies, case studies and
valuable theories must be learned by students and some of them have a clear
picture of how an active team works together.In such case working on this field
with an active team like the designing of team, social processes of that team and
effectiveness of that team provide them the original scenarios of how team works
in the organization.Our research compilations and studies of case also taught the
students that how they can effectively help their teams’ members because
essential theories are mainly applied and presented to settings of business.
Students will boost up teams by having the real world perspective of the setting of
market for the business (Crane and Matten 2016). They will just not learn to the
complicated issues while working with the team. They will also learn how to share
during the team work. They must learn adjustments. They will learn many good
things because of their team work. This is how the students become leader,
designer and member. Team work is also helpful for bringing new ideas and
inventions(Crane and Matten 2016).In brief when you are working with many
people a new idea has to grow in that particular field as we all know every person
is different from other. Every person belongs to very different background. They
all have different education, upbringing and having different perspectives on life.
Thus it is quiet cleared that when more than one different mind joins together
some new ideas must bear there. This will always become helpful for a particular
person as they all can learn something new every day from each other. This will
not only helpful for the members also it will become helpful for an industry as
well. With our research we come to know that having an efficient team means
those members can solve any kind of problems in any kind of scenarios. As we

discussed earlier one person is always different from another. thus it is quiet
cleared that those people have completely different ideas, inventions and their
attitude towards their work is also different from each other. Those people are
quick learner and they have this attitude that they can solve all of their problems.
This will grow only because a healthy competition and team work.
3. My professional understanding:
With the help of my survey, research and analysis one thing has been cleared that
for establishing an industry or any kind of organisation it is very important to have
a brief strategic, economic and commercial plans. Without a brief marketing
strategy a company or an industry whether it is pastry industry or whatever cannot
grow their market. An organisation must have a proper plan. Only marketing plan
is not important an organisation must offer good quality product, in case of Rica
pastry industry pastry is very famous within young generations of our country.
Most of the young people love to eat pastries on daily basis. Thus it is very
important to offer good quality food. As we all know young generations are the
future of a country thus they must grew up as strong and healthy as it can be
possible. In such case that organisation must offer their food fresh and healthy.
Hygiene level also is a very important factor for a food industry like Rica pastry
industry. Government of Australia have their own hygiene maintaining guidelines
and those must be maintained by all of the organisations which are belongs to
food sector. Man power and team work is also important for the growth of an
organisation. All of the employees must be professional and perfectly trained to
do their jobs. In case of Rica pastry industry some of the employees are assigned
in managerial sector, some of them assigned in food preparation sector some of
them assigned in food quality analysis sector. All of them must be well trained,

well organised and well efficient to do their works perfectly. A small organisation
become big not only with their ideas and strategies also for their empoloyees.
Team work is also important for the growth of an organisation. An employee must
be a team member. Team work is always helpful to grow their ideas and
inventions. With the help of team work an employee can understand their roles
and responsibilities properly. In case of team work a person can able to know how
to handle failures, losses and disappointments. A well organised and a positive
environment always make a great team. A team must be very positive minded and
must have positive attitude to their work. With the help of this they will be ready
forever to take new challenges.
Reference list:
1. Armstrong, G., Kotler, P., Buchwitz, L.A., Trifts, V. and Gaudet, D., 2015. Marketing: an
introduction.
2. Morgan, N.A., Whitler, K.A., Feng, H. and Chari, S., 2019. Research in marketing
strategy. Journal of the Academy of Marketing Science, 47(1), pp.4-29.
3. Fahy, J. and Jobber, D., 2015. Foundations of marketing.
4. Baker, M.J. and Saren, M. eds., 2016. Marketing theory: a student text. Sage.
5. Crane, A. and Matten, D., 2016. Business ethics: Managing corporate citizenship and
sustainability in the age of globalization. Oxford University Press.
6. Trevino, L.K. and Nelson, K.A., 2016. Managing business ethics: Straight talk about how to do
it right. John Wiley & Sons.
7. Pearson, R., 2017. Business ethics as communication ethics: Public relations practice and the
idea of dialogue. In Public relations theory (pp. 111-131). Routledge.
8. Grant, P., Arjoon, S. and McGhee, P., 2017. Reconciling Ethical Theory and Practice: Toward
Developing a Business Ethics Pedagogical Model. Business and Professional Ethics
Journal, 36(1), pp.41-65.