Research Reflective Report: MBA Project on Online Banking System

This reflective report summarizes a student's experience with a business development project focused on creating an online banking system for a small finance bank. The report details the research methods employed, including qualitative and quantitative approaches, primary and secondary data collection, and the use of questionnaires and online sources. It also covers the literature review process, the knowledge and skills gained, and critical thinking applied during the project. The report identifies barriers encountered, such as communication challenges and time constraints, and discusses professional development aspects, including improved communication, time management, and organizational skills. The project's objectives centered on developing a successful online banking system, particularly relevant during the COVID-19 pandemic. Findings highlight the practicality and viability of the project, supported by data analysis and the use of questionnaires. The report concludes with reflections on the overall learning experience and its impact on future career prospects.

Research Reflective
Report
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Contents
Introduction......................................................................................................................................3
Research Methods and Sources.......................................................................................................3
Literature and Sources.....................................................................................................................4
My Knowledge................................................................................................................................4
My Learning....................................................................................................................................5
My Critical Thinking and My Ideas................................................................................................5
Barriers Met.....................................................................................................................................6
My Professional Development........................................................................................................6
Objectives........................................................................................................................................6
Findings and Outcomes...................................................................................................................7
REFERENCES................................................................................................................................8
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Introduction
Reflective report can be stated as a part of assessment of project and is a piece of writing in
which critical reflection on particular area or subject of student is summarised. This is a
reflective report which is based on my own experience which I gain while performing the project
(Wolff, and et. al., 2017).
Research Methods and Sources
In the development of overall project on small finance bank with online banking system,
there are several research methodologies and processes which I used including qualitative
research method, primary and secondary data collection methods etc. There are various survey
techniques including questionnaire, interview, cross sectional survey and longitudinal survey.
Among all these, I made use of questionnaire to collect primary data as this is the most useful
and inexpensive in comparison to other methods of collecting data. Apart from this, using this
method helped me in gaining information from wider population. On the other hand, secondary
data was connected by making use of different online sources including articles, journals,
websites etc. For the development of major project, quantitative research method was considered
as by the help of this method, I enabled to collect more accurate information on the topic in the
numerical form (Örnek, and Ayas, 2015). This helped me in drawing accurate outcomes of the
business development project. The sampling method which was utilised in the project is simple
random sampling. The main reason behind selection of simple random sampling is that it assists
in reducing the chances of biasness while collecting the sample size. Moreover, for obtaining
responses from the respondents, the sample size selected was 100 people. This helped me in
collecting more accurate information on the topic, that is, small finance bank with online banking
system. This help me in gaining responses of respondents on the idea of developing online
banking system for small finance bank which ultimately helped me in knowing about the views
and perceptions of people regarding the idea and chances of its success.
Literature and Sources
In order to justify the research and major business development project on development of
online banking system for small finance bank, different online articles and journals were used to
determine the facilities and services which can be rendered to customers under online banking
system in order to gain satisfaction from consumers. Apart from this, different ways through
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which online banking system help consumers in the current pandemic situation cause because of
corona virus were also reviewed by using different sources and articles (Latinjak, and et. al.,
2018). Moreover, different strategies were analysed for development of online banking system
along with mobile application. All the sources which were utilised in the review of literature are
important for my work as through those sources, I was able to analyse the different ways through
which the idea of development of online banking help people during spread of coronavirus
pandemic. The literature review section also helped me in comparing the viewpoint of different
authors on the different themes related to the topic and analysing the gaps in literatures. In
addition to this, it also assisted me in gaining deep insights over the topic which help me in
ensuring the success of my business development project. Authenticated sources were used at the
time of performing literature review and the sources which are older than 5 – 6 year were not
utilized in the study. Use of different sources and review of different literatures assisted me in
collecting huge amount of information on the topic (Janssen and et. al., 2019).
My Knowledge
By undertaking the research and the major business development project, I gained deep
knowledge on the topic along with its associated areas also. The key areas on which I get
knowledge by performing this study includes the ways through which online banking system
assist people in the current situation of spread of corona virus pandemic. It also helped me in
determining the different business strategies which help in developing online banking system
along with mobile application. Apart from this, the type of software and the application which is
suitable for the system of online banking of Malta development bank were also determined by
me through performing the study (Seloraji, and Eu, 2017). All the knowledge and learning which
I get by conducting the study is very important for me. It helps me in developing my Idea more
appropriately as well as ensuring its success in the market (Choi, Walters and Hoge, 2017).
My Learning
By undertaking the MBA program and performing the research and major business
development project, I learnt a lot of things. I learnt about the different methodologies and ways
to perform the research study in an effective way. This business development project helped in
improving my skills and competencies along with my knowledge base. It improves my
communication skills and make me able to interact with other people in an effective way.
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Initially, my communication skills were not so good because of which I faced difficulties in
communicating with others and make them understand what I want to say. But, while performing
the study, I interacted with many people which help in improving my communication skills (Tan,
Koh, and Kokkonen, 2016). Apart from this, I also learn time management skills which make me
able to perform each and every activity on time in order to get success in a particular project.
This make me able to prioritise my work as per their significance and perform them effectively
on time. It also helped in improving my knowledge about the market and the perceptions of
people regarding online banking system in Malta Development Bank. With the help of the study,
I get knowledge about different business strategies for developing the online banking system as
well as mobile application.
My Critical Thinking and My Ideas
In carrying out the overall research and analysis, the most important thing is that I am able
to know about the feasibility and viability of idea. This study provides me with the knowledge of
various areas which help me in knowing about the business strategies which organisation can use
to develop online banking system. It also assisted me in knowing about the different issues which
consumers may face while utilising online banking. It is also assistive in determining about the
various benefits of adopting online systems for the bank along with its impact on operations of
the business (Cavilla, 2017). From the overall study, I personally found that because of spread of
corona virus pandemic, people are facing a lot of difficulties in making transactions and
accessing the services of bank. So, with the help of online banking system and mobile
application, the small business owners can manage their transactions along with other works
related to bank only through using the online banking system of bank.
Barriers Met
While taking the research and the major business development project, there are some
difficulties and barriers which I faced. I faced difficulties because of my ineffective
communication skills initially as due to this, I was not able to make the other people understand
what I was trying to say. This sometimes create misunderstandings due to which various
difficulties were faced by me during undertaking the research. However, later my
communication skills get improved and I was able to interact with people effectively. Apart from
this, the time assigned for starting and completing the project was specific within which I needed
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finish the project successfully (Suprayitno, and et. al., 2020). Due to less time, I faced difficulties
in finishing some of the activities within time. The major difficulty which I have faced while
performing the study was related to data collection. Because of spread of corona virus, I was not
able to go outside for collecting the responses from respondents. And in collecting the responses
online through e-mails, a lot of time was consumed due to which the other activities got delayed.
However, with the help of my other team members, I was able to finish all my tasks and
activities within the specified time frame.
My Professional Development
By undertaking the research and major online banking system development project for small
finance bank, I have learnt different skills. This project helped me in improving my
communication skills, organisation skills, time management skills, group working skills along
with some other skills and knowledge base. This research project makes me able to know about
the benefits of online banking system in daily life. I learnt that online banking system provides
an ease to the small business owners to do their transactions conveniently without any need of
visiting to the bank. This project helped a lot in improving my knowledge base which will help
me in future in getting good employment and also fuels the growth of my career (Kaur, Aul, and
Chawla, 2015). In addition to this, the knowledge base which I gain by performing this study
also help me in my personal and professional growth. It will help me in future in performing a
similar study or related study on the topic in a more effective and efficient way. The overall
learning which I got from the study and the major business environment project help in my
personal and professional development and also assist in my future career growth.
Objectives
On the basis of the research as well as the work which I have done in management of
business administration programme, my main objective was to develop the online banking
system and mobile application successfully and help people to do their transactions conveniently
without any need of going to bank in the situation of spread of corona virus pandemic. The
objective in relation to this reflective report is to reflect on my experience from performing the
overall business development project which consists of information about research processes and
methods which I used, literature and sources, my knowledge, my learning and critical thinking
and ideas. With the help of the overall study conducted in the major project, the main objective
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of the project has been achieved successfully (Corgnet, Desantis, and Porter, 2018). Apart from
this, it can be said that this project proves to be successful in future period of time as people are
making more use of internet. And in this digital era, providing all the banking services online
will help the bank in attaining sustainability in the market for long term. All the objectives of the
business research project are accomplished successfully and serve as base in future for further
research.
Findings and Outcomes
The findings from the overall study are very useful in relation to the aim of the project. This
study helped in determining the appropriate ways through which online banking system can be
develop and executed successfully within the bank. Apart from this, the different methodologies
and sources utilised in this study helped in performing the study systematically and drawing
valid outcomes of research. It assists in knowing about the practicality of research idea and its
viability which help in ensuring the success of project. With the help of questionnaire, large
amount of numerical data was gathered that helped in drawing valid and reliable outcomes of the
research study. My overall learning and knowledge base from this investigation will help in my
future career growth and success. Apart from this, this reflective report helps me in knowing
about the difficulties which I faced and the barriers met, information about my professional
development, objectives along with findings and outcomes of the overall research project. With
the assistance of reflection, I get opportunity to work upon my development areas and improve
them in order to ensure my future growth and success. In addition to this, my improved skills,
knowledge base, competencies and learning also assist in performing the similar tasks effectively
in future.
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REFERENCES
Books and Journals
Örnek, A.Ş. and Ayas, S., 2015. The relationship between intellectual capital, innovative work
behavior and business performance reflection. Procedia-Social and Behavioral
Sciences, 195, pp.1387-1395.
Latinjak, A.T., and et. al., 2018. Effects of reflection to improve goal-directed self-talk on
endurance performance. Sports, 6(2), p.55.
Seloraji, P. and Eu, L.K., 2017. Students' Performance in Geometrical Reflection Using
GeoGebra. Malaysian Online Journal of Educational Technology, 5(1), pp.65-77.
Tan, S.L., Koh, K.T. and Kokkonen, M., 2016. The perception of elite athletes’ guided self-
reflection and performance in archery. Reflective Practice, 17(2), pp.207-220.
Cavilla, D., 2017. The effects of student reflection on academic performance and
motivation. SAGE Open, 7(3), p.2158244017733790.
Suprayitno, H., and et. al., 2020. Preliminary Reflection on Performance Indicator and
Performance Factor for Infrastructure Asset Management. Journal of Infrastructure &
Facility Asset Management, 2(1).
Wolff, L.A., and et. al., 2017. High performance education fails in sustainability?—A reflection
on Finnish primary teacher education. Education sciences, 7(1), p.32.
Kaur, H., Aul, G.D. and Chawla, V., 2015. Enhanced reflection loss performance of square based
pyramidal microwave absorber using rice husk-coal. Progress In Electromagnetics
Research, 43, pp.165-173.
Corgnet, B., Desantis, M. and Porter, D., 2018. What makes a good trader? On the role of
intuition and reflection on trader performance. The Journal of Finance, 73(3), pp.1113-
1137.
Choi, J., Walters, A. and Hoge, P., 2017. Self-reflection and math performance in an online
learning environment. Online Learning Journal, 21(4).
Janssen, E.M., and et. al., 2019. Identifying characteristics associated with higher education
teachers’ Cognitive Reflection Test performance and their attitudes towards teaching
critical thinking. Teaching and Teacher Education, 84, pp.139-149.
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