MBA Research Reflection Report: Business Plan Project Development

This research reflection report details the development of a major project, a business plan, within an MBA program. It covers the research methods and processes chosen, justifying the selection of exploratory design and secondary data collection for understanding trends and customer preferences in London's patisserie market. The report highlights the importance of literature and sources, including journals, books, and government reports, in informing the business plan and secondary research. Key areas of knowledge gained include research methods, data analysis, and understanding the UK restaurant sector. The report also reflects on the development of management, analytical, and critical thinking skills, alongside challenges faced such as data insufficiency and time limitations. Ultimately, the project contributes to professional development by enhancing leadership, risk management, and communication skills, preparing the student for future employment. Desklib provides access to similar reports and study resources for students.

Research Reflection Report (Assignment Format) – Guidelines for the Report
RESEARCH REFLECTION
REPORT
(should contain the details given below) Please type your responses in the spaces below:
Marks
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1. Research Methods &
Processes
How and why have you chosen/decided
on the research methods and processes
which you are using/have used for the
development of your Major Project?
How would you describe these to:
1) a reader of your Major Project and/or
2) a future employer
(max. 275 words)
Research methods play a vital role in the
accomplishment of a research project. For the
development of major project, which is
business plan, various research methods have
been utilized. Selection of appropriate research
methods was an important aspect. The research
methods were decided after evaluating all the
available alternatives. Various research designs,
data collection and analysis methods,
qualitative and quantitative techniques were
studied. The strengths and limitations of each
of these methods were determined. After
gaining knowledge about the various research
techniques, evaluation was done regarding their
suitability for the business plan. All the
available research designs were studied. After
this, exploratory design was chosen to be used
for carrying out the research for the proposed
business of patisserie restaurant. This is
because it seemed to be the most suitable after
considering its strengths and limitations.
Similarly, primary and secondary data
collection methods were studied. After
evaluating both the methods, it was decided
that secondary data collection would be more
suitable for the business plan. Hence,
secondary data was collected for the present
research.
The research methods and processes which
were chosen for this business were decided
because they were capable of accomplishing
the purpose of the research. In the proposed
business plan, research was to be carried for
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the purpose of finding out the trends and
customer preferences regarding patisseries in
London. This was required so as to assure that
the proposed business plan is feasible. Hence,
for this, secondary data collection methods
were found to be appropriate. Furthermore,
exploratory design was chosen because there
was a need to learn more about the concept
which blended restaurant and patisserie shop.
This could be done in a better way by using
exploratory design.
2. Literature & sources
1) What are the most important
theories/literature sources /evidence
sources which you are using to justify
your research and your Major Project?
2) Why are these sources important and
fundamental to your work?
(max. 275words)
Various literature sources were used for
justifying the research and business plan.
Literature and sources are important aspects
while carrying out a research. This is because
these help in gaining information about the
subject matter. Further, these also assist in
obtaining useful information which leads to
accomplishments of research objectives. While
carrying out the research for the present
business plan, a wide range of literature and
sources were utilized. Data was obtained from
journal articles, books, government reports,
online blogs and articles. Journals and books
provided information about starting up a
restaurant business. These also contained large
amount of data on patisserie shops and their
operations. Further, various government reports
provided important information about the
industry such as the restaurant sector and the
bakery industry. These reports contained
detailed information about the trends in
restaurant sector. They also highlighted
customers preferences, their spending patterns,
there liking for eating out, their taste regarding
sweet bakery items etc.
These sources which were used were important
and fundamental to the proposed business plan.
This is because they helped in carrying out
secondary research. With the help of these
sources, the researcher was able to obtain the
required information for the business plan. The
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sources such as journals and books were
important as they informed the researcher
about the various aspects that are to be
considered before starting up a new business.
These also provided knowledge and learning
about becoming and successful entrepreneur.
Further, journals and books were fundamental
to this research as with them the researcher was
able to learn about factors which may influence
a new business start up. Online articles and
blogs were useful in providing information
about patisserie shops and French pastries
which are in demand in London.
3. Your Knowledge
What key areas of knowledge have you
gained from undertaking your research
and the Major Project?
Indicate why these are so important to
you?
(max. 200 words)
A research project helped in development of
various areas of knowledge. Similarly, while
carrying out the present business plan, there
were various areas of knowledge that were
gained. I gained knowledge about various
aspects which are important to be considered
while starting up a new business. These
included human resource, financial, physical
resource considerations. Another key area of
learning was related to research methods. I
gained knowledge about various research
methods, their strengths and limitations.
Further, I also learnt to choose the most
appropriate method after evaluating the
available alternatives. The details about
exploratory design were studied by me. I also
learnt about various methods of data collection.
Development of reading skills is another key
area of knowledge that was enhanced. While
evaluating various secondary sources of data
such as journals, books, online articles, blogs,
etc., I learnt about techniques such as
skimming reading.
Further, the business plan informed me about
restaurant sector of UK and trends associated
with it. This was a key knowledge area that
was developed from undertaking research for
the proposed business plan. I learnt about the
operational activities of a restaurant business.
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More specifically, I realized the complexities
which may be involved in running a restaurant
which is based on a particular theme. These
key areas of knowledge are important as they
will equip me with skills and learning which
will be required for future employment.
Further, these areas have led to self
development and made me more confident
regarding employability skills and attributes.
4. Your Learning
What are the most important
aspects/examples of learning and/or
skills which you have gained from:
(1) undertaking the MBA programme,
(2) following through your research,
and
(3) applying your knowledge and what
you have learnt in your Major Project
(max. 200 words)
1) While undertaking the MBA program, there
are various skills that I gained. Most important
skills are in the category of management. I
learnt about time management and work
management skills. I also gained knowledge
about people management skills which are
required for future employment. MBA program
was successful in teaching me interpersonal
skills which are required for effectively
communicating and interacting with people,
both in groups as well as individually.
2) Through the research that was carried out as
a part of the major project, other set of skills
were developed. I learnt risk management
skills which were utilized by my while
conducting various research activities. I
developed analytical skills which were gained
while analysing the secondary data that was
collected. There was large amount of
information available from the secondary
sources. However, only the most relevant
information could be used in the business plan.
In this process, I learnt the skills of interpreting
and analysing the data. I also learnt evaluation
of data so that the most useful information can
be incorporated into the business plan.
3) various important aspects have been learnt
from applying my knowledge in the major
project. I developed critical thinking and
logical skills while applying my knowledge to
the major project. Practical application of
theoretical knowledge led to the development
of logical and critical thinking skills. Moreover,
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I also learnt time management skills while
applying my knowledge in the major project.
5. Critical Thinking and your
ideas
In carrying out your research, your
analysis, your evaluation of evidence,
and in identifying or proposing
conclusions, what has been the most
important discovery, or piece of
evidence, or theory, or viewpoint, or
critical idea, or critical addition to your
knowledge, or other item of importance
and why?
(max. 200 words)
While carrying out the research, analysis,
evaluation of evidence and reaching to the
conclusion, there have been various critical
additions to my knowledge. However, the most
critical addition was that of search skills,
analysis skills and presentation of work. I
learnt about search strategies and their
importance in obtaining relevant search results.
For the proposed business plan, secondary
research was carried out which involved
searching for information in journals, books,
government reports, online blogs and articles.
These had to be searched for obtaining
information on restaurant sectors, patisseries
and their demand in London. However, it can
be critically analysed that without appropriate
search terms, the relevant information cannot
be obtained. Hence, while searching for
information for the business plan, I learnt about
formulation of appropriate search terms so that
useful and relevant information could be
obtained.
Further, analysis skills was another critical
addition to my knowledge. As there was
secondary research in the business plan, it was
important that the available data is analysed
before incorporating information into the plan.
Moreover, analysis was also required to
determine the feasibility of the proposed
business idea. The condition of restaurant
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sector and the demand for patisserie was to be
analysed to take the idea of the proposed
business further ahead. All these processes
helped me to gain knowledge about the ways in
which analysis of data can be carried out.
Learning about proper presentation of work
was the third critical addition to my
knowledge. An appropriate structure was
followed for presenting the business plan. This
comprised of various chapters, main headings
and subheadings. I learnt about proper
presentation of work so that it is an
understandable ad readable form. Use of
headings and subheadings was learnt by me.
6. Barriers met
What were the main difficulties and
barriers which you were faced with in:
(1) undertaking your research, and
(2) completing your Major project
(max. 200 words)
1) There were various difficulties and barriers
faced while undertaking the research. The first
was insufficiency of data due to restricted
access to some sites. There were some sites
which contained relevant information and
statistical values related to restaurant sector.
However, these sites did not provide access to
full text. Hence, these limited the data that was
referred to while undertaking the research.
Another difficulty that was faced was selecting
appropriate information from large pool of
secondary data. As secondary research was to
be undertaken, there was large amount of data
available from which only useful pieces of
information were to be taken.
2) While completing the major project, there
were other set of difficulties that were faced.
The first barrier was limited time. The major
project required a number of tasks to be
completed which needed adequate time.
However, limited time was available to
complete the project. However, various tasks
were appropriately completed within the
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provided time. Further, it was difficult to
undertake the feasibility study because
thorough search of the industry details had to
be carried out. Following it, on the basis of
these details, decisions were to be made about
various aspects of the business such as those
related to finances, human resources and
others.
7. Your Professional
Development
What are the most important business
and/or management skill(s) or academic
idea(s) or lesson(s) which you have
learnt from undertaking your research
and your Major Project – and why?
(200 words)
While undertaking research and major project,
various important business and management
skills were learned. I learnt about leadership
skills while undertaking the major project. This
is because the major project provided me an
opportunity to handle real life situations. It also
helped in the development of risk identification
and management skills. This is due to the use
of various management and analysis skills
throughout the research. Further, I learnt
interpersonal and public speaking skills. I
learnt how to communicate with people
effectively. Project management and time
management skills were also developed from
undertaking the research and the major project.
I learnt how to manage time and allocate it
among various tasks so as to maintained
efficiency and output. Apart from that, I also
developed research skills. These included
search skills and data analysis skills. Logical
thinking and critical analysis skills were also
enhanced. The major project further led to
enhancement of problem solving skills. I
confronted a number of problems of varied
nature during the research. Solutions to solve
these problems were also devised by me by
choosing the best option from various
alternative. In this way, problem solving skills
developed. In this way, I learnt various
practical skills from undertaking research and
major project.
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8. Objectives Based on research and the work that has been
done by me in the MBA program, the

Based on your research and the work
which you have done in the MBA
Programme and its use in your Major
Project, what were and how far have the
objectives of your major project been
achieved?
(max. 200 words)
objectives of the major project have been
achieved to a great extent. The major project
was done with the objective of developing
entrepreneur and business skills. It was
undertaken with the objective of presenting the
feasibility of a business idea of opening a
restaurant based on the theme of a patisserie
shop. The research work helped in achieving
these objectives to a great extent. It helped in
obtaining relevant information on the basis of
which the feasibility of the business idea could
be determined.
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9. Findings & outcomes
How useful and/or feasible are the
findings, recommendations,
conclusions, or outcomes of your Major
Project to you and/or to a future
Employer?
You must justify your answer with
specific examples.
(max. 200 words)
The findings, recommendations, conclusions
and outcomes of major project are useful to me
as well as to the future employer. The outcomes
of the project are useful for me because these
made me knowledgeable about the industry as
well as research skills. For example, I gained
knowledge about restaurant sector of UK. I
also learnt about various trends in the
restaurant sector and preferences of customers
for sweet bakery goods. Further the outcomes
of the major project will be useful to a future
employer in a number of ways. It will inform
the employer about the aspects of opening and
running a new restaurant. For example, the
future employer will learn about the things that
are to be taken into account when the restaurant
is based on the theme of a patisserie shop.
Further, he will also get information upon the
financial and human resource requirements of a
patisserie restaurant.
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TOTAL
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