Individual Reflective Report

This individual reflective report details the analysis of a fashion business plan created by a group of students. The report is divided into five parts. Part 1 summarizes the group's business idea, a fashion house targeting women aged 30-55, highlighting its strengths (trendy designs, high quality, low prices) and weaknesses (intense competition). Part 2 discusses the process of idea initiation, focusing on the inspiration drawn from the U-Design company and the key learnings about vision, goal integration, and customer-centricity. Part 3 emphasizes the importance of teamwork in developing the business plan, outlining the roles and contributions of each team member. Part 4 reflects on the presentation experience, highlighting the skills learned in effective communication and audience engagement. Finally, Part 5 explores alternative scenarios and growth strategies, including diversification into other merchandise and celebrity endorsements to mitigate the challenges of intense competition.

Individual Reflective Report
Part 1 : Summary of your group’s business idea
It started with the group of five young women’s in HK to start a fashion house with
the modern contemplated venture that could bring the best trends & latest designs in
young girls. It’s a one stop shop destination for all the modern & unique designed
clothes, jewelry& fashion accessories. The market they are catering into is quite huge,
has a tremendous growth potential & is always in demand. The challenge lies in
catalyzing the prospective customers & making them part of the regular business. The
business model is already integrating back end & front end models into the
mainstream, hence there will be delays, lags or quality issues. The business model is
well sculpted & looks in line with the current trend of focusing women’s of age group
30-55 years old working or non-working. Looking at the business propositions its
customer centric, dynamic, serving B2B models as well as B2C through online &
offline options. The cost integrations are well tailored to get funded & channelized
through revenue stream. Looking at the experience of Management & staff handling
key operations & strategy is quite experienced & can handle challenges easily.
The main strength of the fashion idea used is the latest trendy designed clothes with
the best quality & low priced (Festival, 2013). The weakness one could foresee is
keeping a name in the market will be tough as there are many small & big competitors

competing within same dimensions. They have to key highlight their business model
uniqueness which is “high quality, low priced & trendy” through intelligent marketing
&strong promotion campaign. They can also spread its wings through word of mouth
promotion & take customer surveys, feedbacks or suggestions more meticulously.
They can differentiate themselves from the competitors by making their brand
successful in terms of customer oriented & improving their customer related services
or issues.
Part 2 : Process of idea initiation
While researching we came across many unique concepts & ideas. There were some
interesting topics such as food & beverages restaurants, confectionaries shops and
small scale auto companies which we read & gone through nitty gritty of the fact
findings. But none had an interesting conventional story to get inspired off. All of the
team members bought different researched articles about the various inspiring
entrepreneurs which we analyzed, met face to face to understand their perspective,
potential capabilities but they somewhat fall in line similar to competitor model and
didn’t have a unique strategy to visualize.
While reading & specifically going in-depth about the vision & mission of the U-
Design company helped us in quickly familiarizing the issues. The main highlight of
the U-Design that it was started with small funds by five young women’s with an

enriched background devising a strategy to customize clothes as per the request of
customers was a class apart with other ideas. The strong foundation of U-Design was
a great reason to compete with big & small competitors. The idea of customizing
designing as per customers was never nurtured even by high brands. This immediately
helped us in getting connected with the brand, its image & the vision planned.
Learning about the entire key design of the company helped us in broadening our
horizons. The key learning followed in three steps, firstly the vision of the company,
secondly integrating individual goals with the company goals & ultimately being
customer centric serving high quality customized tailored clothes at competitive
prices. Another key learning was it was started by a group of women’s who had full
faith & confidence that this model will be successful which can easily penetrate the
market.
Part 3 :Team work
Going in-depth into the main topic & making a business development plan running
requires individual efforts, time & good researched work. For this, one should have a
good team who could support, provide alternative plans & help in reorganizing
findings in one direction. Creating a business model, learning key concepts before
drafting propositions, researching over the management team, staff, analyzing the
layout of operations, financial & marketing running within the module & finally

drawing a conclusion requires time, energy & resources. To channelize individual
efforts to present a report we need a good catalyst in the form of teamwork. Through a
good teamwork, we did a good synchronization of all the facts, findings, figures &
organize it into a well-drafted research report. Our team was guided well by research
methodology and each individual was given a proper direction to the manner it would
assist the project & would connate business model research work accordingly. Out of
the five team member team, first & second team member was given the task to gather
data, another was directed to collate & capture things, the fourth individual was given
the task to present things in an orderly & mesmerizing manner, then fifth to be a good
organizer & key assist in supporting each individual.
As a team, our best efforts were well garnered into developing a well-structured
outlay of business model. Each individual researched well, tailored the facts, findings
in a one strategized report. Specific key skills, each individual mindsets, basic
knowledge & performance were well integrated into forming a business plan of the
company. Without the caliber, responsibility, the cooperation of each individual the
efforts would have gone waste & would have resulted in the failure to provide
researched work within a stipulated timeframe. Working knowledge of the key
assignment integrated with the best team work helped us in delivering our project
within requested timeframe.

Part 4 : Presentation Experience
Presenting facts & figures should create a repercussion effects in the individual
mindsets attending the sessions. A presenter should connect with the audience in a
way that they could visualize, learn & flow in a manner (positively or negatively) as
per the directions of the presenter. A better presentation skill boost confidence reduces
stress levels & results in less miscommunication. A basic skill to present presentation
is to have a good communication skill, research well in knowing about your audience,
dress well as per the occasion, organized facts, neatly drafted case & confidence to
present things.
While presenting to the panel, we learned how to be efficient, effective communicator
by organizing our facts well. We researched the topic, audience, practiced, understood
key challenges while presenting things, developed a key strategy to generate curiosity
& interest in the topic.
While presenting we learned how to make presentation flow precisely as per the facts
& timings. Learned how to dress appropriately, maintaining eye contacts, how to
address issues or concerns as a presenter, using hand moments, expressions
judiciously & not going overboard (Batra, 2016). Timely delivering presentation &
not deviating from the mainstream topic. Bringing back audience attention by
throwing random questions in between & generating interest by arousing curiosity in

the topic. Good communication is the key to delivering a best presentation.
Comparing with other groups, I noticed that one need to harness the art of good orator
skills, present findings with apt preciseness & with confidence. Since panels do grade
students as per the polished presentation skills set, well structured & confidence in
presenting findings. Even though sometimes the orator may choose a different path
from the mainstream but one should have a persuasive approach in convincing the
audience & can redirect the flow to the mainstream. It just goes with the flow with
precise individual efforts.
Part 5 : Alternative Scenario
Though the concept is quite unique but mixing & competing in the same fashion
market which has big & small competitions can be a bit tough. The growth plan
devised is as per the current scenario. The business outlay is to first access the market,
a strategy is already devised to make customized, well-tailored clothes targeting a
specific age group of 30-55 women’s of working or nonworking groups. High quality
delivered at the best prices. The second plan framed is to launch a similar pattern
model for the men’s fashion once the women’s business model becomes successful
(Okonkwo, 2016). The third strategy is to make live workshops wherein the
customers could themselves guide & design their clothes. The optimism in the entire
business plan is to firstly seed the funding, make it operational on a large scale &

make a loyal list of customers. The growth strategy devised is quite on the track &
looks great. The only effort that U-Design Company should do is to intensely promote
& aggressively market it. The only key challenge is competing with big or small
competitors in the same market. Intense competition will result in aggressive
advertising, discounts, promotional activities ultimately leading in compromising in
qualities & losses in funds.
Alternative growth strategy which could be planned out is to simultaneously launch &
diversify into different merchandises such as kids fashion house, home decoration
stuff or maybe launching a customized kitchen wares. This way, even if the women’s
fashion house concept initially may require a push in funding & aggressive marketing
but, through diversifying it can still reach the breakeven point. Another way to get a
visible promotion is through celebrity endorsements, by which it will be able to catch
more limelight & can easily penetrate into the competitive market.

References:
Batra, R. and Keller, K.L., 2016. Integrating Marketing Communications: New
Findings, New Lessons, and New Ideas. Journal of Marketing, 80(6), pp.122-145.
Festival, M.F., 2013. 8 Creating wow in the fashion industry. Fashion, Design and
Events, p.118.
Okonkwo, U., 2016. Luxury fashion branding: trends, tactics, techniques. Springer.