A Reflective Research Report on the Economic Impact of COVID-19 in UK

This report employs the Gibbs Reflective Cycle to explore the impact of COVID-19 on the UK economy. It details the researcher's experience through stages of description, feelings, evaluation, analysis, conclusion, and action plan. The research focuses on inflation and the pandemic's effect on various sectors, highlighting challenges faced and skills developed. The analysis reveals insights into cost-push inflation, decreased consumer demand, and increased unemployment. The conclusion emphasizes learned skills such as research, analytical thinking, and problem-solving, with an action plan focused on mitigating inflation and preventing further COVID-19 spread. The report leverages data from sources like the ONS to support its findings, offering a comprehensive reflection on the research process and its outcomes. Desklib provides access to similar solved assignments and study resources for students.

Research

Table of Contents
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................1
CONCLUSION................................................................................................................................3
References:.......................................................................................................................................3

INTRODUCTION
Gibbs Reflective Cycle is defined as a tool of management and self reflection through
which the individual can think about the several experiences which the individual gain during the
performance of particular action or practice in a clear and systematic manner. Gibbs model of
reflection is found as a process which include six stages i.e. description, feelings, analysis,
conclusion and action plan (Ahmed, 2020). This report is highlighting all the stages of Gibbs
Reflective model along with describing my experience of doing research on the impact of
COVID-19 on the economy of United Kingdom.
MAIN BODY
Below mentioned are the several stages of Gibbs Reflective Cycle Model which I am using to
share the experience of my research: Description: It is the first stage of Gibbs Reflective Cycle model which describe the
complete situation in detail. The main concern of this stage is to explaining the situation.
I performed the task of doing research on the data of inflation and impact of COVID-19
on the economy of United Kingdom. In order to knowing about related concepts, I have
performed quantitative data analysis which help me to know about the research problem
which include decrease in buying power of customers and many more. I get the dataset
from the website of ONS which state the reason behind the inflation in the country.
Through analysing the several data which I get from several sources, I come to the
conclusion of my research topic (Reljić, Pajnkihar and Fekonja, 2019). Feelings: This stage of Gibbs Reflective model help me in explaining the feelings and
thoughts which I gained during performing my project. I face several difficulties during
my project which highly influence my motivation level. But I also worked on the
development of skills within me which help me in facing all the issues and difficulties in
an effective and efficient manner. When I had started the project, I was nervous because
of lack of confidence within me but when I started doing research and getting
informative aspects, I feel motivated towards the project which help me in gaining the
success. Evaluation: It is the next stage of Gibbs Reflective Cycle Model under which evaluation
have been done for the work which have been performed by me. While I was performing
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this project and doing research, I found that I faced several issues because of lack of
some skills within me. Lack of confidence within me worked as hurdle in performing the
project (Markkanen and et. al., 2020). Along with this, I did not have the proper
communication skills and as a result I was not able to properly communicate with my
team members. But I have the skills of time management which I had used to meet the
deadlines and completing the project in an effective and efficient manner. Analysis: This step in the Gibbs reflective cycle provides chance to make sense of what
happened. I worked on the topic of inflation and impact of Covid-19 on UK economy by
taking the quantitative analysis. I enjoyed the working in this area as it matched with my
strengths. While I was conducting research on this topic it helped me lot to enhance my
knowledge and I got opportunity to evaluate several aspects related to inflation and
Covid-19. The analysis helped me in understanding the situation and some research
techniques were used (Chen, and et.al., 2020) . I learned that with cost push inflation, the
demand for goods and services remain same while supply was fluctuating with higher
prices. I found that Covid-19 is affecting the lot of people, industries and there was huge
loss to some companies as there was shutdown and people are not allowed to move
outside. There was increase of unemployment. Conclusion: In Gibbs reflective cycle this is the fifth step which involves conclusion that
helps in knowing what people have learned. From this study I got to know about several
issues which impacted the service prices. Along with in concluded that pandemic has
long term repercussions on inflation because of structural change in economy. With this
topic I have leaned several skills such as research, analytical thinking, team working,
problem solving which I can take use in my future experiences (Das, and Debnath,
2021). I learned that on some situations there is need of taking quick decisions. From the
study I found that there was change in consumer behaviour and GDP declined with the
lock down and leading to inflation in prices of goods & products.
 Action plan: This is last stage which is related to the actions need to develop and
improve for the betterment in next time. I will use my knowledge and skills while
working in the organisation related to topics of inflations and Covid-19 impacting on
economy. To stop the inflation I will explore the sources of income, reducing the
expenses and start investing. I will take use of discount vouchers. To prevent from
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Covid-19 I will maintain social distancing, hand washing and using of face mask so that
this virus can not be spread more and not affecting UK economy (Zhang, and et.al.,
2020).
CONCLUSION
From above it can be said that, Gibbs reflective cycle is used in several situations that
helps in improving the understanding of circumstances and experiences to make people learning.
This procedure is recognised as valuable tool which goes will with diverse situations & helps
participant to reflect upon the given situation by making evaluation, understanding and taking
suitable action in future. By using this model on the topic of inflation and Covid-19 impact on
UK economy helped in describing the experience, evaluation, analysis and considerinmg action
plan.
References:
Books and Journals
Ahmed, A.M., 2020. From reluctance to addiction: The impact of reflective journals on Qatari
undergraduate students’ learning. Reflective Practice, 21(2), pp.251-270.
Chen, and et.al., 2020. RAD‐Seq refines previous estimates of genetic structure in Lake Erie
Walleye. Transactions of the American Fisheries Society, 149(2), pp.159-173.
Das, and Debnath, 2021. Gibbs Sampling for Damage Detection Using Complex Modal Data
from Multiple Setups. ASCE-ASME Journal of Risk and Uncertainty in Engineering
Systems, Part A: Civil Engineering, 7(2), p.04021018.
Markkanen and et. al., 2020. A reflective cycle: Understanding challenging situations in a school
setting. Educational Research, 62(1), pp.46-62.
Reljić, N.M., Pajnkihar, M. and Fekonja, Z., 2019. Self-reflection during first clinical practice:
The experiences of nursing students. Nurse education today, 72, pp.61-66.
Zhang, and et.al., 2020. A new prediction method based on VMD-PRBF-ARMA-E model
considering wind speed characteristic. Energy Conversion and Management, 203,
p.112254.
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