Executive MBA: Research Reflection Report on Business Development

This research reflection report provides a comprehensive overview of a business development project, focusing on the research methods and processes employed. The report details the use of positivism for gathering primary and secondary data, emphasizing deductive reasoning to test the feasibility of a business idea across various aspects such as product, market, and finance. It discusses the importance of secondary sources for time and cost efficiency and the use of primary data collection methods like surveys and interviews. The report also includes a review of relevant literature and academic theories, including the STP model, Porter's Five Forces, break-even analysis, and the Business Model Canvas. The student reflects on the knowledge gained, particularly in strategic management, feasibility studies, and financial analysis, and the soft skills acquired through the Executive MBA program. The report highlights the application of these skills in analyzing market opportunities, assessing project feasibility, and managing risks, with a focus on the food industry in Poland and India.

RESEARCH REFLECTION
REPORT

TABLE OF CONTENTS
REFLECTION REPORT.................................................................................................................1
Research Methods & Processes..................................................................................................2
Literature & sources....................................................................................................................4
Your Knowledge.........................................................................................................................6
Your Learning.............................................................................................................................8
Critical Thinking and your ideas.................................................................................................9
Barriers met...............................................................................................................................11
Your Professional Development...............................................................................................12
Objectives..................................................................................................................................14
Findings & outcomes................................................................................................................16

REFLECTION REPORT
1

Research Methods &
Processes
With context to my project, this specific research
methodology has been adopted is based on positivism approach. Its
first objective is to gather primary and secondary data and then
implication of deductive reasoning for testing feasibility of business
idea through various aspects such as product service, market,
industry, organizational and financial feasibility. As per short time
frame it was articulated for concluding this particular business
proposal along with process of lengthy ethics and laid emphasis on
directing strong feasibility study with use of specific secondary
sources. For purpose of testing challenge it has been necessitated to
reach opinion about this business proposal's viability through various
facets, being the market, industry, financial and organisational.
In the similar aspect, as per required review has shown
thorough analysis of data availability which had created ease for me
to understanding and creating sense impact on this organization. This
is replicated as secondary source I have used for accomplishing the
objectives of project. I found that secondary analysis would be
effective and convenient to get reliable and valid data. There is
presence of multiple resources which are highly professional could be
capable to gather adequate information like online operations,
articles, books and journals I have used. This secondary data leads to
save time and money as well and leads to extract gaps and
deficiencies along with additional information required to be
gathered. It had also helped me to improve my understanding related
to problem. Simultaneously, I have used this for tracking that primary
research I have performed is correct or not whereas data is
availability freely or far lesser cost via secondary sources.
Although secondary data reflects that data is gathered for
different objective as it is very significant to lay attention about
interpretation of data collected whereas it could be misleading as
well. Moreover, rigorous analysis of data collection is useful as data
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might show attributions specifically to single country and even it
might be outdated and forms independent judgement as per
acquirement. Apart from these limitations, these sources are
replicated as crucial to expedite and facilitate the process of research.
On basis of other research type, I have also collected data
from primary sources where people were surveyed on one to one
basis like interviews, focus groups, questionnaires etc. I have
considered this as best method by which one has presence of accurate
and clear data according to behaviour, preferences and opinion of
respondents. I have considered for collecting data through primary
sources as it shows originality, relevance of research topic along with
high degree of accuracy. It helps me to relate in personal ways for
past event along with promoting a deep understanding of history as
series of multiple human events. Similarly, it is very important to
people to conduct research as it is very crucial to have fresh and
unused data to identify that how and what should be used to make
their product.
The intended readers of my proposal would lead to attain
funding so I can say that this course has given me multiple skills,
knowledge and tools to enhance my report writing along with skills of
problem solving. I could apply for offering appropriate advice to
management. This report considers multiple assessments and laid
emphasis on market opportunity along with project's feasibility and
even I had analysed implementation aspects of project with
consideration of alternative option of investment and summarised
with various financial projections.
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Literature & sources The business development proposal I had prepared has
inclusion of references to academic theories and literature which
helps in enabling to design an opinion on feasibility of proposed
business venture. The theories and models which I have proposed in
this project are
 STP model
 Porter 5 forces and industry life cycle
 Break even analysis
 Business canvas model
The applicability along with analysis of multiple reviewed
literature is highly instructive and it had offered me different tools for
assessing the environment of business and for designing structured
business model. On basis of STP model it is very important for
function to acquire right customers. It has presence of three elements
as they all are aligned products to right customers. Segmentation
directly split buyers into groups which has similar needs and in need
to utilize finite resources of business via buyer based marketing. This
helps me in determining bases of segmentation and determining
important features of each segment of market. It had informed me
about persona development and needs of customer experience.
Simultaneously, targeting leads to evaluate commercial and
potential attractiveness of every segment and for selecting any one
segment. It helps in informing to choose online targeting, target
segments, online revenue contribution for every segment and
customer life cycle targeting. Furthermore, positioning helps in
developing detailed positioning of product for chosen segments and
market mix of every segment. This has informed me to inform about
core brand and online value proposition, online marketing mix and
life cycle brand development and proposition messaging. Lastly, STP
lays emphasis on commercial effectiveness, choosing the best
valuable segments for business and to develop product positioning
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and marketing mix strategy for every segment.
On the same note, porter's five force model is another
significant literature in mus business development proposal. It had
enabled for analysing detail of competitive environment and applied
for purpose of understanding potential profitability and business
attractiveness. It has been performed through consideration of stages
of industry life cycle and multiple theories offers suggestions that
profitability and competitive forces are directly influenced through
stage of specific industry (What is Five Forces Analysis?, 2018).
Lastly, this model helps me to analyse model which provides
explanation about industry with capability to sustain at different
profitability level.
The third literature is about break even model which is total
costs is equal to aggregate of revenue. The total cost consists of both
variable and fixed cost as it is very important for identifying break
even point to help in process of decision making. It had given
important aspect of my business plan and leads to determine cost
structure and units required to sold in order to recoup cost or to make
margin.
Furthermore, this literature of the business model canvas is
strategic management which had leaned my start-up for purpose of
developing innovative or documenting which exist in business
models. It had helps me to give visual chart for description of
elements of firm or product's value proposition, customer, finances
and infrastructure (Salomon and et.al., 2018). In short it had helped
for designing concept of business model and guided to understand
that how value is formed and it could turn into revenue.
5

Your Knowledge The knowledge I attained throughout the project I undertook
is highly extensive. There is consideration of application and
combination of different subject matters and learnt entire course
especially about STP model, strategic management, value added and
specific features, research methodologies, feasibility research,
competitor and organizational analysis, financials and business
models. I have considered that all knowledge which I have acquired
with these subjects is critical in everyday decisions of business what
we have undertaken. This knowledge has laid and designed
underlying foundation which had enabled me to take the best business
decisions.
On basis of STP model, I have attained deep information of
strategic management about its element to develop effective market
strategy. In the same series, while performing feasibility study I have
carried out understanding that how could I carry research exercise
along with application of multiple theories. In order to this, I could be
capable to determine relevant opportunities of business opportunities
with consideration of competitive forces and external environment. I
had laid equal weight to give attention to company threats that
business might be directly exposed and then I have devised strategy
to manage risk along with mitigation about determined risks.
Simultaneously, I have recognised about significance for purpose of
building competitive advantage which is directly based on determined
strengths of companies so that it could better compete and outperform
the recent incumbents.
Furthermore, I have acquired information related to value
added feature I had attained that how business could retain gain and
method to lead in this industry with unique service positioning. This
had indirectly helped me to know factors which will be effective for
purpose of growth and profitability.
The knowledge which have gained through MBA that directly
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complements about strong knowledge I had in finance. As there must
be presence of broad knowledge is very useful to discuss and analyse
complexities of business issues and opportunities. In the present
scenario of complex and dynamic business environment as it is very
crucial with essence of strong foundation in different subjective
matters. This will enable for viewing business in broad perspective.
The most important aspect I have gained from my project is about
food industry information of Poland and India as well and best is all
about species.
7

Your Learning The important context of any work is about learning, as
without learning each aspect is useless. The Executive MBA program
has offered me a broad spectrum about academic knowledge but with
other management skills is mandatory for overall personality
development. Conversely, soft skills are paramount especially with
objective of position and potential as high position in the coming
future. As with various programmes of MBA, these courses has
objected about preparing executives along with top management
position with numerous management skills. With this experience,
throughout the entire course, I could share that learning has impacted
different personal development which is stated below:
 This had laid me to know about better through personal
characteristics as with these assignments and carried task, now
I am better equipped to be highly open minded for multiple
innovative ideas and to manage for developing strong
analytical skills and prepared to face the risks. Now I could
say that I have broad information about strength and weakness
with capability for continuing about learning for addressing
my weak areas in efficient aspect.
 Similar aspect, my knowledge with what I understand and
know is very broad as this course had offered me with new
insights for instance method to analyse new markets and
information to attain and include in this particular proposal
and to accomplish with other people along with significance
of networking to share and obtain business ideas that how to
design a business plan.
 Furthermore, I have attained particular management skills
along with broader experience as with presence of various
discussions, interactions and tutorial with reference to my
peers, colleagues and students had enabled for purpose of
developing key skills such as solving problem creatively. In
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this aspect forb solving problems had led me for determining
opportunities with failure of conventional thinking. This had
helped to be encouraged and for extracting perspective for
coming up with innovative solutions along with formulating
plan to overcome the obstacles or to reach objectives. It has
indirectly leads to organisational innovation which had
approached me and empowered for process of change for
observing creative solutions.
 It had led to motivate employees which helps to gain
competitive advantage and success as well and improved
communication and this will build and maintain good
relationship along with effective teams.
 In the present scenario, leadership skills are very important for
setting and to attain challenging objectives, undertaking swift
and decisive action and to outperform competition.
9

Critical Thinking and
your ideas
This business proposal had offered me opportunity for
purpose of reviewing literature and secondary sources as well. With
conclusion of this report , I reach to opinion about my stated
discoveries are highly crucial for acumen of overall business. The key
aspect related to my business development proposal as launching
innovative concept as on 1st stage this was huge challenge and for
creating other model as traditional model is placed in local context.
Furthermore, with research of different applied business models
helped for understanding of key merits and demerits of every model
with review of multiple academic literature. In this aspect, I have
managed for coming with business model which directly incorporate
about multiple critical concepts which are stated as follows:
 I have designed a model which lays special emphasis of
relationship for long term perspective and repeated customers
as well. It helps to attain success by extracting customer
segments, core strategy, cost structure and revenue stream as
well.
 Simultaneously, model was created which helps in analysing
threats of new entrants, competitors, substitute, bargaining
power of buyers and suppliers in spice industry in Poland.
 Furthermore, there is creation of model which combines major
strengths of multiple strategic partners along with network s
which I have determined in my study.
 Moreover, I have articulated model of break even analysis for
purpose of recouping and recovering its initial cost and
presentation of revenue and cost on basis of business which
would be highly effective on basis of determining aggregate
of revenue. As I have set objective on basis that this would
reach at break even to operate within 3 months .
 On basis of outcome related to ambition vs ability for purpose
of extracting difference among these could be highly effective
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for purpose of analysis and understanding with context to
particular dataset.
 In this aspect, I have considered outcome of feasibility
research plan where estimation of consumer and research is
indicated positive response to deal with spice industry. I have
attained for upbringing potential demonstration over
capability to meet targeted objectives at particular time.
Henceforth, to ensure about attractiveness of particular
business model related to target audience, these models were
completed with marketing strategies which leads to improve sales
revenue of Masala-ae-Pakwan for operations of long term
perspective. On the contrary, there is need of best time frame to frame
and developing strategies to generate resources, knowledge and
details on basis of alteration in environment. With reference to target
audience, I have considered online marketing techniques as it
effective to offer among mass audience.
Each of these strategic aspects are directly compiled
structurally with application of business model canvas. It had enabled
me for structuring my business ideas and findings enables about
devising strategy with objective to raise rate of market penetration
and tactics to increase switching cost for purpose of safeguarding it
longer term.
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Barriers met At the initial stage of this assignment, I faced challenge to
select right topic, industry and location of this business. I was
informed by tutor that because of limited time and innovative process
of ethics, primary research could not be completed in appropriate
time. I have considered this as major barrier I faced for completing
this assignment. In the same series, I was challenged for selecting
appropriate research methodology to move forward as each aspect has
its pros and cons so appropriate selection was difficult for best
implications which will lead to attain success. The existence of
limitations was due to various constraint on research design as in this
context, I have drafted factors which affected on my findings of study
are stated below:
Problems on basis of sample selection as with context to
questionnaire, I did not have appropriate access for purpose of
participant's geographic scope so sample was not able to show
outcomes of general population so this would lead for creating bias.
In the same series, there was lack of previous research study of this
particular topic whereas referencing and citing of past research
consists of literature review. Usually, past study gives theoretical
foundation related to business idea as there is limited scope for this
research of specific topic, there might be need for developing whole
typology for this research.
Simultaneously, there is lack of interaction by me and
government institutions and other business. In this aspect, outcome in
substantial amount of data was not tapped. According to my opinion,
interactions program must be appropriately implemented with context
to specified parties and establishments on regular basis. The problems
would be highlighted as they must be researched as its data
acquirement for purpose of performing research as it is highly
beneficial.
In the similar aspect, I had encountered difficulty about
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scientific report of spice industry in Poland are not available, as it is
small place where it lacks relevant reports of market so in this context
I relied on reports of other countries. As I stated above, limited time
as research involved surveying people I have limited access about
specific respondents so per need to redesign or restructure in unique
aspect. As I have used both primary and secondary resources due to
limited access, I was not able to perform primary data for high
accuracy so I have given high weight on secondary so this shows
reliable finding along with validating this as limitation. Furthermore,
major barrier is related to scope of discussion as I have not attained
expertise for research or to produce academic papers on individual
basis. So for this, in depth study and discussion's scope is
compromised on such level as compared to scholars with best
experience.
13

Your Professional
Development
This course had helped myself on basis of multiple business
and management skills which offers direct contribution for purpose of
professional development. On basis of overall aspect of learning
which I have discussed in this report as per particular skills developed
are stated in brief aspect. Simultaneously, I have developed
information about spices industry of both Poland and India as I have
articulated that food industry had attained growth in the present
scenario.
I have learned to address problems in so in this aspect,
sometimes with application of analytical techniques but with
reference to other occasions it is required to be highly creative. This
is related to introducing marketing strategies, I have considered here
online marketing strategies, which is current trend of this present
generation. As consumers are not affected through traditional
marketing tactic as it is convenience and quick service and even low
cost for purpose of operation but lead to wide reach. With reference
to financials, I have forecasted profit and loss statement, financial
position and cash flow statement. I have articulated outflows and
inflows of business which represents cash receipts and payments
generated which lead to raise in amount of cash and fall as well.
In the similar aspect, employees are motivated and for raising
performance, skills to motivate employees by ensuring that
employees are involved with organisation and performed efficiently
as they are very important. Furthermore, to build relations and
communication in effective aspect I have grabbed that businesses
must flourish and to be highly sustainable with requirement of
creating positive energy in lives of people. Thus, positive relationship
along with effective communication channels form positive energy.
On basis of building effective team, I could elaborate that it is
determined with capability to build interactive and coordinated effort
among each team member. With context to experience from my entire
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course, it has provided outcome to build effective team leading to
performance which is highly efficient.
While undertaking at level of management, the responsibilities
raise so role of leadership is expected through superiors. I have
learned that various styles of leadership exist and we are required for
extracting the best combination for ensuring about effectiveness along
with capability for influencing work climate in positive aspect.
Lastly, most interesting part I have developed is related to food
industry of both India and Poland as I have developed business of
Masala-E-Pakwan. Thus, I firmly believe that management skills are
explained in crucial manner about today's dynamic business
environment to enable and implement the appropriate decisions.
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Objectives The objective of my business development proposal is to
coming up through innovative concept of business, feasibility test and
developing business model which creates superior value proposition
along with attractive stream of revenue and concluded through
forming business plan of high level to reflect that how I have planned
for operating business. I have set objective for becoming popular
brand in Poland with estimated market share of 60% within 10 years.
Simultaneously, market needs are analysed and to fulfil with products
of best of quality. Further, needs of buyer are measured as per desire
and for delivering products of best of quality. Simultaneously,
business growth is improved according to increment in revenue by
8% in quarter 2.
Now I have completed my this course, so I have attained
confidence to say that knowledge I grabbed in this entire MBA
programme which is vast and enabled me for purpose of developing
essential skills of core management. Thus, I could conclude that each
objective has targeted for improving competencies has been attained.
I could mention easily about multiple instances what I have applied
about knowledge I have gained such as preparation of detailed
financial and business plan for selected organization. In the similar
aspect, feasibility analysis has been carried of innovative investment
project. The plan for amalgamation of two departments within
business, plan has been devised with consideration of change
management and people conflict.
On basis of identifying validity of business proposal, I have
efficiently worked on identifying proposal's validity, service and
industry feasibility. Further, I have set there is presence of
investigation to business setup, resource requirements, core
competencies and various strategies of business plan. I have shown
that business with requirement of different expenses to attain
operational task of daily nature. Simultaneously, this is expected that
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business has accomplished growth in the future along with high
avenues with objective of financing and directly opened via internal
accrual with term loan.
For purpose of completing task, business idea has been
developed of 5 days and then business concept in 7 days. The
business model is developed in 12 days and operation plan in 5 days.
Furthermore, business plan was finalised in 17 days and plan was
completed in 6 days. The overall time planned for attaining objective
is about 62 days.
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Findings & outcomes I have considered result of this business development proposal
which is very vital for me as this shows methodological and diligent
process built on different academic theories along with learnt
framework in entire course. This is highly pertinent about absence of
appropriate strategy mix of business and on the contrary, I felt that
adopted methodology is highly robust which could be applied for
tackling different business aspects. In this aspect, I have articulated
that for purpose of attaining success in Poland for introducing Indian
spices as this is very important factor to retain advantages.
Simultaneously, I have planned to improvise business growth
according to revenue by 8% in quarter 2. The research plan comprises
different factor to be addressed and monitored for effective advantage
of operations.
There is extraction of cost could be implicated with estimation
of every activities that would charge against the operations to import
charges is going to make through business as 59800, advertisement of
4800 etc. The best business has been initiated which is innovative as
plant would be set up as business idea as proposed to deliver efficient
cost with Indian species. The business idea is directly proposed with
reference to underly assumptions with attainment of time scale with
concept of business along with multiple opportunities. In this aspect,
there is consideration of future and present employees to produce
margin, success and for gaining brand positioning in entire industry.
In my opinion, this study would offer help to other future
researcher with appropriate valid along with reliable data.
Furthermore, I have drafted business canvas model with broad
information of every component. Logically, it has proved that
evaluation of company, industry, market and services with break even
analysis which is very important factor for each business.
Simultaneously, each critical business factors which would ensure
business viability with exit strategy as well.
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Thus, I have learnt that to be highly open minded with context
to innovative ideas and to extract for applying academic theories and
models with huge diligence. This would help me for exploiting the
better business opportunities and for mitigating risks along with
overcoming obstacles.
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