Management

Entrepreneurship
Student’s name
8/12/2019
 Entrepreneurship 1

Entrepreneurship mainly highlights about the capacity and the willingness to develop, organized
and manage the company along with the risks of generating the profits (Burns, 2016). This is
mainly taken up by the entrepreneurs whop mainly takes actions to solves the issues , bring
people together, build new strategies and constantly takes actions to ensure the business progress
along with the world progress (Bird, 2019)

By using, the Gibbs model of reflection, which comprises of six stages, helped me and my team
to know about the various loopholes while working within business, I also analyzed the internal
strengths, weaknesses and current and upcoming situations for the workplace and solutions for
the doing well in future (Kuratko, 2016). The situation was to create a business plan such as
opening an organic based restaurant with various different techniques and methods and attracting
the large base of customers in short period of time. The idea of opening a healthy and organic
based restaurant came up by seeing more health conscious people, by seeing their specific diet.
My four partners and I thought of opening a new restaurant, which delivers organic food to the
customers who are health conscious (Husebq, O'Regan, and Nestel, 2015)

Description-

This report mainly highlights about the reflective writing upon the feeling and the concept based
on the my entrepreneurial skills. This reflects about the business plan, which mainly highlights
about the last experiences, which influenced us on deciding the start up with the some new ideas.
Therefore, Gibbs model of reflection or this reflective cycle helped us to think systematically
about the experience and the activities, which were taken into considerations (Qin, 2016)

A logical conversation were taken into account in between me and my team members in which
we discussed about the recent trends which are connected with our business idea. The roles
which were to be performed were decided among three of us that which activity which person
will be performing. Other than this, to collect the outer information, which mainly highlights
about the other businesses who deals in similar aspects share their work experience with us, and
we also got various opportunities to ask them about the issues which arises in this aspect and also
got various feedbacks about our business ideas. Hence, while considering the results it was seen
with time that many people are aware about their improper diets and now they are getting
conscious day to day. Therefore, by seeing this, my team members and I was very sure about the
 Entrepreneurship 2

success as more of people will shift to the dietary foods and for that, our restaurant will serve
them the best. By seeing so many ups and down while creating decisions was a bit challenging
but on the other hand I was seeing various opportunities to work with the different mindsets and
circulating a strong idea, which is feasible and widely acceptable by all (Hannon, 2018)

Feelings-

When we thought of this startup, we were very much excited and looking forward to the
response when people got to know about our idea and the servings. For this, we step wise, started
researching about the market trends, which all other deals in with the same businesses in other
countries and what cost and materials are involved in it. Before working on this project we
thought it would be simple and easy and it’s a new concept but I and my team realized it
afterwards that it requires a lot of research and that wasn’t that much simple. Our biggest fear
was in concern of financial sector as well as our idea will work or not as people are conscious
about their diet but whether they prefer to have healthy food from a restaurant was a big
dilemma. I realized that coordinating the efforts of all the team members towards the change was
a difficult task. I was not able to handle the difference in perceptions of team members and was
facing complexity in successful accomplishment of the business idea (Harms, 2015).

After realizing the complexities, I have taken a strategic move to motivate the staff members by
rewarding and proving them the opportunities to develop constructive ideas for taking the plan
further. This helped me in integrating the efforts of all the team members towards the common
goal. After this, things were becoming clear on what we are expecting is being fulfilled. But in
concern of financial aspect, at an earliest stage only I was concerned about the startup costs but
after listen to this, my three of the partners were against it they thought the every first thing is to
collect information about the groceries which will be needed further. Nevertheless, later I
realized that rather than arguing with them I gave them the proof that at the beginning of the
business, person needs to collect all the information after the knowing about the market,
customers likings disliking, preferences, choices. All this can be known through the marketing
plan accordingly the company tap those areas and stores, which keep such kind of raw material
which are preferred by the customers. During this phase, my other two-team partners were also
expressing the views, which makes the conversation a bit argumentative and leads to
misunderstanding and discouragement among the team members but later I stopped and allow
 Entrepreneurship 3

my other members to speak and present their views. By this I got to know that they are also
participating actively and also further giving them the chance to monitor my opinions and makes
the business model logical and successful.

Evaluation-

If we talk about the entire situation, it was one of my favorite experiences, which I faced in my
life. It was totally a sudden and anonymous situation, where we just observe people nearby us
that and got a new idea to start up with the new venture new people around us and we four of us
expressed our feelings to each other and gave a thought to start with a different concept based
restaurant. Every business has good and bad side and so with us. As, our business mainly was
targeting the health conscious people, their irregular eating habits, obesity and much more
(Arafeh, 2016) In this case I as a nutritious expert, with my some more creative thinking and
knowledge wants to makes my business model unique and ideal, which made the situation more
realistic and gave the expected results. Moreover, the concept of team members also gave me the
strength to take and respects my decisions too and from that, a combined and the satisfied
decision were formed. Hence, such aspects tell us the importance of team performance. Hence,
this opportunity gives all of us the valuable lesson about the group tasking rather than opting for
the individual performances (Kirzner, 2015)

Analysis-

From the above description, the analysis, which I have done, was that I learned so much from
this business plan setup. By performing in the group of with the new team members, their
experience, their mindset, their skills and innovative thinking strategies gave me the new
experience which was totally motivating for me to think of different business with them. Not
only this, their behavior towards the plan, communication that took in between us also gave me
certain learning that how to deal in with the situation when you are in-group or individual
(Holbeche, 2015)

According to my learning and being, an expert in nutrition was totally different from making
people aware about things. As reading is much easier than performing and convincing people
that what is good or what is bad for the health. The calorie count also majorly affects the health
but general people did not know more about the adverse results if they will have more of calorie
 Entrepreneurship 4

at a time. Implementing what a person studies is difficult in comparative to the books (Smith,
and Roberts, 2015)

From this, i have learned a lot that people out there are not only the aware about what they are
eating and what all things will majorly affects them after a certain age but they are still
continuing with the same diet and fooding lifestyle and processes. Moreover, making them aware
about the same was also one of the difficult tasks for all four of us. Hence, it was seen that
developing a business model was not at all easy for us because imagining and seeing the
different reality makes a lot of difference. It is very important to firstly predict the consequences,
which later values an idea to set up a new business venture. Not only this, other necessary
aspects such as budget, finance, costing aspect also majorly affects the new business venture.
Hence such limitation of circumstances not only made us aware about the economic conditions
but also made us work over the costing system and win over it (Davis, Hmieleski, Webb, and
Coombs, 2017)

Other than this, while analyzing, I also thought of the team work as every team work needs team
coordination in order to reduce or diminish the issues and improves the working condition. Not
0nly this, being flexible according to the situation is also mandatory. Other than this, being
persuasive, motivated and motivate others to guarantee the team and the business plan success.

Other than this, open communication in between the team members, open opinions and
sometimes compromise in certain or the general vision area also makes the team performance
better and through this, they learn to collectively perform and face any situation, which comes in
their way. Moreover, being resourceful is also one of the mandatory aspects, which the project
leader should have as it helps them to fight against the challenges or uncertain conflicts and solve
the issues effectively and efficiently (Huq, and Gilbert, 2017)

Lastly, there is no room for procrastination in business. In this case, leader should not be
hesitating while making decisions; they should grasp opportunities, which come their way.
Similarly, in this leaders with the help of their team members should communicate the coming
opportunity and should work over it rather think much as losing that. Therefore, it not highlights
about the market opportunities but also focuses over the team performance, as it is essential part
of every business (Ojala, 2016).
 Entrepreneurship 5

Conclusion-

From the above, we can conclude that performing in an group majorly leads to the success of the
planned business. With some creative knowledge and innovative idea makes the business plan
even more easier. Not only this, having full knowledge of the market is also mandatory with the
plan therefore, in future it badly hits the success of the planned business (Korte, Smith, and Li,
2018)

My personal views in respect to conclusion mainly talks about the team coordination, group
knowledge, creative ideas, experience of all matter a lot as each person knowledge, experience
matter a lot while improving the intensity of the idea that is being developed. Moreover,
increment in the individual’s performance and their participation in the team generate greater
results and sometimes the results may go beyond the expectation.

Action plan-

My further plan towards this business plan highlights about focus over the new market trends,
making more comfortable environment for the team and the other members while performing.
Moreover, according to changing trends, learning the new ways and the techniques,
understanding them and making the business model looks more realistic than before and also
ensuring more profits, success and reputation in the market.

Personally, I am also working on my skills like I am becoming more open minded and accepting
the change and the behavior of the others, respecting other team members thoughts, viewpoints
and ideas so that they should also feel themselves as the important part of the business. Other
than this, focusing of the changing trends, changing environment, studying and analyzing the
market is equally important. Hence, I thought to see all these criteria with positivity, being
passionate, by being confident and future oriented which will helps in removing negativity and
helps in attain the set target and actions accordingly (Neeley, 2015).
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References
Arafeh, L. (2016) An entrepreneurial key competencies’ model. Journal of Innovation and
Entrepreneurship, 5(1), p.26.

Bird, B. (2019) Toward a theory of entrepreneurial competency. In Seminal Ideas for the Next
Twenty-Five Years of Advances. Emerald Publishing Limited.

Burns, P. (2016) Entrepreneurship and small business. Palgrave Macmillan Limited.

Davis, B.C., Hmieleski, K.M., Webb, J.W. and Coombs, J.E. (2017) Funders' positive affective
reactions to entrepreneurs' crowdfunding pitches: The influence of perceived product creativity
and entrepreneurial passion. Journal of Business Venturing, 32(1), pp.90-106.

Hannon, P.D. (2018) On becoming and being an entrepreneurship educator: a personal

reflection. Entrepreneurship & Regional Development, 30(7-8), pp.698-721.

Harms, R. (2015) Self-regulated learning, team learning and project performance in

entrepreneurship education: Learning in a lean startup environment. Technological forecasting
and social change, 100, pp.21-28.

Holbeche, L. (2015) The Agile Organization: How to build an innovative, sustainable and
resilient business. Kogan Page Publishers.

Huq, A. and Gilbert, D. (2017) All the world’s stage: transforming entrepreneurship education
through design thinking. Education+ Training, 59(2), pp.155-170.

Husebq, S.E., O'Regan, S. and Nestel, D. (2015) Reflective practice and its role in
simulation. Clinical Simulation in Nursing, 11(8), pp.368-375.

Kirzner, I.M. (2015) Competition and entrepreneurship. University of Chicago press.

Korte, R., Smith, K.A. and Li, C.Q. (2018) The Role of Empathy in Entrepreneurship: A Core
Competency of the Entrepreneurial Mindset. Advances in Engineering Education, 7(1), p.n1.

Kuratko, D.F. (2016) Entrepreneurship: Theory, process, and practice. Cengage Learning.

Neeley, T. (2015) Global teams that work.

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Ojala, A. (2016) Business models and opportunity creation: How IT entrepreneurs create and
develop business models under uncertainty. Information Systems Journal, 26(5), pp.451-476.

Qin, K.L. (2016) How do entrepreneurs learn? the role of critical reflective practice.

Smith, J. and Roberts, R. (2015) Reflective practice. Vital Signs for Nurses: An Introduction to
Clinical Observations, pp.222-230.