Composing An Excellent Reflective Essay On Business Communication
Reflective essays are great for most people, especially students and younger adults. However, it seems that not too many people are able to grasp the concept of a great reflective essay and hence the results are not always optimal. First of all, we must first understand what a reflective essay means. In this case, it is actually suggested that you should describe the event first and then evaluate the process; hence this is known as the reflection process. Far too many people jump straight into the conclusion and simply leave out the description part. Bear in mind that all parts of the essay are equally important and you need to place equal efforts on them! Also, it should be noted that the reflective part or the evaluation process is extremely vital. There would be no point for you to write a reflective piece of work if you don’t know what can be improved and what you would do better next time.
Now, if you are attempting to write a brilliant reflective essay on business communication, it is suggested that you should first go into details about the topic. You need to go and develop the argument. It would be a good idea for you to go for a case study and simply write your essay based on that. First you need to describe the event thoroughly and talk about it in your honest opinion. Again, there really aren’t any right or wrong answers, as it is based on your own point of view. However, the description part isn’t exactly difficult. Once you get that done, it is the evaluation bit that can be rather troublesome. You need to be able to think outside the box and develop new ways to improve the work. Of course, the process will be complicated, and it is normal if you cannot come up with a solution every time; but be sure that you acknowledge this limitation.
Indeed, the topic of business communication may be a bit more difficult for some since the concept may be hard to grasp. Therefore, the importance of knowing the topic cannot be stressed enough. Once you have a basic understanding, writing a great reflective essay on it will never be easier.
It is not easy to understand certain things until you really undergo it. Entrepreneurship is one such thing. Understanding business is not an easy task. May be education and reading about it develops your knowledge but you will never learn until you run one of your own. I gained such a wonderful experience of running a business and gaining knowledge through this course.
Learning and applying:
Being a student from Business Management for me Entrepreneurship was a testing ground to try every principles of Management I learnt in my other modules. My learning gave me a guided approach towards business. The financial resource management and marketing were two major subjects which I put into test in the entrepreneurship. The course being very practical and the investment amount being minimal it gave me courage to try new things, as the risk is minimal. Apart from this the class room group were more useful in gaining knowledge.
An effective class room structure:
Sharing the class room with the Creative economy students was an added advantage to this course. Being a Management student it was very interesting to see students developing new innovative products. The class room itself became a forum for variety of businesses. So this provided the opportunity to learn mutually from other business. As everybody shared the same class room it was an opportunity to see everybody’s ideas transforming into products and becoming a reality. Apart from that this experience also gave an insight of demand based products in the society. It was interesting to see products with less manufacturing cost gain demand and profit from sales. Though each of the group was competitors, we gained more knowledge through sharing the experiences and seeing each other’s business experiences. I personally feel that the blend of the creative economy students with management students is a right blend to develop new businesses.
Blogging is another new experience which I gained through this course. I never had the previous experience of writing an open professional blog .This has helped me develop my writing skills. Apart from that the blog writing has enhanced my thought processes. The ideas and thoughts which are conceived in mind are developed when we write it out. Moreover I believe that this blogging experience would stay as a document of my first business experience.
Above all the most I gained is my personality development. This course has helped me develop my confidence and communication skills. The opportunity to meet different people develops one’s character and behaviour. The market sales experience helped me reach out to different type of customer’s .A true entrepreneur is one who is able to convince others about his idea. In that way communication plays a major role(Sai,2011). I took use of the opportunity to speak to as many customers I could reach.
Working on Ideas:
Businesses always are born on ideas. As a student interested in management naturally I was always interested in knowing the business models and the functional advantage of businesses. Despite this running my own business has always been an idea at a distant. But having this experience of running your own business it has triggered me to work on any business idea and do a feasibility study. Feasibility study for any business is crucial and this entrepreneurship experience has given a wide lesson on that area.
A new innovative idea in any existing business can make a wide change. This can be seen in history in development of new products(Ellie,2012) Most products now available in the market are part of evolution than stating it as new development. They evolve from the existing product or can be a merger or two or three existing ideas or placing one idea at new place or replacing the existing idea with others. Development of Dyson Vacuum cleaners can be an example. But for all these the essential thing that is required is to develop your ideas and to work on demands.
Demands are mostly hidden and until a product comes into existence certain demands can never be realised. Until iphones were released we never realised that a cell phone would replace laptops. This entrepreneurship experience helps me realise that.
Managing your money
For any business to run successfully managing the cash flow is very crucial. The cash flow forecast is very necessary to determine the company’s performance .This also helps to develop the business model. Pre determining of such factors is essential for any successful business. I gained the experience of developing the business revenue model, finance model and do the cash flow analysis. Determining the revenue model and counter checking the model at the end of the business was very practical and helped to know about the factors which shouldn’t be pre determined and factors which are independent of time.(Sai,2011)
Pricing your product is a critical factor for your products success. Any product which is over charged might lose its customers. And its the same when it comes to the case of under charging the product. The danger in under charging the product is that the product loses it prestige and people start doubting the quality of the product. This might contradict with the sales offers which come up at very reduced price and attract large number of people(sai,2011). The reason behind that success is that these products have once proved that they are of high cost and having a lessened price would attract more customers .The major pricing factors are determined using the manufacturing cost,competeitor,supplier(Sharan,2001)
1. Manufacturing Cost:The first way to determine the basic pricing is to determine the cost involved in manufacturing. By not taking this in to account, any product under sold this price would end up in loss. This should be set as the minimum price for any product.
2. Competitor pricing:Competitor pricing is another crucial factor. At most cases many seller will avoid selling under the manufacturing price. And analyzing the competitor pricing is also one way to understand the markets.
3. Demand based pricing:Pricing factor most commonly depends on the demand. The demand can be studied by market surveys and questioners. Apart from that we can determine the demand by learning the sales volume of the competitor products.
Pitching one’s own idea plays an important role grabbing others attention on the business. The workshop on Business pitching helped develop my ideas and post it in a way the key factors are communicated .I also learnt that the key factors are not only important it is also crucial to post it a very innovative and engaging way. The dragons den experience was a good experience.There are three models in business pitching. They are Murder Investigation Strategy, Slowly, Slowly Catchy Monkey and Middle-Distance Racing.(Philips,2011)
Developing a Business Report
Writing a business Report is as crucial as the business pitch. By writing up the business report for a business we had run it gave me knowledge on factors that has to be mentioned in the business report. Moreover it also gave me learn about the factors on which any investor would focus on. Projecting the finance part was very important to catch any investor’s eye, as it describes the business all in one word. The documenting part of the entire business has helped us realise and identify the mistakes made in the business. For example in our business the mistakes we realised was that the investment made on prototyping was more and quality of products used for prototyping was high which involved huge costs.
A very important quality for a business person is to learn to work with different people in an effective way(Kevin,2011). In this way I have had my experience through this course. A good manager is a person who learns to work under constraints and make efficient use of the resources available. Entrepreneurship at Kingston is a similar scenario. With the limitation on money to be invested and with the group mates all set and the environment known it was the best to make out of it. Leadership quality is acquired ,developed and used widely only while working in groups(Charry,2009)
As a future plan the course has helped me realise the entrepreneur in me. Apart from that it has helped me develop all the skills required for an entrepreneur. Experience is a good lesson for everybody to learn from. And Entrepreneurship has given me the best experience of my course. I intend to set up my own social enterprise in the future. Through my experiences on working on ideas in the course I think this will help me analyse the need and come up with the best business model which will benefit the society through its service .Group working has given me a good experience in working with different people and I hope this would be helpful in my future business. The business pitching workshop has helped to develop my pitching skills and I hope to get significant funding for my business through this.
Thus in one word I would say that this is a life time Experience and I appreciate myself on choosing this course .Thanks to my fellow class mates and our module leader for making my experience wonderful.