Expert answer:Need management help with an individual reflect re
Answer & Explanation:You are required to
write an individual report reflecting on your work in connection with
the module up to the date of assignment submission. The aim is to encourage you
to develop a critical approach to your work, through carrying out an analysis
and evaluation of your group business plan, its key elements, and of the
effectiveness of your own contribution to its development.
The assignment
should include:
·
A brief introduction to the Made in Brunel
product or service, forming the basis of your group business plan
·
A
brief summary of the key elements of the related business plan on which
your group has worked, the underlying theoretical issues and the linkages
between the plan and the commercialisation of your group’s product
·
An analysis and evaluation of the strengths
and weaknesses of the plan and suggestions as to how this could have been
improved
·
An analysis and evaluation of the strengths
and weaknesses of your own contribution to the work of the group and to the development
of this plan
·
A summary of the main benefits that you feel
that you have drawn from your participation in the module and the group
business planning process, including academic and anticipated employability
outcomes
The assignment
should be written in report form and should be approximately 1,500
words in length. Product information link:individual_contribution_summary.docxposter.pdf
individual_contribution_summary.docx
poster.pdf
Unformatted Attachment Preview
Business Planning Individual Contribution Summary
This individual summary is about what I was contributing within our group Business
Planning Project. I will go through three parts to explain what I have done during the
project and prove myself based on relevant appendix.
Main duties
This subject is required to finish a group project has been allocated a project from the
Made in Brunel series, five members maximize for each group. But at the beginning,
we have extra group members thus, I was communicate to other groups then exchange
each group members in order to balance.
After members and topic have been confirmed, we started to do our amazing Business
planning.
Our topic is to do a business planning for ‘MUD HOG’ what is a caring tool created
specific for musical festival. According to study guide requirements, our planning
should including five parts that showed on the blackboard.
I was in charge of Finance issues, my responsibility is based on others research to
create the profit and loss, break-even and cash flow forecasts.
Firstly, we decided this cash flow forecast is only for one year, therefore I have create
an excel form to record what we would do within this year. (See appendix 1)
Secondly, I have discussed with my members about produce cost, transport fee, stock
rent, and advertising campaign and so on, in order to forecast how much we would
spend for our planning.
Based on previous marketing research and cash flow forecast, we could reach the
point of break even at second month after 208 products has been sold. And start to
make money after selling above this number.
In order to complete my part professionally, I was ask my friends who are learning
Finical and Accounting, he has sent me some readings related to this part.
Time Reminder
As mentioned before, this is a group project, cooperation is very important. However
each member’s work’s schedule is different, so at the beginning, I was suggested to
establish a weekly to do list we plan to accomplish, their order of importance and an
estimate of how long each tack will take. To supervise and urge the work progress of
each group and better ensure that we can finish the job efficiently.
Furthermore, I was created a group chat, in order to update latest news from black
board, also easily for communicating to each other.
Meeting Recorder
Though we are in charge of different part, but each part is relevant. Thus we need
discuss often. So I was recommended take group meeting at least twice a week, to
complete our project quickly, on the one hand if someone have troubles about their
individual part, we can brainstorm together, more easy to solve the problem. I take the
initiative to assume the responsibilities of the meeting record. In order to make every
meeting efficient and valuable, I was created a meeting record sheets (See Appendix
2), recording the most important part of each meeting, and E-mail to all team
members after meeting.
To sum up, as one part of group, above are my main contributions to this project.
However if our group members are not support and understand what I was suggested
to do, we couldn’t finish this project on time. Thus thank you to everyone that
contributing in this project, no matter what did they do.
l
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Group Members
YUTING CHEN
YANYAN LI
YUQING QIAO
XUBING HAN
RUOYA WANG
1341891
1428013
1435459
1433244
1432430
Background
1.
There are around 20 music festivals launched in major cities in UK.
2.
Over 840000 people need to camp at the music festivals every
year in UK.
l
Problem
The topographical and synoptic conditions bring a large problem to the
festivals every year, especially the baggage transport in sites.
Aim and objective
l
The project’s aim is that generalizes and popularizes the mud hog in
UK in 2016 and its objective is that let the mud hog become the
necessary product in the UK’s 2016 music festivals.
STP
Marketing Mix
Ø Challenges
• similar competitive
products
• Technological
innovation
• organizational
effectiveness
• organizational strategy
and restructuring
• Commanding tense
situations
• other involved
emotional factors
• cooperative
relationship
Recommendations
Ø
•
•
•
•
•
•
Actions
Identified needs
classified the key areas
roles&responsibilities,a
nd the skill sets
strategic and
operational planning
additional
roles,contingency
planning
marketing orientation
Short term:
• Training staff.
• Feedback analysis.
Long term:
• Innovation Product:
improve usage rates.
• Strategy: Functional –
Emotional
• Service: self-service
product (Barclays cycle)
…
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