I the process of the business planning.
I was commissioned to write a reflective report on what I’ve learnt in the process of the business planning. The purpose of writing this reflection essay is to readdress the skills as well the experience that I had gained while undertaking this assignment.
In this report, I have described what are the skills and experience that I gained and also the knowledge on wide area on business and commercial awareness which will be very useful for my future. I truly believed that the skills and knowledge that I have gained in the business commercial awareness class will definitely contribute to my future employability. I was grouped in a team of five for my group assignment where we are required to submit a business proposal to turnaround Facebook and improve the image and reputation of the company. When the task was assigned and the possible barriers in searching was identified, we as a team consulted the way that we are going to capitalize on our strengths in order to reduce our weaknesses and also in what way to exploit the expected opportunities and remove the threats. Even though we are assigned to work individually on our part, but I have act as a team in helping my team mates in their parts and vice versa. This has definitely assisted me in learning as well understanding each of my members approach. We had continuously kept in touch and communicate with each other through weekly meetings and whatsapp messages.
In result, it has increased the coordination among the team members in maximising the team performance (Julian ; Ahmed, 2012). I was able to figure out during the business commercial awareness classes that there are many aspects have changed in the globalization of business due to the opportunities and threats. In my point of view in understanding the global market place, it has become very competitive because of the increases forces of the globalisation, advancement in technology and also growing in the role of internet in every professional and lives of the peoples.
This has affected the companies in making their decisions of viewing every aspects. Not only that, I found out that new products development in the international markets faces more challenges then the domestic markets because the product life cycle is significantly shorter in the international markets since the level of competitions has increased. As organisations expands their operations across a wider geographical base, they will be fronting a progressively complex range of scenarios (Douglas ; Craig, 2011).