Critical Reflection In Business

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Introduction: This critical reflection seeks to provide an in-depth analysis of how the entrepreneurial tools taught throughout this semester has assisted me in developing insightful information towards my contributions of the business plan. The process allowed me to identify, clarify and test the credibility of my personal insights. Entrepreneurial tools being assessed are customer experience mapping, questioning and idea networking. The paper started off with a detailed introduction of the actual product that my group have finalised on, then followed by comprehensive evaluations of the tools. Lastly, it ends off with a reflective conclusion with valuable learning points. All in all, it improved the quality of my contribution towards the project. The product: First of all, in order to get into further details of the tools used to discover and develop the valuable entrepreneurial opportunities for our product, I would like to address the actual product that my group are pitching. Our group came up with the idea of multi-function restaurant table tablets, compromising menus, payments and entertainments into an all-in-one system. The development of our idea start off from the customer experience mapping that we have conducted with some customers. Our group have brainstormed a few different ideas, but we have settled on this final idea. Reason being, we have learned from the course that a good business model yields value propositions that are compelling to customers, by creating a sustainable advantage and delivering significant value and effectively transforms payment received into profits (Teece, 2010, pp. 174). Therefore, with the valuable insights we have gained from what we have learned, our group then believed that our produ... ... middle of paper ... ...ew it in different perspectives. The outcomes were surprisingly insightful and greatly enhance my contribution towards the development of our business plan. It allows me to look back on what has been done and learned from what did or did not work out. In other words, it helped me to see both the positivity as well as the negativity in our ideas and thus stimulate improvements. This assignment also cultivated a sense of team spirit through teamwork and boost creativity through the development of thinking outside the box. Therefore, this assignment has definitely aid my knowledge in developing skills such as writing up comprehensive critical reflection and evaluating the risks of certain business ideas. Aside from that, I have also managed to deal with people from different cultural background through teamwork and develop unique business ideas and market strategies.
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