Preparing a reflective report

Preparing a reflective reportReflective report is the report which covers variant stages of the strain envision that includes development, predilection invention, furrow propose development, generating the intromission and feedback. Also is private role and reflection of the meaning of descent plan to determine the acquaintance and our involvement in preparing the report which help the student to analyse the social unit process of developing backup plan from ideas developing to generation of plan.2. THE squad WORKOur business plan group was made up of quaternion members including myself and Saida M. Bandawe, Edna Mtema and Grace Sikaona with the help of our tutor. afterward we ready our group we planned to neat later on classes and discuss different business ideas from from apiece virtuoso member of the squad and we decide to pass water on the Trash Collection project after confirmation with our class lecture. The reason of choosing this project is to pr steady t environmental contamination in Mikocheni alliance as well as Dar es salaam urban center in the future.The roles distri al 1ion ere based on the champaign of specialization so as to be able to give contributions in the form of ideas to progress with business plan conceptualization. Criteria for distribution of roles were convenience, experience, comfort and awareness in terms of how things are done for the success of the troupe.2.1 The roleIn our aggroup we discussed entirely t awaits to waste ones ageher in order to give everyone a knock to suggest not only the t make they agreed to work on, but similarly to be aware on how to do the parts in business plan. For subject every week we had to work one task, everyone on her own and at the end of the week we pair to discuss the ideas and indeed conclude which is the exceed.The roles were as followsSaida M Bandawe did on operational plan and focus team and report writer.Edwardina N. Karugendo worked on fiscal plan and r isk assessment.Edna Mtema ,has worked on the business opportunity and industry summary of our businessGrace Sikaona has prepare the details on marketing and also financial plan.2.2 SpecializationsEvery team member specialised in those roles based on the criteria locate introductory earlier above which she felt comfortable to deliver the best of the ideas on the field. I worked on Marketing and financial plan as Im before long working in the bank as getment officer. It was easy to me to do financial statements for our business project.2.3 Contributions of team membersAll members participated actively in preparation of all the business plan from ideas to complete document, members worked together in all stages until successful submission of the business plan. There were different kinds of contributions from members such as voluntary report writing and collection of data a trolling different Municipal Council stationeries etc.2.4 Team forming processThe team forming in our class was done by each classmate looking lucifer she/he can work well and form the best group. After we form our group, the lecture ask each group to find intravenous feeding business ideas, then discuss with her the best based challenging, helpful to the society and not common business among four ideas.2.5 Efficiency of team workWe managed to finish our business plan as planned and submitted on while. The detail that we used to work together and discuss all as a group which has minimised complaints towards a person assigned on that task in case something went wrong or not clear.3. PROCESS OF IDEA mental home3.1 Arriving at the idea of the business planThe training we got at IIT on Small military control Development for almost six month, has made us to understand how to plan and start up a business and tell the privation of selecting a specific segment to focus upon.3.2 Choice from the manageable ideasIdea is a purpose or guiding principal. Our group had different ideas such asRe staurantTailoringTrash CollectionWe pertinacious to take the idea of Trash Collection project because we were concerned with preventing environmental pollution in Mikocheni society as well as Dar es Salaam city for the future. Also by considering the World environmental crisis, so by doing this business not only we pull up stakes be make financially but also we will play a handsome role in protecting our environments.3.3 Lesson I revealt from the process of idea initiation (Theories)Through business plan preparation I learned a lot and one is time consuming and a tedious work, one deficiency to be passion in a subject and impoverished his or her mind so as to grasp exactly the association that the subject carries.Also I get chance to practice what we learn in class from first year Diploma to my third year. For example a) Marketing theoryi) selecting a target market( A niches market)We chosen Mikocheni commonwealth as a narrow group of Dar es Salaam city resident but similar interest. (Barringer, B.R. and Ireland, R.D pg 318)b) Financial TheoryFor any enterpriser has to have four financial objective which arei) Profitability -Our companionship ability to make profitii) Liquidity -Our company ability to meet its short term obligationiii) Efficiency- How productively a firm utilizes its summationiv) Stability -The overall healthy of the company financial structure of our business, specific as it rrelates to its debt-to- equity ratios.( Barringer, B.R. and Ireland, R.D pg 222)I also learnt that sharing ideas with another(prenominal)s is very consequential as it gives a chance to students to examine the ideas deeply as a way to see if it can be implemented, possible merits and demerits, challenges and issues which need a close attention before moving into consideration4. PRESENTATION encounterIt is important to present a business plan because it builds a authorization and ability to express she/he ideas and views to the panel4.1 Importance of the p resenting the business planPresenting in a group might not be a good way instead in our class we had an opportunity for each one of us to present their business plan singly and each members has to present at least two slide, for me this was an excellent way as it helps us to build confidence in defending our opinions and thoughts when answering the questions elevated by the panel.During presentation I learnt the pastimeDuring presentation is important to be prepared and well organized, otherwise you will end up trembling and get nervous, and hence no massage will be delivered to the audience.In presentation one must focus on what s/he is going to accomplish with the requested peachy and less on towering up level markets statistics. Its important to hold presentation for less than one moment in order to maintain panel attention and not get tired or bored with the presentation.Also in presentations, awareness of the time available to cover important points within that period a nd maintain presentation flow. Ability to jump back into the presentation after having answered the questions from the panel,, where much light on solution of a problem was demanded.Presentation help me to builds more confidence as it was my first time to do presentation, and hope following(a) time it will be more enjoyable and much I learned from this presentation will help me4.2 Learning ExperiencesThrough the data track of small business development I have learned that in order to develop any kind of business someone need to understand the market opportunity either by finding the gape, detect the trend or solving the problem, then the next step will be the business planning.5. ALTERNATIVE SCENARIOSThe prediction of growth in our business plan was optimistic thus why we put our business idea in the market, get loan from EXIM Bank for the remaining part of the capital required in order to operate business and hoping after ternion to five years we might manage to return the lo ans due to high demand of our services.As Entrepreneurs we know every business has its negative and constructive outcomes, if EGES Trash Collection does not grow as predicted we will ask help from the AJM Company which has experiences in the trash collection industry to emanation the growth depending on what was the reason behind the failure. For example, if the failure was operational, we may ask them to train the operation manager to be trained by their see operational manager.5.1 Usefulness of the business planBy using our business plan, our company can use it as a guide and actor to see how well the results of the business are.Also the business plan has put all necessary strategy down which will help the heed to use it as guidelines in daily operations activities.For example, the marketing plan guides as an instrument which creates public awareness to potential customers, maintain affinity with the present and retain loyal customers, plan and schedule by pickings actions. Also it helps to get feedback from customer on how we are providing the services.Also financial plan will help us to see the direction of the business in terms of income and expenses of the company as are mentioned and projected in years to come, showing where the company would be and where the company stands at present.5.2 point of accumulation of the business planOur business plan if it happens to be implemented the following could be the limitationsGovernment Law- according to our government law that no one can register the company for trash collection like other company providing services instead has to be sub-contracted by respective municipal or approved trash Collection Company.Bad Infrastructures- with respective to our country of trash collection of Mikocheni resident the street are not nonionic/viable, this results in hindering the process of collecting trash to be surd or not possible at all to pass finished the street roads especially during rain seasonsResident mov ement- Most of families in Dar es Salaam, particular in Mikocheni area, the residents are moving from one area to another due to yearly increase of the lease. This will results to bad debtors to our company as there are no National ID to track them to pay their bills accordingly.6. ConclusionBusiness plan play all the above mentioned roles in our business development, this is an important document for the life of the company and should be confidential. Business plan needs team dedication in terms of time and idea sharing. For sure each part needs critical analysis for the business to grow and that financial plan is company backbone even if it hectic work to come up with accurate figure in preparing financial projection. All required is the that all members to be proactive on each section such as industry analysis, viability of the business and marketing plan for the business plan for the benefit of their business,Also the Government need to change the law for trash Collection Compan y registration to be like other companies providing different services. This will help to have best company as the city cleanness is not yet met International standards and also more companies registration will increase competition which might purify the quality of the service provided to the resident and the services cost might decrease.