Individual Reflective Report Essay Example | Topics and Well Written Essays - 1500 words - 1

Individual Reflective Report - Essay Example They came to this conclusion after one of the group members stated how the government imposes heavy excise duty on imported products. Members discussed conclusively and found out that the cost manufacturing these top cards is low due to availability of raw materials. Some of the members had the idea that, it was cheaper to import the top up cards but majority of the members rejected this idea arguing that it was time consuming. Recent statistics shows that the number of Chinese playing these online games has increased drastically. Chinese online games have improved the economy due to taxes imposed on such games. This company decided to sell these cards at a reasonable price to the Chinese players simply because internet-banking services in china are expensive (Jensen, 2012 p.12-37). The group also drafted the strategies on how to raise capital in order to venture in this business. Some argued that the business plan would help in getting loans either from the government or from non-go vernmental organizations. Although many ideas came up, no body discussed the negative impacts of this company to the society. This company will influence the local residents to play this games. This might bring negative impact to the local residents who do not have an idea on how to play these games. Process of Idea Initiation The teamwork in the business plan researched on several mechanisms that need review and thorough understanding of their behaviors. A group of the members took the responsibility of attending various seminars in the corporate world. Others decided to start reading journals and other relevant materials on how to make this company market its cards without problems. After thorough market research, the team realized that some of the ideas gathered are invalid and have no place in the corporate world of business. A section of the group lead by a renowned researcher deduced that internet and personal interviews gave immediate and timely response. Another collection o f experts gave their recommendations that customers should get informed information so that they can make informed choices. Generally, the whole idea rose at large and further steps taken to ensure that the best ideas take the day. Chinese internet games are becoming part of lifestyle in many parts of the country. This group business plan came up with financial estimates on how to make this happen. It is important to note that the team saw it important to present this in terms of a business plan so that sense in the whole idea can reveal itself. This balance sheet gives the real estimates on the utilization of resources. . All this ideas appears in a well compiled in book, which has a table of contents giving direction on how to go about it. This book has references, which are up to date depending on the research (Green, 2010, p.110-126). It has also given guidelines on how several ideas will come into effect with time and the impact it will have in the entire market. A business pla n that has some references act as a tool to monitor the activities and progress of the business. In my own understanding, a business plan can help this company to raise funds for its expansion hence serving many customers. This business plan will also help the company make future decisions comparing what is happening at the present. The business plan can act as a future reference to review the positive