The Dynamics of the Group - Essay Example

New Venture Creation and Business Planning New Venture Creation and Business Planning Introduction The purpose of thisreflexive essay is to help me to chat the dynamics of the group and its role in achieving the group objectives and in-group and personal learning. I will showcase the process of working together to develop and complete the business plan and creation of new venture for my group. Moreover, I will also demonstrate in the essay how we have progressed and the key driving forces behind our level of progress. In addition, I will reflect on how I relate this process to the writing about the group dynamics particularly that of Tuckman and Belbin. Also, I will showcase the learning insights drawn from the group work. 1. Group dynamics I was in a group of 5 people with a lady and four males. We are from different parts of Asia. Some group members use Mandarin while others use Cantonese. In our group, we applied Tuckman’s four stages of group development to perform the task assigned to us to accomplish our objectives. We divided our group into three. The two groups had two members each and the last division had only one member (leader). I was chosen the group leader. Using this tool we first identified the stage of team development that our team is. Here we realized that our team was still at forming stage of development. After identifying our group initial stage as forming, we brainstormed on whatever we needed to move the group forward. Further, we scheduled regular reviews of where our team was and adjusted our behaviour and leadership style appropriately (Flatters and Willmott 2009). At the forming stage, I directed the team and established clear objectives both for my team as an entirety and for individual team members. In the norming stage, I establish the processes and structures of our group. I spearheaded building of trust and good relationships amongst us. In addition, I supervised the resolution of conflict swiftly as they happened. Also, I stepped back and assisted the team members take responsibilities for the progress towards our set goals (Keen 2003). We arranged the team building event for the meeting. I oversaw the formulation of the rules of engagement for our team as our group became established. Further, we defined the scope of group’s tasks and responsibilities making sure that they are clear and consented to by each of the individual members of the group. At this meeting, I realized from the argument of each member of the group that we understood each other better and appreciated individual member skills and experience. Further, we listened to each other, appreciated and supported one another. Moreover, we were prepared to alter the pre-conceived perceptions as I realized that we had the perception of a member of integrated, effective team. We had to work hard to attain the norming stage as I realized that we feared that the team could break up from the outside pressure. So we were ready and prepared to condemn any pressure to change in the loudest term to eliminate any possibility of reverting to storm (Porter 1985). There was no deliberate assignment of the roles for the group members following the evaluation and appreciation of individual skills and experience from the norming stage. Our group appreciated and subsequently employed Belbin’s role model in determining the particular roles that the individual member of the group could assume. Belbin suggest that the nine roles of an effective group is based on observed behavior and interpersonal skills. Our team members willingly took the roles from the list of nine as provided by the Belbin’s theory in relation to our specific of objectives of new venture creation and business plan. Through the willingness to take roles, the group identified the weaknesses and strength of each member as revealed by the interpersonal styles and behavior and worked towards creating a balance team roles. The Belbin’s theory was central to making each member of the group to appreciate the need to understand their roles (Guerty and Switaj 2004). Thus developed individual strengths and manage their weaknesses effectively further improved the contribution of every member of the team to the group goals and objectives. I understood Belbin’s view of a team as a congregation of individuals individually understood by other members rather than a bunch of individuals with job titles. Therefore, as a team leader, I stressed such views and emphasized that our team ought to seek for particular roles and perform effectively in their areas of preferences. Therefore, I eliminated the deliberate division of roles but left it open for each member to evaluate his skill and experience alongside strength and weaknesses to pick on the roles both from venture creation and business plan. Therefore, as pointed out by Belbin’s theory, the role taking session helped as identify individual behavioral strengths and weaknesses. Subsequently, I led my group to apply the already identified portfolio of behavioral strengths and weaknesses to build productive working relationships and select and develop high-performing teams (Porter 1985). Further, we raised self-awareness and personal effectiveness alongside building mutual trust and understanding. Accordingly, I realized from the Belbin theory that the team roles measure behavior and not personality and hence a role is perceived as a tendency to behave, contribute and interrelate with team members in a designated manner. Therefore, I shared such an understanding with the colleagues to ensure that we were all in agreement on whatever we were required to perform the chosen roles. Therefore, Belbin’s theory helped us realized and anticipated our pitfalls and subsequently made tireless efforts to avoid and correct them where necessary. Roles Our team came up with three chief roles as action-oriented, thought oriented and people oriented roles. The roles were then slotted with the first two members of the group taking the four roles preferred as the implementer, resource investigator, monitor-evaluator, and completer-finisher (Johnson 2009). As a leader, I took two roles as coordinator and shaper. The last two members took the remaining three roles as team worker, specialist, and planter. Therefore, our team was ready to take on the task of each person performing their roles as preferred. Meetings Meeting one: 5th April 2015 at 10:30 AM We held frequent meetings with the first meeting held on 5th April 2015 starting at 10:30 AM. In this meeting, we focused on the group forming and norming guided by Tuckman theory. In this meeting, we explained the need to build up our group and set the purpose, objectives and goals expected from each member and the entire team. We also selected our leader and also divided the group further into three readinesses for role-taking in the next session. We departed and agreed to meet on the same day later in the afternoon. Meeting two: 5th April 2015 at 3:00 PM We met as earlier planned and willingly took up our roles guided by the Belbin’s theory. We discussed the need for each member to self-evaluate and note his behavior and interpersonal style before taking up any role. Each member of the group came up with his strengths and weaknesses and alongside skills and experience. Subsequently, we took up the nine roles willingly guided by the Belbin’s theory of roles. We the discussed the next meeting and agree on the following day at 10:30 AM Meeting three: 6th April 2015 at 10:30 AM In the third meeting, we discussed how to tackle the two tasks we had both for new venture creation and developing a business plan for tea infusion. In this meeting, we agree that we were to start with the new venture creation. As had been outlined in our roles, we divided the task amongst ourselves. Each group was given a range of the task to perform and report back on the next meeting for finisher and implementers to compile the work. However, the task was a bit completed as we had a challenge of the language barrier. We lacked a common language to use in expressing ourselves (Havard Business School Press 2007). Meeting four: 6th April 2015 at 5:00 PM We discussed the development of the business plan for tea infusions. Here, we divided the task according to the agendum of entrepreneurial business planning particularly, the key issues determining the assembling of human resources. The discussion involved building a new venture team, keeping the team together and external team members. Again, the work was divided amongst ourselves based on the earlier groupings and roles. Further, each individual reported on the first task (Flatters and Willmott 2009). However, there were conflicts due to overlapping of work. Some members did same things leading to a lot of confusion and difficulty in compiling the work on new venture creation. We agreed to go through the missing parts of the work as a group and complete the work. After finishing, the finishers were given the complete work to after it had been monitored and evaluated by the respective individuals. Meeting Five: 7th April 2015 at 10:30 AM We again met and completed the work on business plan development for infusions and compiled both the two works readiness for submission. Conflict and Challenges The chief challenge we faced was a language barrier; some spoke mandarin and others Cantonese. This posed a serious challenge in discussing and compiling the work as it was the point of conflict. During the forming and norming, some could not express themselves and hence when the group was already formed they could never measure up to the groups agreed rules of engagement. Further, there was a problem in taking roles of the group as some suggested that role taking was to be done based on people speaking the same language. Others rejected that due to different in preferable roles based on similar strengths and weaknesses as well as skills and experiences (Johnson 2009). Therefore, grouping people with same strength and weaknesses together would be disastrous. Another conflict resulted after some people did same work leading to some parts of the work missing. We however solved our conflicts by grouping people of same language together and tried to eliminate the duplication of behaviors and interpersonal skills. Where there were missing parts of the work, the group agreed to them as a whole and compiled all the two tasks on time. 2. Idea Generation and Selection The idea generation was based on the individual strength and weaknesses and skills and interpersonal style. People were given task they understood best. We took a particular task at a time and went through all its parts and topics. From here, a member would pick where he or she understood best and then we compiled the two tasks. We applied such theories of motivation to ensure that one completes the work as we appreciated each member’s input in our group (Keen 2003). After an idea had been raised, we counterchecked with the literature available and also applied online research to justify the ideas. 3. Evaluation of the Module I learned the basis of developing and effective business plan not only for tea fusions but can use the knowledge in other cases. Also, I learned how to build a powerful team and the significance of teamwork. Accordingly, I understand what it takes to build a new venture team by bringing all the stakeholders together. Moreover, I have learned from critical analysis as we did during tea infusion plan. I can do a thorough market and industry analysis and design strategies that achieve a competitive edge. Further, I understand the principle of such analytical tools as Porter’s five force and Ansoff Matrix in conducting a market and industry analysis (DSR 2014) Also, I learned but the intriguing factors that investors look for before venturing. I noted that the components of business financial risks like payback period, profit and loss and break-even analysis are key drivers investor must determine before venturing into new business. Further, I learned the significance of payback in assessing the sources of financing. Further, the module helped realized the sources that saving forms the greatest source for obtaining capital for a new venture. Further, I developed an understanding about the conflicts that occur in financing a new venture. For instance, it is positive to obtain early funds but it may have greatest risks attached that makes it negative hence creating a dilemmatic situation. Further, the module helped understanding the conflict that arise when investors wants to expand the business slow which is negative but has a low risks attached which is a positive decision (Turnbull 2000), The most intriguing insight is the ability to become a successful team leader at the workplace. In addition, the module was beneficial in clarifying the issues of scale in lending a new venture. I realized that it is easier to borrow a million that a hundred thousand since undertaking due diligent requires similar amount of money regardless of the amount of loan. Hence, the need to match the scale of one’s required borrowing with that of the lender. Conclusion The module has taught me and other group members intriguing insights on how to develop a marketing plan and creation of a new venture. In addition, I am excited to have led my group to perform the two tasks. I have subsequently learned on the need to work as a team and appreciate the contribution of each member. Further, through the theories of Belbin and Tuckman, I am well equipped to create develop a team and execute my roles as a team leader effectively. My group members and I fully appreciate the efforts of our tutor who has equipped as with the required knowledge to solve the group challenges and conflict. Going forward, I will apply the intriguing lessons learned throughout the module to shape my career. Bibliography DSR, 2014, UK Tea Market, Data Science for Research [online] Available at: http://www.theresearchpedia.com/research-articles/uk-tea-market (accessed 4 March 2015). Flatters, P, and Willmott, M., 2009, Understanding the post-recession consumer. Harvard Business Review, July. [online] Available at: https://hbr.org/2009/07/understanding-the-postrecession-consumer/ar/1 (accessed 5 March 2015). Guerty, P.M. and Switaj, K. 2004, Tea, porcelain and sugar in the British Atlantic world, OAH Magazine of History, 18(3), pp.56-59. Guerty, P.M. and Switaj, K. 2004. Tea, porcelain and sugar in the British Atlantic world, OAH Magazine of History, 18(3), pp.56-59. Harvard Business School Press, 2007, Creating a Business Plan: Expert Solutions to Everyday Challenges, Harvard Business School: Boston. Johnson, JA, 2009, Health organizations: Theory, behavior, and development. Sudbury, Mass: Jones and Bartlett Publishers. Keen, TR, 2003, Creating effective & successful teams. West Lafayette, Ind: Ichor Business Books. Porter, ME, 1985, Competitive advantage: creating and sustaining superior performance. The Free Press. Turnbull, S, 2000, Corporate governance: Theories, challenges and paradigms. [online] Available at: http://ssrn.com/abstract=221350 (accessed 4 March 2015). Read More