Strategic Future Planning - Essay Example

A Reflective Report Contents Contents 2 Introduction 3 Reflective Commentary 3 Conclusion 7 Reference List 8 Appendix 9 Introduction The present report is a reflection of my understanding, learning as well as experience gathered from commencement of the course to its successful completion. The reflection is about future suggestions I am able to identify from various analyses and self-evaluation (Moon, 1999; Hampton, 2010). The current self-reflection is a combination of various topics, units and courses covered during the entire learning period. The submitted assignments and their feedback have also been evaluated in order to comprehend weakness of the report, reason the deviation from original aim as well as provide proper recommendations for corrections and adjustments (Kolb, 1984). The presentation work submitted by our group will also be studied for understanding our overall learning as well as gap between our expectations at beginning of the unit and extent of our success in completing and meeting objectives. The self-reflective report has been divided into three major parts. The first part introduces the objective and provides a clear understanding of the flow of self-reflective report. The next section is a reflective commentary where different techniques and tools for critical foresight have been evaluated. Their impact on my own thinking process will also be discussed. This section will also compare opinions and ideas from the literature. The last section will be a conclusion of key points discussed in the reflective commentary. Reflective Commentary Part A The coursework was presented on the topic of Bio-fuels. The report was an exhaustive study including analysis of trends on bio-fuels, their usage and current availability as well as future scenario development (Slaughter, 1996). Deeper insight on the future of transportation and role of bio-fuels was presented with the help of PESTEL analysis. Based on PESTEL analysis, various recommendations for sourcing bio-fuels as well as enhancing its usage was discussed. The feedback provided after final submission helped in understanding areas that needed improvement. According to the feedback, initially the report was well-written till the introduction section. However, after the introduction, the report started to look like an essay containing majorly descriptive studies as well as lacking any aim or objective. While referencing was appropriate, the report was said to be weak in areas such as, trends, interactions, scenario development as well as proper explanations. The feedback also suggested that the report lacked focused justification or any identified opportunity. While the style of writing was clear and well-presented, it was mostly irrelevant and overlooked the expected information and analysis. After re-reading and analysing according to the feedback, it was found out that a proper structure for scenario development was absent. Another factor that according to me resulted in a less valued report was lack of time; most of the report was made in a hurry, making it extremely difficult to collect substantial data and study them for better results (Johns, 2004). However, I have been given the opportunity to reflect and correct issues in the report. In order to avoid the above issues in future, I will strictly apply the below-mentioned strategies. Right from commencement of the project, I will make sure that every aspect is attended according to the assigned instructions and no task has been neglected or overlooked. For this, I will break down my work into smaller tasks and set time limit for each task. Also, every task will be evaluated for quality and completion within time. This will help me in staying organised. In order to understand my progress, I will ensure that my ongoing project is reviewed by both peers and professors (Boud and Walker, 1998). I will also organise multiple brainstorming sessions with my peer groups. This will help in generation of new ideas as well as creative solution, which can be further recommended in future projects. In future, I will keep in mind that research mediums are more diversified and informative; for example, scholarly journals, latest events and news regarding research topic, opinions and analysis from industry experts as well as recommendations from various analysts and researchers (Cameron and Mitchell, 1993). This will help in in-depth analysis and better understanding of present trends, subsequently resulting in a more effective scenario development. With the help of elaborate trend analysis and effective scenario development, a focussed justification can be formed for future reports. Apart from the above, entire document will be divided into drafts, where each of them will be revised multiple times so as to secure that a proper structure is followed and objective of the report is achieved effectively. Part B The unit started with an ice-breaking seminar. In the seminar, I was being interviewed with the person sitting next to me, where I had to express my opinion regarding the future. First of all, the ice-breaking session was extremely effective and ensured active participation across the class. It also helped me in realizing my full potential for learning from very start of the unit (Ghaye, 2000). The ice-breaking seminar ended with a lecture session from professors. This enlightened me about basic concepts regarding strategic thinking as well as ways to use these theories in diverse real life situations. The second task in the unit included group presentation. The objective was to understand demographic, social, technological, economic and environmental futures. In September, at the start of the unit, my understanding for the above topics was limited to bookish knowledge. In addition, I lacked in skills needed to relate my knowledge to practical application. Even so, during the tenure, professors had helped us in linking theories with practical applications (Johns, 2006). This was done by using real life situations and practical case studies. The next crucial topic discussed in the unit was trend analysis. Trend analysis is one of the most important tools in strategic future planning (Slaughter, 2000). Seminar four and five were extensively directed at trend analysis techniques. The lectures and seminar materials helped me in realizing, evaluating and integrating trends. Various trend analysis techniques, which I had studied during the course, were time series, simple trend estimation by observing patterns as well as regression analysis. Equipped with the knowledge of trend analysis techniques, I am presently able to conduct long range and short-term forecasts while studying availability of petroleum as well as potential of bio-fuels in future. In addition, I am able to analyse numeric data more efficiently with the help of regression tools. Overall, the seminar on trend analysis techniques made me more confident towards my presentation and analysis of future (Anglia Ruskin University, 2013). During the sixth seminar, techniques for system thinking were discussed by our lecturers. We were asked to make a draft system diagram while preparing our presentation. A draft system is a rough sketch or diagram of the ongoing project helping in logical and systematic thinking concerning the design problem as well as different alternatives for solving the same. During various stages of the project, we created various draft diagrams that helped in determining our progress and its impact on our thinking. The draft system diagrams kept us on the right track and prevented us from digressing from our original system design. Before starting the course, I was not aware of the drafting system diagram. Therefore, it was very difficult to keep a track of my initial objectives and design problem. Nonetheless, with knowledge of system diagram, I am rendered more focussed and effective towards problem solving (Brookfield, 1995). Seminar eight and nine were dedicated towards scenario planning; this is another critical factor for effective future strategy. Scenarios are particularly helpful while developing strategies for extreme events happening across the world (McKinsey and Company, 2009). The topic chosen for scenario development during first assessment was also on a current burning issue. Various information regarding scenarios were shared such as, its emergence during World War II and present application by researchers and analysts. The study and application of scenario planning during the course has helped in stimulating creativity, strategic thinking, organisational agility as well as effective communication. Equipped with the knowledge of scenario planning tools and techniques, I will be able to conduct my own analysis for future accordingly (University of Wolverhampton, 2012). This knowledge will also help me in staying focussed on my direction and deliver the desired results in future. Part C The topic chosen for our presentation was on ageing population. Since the topic was on demographic, a detailed study was conducted on various tools and techniques used during demographic analysis. I gathered extensive ideas about critical tools for demographic analysis during the course such as, importance of homogeneous segmentation of the population, direct and indirect segmentation, composition of population, demographic bookkeeping that is essential for trend analysis and future scenario development. On the whole, on completion of the course, I was aware of the right tools for social and demographic analysis and while making decisions regarding demographic futures, I actively applied the above strategic tools and techniques. The presentation started with statistical and numerical information about ageing population in US. For this, data were collected from authentic government sites. The trend analysis tools employed during the presentation had helped in understanding ageing patterns in US compared to other developed countries. Various benefits and drawbacks of ageing population were identified. From these benefits and drawbacks, plausible futures were developed (Maleska, 1995). Certain industries such as, healthcare, would benefit from the increasing aging population. From the emerging trends, two important scenarios were framed, such as, medical developments and impact of changes in taxation (Ringland, 1998). In business, developments will be on the lower side and no significant change will occur in the present situation. Even so, advance medical developments will improve quality of life. At the end of the presentation, several benefits of ageing population such as, their experience as well as interest in online media, were discussed. Conclusion The above course has also helped to enhance my personal analysis skills. Equipped with the knowledge of strategic tools and techniques for strategic future foresight, I can now develop my own analysis of future without seeking out literature and opinions of other analysts. The reflective commentary was an aggregate understanding of various topics discussed during the course. While trend analysis and scenario development techniques will help me in effective future strategies, draft system diagram will keep me focussed in order to achieve my objective within assigned time. The two assignments completed during the course were on bio-fuels and ageing population and required the implementation of trend analysis for future scenario development. This implementation was very effective in reaching conclusion and drawing subsequent analysis on both topics. Overall, tools and techniques studied during the course have been extremely beneficial in enhancing my strategic thinking skills. The course units enhanced my motivation towards disciplined and planned strategy. From the courses and units studies, I realised that in order to achieve success in the field of strategic future planning, it is important to translate the learned concepts into practice by continuous evaluation and development. Reference List Anglia Ruskin University, 2013. Reflective Writing. [pdf ] Anglia Ruskin University [Available at: [Accessed April 14, 2014]. Boud, D. and Walker, D., 1998. Promoting reflection in professional courses: The challenge of context. Studies in Higher Education, 23(2), pp. 191-206. Brookfield, S., 1995. Becoming a Critically Reflective Teacher. San Francisco: Josey-Bass. Cameron, B. and Mitchell, A., 1993. Reflective peer journals. Journal of Advanced Nursing, 18, pp. 290-297. Ghaye, T., 2000. Into the reflective mode: Bridging the stagnant moat. Reflectice Practice, 1(1) pp. 5-9. Hampton, M., 2010. Reflective Writing: A brief introduction. [online] Available at: [Accessed April 14, 2014]. Johns, C., 2004. Becoming a reflective practitioner. (2nd ed.). Oxford, UK: Blackwell Publishing. Johns, C., 2006. Engaging reflection in practice: A narrative approach. Oxford, UK: Blackwell Publishing Kolb, D.A., 1984. Experiential Learning: Experience as a source of learning and development. Englewood Cliffs, NJ: Prentice Hall. Maleska, P., 1995. The futures field of research. Futures Research Quarterly, 11(1), pp.79–90. McKinsey and Company, 2009. The use and abuse of scenarios. [online]. Available at: http://www.mckinsey.com/insights/strategy/the_use_and_abuse_of_scenarios [Accessed April 14, 2014]. Moon, J., 1999. Reflection in Learning and Professional Development. London: Kogan Page. Ringland, G., 1998. Scenario Planning: Managing for the Future. Chichester: Wiley. Slaughter, R., 1996. The Knowledge Base of Future Studies. Victoria, Australia: DDM Media Group. Slaughter, R., 2000. Futures: Tools and Techniques. Indooroopilly: Futures Study Centre. University of Wolverhampton, 2012. Guide to Reflective Writing. [online] [Available at: http://www.wlv.ac.uk/lib/PDF/LS006%20Guide%20to%20Reflective%20Writing.pdf [Accessed April 14, 2014]. Appendix Before the seminar, my overall knowledge was limited to newspapers as well as few of the seminars that I had attended previously. Even after that, my thoughts concerning the future were quite conventional and lacked creativity. Without having attended any workshop, seminar or course, I lacked strategic thinking skills. A strategic focus was also missing in my method of evaluation. Prior to attending the unit, I used to think that scientists have yet not discovered all energy sources on earth and there might be locations where non-renewable sources such as, petroleum, can be found in abundance. My information regarding bio-fuels was highly restricted and as a result, I was unaware of bio-fuels being a potential alternative for petroleum. In addition, I was very pessimistic about current developments that are taking place in order to save the future. I was of the opinion that non-renewable reserves are depleting at a rapid rate and the government is not planning any alternatives in order to survive and recover from the current situation. Even though my thought process holds true to an extent, I was unaware of various discoveries and technically advanced methodologies, which are being applied by scientists, analysts and researchers across the globe for the purpose of sourcing a good and potential substitute for the depleting energy sources. Read More