Self Reflection
Reflection – 100820600 If I were to describe this group assignment, absolutely challenging would be the words. Forming this group was favourable; hence, we efficaciously agreed upon the chocolate industry despite abundant ideas earlier ago. In the beginning, we had quite a few struggles on what the task is and what is expected from us. A few such as incorporating the models (PESTLE, value chain, Porter’s five forces etc.) in the industry’s environmental analysis, narrowing down the scope of the industry, or segmenting the market structure. To a point, we had no idea on how to begin or where to begin our research, heavily halting our progress. Nevertheless, by consulting workshop tutors and the lecturer after class, we managed to get back on track. What went well in our group was that we set earlier deadlines for ourselves, giving us more time to communicate and discuss over what should be enhanced. Time management is thus extremely important because we all have different schedules and finding a time that everyone is available is not an easy task. Even though we did not meet up frequently, we were still able to achieve our goals and finish early.
What I discovered and learned as I progress through my research is that chocolate sales have been declining in recent years due to arising negative health issues. People are preferring healthier substitutes, which provide a substantial threat to the chocolate industry. Additionally, chocolate still remains high-priced for most people. All of these problems added together would mean a consumption slowdown that might ultimately result in a downfall in chocolate sales. Correspondingly, I wonder how leaving the European Union would do any good to consumption rate of chocolate per capita in the UK. If I could do differently in tackling this group assignment, I would give myself more time in researching and communicating with my teammates. There is never enough time and therefore challenging to multitask when there are other assignments and work at hand. The research would be more thorough if we compare and examine deeper between the top three industries and the ones with significantly lower market shares. Last but not least, my fellow groupmates and I have learned that saving an online copy of everything in Google Docs ensures ubiquitous access and prevents unforeseen circumstances.