Personal Project Essay Example | Topics and Well Written Essays - 2000 words

Personal Project - Essay Example Initiation of a new venture has various advantages as well as disadvantages. For example, with the introduction of a new venture, an individual can make more capital and have own freedom (Hultman and Shaw, 2003). On the contrary, initiating a new venture involves huge financial risks and along with that one need to take extra burden of work so as to get success. Yet, individuals explore this avenue so as earn money, respect and at the same time carry out some social works (Carson, Cromie, McGowan and Hill, 1995). In our case, the business chosen was restaurant business. The company was named as E-Food Restaurant and positioned to capitalize on the opportunities arises due to the changing consumer needs. The USP (unique selling proposition) of our restaurant is customer tailored and fresh meals. In addition, the location of our restaurant coupled with large seating capacity acts as a competitive advantage to the firm. The products of our restaurant are mostly inspired from the British culture and wildlife (Hultman, 1999). The launching of our first restaurant business is a part of our long term plan and to drive change in the industry. However, the process was not easy enough and we had to pass through various complexities before reaching this stage. In this report, I on behalf of our company would like to reflect upon the steps that we went through in establishing and running the company through the competition & the decisions that were made during the competition and their outcome. In addit ion, this self reflection report also proposes to shed light on the overall experience and knowledge that we have gained from the module. Lastly, a conclusive statement will be drawn regarding our overall experience and the things we have learned over the years. Our business also took the steps as other businesses usually take before venturing into a business. Likewise, any other business, our