Reflective Report Task:Using appropriate models (or frameworks) of reflection, reflect (in the context of your entrepreneurial development) on your own experience of your course so far. In doing so...

REFLECTIVE REPORT
ENTREPRENEURIAL DEVELOPMENT
Table of Contents
Introduction    4
1. Reviewing Experience in the Context of Entrepreneurial Reflection    4
1.1 Personal Entrepreneurial Reflection using Brockbank and McGill’s Reflective Practice    4
1.2 Personal Entrepreneurial Reflection using Korthagen’s ALACT Model    6
1.3 Identifying and Analyzing the Personal Entrepreneurial competencies, character and practice Framework    8
1.3.1 Neck, Greene and Brush’s 5 Practices of Entrepreneurship    8
1.3.1.1 The Practice of Play    8
1.3.1.2 The Practice of Creation    9
1.3.1.3 The Practice of Experimentation    9
1.3.1.4 The Practice of Empathy    9
1.3.1.5 The Practice of Reflection    9
1.3.2 EntreComp Framework    10
1.3.2.1 Literacy Competence:    11
1.3.2.2 Multilingual Competence:    11
1.3.2.3 Mathematical and Competence in Science and Technology:    11
1.3.2.4 Digital Competence:    11
1.3.2.5 Personal, Social and Learning Competence:    11
1.3.2.6 Civic Competence:    12
1.3.2.7 Entrepreneurship:    12
1.3.2.8 Cultural Awareness:    12
2. Evidence of Reflection on Experience    12
2.1 Outlining the Appropriate Entrepreneurial Experience from the Course    12
2.1.1 Idea Generation:    13
2.1.2 Opportunity Evaluation:    13
2.1.3 Planning:    13
2.1.4 Formation of the Company:    13
2.1.5 Growth:    13
2.2 Describing the Experiences    13
3. Analysis of Character and Competency Development    14
3.1 Mapping Changes in Entrepreneurial Insight and Learning from their Experiences    14
3.2 Contribution of Learnings on Entrepreneurial Competency and Character Development    15
4. SMART Goals for the Future    17
4.1 Setting Appropriate SMART Goals for the Future    17
4.2 Alignment of these Goals to Entrepreneurial Character and Competency Development    18
4.3 Actions and Opportunities Identified to meet the Goals    19
Conclusion    20
References    22
Introduction
The reflective report addresses the subject of entrepreneurial development, which is the core factor for business success. In this report, I would like to draw attention to the significant potential entrepreneurial development skills that are required to achieve success and sustainability in the business. However, making money is not the sign of a good entrepreneur but making a difference through the business is an essential factor that leads the business very far and makes the business separate from another one.
In this context, I will share my experience and skill implementation that helped me to enhance entrepreneurial development in my business. In this context, many conceptual models such as Brockbank and McGill's Reflective Practice, Neck, Greene and Brush's Five Practices of Entrepreneurship, Korthagen's ALACT Model and EntreComp Framework are used to support and to determine the reflective report that executes the deep knowledge of the entrepreneurial skill.
I would like to share my entrepreneurial reflection through the light of these theoretical concepts that the significance of entrepreneurial skills and knowledge can be established. However, the evidence of reflection on the experience is also included in this discussion and it illustrates the mapping of changes that would arrive through the insights of experience and learnings. Apart from this, the report also focuses on the contribution of learnings and future SMART goals.
1. Reviewing Experience in the Context of Entrepreneurial Reflection
1.1 Personal Entrepreneurial Reflection using Brockbank and McGill’s Reflective Practice
I would like to explain briefly the theoretical concept of Brockbank and McGill's Reflective Practice that enlightened me to explore my personal experience and learnings on entrepreneurial development matters. However, Brockbank and McGill pay attention to the central theme that places the significance of learning in higher education. The theoretical aspects shed light on the higher range of learning that often requires gathering experience and help out the ability of critical thinking.
At the same time, the insights of the theory are based on the practices that help to grab transformational and lifelong learning (Akpomi and Ikpesu, 2021). However, the insights of the theoretical concepts of Brockbank and McGill helped me to increase my level of understanding and I was able to approach the significance of critical thinking to become a successful entrepreneur.
At the same time, the assessment of the themes that have been focused on by Brockbank and McGill encourage me to increase my critical thinking skills so that I can understand the business and can reach out to each of the phases that business requires to accommodate and I can sustain my business effectively (Wraae, Tigerstedt and Walmsley, 2021). By enlightening the core competence of theory that prefers in promoting the learning, I have always been curious and encouraged to accommodate all possible learnings that I could run my business with efficiently and can increase the potential leadership skills that I can manage and resolve all the issues that come before the path of my business.
I am greatly influenced by the theoretical concepts of Brockbank and McGill and follow the principles of learning that indicate the significance of social process that is crucial to approach transformational learning or to implement the ability of critical thinking as it all requires social conditioning and focus on social integration. Through enlightened by the value assessment of the theory placed by Brockbank and McGill, I would like to express my learning through real factors.
I would also wish to apply it to get my transformational learning, by which I can gain the interrelationship with my employees, stakeholders and customers that helped me to conduct the entrepreneurial development in my retail business (Rowe, Moore and McKie, 2020). However, I enjoy applying the theoretical concept of Brockbank and McGill that asserts the positive attitude of the learner to reflect the learnings by himself but apply it to each other in reality.
However, the theoretical concept also sheds light on the factor that the ability of critical thinking can help learners to shift across the knowledge in executing a better understanding of the reflection that has been experienced. The core competence of theory enlightened me to reflect my entrepreneurial experience in this context, which it can help me to express my critical thinking.
These also help me to express my paradigm of knowledge that can synthesize the success criteria of the business. However, I have always been looking for a strategic way that I can run a stable business and I share my knowledge and experience to motivate my subordinates so that they can play a major role in the overall performance of my retail business and help me to run and manage the business effectively.
1.2 Personal Entrepreneurial Reflection using Korthagen’s ALACT Model
The assertion and the assessment of Korthagen's ALACT Model also encouraged me to express my reflection of the entrepreneur experience that I can share with my employees and staff for a better consequence of the business environment and performance. The theoretical aspects of the model denote some essential skills such as awareness of prior aspects of learning, an action that can help to explore the reflection of learning.
However, insights of the model also pay attention to the looking back of the knowledge or the experience of the teacher that would help them to execute a sensitive and useful reflection. However, the core competence of theory also asserts the essentiality and utility of the alternative method and trial that play a major role to conduct an appropriate reflection of learning (Kaya and Oz, 2021).
Nevertheless, I am also enlightened by the core principle of Korthagen's ALACT Model and pay attention to increasing my internal and external knowledge of business by a thorough observing self-assessment that I could realize the situational factors of business that affect the performance and the sustainable growth of my business. However, I have followed the core competence of the theoretical aspects of Korthagen's ALACT Model and pay attention to increasing my awareness for self-assessment.
As I do not consider that I have all the characteristics that an entrepreneur needs to access massive success in the business, I have gained my knowledge about the strength and the weakness of my ability (Dreisiebner, Slepcevic-Zach and Stock, 2021). My entrepreneurship skills and knowledge is greatly influenced by the assertion of the model that refers to gaining the reasonable knowledge that helps me to access the knowledge about the estimation of risk and motivates me to take out the strategic way on how the potential risks can be managed.
At the same time, the theoretical knowledge from Korthagen's ALACT Model helps me look back at the idea of business and helps me to estimate the business I want to proceed with and justify with my decision relevant to that business (Remmen, Jegstad and Hoper, 2021). Similarly while applying the learnings of the model that are explicit for the promotion of the autonomous learning and motivational factor I learn to drive all possible resources beneath to my business that would approach a positive result for business growth and increase my financial strength.
I learn to invest, in which product lines can mitigate business entities and the ways, to access it by acclimating through marketing research. As the learning assessment of Korthagen's ALACT Model, support of individual and differentiated knowledge is necessary to consider as it helps to execute the right way to execute the proper amount of knowledge learnings, I also applied it as my entrepreneurship skill of development.
Apart from this, the enlightened I came to know that business success factors depend on four types of utilities such as service, utility, palace utility, time utility and form utility that aid an exclusive success factor in the business and help to draft a strategic business policy. At the same time, I have gathered knowledge on how motivational factors could be paper as the significant strategy for sustainable performance in the business including the practice mentioned in Korthagen's ALACT Model.
1.3 Identifying and Analyzing the Personal Entrepreneurial competencies, character and practice Framework
1.3.1 Neck, Greene and Brush’s 5 Practices of Entrepreneurship
The practices of entrepreneurship are essential and play a major role in the business growth. These help to maintain the sustainability of the business. In this context, Neck Greene and Brush's five models of entrepreneurship practices can explore valuable insights to execute a better understanding of entrepreneurship skill and development. In this model, the entrepreneurship practices such as the practice of play, creation, reflection, experimentation and practice of empathy are explained as exclusively effective for business management.
1.3.1.1 The Practice of Play
The practice of play that has been referred to in the model focuses on the entrepreneur skill about an imaginative and free mind of an entrepreneur that can help them to access all possible ways to accommodate financial opportunities for the business. Through this skill, he can search out the positive way, by which he can gather wealth for the business growth and can reach the business with all financial resources (Neck, Brush and Greene, 2021).
However, with the help of this entrepreneurship skill the entrepreneur can find out the entire opportunities that are required to gain a positive attitude for the business. At the same time, the skill also encourages entrepreneurs to conduct innovative ways to resolve all relevant challenges in their path of business.
1.3.1.2 The Practice of Creation
The practice of creation is also the core factor of the model that refers to the importance of creativity plays a significant role in business success and helps businesses to be powerful (Matthews, Liguori and Santos, 2021). In this context, the entrepreneur needs to have a positive and general openness towards the world and consider the present consequences of the business environment. However, the practice of creation explores the ability of creation, by which the entrepreneur can execute a strategic way to resolve challenges and can grab the potential opportunities on behalf of the business.
1.3.1.3 The Practice of Experimentation
As per the assertion of the model, the practice of experimentation is another significant element that requires addressing all these success factors that are required for a sustainable business and enhancing the sustainable growth of the business. However, it encourages entrepreneurs to access new learnings and knowledge and act according to it. At the same time, the learning form needs to be applied by the entrepreneur so that new aids of business practices can be included in the business and the experiment can open the pathway for innovative strategy in the business.
1.3.1.4 The Practice of Empathy
The practice of empathy exposes the emotional factors and moral value in the business, which also affect the business significantly. In many cases, it plays a major role in the business growth and exploring the brand image of the business. Therefore, the empathy factor is highlighted and implements the entrepreneurship skill and practices (Mukesh, Pillai and Mamman, 2020). In this context, the circumstance of the business needs to understand and implement the entrepreneurship practices that affect the business. Apart from this, intentions, thoughts of business and the...