Evaluation of the Effectiveness and Usefulness of the Learning Experience
Learning experience forms the backbone of every training program for learners in the institutions (Kolb, 2014). It allows the learners to explore and work through new ideas and concepts through action learning and interchange with tutors and peers (Hokanson et al., 2015). Therefore, its value is imminent. For instance, the learning experience enables learners to build analytical thinking, competencies of decision making and knowledge to address the various forms of real-world challenges they are likely to encounter after completing their studies. With respect to the business field, learning experience assists learners in translating theory into practical approaches in the course of engaging with real-world contexts of business.
The Usefulness of the Learning Process
The process of business research entails learning everything possible regarding competitors and customers of a company and the entire industry (Hair, 2015). The key objectives of the process are establishing what services or products to offer, which clients would likely purchase them, where to sell them, and how to price and promote them in the market (Collis & Hussey, 2014). The process will enrich and open up my thinking in regard to my course. Through a deeper understanding of business research, my interest in the subject will be stirred up, creating a better platform for me to excel in the course. As an aspiring entrepreneur, the learning experience will prepare me well enough to be able to run a successful business in the future. For instance, I will be able to use the knowledge to conduct market analysis about potential customers, competitors and existing business opportunities, among other factors. In life generally, I will be able to understand and even interpret objectively companies’ products and pricing as a customer hence helpful in making preferences for goods and services.
Description of the Learning Process
I researched the most viable business prospects in the manufacturing industry. For instance, Research Optimus enables companies in the manufacturing industry to unravel challenging decisions about labour shortages, new technologies, cost control, competitors, location of operations and efficiency of suppliers. Businesses in the manufacturing sector find these factors critical in their operations and, consequently, their success (Kull, 2015). I also heard from my peers and faculty through interchange that business research has had a paramount contribution to the success of major firms, particularly in the manufacturing industry. I realized that business research directly influences the present and future prospects of any business (Beech, 2015).
Business research presents a practical platform that serves to enhance the learning process. In order to have formidable business research, there are some key procedures to follow (Sreejesh et al., 2013). Depending on the context, they may be indirectly or directly tied to the research learning processes. For instance, I discovered that various aspects of the business field had been overlooked in the learning processes of research, such as the need to cope with the emerging trends in the markets of different industries. The business research enabled me to break the ice with respect to the research learning process, considering that most of the class experience was based on theory.
Explanation of the Learning Process
I feel that there is a need to incorporate business research into the learning processes of research in institutions through comprehensive business exposure for the learners. Presenting them with real-world business situations will enhance their learning experience, thus the ability to successfully venture into entrepreneurship, perhaps after completing their studies. Before the business research, I wouldn’t have been able to form such informed opinions because I only had a theoretical understanding of the subject. Companies should seek to engage in business research to improve their chances of thriving in their respective industries (Gil & Reyes, 2013). Therefore, business research is important for any research learning process in entrepreneurship.
Explanation of the Application Plan
The learning process has helped me to understand better the course viability in real-life contexts, particularly in business. As an aspiring entrepreneur and sales and marketing manager, the learning process gave me the motivation to pursue the future profession objectively. I have been able to learn various business skills and concepts that I could use to reach out to potential customers and even business partners. Proper business research makes understanding customer needs, preferences, and pricing easy.
Beech, J. G., 2015. Doing your business research project. Los Angeles: SAGE.
Collis, J. & Hussey, . R., 2014. Business research: a practical guide for undergraduate & postgraduate students. 4 ed. Basingstoke, Hampshire: Palgrave Macmillan.
Gil, E. L. & Reyes, A., 2013. International business research: strategies and resources. Lanham: The Scarecrow Press, Inc.
Hair, J. F., 2015. Essentials of Business Research Methods. s.l.:M.E. Sharpe.
Hokanson, B., Clinton, . G. & Tracey, M. W., 2015. The design of learning experience: creating the future of educational technology. Cham: Springer.
Kolb, D. A., 2014. Experiential learning: experience as the source of learning and development. 2 ed. Upper Saddle River, New Jersey: Pearson Education Inc.
Kull, H., 2015. Mass customization: opportunities, methods, and challenges for manufacturers. Apress, New York, NY: Springer.
Sreejesh, S., Mohapatra, S. & Anusree, . M. R., 2013. Business Research Methods [recurso electrónico] An Applied Orientation. s.l.:Springer Science & Business Media.