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Foundation For Business Management

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Reflection

Working with Wonder Builders Ltd has been a great experience of me. During my association in constructing a 3 storey building with a firm, I got to learn many effective knowledge about the work process of the firm and skills required in the business. These skills helped me succeed in my given task as well as completion of the project between the set time frame. For me it was a challenging activity for me to work for the firm and learn how effective skills could be used during construction.

There were number of skills required to be established within the work place to effectively carry out the duties in a systematic and timely manner. How I developed and used these skills is described below:

  • Communication:This refers to the process of exchange of information among members of a group. This skill is essential to carry out any activity involving multiple people. This was best used during the construction of the building. The firm followed vertical communication system which helped the managers to manage the whole operations and the team. During the activity, there were times where effective communication saved the employees from hazards as well as helped the firm to cut down the cost. It was decided that base walls and pillars would take 18 days to be ready for further operations to execute. However, at 5th day, due to wetness in the base walls, it almost collapsed until few workers effectively communicated this sensitive issue to the upper management. Corrective actions were taken which helped the firm in saving lives as well as costs. Another issue which saw an active role of communication is during worker's strike because of non-payment of wages. This issue was immediately communicated to the finance department who spoke to the workforce and gave them reason of such delay. Effective communication skills of the managers developed assurance in the workforce that their efforts will be effectively paid. That's how effective communication played its role in the operations of the company.
  • Numeracy:It is of vital importance that managers and employees working at finance department possess numerical skills to accurately draft numerical data and present authentic information to the stakeholders of the firm regarding its financial statistics. I was not familiar with financial skills needed in Wonder Builders Ltd. To gain this skill, I indulged myself with the financial managers of the firm who taught me how to use financial information to draft budgets, financial reports and most importantly, how to calculate the return on investment. During this process, it was determined, that the return on investment of the company was 20.76%. During the process it came to my knowledge, that any company with rate of investment 15% and above is considered to be a profitable venture. With this impressive return on interest, Wonder Builders Ltd.  Surely would earn profit. Numerical skills help the company in strengthening its financial base. Moreover, accurate financial information gives a detailed report to the firm's stakeholders which in turn helps in formulating competitive strategies.     
  • ICT:Information and Communications Technology refer to the overall communication and integration of telecommunication used by the firm. Wonder Builders Ltd. Makes effective use of ICT in their operations. I learnt how to use power point presentation to present information to the stakeholders. Moreover, effective presentations create a long term impact on the viewers and it is necessary to articulate all the factors possible in presentation to accurately presenting the facts. In my case, although my writing skills are quire impressive according to the managers, but still I fail to present a proper layout in my slides. Moreover, I don't use relevant images which makes it difficult for the viewers to judge my work. However, the managers and the employees have helped me develop these skills and present my work with utmost precision. In addition to this, effective use of ICT in daily operations makes the firm technologically advanced and competent.
  • ProblemSolving:It is required from organisations to solve their problems regarding their management and operations.  It is a skill needed to resolve management problems and could help the firm in driving the firm towards success even in toughest times. I developed problem solving skills by engaging myself with the workers and their supervisors. On daily basis there were problems related to resources, or electricity and even manpower. I learnt how managers carry their duties and ensure proper work even after these problems. The biggest problem faced by the company was at the time of foundation inspection. A critical inspection is performed by the upper management about whether the foundation of the building is effective or not. During inspection, it was found the cement was not appropriately used in the base floor, which could risk the building in case of environment issues like floods or earthquakes. I learnt that despite of having a tight schedule, the upper management did not panic. Moreover, leaders stepped in and solved the issue effectively without exerting much pressure on the team. I learnt to how patience helps in solving the problems effectively. I could effectively use this skill at the time of pressure and occurrence of a problem.
  • WorkingWithOthers:Collaboration is essential whenever the task is performed in groups. Ineffective collaborations results in conflicts and management issues that reduces the efficiency of the firm. It was my perception that it is more effective to work alone than with a team. However, after working with Wonder Builders Ltd. I understood the importance of teamwork. For team development, I would like to relate my experience with Tuckman tool which was developed by Bruce Tuckman in 1965 and aims towards tackling different problems while working in a team.
    • Forming:I realised that during initial stages of the project, workers and employees showed their best behaviour. The atmosphere was encouraging and productive. However, it was required that leaders intervened as the tasks were not clearly defined.
    • Storming:During this stage, it was evident during the time of water proofing stage that conflicts started to occur and there were pressure on the group members.  
    • Norming:However, after foundation inspection, workers started resolving their issues regarding the method of work and strategies to be used.
    • Performing:This stage was progressive. It was the time during exterior finishing that I witnessed satisfaction in employees and progress in the task.
    • Adjourning:The managers after the overall building was successfully built, celebrated with the employees as well as the workers which helped the firm to retain the skilled labour force.
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