END OF PROJECT REPORT

RENATA LTD.
2012
END OF PROJECT REPORT
Muhammad Tanvir Hossain
Student ID: 4325352
C O V E N T R Y U N I V E R S I T Y L O N D O N C A M P U S

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Renata Ltd.
Executive Summary
Your Health, Our Priority
Business Summary: At Renata, we produce two
different type of drugs, Painkiller and Antioxidant.
We have been in pharmaceutical industries for
more than 40 years. Our production facilities
located in two countries, Finland and USA. We
have been established a strong relationship with
numerous distributors throughout the USA, Finland
and France.
Opportunity and Market Gap: Most painkillers
take long time to effect where our painkiller
Rubbana quick and effective way of coping with
mild to severe pain. It take only 15-30 minutes to
start working if taken tablet form. Our antioxidant
comes with Vitamin D, E and essential minerals
where most antioxidants do not have any additional
vitamins and minerals.
Target Market: There are 314 million consumers in
USA and 70 million consumers in Finland and
France. We have reached one hundred million
people over the years and we are growing rapidly.
Customers: Our current customers are 20 million
women and men in the USA, France and Finland,
we do not recommend our painkillers for children
age under 12.
Sales and Marketing Strategy: We are using
extensive marketing campaigns on television,
billboard, magazines, radio, internet, and word by
mouth. Our advertising campaign use easy to
remember slogan and catchy tune, accustomed
with well known logo. We are looking to expand our
market in Asia and Africa where we do not have
any market right now.
Competitors: We have two major competitors in
our market. Eco Lab and Pharmateam. Currently
Company Profile:
URL: www.renata-ltd.com/
Industry: Pharmaceutical Industries
Employees: 450
Founded: 1972
Contact:
Muhammad T. Hossain
hossai14@culc.coventry.ac.uk
M: 0330 001 8381
W: 358-9-39351
F: 358-9-39500
Financial Information:
Use of Funds: Product development
30%, marketing/sales 25%, distribution
10%, operation/ inventory 20%, existing
debt 5%, legal/others 10%
Capital Raised: €20,00,000
Monthly Burn rate: €300,000
Pre-Money Valuation: €100,000,000
Management:
Muhammad T. Hossain, CEO
Unegbu C. Udochi, CFO
Fahima R. Alam, CSO
Advisors:
Lawyer: Dewey and Co.
Investors:
Bank of Finland
Sampo Bank

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we have 50.6% market share globally where Eco Lab's market share is 39.8% and
Pharmateam's market share 9.6% respectively.
Competitive Advantage: We are providing consumers innovative and alternative
products which is not only cure the pain or counteracting the damage substance, it is
also improve physical defence with the help of minerals and vitamins. We have
intellectual property of patents, copyrights, and trademarks for our products Rubbana
and AndyOx under NPSF and NPRL.
Renata Ltd.
John Stenbergin
Ranta 4, Helsinki,
00530, Finland
Tel: 358-9-39351
Financials Round 4 (K
Euro)
Round 5 (K
Euro)
Round 6 (K
Euro)
Revenues 27384 29777 31836
Expenditures 7941 8635 9232
Net
Profit/Loss
19443 21142 22604

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1. Chapter One - Introduction:
In this Business Simulation, I have covered three major disciplines, Sales, Marketing
and Finance. In six business round, I had covered each disciplines twice as a
business manager but the reports based on final three business round.
In the round four, I was a sales manager. Our company's sales strategies and
objective was to acquire 60% market share globally by round five. To achieve our
objectives, I have took strategic marketing plan process, which are: setting
objectives, determining operations, organising for action, implementing, measuring
results and re-evaluating and controlling. Which allowed me to analyse market,
competitors and market share. I have assessed our strengths and weakness by
SWOT analysis and applied marketing mix to achieve our objective.
In business round five, I have covered production. The market condition was positive
and negative for our products Rubbana and AndyOx. Rubbana's demand was
decreased by 10% globally and AndyOx's demand increased by 10% all around the
world. Machinery prices decreased by 20%. As a Production manager my objective
was to reduce production cost by 2%. I have analysed product supply chain, product
life cycle, efficiency and Kaizen process for continues improvement, which allowed
me to look at my production outside the box and help me to gained my objectives.
I have covered Finance in final business round six. In that round my activity was to
reduce gearing ratio by 40% and hedge currency risk to help reducing production
cost and give competitive pricing advantages over competitors. I have took
consideration at our return on capital employed, working capital management to
invest more capital and cash flow from operations than borrowing money from
banks. I have used bottom up budgeting approach because we have different market
conditions and demands in each business round.
Individual reflective dairy discuss about the knowledge and skills I have gained and
developed at CULC in past one year, which are required to achieve my own personal
goals, to become Retail Area Manager by 2015. It is also discuss relevant theories to
know individuals learning style: Honey and Mumford's learning styles questionnaire,
VAK learning styles theory and Belbin team role.

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2. Chapter Two - AR one
1. Introduction:
This is an individual activity analysis report based on Renata Ltd., where in round
four I am sales manager and business decisions provided by me. In this report the
topic below will be discuss in order to manage sales for the pharmaceutical industry
in the major markets of Finland, USA and France.
This analysis report will critically discuss the theories, framework and relevant
decision I took during this round (i.e. Sales). It is also contains key objectives and
strategies for Renata Ltd. which were implemented during this round and the results
of the decisions I took.
 Round Four: Sales
2. Individual Activities: Sales
Market Outlook:
In this round, the demand for AndyOx (antioxidant) will increase by at least 15% in
Finland, USA and France and it has positive effects on the demand of Rubbana
(painkiller). The machinery price will fall and the costs of raw material declining for
AndyOx but rising in Rubbana. Interest rates are growing and dollar strengthening
continue against euro.
Sales strategies:
As a sales manager of Renata Ltd., our sales strategies and objectives are to
acquire 60% market share globally by round five. To achieve our objectives I set
SMART objectives for Renata Ltd. as follows: Figure 1.1

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Any sales activities must be related within strategic marketing plan. These sales
strategies and tactics implemented against a framework is called 'strategic planning
process' (Jobber, D. & Lancaster, G. 2009:48).
Figure 1.2 The planning process (Source: Jobber, D. & Lancaster, G. 2009)
Above figure 1.1 demonstrate our objectives for the firm. As I mention above, our
objective to gain 55% market share within round 4 and 60% market share within
round 5 and keep the market share in round 6 by increasing product quality and
marketing mix.
Situation analysis:
The situation analysis is the precise content in preparing marketing plan which
required internal and external audit (i.e. SWOT analysis).
Competitor analysis:
Current market demand for Rubbana in Finland, USA and France are 72.14 (K
Units), 210.76 (K Units) and 107.54 (K Units) respectively as it has 5% positive
influence over current market demand for the increase demand of AndyOx.
AndyOx's current market demand in Finland, USA and France are 140.10 (K Units),
278.44 (K Units) and 136.56 (K Units) correspondingly.

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Sales of the current round for Renata Ltd. and its competitors in the market are in the
following graph 1.1:
Sales (K Units):
Source: SimFirm
In this graph 1.1 shows Renata's total sales of Rubbana and AndyOx are more than
its competitors Pharmateam and Ecolab Pharma Ltd. For example: in Finland, USA
and France Renata sales of AndyOx 44.60 (K Units), 94.11 (K Units) and 78.12 (K
Units) respectively whereas closest competitor Ecolab's sales on AndyOx is 36.92 (K
Units), 76.95 and 40.63 in that order.
Share analysis:
Our objectives to acquire market share 55% by the end of the round four. Renata's
current market share after round 3 globally in the following graph 1.2:
Market share after round three:
Source: SimFirm
0.00
10.00
20.00
30.00
40.00
50.00
60.00
70.00
80.00
90.00
100.00
Series1
Series2
Series3
0.00
10.00
20.00
30.00
40.00
50.00
60.00
70.00
Series1
Series2
Series3

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After round three Renata Ltd. market share for Rubbana in Finland, USA and France
is 35.16%, 37.29% and 63.12% respectively. For AndyOx Renata's market share
36.61%, 38.87 and 65.78 in that order.
SWOT analysis:
In general assessment of a firm's strengths, weaknesses, opportunities and threats
is called SWOT analysis (Kotler P., Keller K., Brady M., 2012:111). SWOT analysis
allow firm's to monitoring its internal and external marketing environment. it is
important for a firm to monitor major microenvironment actors and macro
environment forces (Kotler P., Keller K., Brady M., 2012:111) factors that affect its
ability to earn profit. Firm also should set up marketing intelligence system to find out
trends, opportunities, threats and important development. Figure 1.3 SWOT analysis:
Source: SWOT analysis (Kotler P., Keller K., Brady M., 2012)
As in current market outlook Renata Ltd. has great opportunities to capture its target
market share. Demand of AndyOx(antioxidants) will increase 15% in the all market
and it has positive effects on Rubbana(painkillers). As a sales manager, for my firm I
have opportunities to gain market share in Finland and USA for Rubbana. Our
current market share for Rubbana in Finland and USA are 35% and 37%
respectively.
Renata Ltd. strengths are leading market share globally for Rubbana 44% and
AndyOx 45%. Its competitors Pharmateam has 22% and 23% for Rubbana and
Strengths Weaknesses
Opportunities Threat
SWOT

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AndyOx in that order and Echo Lab has 35% and 32% market share globally for its
products Rubbana and AndyOx correspondingly.
Renata's weakness is in its homeland as the firm facing stiff completion from
Pharmateam as well as Echo Lab. Even though Renata has more market share in
Finland for both products but its competitors are gaining more market share over the
past few rounds.
To achieve our sales and market share target in round four, I have followed
Marketing Mix. Figure 1.4 Marketing mix:
Source: Marketing Plan
E. Jerome McCarthy describe market segmentation by far is the most important
decisions within marketing programme (Jobber, D. & Lancaster, G. 2009). Neil
Borden termed the marketing mix as the central concept of modern marketing
practice (Borden, N.E. 1964).
In Finland, product price for Rubbana and AndyOx is 257.0 EUR (K Unit) and 197.0
EUR respectively. Compare to previous year the decrease the price of Rubbana and

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AndyOx by 3.0 EUR (K Unit) and 1.0 EUR (K Unit) respectively because of cost of
raw materials for antioxidants are declining. Sales promotion for Rubbana in Finland
I invested 250 EUR (K) for advertising and 250 EUR (K) for customer care. For
AndyOx advertising and customer care budgets are 250 EUR (K) and 250 EUR (K)
correspondingly to achieve my sales and market share objectives as Finland is my
weakest place.
USA has the most market demand for both products per sales unit compare to
Finland and France. Because of the more demand in USA for both products I
increased the sales promotion budget than last year 240 EUR (K) for advertising and
240 EUR (K) for customer service. Price for AndyOx and Rubbana are 262.0 USD
(K) and 342.0 USD (K) in that order.
In France, price per unit for Rubbana and AndyOx 258.0 EUR (K) and 198.0 EUR
(K) respectively. Compare to the last year price, I have decrease the price for price
penetration to gain more sales and market share as already Renata has more than
60% market share in France. The budget for sales promotion for both products 925
EUR (K) in France.
After using the sales planning process framework, SWOT analysis and marketing
mix as well as with the consideration of market outlook for round four my forecasted
sales are as follows: Table 1.1
Table 1.1: Sales forecast:
In this table 1.1 I have followed the quantitative techniques 'Moving averages'
(Jobber, D. & Lancaster, G. 2009:469) to forecast my sales for this round. The
results of the current round sales are as follows:
Round Four
Rubbana (K Units) AndyOx (K Units)
Finland 40.00 77.00
USA 116.00 153.00
France 68.00 90.00

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Sales (K Units):
Source: SimFirm
In France, I have sold more than I forecasted but in Finland and USA my sales are
less than expected.
3. Conclusion:
In conclusion, I would say as a sales manager I have achieved one of my objectives
after round four is selling more products in France. But I have also failed to capture
55% sales and market share globally. Renata's current market share after round four
48.68%. As a Global Business student, it was a challenging task for me to handle
selling and sales management in the real business environment. The decision I have
taken without deep knowledge in previous round were analysed by me this time by
understanding the framework and theories involve within the sales related tasks.
Pharmateam
Echo Lab0.00
20.00
40.00
60.00
80.00
100.00
120.00
Pharmateam
Renata Ltd.
Echo Lab

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3. Chapter Three - AR two
1. Introduction:
This activity report is a significant assessment report of Renata Ltd., written based
on the verdicts provided by me, as a production manager for the decision area in
round 5. This business productions are in the pharmaceutical industry in the major
markets in USA and Finland.
In this round five, the market condition was both positive and negative in condition of
demands compare to round four. The demand for painkillers (Rubbana) decreasing
by 10% all around the world and demand for antioxidants (AndyOx) are doing strong
and expected to rise 10% in all markets. Consequently, I have an opportunity to help
gain competitive advantages by analyzing product life cycle for both Rubbana and
AndyOx. Renata Ltd., objective is to gain 60% global market share by the end of this
round. As the objective is expand global market share by 60%, it is also my
responsibilities to know current market sales globally to calculate exact production to
maximise production capacity utilization.
The market condition for machinery prices are decreasing by 20% and raw materials
prices for Rubbana are increasing and AndyOx materials prices are declining in their
individual trends. These conditions has both negative and positive factors for me as
a production manager in a respective way, where Rubbana will increase the product
per price and AndyOx product per price will be less which has effects on profitability.
My objective is to reduce production cost 2% in this round by using allocative
efficiency, technical efficiency, cost efficiency and measuring efficiency as well as
improving production efficiency.
2. Individual Activity: Production
Production is the methods and processes which involves to transform tangible inputs
(i.e. semi finished goods, subassemblies, or raw materials) and intangible inputs (i.e.
knowledge, information, or ideas) into goods or services (Business Dictionary, 2012).
As a production manager I set production target for Rubbana and AndyOx to meet
Renata's objectives as well as my objectives to reduce production cost by 2%.
2.1 Product supply chain:
Previously, production cost and supply chain have not been the major key method in
achieving a competitive lead in pharmaceutical industries. However, these factors
carry important potential for a cost and capital optimization, which allows in an
increasing competitiveness.
To discover the potential in supply chain and production, I must follow a holistic
approach which contains of four dimensions:

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 Production strategy and supply chain
 Network organization
 Capacity utilization and
 managing the difficulty of process and products
A plan-do-reflect-review cycle around these four dimension will be cornerstone for
production and supply chain excellence. See Figure 2.1:
Plan-do-reflect-review cycle:
Source: London Deanery
My communication with my sales and finance manager clear and transparent to
ensure on time production planning and maximise the capacity utilization to increase
products margins. In this round, my capacity utilization in USA 98.0, which is same
as Finland. As this below supply chain model (figure 1.2) shows, I have to
manufacturing plant in USA and Finland and I have customer in three different
countries France, Finland and USA. I am sending my finished goods in France from
Finland as logistic cost if less Finland to France than USA to France, transportation
cost 3.10 (EUR/Units) and 5.00 (EUR/Units) respectively.

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Figure 2.2: Product supply chain
Source: World trade group.
2.2 Product life cycle:
Product life cycle first introduced by Theodore Levitt in 1965. The concepts of this
model is to analyze the maturity stage of products and industries. This model allows
managers and consultants to have and understanding the stage of a product and
provides information about expected future sales growth and what kind of strategies
need to be implemented.
Figure 2.3: Product life cycle
Source: Tom Spencer (tomspencer.com)

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According to the market analysis Rubbana(painkillers) sales in decreasing by 10%
all over the market and Rubbana as from the product life cycle is in declining stage.
My strategy is to reduce production of Rubbana compare to round four in USA and
Finland. My target production of Rubbana in Finland and USA is 111.71 (K units) and
98.46 (K units) in that order.
The demand for AndyOx(antioxidants) are still growing strong in all markets. By
product life cycle curve AndyOx still in growth stage, therefore Renata Ltd. has an
opportunity to capture growing market by producing more quality AndyOx. As a
production manager I have invested in machinery and buildings to improve total
production capacity in Finland and USA, 90 (K units) and 20 (K units) respectively.
Renata's objective is to gain 60% market share by the end of this round, for that
reason the production of AndyOx in Finland and USA is 162.5 (K units) and 165.94
(K units) correspondingly.
2.3 Efficiency:
Efficiency refers to the global relationship between all outputs and inputs in a
production process (Speelman et al., 2008). As a production manager my concern
with efficiency to gain my production objectives as well as Renata's objectives. There
are several efficiency related to production which has significant impact on resource
saving, which can be valuable effect on policy formulation and farm management
(Bravo-Ureta & Rieger, 1991).
 Technical efficiency
 Allocative efficiency
 Cost efficiency and
 Measuring efficiency
Technical efficiency is the combination of inputs with minimum uses of labour and
capital to produce a certain amount of goods. Production wages is rising in Finland
and USA than previous round. Current wages rate in Finland and USA is 49.00 (K
EUR) and 51.00 (K EUR) respectively. As a production manager I have invested in
production efficiency (k units/person) in Finland and USA to person in production to
cope with current wages rate. Graph 1.1 illustrate that:

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Graph 1.1 Production efficiency in Finland:
Source: Cesim Sim Firm
I have invested 3.72 (k units/person) and 3.12 (k units/person) in Finland for
Rubbana and AndyOx correspondingly to improve cost efficiency and technical
efficiency to save capital investment on wages and gain competitive advantages
over competitors.
2.4 Kaizen process:
Kaizen means continues improvement. In this process it has never ending efforts on
improvement engaging managers to workers. Figure 1.4 illustrate Kaizen process:
Figure 1.4 Kaizen Process:
Source: Business Coach (insbeco.com)
0
0.5
1
1.5
2
2.5
3
3.5
4
PharmateamRenata Ltd.Ecolab Pharma Ltd.
Rubbana (k units/person)
AndyOx (k units/person)

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I have applied Kaizen continues improvement process to avoid wasting my
resources. I have invested to improve quality control for Rubbana and AndyOx by
1600 (K EUR) and 1550 (K EUR) respectively, which allowed Renata to provide
quality products to the customers and earning satisfaction and loyalty which is
valuable for the organization. I have also invested to improve cost of investment to
achieve Renata's objective to acquire 60% global market share by the end of this
round and reduce production cost by 2%. However as an organization we have failed
to achieve our target market share. At the end of the round 5 our market share is
51.20 % for Rubbana and AndyOx but we have reduced our production cost 1.8%.
3. Conclusion:
In conclusion, I would like to say for organization production is a very important
sector. As a production manager I have to reconsider some of my decision which I
took during this round. The opening inventory I had from last round is increased
89.20 (K units) and 91.38 (K units) for Rubbana and AndyOx in that order which is
more costly for Renata Ltd.
I would recommend sales and finance manager to discuss with me for setting up
sales target for round 6 so that I do not have to hold bulk number of units in storage.
I have experience tough time with maintaining machinery as they have 25%
depreciation and at the same time building has only 5% depreciation.
Finally, I have developed few important skills during this business round which I had
lacked before, for example: the importance of efficiency. Although I have not fully
understand what is profit efficiency, revenue efficiency and economic efficiency
which I would like to improve during next round where I will be a finance manager.

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4. Chapter Four - AR three
1. Introduction:
This is an activity analyse report based on Renata Ltd., where in round six, business
decisions taken by me as a finance manager. This financial business report for the
pharmaceutical industries in the major market in Finland, France and USA.
In this round six, the market condition is positive and negative either way in the
perspective of finance. The rise of the demand for cement and steel production in
Asian countries increase the costs of building materials approximately 40-50% all
over the world. As a finance manager, I am using budgeting to gain economies of
scale, to reduce production costs by 2% to expand competitive advantages over our
competitors in the market and achieve 60% market share globally in this round six. In
this case, investing minimum on buildings and taking advantages of advanced
technology for machineries.
Euro is expected to strengthen against USA in the market and European central
bank commence to lower the interest rates, it has both positive and negative effects
on decision making process as a finance manager. To reduce the risk, I am
considering gearing and risk management, as well as working capital management.
My objective in this round is to reduce gearing ratio to 48% and hedge currency risk
to gain more on return on capital employed, where the current gearing ratio is:
50.88%.
2. Individual Activity: Finance:
Finance is a branch of economics concerned with resource allocation as well as
acquisition, investment and resource management (Investor Words, 2012). It can be
also describe money and market, where money rise through sales of debt and/or
equity and insurance. There are three basic sources of company’s funds: which are
shareholders (owner of the business), lenders (i.e. Banks, venture capitalists,
government) and retained profit in according rounds (Proctor 2009: 45).
One of the main part of finance is investing. investment involves resources being laid
aside now to produce a return in the future, for example, investing building and
machinery tools to produce goods for next year (Arnold, G. 2008:20). In the chart 2.1
below shows how cash flows within the organization:

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Chart 2.1: Cash flow cycle
Source: Business Education
In this cycle, cash is used to purchase raw materials, wages and other production
costs. Finish goods are sold to generate more cash and some external debts, which
will allow me to have better understanding of gearing.
2.1 Gearing:
Gearing ratio describe a financial ratio that indicates company's relationship between
some forms of owner's equity or capital to borrow funds. This activity allow measure
of financial influence by owner's funds versus creditors funds (Investopedia, 2012).
Organizations profit varies on how much the organization borrowed because it has
effects on profitability, as organization has to pay interest on borrowing funds. My
objective is to reduce gearing ratio to 48% as Renata's current gearing ratio is
50.88%.

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The long-term liabilities also include preference shares and mortgages where capital
employed includes share capital, retained earnings and long-term liabilities. Where
Renata's long-term liabilities 75,000 and share capital is 5,000.
Graph 2.1: Current gearing ratio
Source: Cesim sim firm
In the graph 2.1 illustrate, as a finance manager, I was able to increase the profit of
the organization to reduce gearing below 50% from previous round. The current
gearing ratio is 48.43%, where my objective was to reduce 48%.
2.2 Return on capital employed (ROCE):
ROCE referred to the business returns (profits) had made on the resources available
on to it. It is calculate the percentage of profits earned before paying taxes and
interest versus total (entire) amount of capital invested to earn profit. The higher
percentage of ROCE is better for the business.
I have invested on production efficiency 10.0 (K Units) in USA and Finland, as well
as I have invested on cost efficiency improvement to minimize the production cost to
earn maximum profit. It allows me to gain more ROCE. After round six the return on
capital employed is: 16.08%. The ROCE has few drawbacks, such as it measures
return against the book value of assets in the business. As the assets has
depreciated value, The ROCE will increase but cash flow will remain same.
47
47.5
48
48.5
49
49.5
50
50.5
51
Round Five Round Six
Gearning Ratio
Gearning Ratio

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2.3 Working capital management:
Every firm need to invest in order to prosper. To invest new factory or new
machinery is the part of long term investment. It is also necessary to expand in
additional resources devoted to current assets (Arnold, G. 2008:529). The figure 2.2
shows the working capital cycle for a typical firm, such as Renata Ltd. as it is a
manufacturing firm rather than business services.
Exhibit 2.2: The working capital cycle
Source: The working capital cycle
As on the diagram, in the upper part where capital invested in raw material
inventories which are then used in the production process. Some of the finish goods
then sold for cash and rest are sold on credits. As a finance manager, I have
invested in raw materials and production efficiency as raw materials and wages
prices are going up in global market. Current wages of production in Finland is 49 (K
EUR) and 51 (K EUR) in USA respectively.
The bottom part of the diagram 2.2, shows non-working capital cash flow. These are
generally long term expenses. In the market condition, building cost rises 40-50%
and my objective is to reduce production cost by 2% in this round. As a finance
manager, I did not invest any amount on new buildings because of investment
expenses on building in Finland and USA are 215 (EUR/unit) and 158 (EUR/unit)

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respectively compare to round five 145 (EUR/unit) and 107 (EUR/unit) in that order.
To manage the currency risk, I have cross currency swap agreement with my raw
materials suppliers:
Exhibit 2.3 Cross currency swap:
Source: Bank for international settlements.
And I was able to reduce my production cost by 5.62% compare to previous round,
where my objective was to reduce by 2%.
2.4 Budgeting:
I have used bottom up budgeting approach to reduce production, sales cost and
effective use of logistic to use minimise unit cost. Considering the rise of material
cost for building and raw materials as well as transportations. Figure 2.4: bottom up
budgeting
Exhibit 2.4 Bottom up approach
Source: Government of Pakistan, ministry of finance
By using bottom up approach I have decided to utilize 100% production capacity to
maximise the use of space and inventories. My sales and marketing budget (Refer
Appendix 1) was to achieve our main objective to gain 60% market share globally.
We have failed to capture 60% market share, where our global market share after
this round is: 50.66% and at the same time our competitors Pharmateam and Ecolab
Pharma has 9.35% and 39.99% correspondingly.

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3. Conclusion:
In conclusion, I would say the budget operations and finance is very important in an
organization. As a finance manager I have faces many challenges to achieve our
objectives, which ultimately we have failed to achieve.
The decision I have took without having more financial knowledge in previous round
helped me to gain more experience and better understanding of some of critical
financial aspects, such as gearing, ROCE, risk management and working capital
management which allowed me to achieve my objectives as a finance manager in
this round to reduce production cost by 2% and minimize gearing ratio to 48%.
Finally, I have developed couple of crucial skills during this round, such as currency
and exchange rates, gearing etc. My personal development plan is to gain more
knowledge in finance as it is a very vast subjects and there are few interesting
concepts and which I will learn during my MBA at Coventry University, for example:
shareholder value-based management, total shareholder return, dividend policies,
value sharing and stock exchange.

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5. Chapter Five - Individual Reflective Diary
1. Introduction:
In this reflective diary I will briefly discuss and analyse the key skills I have gained
and developed during my time at Coventry University, which will help me to achieve
my goal to become an Area Manager of Retail Industry. I have assessed myself
using the core skills assessments test (see appendix 1) and SWOT analysis (see
appendix 2) and identified the skill gaps, which I need to develop to achieve my goal.
Confuscius said, over 2000 years ago: ‘When three of us are walking together I am
sure to have a teacher. Having noted his competences, I imitate them: his
incompetences I avoid.’ (Cameron 2009)
2. Relevant theories:
I will be discussing briefly three different learning styles and team work model which
helped me develop individually and at the same time as a part of a team, which
include Honey and Mumford's learning style questionnaire (LSQ), VAK learning style
theory, and Belbin team role (please see in appendix 5).
2.1 Honey and Mumford's learning styles questionnaire (LSQ):
Honey and Mumford's learning style, based on Kolb's learning cycle. It has four
different learning styles: Activist, Reflectors, Theorists and Pragmatists.
Source: GP Education and Training Resource.

26 | P a g e
Based on these four learning styles, I was able to recognize myself as a mixture of
activist and reflector. I was also able to explore my basic strengths and weakness of
those groups. My opportunity to know how to communicate with other learners and
which is the best way to approach and motivate them, increased self awareness and
team-working skills.
2.2 VAK learning styles theory:
The VAK learning styles theory, is based on the sensory modes of capturing data,
the way individual learns. There are three main categories of learners according to
the theory, Visual, Auditory and Kinesthetic. The receiving modes can be one or
more, for example: bi- or even tri-modal.
Source: Johns Hopkins University, School of Education.
After taking VAK questionnaire (appendix 3), I have learned that I was 50% and 46%
kinesthetic or tactile learner. My reflections from this outcome, I became more
acknowledge of my skills and start taking notes and visual audience, which gave me
confidence to build my strengths, and to develop my weaknesses.

27 | P a g e
3. Reflection on personal development:
3.1 Knowledge gained:
At CULC, I have covered a broad range of disciplines, such as International
Investment Analysis, Global Business Simulation, International Marketing Strategy,
International HRM and International Business Strategy. I have gained knowledge in
all of the disciplines but especially in IBS, Marketing and Business Simulation.
I was intend to write dissertation when I heard that Business Simulation is very
tough. But then I challenged myself to do it because I am an activist learner as well
as reflector learner and Simulation is real-world business situations.
Other things that I took on board during Simulation, concentrating on the four
different disciplines at the same times, Production, Sales and Marketing and
Finance. I wasn't afraid to test myself to improve my knowledge in real-time business
situations, how marketing effects on sales and how to decrease production costs,
considering hedging funds, improving per person productivity, quality controls and
analyse market demands and implement them accordingly.
3.2 Skills developed:
I have develop few skills which I mentioned during my Personal Development Plan in
DBP.
3.2.1 Information and technology communication skills:
I have developed this technical competence in PowerPoint presentation application
software. I wasn't able to use PowerPoint effectively before. I have attended
computer classes offered at the University, which allowed me to develop some other
IT skills as well, such as Microsoft Word and Excel.
3.2.2 Planning and delegation skills:
By learning Belbin's team role, I have developed my planning and delegation skills.
My group member helped me to develop plant and implementer to get best out of the
team. I had a training session at work for planning and delegation, which allowed me
to plan in advance and monitor the activities and improving the plan by getting
feedback from my manager.
3.2.3 Communication skills:
When I have looked for employment in recruitment web sites, most employers
mention about this skills. I involved myself in class activities, such as debate in
marketing and HRM module.
With participating events at CULC, such as Synergy and elevator pitch in DBP, I was
able to speak and write essays and business reports at work and at University using
good business English.

28 | P a g e
3.3 Skill gaps:
The challenges I have faced during my past modules, was to develop research and
investigative skills, concerning retrieving relevant data and analyse case studies. I
have also lack in leadership skills in term of team work, organizational strategies,
training and development.
Source: Beardwell and Claydon (2010)
After our first group presentation during Business Simulation, I had this feedback
from my tutor Mr. Wale, that I have lack of leadership skills where I missed our main
objectives for your organization. I have failed to fill the gap of our group
ineffectiveness.
4. Relevance and value:
As I mention before I would like to work in the Retail Industry as an Area Manager.
However, as an employee I am interested in finding the role of London supermarket's
online customer service. The role of Area Manager(see more in appendix 4) are
planning, communication, decision making and problem solving, conducting
interviews, risk management and leadership. The knowledge I have gained from all
disciplines, especially from Business Simulation, Marketing and Finance will help me
to calculate risk, productivity, current market and capture the opportunities to
minimise the threat and weaknesses to gain competitive advantages over
competitors.
I have concentrated on employability skills especially my communication, IT and
planning and delegating skills because those skills are most essential by the

29 | P a g e
employers, as they require their employees to speak, listen, read and write
resourcefully as successful communication is vital for business.
5. Conclusion:
In conclusion, I would like to say, I was able to identify the most important areas of
learning and took decisions which actions that will enable me to gain or develop my
existing skills. As I have mention above, I need to improve my research and
investigative skills as well as leadership skills which I required for the job I would like
to apply in future. I also need to improve some other skills which are crucial for my
future goal, such as team working, learning and personal management skills.

30 | P a g e
6. Bibliography:
Books:
Arnold, G., (2008). Corporate Financial Management, 4th Edition, Pearson
Education Limited, England.
Ajibefun, I.A., & Daramola, A.G. (2003). Determinants of Technical and Allocative
Efficiency of Microenterprises: Firm-level Evidence from Nigeria. African
Development Review, 15(2-3): 353-395.
Beardwell, J., Claydon, T. (2010) 5th Edition Human Resource Management: A
Contemporary Approach. Harlow: Financial Times Prentice Hall
Cameron, S. (2009), 5th Edn. The Business Student's Handbook: Skills For Study
And Employment. Pearson Education Limited, England
Jobber, D. & Lancaster, G. (2009), 8th Edn. Selling and Sales Management.
Pearson Education Limited, Essex, England.
Kotler, P., Keller, K.L., Brady, M., Goodman, M., Hansen, T., (2012), 2nd Edn.
Marketing Management. Pearson Education Limited, Essex, England.
McCarthy, E.J. (1960) Basic Marketing: A Managerial Approach, Irwin, Homewood,
IL.
Proctor R (2009) Managerial Accounting for Business Decisions (3rd Ed) Harlow.
FT/Prentice Hall
Sadler-Smith, E., Evans, C. (2006) Learning Styles in Education and Training.
Emerald Group Publisher.
Speelman, S., D’Haese, M., Buysse, J., & D’Haese, L. (2008). A measure for the
efficiency of water use and its determinants, a case study of small-scale irrigation
schemes in North-West Province, South Africa. Agricultural Systems, 98(1): 31-39.
Journals:
Borden, N.E. (1964) 'The concept of marketing mix', Journal of Advertising
Research, 4(June), pp. 2-7
Online Resources:
1000 Ventures. [online] available from
<http://www.1000ventures.com/design_elements/selfmade/kaizen_culture_8element
s_6x4.jpg>

31 | P a g e
Allocative Efficiency, Agency for Healthcare Research and Quality. [online] available
from <http://www.ahrq.gov/qual/efficiency/hcemappa.htm> [2012]
Aurora TDS. [online] available from <http://www.aurora-
tds.co.uk/belbinforyoungpeople.html> [February, 2012]
Bank for international settlements. [online] available from
<http://www.bis.org/publ/qtrpdf/r_qt0803z.htm>
BELBIN TEAM ROLES. [online] available from <http://www.belbin.com/rte.asp?id=8>
[2012]
Business Education. [online] available from
<http://www.bized.co.uk/reference/diagrams/The-Flow-of-Working-Capital---Cash-
Flow-Cycle> [16.07.2001]
Business Dictionary. [online] available from
<http://www.businessdictionary.com/definition/production.html> [2012]
Business Coach. [online] available at
<http://www.insbeco.com/1000ventures/products/bec_mc_cif.html>
Capgemini Consulting. [online] available from <http://www.capgemini-
consulting.com> [2012]
Cesim, Sim Firm. [online] available at
<http://sim.cesim.com/results/se/IncomeStatementPage/wicket:pageMapName/wick
et-0>
Cesim, Sim Firm. [online] available at
<http://sim.cesim.com/results/se/ProductionPage/wicket:pageMapName/wicket-0>
Cesim, sim firm. [Online] available from
<http://sim.cesim.com/dss/se/OutlookPage/wicket:pageMapName/wicket-0>
[22.08.12]
Investopedia. [online] available from
<http://www.investopedia.com/terms/g/gearingratio.asp> [2012]
Investor Words.[online] available from
<http://www.investorwords.com/1940/finance.html> [2012]
Johns Hopkins University, School of Education. [online] available from
<http://education.jhu.edu/PD/newhorizons/strategies/topics/Learning%20Styles/playg
round.html> [September, 2002]
GP Education and Training Resource. [online] available from <http://www.gp-
training.net/training/educational_theory/reflective_learning/learning_styles/introductio
n.htm> [February, 2011]

32 | P a g e
Government of Pakistan Ministry of Finance. [online] available from
<http://www.mtbfpakistan.gov.pk/mtbf-process-bottomup.htm>
London Deanery. [online] available from <http://www.faculty.londondeanery.ac.uk/e-
learning/assessing-educational-
needs/when/view?portal_status_message=Error%20creating%20PDF%20file>
Marketing Plan. [Online] available from <http://www.marketingplan.net/marketing-
mix/> [31.08.12]
The Working capital cycle. [online] <http://withfriendship.com/user/boss/working-
capital.php>
Tom Spencer. [online] available from
<http://www.tomspencer.com.au/2009/01/25/product-life-cycle-model/> [25.01.2009]
World Trade Group. [online] available from <http://www.wtgnews.com/2010/08/the-
supply-chain-strain-is-changing-the-way-manufacturers-do-business/> [2012]

33 | P a g e
7. Appendices:
AR Three - Finance
Appendix 1: Sales and marketing cost
Individual Reflective Diary:
Appendix 1: Core skills assessment
Use this template to rate your skill level against each of the QAA Core Skills for
International Business Students. For more information, refer to page 7-8 in Cameron
(2009).
Core Skill Skill Rating
(1–10)
Low =1 –
High = 10
Evidence
Insert an example to support
your rating
Cognitive skills: critical
thinking, analysis and synthesis
6 Before taking this module I
believed what theories say. I
never used to look for an
alternative theory or ask
question to me why this is
perfect for everyone. Now I am
looking for a different courses
and weakness or advantages of
any task or theories. For
example: Maslow’s hierarchy of
needs. Depends on individuals
the pyramid varies. For disable
people they need love and
caring more than other needs.
Problem solving and decision
making: using quantitative and
qualitative data
7 At work I take quick decision
and solve problem according.
For example: I have checked
last week sales report for our
company and saw one of our
style selling really well and it

34 | P a g e
wasn’t even on display, so I put
them on display and in that day
we sold couple of them.
Research and investigative
skills: as part of individual and
team assignments
6 In research and investigate, as
an individual my skill is fair but
as team assignments I do
always very good results. As a
Team Leader for 2 groups at
university and at my work I my
duties are to research and
investigate on others and make
sure they are doing their
assigned task and serve as a
group. My group score was 65
and 70 respectively in DBP and
IBS.
Information and
communications technology
skills: using a range of
business applications
7 I was an IT student before. And
moderate user of MS Office. To
communicate I use all sort of
resources such as mobile,
email, text and internet.
Numeracy and quantitative
skills: data analysis,
interpretation and extrapolation
7 Once taught I am very good at
calculation, analysis and ratios.
I am doing it every day at work
as a Team Leader like hours,
productivity and personal
targets.
Communication skills: oral
and written English, using a
range of media
6 Verbal or nonverbal
communication I am very good
but I am not good at writing. An
average person. But I want to
improve it. In my IELTS test I
scored only 5.5 on writing but
overall score was 6.5.
Interpersonal skills: talking,
listening and negotiation
7 I can talk, at the same time I
can listen to others and give
appropriate answer to the
receiver. My negotiation skill is
very good because I know how
to explain. In the class I always
participate with lecturer, I listen
to them and I ask questions. In
group activities I listen to the
group members, share my ideas
and come up with the best
solution and distribute between
them what needs to be done.
Team-working skills:
leadership, team-building,
influencing others
7 I am a Team Leader in world
largest shoe company and I am
managing almost 90 people in

35 | P a g e
my store. My learning of the
product knowledge and latest
information around the world
about fashion and design make
stand out from my colleagues
and sales team member. I can
influence and motivate other to
bring out what lies within them.
Personal management skills:
time management and planning,
motivating yourself, using
initiative
6 Time management is pretty
good when it's come to serve on
time at work or at university. I
submit my papers on time and I
never leave pending works for
tomorrow at work. I motivate
myself doing hard work and
getting feedback from lecturer
and from my store manager.
Learning skills: reflective,
adaptive and collaborative
6 Throughout my student life I am
a very good learner on practical
work rather than text book. I can
adapt any environment easily. I
am mixture of active and
pragmatic learner.
Self-awareness: sensitivity
and openness to others who are
different to you, emotional
intelligence
8 I am open to others and I
observe others so that I can
have an idea and how to deal
with them. I always keep in
touch with my colleagues and
those who need personal
assistant to finish their course or
job.
Appendix 2: SWOT analysis
Use this section to create your SWOT (Strengths, Weaknesses, Opportunities and
Threats) for your current study and future career plans.
MY STRENGTHS
 Hardworking
 Good Listener
 Team Player
 Communicative
 Eager to learn
 Active
 IT skilled
 Strong public speaker
 Self-awareness
 Interpersonal skills i.e. listening and
presentation skills
MY WEAKNESSES
 Lack of planning
 Lack of delegation
 Lack of time management
 Critical thinking
 Research and investigative skills
I get nervous sometimes when doing
presentation and to do list give me
stress.

36 | P a g e
I am a creative person and I often impress
my manager with my IT skills. I also ask
question during class or management brief
to get the best idea of the subjects.
MY OPPORTUNITIES
 Can be score excellent grades at
university
 To become a successful manager
 Allow me to gain access in different
business fields.
I am able to manage myself and able to
work independently and with others
successfully.
I am self aware and can communicate in
three different language fluently, Hindi,
Urdu and English where my opportunity to
work in India as she is the immerging
nation.
At work my assistant manager leaving
soon for her maternity leave. I am covering
her while she is away.
MY THREATS
 Other graduates at the job market
 Might be score poor grades at
university
 My group members
 Poor job market
 Recession
For economic recession globally firms
are cutting funds and it is a big threat
for me.
Appendix 3: VAK learning styles questionnaire
visual auditory
kinesthetic/physical
1
when
operating
new
equipme
nt for the
first time
I prefer
to
read the
instructi
ons
listen to or
ask for an
explanation
have a go and
learn by 'trial
and error'
K

37 | P a g e
2
when
seeking
travel
direction
s I..
look at a
map
V
ask for
spoken
directions
follow my nose
or maybe use
a compass
3
when
cooking
a new
dish I..
follow a
recipe
V
call a friend
for
explanation
follow my
instinct, tasting
as I cook
4
to teach
someone
somethin
g I..
write
instructi
ons
explain
verbally
demonstrate
and let them
have a go
K
5
I tend to
say..
"I see
what
you
mean"
"I hear what
you are
saying"
"I know how
you feel"
K
6
I tend to
say..
"show
me"
V "tell me" "let me try"
7
I tend to
say..
"watch
how I do
it"
V
"listen to me
explain"
"you have a
go"
8
complain
ing about
faulty
goods I
tend to..
write a
letter
phone
go back to the
store
K

38 | P a g e
9
I prefer
these
leisure
activities
museum
s or
galleries
music or
conversatio
n
physical
activities or
making things
K
1
0
When
shopping
generally
I tend to..
look and
decide
discuss with
shop staff
try on, handle
or test
K
1
1
Choosin
g a
holiday
I...
read the
brochur
es
V
listen to
recommend
ations
imagine the
experience
1
2
Choosin
g a new
mobile
I...
read the
reviews
V
discuss with
friends
Test it in a
shop
1
3
learning
a new
skill
I watch
what the
teacher
is doing
V
I talk
through with
the teacher
exactly what
I am
supposed to
do
I like to give it
a try and work
it out as I go
along by doing
it
1
4
Choosin
g from a
restaura
nt
menu...
I
imagine
what the
food will
look like
I talk
through the
options in
my head
I imagine what
the food will
taste like
K

39 | P a g e
1
5
when
listening
to a band
I sing
along to
the
lyrics (in
my head
or out
loud!)
I listen to
the lyrics
and the
beats
I move in time
with the music
K
1
6
When
concentr
ating I...
focus on
the
words or
pictures
in front
of me
discuss the
problem
and
possible
solutions in
my head
move around
a lot, fiddle
with pens and
pencils and
touch
unrelated
things
K
1
7
I
rememb
er things
best by...
writing
notes or
keeping
printed
details
saying them
aloud or
repeating
words and
key points
in my head
doing and
practising the
activity, or
imagining it
being done
K
1
8
my first
memory
is of
looking
at
somethi
ng
V
being
spoken to
doing
something
1
9
When
anxious,
I...
visualise
the
worst-
case
scenario
s
V
talk over in
my head
what
worries me
most
can't sit still,
fiddle and
move around
constantly

40 | P a g e
2
0
I feel
connecte
d to
others by
how
they
look
V
what they
say to me
how they
make me feel
2
1
When I
revise for
an exam,
I..
Write
lots of
revision
notes
(using
lots of
colours!)
V
I talk over
my notes, to
myself or to
other
people
imagine
making the
movement or
creating the
formula
2
2
When
explainin
g
somethin
g to
someone
, I tend
to..
show
them
what I
mean
V
explain to
them in
different
ways until
they
understand
encourage
them to try
and talk them
through the
idea as they
try
2
3
my main
interests
are
photogr
aphy or
watchin
g films
or
playing
compute
r games
listening to
music or
listening to
the radio or
talking to
friends
physical/sports
activities or
food or
dancing
K
2
4
Most of
my free
time is
spent..
watchin
g
televisio
n
V
talking to
friends
doing physical
activity or
making things

41 | P a g e
2
5
When I
first
contact a
new
person..
I
arrange
a face to
face
meeting
I talk to
them on the
telephone
A
I try to get
together to
share an
activity
2
6
I first
notice
how
people..
look and
dress
V
sound and
speak
stand and
move
2
7
If I am
very
angry..
I keep
replayin
g in my
mind
what it
is that
has
upset
me
I shout lots
and tell
people how
I feel
I stomp about,
slam doors
and throw
things
K
2
8
I find it
easiest
to
rememb
er
faces V names
things I have
done
2
9
I think I
can tell
someone
is lying
because.
.
they
avoid
looking
at you
their voice
changes
the vibes I get
from them
K
3
When
I'm
I say
"it's
I say "it's
great to
I give them a
hug or a
K

42 | P a g e
0 meeting
with a
friend..
great to
see
you!"
hear your
voice!"
handshake
totals visual
1
5
auditory
1
kinesthetic/p
hysical
1
4
The total scores for each style indicate your relative preferred learning style or styles.
There are no right or wrong answers. Some people have very strong preferences,
even to the extent that they have little or no preference in one or two of the styles.
Other people have more evenly balanced preferences, with no particularly strong
style. The point is simply to try to understand as much as you can about yourself and
your strengths (your preferred style or styles), and then make best use of learning
methods which suit your strengths (your preferred style or styles).
Visual learning style involves the use of seen or observed things, including pictures,
diagrams, demonstrations, displays, handouts, films, flip-chart, etc.
Auditory learning style involves the transfer of information through listening: to the
spoken word, of self or others, of sounds and noises.
Kinesthetic learning involves physical experience - touching, feeling, holding, doing,
and practical hands-on experiences.
Appendix 4: Role of Area Manager
Skills Explanation
Planning Area manager must have planning and organising skills to
achieve organisational goals. For example: plan for the
business and opportunity and over the weakness as well as
plan for workload, stress and possibility.
Communication Area manager should have excellent writing, speaking and
listening skills. Most managers are wonderful in writing and
reading but not listening.

43 | P a g e
Decision
making and
problem solving
To move organisation’s plan forward area manager must have
decision making skills and solve the arising problem quickly
and accordingly. Another organisation might take the
opportunity of one’s weakness if manager cannot act quickly
and solve the problems.
Delegation Workload might be a big problem for stress. Sometimes
managers fall behind because of workload. Area manager must
have delegation skills to get best results out from store
managers.
Conducting
interviews
Area manager’s duty is to hire managers and assistant
managers to serve the organisation. This is big investment for
business. Area manager have to make sure he or she hires the
right person to help him or her week in, week out to achieve
organisational goals.
Motivation To achieve organisational goals area manager have to
motivate the teams around him. Without motivated teams he
cannot achieve his target and it will cost company a lot. And if
he could do it without spending any money it would be a great
success.
Risk
Management
Area manager’s one important skill is to manage risk and bring
company to a profitable organisation. For example: recession
or falling of sales target. Area manager should have a plan to
overcome this risk or survive during recession.
Leadership Leadership is a critical management skills. Bring change if
organisation required and stand above everyone, be respectful
and quality to motivate teams to achieve common goals. For an
example: Carlos Ghosn (Appendix 3.7 Learning Journal 7 )

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