The 5Rs framework
write a 500 words essay using the 5Rs framework described in the link below:
https://canvas.sydney.edu.au/courses/46716/pages/5-dot-2-how-to-apply-reflective-learning-in-a-finance-context The structure below should be followed (create headings in your essay as per below; the words ‘Step #’ should be omitted):
Step 1: Reporting
• Discuss one specific situation in which you believe you contributed to the group work for the pitch presentation. Else, explain a situation in which you could have contributed but rather preferred to stay silent.
Step 2: Responding
• Discuss whether you decided to be vocal (intervene) or remain silent (not intervene) in relation to the situation identified in the previous step. What feelings triggered your reaction?
Step 3: Relating
• Discuss the connection between the situation reported (and your response to it) to any previous experience you had in the past (or any significant factors that made you behave in the same way across similar situations).
Step 4: Reasoning
• Explain why you chose to deal with the situation reported the way you did. Why was it important for you to act/behave that way? Why was the situation itself important?
Step 5: Reconstructing
• If in the future you were to face the same situation (or a similar one) that you reported in step 1, would you act in the same way? Why? Did you learn anything working as part of a team for the pitch presentation that perhaps would change your behaviour in the future? Was there anything that you have done that made the group work more efficiently that you would do again in the future?
Sample Solution
For nearly 100 years retail merchandisers have used the five R’s framework or a variation to design, select, and display products. The concept is valid for eCommerce shops today. Mazur’s descriptions have evolved into what some call the five R’s of retailing: The right people; The right product; The right quantity; The right price; and The right time. The phrase “provide for the consumer” became “the right people.” “The right style and quality” are “the right product.” “Proper quantities” became “the right quantity.” “The right price” and “the right time” are direct quotes. During the group work for the pitch presentation, I believe that I played an instrumental role in helping our team to be successful. In particular, I was able to help my teammates brainstorm ideas and organize their thoughts more effectively. For instance, when discussing potential strategies for how we should approach different aspects of business plans, I encouraged everyone to share their unique perspectives without fear of judgement.
