MGT501 Business Environment Part A: Initial Statement of Intent Student Name: Business

Subject code: MGT501 Business Environment
Part A: Initial Statement of Intent
Student Name:
Student Id:

Business
According to me, business is a type of activity in which consumers are provided with services
or goods for an objective of earning more profit. Business involves mutual profit to sellers
and the consumer as well(Babińska&Witczak, 2016). Business can be B2B (Business to
Business) and B2C (Business to Consumer). B2B is applicable to organizations that want to
sell their services or goods to other organizations (businesses) not directly to the
customer(Saha&aman, 2014). On the other side, B2C is applicable to organizations that
really wish to sell their services/goods directly to customers(HANS, 2018).
Reasons for choosing this course
I chose this course to understand the basic components of the business environment such as
global, technological, competitive, social, demographic, legal, economic and political(HANS,
2018).I decided to opt this course because it helps to understand how different conditions and
events affect firms in the business environment (Saha&aman, 2014)t.This course helps
students to make aware of unique set of opportunities and challenges for business.I chose this
course because I have deep interest in the field of business. My learnings from this course
would help me to become a successful business owner.Hence, it can be said that I have
chosen this course in order to meet my career goals and dreams.
Interest in this area
I really want to start my own business after taking more experience in the field of business.
There is no doubt that being a business owner (your own boss) is not an easy task but
becoming a famous and successful entrepreneur demands a strong execution strategy,
innovation, and creativity(Eruemegbe, 2015). I have deep interest in improving my
entrepreneurship and creativity skills so that I would meet my future business dreams
successfully. I have past experience of work in a café where I learned how marketing
strategies, quality of customer services, new entrance and product differentiation factors
affect business growth. By analyzing and reviewing the business management strategies of
managers, I came to know how technological advancements and pricing strategies used by
competitors affect the customer segment of my café.
How my experience prepared me for this course?