Business Environment

This document discusses the definition of business, the importance of studying business, and how academic and work experience can prepare individuals for a business course. It also explores ways to ensure successful outcomes and how to apply business studies in later life. The document includes references to support the information provided.

Running head: BUSINESS ENVIRONMENT 1
Business environment
Name:
Institution:

BUSINESS ENVIRONMENT 2
Table of Contents
How do you define Business?....................................................................................................2
Why did you choose this course?...............................................................................................2
What kind of experience (or interest) do you have in this area?................................................2
How has your experience (academic, work, etc.) prepared you for this course?.......................2
How do you ensure the required outcomes of your course are met?.........................................3
What can you do to manage and monitor your studies to a successful conclusion?..................4
As you think about the future, how might you apply your studies in later life?........................4
What kind of goals would you like to set for yourself with regards to this course?..................4
References..................................................................................................................................6

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How do you define Business?
Business is an economic process where goods and services are exchanged either for money or
other goods at a profit. At certain times in life every one of us will engage in the world of
business, thus it is important to prepare to engage in business activity with confidence and
competence through understanding how the art of trade works and its impact to the society. A
business can be privately owned, non-profit or publicly owned. My passion for business practice
and management has compelled me to seek enrolment for higher business studies in the
prestigious Torrens University (Watty et al., 2016). It has been my ambition to attain the highest
possible knowledge and skill in business, and I felt I needed to go beyond a bachelor degree to
be more competent in business practice and administration.
Why did you choose this course?
Currently, the business is among the most productive human activities, and to be successful we
need to have business and management skill (Macklin & Mathison 2018). It is in that sense that
I undertook to pursue advanced studies in trade at Torrens to sharpen my understanding of
business and its organization in a quest to achieve my ambitions. I believe by the end of my
studies I will go out of Torrens University more equipped to realize efficiency in the business
world.
What kind of experience (or interest) do you have in this area?
I have graduated recently in business management, and I feel that I need to gain more knowledge
to excel in the current highly competitive business environment. Postgraduate studies will boost
my personal development through discipline and time management (Taylor-Bianco, Tucker,

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Rosado & Barnett, 2017). I will also add more knowledge regarding improved financial
performance, research on competitors and redesigning business processes to be successful in the
business career. I have had an interest in business practice and improvement since childhood
because I was born in a business family. Firstly I intended to run a business enterprise and
secondly I had the desire to assist people business to acquire success and prosperity (Kuechler &
Stedham 2018). The urge to help others who have no business education originated from the
observation of my father's stagnated business practice. I examined the method and realized it
lacked informed relevant successful business information and management which can be
achieved through studies. The experience of gaps in the society will highly contribute in the
process of setting targets in achieving the best answers and remedies necessary to fill in the gaps.
How has your experience (academic, work, etc.) prepared you for this course?
To achieve defined objectives a business needs organization and coordination of its activities.
The art of management teaches us how to create corporate policy and organization. With the
required skill attained in my studies in trade, I can plan control and direct a company's resources
to realize set goals (Karlusch, Sachsenhofer & Reinsberger, 2018). After learning business
operations at the undergraduate level, it is now time to develop the skill at the postgraduate level
by gaining targeted skills in customer care, markets, finance, operations, strategy, business
policy, communications and IT. With the basics in analytical and critical thinking, problem-
solving and decision making learning more regarding them at the masters level will be work in
progress towards achieving set objectives in business running and mentoring.
How do you ensure the required outcomes of your course are met?

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In ensuring that the outcomes of my studies are met, I will apply business theories and concepts
to practical problems. The communication tool is also essential in business running to effectively
convey messages regarding ideas, information and strategies in a business organization (Sauser
& Sims 2018). In the current business environment, we cannot ignore the importance of applying
technology in the business environment in terms of successful business decision-making,
communication, trade operations, and customer care. In the ever competitive world innovation
and creativity is needed in multiple approaches to generate alternative organizational changes
and strategies when required to achieve the business share of market. Teamwork practice is the
backbone in the implementation of the business policy and with the leadership knowledge
acquired I aspire to exploit it to achieve organizational effectiveness and successful team
projects.
What can you do to manage and monitor your studies to a successful conclusion?
For successful management of the studies I have acquired in realizing appropriate conclusion, it
is vital to put the business theories and concepts in the best possible practice towards achieving
set goals (Ferguson, Makarem & Jones, 2016). Embracing teamwork and good leadership with
effective create a seamless organizational structure necessary for the effective implementation of
the company policies and ultimate achievement of the objectives. The use of information
technology in an organized manner will help in information gathering storage and dissemination
in achieving the optimum benefits of the business organization. On the community level,
corporate citizenship is essential, and the participation in community-based projects and
activities that change the living standards of the society will reflect the ethical side of
corporations.

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As you think about the future, how might you apply your studies in later life?
Equipped with a postgraduate business skill makes me feel prepared to venture into business
from any angle, might it be practice or administration. I have acquired a wide range of
knowledge regarding business management at the undergraduate level (Martin & Strawser
2017). For example, concepts from multiple business disciplines, problem-solving,
organizational communication, business technology, data understanding, teamwork, personal
code o values and ethics, and innovation, making me ripe for the business community.
What kind of goals would you like to set for yourself with regards to this course?
Business practice is the currently the most dominant humanity activity in the creation of job
opportunities, and people engage in production, distribution, and sale of goods and services to
earn a profit (Rubens, Schoenfeld, Schaffer & Leah, 2018). My main objectives in pursuing this
advanced course in business are centered on entrepreneurship and public calling. Therefore I
have set goals of achieving success in personal business management and societal business
mentoring.

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References
Ferguson, J. L., Makarem, S. C., & Jones, R. E. (2016). Using a class blog for student
experiential learning reflection in business courses. Journal of Education for Business,
91(1), 1-10.
Karlusch, A., Sachsenhofer, W., & Reinsberger, K. (2018). Educating for the development of
sustainable business models: Designing and delivering a course to foster creativity.
Journal of Cleaner Production, 179, 169-179.
Kuechler, W., & Stedham, Y. (2018). Management education and transformational learning: The
integration of mindfulness in an MBA course. Journal of Management Education, 42(1),
8-33.
Macklin, R., & Mathison, K. (2018). Embedding ethics: Dialogic partnerships and
communitarian business ethics. Journal of Business Ethics, 153(1), 133-145.
Martin, J. M., & Strawser, M. G. (2017). Transforming the capstone: Transformative learning as
a pedagogical framework and vehicle for ethical reflection in the capstone course. The Journal of
Faculty Development, 31(1), 25-34.

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Rubens, A., Schoenfeld, G. A., Schaffer, B. S., & Leah, J. S. (2018). Self-awareness and
leadership: Developing an individual strategic professional development plan in an MBA
leadership course. The International Journal of Management Education, 16(1), 1-13.
Sauser Jr, W. I., & Sims, R. R. (2018). Showing business students how to contribute to
organizational cultures grounded in moral character. In Business Education and Ethics:
Concepts, Methodologies, Tools, and Applications (pp. 485-507). IGI Global.
Taylor-Bianco, A., Tucker, M., Rosado Feger, A., & Barnett, T. (2017). Teaching" Business"
Ethics: Affecting Change through Self-Regulation and Reflection. Journal of
Instructional Pedagogies, 19.
Watty, K., McKay, J., Ngo, L., Holt, D., McGuigan, N., Leitch, S., & Kavanagh, M. (2016).
Eportfolios in business education. Sydney: Chartered Accountants Australia and New
Zealand.