Business Environment - Assignment PDF

EXECUTIVE SUMMARY
The aim of this assessment is to discuss and debate how many people know about the
business environment and how it can be applied in the future.
Throughout this statement, I will explore how I define business, why I choose this course,
what experiences I have had, and how these episodes have prepared me for my education
within a master's degree.
I will also try to nail down some key points on how I will manage and control my skills and
knowledge, and most importantly, how I will use the course's outcomes to achieve my short-
and long-term objectives.
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TABLE OF CONTENT
EXECUTIVE SUMMARY 2
Self-reflection 3
How do you define business? 4
Why did you choose this course? 4
What kind of past experience (or interest) do you have in this area? 5
How has your experience (academic, work, etc.) prepared you for this
course? 5
How do you ensure the required outcomes of your course are met? 5
What can you do to manage and monitor your studies to a successful
conclusion? 6
As you think about the future, how might you apply your studies in
later life? 6
What kind of goals would you like to set for yourself with regards to
this course? 6
REFERENCES 7
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● Self-reflection
A deep self-reflection of these questions is an exercise that I like to practice. I enjoyed doing
meditation during the week, which is one form of self-reflection. It provides me lot of mental
and personal benefits in thinking and evaluating myself.
“ Self-reflection is a humbling process. It’s essential to find out why you think, say, and do
certain things – then better yourself.” Sonya Teclai
● How do you define business?
A business is basically a commercial operation that includes selling products or services in
return for a benefit. It may be an occupation, profession, or trade. I would like to highlight
that profits in the industry are not only about money. It can be any sort of profit that is known
by the company (entity) involved in the business (activity).
The business environment is usually the result of external and internal factors that influence
the entire management process. These two factors can affect each other and conversely work
together to influence the business.
Furthermore, even some factors can be managed, certain external variables are uncontrollable
commonly named external constraints, such as:
● Social factors: Generally, refers to society and social relations that may influence
the business.
● Political factors: Control by the government and certain political conditions that
might influence the business.
● Technological factors: Usually technological innovation may positively or
negatively affect the business.
● Macroeconomic factors: Can affect the economy such as unemployment rates,
interest rates, recessions, …
● Microeconomic factors: Have an impact on business such as supply, demand,
market size, ...
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● Why did you choose this course?
This course is suitable to me because I wish to learn more about the current and modern
business world, and I also have a keen interest in management.
The long term objective is to be running my father's company one day, before starting my
own one. It is essential that I am aware of new methods, tools, and techniques that I can
master and integrate in order to enhance and upgrade this business continuously.
To be completely transparent, this choice was more of personal interest because I had always
dreamt to assist my father in running his company.
● What kind of past experience (or interest) do you have in this area?
I have always dreamt of starting my own business in one of my long-term projects. This is
partial because I grew up with an entrepreneur, who decided to start from scratch in our
garage, and on the long term run he successfully managed his business.
I watched my father work really hard, as he wanted to show and prove his place in the
industrial market. This willingness was really inspiring to me and
He thought this way up the corporate ladder and he taught me a lot about how to be efficient
in the workplace. And I was always interested in business activities especially during my
bachelor's degree in business in France.
● How has your experience (academic, work, etc.) prepared you for this
course?
I came to Australia right after I finished a masters’ degree in international business, because I
always knew that something was missing in my life. Compared to my other classmates, I
always wanted to achieve more by studying more. In this scenario, attending classes is crucial
not because I must do it, but because classes provide new knowledge, a new way of viewing
the business, an opportunity as well to develop my network, and potentially to find a job in an
Australian company. In terms of skills, I hope to broaden my knowledge in strategic
management.
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● How do you ensure the required outcomes of your course are met?
As I advised at the beginning of this statement, one of my objectives is to focus myself on
conceptual reflective practices in business. From this perspective, I will try as much as I can
to apply all knowledge that I have learned in a Business environment with the help of my
lecturer.
Besides, there is no doubt that I chose this university due to the professional and experienced
teaching, so all competencies and experiences that I can gain will be profitable for my career.
● What can you do to manage and monitor your studies to a successful
conclusion?
First, I will make all efforts to acquire every concept, knowledge, and skill applicable in my
future job and try to put them into practice. My main aim is to be successful in my subjects
by studying and reading more. I decided to quit one of my jobs to focus my mind on lessons
and research.
Second, due to a practice of self-reflection, I am aware that I want to improve myself every
day, which means trying to assess my weaknesses. Then, it is essential to work on them and
improve the latter and change them into my strengths.
Finally, I deeply think that my approach will help me to successfully achieve this class of
Business Environment.
● As you think about the future, how might you apply your studies in
later life?
The class of Business Environment teaches me how to evaluate and observe the fundamentals
of international business concepts. In the end, the benefit appealing to me will be having a
better and greater understanding of how to handle my future projects.
I believe that the competencies acquired during team project tasks will improve my way of
how to communicate with my team members under pressure.
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Furthermore, as I specified, I have this keen interest to run my fathers’ business, but I need to
learn more about our current business world. In this scenario, I would like to apply for a job
for gaining knowledge and experience, also, go deeply into how managers lead their teams
within a project? What sort of challenges have the managers faced?
● What kind of goals would you like to set for yourself with regards to
this course?
The first task regarding my short-term objectives is to learn and acquire new knowledge but
also refresh on the previous ones. I obviously hope to obtain good grades to show myself and
my family that I make the right choice by following my dream.
In the long-term run, this course will bring me the requisite skills for working in the business
environment and facing challenges more diligently. My objective, as previously mentioned, is
to find a job in the management field and benefit from international experience.
REFERENCES
Khan, E., & Quaddus, M. (2015). Examining the influence of business environment on
socio-economic performance of informal microentreprises : Content analysis and partial least
square approach. Journal of Sociology and Social Policy, 35(¾), 273-288.
https://www-proquest-com.ezproxy.laureate.net.au/docview/1661579646?accountid=176
901
Halloran, L. (2016). The Value of Self-reflection. The Journal for Nurse Practioners, 12(10),
437-438.
https://www-proquest-com.ezproxy.laureate.net.au/docview/1661579646?accountid=176
901
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Porter, J. (2017). Why you should make time for Self-Reflection (Even if you hate doing it).
https://hbr.org/2017/03/why-you-should-make-time-for-self-reflection-even-if-you-hate-
doing-it
Prajogo, D. (2016). The strategic fit between innovation strategies and business environment
in delivering business performance. International Journal of Production Economics, 171(2),
241-249. https://doi.org/10.1016/j.ijpe.2015.07.037
Shujun, D., Chunxin, J., Zhenyu, W., Wenlong, Y. (2016). Environmental Management Under
Subnational Institutional ConStraints. Journal of Business Ethics, 134(4), 631-648.
https://www-proquest-com.ezproxy.laureate.net.au/docview/1783245416?accountid=176
901
Wasleleski, D. (2019). Business Ethic (1st ed.). Wagon Lane.
https://ebookcentral-proquest-com.ezproxy.laureate.net.au/lib/think/detail.action?docID
=5780273
Wayne, E. (2020). A Lesson on the Importance of Self-Reflection in Business.
https://www.forbes.com/sites/forbesbusinessdevelopmentcouncil/2020/03/06/a-lesson-on-
the-importance-of-self-reflection-in-business/?sh=93e96eb58d03
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