Initial Statement of Intent

Running Head: GUNEET SINGH STUDENT ID 00275931T 0
Initial Statement of Intent
(Student details :)
3/22/2019

Guneet Singh Student Id 00275931T 1
Initial Statement of Intent
With the help of this reflective journal, I will develop as well as apply a conceptual
understanding of reflective practice within a business context. Besides, the reflective writing
will critically evaluate stakeholder’s viewpoints and economic principles within the global
business environments. To me, self-reflection is a measure to assess you as well as the way
one work and study. As per my opinion, reflective writing helps while developing practical
skills further and inter-linking that practice with the theory. Thus, this writing is all about
analysing what I am going to do and why I am doing it while applying my past teachings and
relevant experiences which I have learned in the past.
Here, my focus is over reflecting on the key motivation for undertaking chosen
postgraduate studies along with the expectations about the course and succeeding career path
(Heyrup & Bente, 2009). In this context, my basic understanding about Business
Environment and Economic Principles made me realise that I should study this business
environment course at Torrens University (TU).
My definition of business suggests that business is an association or resourceful entity
involved in industrial, commercial, or professional activities. It means that, a business starts
with a business idea and a name as well. In addition, my knowledge about business
environment and economic principles suggests that nature of the business determine whether
implementing the business idea into a real business will be feasible or not. Furthermore, I
also think that a business idea can be successful only when the business idea can bring value
to its consumers. In the context of economic principles within any business environment,
financial rewards which result from successful business are critically important for
entrepreneurs to do business in an effective manner. As per my knowledge, ley economic
principle of any business contains key factors which can motivate entrepreneurs to work hard
along with taking tremendous risks. Moreover, my opinion about assessing any business
environment suggests that business can be assessed and analysed with the help of key factors
like social, financial, personal, longevity, customer satisfaction as well as employee
satisfaction. According to me, business can be understood as the planned efforts of an
enterprise for supplying consumers with products and services in order to gain a profit. As