MBA Capstone Portfolio: Management Competencies and Learning Outcomes
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This portfolio outlines the management competencies acquired in the MBA course through various instructional means such as lectures, secondary research and group discussion. It covers selected 12 learning activities from various business management components covered within the 11 weeks of learning.
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PORTFOLIO1 MBA CAPSTONE PORTFOLIO Name: Class: Professor:
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PORTFOLIO2 Table of Contents Introduction...............................................................................................................................................3 Part A: Activities Completed....................................................................................................................3 Part B: Self Reflection Commentary and Criticism on Activities and Learning Outcome..................7 Part C: Self Reflection Commentary and Criticism on Learning Outcome from Teamwork...........12 Bibliography............................................................................................................................................16
PORTFOLIO3 Introduction This portfolio outlines that various management competencies that I have acquired in this course, through various instructional means such as lectures, secondary research and group discussion. The portfolio covers selected 12 learning activities from various business management component covered within the 11 weeks of learning. Part A: Activities Completed Week 1 In this week, we established that the integration of theoretical skills and applied skills is required in order to develop practical skills. This however, is only possible if one is able to digest new information and use in deciding whether they will modify their existing assumptions or belief, which is the essence of reflective skills. A combination of these skills results into a strategic mindset, which may lend a business some competitive advantage as one is able to view, assess and develop a future for their businesses. (Inamdar & Ronald, 2013) Week 2 In this week, we looked at competitive advantage through using business knowledge. We underscored the ability for one to recall past business knowledge they have acquired and solve problems using various theoretical lenses as being integral in creating a business’ competitive advantage (Kachra & Schneitz, 2008). Equally, important is the ability to use quantitative and qualitative information in solving problem and in the process integrating both hard and soft skills. Week 3
PORTFOLIO4 In this week, we examined how firms can gain competitive advantages through specific competencies such as strategic marketing and strategic operations. I learnt that strategic marketing is a comprehensive activity that provides business with competitive advantage through addressing components such as positioning, differentiation, promotion, social media, placement, branding, product proposition and the use of social media. A combination of these elements is integral in ensuring that a product is competitive at the market place (Nijssen & Frambach, 2013). Week 4 In this week, we examined how firms can develop their competitive advantage through growth and innovation. I learnt that organizational growth comes in various forms such as structurally through acquisition and people; through profitability; through increasing the market share and through the innovation of new products and services. I also learnt that employees play an integral role in organizational innovation given that they interact with the customers in some aspects and understand the problems that they are experiencing. Through working in teams, employees can thus brainstorm innovative ideas that can bring the company some competitive advantage (Back, Enkel, & Krogh, 2007). Week 5 In this week, we focused on the use of business intelligence to achieve competitive advantage for our business organizations. This entailed a study of business models and tools, such as business analytics and business models. I learnt that business analytics are involves a procedural exploration of the data about an organization through collection and analysis. I also learnt that business models are plans geared at achieving successful business operations,
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PORTFOLIO5 identification of sources of revenue, target markets and viable products. Given the current technological advancement, business data is a critical tool for helping business to make decisions that enhance their competitiveness at the marketplace (Kane, Palmer, Phillips & Kiron, 2015). Week 6 In this week, we had a guest speaker, Mr. Brad Hosking, who is the Corporate Director of Common Equity Housing Limited and gave a lecture on cooperative and mutual enterprises. I learnt that there are three forms of member owned businesses in Australia, which include individual ownership such as sole traders and partnerships. The company ownership such as listed, unlisted and private companies and, member ownership such as cooperatives and mutual. I also learnt that the Common Equity Housing Limited is an Australian public service mutual providing affordable housing to more than 2000 households, which accounts to more than 5000 people. Week 7 In this week, we examined the use of research in addressing management problems. I was reminded on the primary research methods that can be used in resolving management problems such as interviews, surveys and focus group discussions. There are also secondary research methods that are helpful in resolving management problems such as the review of case studies conducted on similar problems that the organization is facing (Bryman & Bell, 2015). More importantly, I learned that understanding the management problem is critical in determining the effective research approach that will be adopted in finding the solution to the problem. Week 8
PORTFOLIO6 In this week, we examined change management in organizations. I learnt that there are numerous factors, which lead to resistance to change. These factors include the formulation of strategies that are not aligned to the objectives of the organization (Jung, 2011). Some organizations also come up with expectations that are quite unrealistic and unfair to the employees (Marwah, 2012). Poor leadership is also another factor that undermine change initiatives, while also employee resist change because they fear it could take away their jobs or rob them of their autonomy (Miller & Proctor, 2016; Aken, Berends, & Bij, 2012). More importantly, change fails because it is poorly communicated and once employees do not understand its rationale they fear it and resist it. Week 9 In this week, we examined the relevance of data visualization in making sound business decisions. We contrasted the traditional collection and presentation of data with the new models of data presentation, which have been enhanced by various technological tools. I learnt that data visualization is helpful in understanding the significance of data and presenting it for a broad scope of use. More specifically, the use of infographics enhances cognition through improving the ability of the human visualization system (Stippich & Petrich, 2016). Therefore, helping manager to establish trends and patterns in their respective markets or industries (Simon, 2014). I learnt that for proper appreciation of organizational data, infographics are an invaluable tool for current managers. Week 10 In this week, we looked at the measurement of employee performance. We considered the business metrics that should be used in measuring performance and I learnt that the metrics should be developed through steps that include the definition of the company’s objectives, the
PORTFOLIO7 development of the theory that explains the drivers of the objectives. The identification of specific employee activities and the evaluation of the results (Dávila, Epstein, & Manzoni, 2014). We also looked at the key performance indicators, which serve as the organizational milestones for determining the success of employees in attaining the targets that the management allotted to them. I learnt that performance management is a proactive way of engaging employees to help the company realize its objectives. Week 11 In this week, we looked at employability trends. We noted that some of these trends include design thinking, flexible working patterns, the appreciation of people analytics by companies, team collaboration instead of competition, the rise of remote workers, the prioritization of employee engagement and training not just as means for onboarding (Pirzada & Khan, 2013; Williams, 2004). As I near the end of my MBA, I feel sure that I am competent enough to take up the opportunities that the industry has to offer. Part B: Self Reflection Commentary and Criticism on Activities and Learning Outcome Week 1 In our group work, we discussed whether business school curricula have failed to addressed the various aspects of changing business world. We agreed that the school curricula had not failed to develop effective business leaders as it provided them with the theoretical base they needed to excel in business world. However, we failed to take into account the fact that business school should do more than provide theoretical knowledge. Catano (2010) recommends
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PORTFOLIO8 that anyone should endeavor to provide practical, applied and reflective skills as well through collaborating with industry. Week 2 We watched a video clip regarding Fair work Commission, whereby there were penalty cuts on the rates in the industries, which affected wages of about 700 000 workers. I learnt that there are numerous factors, both internal and external that affects business. As a manager, one needs to be conversant with the theoretical models such as the marketing mix, PESTEL analysis, Agency theory, Porter’s five forces, BCG Portfolio matrix and many more (Ragsdale, 2016). It is through having such knowledge that one can appreciate their external and internal environment, and thereby gain a competitive advantage in the market. Week 3 In our group activity, we looked at how we could create competitive advantage in our respective industries, considering the future strategic marketing and operation trends. The discussion taught me the competitive advantage is achieved from a proper mix of the component. Given the variation in the market, it becomes essential that businesses embrace these competencies in order to assure themselves competitive advantage (Fryer, 2009).I intend to consider this factor in my managerial role. Week 4 Our group work tasks was to imagine we were working for a firm that struggled in terms of cash flow and revenue, which implied that there was no money to replicate the largesse that the Top 50 employers provide. We saw that some of the HR approaches that could be used to attract, engage and retain employees without incurring additional costs include providing the
PORTFOLIO9 employees with work-life balance in terms of diversity, job security, reasonable workloads and resources for undertaking tasks. The other strategy includes involving employees as individuals or teams and challenging them to come up with innovative product solutions, upon which they are acknowledged and rewarded when the products pay off. Week 5 Our group activity involved how to use business intelligence in making decisions as a manager. I learnt that the data that businesses collect on a day-to-day basis is a critical business asset as their proper analysis can help a manager to make forecasts that can translate into profitability. I learnt that I needed to scrutinize the sales and marketing information, for instance, to understand the trends in the market, the segmentations in our market and some of the gaps that our company could fill with new products. Week 6 In our group work, we assumed that we are a mobile service provider, and our workplace career role was sales and marketing. We thereafter took into account the possible future employment trends of 2020. In our discussion, we concurred that by 2020, most we will need to employ people aged less than 45 years in our department; most of people in this age group have a bachelor’s degree and we will therefore need to look for people with the highest qualification and with some considerable measure of experience. I found this quite instructive given that there are more people graduating every day, and the challenge will be to find the right person for the job. Week 7
PORTFOLIO10 Our group activity involved a discussion on the differences between data management, data sources and the significance of research from the perspective of a marketing manager in a high moving consumable firm. We saw that data management involves the collection, analysis, archiving and use of organization data to make informed marketing decisions. We also agreed that either data sources could be primary such as employees and customers; or they could be secondary such as journals, magazines, newspapers and the Internet. We concurred that research is essential for helping organizations understand their market position, appreciate the needs, wants of their markets, and predict future trends, all of which enhance their competitive advantage. Week 8 In our group, we debated on what is important in the management of change between people and process. We noted that management spearheads the process of change. Besides, it should involve orienting people to embrace change. We concurred that once the process is gradual and supported by sufficient information and resources required change invariably succeeds. We also noted that people are integral in embracing the process of change; if they resist it, the change will not succeed. As a manager, I learnt that people and process are important considerations in effecting change in organization; people should be engaged in developing the process. In another group, we also looked at the different types of change such as change in leadership structure, change in the job roles and change in the organizational processes. We saw that these changes require different forms of leadership. For instance, change in leaders may require participation of people or collaboration for it to be successful; change in job roles will need education, direction and leadership whereas the change in process will require
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PORTFOLIO11 collaboration. I learnt that different management or leadership styles are essential for approaches different forms of change. Week 9 In our group discussion, we looked at three types of reports: marketing plans, sales reports and progress reports. The ideal audience for marketing plans is the marketing department and the top management team. They have the responsibility to increase the competitive advantage of their organization. The audience for sales reports is the sales and marketing team. Their main purpose is to understand the company’s sales trends. Furthermore, the top management forms a better audience for progress reports that seek to understand how various components of the organizations are working out. We agreed that with infographics these reports could be further enhanced for easier interpretation and comprehension. Week 10 In our group work, we were assigned the role of ensuring that that senior management is committed to change as one of the way of setting new Key Performance Indicators in our organization. In order for this to succeed, we saw that communication is key: once we can help the senior managers to understand how the new KPI is going to translate into tangible results such as productivity and profitability it will then be possible for them to buy the idea. I learnt that this is an essential initial step in ensuring the successful implementation of new KPIs. Week 11 In our group, we were allocated the rise of gig and remote workers as the employability trends that we needed to focus on. We read the report section on this particular trend and then used our smartphones to research more about it. We found that with the adoption of technology
PORTFOLIO12 in most workplaces, remote working has become a preferable mode especially for millennials. Some companies to achieve work-life balance for their employees are also using this trend. I learnt that remote working should not be considered as a negative trend largely because of some of its economic benefits that it brings to the company. Besides, it does not lessen the burden of human resource but helps companies achieve more with less input. Part C: Self Reflection Commentary and Criticism on Learning Outcome from Teamwork Week 1 In ascertaining why business curriculum has failed, we examined various examples of business failures and related them to the lack of theoretical, practical, applied and reflective skills. There emerged an apparent gap, which is not entirely the fault of business schools but also the lack of industry to collaborate with these schools. I took part as a team member and was one of those who argued that the failure of business school curricula is a collective responsibility of both academia and industry. Week 2 I was assigned the role of a union group member and together with other union members we identified job satisfaction, employee engagement and competitive advantage as the as the theoretical lenses we used to justify the cuts. We settled on these three concepts because they deal with employee motivation, acknowledging the fact that cutting the penalty would improve on their wages, thus boost their spending power. This may in turn affect their morale. My role as a lobbyist was to advocate for the welfare of the employees.
PORTFOLIO13 Week 3 In this group, I acted as the chairperson, and I sought the views of members in my group based on the industries that they work in. I did this so that I could help them integrate the knowledge acquired in this unit in their daily work, which I considered pertinent. However, I would consider creating a hypothetical industries next time when assigned member’s managerial position. I this that this will broaden my thinking beyond the current stations. Week 4 I acted as a group member and one of the right conclusions we arrived at was that organizations do not need to have much money to be innovative. They need to invest in their employees who will in turn help them solve the problems of their customers. I think I could have become an effective team leader through splitting the group into two with one side opposing while the other proposing; this could have given us a more balanced outcome. Week 5 I was a member in our group. One of the fruitful discussions we had was the type of data that we need to collect as business entities that would inform our competitive advantage. We did not however, tend to focus more on information mining as a business investment, which should be the case considering its relevance in business intelligence. Week 6 I was a group member. One of the right things we did was assign everyone the duty to research on the possible trend for our specific career roles, which we shared during the discussion. We however, missed conducting primary research through which we could have
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PORTFOLIO14 talked to millennials who are currently in universities and gotten their perspectives on what they expect of their job market. This could have balanced out our discussion. Week 7 I was a member in my group. We were all assigned tasks to accomplish and I was required to research on the importance of research to organizations and particularly the marketing department. While this was helpful to ease the tasks for the group, it denied us the opportunities of exploring on our own the other tasks that the group was supposed to tackle, which would have broadened our knowledge. Week 8 In our group, I was on the side of the debate that argued for people as the most important elements in change management. The creation of the two sides of the debate injected objectivity in our discussions, helping us to come up with comprehensive findings. In order for better understanding of the other point of view, I would consider we exchange our point of views in case wehold a second debate on the subject. Week 9 I was the team leader of our groups. I assigned members the type of a report they were to use modern technology to make some improvements. This gave each of us a role to play in the discussion, though there was need for us to explore the many other reports that we did not choose for our discussion. Week 10
PORTFOLIO15 I was the team leader of our group and one positive thing I did was ensure that everyone gave their input. We however, focused more on communication; we should have also explored on other possible means of bringing senior managers. This would have been possible with further research on the subject. Week 11 I was a member in our group and was assigned the duty of illustrating the chart through which we interpreted the trend of remote working by 2020, which we presented to our class. The interactions of our groups were quite comprehensive, given that all of us found different information about the trend through the searches on our smartphones. The research would however be more in-depth if we had adopted desktop research, which yield comprehensive searches as compared to smartphones.
PORTFOLIO16 Bibliography Aken, J. E., Berends, H., & Bij, H. v. (2012)Problem solving in organizations: a methodological handbook for business and management students.Cambridge: Cambridge University Press. Back, A., Enkel, E., & Krogh, G. V. (2007)Knowledge Networks for Business Growth.Berlin: Springer. Bryman, A., & Bell, E. (2015)Business Research Methods.New York: Oxford University Press. Catano, V. M. (2010)Recruitment and Selection in Canada.Toronto: Nelson Education. Collis, J. (2013)Business Research: A Practical Guide for Undergraduate and Postgraduate Students.London: Pan Macmillan. Dávila, A., Epstein, M. J., & Manzoni, J. F. (2014)Performance Measurement and Management Control: Behavioral Implications and Human Actions.Bingley, U.K: Emerald. Fryer, B. (2009)Are B - Schools to Blame.Harvard Business Review. Inamdar, S. N., & Ronald, M. (2013) The MBA Capstone Course: Building Theoretical, Practical, Applied and Reflective Skills.Journal of Management Education, 37(6), 747 - 770. Jung, C. (2011)The Importance of Change Management in Organisations.GREEN Verlag. Kachra, A., & Schneitz, K. (2008) The Capstone Strategy Course: What Might Real Integration Look Like?Journal of Management Education, 32(4), 476 - 508. Kane, G. C., Palmer, D., Phillips, A. N., & Kiron, D. (2015) Is Your Business Ready for a Digital Future.MITSloan Management Review, 54(4), 36 - 43. Marwah, G. (2012)Change management: exploring the understanding of an organization's capacity to change in.GRIN Verlag. Miller, D., & Proctor, A. (2016)Enterprise change management: how to prepare your organization for continuous change.Philadelphia, PA: Kogan Page Limited. Nijssen, E. J., & Frambach, R. T. (2013)Creating customer value through strategic marketing planning: a management approach.Boston: Kluwer Academic Publishers. Pirzada, K., & Khan, F. N. (2013) Measuring Relationship between Digital Skills and Employability.European Journal of Business and Management, 5(24), 124 - 133. Ragsdale, C. (2016)Spreadsheet Modeling & Decision Analysis.New York: Cengage Learning. Simon, P. (2014) The Visual Organization: Data Visualization, Big Data and the Quest for Better Decision.Harvard Business Review.
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PORTFOLIO17 Stippich, W., & Petrich, M. (2016)Corporate Governor.Grant Thornton. Williams, R. S. (2004)Managing Employee Performance: Design and Implementation in Organizations.London: Thomson Learning.