MGT 501 Business Environment

MGT 501 Business Environment
Name
(Affiliation Institutions)

I can define a business as an ability of an organization or individual to benefit from the
exchange of goods and services for money. I understand business environment as a collection of
all external and internal factors such as technology, government, supply and demand, social
trends, customer needs, economic change as well as social trends that influence how an
organization operates and makes decisions. Furthermore, I also understand economic principles
as a study of choices that customers make in the market as well as behaviours and factors that
significantly affect those choices.
I choose a business environment course because it will fulfil my ambitions as well as my
future career dream. Through the business environment course, I will be able to achieve my
SMART short-term and long –term career goals that I have set. Besides, I have also had an
interest in business environment course ever since I was young as my colleagues who have done
the course have been so successful in their careers. I also watched a movie on YouTube in the
context of a business environment which was closely related to my course hence simulating my
interest.
Business management entails planning, organizing, leading and controlling activities in a
business. I have a total of two years of experience in business management and administration
role. I have worked as a business administrator with a particular company for one year then
assisted my elderly brother to run its small scale business as the administrator in Melbourne
Australia for one year.
The experiences that I have gained with past employers as well as previous academic
work that I have undertaken has significantly prepared me for the business environment course.
The previous education has introduced me to the key concepts, theories and frameworks that are
used in the business environment course and developed awareness on what to expect in the