Statement of Intent | Business Environment

Student Name
INSTITUTIONAL AFFILIATION(S)
BUSINESS ENVIRONMENT

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Statement of Intent
Reflective writing is one way which helps students to access their studies and relate
them with past experiences to meet future goals. Earlier I believed that business is all about
buying and selling goods and services to make profits, however, over the time I have learnt
that business comprises a set of activities like planning, organizing, controlling, staffing and
directing business effort to accomplish desired goals (Collins, 2012). With regards to it, this
reflective journal will discuss my understanding of business and how my course learning can
develop professional skills in me. I will also share some of my past experiences along with
revealing my plan to become a successful business leader.
The business environment comprises of factors which impact the business directly or
indirectly. Examples include government policies, global trends, natural factors, economic
conditions, etc. Economic principles can be considered as an environmental change occurring
due to global need in an ecological economy that requires human endeavours to satisfy
consumers need (Lahti, Wincent, & Parida, 2018). Whatever the case is, the success of an
organization rests in the hands of business leaders who are responsible for motivating team
members, set business goals and maintain a competitive business environment.
To become a good business leader, I will have to pose a diverse set of qualities and
skills which have made me choose this course in Torrens University. Since I have worked as
an intern in a small company before joining this course, my experience has helped me in
understanding those areas which require to be developed in me such as showing empathy
rather than sympathy. Since every business runs in a specific business environment, any
change in it may either bring an opportunity or a threat.

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A business environment can be defined as a combination of external and internal
factors which can influence the smooth running of a business including its stakeholders like
employees, suppliers, customers and management (Hans, 2018). Thus, I need to learn
developed ways through which business environment can be managed appropriately. Since
childhood, I have always shown interest in doing innovative things. My past academic
experience made me well aware that to perform competently, I must learn new ways through
which my innovative ideas could be transformed into success. Therefore, I chose to learn how
my future venture could be established competently with the help of my course learning.
I have learnt that before starting any new venture, the business environment needs to
be analysed thoroughly including internal and external environment to determine whether the
company can accommodate threats and opportunities. Ibrahim & Primiana (2015)
documented that a strong business leader requires building corporate structure and core
values so that strategy of the company supports labour division and economic conditions.
Therefore, to ensure that my course requirements are met, I plan to read more real-life
examples of successful business leaders and business journals to enlighten my knowledge on
opportunities and threats present in the business environment.
One thing which I observed is that there is a huge difference between a high school
and a university, particularly when managing academic responsibilities and time. When I was
in high school, everything was explained in words, starting from A-Z. But, in university, I
will have to discover what can be learnt from lectures and notes, including information’s that
needs to be evaluated and explored for further use. To manage and monitor my studies in
university level, I will adopt and implement time management skills so that my studies reach
to an effective conclusion (Miqdadi, ALMomani, Masharqa, & Elmousel, 2014). In my
school, I have seen many students often complaining that they do not get sufficient time to
compete with certain tasks and get frustrated as they are not able to make up to the deadline.