MGT501 Business Environment: Assessment 1 - Reflective Statement

This assignment is a reflective statement from a student enrolled in the MGT501 Business Environment course. The student outlines their motivations for pursuing postgraduate studies in this field, highlighting their existing experience in business management and administration. They discuss their understanding of key business environment concepts, including the influence of internal and external factors on organizational operations and decision-making. The student articulates both short-term and long-term career goals, emphasizing the application of course knowledge in future business ventures, entrepreneurship, and career advancement. They detail how they plan to manage their studies and balance their personal and professional life to achieve success in the course. The student also provides insights into the skills and knowledge they expect to gain, as well as how they intend to apply these learnings in various aspects of their future career, including running businesses and engaging in entrepreneurship. The document concludes with a discussion of both short-term and long-term goals, including improving communication skills, obtaining good grades, seeking internships, expanding their professional network, and eventually starting their own company.

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
course as well as the future organizations that I will work for. The previous experience in the
business management field has further enabled me to realize the full benefit of undertaking the
business environment course. Therefore, through the experience, I have been able to developed
confidence, trust as well as hopes for career progression with the business environment career.
Galyon, Blondin, Yaw, Nalls and Williams (2012) stated that “high interest in the academic
course leads to better performance”. Therefore, I believe the experience and academic work will
lead to great results by the end of the business environment as my interest and expectation in the
course is very high.
I ensure the required outcomes are met through mapping of course elements including
Assessments, activities, lessons, chapters as well as modules to the main objectives of the course.
Through passing of assessments and activities in the course as well as be able to put into practice
what I have learned throughout the business environment course is an indication that the required
outcome of the course is met. Furthermore, receiving positive feedback from my lectures as well
as students concerning the course will indicate I have fully attained the learning objectives of the
course.
I can manage and monitor my studies to a successful conclusion through the effective
balancing of my studies, personal life as well as time. The most important thing that I want to
achieve in the business environment course is to be successful in my subjects and derive key
concepts and models from the modules which will be applicable later in my life. Therefore, am
planning to put more focus on course work as opposed to my current part-time role and social
life to be in a position of successfully concluding the course and ensuring I graduate with good
grades as well as employable knowledge and skills. In addition, am also planning to request for

a leave in the company which I work as a part-time employee for some months thanks to my
savings until I get a full understanding of the education style as well as achievement of the strong
focus on researches and lessons.
I will apply my studies in various areas later in my life. The skills and knowledge
acquired will be applied in running a local and international business, entrepreneurship as well as
career advancements. The business environment subject that I have learned in the course has
significantly equipped me with skills of conducting internal and external analysis for
international business. I will use the knowledge of micro and macro environment analyses to
analyze opportunities and threats that exist in various markets and able to provide or make
decisions which can explore these opportunities and deal with the emerging threats for the
company to remain profitable. Furthermore, I will also use business environment knowledge to
run my future projects as am planning also to engage in entrepreneurship. The time management
knowledge that I have gained from group work with short deadlines will assist me to manage
time in my future career and be able to work under pressure.
I will set two types of goals consisting of a long time and short-term goals concerning the
business environment course. The short-term goals will be improving my communication skills,
graduating with a good grade in my degree, looking for an internship in the line of my career,
expanding my professional career network and getting mentorship through LinkedIn. My long –
term goals will include gaining of management or leadership skills, learning new hard and soft
skills commonly used in an organization and entrepreneurship, enrolling into a post-graduate
program to further my career, landing a well-paying job as well as starting my own company.
References

Galyon, C.E., Blondin, C.A., Yaw, J.S., Nalls, M.L. and Williams, R.L., 2012. The relationship
of academic self-efficacy to class participation and exam performance. Social Psychology of
Education, 15(2), pp.233-249.