Reflective Statement of Intent for MGT501 Business Environment Module

This assignment presents a student's statement of intent for the MGT501 Business Environment module, focusing on self-reflection and professional development. The student reflects on how their understanding of business, economic principles, and the business environment has evolved, highlighting the impact of new technologies and consumer trends. They articulate their primary professional goal of maximizing profits while maintaining social and corporate responsibility. The student discusses how their learning relates to the present and future, emphasizing the importance of communication and negotiation skills. They express a desire to learn more about these skills and their impact on professional success. The student also outlines how they plan to apply their learning experiences in the future, emphasizing the value of continuous learning and adaptability. Furthermore, they suggest ways to further their professional development outside of formal studies, such as through interviews with business leaders. The assignment includes references to relevant academic sources.

BUSINESS
ENVIRONEMENT
Statement of Intent
Final

Has your definition of business, economic
principles and business environment changed?
• Yes, I personally feel that the definition of business,
economic principles and business environment has brought
upon drastic changes as new technologies and tools are
coming up to enhance the features. Consumer preferences,
new trends are forming up new trends that certainly are
impacting the definition of business, economic principles
and business environment. Integrated ideas that change the
level of permanent monitoring of acceptability of business
model changing circumstances have also played its role in
managing the business environment. Economic principles
and business environment have also faced changes.

What are some of your professional goals?
• My primary purpose is to maximize profits for
my business owner and stakeholder while
maintaining a healthy social and corporate
responsibly.

How does what you have learned relate to the present and future?
• I personally think for maintaining a healthy
business with proper reflective skills there are
few key points which are always constant, be
it present or future. It applies everywhere as
my learning suggests..

What do you want to learn more about, and how could it help in
your professional development?
• I want to learn more about Communication and negotiation
and it does affect us in our personal lives and also professional
development. Possessing strapping communication skills are
essential to allow others to understand us and disseminate the
information more accurately and rapidly. Also, good
negotiation contributes significantly to business success as it
will build a better relationship in the professional world
(Salleh, Yusoff, Harun & Memon, 2015). It is one of the integral
parts of creating value and financial development. Success
depends on my skills as a negotiator, regardless of seeking any
project resources or deciding on new hire's salary.

As you think about the future, how might you
apply your learning experiences in later life?
• In this mankind, most of them associate learning with
formal education at school, college and University etc.
However, the skills which I acquire in my learning
experience will always add a contribution to my later life
as a professional and personal advantage. It will boost
my confidence and self-esteem, I can adapt to sudden
changes, Can be ready to face challenges and contribute
my learning to the next generation related to this field.

What could you do to further your professional
development outside of formal studies?
• As per my knowledge what I personally think to
develop my professional life outside of formal
studies is to get engaged to more and more
Business tycoons interviews videos. Because this is
something no book or University studies will
suggest or include anywhere. Dealing a big business
is an art and how much contribution is put upon
that via reflective skills. Learning how to enhance
and shape myself for better growth is always
necessary and should be there in oneself.

References
• Easley, D., & Ghosh, A. (2016). Incentives, gamification, and
game theory: an economic approach to badge
design. ACM Transactions on Economics and
Computation (TEAC), 4(3), 16.
• Kagel, J. H., & Roth, A. E. (Eds.). (2016). The handbook of
experimental economics (Vol. 2). Princeton university
press.
• Salleh, R., Yusoff, M. A. M., Harun, H., & Memon, M. A.
(2015). Gauging Industry's Perspectives on Soft Skills of
Graduate Architects: Importance vs Satisfaction. Global
Business & Management Research, 7(2).

THANK
YOU