Business Environment (MGT501): Initial Statement of Intent, Part A

This assignment is an initial statement of intent for the MGT501 Business Environment course, completed by a student at Torrens University. The student provides a detailed introduction, outlining their background in business and management, including previous coursework and work experience. The assignment addresses key questions such as the student's definition of business, the rationale for choosing the course, past experiences, and how these experiences have prepared them for the course. It also covers how the student plans to ensure course outcomes are met, manage their studies, and apply their learning in the future. Furthermore, the student sets specific goals for the course and outlines their future career aspirations, including how they intend to utilize their Master's degree. The assignment reflects on the student's self-reflection, motivations, and expectations for their postgraduate studies, ultimately aiming to develop a strong understanding of business environments and leadership.

Running head: PART A- INITIAL STATEMENT OF INTENT
PART A- INITIAL STATEMENT OF INTENT
Name of the Student
Name of the University
Author Note

1PART A- INITIAL STATEMENT OF INTENT
Introduction and background
I completed school and enrolled in a business school for completing my graduation. I
come from a humble upper middle income family. Previously I had studied business oriented
courses like business communication, finance and management. My background has always been
business and management. I am interested in knowing more about business management,
business environment and leadership. In Torrens University my intent is to develop both
knowledge about business environment and experiences through any internship that I am able to
partake at the same time. I want to develop optimal knowledge about business, management and
leadership. Initially I had limited understanding of business environment and economics. I
considered business environment to be the markets where businesses operate. I had limited
knowledge of the economic principles and only knew them by heart. My perception changed
after my enrollment in the course.
Definition of business
According to me a business is any endeavor that is taken towards making profit by
providing individuals, groups or other organizations some or the other form of goods or services.
I believe business to be the activity where one can make a living through making money by
engaging in production of goods and services and buying and selling of the same. I believe that
profit is the most important value that can be assigned with any business. However, there are also
other important aspects that are intrinsically related with businesses.
Rationale for choice of the course
I chose this course as I wanted to learn more about how businesses work. I wanted to
gather more knowledge about the very much realistic and real time issues that affect businesses

2PART A- INITIAL STATEMENT OF INTENT
across the world. The course was according to me the best way to learn more about how
businesses actually work. Also, I enrolled in this course to develop a more holistic understanding
of business and management. This course encompassed all the significant aspects that were
related to business environments and businesses in general.
Past experiences in the area
I had previously learnt about management, finance and business communications.
Previously, I had worked for some time at a management consultancy. I gained much important
knowledge about how businesses work and the importance of management. I have significant
knowledge in accountancy, business communication and management studies. Hence, I have
essential background that is required for this course of business environment.
Role of experiences in the course
Knowing about the various aspects that are connected with management has helped me to
understand the business environment aspects more clearly. In case of my academic endeavors I
have been able to relate the larger portion of my previous learnings to develop better
understanding of this course. My work experiences have helped me to understand more of the
practical exercises that were related to the course learnings. The course has also been much
important recap of my previous learning. Hence, it has improved my basic knowledge.
Ensuring the required outcomes
The required outcomes of the course are depended on my learning and subsequent
academic performance. I will ensure that I learn all the important concepts that are related to
business environments. Moreover, I would need to gather enough practical knowledge of
business environment to optimally develop my knowledge and understanding. The required

3PART A- INITIAL STATEMENT OF INTENT
outcomes will be met as I would focus on improving my learning standards in accordance with
the requirements of the courses.
Managing and monitoring the studies
Managing the studies would first require effective organization of learning materials. I
would need to develop effective study plans to create a strong learning environment for myself.
The focus should always be on my self-development. This would help me to create a positive
goal oriented learning outlook. I would need to pay more attention towards both theory and
practical exercises. I would need to keep track of my learning process. The assessment that I give
would help me to prepare myself for the business environment course. Hence, it is important that
I partake mock assessments to help me in my real assessments.
Application of studies in later life
In the future the environment would be different. I would feel the constant pressures of
corporate life. The only way I can tackle the challenges that come with corporate life is to apply
more of the practical sides of the learning that I would be gathering from the course. I believe
that both the theoretical and the practical part of my learning would actually help me to perform
better in my corporate life moving forward. Hence, in essence what I am able to learn most
effectively would be used in my future endeavors. I would apply the principles and concepts to
the real life problems that I would come across.
Setting goals for the course
I would like to gain optimal knowledge of the course. My first aim is to pass all my
assessments with distinction marks. However, I would also like to help my peers to grow. I
would engage in group learning and gain distinction marks even in the group and practical

4PART A- INITIAL STATEMENT OF INTENT
assessments. I would like to develop better relationships with my teachers and peers to gain
effective knowledge of the entire course. Another of my important goals would be to pass the
internships that I would need to do with flying colors.
Conclusion
Future goals
My future goals are important in determining my future courses of actions. I want to
firstly work for a reputed business organization that has global presence. After some time I want
to work with smaller companies and help them to grow after gaining significant experiences.
Later on I would like to open my own consultancy firm and help other businesses to grow and
develop.
Using the degree
The Master’s degree would help me to gain more confidence in my learning and abilities.
I would use this degree to get a higher management role in a reputed multi-national organization.
The master’s degree would be one of the best things that would be reflecting in my resume. I
would like to use this master’s degree to give a firsthand impression of the knowledge that I have
acquired for a long time.