MGT501 Business Environment: A Reflection on Learning at Torrens Uni

This essay presents a student's reflection on their learning journey in the Master's Degree Course in Business at Torrens University, specifically focusing on the MGT501 Business Environment module. The reflection covers the student's motivations for undertaking postgraduate studies, expectations regarding the course and future career path, and the development of critical thinking and strategic planning skills. It also discusses the student's prior Bachelor of Business course, the benefits of the mentoring program at Torrens University, and strategies for monitoring academic progress. The student aims to achieve a high score to demonstrate competence in business subjects and secure a suitable job. Key learnings include contemporary, marketing, and financial management, as well as an understanding of different market competition types and economic policies. The student intends to apply this knowledge in their professional life to contribute to organizational success. Desklib provides similar past papers and solved assignments for students.

Running head: REFLECTION ON LEARNING
Reflection on Learning
Name of the student
Name of the University
Author note

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REFLECTION ON LEARNING
The Master’s Degree Course in Business from the Torrens University has taught me
how to undertake the innovative approach that can help in understanding the business
strategies. It has helped me in knowing about how a business can gain the competitive edge
that can help it in its future. It has taught me valuable skills that can help me in moving into
the management role in the future.
The post-graduate course has taught me regarding how to interpret the business
environment that can help in the identification of the business opportunities. The course has
helped me in learning about the strategic along with the marketing plans that can help me in
taking up the professional role of a manager (Nohria, 2017). It has imbued within me the
critical thinking skills that can help me in solving the problems arising in the business. It can
help in driving the business within the competitive market. I have chosen this course so that it
can help me in having a successful profession in the future that can help me in rising ahead in
the professional hierarchy.
I had previously done the Bachelor of Business Course from Swinburne University
that equipped me with knowledge in the area of business, management along with the
operations that had prepared me for various kinds of roles within the modern organisations.
This previous experience provided me with the theoretical knowledge that can help me in
understanding the needs of the business. I had carried out various kinds of multi-disciplinary
projects that have provided me with the practical knowledge in relation to a business. The
Bachelor of Business course has provided me with training pertaining to the management
along with the leadership skills that have been able to prepare me for the managerial roles
(Scholes, 2015). This course has prepared me for the post-graduate course as it has helped
me in understanding the basic concepts in relation to the field of the business.

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REFLECTION ON LEARNING
I take due amount of care so that the outcomes of the course of met by taking recourse
to the mentoring program in the Torrens university. I took the help of the college professors
who have proved to be of great use in providing me with the real-life business problems and
how they were solved with the help of the right decisions taken by the management of the
organization. The mentors in my college have been instrumental in creating the well-balanced
learning process that can help in meeting the strategic objectives of an organization. The
mentoring program has imbued in me the relevant amount of knowledge that can be used for
my future career (Maylor, Blackmon & Huemann, 2016).
There are certain steps that can be taken that can help in monitoring the element of the
studies and bringing it to a successful conclusion. I can take the help of my mentors in
college along with the professors in the college that can help me in understanding whether I
have been able to improve in relation to the business skills since undertaking the course. I can
seek the help of the professor who can help me in the area of the formative assessment. It can
help in providing me with the ongoing feedback that can be instrumental in improving the
aspect of learning of the students (Maylor, Blackmon & Huemann, 2016). The frequent
evaluations can help me in understanding my merit that can be used by me later on in my
professional life.
I would like to score 90 % in my masters results course that can suggest my
competence pertaining to the business subjects. It can help in indicating my acumen that can
prove to be of use for my professional life. It can help me in getting a suitable job that can
greatly help in my professional career. The results can help me in getting a job in a reputed
organization that can set the stage for a good professional life. It can help in indicating that I
can devise the successful business strategy that can help me in developing the business.

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REFLECTION ON LEARNING
The knowledge that I have derived with the help of the post-graduate course can be
applied by me in my later life. I have been able to learn about Contemporary Management
along with the Marketing Management that can be used by me in my professional life. The
course has taught me about Financial Management that can be used by me at a later point in
the organization where I am working in. The subject of the Strategic Management can help
me in deciding about the right course of action that can ensure the success of my
organization. It can help me in understanding the various aspects of the human resource
management that can be used by me at a later point in my life.
I have been able to learn about the various kinds of competition that exist within the
free market system. I have understood about perfect competition, monopoly, oligopoly along
with the monopolistic competition with the help of this course. I have understood about
economic policy that has helped me in understanding about the elements of the monetary
policy along with the fiscal policy. The government can influence the economy by taking
recourse to taxation along with the regulation (Theconversation.com., 2019). I have
understood that government should achieve the economic policy aim of economic growth,
price stability along with the full employment. The government should maintain the low
interest rate along with the balanced budget that can help in its development
(Investopedia.com., 2019). I have been able to learn that the low rate of the interest can cause
the inflation with the increase in the spending. State of the economy can be said to be related
to that of the business opportunities. In the event of an economy being strong, the businesses
become inclined of taking more amount of risks. It can also prove to be useful in hiring the
new employees along with investing in the area of research and development.

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REFLECTION ON LEARNING
References
Investopedia.com. (2019). Is Economics Really a Dismal Science?. Retrieved from
https://www.investopedia.com/terms/e/economics.asp
Maylor, H., Blackmon, K., & Huemann, M. (2016). Researching business and management.
Macmillan International Higher Education.
Nohria, N. (2017). Fast forward: The best ideas on managing business change. Business
Review, 9, 10.
Scholes, M. S. (2015). Taxes and business strategy. Prentice Hall.
Theconversation.com. (2019). Budget explainer: What do key economic indicators tell us
about the state of the economy?. Retrieved from https://theconversation.com/budget-
explainer-what-do-key-economic-indicators-tell-us-about-the-state-of-the-economy-
40470