Reflective Assessment Report on Business Environment Course (MGT501)

This report is a reflective assessment on a student's experience in a business environment course, specifically MGT501. The student discusses their initial interest in business, influenced by a part-time job at KFC and the inspiring story of Colonel Sanders. The report explores how the course, particularly the business environment topic, has shaped their understanding of the business world, including internal and external factors influencing organizations. The student highlights the practical, team-oriented nature of the course and its impact on their skills, such as working under pressure and adapting to cultural diversity. The assignment concludes with the student's future plans, including developing their entrepreneurial skills and pitching business ideas, reflecting a positive and insightful learning experience.

Running head: BUSINESS ENVIRONMENT
BUSINESS ENVIRONMENT
Name of the Student:
Name of the University:
Author note:

1Business Environment
The current assignment aims at providing a reflective assessment on business and the
reason behind choosing this course. The assignment also reflects my past experience in this
particular filed or area which brought enthusiasm towards the course. This assignment also
depicts how this course has helped me to think what to do in future and has opened paths for
more future prospects.
Since, my school days I never considered much about business until I started taking
management course. Taking the management course made me realize how complicated business
world can be. Getting incorporated in this field was interesting and challenging too. There are
many ways of earning but what the only thing drove me away from all the other course was
business and its nature. In my words business can be depicted as creating something big and new
with minimal requirement of physical efforts but by using your mind. Understanding the core of
business theoretically is quite an easy task but not practically. The main reason of choosing this
course is only because of my intense curiosity on business and entrepreneurship. This interest
wasn’t all of a sudden I had some good past experience and memories due to which I adapted
this curiosity. It was the time when I first thought of joining graduation course, and I was
incorporated in a part-time job. I was doing my part-time job in KFC, the experience in the KFC
made me inspired to take this course and basically on business. While I was doing my part-time
job in KFC I got to hear about the stories behind KFC and KFC founder Colonel Harland
Sanders. How he started this business, at what age he started his business, his mental condition
while starting this business. That person really inspired me that it takes effort, stability and zeal
of doing something big and business is something which incorporates these things.
Being student from Business Management for me Business was analytically a testing
ground to imply all the principles of management. My learning gave me guidance towards

2Business Environment
business. The marketing, entrepreneurship and financial resource management were the major
subjects I was interested into and made me competent. The business environment topic in
marketing is something I was more curious about. The business environment concept was really
interesting and fascinating for me that company use the combination of both external and internal
factors to influence the organization operating system either in a positive or in a negative way
(Kwan, 2019). The external factors include political, social, economic, technological, legal and
environment which puts a great impact the organization productivity (Antikainen & Valkokari,
2016). The internal factors are incorporated from within the organization which includes
suppliers, clients and owners and competitors as well. The main significance of this concept is to
understand the overall market (Brahimi, Aoun & Amar, 2019). For example: when I will open a
new business the first thing I need to focus on is my own product and it demand. The later stage
to focus on is business environment the political issue of the country, the economic condition of
the market, the social-cultural environment of the society, the new technological innovations that
I can use in my business (Amuna, Al Shobaki, & Naser, 2017). The internal factor I must give
priority on is the suppliers, my market intermediaries, my business competitors. This analysis is
necessary in order to take appropriate decision for my business. The business environment
affects all the decision, process, strategies and the productivity of the business.
The course was very practical based and the investment being appropriately minimal
gave me courage to try new things. An effective classroom structure is also a factor for
encouraging my interest in business. The class room is itself a great forum for variety of
business. This has provided the optimum opportunity to see each student’s idea transforming into
innovations and creativity and ultimately becoming reality. Moreover, this experience also gave
an insight of the demand based products in the market and society. I was quite fascinated to see

3Business Environment
the products with low manufacturing coat and gain high profit with demand and sales. There are
business competitions from where we gained more knowledge by sharing our experience and as
well as seeing each other’s business experience. I personally felt enthusiastic by knowing about
the blend of creative economy in the society.
A very important skill which is furnished within me is to work in team with different
people with different perception and culture (Hamilton & Webster 2018). A good mange and
entrepreneur will have to learn how to work under pressure and constraints and how to make the
best use of available resources. Group working was beneficial for me as it enabled me to
understand the importance of working as a team and how to adapt cultural diversity in an
organization (Oriesek & Schwarz 2016).
But my education and reading made things simpler and helped me to develop my
practical knowledge on business. I gained wonderful experience of running a business and
gaining vast knowledge.
I can ensure that my learning is beneficial for me as this course has helped me to work in
constraint and to understand my assignments and case studies. I am able to analyze the prospects
of business and I have got a clear vision that what I want to become in future. As a future plan
the course has helped me realize the entrepreneur within me. Apart from all this things it has
helped me to develop all the competency and skills which is required to be a good entrepreneur.
This learning has given me the best interest of my course. The business pitching workshops has
guided me to develop my idea pitching skills and I hope to get sufficient funding for business
through this learning and workshop. Through the learning outcome and my experience I have
pitched various ideas which I intend to reflect further for the betterment of the society.

4Business Environment
Thus I can say that the overall experience and knowledge I gained from this course was highly
profitable for me and I would say that this session was a life time experience and I wholly
appreciate myself for choosing this course.

5Business Environment
Reference
Amuna, Y. M. A., Al Shobaki, M. J., & Naser, S. S. A. (2017). Strategic Environmental
Scanning: an Approach for Crises Management.
Antikainen, M., & Valkokari, K. (2016). A framework for sustainable circular business model
innovation. Technology Innovation Management Review, 6(7).
Brahimi, S., Aoun, N. B., & Amar, C. B. (2019). Boosted Convolutional Neural Network for
object recognition at large scale. NeuroComputing, 330, 337-354.
Hamilton, L., & Webster, P. (2018). The international business environment. Oxford University
Press.
Kotler, P., Burton, S., Deans, K., Brown, L., & Armstrong, G. (2015). Marketing. Pearson
Higher Education AU.
Koval, M. R. (2018). Not Too Hot and Not Too Cold: A Contract Negotiation Activity That May
Be Just Right. Atl. LJ, 20, 35.
Kwan, J. (2019). Educational goals, assessment preferences and approaches to learning of MBA
and MPA students in Singapore. Journal of Applied Learning and Teaching, 2(1), 24-44.
Lovelock, C., & Patterson, P. (2015). Services marketing. Pearson Australia.
Oriesek, D. F., & Schwarz, J. O. (2016). Business wargaming: securing corporate value.
Routledge.