X University MGT501 Business Environment: Initial Statement of Intent

This report presents a student's initial statement of intent for the MGT501 Business Environment course at X University. The student reflects on their motivations for pursuing postgraduate studies, particularly their desire to become a successful entrepreneur. The report outlines their understanding of the business environment, including economic principles and the role of stakeholders. The student discusses their past experiences, interests, and how they plan to apply theoretical knowledge to practical skills. They detail their goals, including short-term, medium-term, and long-term objectives, and explain how they will utilize reflective practice to enhance their learning and achieve their career aspirations. The student emphasizes the importance of adapting to the modern business environment and leveraging their skills for personal and professional development.

Running Head: INTENT LETTER
0
MGT501 Business Environment
Initial Statement of Intent
(Student details :)
8/3/2019

Intent Letter
1
Initial Statement of Intent
The paper is containing an initial statement of intent in the context of a business
environment. In addition, this paper will contain my intentions in terms of the statement so
that I can identify and convey my intentions in relation to my future studies at X University.
In this way, the initial statement of intent is going to help me while growing professionally
and personally in the future workplace and life. For doing so, my focus will be on reflecting
on the lessons as well as learning gained from postgraduate studies. The letter will help me to
facilitate my future professional development. Based on (Bassos, 2016), my reflection on the
motivation for undertaking postgraduate studies will be discussed. Also, I will express my
expectations regarding the course and the ensuing the chosen career path.
To grow and relate a conceptual understanding of reflective writing in a business
context, I am reflecting and describing my own beliefs and thoughts related to business.
Based on (Heyrup & Bente, 2009), here I am describing, analysing, and evaluating learning
experiences into the global business environment context. I found that my basic
understanding of the business environ helped me to acquire illustrated knowledge on business
as well as economic principles. Initially, I realized that my knowledge and skills in relation to
business were only superficial. Gradually, over the time I got the concept of business, hence
now I am eligible to be a business person.
To me, a business can be defined as an economic system or enterprise where different
products and services are usually exchanged amid individuals against money. Based on (Zott,
Amit, & Massa, 2011), my learning suggests that all business concepts require basic
investment as core input with enough number of customers. This is the way business products
and services are sold in order to make a profit and gain a return. During studying into this
business environment module, I observed that any business can be privately owned or
government-owned. I also learned that there are businesses which are running worldwide for
making no profits hence their objectives are related to public welfare. Thus, such businesses
are known as non-profit organizations. As an example, a catering business can be taken as an
example of a privately owned business contrary Company PepsiCo is doing a corporate
business (Sim Sheng & Wahidah, 2012).
I would like to mention the intentions behind why I chose the course of MGT501
Business Environment. I chose this because I want to become a business-man of my own

Intent Letter
2
firm, as an entrepreneur (Enterslice, 2017). Therefore, through studying the course I will gain
skills and knowledge to become an entrepreneur. It will also allow me to nurture as well as
grow preferred organizational behaviour with the desired skill-set in my personality.
Moreover, I believe that becoming an owner of your own firm is not an easy process thus the
business environment course has prepared me for working in the modern business
environment. On the basis of (Shenkar, Luo, & Chi, 2014), I consider that this course is
essential for me to become a successful entrepreneur.
Apart from this, in relation to a business environ, I have relevant past experiences and
interests. My past experiences and interests motivated me to study this course so that I can
survive in the future business environment and workplaces. As an example, in school, I also
participated in and organized many business workshops and activities. Thus, based on (Zahra
& Nambisan, 2012), I found that business is my core interest and thereby I decided to pursue
my future studies into the courses related to the business environment.
While I was preparing for this course, my past experiences acquired in high school
and graduation helped me a lot to integrate my learning. For instance, when I observed family
business in our privately owned business, then it helped me to get prepared for, apply as well
as study the business course. Based on (Bassos, 2016), I realized that if I want to become a
great entrepreneur thus ensuring that all learning outcomes of my on-going business environ
course are met, is necessary. In this way, to ensure that all learning outcomes have met, I will
first assess all subject learning outcomes. Later then, I will study and learn the theoretical and
practical lessons needed to achieve business course learning outcomes. In this context, I am
also developing and applying a deep understanding of good reflective practice into a business
context. Furthermore, I will integrate all learning experiences during the course with those of
my future professional practices. In addition to that, I will attend value-added workshops as
well as academic seminars so that achieving all learning outcomes of the course can be easy
and simpler for me.
In order to manage and monitor my current and past studies to a successful conclusion
in relation to becoming an entrepreneur, I will accomplish all of my goals within the set
timelines. I found that through setting short-term, medium-term and long-term goals I can
better manage my studies to achieve an effective conclusion.

Intent Letter
3
For the future action plan, I will assess, re-assess and thereby re-evaluate set goals
regularly in order to reach a successful conclusion. While thinking about my bright future, I
will apply my past and present academic and non-academic studies in future career
endeavours into the following listed ways:
 I will apply theoretical skills and concepts to acquire all possible practical skills at
future workplaces
 I will conduct a SWOT analysis of self-evaluation and self-awareness
 I will convert my weaknesses and threats into strengths and opportunities
respectively.
 Post-learning into business environment module, I will use all possible knowledge
related to business while working in future workplaces from the perspective of
personal and professional development
 Thus, I will keep reflecting on past learning experiences so that I can apply them in
later life stages
 I will assimilate all of the academic knowledge and skills acquired through learning
subjects
For goal-setting with regards to this course, I believe in setting three types of
professional goals in order to demonstrate all of the learning during later life. My long-term
goal with regards to this course will be becoming a successful business person. Based on
(zkjadoon, 2015), I will also attempt to get industry experience in the relevant field where I
want to set my business in the future being a medium-term goal.
In a nutshell, this initial statement of intent allowed me to successfully provide a brief
description of my initial understanding of the business environment along with economic
principles. Besides, I found the reflective practice as a means of learning by doing in real-
time within a business context. Finally, I evaluated economic principles and stakeholders
viewpoints in different business environments from the perspective of future career
endeavours successfully.

Intent Letter
4
References
Bassos, B. (2016). What is reflective practice? In The reflective practice guide: An
interdisciplinary approach to critical reflection. Oxon: Routledge.
Enterslice. (2017). Introduction and Types of International Business Environment (IBE).
Retrieved 12 02, 2018, from https://enterslice.com/learning/international-business-
environment-ibe/
Heyrup, S., & Bente, E. B. (2009). Reflection: Taking it beyond the individual. New York:
Routldge.
Shenkar, O., Luo, Y., & Chi, T. (2014). International business. London: Routledge.
Sim Sheng, H., & Wahidah, H. (2012). A Study on Integrating Business Intelligence into E-
Business. International Journal of Advanced Science, 2(6), 430-434.
Zahra, S., & Nambisan, S. (2012). Entrepreneurship and strategic thinking in business
ecosystems. Business horizons, 55(3), 219-229.
zkjadoon. (2015). 17 Different Types of Business Communication Theories. Retrieved 12 04,
2018, from
http://www.businessstudynotes.com/others/business-communication/different-
business-communication-theories/
Zott, C., Amit, R., & Massa, L. (2011). The business model: recent developments and future
research. Journal of management, 37(4), 1019-1042.