MGT501 Business Environment: Reflective Statement of Learning Intent

This essay presents a student's statement of intent for a business environment course, outlining their definition of business, reasons for selecting the course, past experiences and interests, and how these experiences will aid their learning. The student discusses ensuring course outcomes are met, steps to manage studies, future applications of the course, and personal goals. They emphasize the importance of understanding external and internal environmental factors in business, aiming to develop skills for entrepreneurial roles and effective management within organizations. The essay concludes with a bibliography of relevant academic sources.

RUNNING HEAD: BUSINESS ENVIROMENT
Business environment
Student’s Name
University Name
Author’s Note

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1. Definition of Business
I would define business as a set of economic activity in context to which continuous
production as well as distribution of goods takes place. The main aim of business is generation of
profit through production and distribution of goods under uncertain business environment. This
implies that business should not only take in to account production and distribution but also
consider the external and internal environmental factors. I feel that the success in business
depends on how well the business development and management personnel are able to handle the
external and internal environmental factors.
2. Reasons for selection of the course
I always felt that success in business is highly dependent on the external factors of that
impact demand and supply of goods/service in a certain business environment. This course is
perfect to provide a detailed knowledge in that field. I have a dream of playing the role of an
entrepreneur in a challenging business environment in my life. This is my primary motivation
behind undergoing this course. Besides, I had an overview of high impact of external factors like
political and legal regulations on business, since I have witnessed market conditions of my
family business severely affecting sales as well as demand. Since that time onwards I started to
presume that undertaking a course on business environment would help me to understand the
impact of external environment of business. Perceived that this knowledge would help me to
understand the linkages between the external and internal factors of business also, by means of
which I could become a successful entrepreneur in the future. These are the most essential
reasons behind undertaking this course.
3. Past Experience/interest in the area of study

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My past experience involves a hand on field work on a cooperative basis in sales client
handling. My theoretical experience involves my grade 12 major course where I learned about
current financial and economic factors affecting businesses in my country. I also had a lot of talk
about real life market demand with the Marketing specialists and Environmental Officer of my
family business, which helped me to grow the interest to undergo this course. Since my class
grades in business studies at school level, my instructors encouraged me to study this course.
They had presumed that my academic career would excel if I chose this course for my higher
studies.
4. Help obtained from past experience for this course
Since I had a job placement, I have an understanding of the key employability skills, like
problem solving in the internal environment, understanding of teamwork that helps to nullify the
impact of external environment, basic understanding of communication needs as well as
communication strategies which helps to understand the market conditions and so on. Since I
was aware of these skills, it was easy for me to understand the concepts of business environment
like economic and operational environment of business. I am also able to better understand the
influence of these extrinsic and intrinsic factors on the business organization. As an outcome, I
was able to handle the practical project works comprehensively. Again I could play a key role in
helping my peers to clear their doubts regarding concepts.
5. Ensuring that the required outcomes of the course are met
I have personally observed that good learning objectives help in determining a clear way
of measuring whether the course outcomes have been met or not. While conducting research
work, I came across a reference frame for measuring the outcomes for the course and ensuring

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that they are in alignment with the learning outcomes that have been set against every academic
project that we students are conferred with. Firstly, I have observed that learning objectives are
set by our university based on the individual or group learning needs and that is why it becomes
easier for the students to achieve the outcomes also. Hence this satisfies the first parameter of the
reference frame that “understands the audience (student)”. Secondly, the reference frame hold
that the project managers should have a good understanding of what can be done in order to help
individual students. I consider that this is one of the strengths of the educators of our university
also. The third aspect is that there should be definitive learning plan for every individual student.
So far I have observed that every individual peer of mine have been working as per their
personal development plans. Since, my university has been following these criteria religiously, I
am convinced that the required outcomes of the course are met.
6. Steps to manage and monitor your studies to a successful conclusion
I set some personal goals for acceleration and accomplishment of my learning. At first I
try to clearly understand the scope of the course of topic that is being instructed in the learning
sessions. I am always careful about selection of my project members. I prefer working with team
members who can compliment my strengths in the best possible manner. After the achievement
of every learning outcome, I do a SMART analysis of the outcomes that I have personally
achieved out of the learning. Another big consideration for me is to manage my study data. I
always choose to preserve my data as they might help me in my later projects also. Other than
these, I mostly prefer to maintain my progress data daily so that my learning outcomes are
clarified and remain aligned with my work goals.
7. Applications of the study in future

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There are several future applications of my educational course that I foresee. Firstly, the
business degrees are versatile that enables to transfer the business kills learnt during the course in
any sector of my career. Hence, it will have phenomenal impact on increasing my job
opportunities. Learning outcomes like time management in business, achieving specialized
professional skills in guiding employees and critical thinking for managing external and internal
business factors will enhance my value as a resource to the company that I will be working for.
Lastly, business organizations highly prefer individual candidates who have a good
understanding of the business environment. Hence they stand a significant chance of being
employed in executive managerial roles, which is a dream job role for me.
8. Personal goals in regard to this course
In order to gain solidarity in learning concepts, I always attempt to implement the
theoretical frameworks against real life companywide problems. Using the concepts learned, I
attempt to solve the real life business issue on a personal basis. In my learning projects, I focus
on management of contingencies, develop emergent strategies as well as suggest modifications
for the betterment of the course outcomes. I also emphasize on learning the various business
risks that might prevail under any external or internal business environment. Lastly, I strive
towards learning the organizational change needs under changing business environment that
helps me to learn skills as a entrepreneur also.

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Bibliography
Andersson, U., Forsgren, M. and Holm, U., 2015. Balancing subsidiary influence in the
federative MNC: A business network view. In Knowledge, Networks and Power (pp. 393-420).
Palgrave Macmillan, London.
Björklund, M., 2011. Influence from the business environment on environmental purchasing—
Drivers and hinders of purchasing green transportation services. Journal of Purchasing and
Supply Management, 17(1), pp.11-22.
Lozano, R., Ceulemans, K. and Seatter, C.S., 2015. Teaching organisational change management
for sustainability: designing and delivering a course at the University of Leeds to better prepare
future sustainability change agents. Journal of Cleaner Production, 106, pp.205-215.
Shrestha, P.N., 2017. Investigating the learning transfer of genre features and conceptual
knowledge from an academic literacy course to business studies: Exploring the potential of
dynamic assessment. Journal of English for Academic Purposes, 25, pp.1-17.