Business Environment Reflective Essay: Personal and Career Goals

This reflective essay explores a student's perspective on the business environment, detailing their motivation for pursuing postgraduate studies in management. The essay reflects on the student's career aspirations, including a desire to start their own company and develop essential management skills. It examines key elements of the business environment, such as social, legal, ethical, and environmental concerns, and how these impact stakeholders. The student analyzes economic principles like opportunity cost and discusses the influence of globalization and consumer behavior. They also share insights gained from seminars, workshops, and real-world observations, connecting theoretical concepts with practical examples. The essay concludes by outlining the student's short-term and long-term goals, emphasizing the importance of strategic leadership, decision-making, and analytical skills to succeed in a complex business environment. The student aims to excel in the consulting industry, improve data analysis, and critical thinking abilities, all while balancing their creative side with business objectives and improving time management and interpersonal skills.

Running Head: BUSINESS ENVIRONMENT 0
Business Environment
Student Details

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Reflective Essay on Business Environment
Business can be defined as the process to innovate or produce any product or service
which can benefit any individual. The major element of business is that it should earn profit
as earning gains is the basic need to sustain any business (Vranceanu, 2014). Any activity
which is giving benefit to the individual in return of money is business. The business
objectives are changing with the changing needs of the customer. In earlier days the business
aim was to earn profit without having any concerns for their stakeholders. Now this definition
has completely changed its meaning as stakeholders now play a huge role in success or
failure of any business.
As a student, my aim to choose this course is to have superior business knowledge as
I wanted to improve my networking skills and earning potential with the help of this course. I
have always wanted to pursue management course as it will open the doors to new career
opportunities. I also want to start my own company in future and I personally feel that this
course will definitely help me to achieve my goal.
Being a creative person I have explored multiple aspects of business which includes
human resource, finance, and marketing. This has given me great opportunity for clearer
career goals. I have completed various internships and part-time jobs to understand the
essence of business environment. As I mentioned earlier that the business is changing
vigorously this has led to impact business environment. With my experience, I am trying to
understand the different elements of business which impact the business environment. In my
understanding, the major elements of business environment are Social, Legal, Ethical and
Environmental concerns. These perspectives define business environment and alter with
changing economic conditions. The social concerns of the business are relating to employees,
suppliers and the society as a whole. The business also varies from region to region as
consumers needs and income defines their choices (Hillton & Platt, 2013).
Whenever I read an article relating to business I personally feel that economic
principles have changed aspects of business environment. The major principles of economics
are principle of opportunity cost which explains the unlimited wants with limited sources.
The consumers always have to make choice and pay opportunity cost in the process as
consumer have more wants than resources. The aspect of business environment has changed
through globalization and the competition has led in enhancement of quality of products and
service (Varadarajan, 2010). To understand consumer behaviour it is very important to

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understand the market segments and market channels (Evanschitzky, Sharma, & Prykop,
2012). I have been attending various seminars and workshops which will help me to get my
desired objectives from this course. To understand consumer feedback I have been reading
various blogs, I also try to speak the customers in any store to understand that what attracts
customers for choosing any product and service whether its brand or price. This will help me
in understanding the customer views on various issues like climate change, employees
benefit, and labor laws.
It is very important that I understand the business environment in context of real-life
scenarios as this will help me in implementing management skills in future. I always try to
connect the business theories with real examples and that help me to understand what are the
features which actually exist in real life scenario and which do not. As I think of the future I
think this study will help me in time management and interpersonal skills. I want to succeed
as a business professional and for that, I want to improve my decision making and analytical
skills.
The goal of pursuing this course is to operate and lead in this complex business
environment. To open my own company I have to be excellent in strategic leadership
perspective. To understand the stakeholder’s viewpoint is one of the main tasks of being a
manager. The various elements of business environment as discussed are social, legal and
environmental (Wetherly, 2014). These elements directly impact the stakeholders as
stakeholders are the individuals or groups who are involved in the business or have an
interest in business objective. The major stakeholders are customers, employees, suppliers,
creditors, shareholders, government and community (Seemiller, 2018).
In long term being a manager, this course will provide me versatility and stability
with regard to where and how I will apply my skills. The management knowledge and skills
can prove advantageous across various disciplines and functions. The role of good corporate
governance is to have cohesive understanding of all the organization theories and function of
management (Tricker, 2015). The best part about this course is the assignments, role plays,
and presentations as they are helping me in sharing my views in better way which can help
me in becoming a good manager. These theories and studies help me to motivate and
understand my team.
The business has power to influence the community with their operations. It is the
organization responsible to provide safe products and services to the customers which are not

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affecting the environment in negative way (Windsor, 2013). Also, the employees and
suppliers should have health and safety precautions. It is the business responsibility to
provide good working environment for their employees. (Vranceanu, 2014)
My goals from this course are to excel in consulting industry. I believe that this course
will help me in syncing the creative side with the business goals. This course will help me in
improving my data analysis, strategic and critical thinking skills to solve any management
problem.
To manage and monitor my studies, I have established short-term and long-term goals
for studying. I have also made list of all the subjects and important topics to work. This is
helping me in organizing and planning my work properly. This course also helps me
prioritizing the skills which I need to work most. To monitor my work I check my projects
weekly and try to implement the changes as required in order to achieve the desired results.

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