MGT501 Business Environment: Statement of Intent Report - Reflection

This document is a student's statement of intent, prepared for the MGT501 Business Environment course. The introduction highlights the student's initial awareness of business concepts and their aim to reflect on the learning process. The student discusses their enhanced understanding of business environments, including finance, marketing, and operational factors. They identify internal factors like operations and employee motivation, and external factors like political, social, and technological influences. The report outlines professional objectives, such as securing a good position in a multinational corporation and eventually starting their own business. The student details how they plan to apply the acquired knowledge, including providing growth strategies, coordinating with seniors, and guiding peers. The report concludes with references to relevant academic sources. This document is available on Desklib, a platform that provides resources like past papers and solved assignments to support student learning.

STATEMENT OF INTENT

INTRODUCTION
• I AM A STUDENT AND LEARNER OF BUSINESS ENVIRONMENT
• MY SPECIALTY IS………..
• MY AIM IS TO PROVIDE AN EFFECTIVE REFLECTION OF THE ENTIRE LEARNING
PROCESS AND THE DEVELOPMENT OF LEARNING
• I WAS MERELY AWARE OF SOME OF THE CONCEPTS OF BUSINESS
ENVIRONMENTS AND NEEDED TO ENHANCE THEIR KNOWLEDGE FURTHER

DEVELOPMENT OF UNDERSTANDING
• THE LEARNING EXPERIENCE WAS MUCH REQUIRED AS I NEEDED
TO BECOME AN OPTIMALLY KNOWLEDGEABLE PERSON IN THE
FIELD OF BUSINESS
• MY UNDERSTANDING OF BUSINESS WAS LIMITED TO THE
CONCEPTS OF PRODUCTIVITY, PROFITABILITY AND PERFORMANCE
• THROUGH THIS SUBJECT I WAS ABLE TO UNDERSTAND THE
INTRINSIC ASPECTS RELATED TO THE BUSINESS ENVIRONMENTS
• I GOT TO LEARN MORE ABOUT FINANCE, MARKETING,
PRODUCTION, OPERATIONAL FACTORS
• I LEARNT ABOUT INNOVATION

DEVELOPMENT OF UNDERSTANDING
• LEARNING HELPED ME TO IDENTIFY THE PRECISE INTERNAL ENVIRONMENTS
• LEARNING HELPED ME TO UNDERSTAND THE PRECISE EXTERNAL ENVIRONMENTAL FACTORS
• INTERNAL FACTORS LIKE OPERATIONS, EMPLOYEE MOTIVATION, SYSTEMS AND OTHER
FACTORS
• EXTERNAL FACTORS LIKE POLITICAL, SOCIAL, TECHNOLOGICAL, ENVIRONMENTAL, LEGAL
AND OTHERS
• I LEARNT ABOUT HOW THEY INTERACT WITH EACH OTHER
• PREVIOUSLY I WAS ONLY ABLE TO BARELY IDENTIFY THE FACTORS

PROFESSIONAL OBJECTIVES
• TO GET SELECTED IN A GOOD POSITION IN A
REPUTABLE MULTINATIONAL CORPORATE ORGANIZATION
• TO BECOME AN EFFICIENT PERFORMER IN THE
ORGANIZATION
• TO WORK ACCORDING TO THE PARAMETERS SET BY THE
ORGANIZATION
• TO COORDINATE EFFECTIVELY WITH THE SENIORS FOR
ACHIEVING SUCCESS
• TO GET RAPID GROWTH THROUGH PROMOTION AND
SELF DEVELOPMENT
• TO OWN MY OWN BUSINESS IN THE DISTANT FUTURE

APPLICATION OF LEARNING TO THE SUBJECT
• I WANT TO APPLY THE KNOWLEDGE TOWARDS PROVIDING STRATEGIES FOR GROWTH TO MY TEAM
• I WOULD APPLY THE CONCEPTS LEARNT TOWARDS COORDINATING EFFECTIVELY WITH MY SENIORS
AS AND WHEN NECESSARY
• I WANT TO APPLY THE CONCEPTS LEARNT WHEN I START MY OWN BUSINESS VENTURE
• I WANT TO APPLY THE CONCEPTS TO BETTER GUIDE MY SENIORS PEERS AND MANAGERS

REFERENCES
• PRAJOGO, D. I. (2016). THE STRATEGIC FIT BETWEEN INNOVATION
STRATEGIES AND BUSINESS ENVIRONMENT IN DELIVERING BUSINESS
PERFORMANCE. INTERNATIONAL JOURNAL OF PRODUCTION
ECONOMICS, 171, 241-249.
• CHANG, J. F. (2016). BUSINESS PROCESS MANAGEMENT SYSTEMS: STRATEGY
AND IMPLEMENTATION. AUERBACH PUBLICATIONS.