Torrens University MGT501 Business Environment Reflection Report

This report is a reflective piece by a student enrolled in the MGT501 Business Environment course at Torrens University. The student outlines their motivations for pursuing a Master of Business Administration, emphasizing the importance of diverse knowledge and skills in the contemporary business landscape. They discuss their prior work experience as a sales executive and how it has prepared them for the course. The report details their reasons for choosing Torrens University, highlighting its international student population and educational quality. The student sets performance indicators for their studies, including midterm exam results and knowledge acquisition, to ensure they meet their objectives. The core goal is to gain corporate knowledge and develop critical reasoning skills to navigate the competitive business environment and achieve their career aspirations. The student reflects on how this course will prepare them for the practical application of their knowledge in the workplace.

Running head: BUSINESS ENVIRONMENT
Business environment
Name of the student
Name of the university
Author note

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In the current and contemporary business scenario, it is important for each of the
professional individuals to gain diverse knowledge and skills in order to succeed. This is due to
the reason that the current business states of affairs are challenging as well as competitive in
nature. The definition of business in the current time is different to that a few years ago because
the entire concepts and processes of business got changed in all these years. Business defines the
commercial activity of any entities or the professional activity of the individuals. The skills,
knowledge and expertise required in indulging in modern day business process are more
complex and extensive (Hesselbarth & Schaltegger, 2014). Hence, it is important for me as an
individual to have that access in the real world situation and admission in Torrens University just
served me right. I took admission in Torrens University for completing my masters in business
administration. The key reason behind choosing Torrens University is their goodwill and
education quality. In addition, prior to the admission in Torrens University, I also gathered the
information about the presence of more than 10000 international students. This denotes the
quality of this university in offering services to the international students. On the other hand, the
key reason behind selecting the masters of business administration is the associated potentialities
(Bronzo et al., 2013). This refers to the fact that masters in the business administration offer the
best and most diverse career opportunities in the current time.
This should be noted that the current business scenario is being dominated by the market
centricity and each of the business activities is based on the determination of the market trends.
In this case, the masters in business administration are the most effective choice in the required
expertise. In my curriculum, I got exposed to different real world situations where I got the
practical knowledge about how to deal with different organizational and corporate affairs. I
planned for corporate career prior to the admission in the Torrens University and thus the

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selection of masters of business administration is the most suitable for me. I have prior
experience in workplace management before admitting in this course. In my prior work
experience, I have worked as sales executive for 2 years and thus, I gained enough expertise and
knowledge in managing customers and facing different market trends and factors. Coupled with
the degree in masters of business administration and work experience, sale and marketing skills
are proficient for me (Gorman & Klimberg, 2014). My prior workplace experiences not only
helped me in gaining skills but also in preparing me for this course. This is due to the reason that
there is certain amount of knowledge required for the admission in the masters of the business
administration because; the students should have clear understanding about the basic business
terminologies in order to have maximum return from the course. Thus, I mainly got this
knowledge from the workplace experience and also from the external sources. These external
sources include the study materials and my graduation degree certificates (Kaplan, 2017). I have
completed bachelor in business administration, which helped me in creating the foundation
before opting for the master degree. The proper balance of practical and domain knowledge
helped me in preparing for this course.
On the other hand, getting admitted for the said course in Torrens University is not
enough but also to ensure the meeting of the required outcomes from it. In this case, I have
designed a few performance indicators that can help in preventing from deviation. For instance, I
will first create a few criterions based on my objectives from the course. These objectives will be
both short term and long term and accomplishing each of them will help me in ensuring the
desired outcome from the course. In terms of monitoring my growth in the study, I will use the
performance indicators such as determination of the midterm exams. Torrens University is
having proper structure of taking number of midterm exams including the class tests and mock

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tests. The results from these exams will be beneficial for me in identifying the areas of
improvement and how to mitigate them. The other performance indicator to be used by them will
be the determination of the gathered knowledge. This will be an effective mode because I will be
able to identify the gaining of new knowledge from this course and I can be ensured that my
study is going to the right direction. However, in this case, it should also be noted that apart from
reviewing my improvement, I should also make myself eligible as per the current business and
industrial standards. This is due to the reason that acquiring new domain knowledge will not be
enough if I cannot be eligible and dynamic enough for the current industrial standards. Hence, I
will also be extra careful for about my effectiveness in the external business environment.
In the later life, the gaining from this course will be beneficial for me in managing the
real world issues and complexities. This is due to the reason that this course will prepare me to
implement the domain knowledge in the practical situation. I will also take the newer challenges
in the workplace to relate them with the diverse sets of knowledge gained by me. It is desired by
me that my core goal from this course will be to become eligible in terms of required corporate
knowledge for the current business trends. In addition, I also aim to gain more analysis and
reasoning skills towards the different and diverse business problems through this course. This is
due to the fact that the expertise to be gained from this course will help me to come up with more
critical reasoning skills and i can deal with the business issues in more effective manner. Thus, it
can be concluded that my admission in the Torrens University for masters of the business
administration will be beneficial for me to get more eligibility in the current competitive business
scenario.

4BUSINESS ENVIRONMENT
Reference
Bronzo, M., de Resende, P. T. V., de Oliveira, M. P. V., McCormack, K. P., de Sousa, P. R., &
Ferreira, R. L. (2013). Improving performance aligning business analytics with process
orientation. International Journal of information management, 33(2), 300-307.
Gorman, M. F., & Klimberg, R. K. (2014). Benchmarking academic programs in business
analytics. Interfaces, 44(3), 329-341.
Hesselbarth, C., & Schaltegger, S. (2014). Educating change agents for sustainability–learnings
from the first sustainability management master of business administration. Journal of
cleaner production, 62, 24-36.
Kaplan, A. (2017). European management and European business schools: Insights from the
history of business schools. In Management Research (pp. 211-225). Routledge.