Task

Post-Reflection on MGT501 – Business Environment

Post-Reflection  

Using Gibbs' Reflective Model, I will use this presentation to reflect on my learning experience at Torrens University's MGT501: Business Environment course. This model will lead me through my experiences, reflections, and personal development, emphasising how it has influenced both my professional and personal progress throughout the course (Adeani et al., 2020).

Description 

My main goal upon starting my MBA programme at Torrens University was to combine my unstructured, non-formal knowledge with my informal business thoughts. My first goals were to have a thorough understanding of fundamental business ideas and principles, since I felt that this would be essential to improving my professional acumen and ability to make decisions. As someone whose background mainly consisted of observations and personal experiences in the business world, I was excited to learn more about the academic side of business management.

I thought the programme would provide me a better understanding of different business tactics, economic concepts, and management approaches. My objective was to increase my theoretical understanding while simultaneously honing practical abilities that I could use in actual business situations. I saw this course as a means of bridging the gap between my current, rather incomplete grasp of business operations and a more comprehensive, all-encompassing viewpoint.

In addition, I was excited to learn about how dynamic, complicated, global corporate environments function and how strategic decisions are made. My desire to either change organisational procedures or pursue entrepreneurship in the future fed this hope. I thought that an MBA would provide me the skills and self-assurance I needed to evaluate business environments objectively, spot areas for development, and put successful plans into action for long-term success.

Feelings 

I was excited and nervous at the same time when I enrolled in the Business Environment course. Despite my history in informal business learning, I was a little nervous about how well I would adjust to the demanding academic atmosphere even though I was excited about the idea of delving further into formal business education. I struggled with unfamiliar ideas and theories during the first few sessions, which was daunting, but it also piqued my interest and want to learn.

My initial nervousness gave way to a deep sense of engagement and passion as the training went on. I grew really interested in topics like market analysis and strategic management, which were difficult at first but got more fascinating with time. There were times when I was frustrated, especially when I was attempting to comprehend difficult ideas or when my assumptions about business were refuted. But frequently, these experiences were followed by insights that expanded my viewpoint and enhanced my comprehension.

I remember having a strong sense of pride and success when I was able to put the theoretical knowledge to use in real-world situations or when I made a valuable contribution to group projects and debates. These experiences were immensely inspiring in addition to being reassuring.

My emotions changed towards the end of the course into a deep appreciation for the educational experience. My confidence has increased as a result of the knowledge and realisations I have learned. Along with being an academic pursuit, the trip was also a personal exploration of self-discovery, where I gained knowledge not only about the business world but also about myself.

Evaluation 

My experience in the Business Environment course has been both informative and challenging, especially in terms of learning new business concepts like market segmentation, value chain analysis, and strategic management. I now have a far better understanding of the complex inner workings of the corporate world thanks to these advanced business principles.

The lesson on strategic management was one of my favourite parts of the journey. It gave me a thorough framework for delving into business issues and coming up with winning solutions. This training went incredibly well since it aligned with my desire to make wise choices in a professional environment. In a similar vein, value chain analysis was another subject I learned a great deal about. It was enlightening to realise how each step in the value chain enhances the product and influences a company's ultimate success (Viljoen et al., 2019). My understanding of how companies ought to function and compete was altered by it. 

The voyage was not without difficulties, though. At first, it seemed impossible to understand the intricacies of market segmentation. Although the idea seemed simple in theory, it turned out to be complex in practise. It was previously difficult to understand different market dynamics and customer behaviours since they required a deeper level of analysis and critical thinking.

All in all, it has been a really fulfilling experience. It challenged me to think critically and rigorously, challenging me to learn more about and comprehend business at a deeper level than I had previously. The difficulties I overcame helped me develop a more complex and useful grasp of these business ideas, which I think will be extremely helpful as I advance in my career.

Analysis

The lessons I imbibed in the course has completely changed the way I think about the business world, especially when it comes to organisational analysis and strategic decision-making. My early impressions of corporate operations and strategy were quite skewed due to a combination of personal experiences and unofficial observations. But the training provided a more thorough and organised view, exposing the subtleties and complexity of the corporate world.

Strategic decision-making taught me the value of methodical, analytical thinking. Previously, I thought that market trends or gut feelings were the main factors that determined business decisions. I now recognise how important long-term planning, risk assessment, and data-driven analysis are (Bai et al., 2022). I can now assess both internal and external aspects influencing company decisions with the help of concepts like SWOT and PESTEL analysis, enabling me to take more strategic and informed approaches.

In terms of organisational analysis, the course covered the complexities of how businesses operate as well as the importance of different elements such as structure, leadership, and organisational culture in defining success. Previously, I didn't realise how difficult it was to manage organisational dynamics. I now recognise the fine line that must be drawn between corporate objectives, employee ambitions, and market expectations.

My approach has changed from being solely empirical to balancing theoretical insights with real-world experience as a result of this better understanding. It has equipped me with the skills necessary to address business obstacles more skilfully, taking into account not just the short-term effects but also the longer-term effects of decisions made on behalf of the organisation and its stakeholders.

Conclusion

My experience pursuing the Business Environment course has been life-changing, greatly advancing my development on the professional and personal fronts. I have discovered throughout the course that strategic thinking, analytical abilities, and an awareness of the human component in organisations all work together to create good business management (Srivastava & D’Souza, 2021). My ability to think critically has improved significantly, enabling me to approach business problems from a more thorough and nuanced standpoint.

The realisation of the significance of data-driven decision-making in business was one of my main takeaways from the experience. This has helped me both professionally and personally by forming the habit of looking for evidence-based answers. I have also developed an appreciation for the intricacy of organisational dynamics, realising that effective management entails fostering a supportive and fruitful work environment in addition to maximising profits (Troisi et al., 2020).

My goals for my profession have drastically changed as a result of this training. My initial objectives were to progress in my current position and potentially look into starting my own business in the future. But these days, I am more drawn to leadership positions where I can carry out tactical plans and promote organisational transformation. With the knowledge and skills, I have acquired from this training, I feel competent and confident enough to aim for more senior managerial roles where I can have a significant influence.

In summary, pursuing an MBA has involved more than simply academics; it has also involved self-discovery and skill development. It has strengthened my will to pursue ongoing education and growth in the field of business management and equipped me for the chances and challenges that lay ahead in my career path.

Action Plan

My action plan for the future is focused on continuing my personal and professional development while implementing the knowledge I gained from the MBA programme.

First and foremost, I want to incorporate SWOT and PESTEL analyses—two frameworks for strategic decision-making—into my regular work procedures. This will support the development of thorough strategies for the expansion and sustainability of businesses, as well as the making of more informed, data-driven decisions.

I also intend to use my newfound understanding of organisational behaviour and management to improve teamwork and output in my present position. This entails deliberately striving to foster an environment that is more inclusive and collaborative at work, with a particular emphasis on fostering a culture that values innovation and ongoing progress (Jalinus et al., 2020).

In order to advance my career, I want to obtain specific qualifications in fields like data analytics and digital marketing that are complementary to what I learned during my MBA. These certificates will help me stay current with emerging business trends and practises in addition to expanding my skill set.

Participating in real-world activities is another essential component of my action plan. I am excited to take part in industry conferences, workshops, and networking events since I think these are essential for professional development and hands-on learning (Sarabipour, 2020). I also intend to look for mentorship programmes and perhaps take on consulting work, which will allow me to put my academic knowledge to use in the real world.

This action plan is made to make sure that I maintain improving as a professional, stay up to date with the always shifting business environment, and use my knowledge and abilities to further my career.
 

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References

Adeani, I. S., Febriani, R. B., & Syafryadin, S. (2020). Using GIBBS’reflective cycle in making reflections of literary analysis. Indonesian EFL Journal, 6(2), 139-148. https://doi.org/10.25134/ieflj.v6i2.3382 
Bai, X., Cheng, L., & Iris, Ç. (2022). Data-driven financial and operational risk management: Empirical evidence from the global tramp shipping industry. Transportation Research Part E: Logistics and Transportation Review, 158, 102617. https://doi.org/10.1016/j.tre.2022.102617 
Jalinus, N., Syahril, S., Nabawi, R. A., & Arbi, Y. (2020). How project-based learning and direct teaching models affect teamwork and welding skills among students. International Journal of Innovation, Creativity and Change., 11(11), 85-111. https://www.ijicc.net/images/Vol11Iss11/111110_Jalinus_2020_E_R.pdf 
Sarabipour, S. (2020). Virtual conferences raise standards for accessibility and interactions. Elife, 9, e62668. https://doi.org/10.7554/eLife.62668 
Srivastava, S., & D’Souza, D. (2021). Measuring strategic thinking in organizations. Editorial Policy, 33(1), 90-11. https://www.pittstate.edu/business/_files/documents/jmi/jmi-text-spring-2021-web.pdf#page=92 
Troisi, O., Maione, G., Grimaldi, M., & Loia, F. (2020). Growth hacking: Insights on data-driven decision-making from three firms. Industrial Marketing Management, 90, 538-557. https://doi.org/10.1016/j.indmarman.2019.08.005 
Viljoen, J., Blaauw, D., & Schenck, C. (2019). The opportunities and value-adding activities of buy-back centres in South Africa's recycling industry: A value chain analysis. Local Economy, 34(3), 294-315. https://doi.org/10.1177/0269094219851491