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Business Matters

Reflection

Introduction

With the help of this paper, I would like to address the key transformations that have changed my mind after the completion of this course. The paper will include the overview of the course expectations and their relation to the consequences of the course. Later, it will discuss the new perspectives regarding the business that have been gained together with the lessons learned and which are not relevant to the professional life. In total, it is a reflection paper with many unexpected turns.

The Expectations vs. Outcomes

The expectations regarding this course that I have nurtured for a long time have partially coincided with the content of the course. I did expect the strong academic program, inspiriting breakfasts with the leaders of the thoughts and business trainers, the challenging tasks, and the rewarding feeling coming after dealing with the study materials successfully. Nevertheless, I have to stress that few things turned out to be rather appealing for me. First, I realized that all of the issues that surrounded the business operations and transactions were of the critical importance for the overall performance and the sustainable development of the company. I have got this insight while sitting in the room. The CEO of the company or organization should necessarily be aware of all the key processes that are going on within the company and keep them under control while granting some freedom to their employees too. The line is thin; nevertheless, the chief should try not to cross it for any kind of reason.

 

More than that, I have understood the true value of these programs. Here, the professionals from the same area can exchange their problems and suggest the solution for the others. We played the role games and participated in the debates over the simulation projects; yet, everything was, in fact, real. We interacted and learned through that. There are many people who became my role models for the life, and I will definitely follow them in the future in order to try to become such professionals as they already are.

Therefore, I have to stress that this course also adds to the personal involvement of everyone and the ideas that they bring to the common table. Together, we experienced the success and failures, and these people showed time that the life is different; yet, what we all are trying to do is definitely worth doing and is actually quite rewarding in terms of the social capital.

The new Perspectives over Business Issues

The main lesson that I learned in regard to the business matters during this course is that everything changes: my capacities, the interests and the needs of the customers, the abilities of the competitors, the legal environment, etc. To stay afloat, we have to develop the strategic thinking abilities and make stress on the self-development and the development of our peers and employees. There have been many successful ventures that have been unable to change and, therefore, were forced to leave the arena for the better and more competitive players.

The competition today is strong, and the business should consider the ways for the increase of its competitive advantages. The latter serve as the bodyguards for the business in times of the market fluctuations and crisis. If the company has many competitive advantages, then its chances for survival are definitely increased.

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In addition, I have learned about the different perspectives on the leadership in regard to the human resources management. In particular, I became interested in the theory of the situational leadership that provides for he personalized treatment of every subordinate who works for the organization or the company. It divides the employees into several categories depending on their motivation and skills (Lynch et al. 2013). Based on that, the leaders are provided with the matrix within which they can act to increase the performance of their subordinates and raise the chances for success of the entire organization that raises the chances of its survival on the market. At the same time, having already worked on several projects I should also stress that there are the people who are not interested in the continuing of working on the projects in total. They might have the perfect skills and lack the motivation to perform the most routine tasks. These people have fallen out of the attention of the creators of this leadership approach, and I suggest that they have to consider them also.

I think that the leadership concept that suits me the best is the supportive or servant leadership. This model provides for the leader that helps others to grow. The concept has been developed recently and has not been researched much; yet, I consider the ideas of it to be sound and rather important within the working environment. This approach helps to create the extra competitive advantages which are the loyal workers of the company. More than that, this concept might be beneficial for the companies which struggle with the low retention rates. The human resources are the key resources for the company as they perform the daily operations and help the business grow and increase the profits on the ongoing basis.

Lessons Learned

The key insight, however, referred to the new methods of dealing with the business issues. In particular, I have realized the main role of the marketing in addressing the business issues. Before stepping into the course, I considered that the marketing involved the market research only and that it dealt mainly with the competitors rather than with the customers of the organization. However, as it turned out, the marketing strategy was at the heart of the organizational strategically planning (Benavides 2004). Moreover, it has to be stressed that the marketing can, in some cases, even precede the business idea. There are specific companies that carry out the market researches and define the areas that are currently not filled with the competitors or are underdeveloped. The marketing researches aiming at the customers might bring in the new ideas as to the development of the product. Frequently, the clients might need the simplified interface or the particular application that is not considered by the producer of the item (Moorman 2012). The market surveys might help to discover the new initiatives and product lines.

The Plans for the Study

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To be honest, this course turned out to be introductory for me, and I definitely plan to expend my knowledge in regard to certain matters. While the human resources management lies on the crossroads of my interests together with the marketing tricks, the finances are the tough matters that, for sure, need more attention on my part. Before this course, I considered that the CEOs of the companies were to be aware of the basics of every area in order to be able to control them or to suggest certain ideas as to their development and improvement. After this course, I understood that there were the "whales" that were to be known by every entrepreneur. Definitely, the finances fit this category since they play the role of the blood that energizes the business and can lead it to the end in case of shortage.

On the other hand, I will also try to get a certain course in regard to the legal matters since the legal requirements are often reviewed, and one should be aware of them in order to escape the responsibility and unnecessary penalties. More than that, the clear legal reputation is beneficial for the process of donors attracting as well as can help to market the company as the trustworthy and reliable one that will not fall under the pressure of the US judicial system.

The Plans for the Career

My plans as to the career development are not firm yet. However, I admit that I will definitely be engaged in the entrepreneur world and work over the development of the start-up in the field of electronics or online commerce. There are still many opportunities for developing this particular area. To sharpen my current skills and to learn the new ones I will apply for several internships that will also provide me with the opportunity to look behind into the world of practice matters, challenges, and risk management.

Conclusion

Reflecting on the variety of the experiences that have been gained during this course, I can say that I definitely recommend it to everyone who is willing to upgrade his or her skills, find the people who are of the same essence and who are driven by the similar interests. This program is the powerful place to start or continue ones academic journey with the purpose of rising ones personal effectiveness and output. This course inspires me to gain the new awards and goals as well as to look for the new horizons to conquer.

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