Studying business and economics at my undergraduate has been very helpful to me. It has helped me learn the different ways through which I can improve the business that I am involved in, I can also make decisions from an informed point of view rather than just making blind decisions. Furthermore, the skills gained can make me a better entrepreneur (Gary, 2009, p. 1). In terms of decision making, I have learnt on how to react during critical times and the knowledge and the ability to think critically, beyond the superficial (Process Management International, 2012, p.1). As such, rather than be part of the problem, I can be effective at coming up with a solution to deal with the issue at hand.
In terms of business strategy, I have come to understand that there are different strategies that can be applied in different types of businesses depending on the prevailing conditions and the possibilities of returns (Eliadis, 2011, p. 2). With the information I have gained, I can be helpful in coming up with strategies that can help the business in attaining the set goals and objectives. I am more competent not only as a business man but also as an entrepreneur. I can see opportunities and possibilities where others cannot. As such, I feel that I am set to take advantage of the opportunities.
I have also learnt that being successful in business means taking reasonable risks (Hritesh, 2012, p. 1). Therefore, I can assess a situation and make a move when there is the possibility of making returns. In other words, I have been given a new perspective with which to look at business.
Question 2
Taking this course at the University of East London has been quite enriching for my career through application. First of all, I have been working with my brother where I assist him in is business where he manages rental facilities. Through this, I have gained considerable experience in the real world of business. I intend to combine this experience with the skills I have gained during my studies as suggested by Cambridge University (2012, p. 2). As such, I intend to set up my own business portfolio where I can set up and manage my own apartments. After gaining the relevant experience and information I can effectively transfer what I have leant into real action; it is time to scale up. For instance, I can use the presentation skills to sell my proposal to funding agents. I can also use the same skills in marketing my business which will in winning and retaining customers.
One thing that I must do as I set up this business enterprise is the aspect of critical thinking and evaluation. As I already know that there are risks involved in this kind of business (Education Guardian, 2012 p.1) , I have to make sure that my entry is in such a manner that I won’t be disappointed. This is where I have to apply my critical thinking and evaluation skills so as to make sure that the venture I get into will be a rewarding one. The critical skills will help in making sure that I get into a profitable venture while the evaluation skills will help me in making the best business decisions. After all, the studies have transformed me from one who waits to see things get done to one who starts ventures and goes for what he wants (Sutcliff, 2012).
Bibliography
Education Guardian. 2012. Business and Management Studies. [Online] Available at [Accessed 15th Dec. 2012]
Eliadis, D. 2011. 5 Competencies of an Entrepreneur vs. Small Business Owner. [Online] Available at http://yoursmallbusinessgrowth.com/2011/11/5-competencies-of-an-entrepreneur-vs-small-business-owner/ [Accessed 15th Dec. 2012]
Gary. 2009. Why Every Business Owner Should Do the Thirty Day Challenge. [Online] Available at [Accessed 15th Dec. 2012]
Hritesh, D. 2012. 5 Important Ways for Developing Entrepreneurial Competencies. [Online] Available at [Accessed 15th Dec. 2012]
Process Management International. 2012. Business Improvement Strategy. [Online] Available at [Accessed 15th Dec. 2012]
Sutcliffe, J. 2012. Helping Students See Their Place in the Bigger Picture. [Online] Available at 15th Dec. 2012]
