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MGT501 Business Environment

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MGT501_ Assessment 1 Part A _ Initial Statement of Intent Page 1 of 6 ASSESSMENT 1 BRIEF; Part A Subject Code and Title MGT501 Business Environment Assessment Part A: Initial Statement of Intent Individual/Group Individual Length 1000 words Learning Outcomes This assessments addresses the following Subject Learning Outcomes: a) Develop and apply a conceptual understanding of reflective practice in a business context. b) Critically evaluate economic principles and stakeholders viewpoints in business environments. Submission 12 Week Delivery: Due By 11:59pm AEST/AEDT Friday of Module 2.2 (week 4) Intensive Class: Due By 11:59pm AEST/AEDT Sunday of Module 2 (week 2) Weighting 25% Total Marks 25 marks Context: Self-reflection is a way of assessing yourself and the way you work and study. Refle

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Part A

Statement of Intent

Understanding of the event (What)

Business is considered an organized effort of individuals to sell and produce for a profit, the service, and goods that satisfy the needs of the society. In my opinion, with the help of business, an organization seeks to gain profit through individuals working towards common goals (Barnett, 2019). Business goals vary based on the type of business and other business strategies. Business regardless of the strategies needs to offer good, product and service to society, which will meet the requirements of the society in some way. According to me, the prime aim of business needs to be focused on satisfying societal need. Businesses need to consider the need, which they need to fulfill in order to plan business success strategically.

In the process of understanding the business process the institution have recently conducted a seminar, whereby I had participated and experienced vast knowledge on the business environment. In this context, the Dioscroll’s model aspects as,‘The What? So What? Now What?’ can help me in evaluating my recent experience of the seminar. The conducted event was a seminar. The aim of the seminar was to provide us with basic and important perspectives of business environment and economic principles.  At the event, economists and other business experts and entrepreneurs were present and they shared with us their

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