MGT501 Implications of Environmental Uncertainty Assignment Sample

• Subject Code : MGT501
• University : Laureate International Universities My Assignment Services is not sponsored or endorsed by this college or university.
• Subject Name : Management

Business Environment

According to me, business is an organization or entity that incorporates several activities including commercial, professional, and industrial activities for making profits and providing valuable products and services. Moreover, it exists and operates with the help of various social groups like customers, suppliers, competitors, government, media, financial institutions, etc. To me, business is an opportunity for individuals to learn from both success and failures, and encourage them to analyzing several other factors that are necessary to operate a business. I had established a small startup 4 years back with Vidyapeeth as its name. Now, I am currently serving as the CEO of the Vidyapeeth organization.

Vidyapeeth was founded in 2016 to provide educational and academic solutions to the aspirants. It is a comprehensive search engine for all the aspirants, parents, and the education enterprises who are seeking guidance for higher education in both abroad and India. I started with this Edutech industry because I had a keen interest in writing content and from graduation days only my main motive was to cater to the students. My main purpose was to provide a single platform to the aspirants for their search of both colleges and courses worldwide. I chose this course of business out of interest moreover it was in line with my qualification skills. I had 6 years of experience in academic content writing with different organizations. I had completed my post-graduation in Master of Business Administration (MBA) with Marketing as a major subject. Marketing is a broad concept and content writing is just a part of it. In post-graduation, I learned all the marketing strategies required for business operations. Besides my educational qualifications, I took a great working experience which helped me in learning other digital and content marketing skills. With that working experience, I learned a lot of skills and strategies like adaptability, research, originality, editing, search engine optimization, knowledge of social media, and others. I also learned several content marketing tactics like how to segment the audience to increase more engagement on the website, provide consistency, usage of native ads. Besides these, I also practised some basic and obvious content marketing strategies like incorporating great visuals, well-framed content, and other sharing techniques. My educational qualifications and the aligned years of work experience prepared me well for this course and built my interest in a similar domain. Furthermore, all these skills and learning’s helped me in establishing a well-versed business model.

I will use a handful of tricks to ensure effective and efficient business outcomes. For every one of the learning units that I was presented to, my planning will offer an outline of the skills required, the themes to be talked about, and the exercises to be performed. To test those learning objectives that whether I have used them efficiently or not I will set some unambiguous criteria in the forms of questionnaires and feedback forms to be filled by the employees. This will help me identify the key areas where m lacking and where I need to put on more efforts. These activities will not only help me to improve but will also help in ensuring whatever I have learned in the course study is effective or not. Moreover, to ensure that my business met all the required outcomes I will set some specific objectives and will develop an action plan to achieve them. Then for every specific objective, I will create a step-by-step action plan to reach those objectives. Besides that, to track the results, I will ensure an effective track plan that will comprise the end date when the business outcomes need to be evaluated. What's useful for the organization is useful for representatives, however, on the off chance that gathering an objective places additional incentive into a person's pocket, my key staff will be more inspired to get and remain engaged with helping me meet the company goals. I will create a reward framework that rewards labourers who assist the company with arriving at its objective. Furthermore, to seek guidance I will hire area experts too who can help me in developing the tactics for achieving the organizational goals.

To manage and monitor my business studies and evaluation to derive a successful cessation, I can follow the live monitoring systems and techniques. This will help in running performance and optimization testing to find out the aspects where we are underperforming. This will help my organization to track daily coverage. I will incorporate analytical tools to automate business performance tracking. I will also create an effective review and feedback system to attain feedback from the employees and customers, and to determine the weakest factors which we need to improve. Besides that, to monitor and ensure employee’s performance, I will conduct required meetings with the employees to measure employee performance and align their appraisals and rewards accordingly. I will also conduct market research to compare our performances with the competitors. According to Padukkage, Hooper, and Toland (2016), Uncertainty builds the troubles in understanding the earth and places supervisors in a provoking circumstance concerning vital dynamics. Concerning my business activities, I will keep a proper track of all the business lacks and mistakes of the past and will try to avoid them in the future. As the business environment is unpredictable, therefore, my past business evaluation learning will help me to avoid the similar mistakes we have done in past. Several internal and external environmental factors would affect business performance. So I will try to balance both factors effectively by keeping a track of both employees and the threats to the company’s environment from the outside environment.

I have a few goals that I would like to set for myself concerning my business plan like maintaining the healthy financial status of the company, looking into professional and personal growth requirements of the employees, maintain a position among the top 10 companies in a similar business domain, providing benefits and job security to the employees, achieving business goals effectively, and diminishing the operating costs of the business.

References for Implications of Environmental Uncertainty

Padukkage, A., Hooper, V., & Toland, J. (2016). Implications of environmental uncertainty for business-IT alignment: A comparative study of SMEs and large organizations. arXiv preprint arXiv:1606.00744.

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