Reflective Report and Activity Journal

For emerging entrepreneurs and business leaders, a business management degree is a popular choice. It
provides educational knowledge and skills to pursue global job opportunities and helps you develop a
broader understanding of businesses and specific areas such as finance and human resources.

Going through the MBA program, I couldn’t see myself growing every day but when I look back on it
now, it can be seen how much I have changed. I can see significant improvements in my leadership skills,
emotional intelligence, and cultural awareness, as well as the development of my knowledge of
contextual business ideas.

As I stepped out of my comfort zone, I began to see that failure is part of life that helps enrich the
progress you can make. Therefore, do not blame yourself for your failures, but let them encourage you.
Give them a purpose.

“With the MBA program, I could not see myself growing every day. But now, when I look back, I realize
how much I have changed. ”

The highlight of my year was working with a group of my classmates on the challenge of developing our
business vision. My team and I created a business model that used real estate to help homeless people
in post-disaster areas, while also creating community development programs to help contribute to this
poverty cycle.

Hotel management and study programs should provide students with solid lessons while exposing them
to many practical learning opportunities; such a balanced educational experience will prepare today's
students to become future managers. Hospitality programs often provide unique lessons and student
experiences. A few recent studies examined the similarities and differences between the programs and
are presented below. In addition, the ideas and opinions of industry (managers), as well as those of
educational institutions (managers and academics) are explored.

One of the highlights of studying business management qualifications is key management skills that will
allow you to become an important asset to any organization. It will build on the ability to deal with
current and current business and community development, giving you the ability to make informed
management decisions that take into account ethical, economic and social implications. Some of these
key business management skills include:

• critical and strategic thinking

• communication

• problem solving

• organization
• introduction

• reporting

• leadership

• Project management.

By researching the work to be done we collect information from external and internal sources. Some of
these will be publicly available and easy to find. But that information may contain insufficient
information to be used extensively. Remarkably, in large public companies. Generally, as part of our
research we will conduct interviews with people who work with the organization in the middle of our
inquiries. Also, caution should be exercised when dealing with those people and the information they
provide.

Business management qualifications will help you gain in-depth knowledge and understanding of key
aspects of business and management - and it is a great introduction to the business world if you do not
have prior knowledge. It provides industry information, such as market styles and industry reports,
which can be useful and you will be encouraged to apply educational theory in real business situations
that will help you get started in your career once you are done.

For both small and large businesses, managing a successful business is difficult. One of the most
important skills required is the ability to explore a competitive environment. Entrepreneurs and
managers need to understand the competitive nature of the business.

There are several ways to analyze the market and business environment. SWOT analysis is a widely used
tool. Applying Porter's Five Forces analysis is also a good option.

Porter's Five Forces tool is a very powerful tool. It's simple but very good at judging exactly where the
power is. As it helps to understand not only the power of the current competitive position but also the
power of the expected position, it is very helpful.

It is an important part of your planning process. Once you have a proper understanding of where energy
lies, you can use company power. You can also improve your company's weaknesses. After all, you can't
take wrong actions.

A tool is often used to determine if new products or services will be profitable. It is also helpful to
understand the balance of power.

The analysis looks at 5 key factors that affect business competitiveness. The five different powers are:

• Supplier capacity

• Consumer capacity

• Competitive competition
• Threat of change

• New entry threats

Supplier capacity is the ability of retailers to increase the value of your included items. Consumer
capacity refers to lowering of customer capacity. Competitive competition is a competitive force. The
threat of change is the extent to which different products and services can be used in lieu of your offer.
The threat of new entry is how new competitors can easily enter the market.

Analysis involves considering how each of these forces affects your business. You are expected to
identify the strength of each army. By doing so, you can quickly assess the strength of your business
position. Analyze and increase your chances of making more profit in the industry.

After testing the power, you should find ways to touch the power. Remember that your goal is to move
the energy balance in your favor.

SWOT is one of the most widely used business tools. Both analytics can reveal the strengths and
weaknesses of your business. However, there is a big difference. The level of clarity, competition and
timing are the differences.

SWOT can be described a more general and overall assessment. Typically, the Five Forces model focuses
on a single growth decision. SWOT is often used to get a picture of firm’s current position. After
conducting the SWOT analysis, you can consider future strategic options. Five Forces assesses the
viability of a specific product or service.

SWOT focuses on your business and its position while you can use Five Forces to analyze competitors.
Porter’s Five Forces helps find out how competitors could inhibit you. Time orientation is another factor
which differentiates SWOT and the Five Forces model. SWOT primarily assesses your current position
and the future endeavors. On the other hand, Porter’s Five Forces analysis focuses mostly on future
decisions of your company.

Conclusion:

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