Introduction
It sometimes seems complicated to understand various things, not until one takes time to focus on them and undergo them. Business strategy is one of the things that had never even crossed my mind. The Business field is a great thing that is one of a kind. On the other side, business strategy is one excellent course that gives an insight into the business world. The deeper one researches about it, the more it becomes interesting (Caramela, 2018). This paper reflects the theories taught in business strategy, and the in-class activities carried out by students, the online resources accessed during the course and the areas in need of improvement.
There are numerous theories taught in the course of business strategy. Mintzberg’s general theory of strategy is one of the most exciting theories. Under this theory, Henry Mintzberg, a Canadian management scientist, distinguished five organizational visions for strategy. Mintzberg named them the five P’s, and these include Plan, Ploy, Position, Pattern, and Perspective (Caramela, 2018). With these components, an organization can quickly develop and implement a beneficial and efficient strategy. One can learn numerous things from this theory. First, the theory recommends breaking down of responsibilities and roles in any business management to simplify tasks and complex concepts. As a result, companies can develop an efficient culture that enables every employee to develop his or her skills (Moore, 2011). One can also learn the appropriate way to apply the 5 P. This is because their application can help a company develop, evaluate, and implement a more effective and efficient strategy that can facilitate achievements of its set goals. As said by different people, the University is the appropriate place for someone to find him or herself. I believe that this statement is very authentic since this place is where several students discover what they are going to be in the future. Through exposing one to a higher depth level in the business world, one can quickly discover what he or she truly enjoys (Wolf & Floyd, 2013). In the previous years, I was part of numerous classes, including entrepreneur and accounting classes. However, I used not feel very lively. But in business strategy classes, I feel more like being in the real world of business.
For an individual in the position of manager at a workplace, there are several areas where he or she can apply this theory. First, he or she can apply the first P of strategy, that is to say, Plan to give clear instructions and directions to his or her subordinates towards achieving the set target (Kay, 2018). The manager to carefully analyze in advance the position the company can also use the position component and where it wants to want to be as far as market share is concerned. As a result, the company can achieve a strategic competitive advantage (Caramela, 2018).
During classroom sessions, one can participate in several activities. One of them is class discussions in which an individual gets a chance to engage with several students while discussing business-related topics (Benlulu, 2017). These discussions are often implemented by instructors and sometimes organized by classmates. Discussions are usually preferred to class lectures because they make one actively participate and focus on the topic being discussed. One can also gain extensive knowledge and understanding of specific topics that he or she could have failed to understand during classroom lectures (Weimer, 2011). This is because various students on the discussion topic raise different ideas and opinions. More so, I was able to improve my research and speaking skills through discussions. During each discussion, every group member is usually required to present his or her own perspective on a particular topic while explaining it verbally to other group members. Even though this requirement seems challenging to some students, it is actually liked by several others since a student can easily express him or herself before a small group of people than in the classroom where there is a large number of students (Top Hat, 2018). One can also participate in mock interview activities which are also often implemented by instructors individually to review every student’s job skills. Under this activity, instructors ask every student to develop his or her own questions for every candidate and then look for a class partner with whom he or she can practice with. Multiple students like this activity since it helps one gain more confidence and improve his or her conversational skills (Weimer, 2011). Researching has always been one of my strengths. I like reading more and more journals to explore the various ideas and opinions given by different professionals in the world. However, speaking out my ideas before the class is still one of the things I find challenging. I believe that developing more confidence will help me share ideas with my classmates and further be exposed to multiple opinions.
Throughout the course, there are multiple online resources, including journal articles and in-class videos, which are available for one to access. Considering business strategy, there are multiple online sources related to business and consisting of valid and reliable knowledge about the business world. International Journal of Business Strategy is one of the journals accessed and used by several students in business strategy. An individual can openly access the content of this journal with a mere typing of business strategy in the search engine. It comprises multiple research articles and studies, in which one can gain an extensive understanding of business with empirical evidence (Gnepa & Cordeiro, 2011). The journal examines the relationship that exists between market culture implementation, organization vision, efficiency, corporate profitability, and organizational success. It comprises numerous hypotheses with each of them discussing important topics in the business world. While reading this journal, there are several vital business concepts one can learn. Among them, include operational innovation efficiency, corporate profitability, organizational success, and so many others (Gnepa & Cordeiro, 2011).
One can find it uneasy to identify the gaps contained in his or her knowledge as a business major, especially after reading a lot of textbooks and doing a lot of research. However much one feels that he or she has enough knowledge and business analysis skills to strive in the business world it is essential for him or her to further prepare for it since it keeps on changing (Kenny, 2012). I find it useful for one to regularly identify new journals related to the business field since these sources consist of very reliable and valid information.
Becoming an effective strategic leader requires one to be excellent in numerous crucial areas. Although some leaders consider themselves practical and strategic even when they lack some qualities, a leader needs to identify his or her weaknesses and make improvements were necessary (Yan, 2019). Several areas one would like to improve after identifying his weakness to become an effective and strategic leader. Primarily, confidence is an essential quality of an effective leader. Even after gaining some confidence, it is essential for one to continuously improve it by practicing with a large group of people (Livingston, 2015). Teamwork skills are also another area, which a strategic leader should continuously focus on. In any form of leadership, whether at school or places of work, teamwork is a vital factor that can enhance the progress of the activity towards achieving set goals. I have been part of numerous teams both in the classroom and outside the class. One time, I was elected as the team leader, but I wasn’t sure whether I performed my role excellently. This is because the team managed to achieve some of the goals of the project but failed to achieve a few. I was not sure whether the reason behind this was the way I played my role or the way other people participated. Therefore, improving teamwork skills can make one a better leader and can contribute to the success of his or her career. Additionally, feedback from instructors can also help one spot area in need of improvement based on the comments given hence improving weak areas (Schooley, 2019).
Conclusion
Business strategy courses are some of the most exciting and inspirational courses that equip an individual with practical knowledge in the field of business. Throughout the course, there are several concepts and theories an individual can learn which can help him or her not only in class performance but also in the real business world. There is a variety of business journals with numerous studies consisting of empirical evidence and valid information. This dramatically helps students in various courses to access more information beyond the one provided by their instructors. In the end, this expands their understanding of the course. More so, it is significant to note the role played by class discussions in improving confidence among students. I believe that if one improves his or her weak areas, he or she can become a successful businessperson and leader.
References
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