Individual Learning Process Sample Paper.
The process of learning is one that is characterized by internalization of numerous theories and facts that may at times be confusing and challenging. Students and learners often have a tough time trying to evaluate whether they have entirely grasped the facts of a given course, module or subject. Course reflections are one valuable way of ascertaining whether a given course has been of instrumental help and the benefits it brought. It is through these
reflections that an individual can be able to gauge the level of understanding of a concept or
theoretical book. Further, reflections that are done on a personal basis are able to reinforce what
has been taught in class with an individualized experience. The documentation of personal
reflections allows individuals to organize their thoughts methodically as they also benefit from
practical exposure. This paper is a personal reflection essay that discusses my personal insights
when it comes to my development as a strategist and strategic management.
Task for the Essay
Prepare a reflective essay that demonstrates a significant personal insight on your
development as a strategist. Ensure that the essay includes and shows an active engagement in
both theory and personal experience with regards to how strategic management has changed the way you think or act. Include any plans that you may have to build on this topic in the future.
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Body of the Essay
The reading and learning of any particular course or module is supposed to increase and
enhance the student’s understanding of the major theories and facts. The same case has been true
for the study of this course where I have been able to learn many things with regards to strategic
management. The fact that I am a business student has made it significantly easier to reflect on the many positive aspects and attributes of being a strategist. To begin with, this course has
taught me that it is very essential for a person to evaluate major factors in an industry before they
embark on any entrepreneurial venture. One of these factors is being aware of the secrets of
prosperity and growth in a business (Krstevski and Mancheski, 2016).
The course made it clear that there is a recipe that must be followed so that a firm can be
able to enjoy immense profits while at the same time maintain a high level of customers. Part of
this recipe requires the managerial team to be competent such that they can know the right
approach to use when marketing their products or even mitigating risks and avoidable threats in
their line of business (Villan et al, 2016). Additionally, I have learnt that being a strategist means
that one should have a clear cut approach when it comes to executing of functions in a private or
public corporation. This is very essential when it comes to ensuring that employees are aware of
what the company expects of them (Ezzi and Jarboui, 2016).
This line of thought has been very useful as it has prepared me mentally when it comes to
matters of handling employee relations depending on the industry that I choose to work. This
means that in the event that I decide to venture in the service industry, then strategic
management will come in handy when it comes to deciding which policies to adopt in matters of
employee selection and subsequent recruitment. Further, the discipline of strategic management
has greatly improved my understanding when it comes to matters of business and
entrepreneurship. For instance, I have learnt that an effective strategist is one that is able to
identify a viable business opportunity and exploit maximally such that they reap a high level of
returns.
Moreover, I have also come to understand that business can only remain profitable if a
person’s endeavors are strategic enough such that they can identify the right target market before embarking on their operations. Strategic management is a valuable discipline in the field of
commerce that helps people to learn how they should relate with customers, how to convince
them into buying a particular item and also how to handle criticism from them (Kovalenko, 2016).
I have come to understand that this lesson is a valuable one as it enables any strategist to
have the ability to develop a critical mindset that comes in handy when understanding customers
and their needs. In addition, I have learnt that being an effective strategist means that one should
appreciate the role played by market opportunities and how they are affected by other factors
such as the available financial resources, globalization and even competition in place. This
means that even if there is an untapped market within a given geographical region, it may not be
feasible for an organization to establish a business there if they do not have enough resources or
they do not understand the needs of their customers very well (Lugar et al, 2014).
Strategic management also intermarries with other academic disciplines such as critical
thinking and entrepreneurship, which makes it double up as a vital business tool that can assist a
company or firm to overcome threats and challenges in any industry. At the same time, I have
come to appreciate the role played management when it comes to knowing how gaining
competitive advantage is very important for business since it enables a firm to set a high
benchmark that in turn raises the level of profitability.
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I can relate some of these lessons to my own personal experience when I observe how
reputable firms have managed to remain relevant even in the wake of increasing competition. It
is through effective strategic management that renowned brands such as Intel, Apple, Starbucks
and even Walmart have succeeded greatly in retaining their customer base and subsequently
increasing their earnings (Lampikoski et al, 2014). Further, I have also understood that being innovative and creative when it comes to business is very critical to its survival. A large number of companies have become aware that constantly changing their brands and goods to suit the needs and expectations is very important to remaining relevant in business (Massis et al, 2016).
As a strategist, it is expected that I should be able to evaluate a number of options and
decide which one among them is the most suitable depending on the situation. This is vital
because an analysis into the majority of companies that have been established across the globe
shows that most of them have been launched after mimicking those that already exist (Villan etal, 2016). The dangers of such a decision is the fact that these businesses end up failing since
they do not understand the intricacies of what makes one venture so successful while another
failures miserably (Bereznoi, 2014). Hence, innovation and strategic management go hand in
hand and they form the perfect combination when it comes to ensuring that a business profits
today and also survives the stormy and uncertain world of tomorrow.
The heightened importance of these two elements and business tools can be seen through
numerous firms that started up as noble companies, rose over the years to become giants in the
industry then slowly declined and were eventually forgotten Lampikoski et al, 2014). It is also
through this course module that I have learnt that being a good strategist can only be made
possible if a person works on their leadership skills. It is through the latter that an individual can
be able to create, establish and maintain sufficient momentum within an organization and ensure
its upward growth (Villan et al, 2016). What’s more, capacity of any person having great
leadership skills is considered a valuable trait where a person is able to inspire others to become successful and admirable individuals in society.
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It is the combination of being strategic and being a good leader that a person can redefine
the goals of the company and also structure them such that they are able to increase the chances of remaining profitable. I have been able to prove this observation both in theory and practice
where people who understood the principals of strategic management and fused them with their
leadership skills enjoyed an excellent and remarkable result when it came to performance and
productivity (Villan et al, 2016). I have also encountered the same when I volunteered to work at
some companies so that I could gain hands on experience.
The organizations that clearly understood the role of strategic management where able to
handle their employees effectively and at the same time yielded high returns when it came to
selling their products and services (Kovalenko, 2016). It is obviously clear that being an effective
and competent strategist entails the combination of a number of factors and this course module
has equipped me with the right concepts that enable me to become successful in strategic management.
In a recap, the process of personal reflection on strategic management has enabled me to
determine the critical elements of this topic as well as its importance. It is also through this
reflection that I have gained a lot of insights on how to improve my career. I believe that I am
now better placed to become a good strategist who can not only identify a viable business opportunity, but also one who can devise the right approach on how to exploit and capitalize on it.
References
Bereznoi, A. (2014). Business Model Innovation In Corporate Competitive Strategy. Problems
Of Economic Transition, 57(8), 14-33. Doi:10.1080/10611991.2014.1042313
Ezzi, F., & Jarboui, A. (2016). Does Innovation Strategy Affect Financial, Social And
Environmental Performance?. Journal Of Economics, Finance & Administrative
Science, 21(40), 14-24. Doi:10.1016/J.Jefas.2016.03.001
Kovalenko, O. V. (2016). The Methodological Approach To The Realization Of Innovative
Business Strategies. Economy Of Aic, (1), 99-104.
Krstevski, D., & Mancheski, G. (2016). SMEs Open Innovation and Strategic Management:
Strategy Map For Innovation Driven Company. Economic Development / Ekonomiski Razvoj, 18(1/2), 195-210.
Lampikoski, T., Westerlund, M., Rajala, R., & Möller, K. (2014). Value-Creation For strategic
management. California Management Review, 57(1), 8-11.Doi:10.1525/Cmr.2014.57.1.88
Lugar-Brettin, S. R., & Zazueta, J. (2014). Incorporating Strategy And Business Model
Innovation Into A Capstone Course Using A Shared Services Center Case
Approach. Business Education Innovation Journal, 6(2), 62-65.
Massis, A., Frattini, F., Kotlar, J., Petruzzelli, A. M., & Wright, M. (2016). Innovation Through
Tradition: Lessons From Innovative Family Businesses And Directions For Future
Research. Academy Of Management Perspectives, 30(1), 93-116.
Doi:10.5465/Amp.2015.0017
Villan, W. J., Da Silva, S. B., & Oliveira Camilo, S. P. (2016). The Scientific Production
Exploring Innovation As Competitive Strategy in Management. Business Management Dynamics, 5(9), 33-47.