Question

Complete a minimum 4-paragraph essay reflecting on their experience within MNGT 3380. The essay should contain information regarding knowledge and competencies gained through classroom accomplishments and how this information will be beneficial to future career/life goals.

Answer 1

Over the past few weeks, I felt that the course have given me a lot of insight into the world of Business and Financial management overall. However, the following have been my key learning from the course:

• Customer Satisfaction: Customers are those party that contract with your business by paying money for the services or the products availed from the Company’s end. Customers have a very significant role to play in Business. They are the very reason responsible for the success of any Business. The Business is an activity undertaken with the motive of profit. This profit could be generated in various ways but primarily, by serving the customers in the best possible manner such that they are not only retained in the Business but are the carriers of the ‘Good image’ to all other potential customers to the Organization. Therefore, customers need to be carefully dealt with and maintained. I have learned that I have a good inclination towards serving the customers and taking them in utmost priority. Therefore , in the days ahead, if I am to do business, I need to highly be focused upon ‘customer satisfaction’.
• Business Ethics: Only socially responsible behavior can work towards building favorable public opinion. Hence lack of Business ethics shall mean that the Business does not regard the interest of its stakeholder’s thereby going out-of-control as it will cease to receive willing cooperation from them. When the Company fails to establish well-being for its stakeholders who are the integral part of any business, the survival of such company is certainly at stake and thus its Businesses. Therefore, for me, mere profits’ agenda could never be enough. It has to coupled with Business ethics. Undertaking unethical means of running the business shall make me suffer in the long run and hence I shall take this concept of Business ethics in high regards.
• Supply chain and Quality Control: One of the most significant way of retaining customers to the Businesses is through Supply chain channels. The Companies undertaking Businesses, need to maintain good relations not only with the customers but also with the Suppliers so that the demands of the customers are fulfilled on time. When customers are satisfied, they resort to the Company for a repeat purchase or helps enhancing the goodwill. Quality management in this regard is the most important concept to profitability and success in manufacturing. Tools pertaining to the same involve the concept of Total quality management such as Kaizen, Six Sigma, ISO 9000, etc. In addition, the technique of customer delight is also an added advantage. In this way customer and quality management are related. Better the quality, more the retentive power of the Businesses to maintain the Customers. Quality is also achieved through efficient Supply chain management.

With the above generic insight, I can keep my options open to various fields in the area of Business Management. I have been moreover fortunate to seek some benefits of the Simulation technique as well. I feel the Simulation technique certainly provides a better insight to the audience to what I have done because it is through simulation that the audience can put itself into our shoes and thereby relate to our performances in more efficient way. Simulation is the process of creating a similar scenario which can connect one with the real-life event upon a selected tangible or intangible variable. Therefore, mere understanding of the insights may not be always significant to the audience. Simulation shall help them empathy with us in a better way.

Keeping such learning in mind, in the challenging world of Corporate, my aim shall be to apply my theoretical learning into practical application. One can only get a broad idea about this world through these courses however, the implementation of the same shall differ from Organization to Organization, depending upon their course of businesses. I am hopeful my foundation is strong enough to help me blend with such businesses in an appropriate manner through the MNGT Course.