business environment

08/04/20, 10)24 PMLaureate International Universities

Page 1 of 2https://laureate-au.blackboard.com/bbcswebdav/pid-8521144-dt-c…A%20Revision/MGT501/4.%20Web%20Content/module%2001/index.html

MODULE 1MODULE 1

Contemporary Business Practice

Summary of Module Content:

The purpose of this first module has been to introduce the concepts of

reflective business practice, business structure, and government

regulation of business. The initial readings and learning activities are

designed to create awareness about how different types of business

organisations can be classified and how reflection improves managers’

performance.

The first topic focused on reflective business practice and three different

models of reflection, which can all be applied in both personal and

professional development. For managers to be effective, they must stay

agile and understand the role of self-evaluation and continuous learning.

The second topic defined business as a concept and offered different

ways of categorising organisations. It also pointed out that the vast

majority of businesses in Australia are small but have a significant

impact on the economy as well as on the employment rate. The module

finished with an overview on the regulation of business activities using

Australia as an example.

08/04/20, 10)24 PMLaureate International Universities

Page 2 of 2https://laureate-au.blackboard.com/bbcswebdav/pid-8521144-dt-c…A%20Revision/MGT501/4.%20Web%20Content/module%2001/index.html