management homework help

Running Head: REFLECTIVE ESSAY 1

REFLECTIVE ESSAY 6

Reflective essay

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Reflective essay

It is while and I will out to the corporate world. I intend to join my uncle’s enterprise as I prepare to start my enterprise in the next five years. I thought I had financial intellect until I began my finance classes. Everything seemed okay then. I thought I would manage the finances of the biggest company in the world and emerge successful.

I have overtime amassed so much knowledge and understanding. This has been possible the lecture and other academic activities that I have engaged in. The exams I have been writing have not been easy. I would get excited, nervous and curious as I wrote my papers within the semester and at the end of it. The feeling would escalate when I went to check my grades. The fear of failure always made me read harder and smarter; thankfully, I have never received a failing grade.

It was quite challenging to make decisions on eating, studying, time management, socializing and health matters when I first joined campus. This was made worse by status as an international student. This to me was a major transition. I was responsible of my actions and choices. I had to learn juggling and flexibility. It was of great importance that I balance my freedom with the needs at home, freedom and my responsibilities as well as my studies and social life. Worse still, I had to pay so much fees since I was an international student.

Knowledge in finance is critical in managing fiancés in an organization effectively, wealth creation as well as increasing the value of an organization. This has been facilitated by the topics we studied in the course. These topics include planning, raising finances, making wise investments and controlling finances. This knowledge has highly shaped my desire in venturing in corporate finance.

In our contemporary society, business leaders are looking for a well-rounded finance student and one who is well-skilled in matters finance.

Moreover, the course has impacted additional skills like communication, critical decision making, strategic and quantitative skills. This was possible by the fact the course offers quality services that are outside the traditional curriculum.

The value of a finance course

The value of a career in finance cannot be underestimated. The profession is not about to expire any soon. As long as money navigates the world, a finance graduate will be highly valuable. The world needs the finance professional. Any industry can hire a finance professional. This tells you the value of this course.

During our study, the lectures used a real-life approach. The subject becomes highly practical. This was beneficial has it stimulated real-life opportunities to managing business and people within and without the business environs.

Future prospect

As a plan for the future, the course has highly helped me realize how to manage the finances, both at an individual and an organizational level. In addition, it has helped me acquire the skills that are needed as a financial controller and manager. Experience is the best for a person to learn from. And finance has given me the best experience of my stay in the college. I intend to set up my own enterprise in the future. Through the vast knowledge gained in the course, I think will be able to the meet the financial needs of my company and come up with the best enterprise model that will benefit the community through its services.

It is worth pointing out that team work has been an awesome experience. These experiences will be critical as I work with different people as I venture in my future business. Thus, I congratulate myself for opting for this course as whatever aspect I have engaged as i pursued the course as been a life time experience. I thank my fellow course mates and my lectures for making my experience amazing.

A strategic plan for my business

Strengths

· The research and development are almost complete

· Foundation for a strong management team has been established.

· Initial product can transform to a number of offerings

· Target customers have been identified

· Dedicated staff

Weakness

· Board of management is too narrow

· Over dependent on borrowing

· Lack of awareness amongst targeted buyers

· Lack of marketing expertise

· Technological advancements likely to shift the market

Opportunities

· Target market segment likely to grow.

· Available export markets

· Distribution channels seeking novice products

Threats

· Technological advancements may make products old-fashioned.

· Instability of the Yuan against the dollar

· Market likely to become price sensitive

Vision

My business (Chin Technologies) will operate 150 sq. unit in Beijing; China’s capital city. There will be 5000$ annually and be profitable. The firm will employ a hundred personnel mainly engaging in Research and development, support and marketing activities. Chin Technologies will offers 20 core products. Moreover, we offer value-added services to a wide client base throughout the China market segment and other oversee countries. The firm will offer services that are technically advanced as well vast as clear cut advantages and improvements over any possible services that can be offered by our competitors. Chin Technologies will pursue expansions via organic growth and acquisitions in the markets that are related to what we offer.

Mission statement

Chin Technologies build and market advanced systems for specified capturing of data and transactions processing management. The web-based structures work with specialized hardware combined by major integrators. These are sold to small, medium-sized and large enterprise. Chin Technologies are differentiated from their competitors by their sophisticated interfaces, expansively patented and easiness of modification.

Corporate values

· Chin Technologies functions in line with the highest standards while relating with clients, suppliers, society and environs

· Chin Technologies promotes a climate which encourages modernism and meticulousness amongst employees and rewards consequently.

Business Objectives

· Expanding the enterprise aggressively by offering returns that are beyond average.

· To be the leading, innovation enterprise within the market which we operate in.

Key strategies

Chin technologies will pursue the following critical strategies

· Improve launches of the system by strengthening research and development staff.

· Expanding senior managers

· Recruit non-executive directors

· Search fresh market segments

· Begin participating in trade shows and missions

Major goals

· The Chin technologies will be attained after three years

· Achieve sale of 50 Million by 2025

· Employ 100 people including twenty technically qualified by 2025

· Be the biggest system supplier in china by 2025.

Strategic Action programs

Chin Technologies will embrace the following strategic action programs:

· The entire staff will build and put into practice plans in eth entry to the market and development

· The Board of Management will establish an independent financial, technical and industrial personnel

· The CEO will prepare extensively business plans and establish contacts to better vision achievement in six months

Part 2

Despite the challenges experienced in the University, I have acquired a lot of knowledge can is useful in working in the corporate world.

Swot analysis

Strengths

· The research and development are almost complete

· Foundation for an strong management team has been established.

· Initial product can transform to a number of offerings

· Target customers have been identified

· Dedicated staff

Weakness

· Board of management is too narrow

· Over dependent on borrowing

· Lack of awareness amongst targeted buyers

· Lack of marketing expertise

· Technological advancements likely to shift the market

Opportunities

· Target market segment likely to grow.

· Available export markets

· Distribution channels seeking novice products

Threats

· Technological advancements may make products old-fashioned.

· Instability of the Chinese currency against the dollar

· Market likely to become price sensitive

STEEP analysis

Social

· Predictable demographics

· Consumers buying patterns that are favourable

· Accessible fashions and role models

· Major events and influences

· Good ethical issues

· Affordable advertising and publicity

Technological

· Funding researches

· Competing technological developments

· Dependent technology

· Innovation potential

· Intellectual property issues

Political

· Stable environmental matters

· Favourable prospective legislation

· Favourable regulatory processes

· Strong international pressure grouping

· Good commerce policies

Economic

· Suitable home economy situations and trends

· Good overseas economies and patterns

· Predictable market and trade cycles

· Conducive particular industry factors

Competitor’s analysis

Strengths

· Strong financial base

· Adequate staff

· Varied products

· Narrow Strategic position

Weaknesses

· High prices

· Disloyal customers

· Small market share

· Low brand recognition