Reflective Report on Entrepreneurship and Business Management. Info: words (13 pages) Essay Published: 1st Jan in Business Reference this Business Ethics is very important inside the company, it will show the moral standards that a company or business have whether it is right or wrong and good or bad. Every etiquette that a business has, will reflect on what kind of company or business you are Sample Business and Economics reflective essay Sample Business and Economics reflective essay. Also, this reference is inappropriate in an academic context. You should have at least consulted economics, business management or financial textbooks or a reliable subject specific dictionary/encyclopedia. Lecturer's comments
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View our latest COVID updates. Click again to hide the comment. Then complete the activities that follow. Use the knowledge you have accrued in this unit to write a reflective essay on the following topic:. What, in your opinion, is the importance of disequilibrium and how would the knowledge you have gained about disequilibrium and other key concepts in this unit help you in your career as an entrepreneur?
Disequilibrium is a concept I was unfamiliar with until I studied the ECF Entrepreneurship and Economics unit at Monash University. This can be a short-term byproduct of a change in variable factors or a result of long-term structural imbalances. Lecturer's comment 2: While it is a good reflective essay business management to include a definition, this sounds a great deal like something that has been borrowed directly from a source that has not been identified according to the reflective essay business management conventions.
Where is the APA in-text citation? As my career goal is to become a successful entrepreneur in the technology field, combining my passions for money-making innovation and technology, I soon learned that an understanding of the disequilibrium concept would be key to my future career.
Lecturer's comment 3: A statement indicating your purpose for writing and the structure you intend to use to achieve the task's aims is needed here. Throughout the lectures, tutorials and required reading for ECF I learned about the basics of economic theory in relation to entrepreneurship, and found that reflective essay business management were several of these concepts I could utilise specifically in my mission to begin a career developing financial self-management applications.
While knowledge and understanding of scarcity, elasticity, monopolies and competition, and externalities and public goods Lecturer's comment 4: Yes, these are all covered in the unit and I know they are relevant. However, you do not explain their relevance briefly to your future career as the topic requires and in doing so, prove your understanding.
will be of great use when I embark on my entrepreneurial career, reflective essay business management, it is disequilibrium that is the key concept of relevance for me. The main reason for this is because of a gap I perceive in the market. As more and more people move from subsistence or low-income status into a self-sustained middle class economic status, a larger percentage of the Australian population will need to manage their more substantial finances themselves.
A useful analogy is that of the decline in the success of travel agency businesses over the past decade, reflective essay business management. As more and more online travel and tourism providers enable the average consumer to research and book flights and accommodation themselves, the need for experts with access to airlines and hotel booking systems has diminished.
In much the same way, people wishing to manage their own financial affairs will perceive the need for experts charging high rates for their expertise to manage their finances as reflective essay business management necessary. This can only happen, however, if an easy and cheap alternative is available - hence my financial self-management apps exploit the disequilibrium in the market.
Lecturer's comment 5: Your analogy is insightful. However, your focus when explaining the importance of disequilibrium seems to lie entirely on one aspect only - a gap in the market. If disequilibrium is the key to your future, as you wrote in the first paragraph, surely it covers more than this It motivated me to pay full attention to learning as much as I could in ECF - a case of intrinsic motivation. While some of the unit content was not directly relevant to my personal goals, it still made me more knowledgeable about economics in general and entrepreneurship in particular.
This will all enable me to run my company with expertise and a sound understanding of theory and how it might apply in practice. My employees will respect my choices and decisions because of my learning and related business acumen. Disequilibrium seems to posit that there is a situation perhaps even the norm where the market is in balance, with supply more or less equalling demand, reflective essay business management.
With constant developments in technology, volatile worldwide markets and innumerable other factors affecting consumers, this seems to lack a basis in reality. Aspects of it do apply, reflective essay business management, though, so it is not without benefit.
Lecturer's comment 6: Robert Triffinone of the first economists to directly discuss how disequilibrium affects markets, has some interesting and relevant thoughts about this phenomenon. My point is that the lack of support from the literature weakens your assignment. Also, this paragraph starts out discussing how you felt, through to how it will help you at work and then into a critique of disequilibrium.
One main idea per paragraph please! Disequilibrium is the key concept that I can exploit my knowledge of in order to begin a successful entrepreneurial career, reflective essay business management. I expect other start-ups to quickly follow my lead when I begin to build my business developing financial self-management apps, so I will need a sound business plan, reliable and trusted employees and clearly established legal rights to my intellectual property.
This is very exciting! Lecturer's comment 7: Your excitement is infectious but the previous two sentences do not seem relevant to the task on which you are being assessed. Try to maintain focus on the central idea of this paragraph: the importance of disequilibrium as a concept in your future entrepreneurial career. When revising your assignments, editing out off-topic sentences such as these can build the cohesion of your writing.
Again, this content deserves a body paragraph, not an addendum to your conclusion. The imbalance between demand in the market and supply means I have a ready-made target clientele and a short pathway to expansion and success.
Scarcity means unlimited human wants can never be fulfilled by the market, which is something I believe my company will be able to exploit. Public goods like the financial advice the Australian Government and ATO provide to the general public has some minor relevance to my entrepreneurial venture, as it can be seen as competition with the advantage of being at no cost to the consumer. However, the externality of this public good also applies to my future business, as the result of both will be financial success for the consumer.
Reflective essay business management benefits society by increasing government income through taxation of higher incomes, leading to better infrastructure and federal economic and banking security. Lecturer's comment 8: The ideas about taxation, reflective essay business management, banking security, public goods, etc. are expressed too simplistically. Where is the depth of understanding of these concepts as discussed in lectures and required reading?
Families which benefit from financial advice from the government and my apps will have better educated children who are more likely to be successful and less of a burden on the economic system. A better world is the result. Lecturer's comment 9: If this is your conclusion it really lacks clear structure and purpose.
You discuss two of the four economic concepts you identified earlier as relevant to your plans why only two? This is not recommended for conclusions - that is not their purpose. Finally, your view on how your venture will contribute to society is Utopian and naive.
I think a reality check is needed. You make a promising start, but the more you write, the less evidence there is of a planned piece of reflective writing. The task requires two main things: 1 your view on the importance of disequilibrium and 2 an explanation of how key concepts from the unit will assist in your career as an entrepreneur.
For the former, reflective essay business management, you lack a thorough explanation of the concept and its various facets, instead latching onto one aspect only: market gaps. For the latter, reflective essay business management, you mention relevant concepts early but do not explain their relevance I know it but am looking for a demonstration of your understanding.
Finally, your conclusion seems to be a collection of afterthoughts and ideas that came to you while you wrote. As is the case with any assessment task, I am looking for evidence you have learned something from the lectures, tutes and required reading. The lack of any in-text citations and references is an indication that the concepts we learned about during the semester have not been incorporated or discussed to the expected extent.
For a minimum word essay you needed to consult at least 5 high-quality, rigorous academic sources, e. peer-reviewed academic journal articles, books from academic publishers, not merely one source reflective essay business management non-academic online definition of disequilibrium. A reflective essay deviates from typical academic writing because it invites you to use your own experiences and perceptions as evidence. However, this reflective task still requires you to select and interpret evidence according to academic standards.
You should have cited secondary sources of adequate scholarly quality and of sufficient number to support your ideas. Engaging with academic literature in this way would have demonstrated that your business ideas are grounded in a sound understanding of relevant theory. From an academic, reflective essay business management, university writing perspective, reflective essay business management business idea needs a stronger basis in economic theory.
You have also not mentioned the key challenges you need to overcome in order to succeed. year 1 identify and target market, expand customer base by means of An effective reflective essay would have a description what happened? What theories reflective essay business management help explain what happened? and finally outcomes or action what did you learn? What would you do differently next time or how might it apply to your future practice? Home Courses Library Donate.
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Reflective Essay For Business Management; Reflective Essay For Business Management. Words 4 Pages. Essay Sample Check Writing Quality. Show More. For my major I decided to research business management. I’ve always been particularly interested in a business major because my dad started his own business and now runs it Reflective Report on Entrepreneurship and Business Management. Info: words (13 pages) Essay Published: 1st Jan in Business Reference this Business Ethics is very important inside the company, it will show the moral standards that a company or business have whether it is right or wrong and good or bad. Every etiquette that a business has, will reflect on what kind of company or business you are
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