MANAGEMENT

Personal Reflection- BM6101

Personal Reflection- BM6101

Introduction

The main aim and purpose of Level 6 module is to scrutinize the hypothesis and practice of strategic decision making throughout an exploration and investigation of external and in-house settings, strategic alternatives and options, and strategy execution. This module allowed learners to create an understanding of different business strategy formulation and its functional application in diverse environment for different kinds of firms, like MNCs, business-related companies, small medium enterprise, public-related firms and many others. Moreover, BM6101 module also provided greater exposure to concentrate on major dilemmas and challenges occurring in the areas of worldwide and domestic competition, and stressed on major areas of management topics that takes account of: sustainability, supremacy and ethical values, human resource supervision, leadership, modification and multiplicity, and technical advancement (Johnson, 2011). This paper will offer my personal reflection for BM6101 module and how can I apply its subject matter for the future profession.

Discussion

Personal Reflection

With the increasing rate of competition and modernization, forward-looking firms are identified by ground-breaking approaches and strategies (Storehouse, 2011). This decision-making learning module gives up awareness into how real-life firms have turned strategy into achievement and offers learners with the option to plan their own commercial action plans for sustainable cut-throat gain in the near future. Leveraging novel research and related case accounts, the module offers with the option to devise personal business plans for competitive gain. This unit of study helped me to examine tactical decision-making all the way throughout a comprehensive analysis of external and internal setting, premeditated alternatives and business operations. It allowed me to create an understanding of strategy formulation and its execution; in terms of hypothesis, practice and guiding principle.

To deal efficiently with the wide range of factors affecting the capability of a business to develop and flourish, managers require highly developed procedures they feel will smooth the progress of the most advantageous positioning of the business in its competitive setting. Such position is potential with planned supervision as this procedure improves attentiveness for unanticipated in-house or competitive demands.The module facilitated me to examine the setting of the chosen company, Wal-Mart and its strategic formulation. This included strategic scrutiny of the in-house and external setting, mission and goals, foundation, direction and means of strategic alternatives, strategic assessment and execution. There were also other fundamentals covering, moral values and CSR, strategic position and rivalry, ability and tactical choice, globalisation, managing acquaintance, the internet and know-how, tactical project administration, and sustainability; strategy-in-practice all over private, civic and third sector firms (Schweitzer, 2011).

This module of study is intended for learners who have already done with a basic course in the conceptions, tactics and techniques of strategic investigation and arrangement and who now desire to intensify their knowledge of the subject matter in order to create a more effectual contribution to the growth of their part of the firm and the organization as a whole. It is stressed on the administration of constant business growth and allied operational ...