How to Achieve Our Goals?
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Introduction
I am a university student working towards success. Through hard work and good study techniques this will be possible. This paper is simply about how I plan achieve my goal, overcome obstacles that I will face in the future, maximize my output and take advantage opportunities presented to me.
External Analysis
From my understanding a business does not operate in a vacuum; in fact a business manager has to think outside the box since there are external influences that affect the day to day operation of a business.
The primary factor that has an effect on business operation is the level of competition. This has to do with how aggressive other businesses are in competing with products that are similar to your business. Other than the competitive aspect of the business there are other external factors such as the social, legal, economic, political, technological and ethical facets.
The social factor refers to the behavior and beliefs of household, consumer, and communities. The ethical factor talks about right or wrong in business. The legal and political factors on the other hand, have to do with how legislation and changes in government affect the business respectively. The economic factor deals with the effect of government taxation and other transactions on the business, while the technological factor covers changes in production process and innovation due to increase technology.
The business world is dynamic in that changes are constantly taking place. Most of these changes result from customers demand, needs and wants, technological changes, the introduction of new or amendment to old legislations, as well as new and existing competitors. As a result of this, for a business to be successful there is a very high dependency on the product that is being marketed and the way in which the business is being managed.
The dynamics of change say a lot about the direction that my future will take in terms of achieving my goals and becoming successful in the business world. One of the first and foremost things that I need to be aware of is my social responsibility as a business person. This means that I will definitely need to consider my action in dealing with different parts of society. For instance, any business venture must be marketable and economically affordable, and the products of the business must also be appealing to different groups of consumers.
Since there are legislations that cover businesses, employees and consumers, it is necessary to understand these processes and the kind of impact that they will have on the business. Technology is also growing and changing rapidly; with this increasing technology it is necessary to make the relevant changes in order to be able to keep up with the dynamics. In other words, as a business manager I will have to develop an awareness of these technological changes and try to see how my business would fit in. It is also essential that I keep up-to-date on current events to understand what is happening in society in terms of businesses. Only then will I be able to understand enough to improve product qualities, promote the business, and stay on top of the competition so that I can be successful in whatever business project I undertake.
Internal Analysis
When overseeing a business some of the main things to bear in mind are the internal factors which will have a profound effect on the business. These are significant because they help to determine how prosperous the business will be in the future and whether or not it will be able to grow or become stagnant over a period of time, or even become a complete failure.
The internal factors speak to the strength and weaknesses that are present in the undertakings of the business and which will ultimately give the company an advantage over other companies, or on the contrary be at a disadvantage in providing adequate and appropriate service to those who need it.
The main internal factors are resources and capabilities of the persons involved in conducting the business. Resources have to do with portfolio analysis of the products, sales, profit, quality of the products, the cost of the new products and the efficiency of the employees. With respect to capabilities, this speaks to any goals, uncertainties, problems, constraints, weaknesses and strategic strengths that the stakeholders have to deal with, or must possess.
In analyzing the companys strengths it is usually expected to be market oriented or customer focused. It is also required that the strengths be rather meaningful in assisting the business in order to meet the diverse needs of the customers. Usually, a person with the right kind of expertise is required to maneuver the business and make it run effectively. If there are any weaknesses in the running of the business then there will be limitations and the business will face problems both internally and externally. This can seriously affect both decision making and the act of developing new strategies to be implemented.
In conducting a business I can build upon my strengths and also use my weakness to overcome any obstacle and achieve success. In order to do this I need to identify any skills that I have which will enable me to do well as a business manager. By knowing the weak areas I will be able to make improvements and also try to make the most of any and every opportunities that that are present. I will seek to make changes and try to fit my business in well should there be any change in the market. Some of the change that I will anticipate is technological changes, business merger and change in the demand of products or services. Whenever these changes occur, it will be necessary to make corresponding changes that will be deemed suitable to the continued success of the business. By developing awareness of the above and implementing the correct strategies I can help my business to grow and develop, and achieve the goals and objectives as set out by the mission both in the present and future.
Vision
A better future is what I am working towards. My long term goal is to ensure that my family doesnt have to face the struggles that I did. Since the beginning of my tertiary education, I have been working towards paving the road for an easier life for my