MBA600 Capstone Strategy Essay 3 Sample
Assessment Details
Your task
Individually, you are required to reflect on the learnings gained from undertaking the capstone subject and assessments by writing a 2000-word reflective essay.
The purpose of this assessment is to foster students’ ability to coherently reflect on their undertaking of the Capstone: Strategy subject together with a reflection on their entire MBA.
Instructions
Students are required to look back at their MBA course as a whole and identify the specific skills developed that will assist them in becoming effective practitioners in the workplace.
Learning is a persistent change in performance or potential that results from experience and interaction. Reflective learning is the process of stepping back from these experiences and reflecting on how skills, attitudes, mindset and behaviours have evolved.
Your reflective essay must cover the following:
• Introduction.
• A brief discussion on the value of reflective practice for managers and leaders.
• A personal reflection on learnings from the capstone subject and consultancy research process.
• A personal reflection on skills developed over the MBA.
• A personal reflection on how these will assist in future career endeavours.
• Conclusions.
• Reference list.
The reflective essay should include a discussion of learnings from both a theoretical and practical perspective. Additionally, insights from undertaking assessments and research, capstone lessons as well as group activities from this and other subjects over the duration of the course. Specific examples should be cited to support and justify all points.
Solution
Introduction
Competing firms operating on the same market possesses competitive advantage over the other (Annarelli, Battistella & Nonino 2020). The essay will focus on my understanding of MBA course, the capstone subject. I will start by highlighting the importance of reflective practice assessment for managers and the knowledge gained from individual weeks. The personal reflection on learnings from the capstone subject and consultancy research process will be discussed and then the skills developed from this subject will be briefly explained. I will focus on business strategies, theories and concepts related to business environment and finally on research methodology. Finally, I will discuss about my future career endeavours and relate those with the understanding from the MBA course.
Discussion
While considering the viewpoint of Shani and Coghlan (2021), it can be said that reflective practice helps managers to understand their capability of professional development and dynamic approach to cater daily business operations. The managers are able to adapt the changing business needs and adapt to professional business requirement. The managers are able to become aware of their self-understanding, thoughts, beliefs, capabilities and how far they are flexible in achieving daily business concerns (Al Halbusi et al. 2021). Moreover, managers can also get the idea of their own strengths and weaknesses and based on the assessments they can finally work on developing the challenging areas. Based on the past experiences the managers are able to adjust their approaches to perform, which eventually helps in delivering better requirements. Furthermore, Kiersch and Gullekson (2021) is of the viewpoint that reflective practice helps managers to gather ideas of the way a team or department can be guided by following a learning culture. With changes in business requirement, it is very necessary for a team to change its viewpoints and adapt to dynamic goals, which can also be achieved through a learning culture. Resistance to change and making oneself flexible is only achieved once managers are able to create a learning environment, which is achieved through learning culture. Pless et al. (2021) pointed out that managers often become frustrated, confused and irritated while delivering projects within deadline, and by the help if reflective learning, they are able to understand the working pain points, their areas of weakness, and accordingly recognize the signs of burnout and stress. Finally, it must also be highlighted that once a manger understands their thinking ability by reflective assessments, it caters in developing problem solving skills, critical thinking ability and proactive approaches to address the most challenging situations (Rhodes & Brook 2021). Based on past decisions and considerable outcomes, managers are able to understand the pathway for future course of action, which helps in gaining support and trust from fellow team members. Therefore, overall, it can be said that reflective approach helps in creating team-building, problem-solving and a positive approach among managers, which eventually helps in achieving business goals for university assignment help.
The course started by showing the strategy concepts from week 1. These concepts are extremely necessary for business development, which is comprised of theories related to achieving competitive advantage, sustainable business performance, complexity resolution and capabilities needed for operating in a dynamic industry change. I found week 1, focus was predominantly given in a firm’s capabilities and resources. While carrying out a business, it is very necessary to understand a business problem, and then the way needed to address such a problem based on firm’s capabilities and resources is decided. Moreover, I came to know that a firm initially categorises the strategic plan into internal, external and operational categories, which eventually leads to assign required finance and budget.
Cost advantage and differential advantage is determined based on a firm’s capabilities and resources. Following week 1, in week 2, I got the deeper ideas on the importance of an organization’s resources, which leads to gaining competitive advantage. I came to know that in order to stand out in market competition, an organization must be dependant on unique capabilities, depending on which economics of learning, economics of scale, process design based on technology and capacity utilization is understood. Moreover, theoretical knowledge related to McKinsey 7S Model was also gained. I came to know that such model helps in developing the understanding of a firm’s internal resources and asset determination.
Week 3 gave me the idea of macro environmental analysis models such as Porter’s Five Forces framework and internal analysis model, SWOT. I also came across the idea of competition strategy, which is determined by understanding a firm’s buyers and suppliers. The bargaining power of both these stakeholders influence a company’s strategic direction to stand strong in competition. SWOT model helped me in gaining idea about how an organization is able to determine its treats and opportunities, which determines future strategic direction. Finally, I must say that internal and external analysis quantifies a firm’s position in market, and accordingly the way it needs to act in future.
Not only about strategic direction, I also gathered the idea of financial statements that a firm need to depend on for understanding its internal capabilities. In order to be successful and competitive, a firm needs to understand the investment areas, which would potentially result in better return on investment. Certain financial aspects such as assets, liabilities, return on investment, return on equity and return on sales determines a firm’s financial strength. Based on such financial outcome, an organization is able to focus on future strategic direction. Moreover, financial aspects help a firm to compare its position from its competitors, the requirement investment in other areas by focusing on its strengths.
Further, in week 5, I got brief idea of the business model canvas. I came to know that this model is a complete overview of the entire business model, that covers all the nine necessary elemental blocks. I found this block helps in showcasing the organizational value, its value propositions, key partners and necessary investments for future operation. Moreover, this also consist of the cost structure, physical assets, partners and key customers, which by keeping on mind, the management develops decision that are extremely important for critical business operation. Also, VRIO model showcases the capabilities and resources, which are categorized into rare, imitable, valuable and organized. This model creates a tabular snapshot of all the strengths, which creates a business strong and competing.
Finance, internal process, innovation and customers are the four pillars of the balance scorecard. I got the knowledge of internal aspects of a firm’s operation from the week 7. The scorecard is composed of four stages such as identification of strategic direction, capability integration and critical success factor analysis and determination of measures and metrics. I must say that a business operation is dependant on its internal capability, the associated shareholders and customers. Carrying out a business is dependent on certain metrics, which are corporate governance, reduction of casual ambiguity, then defining the procedure and finally monitoring the trends. Once the idea of balance scorecard is achieved, next I got the knowledge of design thinking. I found that it based on five parts which are empathizing customer, defining customer needs and problems, then challenging assumptions and creating ideas and finally creating the product prototype, which will be offered to customers. Also, there is one more stage, which is prototype testing for gating the feedback from customers. At the last of week 8, I got some brief ideas of data analysis plan, such as the idea of primary and secondary data, based on which a firm gets to know about its customer’s feedback.
In week 9, I got the idea of a detailed research proposal. I came to know that before conducting any research, a preliminary idea is required on the research problem, which is supposed to be analysed in final research. Therefore, it is very necessary to quantify the business problem and based on that research questions are to be developed. These questions form the base of a research, which a researcher needs to address while conducting the final research. Then a theoretical framework is designed, basis which data collection procedure is created, which might be primary or secondary. In the final weeks, I gathered the idea of organizational change management, which covers transitional and transformational change. Some theories such as Kotter’s 8 stage change management model and Adkar change model were thrown light, from which I got the idea of employee resistance to change. I came to know that for any transformation, the support and involvement of people and process is extremely crucial. Moreover, ideas on survival risk, brand reputation and leadership are the aspects which gave me the knowledge of competitive advantage.
While completing the course, I came across several workshops, which gave me the deeper understanding of the concepts. Certain skills such as that ways of business problem identification, strategic direction formulation, the way to conduct inter/external analysis, and the resource identification generation are developed from this course. Moreover, I got the idea of problem-solving, change management, leadership and market competition. I must highlight that in order to remain competitive in a market, the environmental analysis is extremely necessary (Ali et al. 2021). My skill of market analysis based on the internal and external factors is well enhanced. Moreover, my skill on problem identification of a firm based on resource and capability analysis has developed in a great way. Furthermore, by the idea of data collection methods such as secondary and primary, I will be able to conduct data analysis in future in support of product development. Business Model Canvas has enhanced my skill of value proposition creation, customer determination and financial calculations. Considering the overall course, I must declare that this has enhanced my managerial skills, which is associated with decision-making and problem-solving. This is because, the theoretical and workshop knowledge has given me idea on the project management, analytical knowledge, financial knowledge and market competition. This course highly helped in understanding the ways by which customer pain point is understood, and how an organization tries to address this through new product development based on internal and external analysis and resource capability identification.
In future I aspire to work in a dynamic environment by specifying on the role of a manager. I aspire to work on a managerial post for an organization that manufactures retail products. Such role is extremely challenging and is associated with problem solving nature (Gabrielova & Buchko 2021). In such an organization, I will be able to cater my knowledge on customer problem identification, guide and discuss about the inter and external challenges that faces the firm and finally recommend certain ways through which better business opportunities are created. Moreover, this course has also increased my skill on data collection and data analysis, by the help of which I can work further as a data analyst. I can also work as a marketing head in an organization, where I will be able to throw light on daily business issues and propose strategic move for better sustainability. Overall, I must say that this course will help me in resolving critical business problems while working in the higher organizational roles, which involves business decision making.
Conclusion
The MBA course has helped me in gaining a detailed overview of the theories and concepts associated with business environment. The capstone subject has given me the idea that an organization cannot continue with a same strategy throughout its lifecycle, and so it needs to develop its capabilities and resources, which will lead to competitive advantage. A manager who considers periodic self-assessment can get to know about the shortcomings to be dealt in future. Reflective practice helps a manager to overcome the shortcomings and make better decisions, which eventually contributes in organizational development. Similarly reflecting on my understanding of the MBS capstone subject, has helped me in enhancing my knowledge on business environment, problem identification, resource and capability assessment, inter and external analysis, business canvas model, balanced scorecard, research proposal and data analysis methods. These will help me in my future career aspirations such as for becoming a manager or head of marketing department.
Reference List
Al Halbusi, H., Ruiz-Palomino, P., Morales-Sánchez, R. & Abdel Fattah, F.A.M., 2021. Managerial ethical leadership, ethical climate and employee ethical behavior: does moral attentiveness matter?. Ethics & Behavior, 31(8), pp.604-627.
Ali, B.J., Anwar, G., Gardi, B., Jabbar Othman, B., Mahmood Aziz, H., Ali Ahmed, S., Abdalla Hamza, P., Burhan Ismael, N., Sorguli, S. & Sabir, B.Y., 2021. Business communication strategies: analysis of internal communication processes. Ali, BJ, Anwar, G., Gardi, B., Othman, BJ, Aziz, HM, Ahmed, SA, Hamza, PA, Ismael, NB, Sorguli, S., Sabir, BY (2021). Business Communication Strategies: Analysis of Internal Communication Processes. Journal of Humanities and Education Development, 3(3), pp.16-38.
Annarelli, A., Battistella, C. & Nonino, F., 2020. Competitive advantage implication of different Product Service System business models: Consequences of ‘not-replicable’capabilities. Journal of Cleaner Production, 247, p.119121.
Gabrielova, K. & Buchko, A.A., 2021. Here comes Generation Z: Millennials as managers. Business Horizons, 64(4), pp.489-499.
Kiersch, C. & Gullekson, N., 2021. Developing character-based leadership through guided self-reflection. The International Journal of Management Education, 19(3), p.100573.
Pless, N.M., Sengupta, A., Wheeler, M.A. & Maak, T., 2021. Responsible leadership and the reflective CEO: Resolving stakeholder conflict by imagining what could be done. Journal of Business Ethics, pp.1-25.
Rhodes, J. & Brook, C., 2021. Reflective journaling and WhatsApping as part of a management degree apprentice’s action learning practice. Action Learning: Research and Practice, 18(1), pp.75-83.
Shani, A.B. & Coghlan, D., 2021. Action research in business and management: A reflective review. Action Research, 19(3), pp.518-541.
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