10 March

Topic: Revision

     This is the last week of this term's studying. Through these lessons and lectures of the whole term, I learnt a lot of professional knowledge about business management and mastered some detailed technological methods to deal with business problems. In this blog, I will give a list of key points and the major structure about this subject. It likes review notes to help me remember  all the knowledge and get some further understandings.

      First of all, from this subject, I knew lots of definitions of professional words in the business, such as organisations, globalisation, strategy and so on. Also, there are many specific vocabularies which I must master the purposes of them and what they stand for. For instance, the purpose of porter's five forces is identifying competitiveness and profitability, and meanings of these five forces are threat of substitute products, intensity of rivalry within the industry, threat of new entrants, bargaining power of buyers and bargaining power of suppliers. In addition, SWOT and PSETLE are another two significant parts. SWOT stand for strengths, weaknesses, opportunities as well as threatens, and PESTLE represents political, economical, social, technological, legal and environmental. Expect these, there also have many important business words need to be understood.

       Secondly, combining with the detailed knowledge, I can analyse some real business cases and find out measures to solve problems. Established cases like tools to help me understand vital points deeply and teach me to know the ways which are used to compare the similar case in different conditions. For example, in the trend of globalisation, Tesco in USA and Starbucks are two international Coffee Shop industries, but they got different results in the processes of their development. This is a very important case studying should be learnt. According to characteristics of each of them, I have to do some further surveys about themselves and get a clear understanding about their domestic markets and international markets. To sum up, focus on the studying of this part, I mastered how to make correct strategies which can let organisations find new ways to fit for the modern society and have rapid improvement.

       Moreover, I also got many useful professional knowledge about business management which taught me to become an eligible manager. In order to master every part, I knew that setting up a total structure about each main content is very necessary for studying.

        In conclusion, business management is one of vital subjects in my studying, it is a guide which leads me to become better. Through the total revision of this passage, I master the knowledge clearly.