Self-reflective

Business essentials

Self-reflective

The ended academic year was a new experience, as I gained new skills and knowledge. I had a chance to implement all the knowledge gained during the lectures in real life situations. Personally, I enjoy challenging experience and the ended academic year gave me an opportunity to handle challenging tasks. I had a chance to work with other students and exchange ideas. From the beginning of the year, I was focused on expanding my knowledge in business. Initially, it was not easy, however, with the help of the lecturers and other students, I was able to learn new things.

I have gained different skills throughout the year. Personally, I had poor communication skills before the start of the semester. I would always have had time interacting with other people. Having excellent communication skills is about conveying precise information to other people (Cenere et al., 2015). One should ensure that the other individual or group of people understand every information. One should also be able to understand his/her audience so as to have meaningful communication. Throughout the course, I was able to work with other students. We would share ideas and handle any misunderstanding that arose during the discussion group activities. These activities helped me improve my communication skills.

 Currently, I can handle different situation and conflicts without much struggle. The year was also helpful as I gained great research skills. One interesting aspect of the entire year is that we were able to research about real life companies. Initially, I had difficulties differentiating the right academic sources to use in my research (Kotler & Kotler, 2014). I have learned the difference between primary and secondary sources. I have also learned that good research starts with preparation. One has to ensure that he/she understands the assignment topic. One also needs to plan the research questions as they act as the guideline for the research. Another interesting aspect that is important in research is understanding its purpose. It is also important consider the different sources that are required in the research. One also needs to record all the important bibliographical details.

Additionally, I have learned about financial management. I can confidently make financial decisions from the knowledge I have gained. I have gained knowledge on how to analyse the market and make important decisions for the business. Currently, many organizations are opening branches in the international market, with my knowledge, I would help organizations expanding in a new country make important decisions. For instance, the first step that the organization needs to take is performing internal analysis so as to understand its financial position. The company needs to analyse its profitability and liquidity and their effect on the business expansion (Tulder, Verbeke & Voinea, 2012). I have also learned how to manage the cash flow and make sure that organization is functioning properly. Another step is performing external analysis by comparing the performance of the business with its competitors (Kotler & Kotler, 2014). This helps in understanding the market.

Personally, I believe that the knowledge and skills I have gained will help me in my future career. I would like to take up a job as a business development manager. The role will allow me to use make important business decisions. I will also have an opportunity to work with other individuals from different sectors. However, I need to work on my organization skills. As a leader, I would need to have excellent organizational skills. I also need to improve my leadership skills as well as negotiation skills. As a business development manager, I will be tasked with making negotiations with different customers. I need to convince individuals or companies to accept a business idea. Additionally, I will be required to sell our brand to the international market. It is important for a company to understand how the global market before investing in another country. Some of the essential elements that a business should understand include, the labour laws as well as the government regulations.

 Initially, I had difficulties in understanding the global market. However, the knowledge I have gained will guide me in my career endeavors.  As a business development manager, I also need to enhance my creative skills. The business sector is changing, and organizations are becoming competitive. They are developing new ideas so as to remain competitive despite the changes. Therefore, as a business development manager, I will be required to lead the team tasked with developing new ideas. I will also be tasked with developing business presentations and presenting the organization at trade exhibitions as well as other events.

Appendix

Microsoft

Business Development Manager

The ASG Business Development team at Microsoft is responsible for identifying and executing strategic business development opportunities for Skype and Skype for Business. We propose, structure and execute strategic partnerships, joint ventures, investments, and acquisitions.   We are looking for a Business Development Manager to drive wholesale carrier partner relationships and manage the daily operations of those partnerships to optimize price and quality for Skype and Skype for Business. You will play a key role in working with the product teams to enable new capabilities through partnerships while optimizing and driving efficiencies of existing business.  

This role will be responsible for the following key areas:    

Strategy Development: Collaborate with stakeholders across the company (engineering, marketing, finance, legal) in development of business and product strategy, translate business and product strategy into a partner strategy, and identify partnerships that can grow our business including how we can accelerate our product roadmap through inorganic activities (Microsoft Careers, 2017) .  

Transaction Execution: Identify, evaluate, and prioritize specific inorganic opportunities in support of the broader partner strategy including developing the business case for a partnership (strategic rationales and economics), creatively structuring deal terms, and developing a negotiation strategy and leading negotiations. Communicate with all stakeholders at all stages of the deal process to secure buy-in and approvals. Drive deals to closure while maintaining a willingness to walk away from deals which did not meet business objectives or introduced an unacceptable risk.  

Deal Execution: Monitor deal performance and track efficacy relative to expectations post-close. Maintain ongoing relationship with partners to ensure compliance and commitments are fulfilled.  

Operational Excellence: Optimize delivery of new business models, and effectively execute margin and quality improvement in existing businesses  

External Partnerships: Maintain a network of relationships across the industry with partners, potential partners, competitors, investors, thought leaders, etc.   Leverage relationships in opportunity identification and transaction execution.  

Industry Expertise: Be an expert in the communication industry trends including competitive and market dynamics, product and technology trends, and start-ups.    

Successful candidates will demonstrate these skills and qualifications:

• 5+ years of business experience in telecom.
• Business strategy and market development expertise with deep analytical and business modeling skills   Passion for product, technology, and creating great customer experiences.
• Deep understanding of the global wholesale telecom industry (voice and SMS) and the overall communications industry landscape (Microsoft Careers, 2017).
• Leading cross-disciplinary virtual teams and driving key business development initiatives from creation to implementation in partnership with senior Microsoft executives.
• Ability to lead, influence and drive results in a complex technical and business environment  
• Ability to communicate and influence all levels from senior executives on down and all functions (such as engineering, marketing, sales, services, finance and legal)  
• Key interpersonal traits: motivation, creativity, adaptability, unquestionable ethics & integrity, and a willingness to take calculated risks  
• Expertise in structuring, negotiating, and managing complex commercial deals and acquisitions is nice to have but not a requirement.

BSI (British Standards Institution)

BSI (British Standards Institution) is the business standards company that equips businesses with the necessary solutions to turn standards of best practice into habits of excellence. Renowned for its marks of excellence including the consumer recognized BSI Kitemark^™, BSI’s influence spans multiple sectors including Aerospace, Automotive, Built Environment, Food, Healthcare and ICT. With over 80,000 clients in 172 countries, BSI is an organization whose standards inspire excellence across the globe (Business Development Manager – Key Accounts, 2017).

We currently have an exciting opportunity in our Sales department, working as an Business Development Manager for Key Accounts within the highly successful sales team. This is a national role with a preference with a Southern UK region focus.

About the Role:

The Business Development Manager will deliver new business revenue from an agreed product stream or supporting streams. This role will be required to collaborate, influence and develop a product that is market ready. You will then introduce and sell that product or service into the targeted segment with a view to growing repeat business and wallet share.

            The new Business Development role will target new business, target accounts with whom our share of business is low in order to grow and develop that business and introduce new solutions. Identify and develop new logo strategic Accounts who are not currently using BSI products or services. Particular focus on the core business schemes – certification, training, product certification.

About You:

To be successful in this role you’ll have demonstrable new business acquisition skills regularly exceeding targets through prospecting and high levels of activity, with a clear record of growing existing clients successfully. A thorough knowledge of the sales process, territory management and planning is required along with a clear ability to build strong internal networks and virtual teams to support existing customer growth and new client acquisition (Business Development Manager – Key Accounts, 2017).

In addition you’ll be

• Resourceful and solution orientated
• Resilient
• Proactive and flexible
• Results oriented
• Able to sell internally as well as externally

What we offer:

We offer a highly competitive starting salary of up to £50k basic plus OTE additional £40k and car. We are offering 27 days annual leave with the opportunity to increase this to 30 days, company-paid private medical insurance, an excellent company-contributed pension scheme, and a wide range of flexible benefits that you can tailor to suit your life-style. 

References

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Business Development Manager – Key Accounts. (2017). Retrieved February 19, 2017,

from https://globalcareers-bsigroup.icims.com/jobs/3949/business-development-manager—key-accounts/job?mode=job&iis=Indeed&iisn=Indeed.com&mobile=false&width=910&height=500&bga=true&needsRedirect=false&jan1offset=180&jun1offset=180.

Cenere, P., Gill, R., Lawson, C., & Lewis, M. (2015). Communication Skills for Business

Professionals 7. Cambridge University Press.

Kotler, P., & Kotler, M. (2014). Winning hlobal markets: how businesses invest and

prosper in the world’s high-growth cities. Hoboken, New Jersey : John Wiley & Sons

Microsoft Careers. (2017). Retrieved February 19, 2017, from

https://careers.microsoft.com/jobdetails.aspx?jid=274319&job_id=1012453&utm_source=Indeed&show_desc=0.

Tulder, R. V., Verbeke, A., & Voinea, L. (2012). New policy challenges for global MNEs.

Bingley, UK, Emerald.

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