B 499 Final Paper

I have learned lots of valuable information during the course of this all semester. Most of the information that I have learned is relevant in business setting and can be used on a daily basis, Mastering and putting the principles taught in this course would help me make sound business decision such as the one that we learned about in the first week of class, about opening a restaurant in Rexburg. Some of the analysis tools that I learned from this process include the following; Porters Five Forces Model, SWOT Analysis, Competitive Strength Assessment (weighted), and PEST Analysis. These tools are extremely valuable and effective ways to analyze a strategy decision like this, so I have tried to become very familiar with them. On the other hand, due to lack of being familiar with these tools, can truly have a negative impact on the outcome of any business that would ignore such measures. Entering a new market requires a number of steps before one can call it a successful step. With the use of the tools that I have mentioned earlier on, plus other topics that we have covered in this course provides a solid foundation. Moving into a competitive market would require more than just understanding the key players in the industry. However, once such key players have been established, then the next move is to understand the business models within the market, and then later establish means or way on how well we could fit into the existing market and look for opportunities to expand and even become better than your competitors (Netflix vs Blockbuster). Something interesting that I have learned from this on this topic is that every business that has grown from a humble beginning to its greatness has been a business with that has had a clear vision. Having a clear vision as business of individual truly makes a whole difference in everything we do. Vision is also connected with growth, a business that has a well-defined goal or vision is one that has established control systems (principles) that govern the entire organization, these principles would include honesty, integrity, accountability, and so far.
Business innovation is one key component or engine of the business world. Without innovations, it would truly be impossible for companies to compete effectively. Great innovation is linked with greater business strategy or models that defines what a business is all about. Without innovations and technology, it would be hard for a company to distinguish itself from other companies. Innovation is linked to growth in a business structure and revenue, the more complex the innovation, the more complex the business itself. Some key points that I learned from the Amazon kindle fire case, any product that is introduced on the market can either be hundred percent accepted by the consumer or partially. But before any product is introduced to the public, the product goes through a series test before open to general public, in order to make sure that the product resonates with the general consumer base. In additional, the product developers have a responsibility to make sure that they bring a product to the market that is unique, this would help the consumers distinguish the difference with other products on the market. The biggest challenge moving forward in this technological atmosphere is catching up with the fast changing world of technology.
Leadership is another principle that I have learned in this class. Being members of the church we have more chances of having a leadership position compared to those outside the church, and most the qualities that we learn about within the church about leadership are vital even in the business world. For example, as a leader we should always have a vision of where we want to see ourselves and those under our stewardship. Without that vision, it will be hard for us to meet our goals, or without a clear vision, then we are doomed to fail. With leadership, it’s always true that

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