Business Management Essay Research Paper Coursework (Essay Sample)

CANDY SHOP
Student Name
Institutional AffiliationCandy Shop
Part A
Section 1: Highlights and Summary of Journaling
External and internal factors are important aspects affecting different industries and should thus be highly regarded in today’s business world. In recent times, different studies conducted have indicated how such factors are significant to business, especially with regard to external factors. Interested parties have argued that businesses cannot control external factors and will therefore continue experiencing their negative effects as long as they are in operation. Notably, business analysts have indicated in the past that a business has a higher likelihood of failing if it is exposed to severe external conditions such as strong competition in the market, sourcing of raw materials, unfavorable government policies, or political instability among others. This academic year has not only boosted my business knowledge through gaining valuable information on business management, but has also given me insight into ways of controlling external environmental factors affecting business. The latter has captured my attention and brought me to the realization that a businesses can adapt to numerous environmental conditions and change (Alreemy, Chang, Walters, & Wills, 2016). The semester’s lessons have been a revelation to me, in that I have identified different possibilities through my research, which subsequently enabled me to come up with the most appropriate business idea as well as a suitable location for the business. Through a journaling process, I have managed to become more creative, innovative and most importantly, I have learned about the various types of businesses that are convenient, manageable and reliable options. In addition, I have been able to identify different and reliable sources of financing.