Respond To The Following: What Have You Learned In This Cour

Respond To The Followingwhat Have You Learned In This Course And Prog

In the Business 599 Capstone Strategic Management course, I have gained comprehensive insights into various critical aspects of strategic management and business planning. The course involved the development of a detailed business plan, including financial forecasts, company description, mission statement, SWOT analysis, target market identification, triple bottom line considerations, and an elevator pitch. These components have enhanced my understanding of how to create a cohesive and strategic approach to launching and managing a business, emphasizing both financial viability and social responsibility.

Throughout this course, I learned how to conduct a thorough SWOT analysis to assess internal strengths and weaknesses alongside external opportunities and threats. This process has sharpened my analytical skills and enabled me to develop more strategic decision-making capabilities. The focus on the triple bottom line—people, planet, and profit—has deepened my appreciation for sustainable business practices and the importance of balancing economic success with social and environmental responsibility.

Developing a comprehensive business plan has also improved my ability to articulate a clear value proposition and craft compelling target marketing strategies. The process of preparing an elevator pitch has strengthened my communication skills, enabling me to effectively convey my business concept concisely and persuasively to potential investors or stakeholders. In addition, constructing financial projections and understanding key financial metrics have provided me with a better grasp of the financial health and viability of business initiatives.

What I Would Have Liked to Learn

While this course covered a significant amount of strategic management topics, I would have appreciated a deeper exploration into digital and technological innovations in business strategy. Specifically, understanding how emerging technologies like artificial intelligence, blockchain, and data analytics can be integrated into strategic planning would be highly beneficial. Furthermore, a module dedicated to international market entry strategies and global business considerations would have complemented my learning experience, given the increasingly interconnected nature of today's business environment.

Three Strengths Acquired or Enhanced

During this course, I have strengthened my skills in strategic analysis, financial planning, and effective communication. My proficiency in conducting SWOT analyses has improved, enabling me to evaluate business environments more critically. The process of developing a comprehensive financial plan has refined my ability to project costs, revenues, and profitability, which are essential skills for any aspiring entrepreneur or manager. Additionally, crafting and delivering an elevator pitch has enhanced my public speaking and persuasion abilities, crucial for engaging stakeholders and potential investors.

Overall, this capstone course has equipped me with practical, strategic, and managerial skills that are vital for successfully launching and managing a business in a competitive environment.

References

• Barney, J. B., & Hesterly, W. (2019). Strategic Management and Competitive Advantage: Concepts and Cases. Pearson.
• Hitt, M. A., Ireland, R. D., & Hoskisson, R. E. (2020). Strategic Management: Concepts and Cases: Competitiveness and Globalization. Cengage Learning.
• Watson, J., & Rasche, L. (2018). Corporate Social Responsibility: A Business Approach. SAGE Publications.
• Grant, R. M. (2019). Contemporary Strategy Analysis. Wiley.
• Porter, M. E. (2008). The Five Competitive Forces That Shape Strategy. Harvard Business Review.
• Kaplan, R. S., & Norton, D. P. (2001). The Strategy-Focused Organization. Harvard Business School Press.
• Elkington, J. (1997). Cannibals with Forks: The Triple Bottom Line of 21st Century Business. Capstone Publishing.
• McKinsey & Company. (2020). The role of AI in shaping strategy. McKinsey Insights.
• Kim, W. C., & Mauborgne, R. (2015). Blue Ocean Strategy. Harvard Business Review Press.
• Friedman, M. (1970). The Social Responsibility of Business is to Increase its Profits. The New York Times Magazine.