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The lessons we take from failure can be fundamental to later success
The lessons we take from failure can be fundamental to later success
Introduction of business failure
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Since I was a young boy, my father has often told me business stories at dinner time. As a result, I gradually grew a keen interest in this field and wanted to realize my dream of being a business man one day. In my first year in high school, I decided to start my first business, and it did not end very well. My home is near the decoration and fashion accessories selling area in Hanoi. Realizing this geographic advantage as a potential business opportunity, I opened a small and simple network with two of my friends. We received requests from other students at my school, bought the thing they ordered, and then delivered it to them. However, things were not as easy as we expected. There were not so many demands, and we hardly made any profit. Eventually, we had to close the business after a few months due to low profits and study pressure. However, not only did this failure not weaken my interest in business, but it also taught me a precious lesson: if I want to make profits, I have to learn the needs of the customers carefully to offer them the best products that cater to their demands. Ever since then, I have been eager to obtain both profound knowledge and practical experience in business. …show more content…
As a result, businesses have to encounter more competitions than ever before, especially since Vietnam became an official member of the World Trade Organization. Realizing this tendency, I have determined to apply for the Master's Degree Programme in Management and International Business at Aalto University School of Business, which will provide “a research-based and practically grounded understanding of management and international business”. I believe this program will establish a strong foundation for me to prepare for my future business career in a multicultural
Businesses exist to produce goods and services. If someone is thinking of starting up their own business or becoming part of an existing business, they would have to have the knowledge of what makes business work successfully and know how to how to apply that knowledge in the particular area of business. For this unit I will be entering and exploring the world of business. For this unit I will encounter and evaluate information provided by certain businesses and actually gather my own information from at least one business. The business I have chosen to study is J Sainsbury’s.
Most of the time business begins with simple idea and challenges to reality. But before we
I strive to do my best in all of my classes, but I am most successful in those classes that interest me. I have grown up in a family business, My parents have run a very successful furniture business for my entire life. And after my parents divorce three years ago, my mom let me aid in the creation of her own furniture business. From traveling to furniture markets, speaking with professionals and furniture business own...
Globalisation allows individuals, groups, corporations, and countries to reach around the world farther, faster, more deeply, and more cheaply than ever before. Most large local companies regard globalisation as opportunity, thereby exploring overseas markets for maximum market share and optimum business strategies. However, managers would face a series of challenges caused by leadership models, cultural backgrounds, political and economic risks, HR management, etc. To study multinational management skills is very useful for my future career. In this essay, I will set goals for this subject, identify the skills I have honed and need to improve, and explain my strategies for achieving goals.
A major challenge of doing business internationally is to adapt effectively to different culture. Such adaptation requires an understanding of cultural diversity, perceptions, stereotypes, and values (Hodgett &Luthans, 2005). Doing business overseas has its challenges as well as it rewards.
I am one of those guys that like to make the world a better place so I feel like if I used what I learned from business simulation I can help make the world a better place for sure. A major key to success for me is making sure the world is a better place so I feel like if I can open more businesses in the future I am changing the world because that will give people who don’t have a job something to do. The biggest thing that I learned from doing the module was managing your products for me that is a big key if you want to have a business because you have to make sure your business is heading the right direction. Like I said before what I can do with what I learned from this class is just to open up my own business because I feel like I can do that. I just need to be that one businessman that can change people life in so many ways by giving them jobs or just making sure they are taking care of. With what I learned in business simulation I can put it to use by opening up my own business even it is not a big business I want to open up something that I will put money in my pocket and also a business that will help me send to my family that living in Africa. They are depending on me so much so I feel like if I don’t have a business to support them let them down. That one of reason why I am taking business so I can just let my mother
15. Hill, Charles W.L. International Business: Competing in the Global Marketplace. New York : McGraw-Hill, 2007.
During my last year in high school, I developed a desire to learn and understand the business in order to help my parents in the future. As a result, I chose to study Marketing at Thammasat Business School. In my third year of studies, I joined the 27th Marketing Trainee Programme hosted by the Marketing Association of Thailand, where I have experienced first-hand training from professional marketers and took part in marketing stra...
After graduation from KOREA University, I decided to enter Hyndai MotorCompany(HMC), which is the largest Korean car manufacturer and global player, to pursue a career as an international businessman. In January 1991, I joined Domestic Finance Team of HMC. My specific assignment was to plan monthly and annual financial schedules for HMC's domestic funding needs. About two years later, in January of 1993, I was transferred to Retail Finance Team from Domestic Finance Team and responsible for financing by the sales and factoring of Car Receivables.
In recent decades, the process of globalization has accelerated and the world economy has become increasingly interdependent. The rise in the number of businesses that extensively operate in more than one foreign country, which is known as multinational corporations, plays an important role in the ongoing procedure of globalization. The United Nations has reported that multinational corporations hold one-third of world’s productive assets and control 70 percent of world trade (Schermerhorn et al., 2014). As there is a considerable growth in international businesses, worldwide economy is becoming more highly competitive. The global economy not only offers great opportunities for multinational enterprises but also on the other hand, creates many difficulties for them. Therefore, success in the large-scale economy requires a number of elements. One of the major determinants is dependent on global managers. In the operation of organizations, managers may encounter different international management challenges that restrict their business development. These challenges often include issues associated with the host countries, the global workforce diversity management, management across cultures, difficulties in competitive global business environment as well as in the process of global planning and controlling. This essay is going to discuss the above international management challenges in a broad sense and giving illustration in aspects of each challenge.
The study of international business is fine if you are going to work in a large multinational enterprise, but it h...
find it difficult to set up a business and make it a success. This is
I found this topic so interesting and motivating and I believe that I got some new knowledge and skills after attended this assignment topic. My experience has been successfully expanded as a result of attending classes, to include global approach to the international business. I found out that practice for international business has become little bit complicated due to influence of globalization.
We learned a lot of things in this course, but I think the most important lesson I learned is that it’s not easy to be an entrepreneur. I was surprised to hear in the first class that 80% of startups fail, but after reading The Art of Start and E-myth Revisited I understood why this happens more often than one might expects. Some people start their own businesses for the wrong reason and some start with wrong mindset. I’ve always thought that if someone has a brilliant business idea and hardworking they will succeed and grow their business. However, now I know that there are many things to consider before starting any business. In fact, there are many strategies that an entrepreneur could follow to achieve success, such as know your customers, work “on” the business, and how
The path to achieving great success is not easy. Whereas there are many shortcuts, the long and patient walk is what takes a person many miles ahead. This concept applies to any individual who aims at becoming a successful businessman. The process of becoming a successful businessman requires a person to attain several accomplishment levels. Each of the level takes energy and time, as well as the ability to recognize the things that make a person truly successful in the business world and life. Becoming a successful businessman requires measurements that take into account not only the monetary and material gains but also the greater scheme of things. Therefore, true success measure achieves in light of creating wealth and value. These factors are vital in the lifetime of success as they present an intangible worth and measurable profit. This essay discusses the way a person can become successful as a businessman.