Applied Integrated Business Essay Example | Topics and Well Written Essays - 1250 words

Applied Integrated Business - Essay Example This paper is an attempt to synthesize everything I had learned so far which can be applicable in a world of business that is further made complicated and difficult by various financial crises. In the next few pages, I will elaborate on these further by enumerating the three most important. Discussion I think Professor Michael Porter's Five-Forces Model of competition is the first thing that comes to my mind in terms of importance. His model is applicable to almost all industries anywhere in the world. It has universal applications and any aspiring manager should learn to apply the principles in this model. Doing so will make his job as manager much, much easier. It will allow him to analyze a given industry, formulate the appropriate strategies and then be able to implement this particular chosen strategy to achieve superior results, no matter what. It is a given that the Porter model is extremely useful for industry analysis in order to attain that sustainable superior performance over peer industry competitors. The model further simplifies the whole job of any manager; without it, it is quite difficult to arrive at a good decision due to sometimes too much data to analyze that one can easily get lost of the strategic objective. The second most important thing I learned during the course is the 7 Ps of marketing. ... This model will help to put things in a proper perspective so corrective measures can be undertaken to rescue new products and services from being failures in the market. This model is a step-by-step guide to successful marketing techniques because it analyzes each step to be taken when selling and it helps to remove guesswork by making the analysis much more professional and accurate. The third most important I learned so far in this course is the SWOT analysis model. It may seem simple but it at least has a systematic approach when analyzing the inherent kind of strengths and weaknesses of any business organization. The first two letters are S and W; it pertains to the internal structure of the business firm by looking inward at its core competence or the areas of operations in which it has advantages while at the same recognize weaknesses. This will allow the firm to take corrective measures to remedy these weaknesses. The second two letters which are O and T represent opportuniti es and threats from the environment which are considered as external to the firm. The usefulness of this SWOT model is it is applicable to individual persons as well, such as taking pre-emptive or preventive measures to avoid any possible harm or dangers. The SWOT model for analysis is also useful in other situations like disaster preparedness by government units and other non-profit organizations because it will try to recognize possible dangers and allow for sufficient advance planning to avoid failures. The SWOT model has internal and external components, very much like Porter's Five-forces model, which has three external components and two internal features in the said model. I fully intend to use all my accumulated knowledge from the course in my daily