Having never taken a business course, Managing in Complex Environments is both an exciting place to start and a challenge I wasn’t expecting.
I find the content of this class incredibly interesting and am eager to learn all that Dr. Lada has to offer. It feels like I am laying the foundation for my business education.
It brings its challenges though. I am still familiarizing myself with the terminology of business courses and am relying heavily on my piers and our professor for their insight(s). Every day I feel I am strengthening my vocabulary in this area of study. I really think I am fostering my communication and organization skills from this experience too.
Both communication and organization are crucial in the field I hope to get into, so beginning early and honing these skills is pivotal. I will take this skills with me wherever I may go in my career, whether it be an internship or my post-graduate job. They are necessary in almost every workplace environment and putting them to practice now is nothing but advantageous.
To kick off this course we compared the 2 types of goal-oriented firms: firms with a singular goal, to maximize profit, and firms with multiple goals. We concluded that to have maximized success in a complex environment a firm must have goals beyond that of the growth of profit. These ideas were refreshing because typically money is a the forefront of my mind when I think of the business world. It illuminative to know there is more to many companies’ interests than just their value.
We also learned about 4 business theories: Porter’s 5 forces, the Stakeholder Theory, PESTAL, and VUCA. Having never heard of them prior to today’s class, I found them enlightening. These theories shed light on the factors that influence businesses beyond the acquisition of profit. In particular I found VUCA the most interesting. The video highlighted the importance of keeping employees happy in hopes of keeping an environment less complex. This really resonated with me.
I can’t wait to see what tomorrow class and sight visit bring!