DUE TODAY! ONLY 2 1/2 – 3 PAGES
Each Competency should be similar and reworded/rewritten so the same references can be used. Or you can use the same reference and make up a competency for that reference.
A. Three Competencies Developed Throughout Your MBA Program that Facilitated Performance In The Business Simulation Completed For Task 1 And Task 2
One of the competencies that I developed was the ability to analyze the global market and identification of opportunities that can make a business to gain a competitive advantage through various marketing activities. Through the competency, I was able to successfully complete the business simulation task one and two. The competency made me able to understand the fundamental marketing functions and concepts for a business operating both locally and internationally. The skills will be important for me to coordinate the marketing function of a business when I rise through the managerial ranks in my career.
I also gained vital skills under this competency that makes me able to create marketing strategies for an organization in the future so that it promotes its products and services
successfully. From a global perspective, the competency also allowed me is able to plan, implement, and evaluate global marketing strategies that can make a business stay afloat in the global market place (Kotler, 2019). This was also followed by gaining vital skills required for a business leader to formulate strategies that can be implemented for an organization to make the marketing function be successful in future career. The skills also made me complete the marketing part of the business simulation task one and two. The MBA program also allowed me to be able to develop skills and competencies in the marketing function that allow me to competently describe the marketing strategies that can used by no-profit making organizations and the also how social responsibility affects the marketing of an organization (Chernev, 2019). Generally, the competency also allowed me to understand how to explore and analyze the marketing mix, understand the strategic planning process in marketing and the importance of building relationships in marketing activities.
The other competency that I gained was gaining vital skills required to analyze internal controls and regulations that an organization is required to abide by in the course of doing
business. The competency was importance for me to know how an organization can comply with regulatory requirements and legal requirements for it to operate in an ethical environment that guides most successful business (Chernev, 2019).Through using case studies, I was able to
understand the importance of an organization to identify common financial errors that lead to violation of regulatory and legal requirements for an organization to do business (Dill, 2019). The competency also allowed me to know what an organization can do to prevent intentional theft, fraud through using proper internal controls in the organizational systems (Dill, 2019). This made me complete the business simulation task one and two through incorporating the regulation required to make financial statements that are credible. This will assist in the future in my career to avoid activities that are illegal and fraudulent. The competency also allowed me to gain vital skills on the different legal statutes such as the Sarbanes-Oxley Act and how it can be used to ensure an organization has controls that prevent the violation of regulations and laws that pertain to doing business ethically (Dill, 2019). The other important skill under the competency was knowing the importance of auditors in making sure that the integrity of financial statements is ascertained and upheld. I also learned a lot about the role of the U.S. Securities and Exchange Commission and its importance in making sure that financial reporting is in accordance with the law.
The MBA program also allowed me develop competency in the application of statistical tools to identify the most appropriate alternative decisions that a business can make while in operation and hence manage to complete the business simulation successfully. From the competency, I was able to understand the different statistical techniques and how they can be used in decisions making in real-world applications for a business that operates globally or locally (Machado, & Davim, 2016). This allowed me to complete the simulation by making sure that meaningful data is used to make appropriate business decisions for a global enterprise. The competency also made me understand the importance of regression as a statistical tool and how it can be applied in decision making as a data driven tool for making decisions (Machado, & Davim, 2016). The MBA program made me develop skills in using the different statistical tools
that can be applied to harnessing big data and discover the relationships that exist when solving problems that an organization faces and the patterns in data contribute to making appropriate business decisions (Machado, & Davim, 2016). From the competency, I can generally say that I am comfortable in applying the quantitative statistical techniques, forecasting techniques and limitations, analyzing data using regression analysis and applying statistical techniques to real-world data.
