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The global pandemic enabled me to see how businesses adapted to face the new challenges of Covid-19 and how their main goal was survival. One example is John Lewis, which had to permanently close eight of its department stores so that they did not operate at a loss and also to recover financially from the Coronavirus pandemic. When reading about what happened to John Lewis, it made me want to read more about how Covid-19 had an impact on other markets such as the clothing industry. Moreover, when listening to Rishi Sunak’s Budget Statement, allowed me to see the many ways the government is helping businesses that are underperforming to boost their revenue and profits. For instance, the Chancellor announced the £4.6 billion grant and the reduction in the cooperation tax to support businesses. This means that the profits for businesses will rise which will lead to positive growth in the economy since the Covid-19 pandemic.
When researching business, I discovered that there are many types of management styles but the one that stood out to me was the democratic management style where employees can give their opinion and feedback on the decisions being made as a business. For example, at John Lewis, all employees are considered partners. Being partners means that they have an input into the decisions being made. I think this is important so that businesses can see what they can do to be more productive and efficient. Added to that, John Lewis put their staff’s well-being first and decided to delay opening their stores when businesses started to reopen. This shows that they care for their staff which makes them feel valued which boosts their motivation to help improve their business and as a result, they offer great quality products and excellent service to their customers.
At a taster day at Kingston University, I found human resource management quite intriguing because it explained how it helps the business in many ways including in administration and management. I also learned that by taking this course at university, there would be good job opportunities for me. Over the two years of studying A-levels, I have learned how to work under pressure and be organized. Studying A-Level economics supported my interest in business when learning about business behavior and markets. Learning about the different market structures I saw how they were different in terms of what degree of power they had. The concept of game theory was interesting as I learned that businesses can compete in many ways in terms of price and non-price factors. I would like to study business management as I would gain a wider understanding of all areas of business such as marketing and people, finance and management rather than just focusing on the economy.
During my work experience at Osterley Park Hotel, in administration, I learned how to interact with customers, work independently and work under pressure. I was able to have an insight into what it’s like to be in the workplace and how to cope with the workload. The lockdown was a benefit for me as I was able to develop my research skills, familiarised myself with using Google Classroom and using live platforms such as Zoom to communicate with others, and also overcome any technical issues I may have encountered. Completing a MOOC course on business management with Kings College, I learned why and how profits are essential for a business. By doing this course, I enhanced my knowledge and understanding of businesses and management.
Going to university means that I will get the chance to change as a person, meet new people, and take more responsibility and I feel that I am ready for that challenge. I hope my future studies in business at university will give me a different perspective on the business world. I believe that I am ready for university and I really look forward to seeing where this degree will take me in the future.
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