Applied Business Project
Applied business projects typically entail a substantial amount of research work that provides the intern with a chance to use their knowledge and skills through the investigation and analysis of a complex business problem or management issue forming the basis of the internship. During my internship, my applied project business project revolved around the question how the digitization of retail sales impact marketing strategies in the telecommunications industry in India.
At Mobilinq my position as an intern was that of an assistant manager. I got the opportunity through a referral from family/ friend. During the short tenure, I gained invaluable experience and insight in the telecommunications industry. I directly got to see how competitive the sector is in India. The research project conducted was helpful both to the organization and to me as an Individual. My mentor played a crucial role both in the research and the learning process.
I knew the telecommunications industry was big but I did not quite comprehend its real size up until during the research. India potentially has a vast of financial potential per the results of the analysis. The key players in this industry include the Media. Apparently, the Media industry is the most critical drivers of the telecommunications industry. I also realized just how much the telecommunications industry is dependent on the digitization of news and the central role played by digital advertising agents both local and international ones.
Per the analysis, the future of the telecommunications industry is set to be influenced heavily by analytics firms. For instance, I learned that companies like Iconisation are predicated on offering new digital products to stimulate the growth of the telecom sector. Consequently, firms dealing in telecommunications are advised to invest more in omnichannel sales. Such services could open up new research areas like the effectiveness of the new platforms in growing the industry as a whole. Additionally, I saw that the introduction of numerous digital process would increase the number people online. The current avenues for measuring customer satisfaction can be improved by digitizing them to evaluate the growing user base.
Moreover, I was able to understand the vast potential in social media as more and more people are joining it. This trend is the new frontier for businesses and radical marketing strategies. For example, through social media, I discovered that people could channel feedback directly about a product to the manufacturer while firms get direct access to their clients without intermediaries.
As far as the limitations of the analysis go, I think I found at least Five in my analysis. The first one is the external factors considered during the study. Most of them were highly dynamic which made it hard to predict the how and why these factors would influence the direction of the telecoms sector. The second element is subjective depending on the person going through the results. The presentation or discussion of the analysis may appear simple, but it is sufficiently detailed and well researched. All the attributing factors are discussed to a degree of impact which makes the observing eye value the analysis. Thirdly, collecting all the vast amount of data involved utilizing pertinent information obtained from external sources. Although the process was both tiresome and costly, it strengthened my resolve and critical thinking skills. Fourth, the analysis was limited by the scarcity of freshly updated information. Fortunately, I was able to find reliable data from as recent as 2016. Fifth, the sheer size of data used in the analyses may sidetrack the readers from the relevant findings. Accordingly, I carefully laid out both the results and the discussion in a way that the reader would easily blend the secondary information with the primary findings. Therefore, the analysis had a few limitations, but I managed to navigate out successfully.
The internship was also crucial in building upon my professional and personal competencies. I acquired the practical knowledge in international marketing. Through the research and my interactions with the marketing team, I learned how to apply the concepts I had acquired in class about selling the right product to the right customer. I was also able to gain skills in operational management. Hence, I now know how to handle day to day operations including but not limited to customer handling, inventory management with adequate planning and due business practices. Furthermore, my assistant managerial position accorded me first-hand insight on how to be a competent manager. I was able to apply the academic theory through contributing to managerial effectiveness and handling time pressures. Finally, through the internship, I gained competencies in financial performance management. I can now apply the concept in real life accounting situations like profit and loss statements, balance sheets and other financial records. As a result, the internship opportunity at Mobilinq has been significant in advancing my business knowledge and skills.
In conclusion, applied business project are great opportunities for an intern. I got a position at Mobilinq where I have been interning as an assistant manager. While at the job I researched into the telecommunications industry. While undertaking the research, I was able to view the sector from whole other perspectives. There were visible trends and links all over. Although the analysis I use presented some limitations, I was able to overcome them. Also during my tenure at the company, I was able to put into practice the theories I had learned in class as well as acquire practical competencies.