Write a conclusion for this reflection paper:
Assignment 1
In the group-based assignment, my team has chosen to analyse Netflix’s position within the streaming industry. We picked the Porter’s Five Forces model as we all found it useful for understanding the specific industry environment and easier to apply compared to PESTEL, which I personally perceived as broader. As a business student, I believed that my prior understanding of the framework would help in generating ideas and addressing the challenges encountered during the analysis.
However, during the course of completing the assignment, I realised that my background knowledge was insufficient, as I had not previously dealt with the theory in depth. For instance, the differentiation between threats of substitute products and competitive rivalry was challenging. Additionally, there are nuances of each force that my team failed to consider, such as the implications of Netflix’s original content on their supplier’s power or specifying the potential substitutes for different demographics of users. The subject lectures proved to be extremely useful when my team and I encountered difficulties, such as when we selected the most appropriate industry to base our analysis on. This is because Netflix is operating in a field of converging industries (Narayan & Weinbaum, 2022). In future applications of Porter’s Five Forces framework, I would aim for a deeper understanding of each component and be more cautious to avoid overlapping aspects. More attention would also be given to exploring unique challenges faced by companies like Netflix, which are significant industry players.
Working in a team, I encountered communication problems due to late group formation and varying levels of understanding of the framework among members. As someone more familiar with the framework, I stepped up to lead group discussions, promote clear communication, and ensure that the final output was of high quality. Although it was not easy to lead the team, the process taught me the importance of clear communication and adaptability when collaborating with others of varying expertise levels.



Assignment 2
For the individual assignment, I chose to use the PESTEL framework to analyse Amazon’s e-commerce business strategy. My preconception was that the framework was extremely comprehensive but also very general. I reckoned that this assignment would be challenging as it would test my ability to use a less familiar tool.
During the analysis, despite referring to lecture notes and online resources, I struggled with differentiating between the political and legal factors. Additionally, I found it difficult to incorporate the concept of strategy types (e.g., general, differentiation, focus) into the analysis because it required me to match each external macro-environment factor with corresponding business strategy. However, it is not always the case that Amazon’s business strategy is a direct response to an external factor, but due to an industry force or internal capabilities’ change (Figure 1). By utilising AcaWriter for this assignment, I was able to phrase my analysis to place emphasis on Amazon’s strategy response and articulate my stance clearly (Figure 2). Although my analysis was clear and logical, I received feedback that my critiques were unclear. Some elements of the analysis also included recent news events that Amazon had not yet addressed or responded to, making it difficult to determine the significance of these events for the company’s strategy. In hindsight, I realize that I could have dedicated more time to thoroughly examining the strategic implications of external factors and articulating my critiques more effectively. I would invest more time in understanding the differences between each factor and ensure clarity on assignment requirements.
Undertaking this assignment alone also proved challenging, as the PESTEL framework was more difficult for me to apply compared to frameworks like Porter’s Five Forces. I needed ensure an equal distribution of focus across each part of the analysis to maintain the quality of my work. Despite the challenges, I received positive feedback on the clarity of purpose and recommendations. Through the experience and feedback, I have developed greater self-awareness of my abilities to manage challenging tasks independently. I am now more mindful of the importance of breaking down tasks into smaller components to better manage time and quality.


Overall
In both assignments, I notice that utilising only one framework to identify challenges and make recommendations is insufficient. Porter’s Five Forces model is useful when the objective is to focus on industry dynamics and competitive forces, and PESTEL framework should be utilised when the goal is to analyse external factors that are beyond the company’s and the industry’s control. In order to have a more comprehensive and well-rounded strategic analysis, I could utilise both frameworks to grasp how the industry’s competitive landscape and the macro-environmental factors impact a company’s strategic decisions. Moreover, I will also look into internal factors like a company’s unique capabilities through SWOT and VRIO analysis. This approach would allow me to develop a more profound understanding of the interactions between internal and external factors influencing a company’s strategy.
Additionally, I have discovered the importance of acknowledging and challenging my preconceptions. It was through the continuous cycle of facing challenges, researching for clarification and reflecting upon what I learnt (Figure 3) that I deepen my knowledge of the strategic frameworks. The process allowed me to identify areas of improvement in my analysis skills, solidify my existing understanding, and uncover new insights into these essential frameworks.