Personal Development Plan Business Essay

Personal Development excogitate Business EssayFinance is a career which imposes mellowed requirements on the overall qualities of a person. In this report, I am choosing finance as my career field. First, we will describe a career protrudening methodological analysis in my personal career planning. There are several steps to the career planning process. These steps are occupational exploration (know the career probability), egotism exploration (know who you are and what you want), end making, and plan of action. Second, we will identify several business families in the field of finance and the difference between the divergent affirmable career paths. These include hedge fund manager, sales and trading, finance analyst, and etc. Then, we will make a decision, giving my career map and career plan as a finance analyst. Six consecutive jobs will be presented to allow me to progress towards my dream job. We will also reveal the KSAs and personal qualities required at each job. F inally, a personal development plan is apt(p) with recommendations for future graduates on the different career they could have in a withstandn field after they graduate.1. IntroductionFinance is an attracting and challenging area for youngsters. For a new comer into this field, just financial knowledge is not enough. Other qualities, such as squad spirits, communication skills, and business intuition are equally important for a successful career.With regard to my career goals, I am impelled devote myself into financial area. I have great interest in finance because of its enormousness in corporate development and economic development. Currently, China is comparatively weak in its financial sector. I regard it as a huge challenge as well as a huge opportunity for myself entering this field.2. Career Planning TheoryThe career planning process is composed of several steps. First it is the self exploration, which answers the question of who you are and what you want. Second it is the occupational exploration, which deals with the job opportunities. Then it is decision making, in which you make up your mind of your career. Finally, it is the plan of action, in which you will set up your goals and put it into action ( Barbara et al 2003 Brian et al 1988 Robert et al 2009Samuel et al 1993).2.1 Self- geographic expeditionBefore any career planning, people should have a clear idea about themselves and their expectations of a career. They should ask the questions, such as where do I like to work, indoors or outdoors? Am I good at dealing with the public? Do I prefer to work as a team or do I like to work alone? The thing is that there are no right or wrong answers to these questions, just personal preference. By rethinking of these questinos, they are able to know more about themselves and match themselves to the right occupation.2.2 Occupational ExplorationHaving knowledge of the possible job families is equally important. Details about the work carried out in various occupations bottomland be learnt through a grand number of methods that suffer be used to gather occupational in coiffureion. Some of the methods are listed below, such as online research, personal observation, interview with employees working in the field, books, posters, and TV programs. Usually people use a combination of methods. In this way, they can also get knowledge of the potential income, working conditions, and employment prospects.2.3. Decision doAfter you get the information about yourself and the occupations, it is time to make a decision. From your personal preferences, you should have a good idea of the things that you want in your life. From the job exploration, the occupatinoal requirement, such as the education as well as the work experience you get, will be clear. You can then choose the occupations that will give you what you want.2.4. Plan of ActionFrom the above steps, the particular career is determined. Now it is time to set up a plan to help y ou achieve that goal. First, you should withdraw the of necessity and insufficiency of yourself, such as what kind of education and training is necessary What type of interim jobs are required Second, you should foresee the obstacles which hinder you to get to your career. And thereof you will be able to come up with a plan to overcome these obstacles. All these can be used to form your plan of action.3. executable Career Path for Finance3.1 Hedge fund managerA hedge fund manager will decide how to place the assets in different classes of securities. These include cash, bonds, stocks (domestic versus foreign) and etc.3.2 Finance AnalystsThis involves the processing and servicing of a variety of operational, personnel, and financial transactions. Involves developing, interpreting and implementing financial concepts for financial planning, resource planning, and control of organisational budget. whitethorn analyze and prepare recommendations for financial plans, including annual re source allocations, future requirements, and operating forecasts.3.3 Mergers and AcquisitionsPeople doing mergers and acquisitions are similar to finance analysts. Only that their focus is on synergies, constitute savings, and coinsurance effects that may result from combing firms in similar or dissimilar industries.3.4 Sales and TradingSales and trading encompasses a broad spectrum of jobs deep down an investment bank. Salespeople generate new business by obtaining clients for the firm. Traders concentrate on developing systems and strategies for executing orders to buy and sell securities. companionship of the operations of markets is essential to a good trader.4. My Career MapDuring my study as a business graduate, I have taken courses in various business subjects such as macro and micro economics, accounting and math. In my free time, I read publications such as The Wall Street Journal, The Financial Times and The Economist. I rate the financial websites everyday to get a u pdate on the latest business markets. I am good at gathering information. I can understand the financial situation of a specific company from its balance sheet I can read the economic situation of a expanse from its macropolicy.Moreover, I receive strict training in interpersonal relationships with others. I have skills in communication. Proposal opus and oral presentations is also my competence. Therefore, I consider myself to be fit for becoming a finance analyst. My career map is in Figure 1.Figure 1 Career Map5. My Career Plan Finance AnalystsJob TitleAssistant Finance AnalystJunior Finance AnalystFinance AnalystLevelEntryJunior go throughGeneral DescriptionEntry-level paid uses professionalconcepts to finalise problems of limitedscope and entangledityworks onassignments of limited variety andcomplexity, requiring limited judgment anddecision making.Experienced-level professional whoknows how to apply theory and put it intopractice with full understanding of theprofessional fieldChallengesUses basic professional concepts. Applies campus policies andprocedures to resolve routine issues. Works on problems of limited scopewith moderate control and review.Follows standard practices andprocedures in analyzing situations ordata from which answers can be readilyobtained. Cultivates internal and outside(a)contacts. Resolves a wide-cut range of issues in imaginative as well as practicalways.Knowledge and Skills Basic knowledge of financial oraccounting concepts, processes andprocedures. Understanding of regulations and opera hatpractices concerning financialaccounting and services. Familiar with department chart ofaccounts and related businessprocesses. Effective written and verbalcommunication skills. Active listening, tiny thinking,attention to detail, organizational skills,good interpersonal skills and the abilityto multi-task.Basic knowledge in data collection andanalysis techniques. Service orientation Leadership skills to come through coachingand me ntoring to book staff. Knowledge of core software package programsand systems. Thorough knowledge of finance policies,practices and systems including campus,state and federal rules and regulations. Knowledge of financial data managementand reporting systems. Active listening, critical thinking, attentionto detail, organizational skills, stronginterpersonal skills, and ability to multi-taskin a high-volume environment. Able to independently gather, organize,and perform financial analysisassignments. Advanced knowledge of softwareprograms and systems.Responsibilities Analyzes financial and/or resource dataprepares and summarizes information. With supervision, reconciles,researches and resolves discrepanciesin financial data.Monitors workflow and productivity inareas such as Accounts Payable,Accounts Receivable, Collections,Purchasing and/or Cashiering. Coordinates and monitors operations ofdelegate functional area(s). whitethorn act as central resource for put upstaff. Assists with monitoring productivity withthe goal of meeting or exceedingstandard expectations for timelinessand quality. Identify systematicproblems and propose solutions. Assesses compliance with regulatoryagencies and internal policies. Triages and addresses customerinquiries as appropriate Ensures the delivery of quality customerservice to various constituencies. Applies professional concepts to resolveissues and to perform moderate tocomplex analysis. Gathers and analyzes,financial and resource plans.(Continue)Job TitleSenior Finance Analystportfolio managerCFO / Partner of federationLevelSeniorExpertSenior ExpertGeneral Descriptionbroad job knowledgedeals with problems of diverse scopesRecognized expert. Has significantimpact and persuade on company policy andprogram development.assigned high levelanalytical duties that involve in-depth knowledgeand understanding of numerous variables andinterrelationships. on a regular basis campaigns makes ofcritical importance which carry substant ialconsequences of success or failure.ChallengesMust have good sense of judgment and have proper techniques for obtainingsolutions. Applies wide-ranging knowledge andunderstanding of campus objectives to resolvecomplex issues with campus-wide impact increative and effective ways. Works on most complex issues with little or nocampus precedent where analysis ofsituations or data requires an in-depthevaluation of variable factors. May provide guidance to other personnel orsupervise professional or clerical staff mayserve as team lead. May serve as subject matter expert or proletariatmanager. Internal and external contacts often meet tobroad-reaching plans and objectives.Knowledge and Skills Sophisticated written and verbalcommunication skills. Able to use good judgment and decisionmakingand to solve problems. Leadership skills to provide coaching andmentoring to professional and supportstaff. Expert knowledge of campus and systemwidefinancial processes, policies andprocedures, as wel l as related accounting andregulatory compliance requirements. Analytical skills sufficient to assess, advisedevelopment, and implement financial datamanagement and reporting systems. Able to communicate complex findings andrecommendations Able to identify, analyze, and report oncomplex data. Sophisticated service orientation and ability tolead a team to deliver excellent customerservice. Strong inter-personal skills and ability to workeffectively across the organization at alllevels. Skills in project management, leadership, andprocess re-design. Ability to multi-task effectively in a varied, highvolume environment. Sound judgment, decision-making, criticalthinking, and creative problem solving. Understands and anticipates differentperspectives. Leadership ability some(prenominal) inside and outside ofthe department. Advanced knowledge of software programsand systems and the ability to use themstrategically to achieve results.Responsibilities Ensures that financial processingfunct ions are performed with accuracyand that daily operations run smoothly. May act as team leader for support andlower level professional staff. Train staffand create effective teamworkenvironment. May review, process, and approvefinancial data and transactions.Documents procedures for financialactivities. Participates in internal audits andprocesses. Reads professional literature and attendsseminars to keeps abreast of regulationsand best practices. May serve as a project work leader, projectmanager or subject matter expert. Interprets policies and advises campusdepartments accordingly. Directs the initiation of and/or designssummary reports and background materialsregarding a wide variety of internal andexternal policies and regulations to address arange of issues and the organizedimplementation of new services, proceduresand/or policies. Coordinates the gathering of budgetary andresource information during planning stages. Independently performs highly complexfinancial or resource r esearch and studies forboth internal department and externalconstituents and makes recommendations tomaximize financial or other resourceoutcomesAnalyzes and prepares recommendations for new services, systemsor processes that have an impact outside ofthe school or department. Participates in audits of internal records andprocesses. Develops and implements financialtransaction processes and procedures maytrain campus staff on financial activities. Regularly leads analyses of industryapproaches, trends and best practices.Develops and implements improvementsand/or new approaches and services. Ensures timely and accurate financial activitycapture and reporting.6. My Personal Development PlanFollowing my career plan, I am going to present my personal development plan in order to prepare to the first job after graduation I need to begin with to reach my dream job. Floodgate and Nixon (1994) described a form of personal development plan with SMART goals. I will apply their format here.Focu s AreaCurrent StateDesire StateActivitiesResourceTimelineLanguage SkillsEnglish reading and listening is fair weak in writing and speakingSophisticated written and spoken skillsTaking English courses get along English writing and speakingOnline English Learning website English mp3 English reading books3 monthsCommunication SkillsBasic Communication SkillsActive listening, critical thinking,organizational skills, good interpersonal skillsWork with others build up team spirit and team workingBooks on Communication and team work.1 monthsFinancial KnowledgePrepare for CFAPassing CFA Level 1Taking CFA coursesCFA books and exercises9 monthsAccounting KnowledgePrepare for ACCAPassing ACCA Part 1Taking ACCA coursesACCA books and exercises6 monthsData handling techniqueselimentry knowledge in ExcelFamiliar with minitab, advanced ExcelPractise data collecting and processingSoftware(Excel/ Minitab) Online tutorial1 month7. Conclusion and RecommendationThis report is about my personal develop ment plan as a finance analyst. I follow the framework of career planning in developing my personal development plan. In career planning, we must identify our likes, dislikes, assets, and weaknesses. This helps us know what we want and who we are. Then we should identifying potential career opportunities. Finishing these steps, we will be able to choosing a career path. After making a decision, we should square off targets and an action plan to achieve our goals.As new graduates, everyone wants to find his/ her perfect match job. Always remember, learning and building up your knowledge will provide you the opportunity to the dream job. On the other hand, youll need to develop the necessary knowledge to understand the working environment, tasks, and responsibilities. All these combined will prepare you for your career. plainly no matter what career path you are on, for your plan to work out, you must work hard and continuously learn more so that you can do more.