Professional Development for Strategic Managers

COLLEGE OF TECHNOLOGY LONDON PERSONAL DEVELOPMENT PLAN

PROFESSIONAL DEVELOPMENT FOR STRATEGIC MANAGERS Prof: Dr. FRANK GYAN EDEXCEL ASSIGNMENT 2

YASHWARDHAN JAIN STUDENT ID: 105757-87 29th July, 2011

Yashwardhan Jain

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Professional Development for Strategic Managers

Table of Content Sr. No. Topics Page no

1 2 3 4 5 6 7 8 9 10 11 12

Introduction Definition Objectives of Personal Development Plan Personal Development Plan Personal Achievements Personal Circumstances Long term goals Action Plan Obstacles Strategies to overcome obstacles Conclusion Reference and Bibliography

3 3 3 4 5 6 6 7 8 9 10 11

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Introduction: Learning is a continuous process and an individual develops his personality with each experience. For shaping up a career of any individual a plan is required. Such a plan that encourages learning and gives people an opportunity to add new skills in their portfolio, that helps to attain personal as well as professional goals is called as Personal Development Plan. The responsibility of formulating and implementing this plan is on the individual himself. It helps to clear our minds from all second thoughts that we have in our mind about our professional life and once these targets are achieved there is a sense of fulfillment that drives people to achieve and experiment more with their life (Armstrong, 2004). The report ahead will produce a personal development plan by identifying gaps in the existing skills and determining new skills required to achieve long term and short term goals. PDP defined: According to QAA (2004) PDP is a Structured and supported process undertaken by an individual to reflect upon their own learning, performance and achievement and to plan for personal, educational and career development. Objective of PDP: Create and develop self awareness in and individual. Help an individual become more efficient and confident self-directed performers. Determine personal goals and assess growth towards their attainment and Promote positive attitude towards learning.

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Personal Development Plan: Stage 1: Understanding where I am now? I belong to a Jain family in India, who are known as a businessman or entrepreneur all over my country. So right from my childhood I have a vision and passion of starting my own business venture. I had been a part of family business since I was eight years old. I have been good in academics and have scored distinction grade till date. Being good in studies, teaching and some of my teachers have always influenced me to be a teacher. I have been teaching students in my country and love to explain them importance of understanding things and practically applying them in their life instead of just mugging and writing it on paper. After completion of my graduation in Business management studies, I started a business in partnership with my relatives. We dealt in excavator spare parts which were imported from various countries around the world. Though the business was going strength to strength, the partnership didnt work out as there were difference in approach of me and my partners towards business. After that I worked with HDFC financial securities as a stock broker for the period of six months before coming to London for completing my MBA. Where I want to be? In the coming Five years time I see myself as an Entrepreneur with a new venture in retail sector and a teacher in a reputed college in India. How will I get there? Currently I am pursuing EDEXCEL course which is quite challenging and has increased my will power manifolds. I am doing this to get a post study work visa, so that I can work in UK for two more years after course completion, get in-depth knowledge of the retail industry in which I am currently involved and arrange some finance, then go back to my country and start a retail business. Also teaching being my hobby I would like to take up a teaching job just to fulfill my liking towards teaching in my country so that I could direct and channelize young blood of my country for their and Indias brighter future. I would also like to take up teaching job as I feel it always keep you lively, happy and cheerful. Thus I would like to be an Entrepreneur and a Teacher at the same time to fulfill both by passion towards business and enjoy my hobby of teaching younger generation.
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Stage 2-Analyzing Current Strengths: Type of Achievement Qualification Achievement MBA Success till date University of Trinity Saint David. In University of Mumbai Grade: Distinction

Work Achievement

Graduation Business Administration studies Diploma in Diamond Assortment Course Certification of a National stock exchange in Equities and Derivatives Laxmi cars Pvt. Ltd.

Panchratna Mumbai. National stock India.

Institute, Exchange,

Worked as a youngest customer service representative on the shop floor. Worked as a Sales Associate Anupam Stationary In Stationary retail chain and was made as electronics department head in three months. Rishabh International Business In partnership and started making profit from the ninth month of the startup. This was quite good taking into account the initial investment of more than 15000. Worked with HDFC Always accomplished my financial securities as sales target right from first month without much prior stock broker
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training.

Personal Achievement

Have been a head of organizing committee of various college festivals. Member of UNICEF

Learnt skill of leading people and organizing under extreme pressure. I am able to be more empathetic towards people as I have participated in programs to spend time with orphans.

Stage 3-Personal Circumstances: Item Hours Activity Work Education Leisure and travel Socializing and relaxation Others Education Leisure and travel Socializing and relaxation Others Commitment per month 160 80 100 80 90 300 200 200 100

Money

Stage 4-Long term Goals: Item Personal goals Goals Buy a house for my family at my native place. Get married Go on a tour to Europe, Egypt, Morocco and Australia.
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Professional goal Have my car and a motorbike. Start a retail business in India. Work as a Lecturer in my previous college back in India. By the end of 5 years I would be able to earn at least 2000 a month.

Stage 5-Action Plans: After completing my MBA by Feb 2012, I would like to work in retail industry full time in UK for two years with an expectation of earning at least 25000 per annum. By September 2012, I want to clear my debts of 6000 and Savings after that, which would be minimum of 600, would go as an investment in my business. In the mean time I would go to countries like Nigeria and look for business opportunities there. So by December 2014, I see myself financially stable with earnings of at least 2000 per month. After that I would go back to my country and run business from there and become a lecturer in my previous college to fulfill my love of teaching. Personal Development Plan: Goals Become an MBA Success criteria Actions Passing Dissertation Focus on Education by Feb 2012. Implementation It will help me to learn business indepth. It will help me to pay off my debts and save necessary capital for my business. Profits from my business would be used in buying this house. Investing capital into retail venture and then striving to make it a
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Work in retail chains Continue working Work hard at job for two more years with Marks and place to get Spencer recognition and promotion Family A large haveli Start my own retail (House) at my native venture native place Business Birth of MAASAA Save money and get Corporation experience of retail sector.

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successful venture

Obstacles in attaining set targets: Obstacles are the speed breakers in our journey towards attaining goals. Some of them are very obvious while some of them are unforeseen. It is very important to understand that tumbling at any obstacle doesnt mean that the journey has ended. It means that it is time to reenergize ourselves and move ahead. According to Winston Churchill Success is just moving from one failure to another without any loss of enthusiasm (Swindell, 1999). Some of the expected obstacles in my journey would be: Lack of knowledge: With changing technology and business environment, Lack of knowledge would be one of the biggest obstacles in my career growth plan. Availability of Finance: To make my dreams into reality availability of adequate finance whenever required would be an obstacle as well. Family and Friends: Getting the trust and support from family and friends could be another mountain to climb before I reach my future goals. Change: The changing time and environment can be both an opportunity and a threat for my future goals. If the change is positive for example, Indian government starts promoting entrepreneurs by providing them with necessary knowledge in their field through emails then that would boost my performance and help me a great deal in achieving my goals.

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Strategies to overcome obstacles: Every problem has a solution and if the problems are identified earlier it is easy to develop plans to counter them. The strategies to counter the above mentioned obstacles are: Knowledge Plan: With the use of new technology like news feed, online news paper, Entrepreneurial Magazines, I would keep myself updated with latest development in the field of retail business and other environmental factors affecting business. Family support plan: Communication of my goals to my family is very important as their support would play a very important role in my success. Without them I would be alone in this journey but with their support it would be a team. Planning my finances: I have planned to save a minimum of 600 every month after getting fulltime job and for my business startup and fifteen percent of rest of the salary for contingencies as that would help me to face any unforeseen challenges with confidence. Openness to change: The knowledge plan would give me adequate information to predict future changes and I would always try and maintain a positive attitude towards change. Instead of looking at it as a threat, I would take it as an opportunity to move ahead in my personal development plan.

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Conclusion: The above report gives me a clear understanding of my future goals. It has helped me to delete all vague ideas and focus on being an entrepreneur and a teacher in my country. The middle section of the report discusses about my strength, achievements, future goals and plans to attain those goals. In the concluding section, it identified the possible obstacles that could delay my progress so the strategies developed would help me to be ready for any unforeseen changes and react accordingly.

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References and Bibliography:

Abraham, M., Jayashree, K., Kumar, A. and Poornima, C. (2003) Entrepreneurship Development. New Delhi: New Age International (P) Ltd. Armstrong, M. (2004) Strategic Human Resource Management-A guide to action. 4th edn. London: Kogan Page Ltd. Clifford, J. and Thorpe, S. (2007) Workplace Learning and Development. United Kingdom: Kogan Page Ltd. Mumford, A. (1997) Action Learning at Work. United Kingdom: Gower Publishing Limited. Mumford, A. (1994) Handbook of Management Development. United Kingdom: Gower Publishing Limited. Swindell, M. (1999). Evaluation of general psychology program and the career pattern of past students. Carolina: East Carolina University.

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