Reflective Journal - Assignment Example

Portfolio Student: Course Name: Instructor: Institution: Department: Date: PART ONE: THE REFLECTIVE JOURNAL A. Your reflections on what you have LEARNED from the lectures, seminars and additional reading or activities. Please use the questions below to structure your response Personal SWOT analysis: outline your personal strengths, weaknesses, opportunities and threats. Since the start of this course, I have developed a number of competencies that are aimed at developing my professional competencies in the field of consultancy. Strengths I'm very creative and enterprising. I often seek a new perspective in addressing challenges and problems within the consultancy profession and classwork. I have specific transferable skills for communication, teamwork I have the ability to ask key questions to obtain more information on key areas in the field of consulting. I have developed the tendency, to constantly ask "why" on diverse levels I'm completely committed to the success of any project I undertake I have always exhibited perseverance and resilience through demanding situations and challenged myself by taking on complex responsibilities. Excellent critical analysis skills Great interpersonal relationship abilities Weaknesses I have a strong, driven need to do things rapidly and take them away from my "to do" list, and sometimes the quality of my work is compromised as a result. This need to get things done fast is a source of stress for me when faced with too many tasks. I am constantly nervous when presenting ideas to classmates in class. Consequently, this fear of public speaking regularly eliminates the passion for the subject in my presentations. I lack relevant work experience Opportunities Coursework training offers great opportunities for developing necessary transferrable skills in the areas of consultancy I'm participating in an employability workshop. This will allow for strategic networking, and also offer some great training on how to prepare for employment in consultancy. Creating my professional portfolio offers an opportunity to establish and develop my weak areas. Further research in the field of consultancy. Work placement is a great opportunity to learn on the job. Threats My competitors with superior skills, experience, knowledge Competitors with better job-hunting skills than me I am limited professional development in field, so it may be hard to remain marketable The shifting current economic climate has resulted more refined graduate competencies and limited opportunities for new graduates. Many firms have laid off staff members, and others are considering further cutbacks. Those firms that are hiring in the field require more abilities from graduates. What key skills, abilities and competencies do I need to develop to move into my chosen career area? Interpersonal skills and Ability to communicate Self-confidence Self-management Initiative Effective leadership skills Flexibility and adaptability Self-knowledge Problem solving skills Competitiveness Analytical and proactive thinking Career relevant literacy Solid work ethic Motivation, commitment and tenacity What progress have I made so far in developing these? As an individual, I have been able to develop most of the required key skills and competencies in the consultancy field. Particularly, I have been able to develop my interpersonal skills, self-knowledge, flexibility and adaptability, critical analysis and research skills, leadership among others. However, I need to develop my competency in my ability to communicate specifically in the arm of presentations. Alongside this, I need to develop my self-confidence. What else do I need to do? To develop the extra competencies I need to engage in professional development activities such as internships, market research, attending career workshops, extra reading and seeking mentorship from role models in the consultancy area. What do you think are the most important things you should do when trying to obtain a job? Create an excellent first impression Have a strong CV Excellent self-presentation during interviews Demonstrate motivation and self confidence Demonstrate commercial awareness B. Your reflections on what you learned from the compulsory employability development activity (750 words). Use the questions below to help structure your response. Which activity did you engage with? Individually for the compulsory employability development activity, I participated in the workshop titled ‘A Career in Consulting’. The workshop was part of the University of Derby Award in Employability, Leadership and Management. What happened? The workshop was very informative especially with regard to the key skills requires for consultants in the current market. The workshop also informed on the structured thinking that inspires case interviewing and general consulting, and involved interpersonal skills such as networking, working with clients, working in a cross-cultural environment, and change management - that contribute to success in the field. The workshop also highlighted the ethical issues that arise in consulting and current graduate requirements and market characteristics in consulting. Further, the workshop offered key insights on the process of acquiring employment of the field of consulting, such as the key recruiting firms and the cycle of consultancy. What key skills did you have to use and develop? Some of the skills I was required to apply were analytical and proactive thinking skills, whereby I was able to understand the themes of presentations and ask key questions regarding the field of consultancy. Further, the workshop tested my IT and communication skills, in the area of conducting presentations. Additionally, other skills tested in the workshop included my interpersonal and team work skills, problem solving and individual performance. What worked well? The best skills that worked for me at the workshop were the interpersonal skills and excellent analytical and proactive skills. Furthermore. I performed quite well in the team project and problem solving sections. What could you do better next time? One are that I require improvement is in my presentation ability. I am very nervous while doing the presentation and would like to develop and improve this area. What have you learned from the experience? In total; the workshop activities highlighted a number of key areas that I need to develop on in order to increase my employability as I graduate. These areas induced developing my ability to network, taking responsibility for my career growth, commercial awareness, self-confidence, and work readiness. PART 2. DISCUSSION OF THE RELEVANT GRADUATE LABOUR MARKET THAT IS RELEVANT TO YOU (BE SPECIFIC – SECTOR, INDUSTRY, DISCIPLINE, COUNTRY ETC). 500 WORDS in Dubai banks Against the backdrop of rapid economic growth, flourishing tourism and construction industries and explosive population growth, the financial services sector is quietly developing within Dubai. Indeed, the Dubai financial services industry, particularly, the retail banking sector is projected to grow by almost 10% over the next five years. Moreover, recent studies forecast the growth of the industry due to sector wide interviews that reveal that most banks in the region had plans to invest in retail operations. Furthermore, the Emiratisation in the banking and finance sector has been developing comparatively quickly. As such, the effects of the 2008/09 financial crisis notwithstanding, the majority of Islamic institutions continue to report profits. As such, the industry growth projections in the Dubai retail banking graduate employment sector appear very reliable (Ladimeji 2012). However, while the Dubai retail banking sector is growing due to increased demand for financial services, the supply of talent in terms of labour is especially weak. In particular, the banking sector is presently undergoing talent and skill shortages and has significant predicted skills shortages towards the future. As a consequence of significant skills gaps, the Dubai banking industry has been categorized by poor customer service. Further, competition for retail banking talented and skilled individuals within Dubai has become ferocious, while, labour costs have been described to be escalating sharply to allow banks to compete at par, with the public sector. On the other hand, the graduate labour market is also projected to grow. For instance, the current average graduation age in Dubai is set at between twenty two years and twenty four years. Besides, there is a large expatriate workforce employed in Dubai, whereby, only 25-35% of the entire working population are Dubai nationals. This presents an opportunity for graduates since more than half of the Dubai citizenship is below the age of 18, the government has instituted actions to generate new work opportunities for Emirati nationals in order to decline the dependency on expatriate labour (Expertise in Labour Mobility 2009). The implications of this state of affairs is that the Dubai retail banking sector is currently an employee’s market, and is a great opportunity for graduates and retail banking professionals to acquire employment in Dubai. Accordingly, there are numerous opportunities for graduates, qualified professionals and both locals and expats. Notably, graduate employment opportunities exist in the areas of accountancy, funds and asset management, sales management, as well as in investment analysis and consultancy (Ladimeji 2012). Furthermore, since the banks in Dubai and the GCC in general are faced with increased competition against the public sector for local employees, retails banks are necessitated to offer superior remuneration packages and benefits, to appeal to and retain local staffs, which include better salaries, further education opportunities and fast-track programs to leadership positions. in addition, some of the specific graduate competencies sought after in this sector include commercial or industry awareness; strong communication and networking skills, customer service experiences; sales or persuasion experiences; ability to work in a team; management and organisational skills; and a solid work ethics (Ladimeji 2012). In essence, the Dubai retail banking sector is an attractive opportunity for local and international graduates. Especially, it is a suitable opportunity for European and US retail banking graduates where the banking sector is characterized by massive downsizing and overall high youth unemployment rates. Moreover, the Dubai banking sector is particularly lacking in customer service expertise, which means that the experienced retail banking staff from Europe and the US possess the expertise that is especially sought after in Dubai (Ladimeji 2012). PART 4: PERSONAL DEVELOPMENT PLAN Objective/Goal (Be Specific) Key Actions/Milestones (Things I need to do to achieve objectives) Timescale (Be realistic) Support Required (Help/resources/ information I need to achieve this?) Progress Made (How am I doing so far?) Develop confidence in presentations Practice through doing numerous presentations Engage in self-help activities that help build self-confidence Participate in team activities that require addressing audiences or public speaking 3-4 months IT tools such as PowerPoint software Self-help books Significant progress in gaining self confidence Acquire relevant work experience and competency Career placements Internships Attending career workshops Participate in mentorship programs Throughout the study duration Access to employment and internship placement firms Good CV Recommendation from course instructors So far I have attended career workshops that have illuminated the need for strong transferrable skills Develop a strong educational background in the field of consultancy Extensive study and literature review in this area Acquire relevant knowledge from coursework Extensive market research and analysis Scoping interviews with relevant role models and employers in t field Throughout the study duration Text books Lecture materials Internet Business contacts Currently I am at average in terms of knowledge regarding the industry Develop my employability characteristics Engage in activities that develop and need the use of transferrable skills Engage in activities that allow me to demonstrate and present my employability skills or market myself, such as interviews Seek guidance from industry role models Self-assessment activities Entire study period and beyond Strong CV Strong web profiles Mentorship programs I have developed most of the necessary transferrable skills Bibliography Expertise in Labour Mobility 2009, Country Guides for International Students series, i-graduate. Ladimeji, K 2012, May 06, Why You Should Bank On A Career in the Dubai Financial Services Sector, Retrieved Dec 14, 2012, from Dubai Employment, Tips: http://dubaiemploymenttips.com/why-you-should-bank-on-a-career-in-the-dubai-financial-services-sector/ Read More