This report explores the benefits of ongoing professional development, employer expectations for managerial positions, self-assessment using SWOT analysis, learning theories for personal and professional development, and evaluation of skills and competencies for employment in a managerial position.
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INTRODUCTION.......................................................................................................................................3 MAIN BODY..............................................................................................................................................3 1. Examination of the key benefits of on-going professional development for different stakeholders within your selected organization............................................................................................................3 2. Investigation and evaluation of professional employer expectations of skills and competencies within your selected organization in relations to a managerial position...................................................5 3. . Assessment and evaluation of your own abilities, skills, and competences in relations to a managerial position by using a personal SWOT analysis and identification of team characteristics you have in line with Belbin team roles..........................................................................................................6 4. Review of a range of learning theories and approaches that you can use for your personal and professional development........................................................................................................................8 5. Critical evaluation of your own skills and competencies to meet the employer expectation of professional skills required for employment within your selected organization in relations to a managerial position...............................................................................................................................10 CONCLUSION.........................................................................................................................................10 REFERENCES..........................................................................................................................................11
INTRODUCTION In today’s environment, there is intense competition in employment opportunities and career progression as well. This competition forces employees or individual to learn every knowledge that forms the part of requirements of a employer. This report focuses on making self assessment in accordance of desired professional field. This report is a blueprint of directions that an individual can follow so as to achieve desired goals in career path. To prepare this report, chosen organization is Marriott International. Chosen professional field is financial manager. This report will attempt to outline different requirements for a prospective financial manger and also discusses about different sets of skills those must be possessed by an individual playing role of financial manger in an organization. Furthermore, different learning styles have been applied to showcase about different requirements and learning that an individual in managerial position must have. There is also SWOT analysis of own competencies and this will assist further in formulating an effective professional plan. MAIN BODY 1.Examinationofthekeybenefitsofon-goingprofessionaldevelopmentfordifferent stakeholders within your selected organization. Professional development refers to the process of continuous learning and this is done with a view of earning and maintaining professional credentials. These credentials further helps in gaining an edge over students or aspirants in the same field. This process is assisting the completion of academic course or any learning opportunity in an efficient manner. This professionaldevelopmentcanbecateredinvariouswayssuchas,casestudymethod, consultation,coaching,andcommunitiesofpractice,lessonstudy,mentoring,reflective supervision and technical assistance. There may be some other methods too.In context of chosenorganization,therearevariousongoingprofessionaldevelopmentprogramstaken forward and they are not only beneficial for employees but also provide benefits to employer. This is explained as below: Advantages to employees:
Intrinsic motivation: This is an act of doing something on their own and there is not expectationofexternalrewardforthistask.Ifanemployeegettingprofessional development, than this may involve learning process of that employee. This whole process will lead to gaining interests in various fields and employee will also start doing that task as he or she may find that enjoyable and interesting as well. This will lead to increased efficiency of that employee and hence, a great factor for improvement in career path of that employee. Personal satisfaction: To make an employee stay in an organization, the most important factor that impacts this outcome is the degree of satisfaction that employee is receiving being in employment terms with that organization. Ongoing professional development can help an individual to gets satisfied as this process is giving boost to level of skill set and knowledge aptitude of that employee. This reward is enough to satisfy an employee and he will be able to apply for future better prospects also. Increased employability: As discussed above, professional development is a process which individuals are getting learning about different requirements that are important for an individual to possess in order to move forward and also upward in the career path. Professional development is a process which gives addition to values and skills of an employee, which makes that employee in more demand for other employers as well. This is better in both aspects, financial and non financial as well. Added value to resume: Professional development is a process which adds skills and aptitudes to an individual which he can write in the resume. As the resume is the very first impression that goes to an employer, therefore, it will help that individual to leave a very good image in mind of employer that will help that person to go through the selection process at a convenient manner. Advantages to employer: Skilled workforce: Professional development program plays the main role of improving skill set of an employee. This will help those employees to perform better and it will give the benefit of improved productivity and profitability to employer, this is due to reason that employees are getting more skilled and knowledgeable person.
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Up to date knowledge: This process is assisting both employer and employee to gain knowledge about changes in dynamic environment and this will help employer in formulating effective strategies so that threats and weaknesses can be overcome easily. If employer will have strong knowledge about all the factors that, it will enable them to protect the organization from any serious hazards, such as, increased rate of employee turnover. Competitive advantage through human capital: One of the most important asset of any company, specially a company operating in hospitality industry, is human capital. As Marriott is a firm which involves direct interaction between employees and customers. If professional development is carried out in efficient manner, than it will lead to improved performance of employees and finally good serving to customers. If customers are satisfied, they will become loyal to hotel and hence, givens competitive advantage to hotel. Organizational brand image: In a large organization like Marriott, employees form the most important part of marketing about company’s image in market also. If employees are satisfied, they will spread a good image of company in market and hence, it will lead to building of a good reputed image of organization in market. Employees will be satisfied if they are gaining what they aspired and expected from that organization. to fulfill this need, professional development is the most appropriate tool. 2. Investigation and evaluation of professional employer expectations of skills and competencies within your selected organization in relations to a managerial position. In this report, chosen organization is Marriott and aspired role is financial manager. For this role, following skills and capabilities are required: Leadership: Financial managers are individuals who bring together all the efforts of whole finance team. Finance is the foundation of any organization and it helps in taking on every operation. Therefore it is essential that finance managers are bringing the team together in effective manner. Managers know how to enhance efficiency and productivity while maintaining confidence in their ability to move the company forward. Effective leaders demonstrate the ability to direct others and delegate tasks. Good financial
managers take charge of situations and form effective solutions to encourage trust in their leadership skills. Problem solving: Most significant quality of a financial manager is that he is capable of ensuringthatproblemsaresolvedonthebasisofvariousanalyses.Hehasthe responsibility of analyzing budgets or calculation of risk associated with an investment proposal. Managers have a deep understanding of the company's financial goals and find effective ways to meet those goals without jeopardizing the business. Communication: Since not every person in a company understands complex financial data or documents, effective finance managers must have strong written and verbal communication skills. Finance managers are able to explain complicated formulas or analysis to present information in an accessible manner. Finance managers may work with many departments, and the ability to alter their communication style to easily convey information is a vital skill for successful managers. Mathematical proficiency: The main responsibility of financial managers is to work with large sums of money and to work in efficient and effective manner, it is important that they are relying and knowledgeable in mathematical abilities. Another important quality is of compiling and analyzing data. They should also have knowledge of international finance so that they are capable to work on figures of a large organization like Marriott. 3. . Assessment and evaluation of your own abilities, skills, and competences in relations to a managerial position by using a personal SWOT analysis and identification of team characteristics you have in line with Belbin team roles. In the given scenario, I am aspiring to become a financial manager and for that purpose, I need to analyze my strengths and weaknesses which will help me to move forward in my career path. Following table shows about identified qualities in four quadrants of SWOT analysis. STRENGTHWEAKNESS Communication (Verbal) Motivation Identification of resource Planning Time management Lackofunderstandingofprofessional standard Less knowledge of other languages
Relationship buildingDecision making OPPORTUNITIESTHREATS Gain the higher position Improve knowledge of hospitality operations Proper management of resources Increase level of confidence and leadership Competition level Changes in the policies and process More use of technology Difference in perception Belbin team roles: Dr Meredith Belbin studied team-work for many years, and he famously observed that people in teams tend to assume different "team roles." He defined a team role as "a tendency to behave, contribute and interrelate with others in a particular way" and named nine such team roles that underlie team success. Action Oriented Roles ShaperChallenges the team to improve. ImplementerPuts ideas into action. Completer Finisher Ensures thorough, timely completion. People Oriented Roles CoordinatorActs as a chairperson. Team WorkerEncourages cooperation. Resource InvestigatorExplores outside opportunities. Thought Oriented RolesPlantPresents new ideas and approaches.
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Monitor-EvaluatorAnalyzes the options. SpecialistProvides specialized skills. From the above table, financial manager is that team member which is playing the thought oriented roles in a team in the hotel. This is due the reason that they are basically planning and implementing the financial plans, they have the responsibility to monitor and control different factors of a financial plan. 4. Review of a range of learning theories and approaches that you can use for your personal and professional development. There are different learning theories those can be adopted to successfully implement the personal and professional development plan in a large organization like Marriott. Two of the significant theories are explained below: HoneyandMumford learningstyle: it is a concept which involves identification of four distinct styles of learning or preferences:Activist,Theorist;PragmatistandReflector. These are the learning approaches that individuals naturally prefer and they recommend that in order to maximise one's own personal learning each learner ought to: understand their learning style seek out opportunities to learn using that style
Kolb’s learning style: Kolb states that learning involves the acquisition of abstract concepts that can be applied flexibly in a range of situations.In Kolb’s theory, the impetus for the development of new concepts is provided by new experiences.
5. Critical evaluation of your own skills and competencies to meet the employer expectation of professional skills required for employment within your selected organization in relations to a managerial position From the above report, it is clear that what are the required skills by an employer to take in an individual at the position of financial manager. They are Leadership, Problem solving, Communication and Mathematical proficiency. On evaluation of myself, I found that I have the capabilities of leadership and fluent communication skills. In addition to this, I also have a clear hand in mathematical proficiency. To support this quality of mine I have also attempted to develop my knowledge about different theories of finance subject. I also keep updating my knowledge set through keeping a track on any changes in dynamic finance market. This helps me to leave a good impression on employer. Furthermore, I lack in the quality of problem solving. To become efficient in this area, it is essential to remain calm. On the other hand, I as an individual becomes panicky in situation of some crisis. This is only the limitation that I have. To solve this issue, it is important for me to develop skills that will involve development of analytical qualities in me and I will be able to develop myself as a person and also qualify for the position of financial manager. CONCLUSION From this report, it can be concluded that professional development is a process which is beneficial for all stakeholders and it can be made possible through various approaches. To gain a effective professional development, it is important that an employee is aware of all the requirements that employer will have from the role he is aspiring for. Furthermore, an individual must analyze about own strengths and weaknesses so that he can successfully achieve what he desires in career path. There are various learning theories that an individual can adopt for personal and professional development. For becoming a successful professional in interested field, it is important to align own skills and abilities with that of required by employer.
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REFERENCES Books and Journals Desimone,L.M.andPak,K.,2017.Instructionalcoachingashigh-qualityprofessional development.Theory Into Practice.56(1). pp.3-12. Korthagen,F.,2017.Inconvenienttruthsaboutteacherlearning:Towardsprofessional development 3.0.Teachers and teaching.23(4). pp.387-405. Bates, C.C. and Morgan, D.N., 2018. Seven elements of effective professional development.The Reading Teacher.71(5). pp.623-626. Kennedy, M.M., 2016. How does professional development improve teaching?.Review of educational research.86(4). pp.945-980. Infographics, C.P., 2019. Professional Development Conference Marriott Riverwalk in San Antonio, TX. Osgerby, J., Marriott, P. and Gee, M., 2018. Accounting students perceptions of using visual metaphoraspartofpersonaldevelopmentplanning:anexploratorycase study.Accounting Education.27(6). pp.570-589. Alhaqan, A. and Smith, F., 2020. A global evidence review of systemic factors influencing participation in pharmacy professional development activities.Research in Social and Administrative Pharmacy. Marriott, L. and Sim, D., 2019. Social inequity, taxes and welfare in Australasia.Accounting, Auditing & Accountability Journal. Geia, L. and et.al., 2020. A unified call to action from Australian nursing and midwifery leaders: ensuring that Black lives matter.Contemporary Nurse. pp.1-12. du Plessis, A. and Eberlein, E., 2018. The role of heads of department in the professional developmentofeducators:Adistributedleadershipperspective.AfricaEducation Review.15(1). pp.1-19.