Entrepreneurship: BAA612 Personal Development Plan

This assignment presents a comprehensive personal development plan (PDP) created by a student for their entrepreneurship course (BAA612). The PDP begins with a clear mission and goals, focusing on improving communication, interpersonal, and relationship-building skills to advance their career as a chartered accountant. The student conducts a thorough SWOT analysis, identifying strengths such as leadership ability and a strong understanding of accounting, and weaknesses like fear of new ventures and difficulty balancing multiple tasks. The PEST analysis examines the political, economic, socio-cultural, and technological factors influencing the student's goals, highlighting opportunities and threats within each category. An opportunity analysis further connects the student's strengths and PEST factors to potential career advancements. The plan includes a career statement, outlining the desire to become a highly trained chartered accountant and take on a leadership role. An action plan is detailed, including steps like enrolling in life skills training and increasing social interactions, with measures of success involving financial, social, and human capital. The plan also includes a detailed bibliography of sources used.

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ENTREPRENEURSHIP
Name of student
Name of instructor
Name of institution
Date

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Mission and Goals
The main mission is to improve my communication, interpersonal and relationship
building skills. The skills will assist in networking with persons within my place of work.
Additionally, the skill will assist in communicating ideas with the other employees and
managers at work. The skill will improve my interactions by being on good terms with the
people around. Furthermore, with the skill, I will have the ability to rise in the employment
ranks and join the managerial team (Anon., 2018). On the other hand, the skill will
improve my chances of improving my career goals.
I have a goal of becoming a chartered accountant. The goal is realistic due to the alignment
with the current accounting course I am pursuing. Additionally, I have joined the
accountants association to get a chartered accountant’s license. Additionally, I have a good
understanding of accounts, which makes the achievement of the goal easy. Furthermore,
with the right training and education I will become a chartered accountant within a short
time.
The improvement of the communication, interpersonal and relationship building skills
will require various training. The training will include signing up for a core life skills class
where I will get further knowledge of how to treat other people (Grunig, 2013). The core
life skills also improve the ability to select the right choice of words when communicating
with various persons.
Furthermore, I will require to rise in the employment ranks at the place of work to improve
my communication skills (Boag, 2018). A higher rank at the place of work will assist my
development by giving a chance to interact with both management and the subordinate
staff. The different interactions will present various situations that require different
communication, interpersonal and relationship skills. Therefore, my communication skills
will improve over time due to the challenges faced in the daily interactions at work.

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Furthermore, the interaction with the management will pose difficult situations that aid
further in developing communication skills (Greenberg, 2018).
SWOT analysis template
Strengths:
 I have the ability to lead a team in
achieving the set objectives.
Throughout my employment and
studies, I have worked as a team
leader when performing various
activities.
 My rank at the place of work has
increased my confidence when
relating with people. The position
allows the interaction with many
persons including the management,
employees and customers.
 I have good understanding of
accounting and numbers.
Weaknesses:
 I have a weakness of balancing two
activities since I face failure in one
activity. Therefore, I am afraid of
failing to achieve the best results at
work while trying to improve my
communication, interpersonal and
relationship building skills.
 I have a fear of starting new things
due to the fear of changes that
come with the unknown. Therefore,
I might end up no implementing the
procedures required to improve my
communication, interpersonal and
relationship building skills.
Opportunities:
 The communication and
interpersonal skills will assist in
dealing with people from different
backgrounds in the organisation.
 Furthermore, the communication,
Threats:
 The inability to balance activities
successfully.
 The fear of starting new things
 Many people doing accounting,
which could lead to competition for jobs.

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interpersonal and relationship
building skills will assist in the
communication of ideas.
 Becoming a chartered accountant
will lead to a salary increase and a
promotion.
PEST analysis template
Political Factors:
 Eligibility for
political
positions.
 Legislations
that increase
taxes.
 Levels of
corruption
 Political
environment.
 Regulations and
de-regulations.
Economic factors:
 Increased taxes
 Increase in
salary
 An improved
global
economic
market that
increases job
opportunities.
Opportunities:
Availability of political
positions that require
Threats:
Increased corruption
levels could hinder
Opportunities:
Increased eligibility
for global job
Threats:
The increase in taxes
could reduce the

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communication and
interpersonal skills.
Regulations that could
allow increased
salaries for persons
with multiple skills.
career promotion.
Increased taxes could
reduce the disposable
income available for
paying training fees.
De-regulation of the
ability to balance
personal life goals and
work goals.
opportunities that
require
communication,
interpersonal and
relationship building
skills.
A higher salary due to
the possible promotion
that comes with
acquiring
communication,
relationship and
interpersonal skills.
money available to
fund the
communication,
interpersonal and
relationship building
studies.
Socio-Cultural
Factors:
 Lifestyle tastes
and
preferences.
 Social attitude
towards
communication,
interpersonal
and relationship
building skills.
Technological
factors:
 Access to more
information
 Ability to
undertake
research and
development
 Ability to
transfer
information

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 Population
education levels
quickly
Opportunities:
Acquiring the skills
will allow better
interactions with
persons from all social
levels.
The skills will increase
the social perception as
a good person due to
the ability to interact
properly.
Ability to gain
confidence and educate
the members of the
society will increase
the education levels.
Threats:
Social standards that
do not open up many
opportunities for
people with the skills.
Low education levels,
which results in less
communication,
relationship building
and interpersonal
skills trainers.
Opportunities:
Information systems
enable the access to
information about
developing the life
skills in various
situations and
organizational settings.
The information
systems will enable
transferring and
sharing of knowledge
quickly with other
people in the
environment.
Information systems
provide the chance to
find more information
about communication,
relationship building
and interpersonal
skills.
Threats:
Some of the
technological
advancements could
increase the cost of
learning due to the
resources required.
The resources include
laptops, which have a
high cost in the
market.

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Opportunity analysis template
Identified Opportunity
Supporting Factors (Strengths,
PEST Trends and Events,
Personal Interests)
Opposing Factors
(Weaknesses,
PEST Trends and Events)
To vie for a political position
in the future
The learning of
communication, interpersonal
and relationship building skills
will give the confidence to
convince the masses to vote for
me during the campaigns.
A weakness in the SWOT
analysis could hinder the
achievement of the political
ambitions due to the increased
corruption levels. Some
political competitors could use
bribery to get the political seat
instead of seeking votes from
the voters.
Promotion at the place of work
due to the communication
skills.
I have the confidence to lead
teams in achieving the set
objectives. Additionally, the
skills will assist in the
communication of ideas at the
place of work thus giving the
opportunity to get leadership
positions.
I have a fear of starting new
things, which could pose a
challenge to beginning the
training.
Increased salary at the place of The multiple skills will assist I am poor when balancing

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work in undertaking more activities
at the place of work leading to
an increase in income.
more than one activity.
Therefore, I would fail when it
comes to performing more
than one task at work.
Improved social lifestyle The communication will assist
in communicating better with
persons from different
backgrounds in the society.
Additionally, the skills will
increase my social perception
by creating a positive image.
The low education levels in the
society could lead to a
misunderstanding with the
persons who do not understand
why some communication,
interpersonal and relationship
building techniques are used.
Career statements
I want to become a highly trained chartered accountant. I am interested in the career due to
the great passion I have for accounting. Additionally, becoming a chartered accountant
will assist in increasing my job ranking and develop a positive workplace image (Juneja,
2018). The chartered accounting will improve my output as a team leader due to the ability
to understand and apply the accounting principles. Therefore, undertaking accounting
training will play a huge role in achieving the career goal (Krishnan, 2018).
The achievement of a chartered accounting certificate is important to my career and aligns
with my personality (Mandviwalla, 2015). I would like to take up a leadership position in
the accounting department. The leadership position requires adequate accounting training

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and experience. Furthermore, I expect to become and accounting trainer, which requires
deep accounting knowledge and a chartered accounting certificate to qualify.
Action Plan and the action steps
The achievement of communication, interpersonal and relationship building will require
various steps. The first step includes enrolling in a life skills training school where I will
learn about people skills. The other step will include involving more social activities that
give a platform for interaction. The interactions will increase my communication,
interpersonal and relationship building skills (Mandviwalla, 2015).
Furthermore, the plan will have various reviews to check success. One of the reviews will
include checking the financial aspect. The financial aspect will include checking the
increases in income after achieving the skills (Anon., 2018). An increase in income will
show success in acquiring the skills.
Furthermore, the social skills will assist in identifying levels of success or failure.
Therefore, an increased ability to interact with the people indicates the success of the plan.
The social success includes the ability to interact with people from different backgrounds
and having an improved social image (Greenberg, 2018).
The other measure of success includes having experienced human capital at the
consultancy firm that I intend to start. The ability to attract highly qualified employees
proves that my plan to acquire communication, interpersonal and relationship building
skills has succeeded (Greenberg, 2018).
Moreover, the plan will require the support of various people and resources. The resources
include funds to pay the training fees and conduct research. On the other hand, the people
who will assist in achieving success include life skill trainers, friends and family
(Krishnan, 2018).

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Bibliography
Anon., 2018. Appraisal Methods. [Online]
Available at: open.lib.umn.edu/humanresourcemanagement/chapter/11-2-appraisal-methods/
Anon., 2018. Marketing Theories-PESTEL Analysis. [Online]
Available at: http://www.professionalacademy.com
Anon., 2018. Recognise and Reward Employee Performance. [Online]
Available at: https:www.nibusinessinfo.co.uk

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Boag, P., 2018. Customer Journey Mapping: Everything You Need to Know. [Online]
Available at: https:www.sailthru.com
[Accessed 14 May 2018].
Greenberg, C. L., 2018. How to Conduct a Training Needs Analysis. [Online]
Available at: https://www.xperthr.com/how-to/how-to-conduct-a-training-needs-analysis/
6716/
Griffin, D., 2018. Types of Employees Appraisal Systems. [Online]
Available at: smallbusiness.chron.com
Grunig, J., 2013. Excellence Theory. [Online]
Available at: http://excellencetheory.wordpress.com
Juneja, 2018. Management Study Guide. [Online]
Available at: https://www.managementstudyguide.com
Krishnan, A., 2018. Techniques to Prioritize Requirements. [Online]
Available at: www.modernanalyst.com/resources/article/tabid/115/ID/3332/Technique-to-
Prioritize-requirements.aspx
Maloney, J., 2015. Entrepreneur. [Online]
Available at: https://www.entrepreneur.com
Mandviwalla, M., 2015. Fox School of Business. [Online]
Available at: http://www.community.mis.temple.edu
Pasteur, L., 2018. Personal SWOT Analysis. [Online]
Available at: https://www.mindtools.com