MWL101 Assignment 1: Personal Insight Report - Skills and Career

This report, titled 'Personal Insight,' analyzes a student's self-assessment within the context of modern business environments. The student, after taking the 'Foundation for Young Adults' assessment, identifies a primary job cluster as 'The Informer,' emphasizing knowledge-based roles in education and business. The report explores the evolving landscape of this cluster, including industrial developments in professional services, particularly accounting, and the expectations for graduates. The student assesses their competencies, including academic credentials, individual abilities, and results from the SHAPES assessment, performing a SWOT analysis to identify strengths, weaknesses, opportunities, and threats. The report concludes with insights into the importance of both technical and soft skills, aiming towards a career as a Chartered Accountant. The report highlights the need for continuous skill development in a dynamic business environment.

Running head: PERSONAL INSIGHT
PESONAL INSIGHT
Name of the Student:
Name of the University:
Author note:

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Abstract
Contemporary business environment tends to be dynamical and progressive. Individuals
being an integrated part of the overall workforce, efficiently intend to obtain insights and
adequate knowledge in order to adapt to the elevating developments pertaining to the modern
business domain. Through the explicit understanding from the journal ‘Foundation for Young
Adults”, I have acquired a comprehensive idea that there had been a conflicting situation
between the task cluster which I perceive to have aimed of being The Informer. However the
business environment for the Informers has recently been undergoing certain positive as well as
negative changes. This has increased my level of inclination in evaluating the business domain
along with its developing transitions. Furthermore, I would be engaged in performing various
tests, charts and analysis in order to explore the current level and form of competencies I possess
as well as identify the critical areas I lack to develop myself for the prospective days.

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Table of Contents
Introduction............................................................................................................................3
My Job Cluster(S)..................................................................................................................3
Industrial Developments and conditions............................................................................5
Considerable areas of expectations and standards for (My Cluster/Sector)......................6
Assessing my areas of competencies.................................................................................7
Conclusion............................................................................................................................10
Appendices...........................................................................................................................11
References............................................................................................................................13

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Introduction
Modern organizations are undergoing significant changes and encountering unprecedented
demands and requirements for transitions at both strategic as well as operational level. There can
be witnessed a general reception for developments that is recognized as an invariable
characteristic of the current organizational domain. Modern business enterprises are intrinsically
being influenced by the elevating rate of globalization of the economy, global market
competitiveness, advanced technologies and customer satisfaction and demands. Organizations
operating in globalized business environment are distinguished as more complex in comparison
to the organizations which have developed in the past two decades. These persistently evolving
and dynamic business enterprises need to engage challenging as well as competitive individuals
to attain competitive advantages. Thus to acquire improved knowledge and insights I aim to
execute some analysis and assessment to evaluate my skills and efficiently distinguish the areas
which would require greater degree of improvement.
My Job Cluster(S)
The New Work Mindset journal has identified 7 important job clusters in Australia namely
Generators, the Artisans, The Carers, Technical Experts, Informers, Coordinators and Designers
(FYA 2016). As per the criterion provided by the FYA assessment, I have attained the
understanding that the competencies which I possess would fit the profile of the Generators
which require improved level of interpersonal skills to effectively engage in retail, sales,
customer representation, hospitality sector. However, following to the evaluation of the
assessment outcomes I have realized that my competence level can appropriately ensemble the
job cluster of the Informers which tend to engaged experts engaged in education or business

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domains and also involve individuals who are aiming to excel their career in finance. I have
always exhibited greater level of inclination in providing comprehensive knowledge of value to
others and with the diminutive proficiency I have attained in the field of accounting I feel that
my skills are significantly suitable for this particular job cluster.
At this juncture, it is important to observe the varying characteristics of technical skills
persisting from cluster to cluster. However, The New Work Mindset reveals that the Generators
which tend to shed light on skills such as business or organizational growth, client relationship
management, store supervision, trade and stock management. While the Informers section aim to
concentrate in areas which necessitate produce greater level of knowledge and services related to
business consultation (FYA 2016). However, these forms of abilities draw similarity with certain
forms of teaching skills which primarily focus on knowledge assessment, report writing,
documentation, along with policy and information development.
Several reports reveal the importance of both technical skills and expertise in every job
domain whereby the soft skills are observed to shift from one cluster to the other. The
comprehensive report of The New Work states that the clusters of Generator primarily
emphasize on expertise which focus on client servicing roles such as improved interpersonal
abilities, establishing effective associations, maintaining time management and enhanced
supervision capabilities (FYA 2016). Furthermore, the domain of the Informer cluster tend to
emphasize on soft skills, assessing and evaluation along with other core areas related to
knowledge-orientation talent such as documentation, investigation, project management,
administration as well as innovation and creativity. This however implies the both the domains
of Generators and Informers extensively focus on common ground of competency which gives
value of to technological advances, digitalization and effective communication skills which tends

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to eradicate the areas of challenges and complexities and promote adaptation to improve the job
clusters. However, it has further been noted that the competences of soft skills are recognized as
immensely vital for business enterprises to engage employees who already possess high level of
ability of interpersonal communication and proficient enough to bring relevant resolutions during
any conflicting situations within the organization.
Industrial Developments and conditions
Evaluation of Professional skills
Being a representative of The Generator job cluster, I further have exhibited my area of
interest towards the Informers job domain which primarily comprise of services related to
Administrative and Logistics, trained, systematic and mechanical services along with education
along with knowledge development and training. My previous diminutive experience in the field
of accounting has developed my understanding of the probability of engaging in the Professional
Industry sector. However studies explore that the field of Professional Services primarily
comprise of industries which aim to provide vital services to the domain of alternative trades and
domestic spheres (ABS 2017). These services furthermore, are observed to exemplify areas
associated to systematic inquiry, methodological observation, architectural, manufacturing,
commercial and technical domain along with law and finance and other areas of marketing,
advertising research, business consulting as well as alternative proficient services. With an
emphasis of this broad range of services, the Professional services sector tend to experience a
significant growth of around 1.9% estimated from 2018-2023 (IBISWORLD 2017).
The Accounting Services in Australia on the other hand exhibits high level of emphasis
on services related to auditing, accounting financial records of organizations, analysing tax

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revenues and offering other clerical services (IBISWORLD 2017). However, in most of the
cases, the payroll access, invoice, purchase statement services are expelled from most of the
business operations. The accounting service industry reportedly experiences a growth of around
20 Billion that further reveals a gross increase of 1.5% from the year 2013 to the current year
along with an exceptional growth of 1.8% from the current year till 2023 (Australian Financial
Review 2017). Employment reports further indicate the development of over 15% of accountant
services whereby almost 189,100 accountants have been employed since last year in the Big
Four corporations namely Deloitte, PricewaterhouseCoopers (PwC), KPMG and Ernst and
Young (Knapp 2018). This growth has led the accounting sector undergo improved technological
transformations resulting repetitive and clerical based roles develop into mechanized systematic
jobs further introducing a broader role of accounting in fields of finance, trade and management.
Considerable areas of expectations and standards for (My Cluster/Sector)
Reports revealed by the Australian Service Sector signify the increasing growth of
selective and competitive emphasis on highly digitally proficient applicants in order to enhance
the level of employment of data analytics in field of auditing and finance. This demand by the
accounting sector implies the need of accounting graduates to develop technical proficiency in
Ms Excel and Xero in order to get employed in the sector (ABS 2017). It has further been noted
that certain areas of complexities whereby accounting business corporations are off shoring core
accounting roles executed by graduates resulting to certain graduates to offer high end jobs
which often leads to exploitation of management information. Though modern organizations
tend to assess employee soft skills of efficiently planning, adaptability, decision making and
problem solving ability, they further reveal high level of importance on proficient roles of

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Chartered Accountants (CA) or roles of Certified Management Accountant (CMA) (ABS,
Labour Force 2017).
Assessing my areas of competencies
 Academic Credentials- Having attained a Bachelors Degree in Commerce and doing a
Masters in Accounting, I always possessed a greater degree of curiosity and inclination in
addressing complex areas of finance and accounting during my leisure time and
successfully accomplished in solving the queries and generating accurate results. These
inquiries have further aided me to excel in this field and attain a HD average degree and
execute some diminutive accounting roles. However, there are certain alternative subject
areas where I have struggled in order to identify finance techniques related to accounting.

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 Individual Abilities- Following to the successful evaluation of 16 personality tests, I
identified that my skills are primarily associated to the Logistics whereby individuals
takes accountability of their own actions. However, it has been observed that Logisticians
aim to execute tasks with utmost precision, accuracy and persistence. With my ability of
being observant, perceptive and execute effective problem solving abilities, I consider
that I could efficiently integrate myself in the Accounting domain with the role of
Chartered Accountant.
 MyShapes Assessment- Generating the results of the SHAPES Chart, even though I
have attained the knowledge that I have developed in approximately all areas but further
need to enhance certain areas in order surpass the increasing rate of digital
competitiveness in the field of accountancy ((Cottrell 2015). Furthermore, it has come to
my realization that proficiency and knowledge are the factors which I need to improve as
globalized business enterprises are highly acknowledging prior professional expertise of
employees rather than focusing on educational degree.
 Current Areas of Expertise- Currently pursuing a Master’s degree in Accounting, I do
not posses any professional experience or practical knowledge. However, being born in a
family of finance where my father is an Accountant of a reputed firm, I have always been
associated with field of book keeping, ledger, tax revenues, budgeting. It was during
these situations when I attained the realization of my capabilities of sharing knowledge
with others related to the field of accounting.

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SWOT and gap analysis of my Skills
Evaluating the aspects of Professional Services, I like to drive my desire of developing
my abilities in the field of professional accountancy which aims to incorporate a wide range of
soft skills and technical abilities. I would further like to enhance the areas of digital utilization of
Ms Excel and at the same time emphasize on the soft skills related to problem solving and
interpersonal skills along with advanced evaluation techniques (Accountants Daily 2016).
It is important to observe, the way modern business enterprises significantly have been
acknowledging professional expertise rather than solely being reliant on academic credibility.
Thus to adapt this highly competitive business domain and employ myself in one of the most
reputed organizations along with an area of expertise in management other than areas of
budgeting, taxation and forecasting. As I efficiently desire to enhance my abilities and further
develop my areas of expertise in attaining a role of Chartered Accountant in one of the big four

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companies, I further believe that attaining analytical skills are not significantly adequate to be
involved in globalized business enterprises. Acquiring managerial abilities and proficiencies are
equally vital for contemporary business firms.
Swot Analysis
Strengths Weaknesses
 Adaptability
 Problem-Solving Skills
 Leadership Ability
 Positive Behaviour
 Dedication
 Strategizing Ability
 Lack of Time Management
 Self-Assurance
 Reserved
 Inability to establish effective
communication with strangers
 High level of distraction
Opportunities Threats
 Areas of Developing new and enhanced
abilities
 Adaptability of technological advances
 Accomplishing immensely proficient
accountants
 Automation of accounting work
 Increasing level of competition
 Cyber Crime
Conclusion
Thus, through the evaluation I have attained the insights of being highly suitable to be
employed in the job sector of the Informers which incorporates the utilization of both technical
as well as soft skills. However, the sector where I have exhibited my inclination into the field of
accounting needs high level of analytical expertise in order to achieve success. Thus, I need to
develop the areas of technical and soft skills such as communication, decision making abilities in
order to excel my career in the future.

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Appendices
Appendix 1: 16personalities test
Appendix 2: SHAPES test