Professional Identity and Practice Report - IHG Finance Manager Skills

This report focuses on professional identity and practice, specifically within the context of a finance manager role at InterContinental Hotels Group (IHG). It begins with an overview of professional identity, highlighting key components like attributes, values, and experiences. The report then provides a company overview of IHG and identifies the key benefits of ongoing professional development, such as increased motivation, a skilled workforce, enhanced brand image, and improved employability. It identifies the professional expectations for a finance manager at IHG, including leadership, problem-solving, communication, analytical skills, mathematical proficiency, and organizational abilities. The report also includes a self-assessment of the author's skills and competencies, identifying strengths like motivation, strategic planning, and problem-solving, as well as areas for improvement. It explores various learning theories, including Kolb's and Honey and Mumford's learning styles, and concludes by creating a development plan to enhance the author's skills and competencies for a finance manager role at IHG, including strategies for time management, communication, and financial analysis.

PROFESSIONAL
IDENTITY AND
PRACTICE

Table of Contents
INTRODUCTION...........................................................................................................................3
TASK...............................................................................................................................................3
Company overview......................................................................................................................3
Identification of key benefits of on-going professional development.........................................3
Identify professional employer expectation of skill within a specific job role............................4
Identify own ability, skills and competencies for specific job role.............................................5
Identify range of learning theories and approaches used for personal and professional
development.................................................................................................................................7
Create a development plan for improving skills and competencies............................................7
Design and undertake a job interview of chosen service industry.............................................10
Examination of strengths and weakness of applied interview process......................................12
CONCLUSION..............................................................................................................................12
REFERENCES..............................................................................................................................13
Books and journals....................................................................................................................13

INTRODUCTION
Professional identity is a concept of identification of professional self-concept. The self-
concept contributes different components which are attributes, values, motives, believes and
experiences. These concepts also define an individual point of view and how they perceive
themselves in their occupation. Major components of a professional identity development
involve professional socialization, goal orientation, mentoring, reflection, critical thinking,
internship experience, perception of profession work environment and commitment to profession
(Beddoe, 2017). Therefore, it can also be considered as a degree to which an individual identifies
by their professional group. InterContinental Hotels group operating as IHG is a public limited
company and is operating in hospitality industry. The company was established in 2003 and
offers services of hotels and resorts and is operating at various locations. The report aim to
define the benefits of on-going professional development and identify the skills and
competencies which can be helpful for performing the specific job roles and responsibilities. The
report will define a development plan which will be helpful for enhancing the skills, knowledge
and competencies.
TASK
Company overview
InterContinental Hotel Group also known as IHG Hotels and Resorts which was
established in Denham, England, United Kingdom. The company is currently operating at
various locations and have different by introducing different brand by the business through
which they are operating. The Group is operating for more than 200 years in the industry though
which they can offer premium quality hospitality services to their customers. Serval brands
which were introduced by the company involves: Crowe Plaza, Holiday Inn, Hotel Indigo,
Regent, Six Senses and many more.
Identification of key benefits of on-going professional development
Professional development is a continuous process which helps in enhancing the skills,
knowledge and competencies of people and thus offers better career and professional growth
opportunities (Büyükgöze and Gün, 2017). There are several strategies which helps in enhancing

professional growth of an individual, some of the key benefits of on-going professional
development are discussed below:
 Motivation and inspiration- Professional development can be driver which can help in
enhancing motivation and willingness of employees as this can be helpful for enhancing
efficiency of staff and as offers enhancements and better career growth opportunities
through which they can excel in their career.
 Skilled workforce- Through ongoing training and development, this can be helpful to
have skilled and knowledgeable employees and workforce which can participate in all
managerial activities that can act as an advantage for overall organisation productivity
and profitability. Through improving the efficiency of the employees by providing them
regular training from assessing the training requirements and enhancing their skills and
knowledge (Carrillo, Baguley and Vilar, 2015).
 Enhances organisational brand image- Through having a strong skilled and
experienced workforce, such strategies can be helpful for creating and maintain the brand
image. In relation to InterContinental Hotel Group, the company focuses on enhancing
employee skills through which they can enhance their performance by which they can
retain maximum employees and maintain goodwill of business in the industry.
 Increased employability- Professional development is a continuous process through
which qualities and core competencies of workers, can be enhanced which offers them an
opportunity for the employees for getting better employability opportunities. Such
development approaches can be helpful for the organisation to enhance employee
performance, and get better employability and career growth opportunity.
Identify professional employer expectation of skill within a specific job role
In this report, the chosen business is InterContinental Hotel Group and the role which has
been identified is Finance manager. For performing the roles and responsibilities of a Finance
Manager, various skills and competencies are discussed below:
 Leadership- Finance Manager are main incharge of finance department who focus on
monitoring all financial transactions through which they can manage the budgets and
supervise the whole team through which they can effectively utilize all financial
resources and avoid excess usage and wastage of such monetary funds (Clarke and et.al,

2015). By being an effective leader, this will be helpful for the finance manager to direct
the team and effectively and timely delegate their role and activities which need to be
performed.
 Problem solving ability- The major roles and responsibility of a finance manager is to
identify the financial risk through which they can plan effectively and resolve such issues
that can affect the financial stability and position of the company. From analyzing the
budgets till identifying risk of an investment, finance manager must focus on goals and
measures trough which they can meet their targets and enhance the business position.
 Communication- Finance managers are competent to communicate the analyzed
information and data which has been collected through financial analysis. These
managers are skilled in sharing all required information to various departments through
which they can maintain the financial position of the company and understand all
complex financial data (Cruess, Cruess and Steinert, 2019).
 Analysis- Finance manager must follow logical thinking in order to have a
comprehensive and understandable analysis of all financial data. Such skill will be
helpful in writing contracts, forecasting profit and loss, forming decisions and for
creating a budget.
 Mathematical proficiency- A proficient finance manager must have good knowledge of
algebraic mathematics and ability to understand and create formulas which will help in
dealing with all financial transactions. Such proficiency will be helpful in managing
international finance and evaluate large variety of financial documents.
 Organization- Finance manager use many financial documents which includes contracts,
spreadsheets, projections and different calculation. Finance manager must be highly
organized and have the ability to organize all information which is the key concept
towards success as this will also be helpful in saving time and being able to manage all
work easily and quickly by finding and retrieving information as per requirements.
Identify own ability, skills and competencies for specific job role
In the specified set up, I want to become a Finance Manager and for that I need to
identify my own abilities skills, competencies and weakness which well be an advantage for
better career development and progress toward the chosen career path (Hanitzsch, 2017). With

the help of self-assessment and audit, personal soft and hard skills and competencies are
discussed below:
 Highly motivated- Highly motivated and being positive, this has acted as a strength and
an ability to perform all assigned job roles effectively. Such skill has also helped in
creating and maintaining a positive working scenario.
 Strategic planning- Through strategic planning this has helped in planning all
managerial activities and achieve the desired job role and objective by using innovative
ideas and decisions.
 Effective communication- Communication skill has helped in sharing valuable
information accurately and in creating a good relationship with other employees. This
skill has also helped in maintaining better understanding and workplace.
 Problem solving ability- The ability to resolve conflicts and problems has been a
strength and skill which helps in maintaining a positive working scenario and good
relation among each other. This skill has helped in using innovative approaches to resolve
problems and meet desired objectives and standards.
 Relationship building and Management- Interpersonal skill acted as an ability to build
relationships and maintain good relations with other employees. It has acted as a strength
or skill which helps in sharing a cordial relation with other employees in the workplace.
By being able to listen and understand others opinion and share own point of view, it
helps in maintaining a good and positive relationship with all colleagues.
 Evaluation of resources- One of the most crucial skill which has helped in effective
performance is the ability to identify, evaluate all resources which has helped in effective
and optimum utilization of resources and lead to minimizing wastage and in saving time
and cost.
 Team working ability- By being able to work within a team, this skill has supported in
achieving all common targets and maintaining performance standards. This skill also
enhanced innovation and facilitated better decision making, that can be beneficial for
overall organisation productivity and profitability.
 Budgeting- The ability to manage finances and create budget, this skill ensured proper
and accurate use of financial resources without making any unnecessary transactions. The

ability to create a budget helped in avoiding excess, unnecessary use of funds and
financial resources.
 Risk management- With the help of identifying the risk which can create an adverse
impact, this skill has helped in creating possible solutions for resolving and facing such
risk which will be helpful in minimizing the negative impact of any challenge and face
less threats.
Identify range of learning theories and approaches used for personal and professional
development
Professional development is a process which helps in evolving the occupational status.
Professional development involves forming decisions for long time learning which can align
with personal objectives and are helpful for meeting career development and growth
opportunities. Learning is an approach which involves theories, ideologies and concepts that can
enhance skills, knowledge and competencies of a person (Hill and et.al, 2017). It reflects the idea
which can help a learner in resolving conflicts and face challenges. Some of the learning theories
which are helpful for personal and professional development are explained below:
Kolb’s Learning style-
This learning theory was introduced by David Kolb in his publication which was
published in the year,1984. This approach involves four stages which are- concrete learning,
reflective observation, abstract conceptualization and active experimentation. The author
believes that, learners can progress through stages which will help them in completing and
transforming their expectations into reality. The author believes that learning styles emerge due
to genetics, demand of current environment and through life experiences. This learning approach
emphasis innovative and imaginative approach of doing things and performing assigned
activities.
Honey and Mumford Learning Style-
This learning approach was introduced by Peter Honey and Alan Mumford and was
majorly based on the work of Kolb. This learning approach depicts four distinct learning styles
and preferences of individuals which involves- activist, theorist, pragmatist and reflector. This
learning approach depends upon learning through observation (Ivanova and Skara-MincĿne,

2016). This learning approach is a continuous process which is based on perception, active
experimentation, on experiences, reflective observations and what conclusion a person draws
based on their perception, experiences and observation.
Create a development plan for improving skills and competencies
Professional development plan is a layout which depicts development of all skills and
competencies. This plan involves setting up of a goal and forming strategies which will be
helpful in improving planned and required skill set within desired time span. It is a continuous
process of improvement which supports personal and career development opportunities. The plan
is created on the basis of the skills which needs to be improved after the skills are identified.
With the help of the development plan, the need of improvement can be met. This plan of action
helps an individual in enhancing their skills which will improve the core competency and
potentials of the individual. Professional development plan is a medium that leads to effective
utilization of all resources which can be an advantage for accomplishment of professional
objectives and targets (Jackson, 2016). The skills which needs to be improved and will be quoted
in professional development plan.
Development plan for Financial Manager in InterContinental Hotel Group
The professional development plan for working as a Finance Manager in the
InterContinental Hotel Group is described below:
SKILLS CURREN
T LEVEL
EXPECTE
D LEVEL
STRATEGY MEASUREMEN
T
TIME
DURATIO
N
Time
managemen
t
3 7 By planning
all activities
and
maintaining a
proper
schedule of all
the task which
needs to
performed will
The improvement
in time
management skill
can be monitored
and measured
through identifying
the completion of
all assigned job
role in the hotel in
4 months

help in
effective time
management
(Johnson and
Chauvin,
2016).
the given time
duration.
Leadership 2 9 By observing
other leaders,
reading about
the leaders and
understanding
their tactics
and tricks will
be the strategy
for improving
leadership skill
(Jue and Ha,
2020).
The improvement
in leadership skill
can be measured
through evaluating
performance and to
identifying the
ability to guide
other members and
delegate roles and
activities which
needs to be
performed.
5 months
Decision
making
4 8 By closely
observing past
decisions,
engaging with
team
members,
understanding
future
requirements,
using
innovative
approaches
and effective
By being able to
make productive
and innovative
decisions which
can lead to
enhanced
profitability for the
business.
3 months

communicatio
n can be a
constructive
strategy which
will help in
enhancing
decision
making
abilities
(Kirkby,
Walsh and
Keary, 2019).
Technical
knowledge
5 9 The skill can
be enhanced
through
learning and
gathering more
knowledge
with the help
of a
professional
course that can
be helpful in
meeting the
changing
demands of
the business
industry
(Moorhead
and et.al,
2019).
This skill
improvement can
be measured
through the ability
to perform all
assigned roles with
the help of
technology which
has been used by
the company.
8 months

Design and undertake a job interview of chosen service industry
InterContinental Hotel Group must hire employees who can understand the demands of
their customers and use innovative approach that can be helpful in achieving maximum customer
satisfaction and maximum profitability for the business. As there are several departments and
each department follow their own strategies and function to meet the organisational objectives.
The finance department of InterContinental Hotel Group plays a crucial role in improving
organisational performance, managing their finances, form strategies and financial position in the
industry. There are several set of questions which must be answered by a potential candidate to
work with InterContinental Hotel Group as a Finance Manager. Some of these questions of the
interview process of InterContinental Hotel Group, are discussed below:
1. What skills and qualities makes you the desirable candidate to work as a Finance
Manager in InterContinental Hotel Group?
As I have knowledge and experience regarding the inflow and out flow of cash while
working in Marriot for 4 years and as working as Senior Accounts Head Chief. I will use my
skills, knowledge and experience by which I will focus on making business progress and
enhance their position in the industry which will ultimately help them in gaining competitive
advantage. I am most desirable candidate and best fit for this vacant position in the
organisation as I look forward to work with the company and I have good competencies and
ability to handle the tem of 10 employees and guide them towards right direction by which
whole team can work towards the accomplishment of organisational objectives.
2. What are the major roles and responsibilities of a Finance Manager in hospitality
sector?
The major roles which needs to be performed by the company is to manage the
transaction and flow of money which can be helpful for meeting the demands of all
departments and divisions of the organisation. All departments require financial funds and
such requirements are by the Head and Incharge of finance department as they monitor and
control all pans, procedures and transactions which helps the organisation in maintain their
financial stability of their business.
3. Why do you think financial plans are important and how they help in being successful?

Financial plans hold high value in the organisation as these plans are designed with the
aim of meeting the financial stability and all requirements of the business that can help them
in maintain their competitive and financial position of business in the industry. These
financial plans created by supervisors and Chefs help the organisation in minimizing the
wastage, use resources effective, effective allocation of budge and reduce cost which can be
helpful for a business to maintain their position in the industry.
4. What do you know about cash flow and how you will handle various activities of the
business?
The inflow, outflow and movement of cash is cash flow. By managing the working
capital will be an effective strategy for making business successful and sustain for longer
span of time. By focusing on all assets, liabilities and cost, business will require monetary
funds to manage such resources and to closely monitor and control such resources will be
helpful in managing the cash and budge of the organisation.
Examination of strengths and weakness of applied interview process
The company should monitor the performance of their employees as this will be helpful
in identifying their strengths and weakness and offer them valuable feedbacks which can help
them in enhancing their performance. The evaluations were shared to numerous workers which
helps them in meeting the desired performance standards. The information of employees was
evaluated on the basis of their money related inquires where they ensured quick and accurate
response which will be helpful in enhancing the procedure which can enhance overall
organisation and presentation. The company must briefly examine the quoted information which
will help them in understanding the skills, competencies and weakness of employee and thus,
will be helpful in offering required training that can be helpful in improving skills, knowledge
and competences.
The organization use different techniques and standards which can are more efficient for
workers to use and perform effectively for the achievement of desired standards and objectives.
All employees must use innovative and productive approach which will help them in effective
utilization of resources which can be a step towards progress and overall productivity of
business, such evaluations were based on the experience and knowledge of the employees. The
employees must be offered all required raw material which can be helpful for progressive