Career In Business - Essay Example

? Career in business Table of Contents Summary 3 Introduction 4 Overview of placement organization 6 Learning Outcomes of the Work Placement 7 Work Placement Details 10 Work Activities 12 Health and Safety in the Placement 14 Performance Review of the Placement 15 Conclusion 18 References 19 Summary This report is a reflection of my experience and the core activities I completed at my work placement. I did my work placement at Shen Zhen Underground construction Company Ltd, a construction company of underground transport systems such as metro or underground roads. As an international student, I chose to do the placement back in my home country as I had the intention of pursuing my career back there once I was done with my studies. Within the company I worked within the accounting and finance department. During the three weeks of placement, I enjoyed the tasks I worked on, I loved the friendly environment in which I worked from and by the end of the placement, I realised that I actually wanted to pursue this line of profession. Introduction Work placement is one of the critical steps for any Business student as it leverages the skills and potential abilities of the student enabling the student to be able to develop from a real life perspective and work situation (Green, 2011: 50; Wilton, 2012: 604). This report presents an analysis of the learning gained from my work placement as a result of three weeks real life work experience with an organisation. Hence, the report evaluates my performance during the work placement and the attainment of predetermined learning outcomes from the work placement. In the second year of my studies, I got the opportunity to intern with one of the fastest growing organisations in my home country. As an international student, I found this opportunity of high value and preferable as I had a vision of furthering my career as an accountant back in my country, China. I believed that taking the internship in my country would provide me the experience I needed of working in a Chinese work environment, and would further help me network around in my workplace, which would be helpful in my career after graduation. My work placement took place at Shen Zhen Underground construction Company Ltd. The construction industry is one of the highly booming industries in China (China Infrastructure Report, 2012), with Shen Zhen being one of the high growth companies in the country. Getting a chance to work in an industry that has been changing the landscape of the country was quite an honour for me and I wanted to be a part of the growth process. I worked within the accounting and finance department of the organisation, where the primary responsibilities included maintaining the petty cash and performing other tasks as directed by my supervisor. I did the work placement for three weeks this summer, and this report details the actual activities done during the time period of my placement. The remainder of the report is divided into seven sections. The first part will give a background and overview to work place organisation, Shen Zhen Underground construction Company Ltd. This is so as to understand the context within which the internship was completed. The send section will identifying the intended learning outcomes from the work placement that I expected and thought I would gain from taking an internship with the company. The third section then details the work placement area and work activities as well as tasks completed. The fourth section analyses the health and safety policies as well as procedures within the organisation to understand how safe it was to work in the organisation. The sixth section will be the performance review of the work placement taking into perspective my own perception of performance as well as actual achievements in the work placement. Finally, the report will conclude to sum up the report as a whole. Overview of placement organization As noted above, my work placement took place at Shen Zhen Underground construction Company Ltd, a construction company located in China. My placement organisation, hence, was slightly different from what my other colleagues choose to pursue, as it was rather a far off located organisation from my institution of learning. Shen Zhen Underground construction Company Ltd is located in my home town Shen Zhen, and has been in operation since 1998. Initially, the company started out as a Mass Transit Railway Corporation which developed the metro system within Shen Zhen area. Its mission was to transform the Shen Zhen public metro system into a more efficient transport system through contracts attained from the Shen Zhen government. Overtime, the organisation has development more than 20 railway stations and more than twenty one thousand stretch of underground metro system at more than ? 116 trillion. Overtime the company has grown and expanded its area of operations into other underground construction areas such as construction of tunnels and underground roads. This company, whose principle shareholder is Shen Zhen government, has been a major player in the development of the Shen Zhen transport system, making the biggest investments in the area. Within the organisation, there are over twenty departments all located in various locations within Shen Zhen, the accounting and finance department for which I was placed is located within the Shen Zhen city centre. This department is an indispensable component of the organisation as it is through this that various transactions in the organisation are verified as well as balanced to ensure that the organisation is operating effectively and at a profit. The head of the accounting and finance department was Mr. Sipei Cao, though I never got to meet him personally during the three weeks internship. The orientation and guidance on department operations was provided by my supervisor Mr. Rex Lam, who helped me get around as well as specify the core duties that I would be completing in the organisation. Learning Outcomes of the Work Placement During the start of the Career in Business module, a set of skills and competencies that business students needed to acquire were specified in a worksheet provided. From this worksheet, I developed a number of learning outcomes prior to my work placement. In these learning outcomes I focused on the skills and competencies that I aimed to gain by the end of the work placement. These learning outcomes include: Personal development I aim to attain a number skills and competencies that will enhance my personal development as a potential professional in my field of operations and study. Such include planning skills, self management skills, knowledge on how accounting and finance operations work in actual accounting environment, and acquire business acumen and problem solving skills, which are essential within a business field (Wilton, 2012: 604; Murakami, et al, 2009; Bullock, et al, 2009). The core focus will be on improving the named skills by the end of the placement. Academic enrichment Another focus would be on putting theory into practise, and gaining deeper insight into the application of core accounting concepts learnt in class. This will actually be the most critical of all learning outcomes as I will be able to use what I already learnt in theory to put them in real action in work place situations as well as gain insight onto how real work situations may differ from what is learnt in class. Core competencies I feel I should be able to learnt in this are the actual financial reporting structure in the company, and how various components in finance are treated. Furthermore, any issues that I may notice may probably act as a basis or provide more knowledge for research projects that I may pursue in accounting. In depth understanding of the organisation and the construction industry After completing the internship, I should be able to how the construction industry works within china, and I should also be able to understand the daily and major operations within the accounting and finance department of the organisation for instance accounting procedure, system of accounting, policies that impact accounting within the company, and financial analysis. Furthermore, I will be able to understand in depth the core services within the company that give it a competitive advantage and bring in more cash flows, and how the organisation is leveraging such services. Acquire core accounting and personal skills After the place, I will be able to gain strong accounting skills such as insight into accounting interpretations, strong numeracy skills, strong and practicable accounting system (IT) skills, interpersonal skills, team working, leadership skills, and communication skills within the workplace. While using the accounting software in an effective and efficient manner would be one of the most important skills that will be learnt, I believe that acquiring both communication and team work skills would be the most critical learning outcome as this in most part are greatest weaknesses. Career planning After completion of the placement, I would be able to know whether accounting is what I really want to do, and whether it is the ideal occupation for me to continue pursuing. Getting to understand the accounting and finance issues from a real life perspective and having to deal with real work situation issues would give insight as to my capabilities in an accounting career. Furthermore, the placement will also provide me with the opportunity to network and meet up with accounting gurus both from the company and probably within the industry which will help in my planning for my future career in accounting within the industry. Wider opportunities and knowledge of accounting in China Through my placement, I would be able to be able to transfer the knowledge I have learnt in class to the Chinese accounting experience. In this I would be able to blend what I have learnt to what I will be learning in practice within a Chinese context. Hence, I would be able to understand whether what I have learnt is practicable in China. Furthermore, the experience of working at Shen Zhen Underground construction Company would widen my career opportunities within the industry in China Work Placement Details The accounting and finance department within Shen Zhen Underground construction Company, for which I did my placement is located within the Shen Zhen city centre, central building. In order to have access the building, a pass or card for the employees are required as well as a parking permit. The main accounting and finance offices are on the ninth floor of the building with fourteen employees in overall. Upon arriving, Mr. Rex Lam my supervisor and also an account manager, introduced me to some of the employees in the department and showed me my desk. The section I was working from was an open office area with about seven other employees each with their own desks. The other employees either had their own offices or shared another open office space across from ours. Hence, this environment provided a good environment with which I easily interacted with other employees in the office as well as I got to learn some accounting operations from the employees. Mr Lam had his own office sectioned off at the end of the corner, and was one of the account managers in the department. My desk, as everybody else’s had a computer and telephone, with the computer only logged in through an employees’ owned password and login key. This was so to ensure security of the financial records within the organisation. The restrooms were located at the end of the office corridor and hence were easier to reach for staff in all areas within the department. As I started my placement, I was given both an employee login key (number) for the computer, and an employee identification card that both enabled me to be able to get into the office, and also access the computer on my desk. The card and employee number enabled me to be able to operate well and under a good environment and condition as other employees. I was able to gain access to the computer and the programs installed in it, as well as other services in the office such as faxing, scanning, and printing, all of which required all employees to type in their security number first before using them. This maximised security in the office while preventing misuse of services provided in the offices. Mr. Lam pointed out that all the employees as well as interns needed to be in official attires in the office, and this mainly included formal suit and shoes. Normal working hours for the employees in the office was from nine in the morning till five in the evening, a schedule which I fitted right into. Mr. Lam stressed that punctuality within the office was of paramount importance, and anyone arriving five minutes past the set time was considered as late. Company policies require that upon getting late three times an employee gets a warning letter and if they still do not rectify on their punctuality, they may be liable for dismal. Where one is late with good reason, often they are required to call in earlier and explain they would be late. A punctual working environment ensures efficiency and effectiveness in their operations. I actually agree with this scheduling system and the punctuality policy in the company as it is essential for ensuring productivity from the employees as well as developing a good discipline among employees where time keeping is concerned. There was a one hour break for lunch, where employee went out to lunch as the company did not provide lunch. Most of the staff, me included, ate out at a food canteen in the ground floor of the building where we worked, as this place was much closer to the office. However, there was a central area in the building where people could go and make themselves tea or coffee. Work Activities The objectives of placement The core objectives of the work placement were so as to work with the organisation in order to gain practical skills and experience essential in the learning process. Hence, the placement was not only an effective learning tool but also a way of effectively developing a good relationship with the organisation. The placement benefited both the student and the organisation. This is because the organisation had the chance to evaluate talent and ability of the students for possible future appointments. The organisation also benefited from fresh insight and through cost cutting as the internship was not paid. The internship is also an effective tool for the student in evaluating career prospects, understanding their careers well, and bridging the gap between classroom knowledge and its practicability. Tasks and Activities The placement started quite well as I was given tasks that were not complicated to execute. First and foremost, in the first three days, Mr. Lam had me watch and learn what was required of me. This involved working with three colleagues within the department so that I could how the company accounting system works before I can actually do it alone. For instance, I worked with one of the Staff colleagues putting entries into ledger accounts. After the three days, Mr. Lam started handing me small and simple tasks. These included handling the petty cash, bills charges, and money transfer payment. Such petty cash management included entry of the printing and scanning costs, as well as office stationeries where as the bill charges included bills such as telephone bills, fuel expense, motor expense. These I did within the first week and a half. Afterwards, the core daily tasks that I got become more advanced such as entering transaction payments into accounts such as the expense account, and the income and earnings report as well calculating the salary expense, and recording the organisation’s cash flow. However, I did this under the as an assistant, where I helped other full employees to entry transactions into the book of accounts while and they checked it off to ensure it was right. Another core task that I did during my internship is ensuring that various memos and letters or agenda materials among others were made available to staff members. For instance where there was a meeting in the department, I would have to make more copies of various documents that would be used in the departmental meetings which often took place weekly. Such materials would include agenda materials or reports on company position. These I would then have to distribute to all participant’s table in the meeting before the start of the meeting. This task provided me with the opportunity of exploring other areas within the accounting profession to gauge my flexibility at learning. It also provided an opportunity to get to interact with other persons from the other second open space from ours who would attend the meeting. Health and Safety in the Placement Health and safety procedures were explained during the first day of placement by Mr. Lam. In this a given a worksheet that outlined the policies and procedure for health and safety in the company. Furthermore, Mr. Lam explained the procedures in case of an accident such as fire. For instance, he showed me all the fire exits, and pointed out that in case of any accident, I need not panic; I just need to escape through the exits and out of the building and call the emergency services on 112. It would also essential to go towards central park where all staff meets and head counts would be done. Furthermore, he showed that in any accident, I should not take the lift but rather use the stairs. Otherwise, he assured that there are rarely any accident reports that have required emergency exits. Other health and safety policy and procedures were found in the worksheet, for instance in equipment usage where we need to log off the computer after usage and shut it, ways to avoid accidents in the workplace, how to make adjustments in the working environment to minimise or eliminate potential harm, for instance, reducing the brightness of the computer monitor. The accounting and finance department in the company had between one and two fire extinguishers in each room where they are easily accessible in times of an accident. Next to the fire extinguishers was a notice on the safe and correct way to use the fire extinguishers as well as safety measures to take in the case of a fire accident. There are also about three first aid kits in the department, one in each of the restrooms and another down at an infirmary located on the ground floor of the building. Various equipments such as the scanning machines also had procedures that pointed safety measures and correct ways of using the machines. Performance Review of the Placement With the completion of the work placement after three weeks, I have come to see the accounting job in a different light. Whereas I thought it was all about working with numbers, I have come to understand that it needs more than that, it needs deep insight and analytical skills that help an accountant decipher the meaning behind the numbers which is more than understanding profitability. Furthermore, before my placement, I was not confident that in my abilities to actually work as an accountant or get around the complexity of the customised accounting system within organisations. On the first day of my placement, though I was very excited to be in a working environment and ready to learn, I was also extremely nervous about the whole situation, and at times would not be sure of what I needed to do, or would feel abandoned with no directions on what I needed to do. As I know that my main weaknesses are being rather a quite person and a non starter in communication and conversations, i just watched people going about their business and waited for someone to show me what I should do. One of the accountants in my office, Chung Li, struck up a conversation and I went over to her desk to talk to her and observe what she was doing until Mr. Lam came back and thought it was a good idea I learn by watching first from other accountants. That first day I not only learnt how expenses were entered into the accounting system within the company, but also that I needed to hone my communication skills, especially conversation starters. I was glad I had met a friendly person who broke the conversation dilemma. With continued learning, I actually found the work exciting and would prod for more work when I was done with what I had been assigned. The department had a lot of work to do, and the more I did well in the simpler tasks, the more Mr. Lam noted of my quick learning and gave me more complex accounting tasks to complete. Though for most work I only did assisting works which were counterchecked for accuracy, I got to learn a lot from the experience. First and foremost, I connected theory to practise, but also understood what is learnt in class is only a portion of what makes a successful accounting career. A person needs to be doing the work, as each transaction may have its own challenges and hurdles that need to be resolved. I have been able to gain deeper insight into the application of core accounting concepts in real work situations and have improved and acquires some unique accounting skills such as accounting interpretations, improved numeracy skills, an understanding accounting systems, improved interpersonal skills, good team working skills, and improved communication skills within the workplace. As I worked with all seven employees in the open office at one time or another in assisting them complete some work, I have been able to learn working effectively within a team environment and I have ramped up my communication abilities. As a whole, I believe that just as the experience was exciting to me, it was also so for my colleagues with whom I worked with, and I believe that I did quite a good job. Though during the first week I was unsure of my skills, and rather preferred learning from the other staff in the office, I gained more confidence b the second week when I kept getting positive comments about my completed tasks, and by the end of the third week, I was fully confident of what I was doing and was sure that I did want to pursue a career in accounting. Before the placement experience, I tended to get nervous working with numbers in class, and would be most nervous when completing an accounting test. But this is not the experience in real work situation. It is actually fun to work with numbers when one knows that they are solving an actual existing real life problem. The experience at Shen Zhen Underground construction was really a turn around on how I perceived accounting, and now more than ever, I’m sure this is what I want to do, and would like to further enter into a financial analyst profession. Conclusion In conclusion, thinking back to before I did the work placement and after, I realise that the placement has enabled me to have a deeper understanding of accounting and to actually comprehend its significance in an organisation and how it operates. It has also provided me with insight into how I want to chart my future career in the field further. References Bullock, K, Gould, V, Hejmadi, M, & Lock, G 2009, 'Work placement experience: should I stay or should I go?', Higher Education Research & Development, 28, 5, pp. 481-494 China Infrastructure Report 2012, 'China Infrastructure Report: Q3 2012 Includes 10-Year Forecasts To 2021', China Infrastructure Report, 3, pp. 2-111, Business Source Complete, EBSCOhost, viewed 2 September 2012. Green, J 2011, 'The impact of a work placement or internship year on student final year performance: An empirical study', International Journal Of Management Education, 9, 2, pp. 49-57. Murakami, K, Murray, L, Sims, D, & Chedzey, K 2009, 'Learning on Work Placement: The Narrative Development of Social Competence', Journal Of Adult Development, 16, 1, pp. 13-24 Wilton, N 2012, 'The impact of work placements on skills development and career outcomes for business and management graduates', Studies In Higher Education, 37, 5, pp. 603-620, Academic Search Premier, EBSCOhost, viewed 2 September 2012. Read More