Career Plan - Assignment Example

? Career Plan/Bibliography Paper Biography T. Boone Pickens: BP Capital Management Chairman and CEO T.Boone Pickens was born in Holdenville, Oklahoma USA on the 22 of May in 1928.He is one of the richest Americans enlisted by Forbes magazine (Ozanin, Schwartz 2007). Pickens is considered to be one of the most successful American investor, hedge fund manager, and an oil billionaire. His father was a land right (oil and gas) leaser. As a child, Pickens was involved in running a paper route with 28 deliveries, which expanded to 156 quickly. He showed early signs of being entrepreneurial and later attributed business practices as a key to his success in acquiring and expanding business. Pickens and his family moved to Oklahoma to Amarillo, Texas in late 1930s.He began studying at the University of Texas after finishing High School and graduated with a degree in geology in 1951 from Oklahoma A&M (now called Oklahoma State University).To kick start the career, the great business leader joined Philips petroleum and worked there until 1954.He then worked in exploratory well digging and later on in 1956 founded Mesa Petroleum. Under the watchful eye of Pickens, by 1981, Mesa grew to be one of the largest independent oil companies in the world. In 1989 Pickens founded Boon Pickens capital management; whose funds dealt with oil and natural gas and which earned him $2.7 billion by 2007.In 1997 T. Boone Pickens created the Pickens Fuel Corp., a company promoting the use of natural gas a cleaner-burning fuel-alternative for automobiles. Researches done by Pickens in the oil industry supported the claim made by other scientists, “the world’s oil supply is on decline’. As a result he created a fuel company in 1997 that promoted the use of natural gas a cleaner-burning fuel-alternative for automobiles (US Natural Gas). He planned world’s largest wind farm for Texas Panhandle. In order to revise US energy resources by promoting oil-substitutes such as natural gas, wind power, and solar energy, Pickens introduces “The Pickens Plan” in July 2008. Pickens has contributed hundreds of millions of dollars to various charities and Universities including Oklahoma State University, relief efforts for Hurricane Katrina, The University of Texas, and various programs supporting the well-being of families, children, teenagers, and animals (Pickens, 2008). 2. My Career Plan Taking the various internal and external factors into account discussed in the following sections, I have decided to for Finance major in Oil and Gas sector. It is not so much under my control to sketch and build a perfect career. Therefore, I have decided to implement principles and strategies of the American Business leader: T.Boone.Pickens into my career plan. 2.1 Selecting career goals Like Pickens ,the first goal is to create real value and not just earn money and expand personal wealth ( these will invariably have to follow ); To draw out academic and career goals I would rather prefer answering two questions: What qualifications and skills did I acquire ? What knowledge to develop and experience to gather? Then my task will be to complete and submit application and financial aid requirements for admissions to postgraduate ‘oil and gas sector’ financial consultant programs. 2.2 Knowing Yourself Everyone should know and understand his likes and dislikes choosing a career and becoming successful. Listed below are the questions I answered while exploring myself in choosing career: What do I enjoy doing? What am I good at? Which field interests me? How much adaptive am I to changing situations? 2.2.1 Strengths Communication skills. I work intelligently with all kinds of people and understand that each client has different priorities and objectives about projects and work tasks. I keep this in mind when communicating tasks that need to be accomplished with positive reinforcement and awareness of what others are working on. Flexibility to handle change. Since my childhood I had been able to adapt myself easily to any kind of social & cultural changes. I can therefore turn around a negative working environment and develop a very supportive team. Good analytical and planning skills During my education I have learned the skill of analyzing and planning before start working on any task. . This has always benefited me to set goals and try to achieve them. Full commitment towards work I had always completed assignments, term papers or any other task sincerely and punctually. Team Player I coordinate any team activity with patience, determination and constantly motivate team members to reach the goal. 2.2.2 Weaknesses Hobbies I get too focused on work and need to develop some after-hours hobbies. Over-friendly I am a sensitive person and many times help a friend beyond limit. This is good quality but sometimes people take extra advantage of me. 2.3 Moving On Apart from focusing on career every person must be aware of the physical limitations oh body & mind. I am on the verge of starting my career and do not have much practical experience of market realities. But I would like to constantly learn from client-customer based environment and keep myself updated. I must never feel embarrassed in accepting mistakes and improving myself while aiming to attain peak of success. To begin with I will look for a job, gather experience and capital for further investments. Moving ahead I plan to start my own business ventures and then work on chain of projects expanding my company. I will be interested in offering global expertise in market valuation analysis and provide a full-service cross-border capability to the clients. 3. Match between competencies and aspirations A deep insight into Pickens businesses unveil the fact that anyone selecting a career in Finance major should gain expertise in the Financial Skills: Financial Analysis, Cost Accounting, Budgeting, and Forecasting. Market studies show that oil prices are volatile, investment and activity levels are inconsistent hence financial sector gets turbulent. I need to work upon strategies in oil companies that help managing long-term resource needs, maximize short-term income, make the right commercial and partnership choices and generate sustained financial impact (Parry 2010).A look into my academic background and strengths reflects I have potential to play an important role in this sector in lowering costs, capturing new opportunities and realizing the full potential of assets. 3.1 Roles in the company Boone Pickens biography inspires me to become business analyst, one who can explore deep into the business, understand the processes and make use of the knowledge in the improvement and success of the organization. I wish to be known as a business tycoon in future handling a host of processes and activities such as creating stakes in funds, acquiring new companies, etc. I want to cultivate an employee-friendly work environment in the company and encourage employees to continue their professional development.  4. Development Plan for next role and Future Aspiration         I have learnt that in a changing socio-economic scenario one has to review career goals from time to time and chalk out new plans as required. Five years later, my company should be expanding with sales increased every year and simultaneously scouting for new business opportunities. Like Pickens I will also put my efforts in doing researches related to financial processes in oil and gas sector. Pickens’s predictions of barrel of oil costing more than $100 became a reality in 2008 when the prices suddenly rose to $145(US Natural Gas Production, 2008).My company must have created an appreciable amount of net assets by 2015 .I understand, that this not possible without taking pains and hard work. Over the course of career Pickens had raised  millions of dollars for many charities and  Universities.Apart from becoming a big business leader I will follow his steps and donate huge sum to opening schools, organizing job training programmes for unemployed, running  healthcares and help poor and disenfranchised to stabilize their livelihoods. I am incredibly grateful to the Forbes magazine for introducing me to T.Boone.Pickens, who will play a consistent role in my professional growth. Mine should be an influential position amongst the youngsters and the business winners. References Pickens, T. Boone. “The First Billion is the Hardest: Reflections on a life of Comebacks and America's Energy Future” 2008. "U.S. Natural Gas Marketed Production (Million Cubic Feet)". Energy Information Administration. 26 Nov .2008. Retrieved 2008-12-23.  Ozanin K. Michael and Schwartz. J. Peter. “Wall Street's Highest Earners" .May 21, 2007.www.forbes.com. Parry Peter (2010) “Oil & gas industry consulting”. March 30, Bain & Company Publications-detail. Read More