Strategic Rationale and Masters Objectivity - Essay Example

The Masters Skills Personal Development Plan (Insert Module (Insert Module (Insert of Masters Degree) NumberTotal Number of Words: 1,501 Table of Contents I. Strategic Rationale, Masters Objectivity, and Self Analysis …………….. 3 II. Strategic Analysis of My Masters Abilities ……………………………… 3 III. Communication and Assessment One ……………………………………. 4 IV. Working in Teams ………………………………………………………… 5 V. Developing My Academic and Scholarship Abilities …………………….. 6 VI. Personal Reflections on Masters Learning ………………………………… 6 References and Bibliography ……………………………………………………… 8 Appendix I – Self-Evaluation of Leadership Style .................................................. 9 Appendix II – Personal Action Plan ........................................................................ 13 Appendix III – SWOT ............................................................................................ 14 Strategic Rationale, Masters Objectivity, and Self Analysis As a government employee who specializes in the field of Budgeting and Finance, I was given the privilege to enrol for a Masters in Business Administration (MBA) under a government scholarship programme. Basically, it was the government institution where I was employed that chose the University of Wolverhampton Business School (UWBS) over any other schools in UK. In order to improve my knowledge and skills in financial management, I accepted the offer to study MBA course at UWBS. Within a short-term period, I expect this course to further enhance my knowledge and skills in business management, accounting and financial management, human resources management, strategic management, marketing management, change management, and social communication skills among others (UWBS 2012). Furthermore, I also expect this course to improve my analytical thinking and basic research skills. After taking this course, my long-term goal is to pursue a financial management career in the government’s Ministry of Finance. My personal and career ambition is to hold the highest possible position in a government financial institution. When working for a government institution, the culture of corruption and red tape is quite common and is very difficult to control. With regards to this matter, Tanzi and Davoodi (2000, pp. 3 – 4) revealed that there is “a negative association between corruption perception indexes and levels of economic development which is measured by the real per capita GDP”. Not all students who are enrolled are currently employed in a business organization. In order to help fight corruption within the public sector, I expect this MBA course to give me the opportunity to reflect upon the role and responsibilities of internal and external auditors including the importance of corporate governance within the practice of accounting and finance (Moeller 2009). Strategic Analysis of My Masters Abilities Among the basic subjects that I have taken up at UWBS, the most applicable to my chosen profession is accounting and finance management. Before taking up the Masters studies, my personal and interpersonal skills were not quite developed. Although I worked for a government institution back in our country, it was quite unusual for me to be able to be exposed and mingle with a diverse group of people. With regards to my academic skills, areas that needs improvement includes doing research work. Although I was already familiar with regards to some of the theories related to marketing, human resource management, operations management, and basic accounting and finance, topics such as strategies used to conduct an independent business analysis project, strategic management, and change management issues are quite new to me. In order to cope with these challenges, I realized that I need to learn to become more self-directed when it comes to learning new theories and concepts which I will encounter throughout the MBA course. Although I am familiar with how a small business organization is being operated, I had to admit that I need to go through a series of reading and reflection to be able to keep myself up-to-date with the modern ways of managing a business. Each time I had a free time, I chose to go for an advance reading so I could have more time reflecting on how to conduct a business analysis project. After completing this course, I will have stronger analytical and communication skills, and gain better insights with regards to the importance of leadership in managing change. Aside from being able to apply Porter’s Five Forces framework and PESTLE framework when analyzing the external factors that could affect the business performance of a company, I am confident that I can also apply the SWOT model in identifying internal and external factors that could also affect the long-term sales and profitability of a company (Herzog 2010). (See Appendix I – Self-Evaluation of Leadership Style on page 9; Appendix II – Personal Action Plan on page 13) Communication and Assessment One The way we unconsciously communicate with other people can either positively or negatively affect our business relationship with our clients and co-workers. Therefore, effective communication is considered the key behind a successful project. English is a universal language. Using this language, each of the Masters students should develop their verbal and written communication skills. In response to globalization, the integration of cultural diversity in business management has gained much importance. Since it is common for multinational companies to hire competitive employees with different nationality and culture, each employee should support the top management’s decision to effectively communicate the significance of cultural diversity to the success of a business organization (Syed and Ozbilgin 2010). The feedback that I received from the assignment one strongly suggest the need to improve my ability to use of the English language both in verbal and in writing. Based on the model of Johari’s window, each person has the open-self, hidden-self, blind-self, and the unknown-self (Thorne 2001). Basically, the feedback that I got made me realized that I seriously have to find a way to enhance my English communication skills further. In relation to cultural diversity, my strengths include my ability to focus on equality and being able to set a clear direction. However, part of my weaknesses is my inability to speak out my thoughts clearly. In fact, my poor communication skills could make other people become confused of what I am trying to say. In line with this, my reputation as a good student serves as an opportunity to improve my English communication skills. However, my inability to convert this personal development plan into action serves as a threat for further personal and interpersonal improvements. (See Appendix III – SWOT on page 14) It is through realization of one’s own weaknesses that gives the person the opportunity to improve their personal qualities. Therefore, the feedback that I received from my tutors serves as an opportunity for self improvements. Working in Teams As a student, I am a self-directed learner who has a strong time management skills, ability to adapt with different work environment, and acknowledges the skills and talents of other people. Based on these qualities, I can work effectively as a team member without causing any serious conflicts with my group members. The word team is defined as “a small number of people with complementary skills who are committed to a common purpose, performance goals, and approach for which they hold themselves mutually accountable” (Katzenbach and Smith 1993, p. 45). In the case of students who are taking their MBA, performance goal is aimed at improving the existing skills and knowledge of each student by constantly interacting with other students. According to Akbarzadeh (2011), teamwork exceed the learning advantages of those who prefers to work along. As a common knowledge, each person is a social being that is capable of developing a set of unique talent, knowledge and skills. Due to the limitations in developing one’s own knowledge and skills, each student is required to constantly interact with their group members. Based on this context, a continuous social interaction is one of the best ways to enhance their acquired skills and knowledge. It means that through teamwork, each student will be given the opportunity for higher learning. Developing My Academic and Scholarship Abilities Research studies can be made using primary or secondary resources. A primary research study means that the researcher needs to gather raw data through the use of either quantitative or qualitative research survey questionnaires. On the other hand, secondary data can be utilized when conducting a systematic review of literature. For example, when searching for research survey respondents, the researcher can make use of snowball sampling technique. It means that the researcher should invite qualified research interviewees through “referrals” (Craig and Douglas 2005, p. 286). In case a potential research interviewee cooperates well with the researcher, a snowball sampling technique will be applied in the recruitment process of other highly qualified research interviewees. To avoid any forms of academic misconduct, researchers should respect to the copyright laws. In line with this, Veit and Gould (2010) mentioned that the researcher should always give credit to the main sources of information. Therefore, the researcher should carefully follow the proper APA or MLA in-line referencing on top of presenting a list of references at the end of this study. Personal Reflections on Masters Learning In taking the 7MG001, I realized that different subject such as the independent business analysis project, accounting and financial management, human resources management, strategic management, marketing management, change management, and operations management among others are all interrelated with one another. Although each subject has different use and function, each one of these subjects are useful in terms of increasing the overall sales and profitability of a company. Since each student is required to work in a team, I can say that my personality has developed in terms of having a more superior interrelationship with people of different nationality and race. Aside from becoming a more responsible and confident person, I managed to develop a positive outlook when it comes to group and life-long learning. References About.com 2012. Quiz - Whats Your Leadership Style? [online] Available at: [Accessed 29 February 2012] Akbarzadeh, K. 2011. Leadership Soup: A Healthy Yet Tasty Recipe for Living and Leading on Purpose. Xlibris Corporation. Craig, S. and Douglas, S. 2005. International marketing research. 3rd Edition. John Wiley & Sons Ltd. Herzog, C. 2010. Strategic Tools in Dynamic Environments: A Framework. Norderstedt, Germany: Grin Verlag. Katzenbach, J. and Smith, D. 1993. The wisdom of teams: creating the high-performance organization. McKinsey & Company, Inc. Moeller, R. 2009. Brinks Modern Internal Auditing: A Common Body of Knowledge. 7th Edition. Hoboken, NJ: John Wiley & Sons. Syed, J. and Ozbilgin, M. 2010. Managing cultural diversity in Asia. GL, UK: Edward Elgar Publishing Ltd. Tanzi, V. and Davoodi, H. 2000. Corruption, growth, and public finances, Issues 2000-2182. IMF Working Paper. International Monetary Fund. Thorne, K. 2001. Personal coaching: releasing potential at work. London, UK: Kogan Page Ltd. UWBS 2012. Master of Business Administration (MBA) [Online] Available at: http://courses.wlv.ac.uk/Course.asp?code=BU008P01UVD&tab=what#courseNav [Accessed 1 March 2012]. Veit, R. and Gould, C. 2010. Writing, Reading, and Research. Boston, MA: Wadsworth Cengage Learning. Appendix I – Self-Evaluation of Leadership Style Results indicate that your leadership style is both: Participative & Delegative Participative Leadership Participative leaders accept input from one or more group members when making decisions and solving problems, but the leader retains the final say when choices are made. Group members tend to be encouraged and motivated by this style of leadership. This style of leadership often leads to more effective and accurate decisions, since no leader can be an expert in all areas. Input from group members with specialized knowledge and expertise creates a more complete basis for decision-making. Delegative Leadership Delegative leaders allow group members to make decisions. This style is best used in situations where the leader needs to rely on qualified employees. The leader cannot be an expert in all situations, which is why it is important to delegate certain tasks out to knowledgeable and trustworthy employees. Note: Good leaders utilize all three styles depending upon the situation. For example: Use an authoritative style if a group member lacks knowledge about a certain procedure. Use a participative style with group members who understand the objectives and their role in the task. Use a delegative style if the group member knows more than you do about the task. Source: About.com, 2012 Appendix II – Personal Action Plan Start of School Personal & Interpersonal Skills Intellectual Skills Not quite developed - Weak leadership skills - Weak problem-solving skills - Weak analytical thinking - Weak social communication skills Needs improvement in research work Familiar w/ theories related to marketing, human resource management, operations management, and basic accounting and finance Not familiar w/ strategies used to conduct an independent business analysis project, strategic management, and change management issues End of School Personal & Interpersonal Skills Intellectual Skills Improved leadership skills Improved problem-solving skills Improved analytical thinking Become more self-directed learner Better social communication skills Increased ability to apply theories and framework in real-life case scenarios (i.e. SWOT, PESTLE, Porter’s Five Forces framework, etc.) Effective change management theories Appendix III – SWOT Cultural Diversity Strength Weaknesses Opportunity Threat Focus on equality; Set a clear direction. Inability to speak out thoughts clearly. Reputation as a good student Inability to convert this personal development plan into action Academics Skills Strength Weaknesses Opportunity Threat Self-directed student; Strong and firm decision-making; Strong time management skills; Acknowledges and respect the skills and talents of other people; Flexible in adapting to different work environment; Ability to work in a team. Lack of research skills; Insufficient knowledge on tools and methods to fully understand movements in the financial markets; Weak presentation skills; Inability to anticipate future opportunities in financial investments. Improve skills and knowledge from academic lectures and other sources of relevant information; Ready access to school library and online databases; Attend specialized seminars and workshops; Access to information technology. Feeling of homesickness; Overlapping time constraints and deadlines for the submission of homework; Political, environmental and economic conditions between UK and Saudi Arabia. Read More