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Any business owner needs a lot of skills for his business to succeed. He may be a first class engineer but if he cannot sell his product his business may fail. Likewise he could be a wizard financier, but if the people he employs are well managed his business may collapse. So running a successful business means being able to access many skills. As our business grows, the range and involution of skills our business needs will grow too. We must make the Guide that outlines the kind of skills that our businesses need to function successfully and outlines the skills required by those heading a business, like people management, leadership, team-building and strategy-setting. It will advise us on where to go to find help and training to ensure all these skills needs are met in our business.
The essential (KSA) that I require in my new work
I am thinking to start my career in building my own company in manufacturing sanitary items like bath rooms and spa ,and As a business owner it's important to me to identify and meet the core skills that my business needs to be successful The kind skills my businesses require are:.
The ability to cope with long hours and hard work.
The inner resources to deal with stress and risk-taking.
Strategy setting and the ability to build and manage a team.
Recruitment, dispute resolution, managing training and motivate
Personal business skills like computer oral and written communication,
Organisational skills whatever business I am running whether I am a sole trading graphic designer or I am head of a manufacturing company employing dozens of people.
There are also functional skills that all businesses need. The smaller our business, the more of these skills I will need:
finance and cash flow planning,
credit management and managing relationships with my bank and accountant
marketing like advertising, public relations and promotion
sales, negotiating, pricing ,customer service and find competitors
administration like accounts preparation, billing, payroll handling and bookkeeping
Purchase and buying, such as tendering, managing contracts, stock control.
As my business grows I will needs to access more skill For example:
The finance arrangements become more complex, I will need more staff to manage the company accounts, and manage and find outside investment
The marketing may need more sophisticated so I will need to understand the media and advertising
Employee's number may increase I will need to point where I need to hire HR professionals.
Because business is involved in a sector where health and safety is important, manufacturing and construction, I may need to hire health and safety professionals
For new equipment and processes in the business I may need to hire technical specialists
The growing business it is essential that I must recognise when new skills are needed and how can I take the right steps to meet them.
Find the time or have the ability to meet all the recruitment myself by considering building a management team.
Leadership and strategy
Strong leadership is the very important to all successful businesses. Good leaders offer direction to people, and aim to create the conditions for them to achieve results and get them to share their vision for the business. So we can show leadership to staff by providing personal encouragement, involving them in decision making, helping to build their confidence to use their own initiative recognising and rewarding good performance by ensuring good two-way communication and inspiring them with a vision for success.
Our businesses need a strategy to succeed. The strategy is different from a business plan. It is longer, is more visionary and looks further ahead.
It's easy to lose sight of the larger context, particularly in a small one. But spending time on strategy will help as by knowing where my business is heading and how to position it to get there and understand the challenges that my business facing and the best ways to address them by improving the overall performance of my business.
The advantages and disadvantages of self employment:
I consider the self employment as good option for me. Because this could be the ideal time to put my years of experience to good use and introduce a groundbreaking new idea to my industry sector.
Running a business can also give me a better work-life balance, giving me a more time for other activities and allowing me to work around other concerns
A Huge working domain and Huge financial incentive and Huge learning
Can work in projects of liking.
It is very important to consider that self employment is a Maximum financial burden and maximum risk to any business person because no one know what will happen tomorrow
Limited knowledge. And Limited financial capability
Many business tools can help as determine good and successful business and the popular one is a SWOT analysis, in which we must consider all our business strengths and consider all our business weaknesses and by identify any of our business opportunities also by identifying any threats facing our business now and in the future all that comes by analysing our results carefully will know how to build on strengths, resolve weaknesses, exploit opportunities and avoid threat
Team and self Evaluation
As a part of my work in PDP assignment I will submit this report on Team and self evaluation of my knowledge about Business, beliefs ,Personal values, , attitudes and other skills which are required or it will be more useful in setting up my own risk after successful finish of my course. This report is divided into three parts, which are as mentioned below: Firstly the part which gives brief introduction about the team and self evaluation. Secondly I will evaluate and explain the qualification or skill covered in the provided self employment test .Thirdly I will discuss my team evaluation and how it works.
As an individual I was member of a team which has six student, the members of my team have chosen me to be the team leader, their choice was because I am bit older than them and they considered me that I have more life experience than them, and this could support the main idea of achieving the goal of the team. I have the ability of taking quick and responsible decisions, I am not type of a person who likes to sit and wait for others to do their tasks. From the beginning I told the team members that we have to set our goal, and that came through organise ourselves and our work. I was responsible on the team meetings arrangements, what I was doing is be sure that everyone in the team knows everything and I was also improving the way we communicate with each others. Most of the time I was giving new ideas while discussing any issue related to our work and my pleasure was when the team members feel really satisfied about what I was saying. Sometimes I was really stressed because I felt that I have the big responsibility and I have to prove for myself first that I am able to do so, and on the other hand I wanted to prove to my team members that your choice of your leader was absolutely the right decision. Some of the team members were really upsetting me because they did not have the required level of respect that a team member should have, even they agreed on the team policy from day one when the work started. I am able to talk loud and to transfer my thoughts clearly to other members of the team, also some members did not have the ability to speak loudly so what they used to do is to ask me to be their representative. I am very picky person but in a good way, I mean I am very careful about the work's details and I do not leave anything to the last minute. I am very kind person when I ask someone in my team to do things and I do not like to pressure them to do any task, at the same time I am behaving the same way and I do not feel stressed when any one in the group asked me to do extra things. I was always open minded with my team m embers and all the time I am ready to accept suggestions and Ideas. All my team members are my friends and I know them before forming this team but I have to point out that my team work with them makes me know new things about their behaviours and they way they deal with different things in working atmosphere. I am very friendly person and I like to expand my relations because I believe in an old wisdom which says '' A thousands friends but not one enemy''. All the team members were keen to take my advices and suggestions because they consider me very practical person at work and I have my special way that makes people very satisfied and comfortable about the new suggestions and ideas. I like to be creative and sometimes I am very good in imaginations which could be real at work. The plans and fixing the goals were very important for me from the beginning and this is why I was very clear with the other members of the team to clear everything and take any notes that could serve our team work plan.
As a team of six members we have selected different manufacturing companies to do the research on. We classified each one's task and what he has to do, when we all finished our tasks, we put our work together to appear as a one report. We always held meetings to discuss our work, to know if we are going in the right way and to see if we are on time and the work in matching the plan that we put. The good thing in our team that we used to listen to each others, respect each others and always appreciate each other's work because at the end we all want to lead this team to reach to the safe place which is the successful and completion of the required task. Each member complete the other one because we all need to develop our KSA in order to be ready for our future carrier, so we shared the information and did our best to get to the development that we are looking for.
As an individual I have a lot of behaviours which I like and also I do not like, but working in a team improve the ones that I like and minimise the ones that I do not like, for example I am very patient and now I am more patient, and I like to make decisions by my own but now I am very keen to take the decisions with a group of peoples. Team work has advantages and disadvantages but the hand which carries the advantages is higher than the other hand. Team is sharing and we all have to be happy of sharing because this is the main rule of life and if we get it right we will be very satisfied peoples.