Review And Study On Personal Development Plan Commerce Essay

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I have been appointed as a manager of Finance 4 U and the first assignment that I need to undertake along with other managerial activities is to prepare a detailed Personal Development Plan. The plan will include strategy of developing a plan, goals and objectives, milestones, timescales and resources needed. Hopefully the PDP that I will prepare shall provide guidelines for the rest of the employees on how to form the PDP for themselves leading to the betterment of the whole organisation.

2. PERSONAL DEVELOPMENT PLAN DEFINITION

Personal Development Planning is basically a structured process developed by an individual to relook and reflect upon his/her own current situation, performances, achievements, goals and to plan for their personal, educational and career development. It is a process or tool which can be adopted by individuals at all levels and all areas of life.

If the PDP is well planned and used effectively, it tremendously improves the ability of individuals to review, plan and take responsibility for their own personality and learning improvement and to understand what and how they learn and develop. PDP helps individuals articulate their learning and the achievements and outcomes more explicitly, and elaborate the fact that learning is a lifelong activity.

Putting it bluntly, Personal Development Planning is a process by which an individual can manage their own development through a process of reflection and structured planning on how they can meet their own goals. Many organisations and universities require their employees and students to prepare their PDP and follow accordingly as the importance of a PDP is widely understood in this modern era.

3. PDP PURPOSE AND IMPORTANCE

The purpose and importance of a Personal Development Plan is providing the individual with an aid to learn and develop more effectively and to be able to:

  • Improve the way of learning different scenarios via different methods.
  • Understand those scenarios and methods and also be able to record them so that further progress could be made in the future.
  • Make him/her responsible enough to understand and manage his/her learning process as a whole.
  • Make him/her more independent.
  • Set up both long and short term goals and objectives.
  • Understand the resources needed to achieve those objectives.
  • Set up a list and analyse his/her own strengths and weaknesses.
  • Monitor his/her performances and progress against previously set milestones and timescales.
  • Take corrective actions if necessary on the progress.
  • Improve on his/her effectiveness and efficiency.

4. CURRENT SITUATION

In order to explain my current situation I have identified and classified the following facts into my educational, professional and personal status.

Educational:

  • I have completed my Master's Degree in Business Administration (MBA).
  • I have completed all papers from Association of Chartered Certified Accountant (ACCA) but haven't completed the 3years of practical experience requirement.

Professional:

  • I have worked as a junior accountant for 6 months in a UK based company.
  • I have worked as an assistant to the Finance Controller for 1 year in a UK based company.

Personal:

  • My presentation skills are not satisfactory as I have always been quite shy on that respect (although good at interviews).
  • My leadership skills are not quite as much as I'd have liked as I have never really tested my leadership skills due lack of experience.
  • My time management skills are not adequate as I believe there is a room for improvement.
  • My decision making skills are definitely under par as I believe it is vital in this today's modern world.
  • I don't seem to remain motivated and positiveover a long period of time.

5. GOALS

My short-term goals are as follows:

  • Understanding how the company is operating.
  • Understanding the reasons for low motivation amongst staffs.
  • Addressing the lack of awareness of skills development amongst staffs.

My long-term goals are as follows:

  • I need to improve my presentation skills significantly.
  • I need to develop my leadership skills.
  • I need to better my time management skills.
  • I need to enhance my decision making skills.

I need to learn to be more motivated and positive.

6. STRATEGY FOR DEVELOPMENT OF PDP

My basic strategy for the development of PDP was not to develop a completely new system but alter the currently available practices and processes and produce a system that works for me and which will reflect my goals, skills and performances. Hence my strategies for development of PDP are as follows:

  • Materials from online and other sources about how PDP can be developed efficiently are to be gathered.
  • As the goals are already identified, timescale and milestones for the attainment of those goals are then determined.
  • Resources needed and the feasibilities of those resources for those goals to be achieved are then amassed.
  • Any obstacles or hindrances are ascertained and contingency plans be made in advance.
  • Review and Monitoring of the performance will also be an essential part of my PDP.

7. PDP

Name: Sudhir Gurung Company: Finance 4 UPosition: Manager

Period from: Jan 1, 2010 To: Jan 31, 2010

a. Short term

Current Situation

Desired Situation

Resources and support needed

Success Criteria

Target Dates

- New to the company.

-Very less idea why staffs have low morale.

-Understanding how the company is operating.

-Understanding the reasons for low staff morale.

-Increasing awareness about the need and importance of skills development amongst staff.

-Good briefing by Managing Director.

-Support and co-ordination from employees.

-Authority to do interviews and issue questionnaires if necessary with staffs.

-Authority to conduct meetings and seminars.

-Get a general idea about the operation of the company.

-Identify the reasons for low staff morale issues.

-Every staff is clear about the necessity of skills development for themselves.

-Perform a preliminary meeting with Managing Director and receive clear briefing and guidelines before joining the office on 1/1/2010.

-Conduct interviews and questionnaires by 15/1/2010.

-Conduct final meeting and elaborate your findings by 31/1/2010.

b. Long Term

Skills

Current Situation

Desired Situation

Resources and support needed

Success Criteria

Target Dates

-Presentation Skills

-Leadership Skills

-Time Management Skills

-Decision Making Skills

-Motivational Skills

-Good speaker at interviews but lack flair and command while speaking in public.

-Excellent public speaker.

-

8. REFERENCE

Online

http://www.leeds.ac.uk/sddu/gts/pdp_student.html

http://www.qaa.ac.uk/academicinfrastructure/progressfiles/guidelines/pdp/pdpguide.pdf

http://www.engsc.ac.uk/downloads/resources/pdp.pdf

Paperback

R. Grit, N. van der Sijde, Career Development, Managing Your Competencies- The Personal Development Plan, 2008, page 200.

Sonnentag Sabine, Psychological Management Of Individual Performance, Revised Development Plan, 2002, Page 516.

5

PREPARED BY SUDHIR GURUNG/ST0004436/LONDONSAM

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