Self-Evaluation Learning and Action Plan - Essay Example

? Self-evaluation Learning and Action Plan Table of Contents Assessment 2 – Part 3 Interim Learning Evaluation 3 Assessment 2 – Part 2 6 Action Plan 6 References 8 Bibliography 9 Assessment 2 – Part 1 Interim Learning Evaluation This study aims at evaluating the action plan stated in assessment 1. This is because the plans for further actions cannot be designed or developed unless and until the pass is not assessed. Assessment is important as people can identify scopes of improvement and positive aspects from the past or previous action plans developed towards constructing a successful future. According to my last assessment action plan, I reside in Australia where I am an undergraduate student. I always dreamt of being a successful entrepreneur and helping the poor and needy by contributing towards their betterment. However, becoming successful in Australia for a novice like me was difficult, so after much research I found Indonesia to be the most suitable market for developing my business. With this aim in mind I had set a timeline of 10 years and developed an action plan for myself. I also chose the business of manufacturing and selling water bottles after conducting a research with an experienced businessman in Indonesia. My action plan starts from my market research in the market of Indonesia. Studying the market in Indonesia requires 6 months. In this time period I will be analyzing the external business environment of the country. The next step in the action plan that would be studied is the bottle industry of Indonesia. This would also take a time period of six months. It would help in assessing the bottle makers in Indonesia and also help me to understand their strategies. Then a consumer analysis would be done, which would take another 2 months. This is to understand the preferences of the buyers. So almost a year is necessary for market research, which would include the above functions (Schreuder, 2006, p. 301). After a year of analysis, a plan has to be developed regarding the infrastructure for development of manufacturing plant, land or property requirement for the manufacturing plant. Another 22 months were assigned for this task, which is another 2 years. The recruitment process for the manufacturing plant and the office would take another 6 months. After recruitment of relevant staff, the business can be started. The basic functions of business can be conducted, such as manufacturing, marketing, selling and other related functions. After I establish the business and settle all the functions smoothly, opportunities for diversification can be searched. If suitable options are found, then further expansion or diversification would be conducted utilizing the available resources in the next 2–3 years. This is my action plans for future, which I developed in assessment 1. This is what I have set to achieve, but I haven’t achieved it yet because I am still an undergraduate student, as mentioned above. This does not mean that nothing has been achieved towards my way to success. The studies which I am doing in Australia would definitely be the initial step towards my climb to become a successful businessman in Indonesia. From the action plan developed by me in the last assessment, I realized certain significant facts that would help me to lead my way towards my developed action plan. It is easy to create frameworks and plans, but in order to develop and follow long-term visions, one has to realize what they want to be, who they want to be and how they want to be. The interval between now and the time of implementing the action plan is the best time for developing entrepreneurial skills in me. The road for development of a successful business starts with gaining good knowledge about the industry, developing certain basic skills such as managerial qualities – leadership qualities which can be cultivated by taking part in events in the institute. Further, if I also go for completing my masters, then it would be an added advantage for me. Not only will I be able to understand the nuances of management and strategies to run an enterprise but my skills would also be backed by my academic knowledge. It would help me to win the trust of the banker from whom I would borrowing capital for my business, the suppliers or vendors who would be supporting my business based on my knowledge ability and expertise. I have discussed my action plans and also the skills which I would be requiring in future to achieve in order to fulfill my dream of becoming a successful businessman in Indonesia, but in this part I will be discussing capabilities that I do not have till now and I have yet to achieve. So this would be a reverse journey to the beginning. The objective behind doing this is to evaluate the gap that is still there between what I am and what I have to be to follow my action plans. If I start evaluating myself from where I stand now, I can say that I still need to develop certain mindset before moving towards the goal (Brown, Poissant, Lockard, & Mallison, n. d., p. 1). The first thing is to be patient and hard-working. This is because the life of a student is different from that of a professional. Secondly, I need to enhance my leadership qualities by taking initiatives in conducting important events or seminars, etc. Thirdly, I should inculcate the habit of working under a fixed schedule, like employees work in the office. This can be done by working somewhere on a part-time basis so as to understand the business operations. Fourthly, there is a need to enhance management skills through management of multiple tasks efficiently, and lastly, one must gain more and more knowledge about entrepreneurship. After describing my future actions and the milestones I still need to achieve in order to reach my goal, I can say that future is uncertain but certainty can be achieved through right planning and monitoring. There is a major difference between just becoming an entrepreneur and becoming a successful businessman. The difference is success. Success can be only achieved through knowledge, process, skill, patience and hard work. Assessment 2 – Part 2 Action Plan I developed an action plan for setting up a business of manufacturing and selling water bottles. I chose this business because the initial capital requirement in this business is low and scopes are plenty. The market for water bottles is not yet saturated, so opportunities for being successful in this industry were seen, but at present I am an undergraduate student (Phillips & Gully, 2009, pp. 67–68). The action plan in Assessment 1 covers my action for business, but the journey from my present status to my 1st action plan has not been developed. So in this assessment the action plan from undergraduate studies to the action plan would be developed in Assessment 2. Action Objectives Time Completing undergraduate studies Concentrating on the undergraduate studies for good scores so that the academic background would be strong 12 months Going for master level studies on entrepreneurship Master level studies on entrepreneurship would help in gaining knowledge about starting one’s own business 24 months Working as a part-timer or full time employee Working for a company would help me to understand the internal functions of the organization 6–12 months Identifying the business environment of the markets of the eastern countries The external environments of the Asian countries are different from other countries, so a thorough study is required 6 months Developing a feasibility report for the business Developing a feasibility report is important in order to assess the financial, environmental, marketing, operational and other related aspects of the business proposal 6–12 months Conducting a research for identifying the funding sources for the business Sources such as banks and financial institutions should be identified for funding 6 months Identifying the vendors, suppliers, intermediaries in this industry (water bottle manufacturing) and gaining more knowledge about it Suppliers and vendors are very important in manufacturing business 6 months References Brown, M., Poissant, P., Lockard, C., & Mallison, A. (n.d.). Developing a personal career strategy (Pcs). Retrieved from http://mbastudents.smeal.psu.edu/career-services/documents/personal_career_strategy. Phillips, J. M., & Gully, S. M. (2009). Strategic staffing. New Delhi: Pearson Education India. Schreuder, A. M. G. (2006). Careers: An organizational perspective (3rd ed.). Cape Town: Juta and Company Ltd. Bibliography Chambers, R. (2005). Career planning for everyone in the NHS: The toolkit. London: Radcliffe Publishing. Etu. (n.d.). Introduction to planning. Retrieved from http://www.etu.org.za/toolbox/docs/building/webplan1.html. Read More