Analysis of Intended Career - Coursework Example

Individual Career Report Personal Details Age: Nationality: Languages: 18th March 2009 Table of Contents Table of Contents 2 Individual Career Report 3 References 9 Individual Career Report Existing Work Experience Work experience counts towards the adoption of a career. I have gained experience as a club promoter. Being a club promoter is not an easy job and you are required to do a number of tasks in order to attract people towards the club. I also performed many tasks for the promotion of my club. Being a club promoter, I learnt a lot about planning and execution of promotion programs for the club with the help of my resources, relationships and reputation due to which, the club gained good reputation. The administrator of the club was happy with my job and offered my good compensation. Initial Career Objective When I started on the BA (Hons) International Business programme in September 2006, my initial thoughts about a career centred upon becoming an event organizer because I have greatly appreciated my uncle who is also an event organizer as he informed me fully about his job requirements and expertise. However, as I was not fully convinced that event organization was really, what I wanted to do, so, I did not read for a specialist event organization degree but opted for International Business because this course of study was what most interested me at the time. Career Objective in Graduation Since beginning my undergraduate studies in September 2006, my interest in becoming an event organizer has faded, as, I have become enthused about a career in opening a restaurant in London. Opening a restaurant requires enough expenditure and also some experienced management is required for successful working of a restaurant. The restaurant business is going to be a family business because my father is interested in supporting me in opening the restaurant. I got interest towards opening a restaurant because of my study of international business. I selected London because it is a populated location and is also well established. Therefore, there are more chances of success of my business there. Analysis of Intended Career Career planning is not a negligible or meagre task. It requires much consideration. My consideration towards my career as a restaurant business owner requires a lot of struggle and expertise. Career choice and goal setting are considered to be the toughest tasks and doubts remain as to what should be opted and what not (Time-Management-Guide.com 2002). According to Manktelow and Fowler, (2007), “goal setting is a simple personal planning process”. I have planned for my future goal for opening a restaurant to a great deal. I have discussed my career choice with my father, who is very happy to hear about it and is ready to assist me in my career adoption. For opening a restaurant, there are many necessities that a person should be aware of. There should be required qualification up to the management level, so, that a person is enabled to manage and administer the requirements and needs of the business. A good management can be an experienced management. I think that after completion of my education, I should gain some experience about the market requirements, restaurant business and competition in London, so, that I can run a successful business and should be able to get enough revenue from my career choice. For a career in restaurant management and administration, one must not forget that human capital is the most significant issue. Human capital can be defined as the storage of expertise and knowledge that a person has or gains in order to perform labour and to generate good revenue. (Bowles and Gintis 1975) Human capital can also be explained as the expertise and knowledge gained by a worker by means of education and experience (Bowles and Gintis 1975). Education and experience, both are crucial for a person’s success in a career. In opening a restaurant, many professional and experienced workers are required at different posts and when so many different people are assembled in a place, there are also management requirements. In a restaurant, managers, administrators, waiters, supervisors, chefs, labourers and line cooks. With professional and reputed workers, the restaurant is able to gain positive reputation much earlier. The workers that are in the business of restaurant running have much experience of the business and can be considered as an asset of the business. The experienced and knowledgeable workers can also be considered as human capital of a business (Bowles and Gintis 1975). A person who is educated in relation to his future career and who has gained experience is regarded as the human capital for his adopted career. The division of labour and human capital are interrelated (Bowles and Gintis 1975). Human capital can be obtained by the education that one gets and by the experience or training, which one gets while being at a job. Bowles and Gintis (1975) inform about problems with human capital theory by Marx’s point of view. This study is applicable to my career adoption because in my opted career, human capital is the most important and crucial aspect and cannot be negated for any reason. In restaurant business, the restaurateur has to know the significance of his workers because they are the people who enable a restaurant to continue its business. The study also points out certain problems that can be there while applying the theory of human capital. The evaluation of the problems in relation to human capital theory is necessary for understanding the job requirements and problems (Bowles and Gintis 1975) related to opening a restaurant. According to Holland’s Theory of Career Choice, people tend to choose their careers according to their personality needs (Jones 2009). I am somewhat enterprising and realistic according to the personality types defined by Holland and due to this personality type; I am interested in a business that is associated with realistic standards and rules. As, I have an enterprising personality, so running a business will satisfy me and suit me because of its needs and my considerations towards the job. Restaurant business is an enterprising business, in which, the restaurateur is interested to make good revenue from his restaurant and my thinking is the same as that of a restaurateur. I have an intention of gaining educational expertise as well as experiential expertise while being at the job. For getting experience about the job, I have to work as a manager in a restaurant for sometime in order to understand the working and demands of the job. In addition, I also have to get education that helps me out in understanding the market needs and demands. I must be fully aware of the competition in the market in relation to restaurant business, I must be aware of the London market as I have intention to open a restaurant in London. I also have to meet a number of people who are already in the business of restaurant in order to get their views about the business and its requirements. Opening a restaurant cannot be considered as a small task because it has a number of demands and requirements. One must have enough finance to disburse on a business like a restaurant (Lundberg 1974). When the consideration of a place such as London is there, one must be able to identify the legal requirements and market needs of the place. In addition, one should be aware of the cost of labour, competitive market, governmental policies, financial expenditure, human capital, social setting, community, targeted audience, staff requirements, risk analysis and reputation of the location (Lundberg 1974). All the mentioned requirements are essential for opening a restaurant that is intended to run successfully and to generate a good profit. Therefore, it is quite clear that for opening a restaurant or for having a career in restaurant business, one must be fully knowledgeable about the necessities and requirements of the business as a whole. Human capital is very essential for a restaurant business in order to make the business prosperous and beneficial for the restaurateur as well as other people associated to the business. Training and educational needs of the business should be fulfilled in order to facilitate the business with needed human capital. After going through Holland’s Theory of Career Choice, I regard my personality suitable for opening a restaurant. The study by Bowles and Gintis (1975) is applicable for my chosen field because in this study, the writers indicate towards the problems with the theory of human capital. In addition, human capital is defined clearly that is very necessary for me to understand in order to think about opening a restaurant. Restaurant opening at a place that is very populated and famous for its various services and facilities is not an easy task and the interested person is required to know all the concerning details of the place along with legal and governmental policies in order to start a business that is profitable and legal. As a restaurateur, a person has a number responsibilities and for fulfilling the responsibilities, one should have knowledge of the field by means of education, training and experience. After obtainment of education and experience in the relative field, a person is capable to plan and execute mush responsibly (Manktelow and Fowler 2007). What to do between Now and Graduating For opening a restaurant, one must have qualification until bachelor degree level (Lundberg 1974). With higher education, the chances of success in opening a restaurant will increase. One must be aware of the market needs and requirements in order to open a restaurant at a location. One must be fully aware of the cost of labour, legal requirements, governmental policies and market costs involved in opening a restaurant (Lundberg 1974). In addition to all the mentioned educational qualifications as well as other requirements in relation to opening a restaurant, experience is also essential. Opening a restaurant requires financial input and expenditure but for running the restaurant successfully, experienced people are required that also become a human capital for the whole business of restaurant on the basis of their experience and obtained training (Lundberg 1974). Experience comes after being in the business. A person who is interested in opening a restaurant such as me, who is quite inexperienced should interview people in order to collect their experiences regarding the opening of restaurant. Experience counts a lot towards success in the career of restaurant business because a person becomes aware of all the necessary requirements, pits and falls, profits and risks and many other crucial aspects that are required to be considered (Lundberg 1974). As far as personal traits are concerned, a person should be enterprising, as I have mentioned earlier on. One should have management skills; should be observant and realistic; should be business minded and should have communication skills along with all other skills. Communication skills are essential for the success in a profession, no matter, what profession is it? Therefore, communication skills are required for opening a restaurant as well. I think that for opening a restaurant, no training programs are available. A person is able to get training by means of his experience and being at the job. Therefore, I will be trained for the job while being at the job. I have to take a number of steps before entering the career of opening a restaurant. Currently, I am studying for a degree in international Business that will be quite fruitful for my future career. Except, gaining a degree in International Business, I should have education in terms of management, that is required for opening a restaurant. For experiential knowledge, I am required to do a managerial job in a restaurant in order to gain awareness about opening a restaurant and restaurant business as a whole. Nearly, one to two years will be required for being experienced for my selected career. For starting a restaurant business, the degree in International business is enough supportive but still, education in management will be an additional qualification that will help in understanding the business to a great extent. Opening a restaurant is quite a demanding career and a person should be fully aware of the requirements and needs of the business as a whole in order to adopt it as a career in his future. References Manktelow, James and Fowler, Kelly 2007, Personal Goal Setting. Retrieved on 15th March 2009 from http://www.topachievement.com/articles/personalgoalsetting.html Jones, Lawrence K 2009, The Career Key: Holland’s Theory of Career Choice and You. Retrieved on 15th March 2009 from http://www.careerkey.org/asp/your_personality/hollands_theory_of_career_choice.asp Lundberg, Donald E 1974, The Hotel and Restaurant Business, Cahners Books, Boston. Bowles, Samuel and Gintis, Herbert 1975, The Problem with Human Capital Theory--A Marxian Critique, American Economic Review, 65 (2), pp. 74-82. Time-Management-Guide.com 2002, Career Goal Setting. Retrieved on 15th March 2009 from http://www.time-management-guide.com/career-goal-setting.html Read More