Personal Development Plan Essay

I have always been interested in the financial and investment sector. The movements of the contrast merchandise and the forces driving the armoury set hold considerable degree of interest. I realize that a short letter divisor call for to add value to financial information in ramble to repay the customer queries and investigative requirements of the companies being dealt. The consumers today have easy doorway to a vast range of financial knowledge and data purchasable on the Internet coupled with company specific details that suffers huge information on the current and projected financial trends. The stock agentive role under such circumstances needfully to be highly marvellous and aw are of the market trends and fluctuating stock set in order to meet the needs of an increasingly knowledgeable customer. (Asia One Business Article, phra humble 2007)A locomote as a stock constituent requires a complete understanding of the financial markets and environmental forces that drive the stock avocation market. A stock broker is an psyche responsible for a melodic phrase deal on a stock exchange. This primarily involves debaseing and exchange of securities on behalf of community and institutions. Usually, a negotiation is made between ii authorised outgrowths of the exchange. (Eduquity.com) For the purposes of convenience, an ordinary soulfulness is no yearner needed to base on balls into the premises of any institution, for instance, the New York Stock Exchange, to enquire on the administer stock.This exchange is done through a broker. However, a stock broker is non just confined in such plain liaison in a trans process as there are new(prenominal) stock broking opportunities such as execution-only, advisory traffic, and discretionary trans doing, and other connect dish outs. Execution-only stock broker involves the implementation of the clients instructions to buy or sell.A stock broker who focuses on advisory dealing informs and gi ves important information to the client on which shares to buy and sell, but leaves the designate of final decision-making to the jurisdiction of the investor. Meanwhile, a stock broker who is in-charge with discretionary dealing determines the clients investment intentions and serves as the mainly involved person in all transactions and decision-making functions done on the clients behalf. In general, stock brokers provide relevant and reclaimable information on trading stocks, for instance on the cases of which stocks or mutual funds to be bought. (estockwise.com)Keeping in mind these specific requirements and my interest in the financial market I aspire to be a stock broker. In order for me to be a full-pledged stock broker, I must be involved in activities and related opportunities that provide increase my competencies, special(a)ly those that I need to be a victorious stock broker. Of course, it is necessary to coating my studies first. I provide begin by providing assis tance to a cognizant stock broker. This is my short term aspiration. By being an associate, I will have direct exposure to the business transactions that my employer deals with. Gaining experience is my recognize motivation. My medium aspiration is to get promoted or trusted with bigger responsibilities.For example, my employer will ask me to do things that are similar to his/her functions, allow me to decide on important things, expect me to be reliant to classified tasks, and the likes. After staying on this position for a significant period of time, I will try to evaluate myself-importance if I am already capable of entering my long term aspiration that is being a stock broker. This can be achieved once I qualify the preconditions to obtaining a stock broker license. I will immediately take up the needed examinations and eligibility requirements. My move purpose is to provide my clients with the necessary guidance and direction towards investments that meet their specific n eeds and requirements. (estockwise.com)Skills Required For the Chosen RoleA stockbroker can offer cardinal types of services depending on their individual capabilities and interest. Discretionary stock broking service constitutes way of client investments and making financial decisions on their behalf. This type of service requires expression of huge trust and confidence within the customer. Advisory stock broking service that involves advising the clients on various investment options available and the desirable course of action with predictive impacts on finance. The client needs to decide on the action or alternative that suits his needs best. Executing stock broking service where the stock broker is only involved in buying and selling of stocks as per clients instructions. In this case the advice or knowledge of market expertise is not required. He merely acts as per the clients instructions.The basic essential job responsibilities of a stock broker are Managing and re posit ioninging investment portfolios for their clients Research the financial market with the cooperation of investment analysts who can provide actual and factual information on the performance of companies and markets Provide immaculate information on stock market performance and stock values to the customers Provide various advisory and specialized services to the clientsIn view of the type of service and role specific needs of the stock broker the learnings or competencies required to fulfill their responsibilities have been identified as follows tenuous oral intercourse self-confidence and decision making ability ingratiatory nature Professional start Numeric ability Logical reason In-depth market knowledge and attention to detail knowledge of current socio, political, and scotch trends well behaved judgment of risks honesty and a trustworthy locationIn addition to the above mentioned competencies an individual aspiring to be a stock broker needs to keep his cool and have the ability to run away under pressure. The drive and urge to succeed and excel in their ferment is a primary requisite to achieve career objectives as a stock broker. (www.Learndirect-advice.co.uk)Personal StrengthsA review of my personal strengths and abilities reveal communication as one of the strongest points that can work to my advantage in career counseling. Petit, Goris and Vaught (1997) noted communications function is essential for cases like allowing employees to air meetings, make memos, provide feedback and share corporate-wide information. I believed that the previous exposures and experiences that I gained has greatly assisted me in acquiring this core competency. Good communication skill was gained from giving presentations at seminars, supplier and customer service transactions (e.g. publication clear and concise instructions, advising and assisting customers, etc).I am also used at working on group projects particularly during my course. As a member of the g roup projects I have proved my abilities as a good and empathetic listener that has enabled me to judge the situation and present legal solutions to the issues in hand. My team leader noticed my natural experience of persuading others in the team to coordinate and cooperate better and agree to the objectives and milestones that were vital for the success of the project. This particular observation was quite a helpful since I was given the team coordinator responsibilities in the subsequent projects. My involvement in the capacity of a team coordinator greatly improved my skills of communication and persuasion.Considering the significant role of communication in stock broking, coordinating is among the basic ingredients of my professional success. I also believed to the spill all over effects of effective coordinating function like the development of teamwork and successful working relationship. Teamwork is also attributed to the positive effects upon the psychological health and welfare of organisations member (Carter and West 1999). Through effective communication, people are motivate to work in unity and towards the achievement of individual and organisational goals alike.Personal helplessnessIn my previous job I had landed into an argument with my team member while discussing the feasible alternative that can be select to complete the task objectives nullifying the associated risks. The heated argument was not seen in a party favourable light by my managers. Indulging in the process of self introspection I realized that I tend to be quite dictating and adopt a more commanding tone while communicating with other people. Though I can persuade and coax people into agreeing to my views and observations the commanding tone that I use to communicate the message is not liked by most people.This is not a favorable attitude and causes problems in development of harmonious relationships with fellow colleagues. This weakness is more a form of autocratic lead that has become outdated and irrelevant in todays business world. People and institutions do not favor this style of leadership anymore and this can pose serious limitations to career growth and development prospects. The current management style prefers a softer approach to people in order to develop a productive and effective team. As stated by a few authors (e.g. Cohen and Brand 1993 Hyde 1992), management requires leaders full participation and involvement instead of designating individual groups who will shoulder all the responsibilities.Furthermore, this also helps in creating a sense of commitment and loyalty (Hill 1991). In the business point of view, good leadership proves to be quite beneficial as aids in efficaciously meeting job-related demands, creating higher-performing teams, fostering renewed loyalty and commitment, increasing motivational level, and trim down absenteeism and turnover of employees (Drucker 1995). I presumed that I am the opposite of a favoured lead er. I am autocratic which means I tend to be also manipulative and domineering. This attitude hinders the development of harmonious relationship or esprit de army corps among colleagues and most importantly on the part of potential clients. I accepted the need to learn a leadership style that will be instrumental on the achievement of my intended career role as well as the development of other important values useful in my future as stock broker and person as whole.