...FUTURE Looking Towards the Future In this essay I will be discussing my personal, professional, and academic goals for my major field of study in my online environment. I will also discuss how I will apply the SMART goal process to each of my goals. I will create an accountability plan for meeting my goals and discuss how will overcome any obstacles. Lastly, I will predict my success in achieving my goals, my individual personality, and my major field of study. My SMART Goals At the age of thirty-four and two kids later I am looking over my future to see what I need and/or want to be doing with my life in the next six years. My personal goal is to be financially stable, although my kids will be in college themselves. I want to be able to help them with tuition, housing, food, and any other things they may need. I am going to complete my four years of college to obtain my accounting degree so that I can complete my personal goal. I have tried online schooling once before and I stopped going because I got a little discouraged. I think I was being a little selfish. I not only have myself to think about but two other people that I am responsible for. I try to lead by example when it comes to my kids. Completing my personal goal is one way that I can teach them. My professional goal is to have my own accounting/finance business within the next six years. In order to complete my professional goal I have to complete my four years of college. I take one class online at Ashford...
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...College Material Appendix B Goal Setting Defining Goals Simply stated, goals are outcomes or results that an individual wants to achieve in a stated period of time. Goals require prioritized steps for successful achievement and must align with an individual’s priorities. Misaligned goals often lead to unfulfilled outcomes. Putting goals into writing and reviewing them daily allows the goal-setter to more effectively visualize the accomplishment of the goal. Goals may be set in various areas of life, such as career, personal development, family, friends, finances, health and wellness, leisure time, physical environment, and spirituality. Goals may also span a variety of time periods. Some may be long-term of 3 to 5 or more years. Others are midterm for 1 to 3 years. Still others are more immediate and short-term for 1 to 12 months. Benefits of Goal Setting Creating goals provides structure and purpose for personal, academic, and professional activities. Individuals that follow effective goal-setting strategies report that they experience less stress and anxiety, concentrate better, perform better, and are more satisfied in their work and personal lives. SMART Goals For goals to be effective, they need to include action words that explicitly describe the desired outcome. Effective goals also include SMART elements. The SMART elements of a goal are: • Specific—Specify, in detail, exactly what is to be accomplished. Goals that are vague do not provide...
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...In discussing and evaluating Alice’s goals, I will use the SMART planning model in the form of answering and evaluating her goals to see how achievable the goals are. a) Pay off student loan Specific: Alice has to pay off her student loan of $ 53,000. She is paying $7,720 annually. Measurable: At the end of the year she has to make a total payment of $7,720. Achievable: It is possible for her to make this payment since she does this from her income. Results: She has to pay back this loan in order that she will have sufficient disposable income that can be saved to acquire assets Time: Paying $7,720 annually will mean she will complete the student loan in a little after 6 years. b) Buy a house and save for children’s education Specific: Alice needs to buy a house and save for her children’s education Measurable: Presently she saves $400 annually. Saving this amount annually cannot enable her to buy a house and save money for her children’s education. It will be difficult to accomplish this goal. She will have to have more income to accomplish this goal. Achievable: It will be possible for her to buy a house and save for the education of her children if she increases her income. Alice is already paying her student loan, and when she finishes payment, she will have more income to save for education and buy a house. Saving enough money for her children’s education will what Alice has to look into seriously as she will need more income to do that. Results:...
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...McBride Financial Services is working hard to keep its competitive edge in the finance industry. Recently the company has decided to create an App for smart phones that will make applying for a loan easier and more convenient. The marketing research team, for the company is going to conduct the research needed to see if the need exists in the finance market. The research team will decide if creating the APP will benefit the company and be worth the financing that will be needed to get the return on investment. This APP will allow any customer interest in applying for a mortgage to enjoy a secure site from a mobile device. McBride Financial Services (MFS) goal is to be the preeminent provider of low cost mortgages using state of the art technology. Currently McBride’s Financial Services has an online mortgage application, and it is not complex. The turnaround time for an application is within one business day. MFS’s target markets are families, professionals, and retirees. Two of these potential customers has something in common, limited time. There is a skill to balancing the full schedule of a family, and finding the time for personal business as well as professional. Already in place is MFS’s online user friendly mortgage application however developing a secure user friendly Smart phone application will benefit those families or professionals that have limited time. Developing a smart phone application keeps McBride’s Financial Services at the fingertips of the...
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...Personal Finance: Turning Money into Wealth, 6e (Keown) Chapter 1 The Financial Planning Process 1.1 Facing Financial Challenges 1) Once a sound financial plan is in place, there should be no need to ever change it. Answer: FALSE Diff: 1 Topic: The Financial Planning Process AACSB: 3. Analytical skills 2) When comparing two different investment opportunities the investor should always choose the investment that minimizes the total amount of taxes paid. Answer: FALSE Diff: 2 Topic: Minimization of Taxes AACSB: 3. Analytical skills 3) Being financially secure involves balancing what you earn with A) your investments. B) what you spend. C) your retirement plans. D) your current level of debt. Answer: B Diff: 1 Topic: Financial Planning AACSB: 3. Analytical skills 4) In order for your financial plan to be realistic and attainable it needs to be based upon your A) budget. B) income level. C) number of tax deductions, exemption, exclusions, and credits. D) balance sheet. E) none of the above Answer: B Diff: 2 Topic: Financial Planning AACSB: 3. Analytical skills 5) Personal financial planning can help you to A) deal with unplanned health issues. B) minimize your tax payments to Uncle Sam. C) minimize your chances of personal bankruptcy. D) have enough money for a comfortable retirement. E) all of the above. Answer: E Diff: 2 Topic: Financial Planning AACSB: 3. Analytical skills 6) What are common factors found...
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...------------------------------------------------- SUBJECT: Smart Couples Finish Rich Analysis Mr. I would like to follow up with your inquiry made during last week’s meeting regarding David Bach’s Smart Couples Finish Rich. I have since completed reading the book and will present and discuss several of the author’s major insights which I believe will be most beneficial to you. Bach presents the content of his book in a 9 step process which results in a financially successful future for couples. The book is part personal finance and part relationship counselor. It discusses how money can often be the root of many arguments for couples and how to avoid this problem by working towards a financially secure future together. I will discuss the following the three most important points in Bach’s book and why they can be so valuable to implement into your life: * Be open with your partner with regards to finances and work towards goals together * Small frivolous spending is what keeps many from becoming rich * Start early in building your retirement fund An early step in Bach’s process is “Plan Together… Win Together” long term planning with your spouse and developing a system which you can assess your goals. This entails keeping track of financials and establishing a common ground between the couple. This is very important so you can establish a benchmark system so both spouses can work together in accomplishing their set goals. One of the easiest ways which you can prevent...
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...Personal Responsibility Everyday individuals live with everlasting responsibilities. Responsibilities are part of everyday life routine. It can be looked at as a way of life. So it would safe to say a way life is having responsibilities that consist of, but not limited to, personal goals, educational success, and financial stability. Personal goals, educational success, and financial stability will be discussed as the main points of personal responsibilities. As everyone is entitled to their own opinion, responsibilities is defined as being able to act independently and make decisions without having someone authorizing it in particular. Personal responsibility refers to responsibility in a sense that one is personally responsible for achieving long-term and short-term goals, educational success, and financial stability. In this instance, long-term goals are considered a responsibility. It would have to be achieved by the person aiming for that long-term goal. A long-term goal may roughly take anywhere from five to ten years, maybe even up to twenty or thirty. If someone long-term goal is intended to be reached between five, ten, twenty or thirty years, it simply becomes a responsibility to make sure that the specific long-term goal is met. A master’s degree can be looked as a long-term goal. In order to achieve that goal, the person responsible must ensure that degree plan is created and carry out the task outlined in that degree plan. In that degree plan may layout some...
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...Two Business on our doorstep – Continued P3 and P4 I will carry on looking at the 2 businesses; Asda and RSPCA. I will be describing the business organisation, an explanation of the style of the organisation within the business and how it helps them to fulfil their purpose. An organisational structure enables a business to meet their purposes, it divides up the work and establishes lines of control and community. Dividing up work allows a clear understanding of who is doing what. The organisational structure is often a chain of command or line of control and sets out important aspects of how communication takes place. The organisational structure controls organisational activities to avoid conflict and individuals making decisions. The structure depends on the organisations objectives, purpose and strategy. The top layer of the structure usually has the most power and control of the businesses decisions.[1] There are several different organisational structures, these include flat, hierarchical and matrix. They all are in place to make sure that the business is set out in a clear way and is easier to see who is above who. The difference between hierarchical and flat structure is that there may only be two or three levels in a flat structure because they are designed for small businesses like a local hairdressers. [2]The matrix structure is where the employees have dual reporting relationships, generally to both a functional manager and a product manager. It is not set out...
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...Carlton Refour 1/11/15 Professor Keyes Personal Finance Discussion Case 1 Page 30 1. If I were serving as the couple’s financial advisor, I would first tell them to think and determine their financial health; Secondly I would tell them to establish their financial goals and know how much they need to save; Third I would advise the couple to map out and brainstorm a plan of action of keeping a budget. Next, I would tell them to install and execute their plan. The last thing for me to tell them would be for them to proofread and make sure their plan is ready to go. These steps are very important because they teach the basic guidelines in setting financial goals which will help Jimmy and Bethany calculate how much money they have and how much they will need to save for future items that intend to purchase. 2. The finance goals that I would determine to be the most important to Jimmy and Bethany are to purchase a house, set up a college fund for their children and start their own business. The least important are to finance a major vacation and to finance a vacation home. It would not be smart to invest in a vacation overseas or a vacation spot especially when you are trying to have children and purchase a home. They will be able to do that further down in life when their money will provide them to do so. 3. The four common concerns that should guide the development of their financial plan are manage the unplanned, accumulate wealth for special expenses...
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...Your personal finance goals should be catered to your circumstances. It's likely that you're ready to start a family or working towards the goal of having a home. The things you want in your future depend on sticking with your financial goals. 1. Emergency Fund While it's painful to consider, you could lose your job at any moment. Nobody ever plans on losing their job, but you can save money to cushion yourself in case of this kind of traumatic event. It can take up to 6 months to find a new job and get settled into the new position. so your emergency fund should cover 6 months of your current salary. 2. Start Thinking Retirement As you're considering that emergency fund, it's time to start thinking about your retirement. Whether you're...
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...Business Activities is any actions undertaken by individuals or companies, such as buying, selling, marketing, or any activity that is engaged in for the primary purpose of making a profit. Business activities can include things like operations, marketing, production and administration. Also known as business operations, Managing Business Activities is, The Business Activities effectively managing by the related parties to achieve the organizational goals and objectives. This module will be cover all over the part of Managing Business Activities with suitable examples. LO1 1.1 Organizational Process Organizing, like planning, must be a carefully worked out and applied process. This process involves determining what work is needed to accomplish the goal, assigning those tasks to individuals, and arranging those individuals in a decision‐making framework (organizational structure). The end result of the organizing process is an organization - a whole consisting of unified parts acting in harmony to execute tasks to achieve goals, both effectively and efficiently. A properly implemented organizing process should result in a work environment where all team members are aware of their responsibilities. If the organizing process is not conducted well, the results may yield confusion, frustration, loss of efficiency, and limited effectiveness. In general, the organizational process consists of five steps (a flowchart of these steps is shown in recruitment method). Reference:...
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...management committee consisted of seven members. Teamwork as a service based organization the employees or human resources are the focal point. Top management motivates them over the time. The internal management develops an effective strategy to see what’s going on the firm. So implement a quarterly survey system in order to get all types of information including employee attitudes toward work ,customer attitudes toward the business ,clients account and revenue status. They also put a suggestion box in front of the reception to welcome suggestions from their employee, clients, visitors, and well-wisher. But in mid July, 2002 Ishrat Parvin Rita the managing director of teamwork find some major problem in survey result. The survey shows the goal of the organization was not set clear enough to mid and...
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...safe to assume that it is something most people strive to achieve. For most people, success does not come easy. It is earned by hard work, perseverance, and the belief that nothing is impossible. To become successful requires one to take risks, to step out of their comfort zone. As the adage says, “If you always do what you have always done, you will always get what you have always gotten.” Travelers usually begin trips by first choosing a destination. It allows them to prepare beforehand, so they know what to do upon arriving. Setting goals helps us figure out where we are going and helps us realize when we have “arrived.” Goal setting seems to be the first stop to success. Once worthwhile goals have been figured out, one can take control and shape their careers and futures to facilitate personal enhancement. Goals help set up an action plan and breaks up improbable challenges into manageable steps. My short-term professional goal is to pass the Certified Emergency Nurse (CEN) examination by the end of this year. A study conducted by the American Board of Nursing Specialties on the perceived value of nursing certifications showed that the attainment of such increases empowerment and feelings of confidence, marketability, and professional credibility (Grief, 2007). Patients view it as proof of excellence; that a nurse is competent, knowledgeable and has a certain amount of expertise. This proof of excellence leads to in increased sense of comfort and trust in the patient...
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...plan for personal professional development My Career Plan Career Goal: To become a financial manager. To design, plan, control and supervise the financing of construction of buildings, highways, and rapid transit systems. Requirements: • Bachelor's degree in Accounting. • Ability to work as part of a team. • Creativity. • Analytical mind. • Capacity for detail. • Presentation skills. • Writing skills. • Knowledge of physical social sciences and mathematics. • Accreditation by Licensing Board. Current Skills and Interests: • Summer worker for Smith Construction Co. • High School mathematics courses • High School social science courses • Experience working as a team • Attended high school writing courses • Gave presentations in high school courses Plan To Reach Career Goal: • Bachelor's Degree - attend the University of Manchester School of Banking and Finance and a Level-4 Certificate on Management and Leadership at Kings College of Management. • Job Experience - Continue working for Smith Construction Co.; Seek internships through University career placement office • Networking - Join campus organizations for engineering students Introduction: Personal development planning is the process of creating an action plan based on awareness, values, reflection, goal-setting and planning for personal development within the context of a career, education, relationship or for self-improvement. Personal Development Plan (PDP) begins by aiming at a goal and setting...
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...Abstract— Cities need to become smarter by becoming more sustainable, more efficient and more livable. Information technology is helpful in making the city smarter. Smart cities are based on eight pillars comprises of buildings, energy, water, recycling, healthcare, mobility, services and finance. This paper focuses mainly on energy, environment and infrastructure which include all the eight pillars. The key drivers in smart city in terms of energies are maintaining grids reliability and stability, improving energy efficiency across the value chain, integrating intermittent CO2 free energy and intelligent energy storage. Smart infrastructure in smart cities are sensor networks, digital management of water and waste management, resources awareness,...
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