...Personal Financial Planning “Personal financial planning is only applicable to those nearing retirement”. How true is this statement? For instance, personal financial planning is only suitable for those who are nearing retirement and not for other age groups of people. We do not really agree with that statement. Because people in different lifecycle are indeed requiring different kind of needs and wants in their life, thus, financial planning is important for everyone who wishes to achieve their financial goals. In addition, when there are existence of needs and wants in our life, everything would cost us money because money is the medium of exchange in this era. Due to this matter, meeting the rising cost of living and improving the standard of living would be a problem when we do not plan our financial side carefully. Everyone wants to have a luxury life, good car, delicious meal and many mores but without a proper planning, it is impossible for anyone to achieve these goals. Therefore, a personal financial planning is vital especially for those who started to join the work force and also those who are retiring. What is personal financial planning mean to you? Personal financial planning can be defined as a systematic process that considers important elements of an individual's financial affairs in order to fulfill the financial goals. Basically it also includes the well preparation of the cash flow movements, priority allocations on the needs and wants, and many more. ...
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...Personal Experience with Strategic Planning Denise M. Chaney Creighton University Strategic Planning and Management ILD 803 Dr. Fink May 4, 2013 Personal Experience with Strategic Planning Strategic planning is the essence of the work of an organization. According to Bryson (2011), strategic planning identifies where the organization wants to be at some point in the future; without a strategic framework senior management will not know where they are going. Thompson, Peteraf, Gamble, & Strickland III, (2012), state “crafting and executing strategy” should be a top priority for those holding senior management positions. It seems that such a powerful entity such as strategic planning, should be well known throughout the organization. However, the opposite seems to be true. I’ve been in the field of nursing for more than 38 years and had never heard the term “strategic planning”. Is there a lack of knowledge pertaining to strategic planning? If so, whose fault is it, the organization or mine? According to Wells (1998), the best way to “reduce someone else’s capacity or humanity, severely restrict or take away their right to think” (kindle Fire, Location 142). Therefore, restricting access to “strategic planning”, employee rights have been taken away. Wells (1998), also points out “that the only limit” to an organization’s possibilities is “the mind of it’s people and what they are able to conceive (Kindle Fire, Location 46). In part, this reasoning could account for my lack...
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...University of Phoenix Material Personal Financial Planning Worksheet Directions Based on your readings and discussions in class this week, answer the following multiple choice questions. 1. The process of creating a detailed plan to meet your financial needs and prepare for the future is called personal financial planning 2. Which of the following is not one of the five major steps of the financial planning process? Collect and organize your financial information. 3. Which phase in life is commonly associated with focus on marriage, family, purchasing a home, and career development? Late 20s through your 40s 4. Which of the following is a benefit of having a college degree that can affect your financial planning? All of the above 5. Which of the following elements of a comprehensive financial plan involves analyzing future needs, such as saving for retirement or college funding for dependents? Securing basic needs Directions Respond to the following short-answer questions in 50-to 100-words: 6. People have different styles when it comes to handling their money. List the two things that affect your personal beliefs and opinions about financial planning. How well do you feel you manage your money? Can you spot areas for improvement in your money management style, and if so, where/how? Values (fundamental beliefs about what is important in life) and attitudes (opinions and psychological differences between people that affect their...
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...I have been dealing and working with personal planning all my life, as a child and even as a teenager I was making dreams and setting goals for life. On occasion these goals are far stretched and sometimes even fairy-tale like, we tend to see life through a rose-colored glass, not taking into account the many sidetracks life throws our way. I feel that at that stage in life our goals tend to be less focused and somewhat unreachable. However, the process of growing up, or maturing, tends organized and center our goals, we learn to make compromises and set goals for our goals. There are different types of goals, short term and long term. I have learned to separate the many goals I have into three main categories: family, professional and personal. First, my family goals include how I see myself and how I see my family and the paths that life takes us. Being a mother and a wife to me has been the most important goal which I have set in the past, and now that the wonderful role of motherhood has taken me in full speed I have learned to adjust my goals and plans. The most important aspect of being a mother, and the long term that I have set for myself, is to be able to raise happy and healthy children that are able to face the world in a positive manner. In order to achieve my long term goals and plans for my family is that I have set a few short term goals that I believe will help in the process. One of my short term goal as a mother is to be able to be a constant parent for my...
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...PERSONAL DEVELOPMENT PLANNING REPORT BUSN07020 ACADEMIC SKILLS FOR BUSINESS DIANNE LYLE - B00259359 BRENDA HUGHES WORD COUNT: 2170 30 NOVEMBER 2013 TABLE OF CONTENT 1. Introduction ……………………………………………………………………………………………………………. 3 2. Personal Development Planning ………………………………………………………………………………… 4 3. SWOT Analysis ………………………………………………………………………………………………………… 5 4. The Benefits of Personal Development Planning …………………………………………………………. 6 4.1 Benefits of PDP to Academic Performance ……………………………………………………….. 6 4.2 Benefits of PDP to Professional Life …………………………………………………………………. 6 4.3 Benefits of PDP to Personal Life ………………………………………………………………………. 6 5. Personal SMART Goals ……………………………………………………………………………………………… 7 6. Developing Learning, Academic & Business Skills ………………………………………………………… 8 6.1 Learning Styles ………………………………………………………………..……………………………. 8 6.2 Active Learning ……………………………..………………………………………………………………. 8 6.3 Effective Business Skills ……………………………..…………………………………………………… 9 7. Conclusion ………………………………….………………………….…………………………………………….. 10 References ………………………………….…………………………………………………………………………………. 11 Appendix ………………………………………………………………………………………………………………………… 12 1. INTRODUCTION This report on Personal Development Planning (PDP) is being written to outline how important PDP is in both an academic and professional environment and also how it affects University students during their time at University and also as they progress into their future careers. Within the...
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...The Cop and the Anthem By O. Henry The link of the short story “The Cop and the Anthem” http://americanenglish.state.gov/resources/gift-magi-and-other-stories#child-436 Soapy is a man who is homeless. In the winter Soapy tries to survive in cold weather, he decides to get into prison in order to get free food and shelter. Three months of foods everyday and a bed every night, three months save from the cold north wind and save from cops. He tries many things to get attention from the cop. One of those things is that he goes to a restaurant. But when he steps to restaurant’s door the head waiter gives him a sign to get out with his hand. And then Soapy turn off Broadway. There is a shop with a glass white window and Soapy picks up the big stones and throw it through the glass, people come running. A cop is the first among them. Soapy stands still and smiles when he sees the cop. But the cop’s mind would not consider Soapy. Men who break windows don’t stop there to talk to cops. Soapy goes to another restaurant. He sits at the table and has dinner. When he has finished, he says he doesn’t have money and tells the waiter to call a cop. But there is no cop. The waiter throws Soapy upon his left ear on the hard street outside. He tries to annoy woman in front of a cop, pretend to be drunk, but always fail, at last he tries to steal a man’s umbrella. It turns out that the man doesn’t own the umbrella, he found it this morning in a restaurant. When he is going...
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...Personal Development Planning For Postgraduate Research Students Postgraduate Personal Development Planning 1 INTRODUCTION Personal Development Planning (PDP) is a process already present in most PhD supervision and study practices. PDP is ‘a structured and supported process undertaken by an individual to reflect upon their own learning, performance and/or achievement and to plan for their personal, educational and career development’ (QAA 2001). This handbook provides guidelines for Postgraduate Research students at Queen’s on what PDP involves and to help you to get the most out of the process. Please note that there may be slight variations or specific requirements for you in your School or subject area. Key features of PDP: • PDP is an ongoing process, not a single document, nor is it carried out at a single point in time. • It provides you with the opportunity to plan, reflect on and record your progress, development and achievements. • PDP formalises good practice in working for and supervising a research degree. • PDP is a structured and supported process. The structure and support is provided by: - The Skills Analysis Questionnaire - The Postgraduate Skills Training Programme (PSTP) - Records of meetings with your supervisor(s) - Training plans - Formal reviews – 3 month, differentiation, and annual monitoring - Records and evidence of your achievement - Your evaluation and reflection of your progress, achievements and skills - Your research diary or log...
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...Shanto-Mariam University of Creative Technology Department of Business Administration Principles of Management Short Questions 01-Question: Distinction between delegation and decentralization. Answer: Delegation: Delegation is the assignment of authority and responsibility to another person (normally from a manager to a subordinate) to carry out specific activities. Decentralization: Decentralization means dispersal of authority throughout the organization. It refers to the systematic effort to delegate to the lowest levels all authority except that which can only be exercised. Distinctions between delegation and decentralization are as follows: Delegation Decentralization 1. It is process or an act. 1. It is the end result of delegation. 2. It denotes relationship between a 2. It denotes relationship between the top superior and a subordinate. management and various departments or divisions . 3. It is essential for management process. 3. It is optional as top management may or may not disperse authority. 4. The delegator exercises control over the 4. The control may be delegated to department subordinate. heads. 5. It is technique of management. 5. It is a philosophy of management. 02-Question: Discuss about Management vs Administration. Answer: There has been a controversy on the use of the two terms-management and administration. Different authorities have expressed conflicting opinions on the subject. Many experts make no distinction between ...
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...one employee (Cowan, 1992). Due to attrition and employee failure, a company must recruit at least 30 percent of the total number of existing employees every year to achieve an overall growth of 10 percent (Cowan, 1992). To use this formula as a basis for goal-setting, it is important to analyze the previous years' goals and results. If the goals were met or if they failed to achieve the objectives, it is crucial to examine the factors that came into play, whether they were economic trends or internal issues. This information should provide a solid plan to identify the most successful methods to seek high-quality employees. A successful recruitment planning policy will assist an organization in meeting corporate objectives by developing strategies designed to recruit people with the right skills and experience. Recruitment planning should take into account the key principles of Equal Opportunities policies as well as ensuring merit, equity, efficiency and effectiveness. Recruitment...
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... the decision making process within each step of the function is crucial to the reliability of the success of each function. The planning process function of management is also crucial. Of course plans do not always go as intended so we learned that we need to have an alternative plan in case the original plan fails. We learned how the unethical behavior of one person or group of people can negatively affect a whole organization. What could be applicable to your workplace or personal life: When it comes to the workplace there are internal and external factors that would affect the four functions of management no matter what company you are working for. Being able to have the knowledge of how to use the four functions of management along with being able to pick out some of the internal and external factors that could affect the functions is an asset to any company. Also being able to be prepared for change and having something ready, or a plan B, and having the prior knowledge of how to implement that plan to replace the current one is also something that any company would benefit from. In our personal lives we are surrounded by factors both internally and externally that could alter our plans. For those of us with kids those factors are increased and usually happen more frequently. Being able to have the planning knowledge in our personal life is a benefit that affects not only us as individuals but our entire family. It would reduce the stress factor by having a plan...
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...week two the team reviewed planning as a management function. We learned about the various factors that influence strategic, tactical, operational, and contingency planning. Finally, the team learned about the effects that legal issues, ethics, and corporate social responsibility have on management planning. As a team we learned about the basic steps involved in the planning function of management. Planning improves innovation, speed, quality, and costs. Those are qualities that make a business successful. We learned that the planning phases are not only used by large organizations but also that planning has become a widespread management function. In order for smaller organizations to be competitive if not aggressive, planning is needed. In week two, we learned about the six basic steps used in the planning process: situational analysis, alternative goals and plans, goal and plan evaluation, goal and plan selection, implementation, and monitor and control. As a team, we found that many of us worked in businesses that have succeeded due in part to the planning phase of business. As these businesses continue to be competitive, changes need to be done using a plan. We understand that planning is applicable to our personal lives as well. Planning daily tasks, events, and agendas are done by all of us and future planning may be done more thoroughly because we have more in depth knowledge of how the basic steps work. Strategic planning is the process of making long...
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...Unit 9: Outdoors & Adventurous Expeditions Workbook |Name | | |Group | | This completed workbook is to be submitted for assessment on the following date: ORIGINALITY STATEMENT: The contents of this workbook have been produced by me individually or with team members & is a true reflection of the activities undertaken as part of this unit. Name: Signed: INTRODUCTION Outdoor and adventurous expeditions are used by most of the Uniformed Public Services; particularly the Armed Forces, to develop the skills and values essential for effective teamwork. They provide opportunities for individuals and organisations to understand how they perform in difficult and arduous conditions. This workbook serves as a record of activities, development of skills, reflection, future plans and also includes witness statements to be completed by tutors or lecturers. Careful completion of this workbook in relation to the activities carried out will provide evidence to support the learning outcomes for the module. It should be completed with your own work and you may include photos and diagrams as you feel appropriate. You should complete the workbook electronically and will need to ask staff and tutors to complete witness statements...
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...QUESTION 3 As a human resource manager, how might you go about convincing top management that you should be heavily involved in the company's strategic planning process? Stress the potential for bottom-line improvement brought about with the help of HRM in the various areas. Answer 3) The role of a human resource manager is to help the top management to recruit, select, train and develop members for a company. Obviously, human resource planning is concerned with the people’s dimensions in organizations. HRP refers to set of programs, functions, and activities designed and carried out. Therefore, HRP should be heavily involved in the company’s strategic planning process. HRP is the process of forecasting an organization’s future demand for and supply of the right type of people in the right numbers. Only after the planning is done, the company can initiate and plan the recruitment and selection process. The importance of human resource planning a. Analyzing organizational plans and deciding objectives: Analysis of organizational plans and programs helps in forecasting the demand for human resources as it provides the quantum of future work activity. The business plan would be a blueprint of desired objectives. This objective stated in economic terms, would incorporate the growth rate of the company, diversification plans, market opportunities and government policies. b. Analyzing factors for manpower requirements: The HRM should keep in view the future capabilities...
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...every minuites nurse need to find ways to stretch the time available to meet the needs that arise(Hurber,20006)Many nurses complain about needing more time. They are stressed and frustrated . At any point in time nurse guggle work and other roles such as student, partner, parent, child,or friend.As work places are restructures for efficiency and employ fewer people, personnel work role stress arises ,effective time management is needed.(Hurber,2006). Time management is defined as accomplishment of specified activities during the time available. The goals of time management is the efficient use of time resources in order to be effective in achieving goals . Principles of planning and...
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...1. Strategy and Planning: their product, their business strategy, their planning process, their competitive advantage, do they fit together? Zara is a Spanish clothing and accessories retailer. Zara belongs to Inditex’s apparel retailer; the fashion group simultaneously owns brands, such as Massimo Dutti, Pull&Bear, Stradivarious, Bershka and Uterque, which operated 507 stores in many countries in 2001. Product Zara stores have men's clothing and women's clothing, as well as children's clothing (Zara Kids). Designers of the brand work on two basic collections each year that are phased in through the fall/winter and spring/summer seasons. Zara offers fashionable clothes at very competitive prices and reasonable quality. Customers choose products of Zara because they pay less for good, stylish products with good quality. Business strategy As I understood, managers of the company focus on cost leadership strategy. Zara is a vertically integrated retailer and controls most of the steps on the supply-chain, designing, manufacturing, and distributing its products. It has succeeded on account of minimizing its variable and fixed costs, its ability to capture the latest catwalk trends and quick reaction to changes in market demand. According to the case Zara made investment in manufacturing logistics and IT, including a just-in-time (JIT) system. Every two weeks Zara provides its stores with new products. The company follows zero advertising strategy. Mostly Zara invests...
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