Analyse the UK Labour Market to Identify Core Skills Currently in Demand

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Designing and Developing a Professional Development Plan I

 

SKU: Repo3028192

Write a short Journal Entry :

  • The key things you learned during the preceding two weeks
  • How they may relate to the workplace
  • How they may aid your personal and professional development
  • Remember to be specific and give examples to support your observations

 

Key Learnings

After understanding the financial accountancy, management accountancy should be introduced. While financial statements provide useful results to the external parties of a company, Management accountancy helps to generate various data and reports for the management of the company for smooth and effective working of the same. In fact, it aids the smooth running of an organisation. Various tools like cost-benefit analysis; break-even analysis, cost accountancy etc. are analysed and interpreted. Various costs associated with production like fixed/variable which needs to be analysed and also kerbed if necessary. For this a complete idea regarding each cost is necessary. Formulation of budget helps to streamline operations in an efficient manner. By formulating budgets, the company can find out the variances in various aspects as and when needed. This also helps to find the area of lacuna and fields which require more concentration.

 

 Application to workplace

These units enlightened me regarding various tools which may be beneficial to my company now and in future. Being a part of the management in my company, it will be really helpful if we can formulate a concrete budget regarding various aspects of my company. This will also help the management to find the variances and work towards betterment. My company is a tea manufacturing company; therefore, there are times when costs badly need to be curtailed. This Is the time when the knowledge of fixed/variable costs helps tremendously in attaining the goals of the concern.

 

Personal Development

I was never aware that something called management accounting also exists and which facilitates us in analysing, implementing policies and procedures towards the betterment of the company as a whole.  I learnt about the fixed and variable costs, which is very necessary in the time of crisis and some costs needs to be curtailed.

 

Unit 1: Employability in Context

The UK labour market, particularly for graduates, is suffering from the on-going recessionary pressure within the economy. Employers are facing tough decisions about staffing levels and are reluctant to recruit in these tough times.

However, it is not all doom and gloom! Even in the current tough economic climate you can be successful in achieving your career goals – it just needs some careful planning. To begin that process we undertake a detailed analysis of the UK labour market so that we are armed with the facts!

In this unit we shall:

  • Identify the core skills currently in demand in the UK labour market

On completion of this unit you will be able to:

  • Analyse the UK labour market to identify core skills currently in demand

 

Unit 2: Designing and Developing a Professional Development Plan I

In this unit we are going to begin to consider the design of your Professional Development Plan (PDP) and then, in the following unit, we are going to put our learning into action.  You will be expected to create a template for your Professional Development Plan but first things first!

In this unit we shall:

  • Provide students with the opportunity to conduct a self-assessment of their core skills and employability

On completion of this unit you will be able to:

  • Plan to develop your core skills in response to labour market demands

 

Unit 3: Assessing your own Employability

We’ve spent some considerable time analysing the UK labour market, considering the core skills that make graduates more employable and now it is the time to see how you measure up!  In this unit we will consider a range of self-assessment activities that you can undertake to identify your areas for improvement as well as celebrating your strengths!

In this unit we shall:

  • Provide students with the opportunity to conduct a self-assessment of their core skills and employability

On completion of this unit you will be able to:

  • Evaluate your current core skills level

 

Unit 4: Numerical Confidence

Numeracy or mathematics is often an area in which many people lack confidence. However, the ability to work with numbers in the workplace is another important employability skill.

If you know this is an area with which you need help then the time is NOW to address that. We use this unit to refresh and enhance some of those important numerical skills to make you work place ready!

In this unit we shall:

  • Engage students in the development of a range of core skills to support their learning and assessment in other modules as well as their long term employability, specifically numerical skills.

On completion of this unit you will be able to:

  • Provide evidence to demonstrate how your core skills have improved over the course of the module

 

Unit 5: Effective Self Management

Self-management skills are those skills that allow an employee or worker to be more productive when undertaking daily routine tasks regardless of the working environment. You can therefore see why employers see it as so valuable in terms of employability.

In this unit we consider how best to develop those valuable self-management skills.

In this unit we shall:

  • Engage students in the development of a range of core skills to support their learning and assessment in other modules as well as their long-term employability, specifically self-management

On completion of this unit you will be able to:

  • Provide evidence to demonstrate how your core skills have improved over the course of the module

 

Unit 6: Drafting your Professional Development Plan

In this unit we shall:

  • Engage students in the development of a range of core skills to support their learning and assessment in other modules as well as their long term employability

On completion of this unit you will be able to:

  • Plan to develop your core skills in response to labour market demands
  • Provide evidence to demonstrate how your core skills have improved over the course of the module

 

Unit 7: Applying Feedback to Professional Development Plan

In this unit we shall:

  • Engage students in the development of a range of core skills to support their learning and assessment in other modules as well as their long term employability

On completion of this unit you will be able to:

  • Plan to develop your core skills in response to labour market demands
  • Provide evidence to demonstrate how your core skills have improved over the course of the module

 

Final Journal Report

This week you will have the opportunity to reflect back on what you have learned during the module, and how you plan to apply this new-found knowledge, as you write your Journal Report.

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