Assessment 2 Career Planning Reflectiontotal Weighting Total 15 V ✓ Solved
Assessment 2: Career Planning Reflection. Total Weighting: Total: 15% Values Audit; Capability Audit; Graduate Elevator Pitch (upload to VUColl) Due Date: Week 9 Word Limit: 1000 words (Upload to VUColl ) _________________________________________________________________________________ Context You have spent a lot of time and money in completing a degree which will assist you in finding employment or moving to further study. Your undergraduate course has facilitated the development of hard (eg preparing financial reports) and soft (eg problem solving) skills. Completing a challenge project in a multi-disciplinary team may be evidence that you can execute those skills. You may also be involved in paid employment &/voluntary work.
In IBC2/PD2 you prepared an ePortfolio, CV and worked on a career plan. It is time to update this to reflect your personal and academic development during the last 12 months. The following 3 tasks will give you an opportunity to STOP and once again reflect on the values, skills and knowledge that you can promote when you apply for employment or post graduate study. Purpose of assessment: To demonstrate the student’s ability to use self-reflection to articulate the values, skills and knowledge that they have developed throughout their undergraduate degree. The student will submit a 1000 word ‘Career Planning Report’ that includes a Values Audit (100 words); Capability Audit (650 words); Graduate Pitch (250 words).
This is an INDIVIDUAL assessment piece. Task 1 – Values Audit (100 words) 1. List at least 5 of your personal values (eg friendship, loyalty, leadership, achievement, wealth, prestige etc). Rank the first five that are important to you. Explain why consideration of values is crucial to career management.
Use 2 academic references to support your answer. 2. What field of work/further study do you intend to pursue? List at least 5 hard skills you have developed via your undergraduate course and explain how they will assist you in your field of work/further study? Task 2 –Capability Audit (650 words) Read the 5 resources below 1.
Robles Marcel, 2012 , ‘Executive Perceptions of the Top 10 Soft Skills Needed in Today’s Workplace’, Business Communication Quarterly Vol 75, No 4, pages 453–. Karl, L 2004 ‘Articulating Skills in the Job Search’ Business Communication Quarterly Vol. 67 Issue 2, p. Australian Public Service, Fact Sheet 5 Addressing selection criteria, viewed November < > 4. 2013 Monash University, Sample Interview questions, viewed November < > 5.
Graduate Capabilities in your Unit Guide BPD3100 Applied Business Challenge 17 Using the readings and your own reflections provide a written response to the 5 most common selection criteria used by employers when choosing graduates. It is essential that you provide examples to support your responses. (650 words). The selection criterion is ï‚· demonstrated capacity to communicate effectively ï‚· good organisational and administrative skills ï‚· proven ability to work as part of a team ï‚· well-developed customer service skills ï‚· Proven ability to manage projects. Task 3-Graduate ‘Elevator Pitch’ (250 words) ‘An "Elevator Pitch" is a concise, carefully planned, and well-practiced marketing message about your professional self that your mother should be able to understand in the time it would take to ride up an elevator (2 minutes or less)’ (University of California n.d) Synthesise all the information collected from Task 1 & Task 2 to prepare your graduate Elevator Pitch to the question-“Tell me about yourself/What do you bring to this organisation?†Locate 2 academic references that will assist you to prepare your pitch.
In preparing your elevator pitch do not reference the content-simply use the references to help you prepare the composition. You may wish to video your pitch and add it to your ePortfolio/ CV URL References nd, University of California, Creating An Elevator Pitch - Two Minutes or Less, University of California, viewed November ,< 18 Assessment 2: Career Planning Report Values Audit & Capability Audit & Graduate Pitch HD+ (1) HD (.8) D (.7) C (.6) P (.5) N (.3) N Low (0) Values Audit Content 60% Identification and reflection on personal values that is important to career development. Identification of 5 hard skills developed via undergraduate course. Explanation of how these skills will assist students in their field of work/further study.
Capability Audit Comprehensive responses to 5 criterion Examples provided to support responses Graduate Pitch Comprehensive and succinct graduate pitch Use of information collected from values audit & Capability audit Explanations are clear and concise & Uses DIEP or other reflective writing technique DIEP 10% Accurately uses Harvard Referencing Ref 20% Use of 4 reliable, relevant academic references. Spelling and grammar are in accordance with academic standards plus within 10% of word limit Writing 10% FACE EDUCATION NUMHH INCOME LNFACE EDUCATION NUMHH ...................................................................................................................................................................................................................................................................................
Lab 2: Term Life Insurance Part I: R Application: Build a linear model for LNFACE vs Education, NUMHH and LNINCOME. Step1: Data preparation: Q1: Create a new variable LNFACE=LN(FACE) Q2: Use 10 bins of equal width to do the histogram plots for FACE and LNFACE. Paste them here↓ Q3: Describe the shape of your histogram plots. Step2: Linear Regression: Part II: Analytical Questions Q1: Write down the true unknown relationship between LNFACE vs Education, NUMHH and LNINCOME. Please label the meaning of each notation.
Q2: Please fill out the following ANOVA table by using formulas on ppt page 23. Use 2 decimal points. ANOVA df SS MS F Regression ? 328.45 ? ? Residual ?
630.43 ? Total ? OLS estimators for the slopes and the intercept are sample statistics. Use the computer output to answer the following questions. Use 3 decimal points.
Q3: Write down the estimated OLS regression line. For each estimator, please provide the corresponding standard error. Q4: If actual EDUCATION were 14.524 yrs, the NUMHH were 2.96 and the LNINCOME were .149, use the estimated regression line to answer the following questions: Q4.1: what should we expect the LNFACE to be? Q4.2: If actual sales turned out to be 7,000, then how far off are we? I.e., what is the Prediction Error/Residual?
Q4.3: What is the expected face value? Q5: Interpret the slope for Education. Q6: Interpret the slope for LNINCOME. Q7: What is the R2 of this model? Interpret R2.
Use 5% level of significance to make inference: Q8: What is the interval estimate of ? Interpret this interval estimate. Q9: Is the relationship between LNFACE and EDUCATION significant? Use the p-value to finish the four-step hypothesis test. Q10: Is the overall model reliable?
Use the p-value to finish the four-step hypothesis test. Part III Textbook Exercise: 3.1 Least Square Regression Equation 3.2 Hypothesis Testing 3.3 Variance Decomposition 1 Lecture 3: Multiple Regression Analysis 3.1 Least Square Regression Equation 2 Example 3.1 Term Life Insurance 3 Example 3.1 Term Life Insurance 4 ï‚— We ask: Example 3.1 Term Life Insurance Estimated Regression Line: 5 iiiiii eyxbxbxbby ï€ï€½ï€«ï€«ï€«ï€½ ,33,22,110 ˆ Fit OR Predicted Response Variable (Predicted LN (Face Value)) Slope (statistics) Explanatory Variables (Education; NUMHH; LN (INCOME) ) Residuals (statistics) Intercept (statistics) y(LNFACE) : log of Face Value of the Term Life Insurance x1(EDUCATION): Education in years x2(NUMHH): number of household members x3: (LNINCOME): log of annual income Sample size: n=275 Least Square Line 6 Interpretation I Estimated Regression line is: Slope 1: All else equal, for each 0.1 yr increase in education, the demand for the term life insurance is expected (predicted) to increase in log by ? dollars on average. increase in log by 0.1 dollars  increase by 10% So we should write: Slope 1: All else equal, for each 0.1 yr increase in education, the demand for the term life insurance is expected (predicted) to increase by 2.06% on average.
7 Interpretation II Estimated Regression line is: Slope 2: Slope 3: 8 Interpretation II Estimated Regression line is: Slope 2: All else equal, for each additional added member in the household, the demand for the term life insurance is expected (predicted) to increase by 30.6% on average. Slope 3: All else equal, for each ? dollar increase in log annual income, the demand for the term life insurance is expected (predicted) to increase by ? on average. 9 Interpretation III Estimated Regression line is: Slope 2: All else equal, for each additional added member in the household, the demand for the term life insurance is expected (predicted) to increase by 30.6% on average. Slope 3: All else equal, for each ? dollar increase in log annual income, the demand for the term life insurance is expected (predicted) to increase by ? on average.
We should write: Slope 3: All else equal, for each 1% increase in annual income, the demand for the term life insurance is expected (predicted) to increase by 0.494% on average. 10 Making a prediction with the model Estimated Regression line is: ï‚— If actual EDUCATION were 14.524 yrs, the NUMHH were 2.96 and the LNINCOME were .149 , what should we expect the LNFACE to be? ï‚— The expected face value is $exp(?)=$? 11 ？？？？ )($*494.0*306.0*206.0584.2ˆ LNy  Prediction Error Estimated Regression line is: If actual sales turned out to be 7,000, then how far off are we? I.e., what is the Prediction Error/Residual? Prediction Error/Residual: ઠ= y-model fit= actual LNFACE– predicted LNFACE =$LN(747,000) – ? = ($LN)? .2 Hypothesis Testing 13 What is an interval estimate of ï¢1? )|( Line Regression Unknown True xxxxyE ï¢ï¢ï¢ï¢  Confidence Interval= Given that sample size n=275, k=3, , we have ME= ?
CI= (0.206- ME, 0.206+ ME)= ? 1)1,2/(1 bkn setb ï€ï€ï‚± ï¡ 969.,2/%5(  ï€ï€ t%5ï€½ï¡ Is the relationship significant? 15 Step 1: H0: ï¢1 = 0 (demand does not change when education changes, all else equal) Ha: ï¢1 ≠0 (demand changes when education changes , all else equal) Step 2: Form your test statistic: Step 3: Decision rule: Reject H0 if |t| > Step 4: Conclusion? )( bS E b t ï¢ï€  969.,2/%5()1,2/(  ï€ï€ï€ï€ tt knï¡ )|( Line Regression Unknown True xxxxyE ï¢ï¢ï¢ï¢  p-values 16 Step 2: Find the p-value for test statistics There is a 2.22E-07 chance that the relationship between EDUCATION and the demand of the term life insurance is due to chance; or there is nearly 100% chance that this relationship is real.
E-7 is scientific notation, directing you to move the decimal 7 places to the left. Step 3: Decision rule: Reject H0 if p <0.05/2 Step 4: Conclusion? What does the p-value mean? The p-value assess the impact of chance on our model. The formal definition is the chance of getting the sample statistic, or something more extreme, given that the null is true.
R2 (Coefficient of determination) 17 ï‚— The strength of the fit of a linear model is most commonly evaluated using R2. ï‚— It tells us what percent of variability in the response variable is explained by the model. ï‚— Example 3.1 R2=34.25% ï‚— 34.35% of the variation in the LNFACE is accounted for by EDUCATION, NUMHH and LNINCOME. ï‚— Thus, about 65.65% of variation in face value remains unexplained. Is the overall model reliable? 18 Step 1: H0: ï¢1 = ï¢2= ï¢3= 0 (The model is due to chance) Ha: At least one of the ï¢s ≠0 (The model is reliable) Step 2: Form your test statistic: Step 3: Decision rule? Step 4: Conclusion? )1/()21( /2 ï€ï€ï€  knR kR F )|( Line Regression Unknown True xxxxyE ï¢ï¢ï¢ï¢  F test statistics 19 Test the overall model fit?
Use F test statistics! 1: F is always positive 2: F has two parameters: df1=k and df2=n-k-: F is not symmetric )1/()1( / 2 2 ï€ï€ï€  knR kR F Is the overall model reliable? 20 Step 1: H0: ï¢1 = ï¢2= ï¢3= 0 (The model is due to chance) Ha: At least one of the ï¢s ≠0 (The model is reliable) Step 2: Form your test statistic: Step 3: Decision rule: Reject H0 if F > Step 4: Conclusion? )1/()21( /2 ï€ï€ï€  knR kR F ？ ï€ï€ï€½ï€½ )12,1,( kndfkdf F ï¡ )|( Line Regression Unknown True xxxxyE ï¢ï¢ï¢ï¢  ？ ï€ï€ï€  ï€ï€ï€  )13275/()3425./3425./()21( /2 knR kR F p-values 21 Step 2: Find the p-value for the model There is almost no chance that this relationship is due to chance; or there is nearly 100% chance that this relationship is real.
Step 3: Decision rule: Reject H0 if p <0.05 Step 4: Conclusion? 3.3 Variance Decomposition 22 ANOVA table 23 Total SS =Regression SS + Error SS R2= Regression SS = 1 – Error SS Total SS Total SS F= Regression MS MSE Lab 2: Term Life Insurance Part I: R Application: Build a linear model for LNFACE vs Education, NUMHH and LNINCOME. Step1: Data preparation: Q1: Create a new variable LNFACE=LN(FACE) Q2: Use 10 bins of equal width to do the histogram plots for FACE and LNFACE. Paste them here↓ Q3: Describe the shape of your histogram plots. Step2: Linear Regression: Part II: Analytical Questions Q1: Write down the true unknown relationship between LNFACE vs Education, NUMHH and LNINCOME.
Please label the meaning of each notation. Q2: Please fill out the following ANOVA table by using formulas on ppt page 23. Use 2 decimal points. ANOVA df SS MS F Regression ? 328.45 ? ?
Residual ? 630.43 ? Total ? OLS estimators for the slopes and the intercept are sample statistics. Use the computer output to answer the following questions.
Use 3 decimal points. Q3: Write down the estimated OLS regression line. For each estimator, please provide the corresponding standard error. Q4: If actual EDUCATION were 14.524 yrs, the NUMHH were 2.96 and the LNINCOME were .149, use the estimated regression line to answer the following questions: Q4.1: what should we expect the LNFACE to be? Q4.2: If actual sales turned out to be 7,000, then how far off are we?
I.e., what is the Prediction Error/Residual? Q4.3: What is the expected face value? Q5: Interpret the slope for Education. Q6: Interpret the slope for LNINCOME. Q7: What is the R2 of this model?
Interpret R2. Use 5% level of significance to make inference: Q8: What is the interval estimate of ? Interpret this interval estimate. Q9: Is the relationship between LNFACE and EDUCATION significant? Use the p-value to finish the four-step hypothesis test.
Q10: Is the overall model reliable? Use the p-value to finish the four-step hypothesis test. Part III Textbook Exercise:
Paper for above instructions
Career Planning Reflection: A Comprehensive Report
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Task 1 – Values Audit (100 words)
Personal Values:
1. Integrity
2. Achievement
3. Leadership
4. Loyalty
5. Innovation
Considering values is crucial to career management as they influence career decisions, shape professional behavior, and impact job satisfaction. Values guide individuals in setting realistic career goals and pursuing opportunities that align with their core beliefs and motivations (Schultz & Zoghi, 2019). Aligning one’s personal values with workplace culture fosters engagement, productivity, and a lasting sense of purpose (Kahn, 1990). As I aim to pursue a career in project management within the technology sector, my values will significantly influence my organizational fit and professional interactions.
Field of Work/Further Study:
I plan to pursue a career in project management in the technology sector. Throughout my undergraduate studies, I have developed several hard skills, including:
1. Data Analysis: Proficient in using analytical software to interpret complex datasets, aiding in strategic decision-making.
2. Project Scheduling: Gained the ability to create and manage project schedules using tools like Microsoft Project.
3. Financial Reporting: Developed competence in preparing financial reports that guide project budget management.
4. Technical Writing: Enhanced skills in creating technical documentation and reports for project stakeholders.
5. Risk Management: Acquired knowledge of risk assessment methodologies, essential for identifying potential project hurdles.
These skills will support my transition into project management by allowing me to efficiently manage resources, monitor project progress, and effectively communicate with diverse stakeholders.
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Task 2 – Capability Audit (650 words)
Employers seek specific competencies when choosing graduates, often looking for both hard and soft skills. Here are the five most common selection criteria along with reflective examples of how I exemplify them:
1. Demonstrated Capacity to Communicate Effectively:
Effective communication is a cornerstone of successful project management. During my studies, I presented multiple group projects, honing my ability to succinctly convey complex ideas. For instance, in our final capstone project, I led the presentation, receiving positive feedback for clarity and engagement. Communication extends beyond presentations; it includes drafting reports, which I’ve practiced through various assignments, refining my ability to translate technical language for non-technical audiences (Robles, 2012).
2. Good Organizational and Administrative Skills:
My experience coordinating team projects provided me with firsthand knowledge of organizational planning. For instance, I managed timelines, set deadlines, and delegated tasks in group assignments, ensuring that we met our objectives. These experiences illustrate my ability to stay organized and juggle multiple tasks—skills that are crucial in project management where meeting deadlines is non-negotiable.
3. Proven Ability to Work as Part of a Team:
Teamwork is integral to achieving common goals in an organizational setting. I worked collaboratively on various projects, notably in my interdisciplinary project management course. In this course, our team had to combine diverse skill sets to develop a project, fostering mutual respect and understanding. By valuing each member's contributions, we successfully completed the project ahead of schedule, emphasizing the importance of teamwork in achieving success (Karl, 2004).
4. Well-Developed Customer Service Skills:
Throughout my part-time job in retail, I developed strong customer service skills. Handling customer inquiries and complaints taught me the significance of patience and empathy. This experience has not only enhanced my interpersonal communication but also reinforced the importance of customer feedback in successful project management. Managers must ensure that project outcomes align with customer expectations and requirements.
5. Proven Ability to Manage Projects:
During my academic journey, I worked on several project-based courses where I assumed the role of project manager in diverse teams. For example, I led a project aimed at developing an app for a local business which involved setting clear objectives, tracking progress, and adapting to challenges. By implementing agile project management methodologies, I fostered an environment that supported flexibility and innovation. This experience directly reflects my capabilities in managing projects effectively, aligning with employer expectations of initiative and leadership in project settings.
The importance of both hard and soft skills in the workplace cannot be overstated. Employers today seek a blended skill set that covers technical abilities and interpersonal effectiveness. According to the Australian Public Service (2013), candidates who can demonstrate technical skills alongside strong interpersonal qualities—such as emotional intelligence and collaborative ability—are more likely to stand out in the competitive job market. I believe that my educational experiences and the skills I've developed make me a strong candidate for my desired role in project management.
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Task 3 – Graduate Elevator Pitch (250 words)
Hello, my name is [Your Name], and I am excited to share my ambition to excel in project management within the technology sector. With a bachelor's degree in [Your Degree], I have cultivated a diverse skill set that includes data analysis, project scheduling, financial reporting, and risk management. My studies have not only equipped me with these hard skills but have also allowed me to hone my soft skills, such as effective communication and teamwork.
In previous experiences, I've led projects that required collaboration across different disciplines, fostering an environment where innovation thrived. A notable project involved creating a mobile app for a local business, where my team met all our deadlines and received commendation for our well-organized workflow. This experience solidified my passion for project management and deepened my understanding of agile methodologies.
Moreover, my commitment to providing excellent customer service has reinforced my belief in aligning project outcomes with client expectations. I thrive in environments that promote growth, and I believe my values of integrity and innovation align perfectly with this organization. I am eager to bring my mix of skills and my enthusiasm for technology-driven solutions to [Company Name], contributing to the success of your projects and teams.
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References
1. Australian Public Service. (2013). Addressing selection criteria. Retrieved from [insert URL]
2. Kahn, W.A. (1990). Psychological conditions of personal engagement and disengagement at work. Academy of Management Journal, 33(4), 692-724. doi:10.2307/256287.
3. Karl, L. (2004). Articulating Skills in the Job Search. Business Communication Quarterly, 67(2), 23-30. doi:10.1177/108056990406700205.
4. Robles, M. (2012). Executive perceptions of the top 10 soft skills needed in today’s workplace. Business Communication Quarterly, 75(4), 453-465. doi:10.1177/1080569912461506.
5. Schultz, P.W., & Zoghi, M. (2019). Values and Career Decisions: Current Research and Future Directions. Journal of Career Development, 46(3), 377-386. doi:10.1177/0894845317702452.
6. [Additional references to be added as required based on research and findings].
7. [Additional references to be added as required based on research and findings].
8. [Additional references to be added as required based on research and findings].
9. [Additional references to be added as required based on research and findings].
10. [Additional references to be added as required based on research and findings].
(Note: Ensure to replace placeholder text related to specific fields of study and audience with relevant information specific to your experience and context.)