A personal development plan. Becoming an international manager in Essay

A personal development plan. Becoming an international manager in intercontinental hotel - Essay Example Identifying my strengths and weaknesses will enable me to achieve both professional and personal development in the hospitality industry. A personal development plan is important because it fosters and monitors career progression and helps in developing appropriate skills needed to meet the demands of customers and employees in the hospitality industry. The work of an international hotel manager includes answering all questions posted by clients across the world about hotel services and policies. The manager also listens and resolves employees and client’s complaints. The international hotel manager assigns tasks to employees and carefully schedule shifts for all employees worldwide. Supervisors assist in monitoring employees’ work, but the ultimate authority of observing and monitoring employees’ performance in the hotels rests with the international manager. This operation enables the hotel management to accomplish tasks that are assigned to employees. Internat ional managers schedule appointments with clients to plan banquets, weddings and other formal or information conventions. They also meet with business associates and stakeholders to discuss business expansion and future business partners in new countries. The work of a hotel manager is to monitor and track money spent and hotel profits. The international hotel manager is required to cooperate and deliberate with other senior managers to synchronize the activities of the hotels in different parts of the world. The manager is in charge of negotiating contracts with suppliers, electricians, medics and other important people that work together to achieve a common goal of higher returns in their different fields. International hotel managers write extensive reports about each department functions in the hotel and use a computer system to monitor and maintain this information. Some hotels allow their international managers to set room price rates, create a budget, develop and implement po licies and create hotel procedures. An international hotel manager may be allocated the marketing, advertising and promotion design tasks. After completing my studies, my short-term goal includes working in an international hotel such as InterContinental Hotel as a manager. This position will give me the platform needed to acquire experience and skills to progress to a senior manager. Developing interpersonal relationships with my seniors, peers and subordinates will enable me to work towards increasing the hotel profits and improving the living standards of staff members. My long term career aspiration after 5 years of working as a manager is to be promoted to international InterContinental hotel manager. This top position will increase my annual salary with benefits and further develop my leadership and management skills. My long term personal aspiration is to travel to new countries, meet new people and learn new skills. In my international management position, I will develop new working conditions favorable for employees working in different countries with respect to their religious values, political affiliation and cultural backgrounds. I will plan and implement an exchange program for my employees, enabling them to travel to other countries that have our hotel branches and work for six months. During this time, employees will be allowed to explore their creativity in the hospitality industry, exchange cultural values and create a global relationship with other employees from different countrie

Dont Expect Job Data Alone to Persuade Fed on Rates Article

Dont Expect Job Data Alone to Persuade Fed on Rates - Article Example The short-term unemployment rate or the proportion of people remained jobless for 15 weeks has declined to 3.1 percent; however, this figure is still higher than the figure of the prerecession period. One more important consideration is labor's share of income in the nonfinancial corporate sector, which is measured by the Bureau of Labor Statistics each quarter. For comparison, it should be noted that the labor's share of income has remained between 61 and 66 percent right from 1950 through the early 2000s; that is currently ruling at 57.1 percent – much below 60 percent registered in 2005. Thus, Yellen is more concerned with the people who have fallen behind. Lower interest rate helps boost demand because consumers tend to spend more rather than saving or holding it. Moreover, the cost of borrowing is low helping businesses to invest and create employment; lower mortgage helps spur growth in construction because the interest burden on home buyers is minimal. In short, lower interest rate helps increase aggregate demand within the economy that in turn, boosts business activities reducing prevailing unemployment rates and that is what the Fed is attempting to do. In view of this, it is clear that until the job market improves on all parameters –unemployment rates and the labor’s share of income, there is a little scope of the interest rates getting revised upwards by the Fed. The Fed would like to observe the job market data for several quarters to come before making any upward revision of interest rates.