Module Name Personal Effectiveness

Programme Name MSc Management

Student Reference
Number (SRN)

Assessment Title

Declaration of Original Work:

I hereby declare that I have read and understood BPP’s regulations on plagiarism and
that this is my original work, researched, undertaken, completed and submitted
following the requirements of BPP School of Business and Technology.

The word count, excluding the contents table, bibliography and appendices, is 2493
words.

Student Reference Number: __________ Date: ______

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 Personal Effectiveness

Student Name:

Student ID:

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Table of Contents

Introduction...................................................................................................................... 1

Task 1.............................................................................................................................. 2

Reflective Model: Gibbs Reflective Process..............................................................................2

Skills Analysis Regarding Chosen Career.................................................................................3

Task 2.............................................................................................................................. 5

Analysis on Leadership Skills of Elon Musk..............................................................................5

Skill Comparison........................................................................................................................5

Task 3.............................................................................................................................. 8

Identified Areas of Development................................................................................................8

Short Term Plan for Improvement.............................................................................................8

Conclusion..................................................................................................................... 11

References.....................................................................................................................12

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Introduction

Being personally successful means getting what one wants by applying the skills and
ability to the utmost while simultaneously concentrating on places where the person can
do better (Dijkhuizen et al., 2018). To be an entrepreneur, I need to be able to organise
thoughts strategically, communicate clearly, and become willing to take opportunities.
These may help me get through the challenging business world as per Winter (2010).
For Task 1, I have employed a model of careful practice to reflect on my business
techniques and figure out what I performed well and what I could do better. Task 2 was
to carefully think about Elon Musk's leadership skills, contrast those with my own, and
discover approaches I could get better. Task 3 is centred around developing a short-
term strategy for my development based on what I have learned in Tasks 1 and 2. One
way I intend to get better at running my entrepreneurial venture is by concentrating on
the two primary areas that I can do better and investigating ways that I can make them
better. This approach works for me because I want to be more productive and get closer
to my professional objectives as an entrepreneur.

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Task 1

I have dreamed of being an entrepreneur of a successful business venture in my

career. Here, I will give an overview of the skills I have as a business person, which
may help me to be an entrepreneur. I will use an example of a thoughtful technique to
assess my strengths and weaknesses.

Reflective Model: Gibbs Reflective Process

Figure: Gibbs Reflective Process

Source: (Adeani et al., 2020)

Description: Problems at school with employment are often less challenging for me
when I keep my ideas clear. Making certain I use my free time well, I list tasks by how
significant they are and when they are due as proposed by Adeani et al. (2020). I also
work with other people frequently so that we can both improve. But I enjoy spending
time in the driver's seat for every aspect of a job, so it can be hard for me to give other
people tasks to do.

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Feeling: It is expected that I can take a look at concerns and make strategies regarding
how to deal with them. Even so, I do have queries regarding my skills sometimes,
usually when I am in an unfamiliar or challenging scenario. It is very helpful to get
suggestions from teachers and coworkers to help get over these fears and see matters
in a new way as proposed in the model (Winter 2010).

Evaluation: One of my best qualities has to be that I can change. I have

confidence in changing my mind when other individuals say things or give me new
information. I am capable of speaking to customers, coworkers, and other key
individuals well, which helps me carry out my job well. I understand that I am less than
stellar as I might seem at taking risks, though. I do not always try novel ideas because
there is a fear of failing.

Analysis: These skills are good for running an organisation. Business comes with a lot
of unanticipated events so you need to be able to change as proposed by Markkanen et
al. (2020). Also, strong language builds connections which you need for connecting and
negotiations. I want to be an entrepreneur, nevertheless I am afraid of undertaking risks.
This might make it challenging for me to take opportunities and develop new ideas.

Conclusion: In general, the procedure of thought has demonstrated to me the positive

and negative aspects of the abilities I have. Being able to communicate and being
considered flexible are some of the characteristics that make a good business
(Dijkhuijen et al., 2018). To get better at the job and in life, I need to focus on
my weaknesses, particularly whenever it comes to taking chances.

Action plan: I will work on becoming less afraid of undertaking risks for the reason I
know that is an area that I still would like to improve. Getting out of my familiar
surroundings will have to be something I do to reach my goal. For example, I might
have to look for intriguing endeavours or places to explore. There are also owners of
companies with a lot of knowledge that I will attempt to gain from. They may assist me
handle risks and share the things they have discovered from their own personal
and professional experiences.

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Skills Analysis Regarding Chosen Career
Strategic Thinking

Strength: As one of my abilities I can take a look at various situations and come up with
methods to deal with them. This is essential for a business to be effective. It is up to
entrepreneurs to be thoughtful about the targets for the future and come out with good
plans for how to reach those goals as proposed by (Gurtu and Johny, 2021).

Weakness: When I make strategies, one of my shortcomings is that I do not always

think about different points of view (Tur-Porcar et al., 2018). This keeps me from
remaining imaginative and from coming through with innovative concepts.

Communication

Strength: Communication skills are essential for developing connections with

collaborators, telling financiers about ideas, and giving staff members an appealing
vision (Kumar et al., 2022).

Weakness: I am good at talking to individuals but I know I need to work on writing as

well as speaking, particularly whenever it comes to making clear plans for business and
reports.

Risk Management

Strength: One of my abilities is that I use opportunities with the utmost caution. This
entails that I think about challenges very carefully and attempt to find ways to address
them (Gurtu and Johny, 2021).

Weakness: People who are incapable of taking risks, on the other hand, might not want
to try novel approaches or come across inventive concepts as much, which is
sometimes relevant to me and this can limit my chance for growth according to Ullah et
al. (2021).

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Task 2

In this task, I am going to investigate the skills a business leader has and examine the
way they match together with mine. I will determine Elon Musk's leadership abilities by
using Covey's models as a guide. Musk runs Tesla and SpaceX as CEO (Khan, 2021).
After that, I am going to find out what I need to do to increase my chances of one day
becoming a business owner.

Analysis of Leadership Skills of Elon Musk

Visionary leadership: Elon Musk is an outstanding spokesperson of the dreamer since
he wants to bring about big changes in the car and aerospace businesses (Ellison,
2015). He has an accurate depiction of how the future is going to look like thanks to
initiatives such as the plan to live on Mars and the transition to clean technology.

Strategic Thinking: Musk is exceptionally good at thinking strategically since he can

see holes in the competitive landscape as well as shake up large businesses according
to Khan (2015). Putting Tesla's supply network together vertically and committing to
SpaceX's reusable rocket development were both economically sound moves that put
the two businesses at the forefront of inventive concepts as the writer explained more.

Risk Taking: Musk is recognised for being willing to take substantial hazards to
implement his ideas (Archwell and Mason, 2015). He is willing to take predicted
probabilities because he put the funds himself through SpaceX despite the fact it
struggled at first and placed even more into Tesla's electric cars. Entrepreneurs need to
have this personality characteristic to be effective.

Creativity and Innovation: People who are employed by Musk are continually
encouraged to consider alternatives outside the box as well as come up with creative
concepts and there have been huge steps forward because of the unusual way he
solves problems (Tur-Porcar et al., 2018). For example, the global market for electric
cars has increased and space research has experienced progress.

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Skill Comparison
Visionary Leadership: I have an understanding of what I want my business to
accomplish, but recognise that I need to get better at communicating and expressing
the objective. Taking Musk as a case study, I want to come up with an account that is
more intriguing and is going to get people excited concerning my projects and help them
succeed.

Strategic Thinking: I am required to concentrate on my strategy reasoning even more

than Musk does, particularly whilst it comes to finding fresh market developments and
anticipating problems that are likely to arise in the future. I can get more proficient in
writing good business plans by continuing to study Musk's approach to generating smart
choices and the success stories associated with his businesses.

Risk Taking: I understand how crucial it has been to me to be more innovative in my

work as I contemplate Musk's willingness to take risks. Though I know it is important to
be willing to take smart risks, I also know this is important to leave what is familiar to me
and seize chances to learn and grow.

Creativity and Innovation: I have been moved by Musk's determination to try new
ideas to make my own companies more creative by encouraging people to do new
activities and see failure as an opportunity to learn. To foster an innovative
attitude, which will help my business grow in the long run, I must continuously seek out
various points of view as well as question what most individuals think.

Improvement Requirements for Personal Effectiveness

 Going to speak effectively so I can articulate my thoughts to people who

are important to me (Lüdeke‐Freund, 2020).
 Looking at how excellent businesses conduct themselves and how economies
work to learn how to process information more carefully.
 Getting people to put things into calculated risks and make the most feasible
chances for progression and new ideas (Fernhaber and Zou, 2022).
 I support creative thinking in the companies which I run by getting people to try
new things and seeing failure as an opportunity to learn.

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Task 3

I am going to create a short-term plan to further develop the two areas of development
that were previously identified by implementing most of the knowledge that I acquired
from tasks 1 and 2. I will be likely to develop capacities that are beneficial to the
success of my venture if I continuously seek out strategies to boost my productivity.

Identified Areas of Development

Enhancing Strategic Thinking

 When it comes to successfully running a business, having the ability to think

strategically is one of the most essential tools available and so when I can do
things in this manner, I will be found to improve my ability to make decisions as
well as become ready for the future (Rosado-Cubero et al., 2023).
 Even though I currently possess a substantial quantity of information about
thinking strategically, I still need to acquire further expertise regarding this topic
to continue being able to recognise tendencies in the market and create methods
for developing my organisation (Ullah et al., 2021).

Development of Risk Capability

 It may be difficult to conquer the fear of losing and to comprehend how to be

ready to undertake risks that will work to my best advantage, despite being
aware that taking chances has been deemed helpful for companies (Diandra and
Azmy, 2020).
 If I can enhance my capacity to do assessments of risks and capitalise on
chances, I will be capable of becoming a more effective business owner.

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Short-Term Plan for Improvement

Enhancing Strategic Thinking

 Setting Specific Objectives

 For my entrepreneurship efforts, I must create specific goals, in the short and
long term, and I need to make sure that those objectives are in keeping with my
broad objective (Gregori and Holzmann, 2020).
 To keep track of achievements and evaluate the effectiveness of long-range
initiatives, it is essential to define important performance indicators, often known
as KPIs.
 Market Research
 Take into consideration the possibility of setting aside a particular period for the
sole reason of doing a comprehensive market analysis to identify new trends,
client preferences, and other elements of the competitive environment (Cullen
and De Angelis, 2021).
 To provide support for making intelligent choices and to find opportunities in the
market, it is necessary to examine the observations that are provided by the
statistics.
 Seeking Mentorship
 To acquire perspectives that are both knowledgeable and insightful regarding
strategic planning, it is important to take part in talks with experts and mentors
present in the sector.
 Through the use of mentorship links, I will enhance my strategic thinking
procedures and acquire information from conditions that are pertinent to the real-
world setting.

Development of Risk Capability

 Identifying the barriers

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  It is expected that I would be able to identify specific fears or reservations that
restrict me from taking chances when I reflect on what experiences I have had in
the past.
 To address the illogical anxieties, I will first accept them and then reinterpret
them as opportunities to foster personal growth and advancement (Kumar et al.,
2022).
 Starting from small
 I shall progressively introduce myself to dangers that had been calculated in
advance by starting with undertakings or efforts that are more measurable and
lower in scale.
 I will create a mindset that is open and receptive to experimenting and iteration,
and I recognise the fact that failure is an unavoidable component of the
procedure of developing into an entrepreneur (Trapp and Kanbach, 2022).
 Enhancing confidence through action
 When I take decisive action I will take measures towards overcoming
the concerns and welcoming risk, despite the reality that I am uncertain regarding
what to do.
 To cultivate confidence and be able to continually bounce back from difficulties,
and sublimation it is essential to acknowledge and appreciate even the most little
of successes.

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Conclusion

It was helpful to get valuable insights on how the review activities can support me
to make my entrepreneurial business more successful. I found additional information
regarding my strengths and weaknesses using careful examination in Task 1. This set
up an environment for concentrated personal growth. I had an opportunity to think about
Elon Musk's approach to leading in Task 2. It showed us both good models to adhere to
and approaches we could get better. As the last part of Task 3, I made a short-term
strategy to help me think critically and be more willing to take chances, both of which
are crucial for becoming an entrepreneur. I will be equipped to be more productive and
handle the difficulties of running an organisation with trust and power if I use these
ideas and commit to constantly growing and gaining knowledge. In the contemporary
aspects of entrepreneurship and the business environment, the prominence of personal
skills and abilities is boundless as the effectiveness of these serves as the core of
entrepreneurial ventures and the way to ensure one's ambitions come true.

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