INDIVIDUAL ASSIGNMENT COVER SHEET

STUDENT DETAILS
Student ID
Student name: Trần Vĩnh Luân number: 21000906

UNIT AND TUTORIAL DETAILS

Unit name: Principles of Management Unit number: MAN101

Tutorial/Lecture: Lecture Class day and time: Monday
Lecturer or Tutor name: Dr. Gareth Craze

ASSIGNMENT DETAILS

Title: Personal SWOT Analysis_Tran Vinh Luan

Length: 2080 words Due date: 12/04/2022 Date submitted: 11/04/2022

DECLARATION

✓ I hold a copy of this assignment if the original is lost or damaged.

I hereby certify that no part of this assignment or product has been copied from any
✓ other student’s work or from any other source except where due acknowledgement is
made in the assignment.
I hereby certify that no part of this assignment or product has been submitted by
me in another (previous or current) assessment, except where appropriately
✓
referenced, and with prior permission from the Lecturer / Tutor / Unit Coordinator
for this unit.
No part of the assignment/product has been written/ produced for me by any other
✓ person except where collaboration has been authorised by the Lecturer / Tutor
/Unit Coordinator concerned.
I am aware that this work may be reproduced and submitted to plagiarism detection
✓ software programs for the purpose of detecting possible plagiarism (which may retain
a copy on its database for future plagiarism checking).
Student’s
signature: Vĩnh Luân
Note: An examiner or lecturer / tutor has the right to not mark this assignment if the above
declaration has not been signed.

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Famous Quote + How it inspires me + Practical examples

“Successful people don't fear failure, but understand that it's necessary to learn and
grow from.” - Robert T. Kiyosaki

This quote is the advice offered by Robert T. Kiyosaki, the author of the bestselling book
"Rich Dad Poor Dad" when he talks about human failure in life. For me, the quote is
very meaningful and has become a living motto to help me bravely face difficulties and
failures in my development journey. It is possible to say that no one is perfect and has
never made a failure throughout their life (Campbell & Forester et al., 2018). But I am
really inspired by the fact that, rather than trying to avoid making failures, the quote
advises that we could have more opportunities to learn from them and improve
ourselves. It has been said that only in situations of adversity, such as that caused by a
failure, do we reveal our true abilities (Lind et al., 2018). Understanding and overcoming
failures is the ultimate goal of the human learning process, and it is also a key factor in
determining one's success (Hunt, 2017). The quote accurately reflects my recent
Consumer Behavior (CB) study. Since marketing is not my major, I found it difficult to
keep up with my previous unit's Principles of Marketing (PMK). Therefore, when
studying CB as a subject based on PMK's theory, I was even more overwhelmed by the
volume of theory. Without a solid foundation, I only got 5 scores for my assignments.
However, I soon realized my failure was due to a lack of understanding of the subject
PMK. After that, I learned from my mistakes and spent time re-reading the PMK
textbook before applying concepts to the CB course. In the end, I almost performed
beyond my expectations after four weeks of hard work when my midterm score was 9.2.

Vision statement

After graduating with my bachelor's degree, I hope to work in the field of financial
analysis in the banking sector. With my passion for calculating and analyzing numbers
and data, as well as my cautiousness, I believe that I will provide the best results for
organizations that hire me. In the next 10 years, I aspire to be able to start my own
business that provides financial advisory services to companies. Becoming a financial
consultant for a company has great meaning because, along with the fact that I can

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earn a lot of money, I will have to contribute to making the right strategies and plans to
help the company make profits. This job is my most ardent passion, which I will pursue
throughout my career.

Mission statement

As a freshman at ISB, the most important thing I have to do is study and accumulate
valuable knowledge from textbooks and lecturers' lessons to achieve the highest
possible grades. However, theoretical concepts from books and universities will never
be sufficient to instantly adapt to the current working environment (Wrenn, 2009).
Besides, learning and exploring to develop soft skills and sub-specialties is essential for
thriving in a fiercely competitive world (Patacsil & Tablatin, 2017). Therefore, I plan to
participate in more extracurricular activities and competitions related to business in
order to apply theory and practice soft skills through communicating and working in a
team. Additionally, I will also set myself apart from others by learning IT skills, such as
coding, because it is the current trend in the financial industry to use algorithms to make
data processing easier.

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Strengths

Firstly, I am an avid learner who is prepared to shift outdated ways of thinking to keep
up with new global trends. According to Wagner and Vollmar (2014), with today's
advancements in technology, a huge portion of the knowledge we accumulate will
become obsolete as time passes. As a result, shifting my perspective and dismantling
the barriers of my prior mindset is an effective approach for me to obtain new
information and avoid falling behind in this intensely competitive era. This strength will
be instrumental in developing my future profession, especially when the 4.0
technological wave has radically altered the financial fields. Currently, the financial
industry requires candidates who not only have a strong understanding of financial
concepts but also possess new capabilities such as IT and management (Iman & Tan,
2020). Therefore, with my eagerness to learn, I have been and will continue to learn
more IT skills from online courses while also honing my leadership qualities by
challenging myself with leadership roles on teams and projects.

My second strength is optimism, which allows me to see the bright side of even the
most negative situations. Optimism is beneficial because it aids in the better
management of stress and fatigue, as well as the identification of opportunities for
improvement in all circumstances (Joshi, 2021). According to Giorgi et al. (2017),
banking jobs are one of the most stressful types of work since only one incorrect
number could lead to disastrous consequences. In my future career of financial analysis
in the banking sector, it will be extremely difficult to avoid making mistakes when the
data is numerous and sophisticated. However, rather than being anxious and striving to
prevent mistakes, optimism allows me to see them as opportunities to learn. In other
words, I believe optimism will motivate me to turn difficulties into opportunities for my
future development.

The final strength that I would like to address is my own leadership abilities. I can
effectively lead and manage a team by recognizing each member's talents and
shortcomings and assigning them appropriate tasks. In addition, I am adept at listening
to my teammates' opinions and making decisions that involve the entire team.
According to Karia (2019), employees with leadership qualities have a better chance of

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moving up the corporate ladder. Therefore, with leadership skills that have been
cultivated in the past and will be further developed, I believe that in my future career, I
will be able to build mutual understanding with colleagues and superiors in the company
while also demonstrating my leadership skills in business issues to help myself advance
to higher positions, such as manager and director.

Weaknesses

My inadequate capacity to multitask is one of my significant weaknesses. When I

have multiple jobs to complete at the same time, I will easily become stressed, and my
work productivity will suffer. To be honest, I consider myself a single-tasker who will feel
most at ease and fulfilled when concentrating on only one thing at a time. Although Lin
et al. (2016) point out that single-tasking brings better performance than multi-tasking,
focusing on only a single activity at a time has some substantial downsides, such as
lengthening the overall process to finish all tasks and potentially sacrificing opportunity
costs. Since time is a valuable opportunity cost and saving time helps organizations
allocate more resources to other areas (Zhao & Jiang et al., 2015), many corporations
have a tendency to hire more multi-tasking employees. As a result, the above weakness
could be a barrier for me to meet companies’ requirements. However, I believe that
daring to change is an important part of improving one's life (Yoon, 2013), so I am
always ready to overcome this weakness by changing my awareness, and devoting my
effort to attempting to multitask.

Next, being easily influenced by emotions is another of my weaknesses. My

emotional state sometimes has a significant impact on the effectiveness of my work. In
particular, when I am motivated, I generally finish a lot of tasks in a short period of time.
However, when I am uninspired, I usually procrastinate and perform poorly. Tamir
(2015) states that employees who are mood-driven and have inconsistent outcomes are
not evaluated as highly as those with consistent results. Consequently, this weakness
may impede my advancement in future work when my performance is unstable and
susceptible to emotional changes. There will be occasions when my outcomes exceed
my supervisors' expectations, but there will also be moments when they fall short of the

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established benchmarks. To overcome this weakness, I plan to practice more emotion
modulation and convince myself to separate my personal feelings from the public work.

Opportunities

According to a report by Class Central with 950 universities worldwide, the number of
massive open online courses (MOOCs) has increased significantly in recent years,
from 10,000 courses in 2019 to nearly 20,000 courses in 2022. This impressive number
demonstrates the expansion of online courses in the context of information technology
development and the greater interest of learners when these courses can help them
gain more knowledge and get valuable certificates (Koksal, 2020).

The popularity of online courses provides me with a great opportunity to broaden the
knowledge outside of my major. As I previously indicated, IT expertise is a sub-specialty
that I want to acquire to perform well in financial positions involving data processing.
Thanks to certified online courses from reputable organizations like EdX or Udemy, I will
be able to access online classes that teach programming languages and code writing to
build a foundation of IT knowledge for myself.

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Besides, the use of mentoring programs as a disruptive innovation has opened a
new door for my future development. According to Ahmadmehrabi and Farlow et al.
(2021), companies are now focusing on building mentoring programs because they
allow employees to find experienced mentors who can assist them on their professional
path rather than learning and developing on their own. As a result, instead of having to
start from scratch and struggle to improve by learning and progressively honing my
abilities, which might take years, I will be able to accelerate the process by acquiring
useful experience from my mentors.

Last but not least, the new financial sector “decentralized finance” (DeFi) with the
application of blockchain technology also creates many opportunities and
reallocates resources for the financial industry (Casey et al., 2018). A report by Future
Market Insights (2021) points out that the blockchain industry has seen rapid growth,
with the CAGR index reaching 39.3 percent in the period 2015–2021 and expected to
reach 43.5 percent in the period 2022–2030. In terms of application, the aforementioned
technology has generated plenty of new occupations, including blockchain supply chain
management and DeFi.

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Compared to the saturated and highly competitive traditional financial industries, the
DeFi industry is still in its initial phases of development, which means there are more job
opportunities and less competition. Furthermore, the DeFi business demands human
resources that are skilled in both finance and IT, making it more appealing and distinct
from the rest of the financial industry in terms of work and salary. finance. Therefore, it
will be a great potential when I become a pioneer in this field by strengthening my
financial knowledge learned at ISB and enhancing my IT abilities.

Threats

According to Badet (2021), artificial intelligence (AI) has completely transformed

traditional businesses, with many human-based professions being gradually replaced by
robot ones. A report by Indeed (as cited in Columbus, 2018) shows that the market
share of jobs demanding AI technologies has grown massively with the increase by 5
times in US market, nearly 9 times in UK market, or even 15 times in Canada market in
only 5 years from 2013.

It implies that AI's development and increasing replacement of human occupations will
pose a significant threat to me in the modern workplace, where I will be competing not
only with other candidates but also with AI. The widespread application of AI would
cause incompetent employees to be excluded as a resource-saving method for
organizations (Frank et al., 2018). As a result, I will have to put a lot of effort to grow into
a highly talented employee who is appreciated and retained by employers.
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Besides, "Infobesity" - information overload in the age of technological
advancement is another big barrier for my future professional development. According
to Guo & Wang (2020), in over ten years, the volume of information has increased by 50
times, from 0.8 exabytes to 40.0 exabytes. However, Roetzel (2019) states that the
quantity of information that one can consume has not increased considerably in the last
five years, resulting in the phenomenon of information overload, which occurs when
information is not fully processed but many outside sources continue to provide it.

I believe that it will be challenging to acquire and select which information is truly useful
and effective in my work, since if I do not put the effort to work on that, I rmay end up
wasting my time studying and absorbing information that has no effect on my personal
development.

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