Global Economy

Assignment 10

Student’s Name:

Instructor’s Name:

Course Name & Number:

Institution:

Date:

Based on the research you have done, will your ideal job be impacted by the global economy? How?

Yes my ideal job will be affected by the global economy. Reason being when the global economy is poorly performing, companies are not able to sell much and this means that the revenue generated will be low leading to law payments, and retrenchments leading to increment of job seekers. There are two entities which are positively related here, giving a positive causal relationship and correlation. A good global economy leads to a good job market with many jobs. We should understand that prosperity breed prosperity, meaning when stock market is well performing then the companies are doing better as well making more capital to flow here more employers will hire labor. This will result into a situation where people looking for jobs will find jobs and the jobs will also be competitive. As the economy continues to remain positive these people will be able to keep their jobs. On the contrary, with bad global economy characterized by falling stock market, less capital and poor market conditions, the job market will fall. This situation will lead to employees being laid off. Such a situation can result when there is a global recession leading to less capital for the companies and less money to be spent on employees CITATION Cho131 l 1033 (Cho, 2013).

2-What will be your strategy for survival? How will you adapt and survive in a competitive workforce?

The job market is quite different from what it was some 10 to 15 years back. Currently job search is characterized by rapid adoption of social media as well as a recovering world economy making the millions of annual grandaunts to wonder the next move to make. As a new entrant into the job market I would adopt the following strategies to enter the constantly evolving and competitive job market:

Fighting my fear to put myself out there- networking is the deal here that will help me get thrown a lot. With my wide network of contacts from school and different places, networking proves to be the most effective search strategy. What I would do is to reach out to more friends and family, keep attending alumni networking events, and ask my internship supervisor for recommendation.

I would work a social media as I would work my own room- it is important to keep in mind that social media is not about posting photos of me and my friends. Social media sited such as linked in can be very influential in towards portraying a job seeker to potential employers. If a well-known figure took him/her precious time to create an account and profile in LinkedIn why should I not.

Looking at the bigger picture- as a new entrant into the job market, I would not be bound to specific regions. I would consider looking out of the usual suspect. It is important never to limit your job search to only the famous well-known companies and corporations. I would even consider working for a company in a different industry.

I should be my best advocate- as a recent graduate; I know that I have minimal work experience. This does not mean that my experience are not worthy of sharing. I would highlight my accomplishments academically, internships, my past jobs, and identify other areas that may attract the attention of the employers. I would even offer to volunteer with a certain group in order to get the much needed experience.

Lastly, I would be definite about my goals. This means that not every vacancy that comes a cross is open for application. Application for any vacancy would raise a red flag on the employer that I do not have a career direction. However I should also not be just confined to my area of study. The world is changing and so do the roles and requirements of various job openings. I would strive to show the employer that I’m flexible and willing to learn new things. This males ma e lethal weapon to the organizations because I can fit in many departments if not all. CITATION Dyc13 l 1033 (Dychtwald, 2013)3- Are there other courses, skills, and training you think you need to keep up with the changing global economy?

The following are the ways I would use to predict and prepare for workplace in the future. These are the things I should be doing now to make sure that I don’t face a dead end in my career.

I should try hard to find an academy company. By this I mean getting a job with a company renowned in an industry for developing its people. Examples of these companies are Toyota, General Electric and Mars. With this kind of company, I am enrolled for continuous development.

I would try to get and remain tech Savvy because most of the development around has something to do with technology. I should try to solve problems in a faster and leaner way and try to keep my technical skills current. This should be so even if the current and new developments are not in line with my job. If I don’t do this, I would be left behind. There are new online tools like online conferencing and blogging to be learned. It is very important to be proactive and keep current even if my company does not.

Development of my competencies and skills-it is of utmost importance to keep developing in order to remain in demand in the market place. Skills like leadership, communication, stress management, innovation and interpersonal skills are basic and fundamental requirements for jobs tomorrow. I can do this by choosing two competencies to develop each year and monitor and track the progress. I would also develop a five year learning plan to acquire the education and knowledge I prefer as well as a cross functional skill. Cross functional skills are important because specialization is no longer a route of choice.

The next weapon to stay abreast with the changing global economy is to think global as well. This because with globalization, geographic boundaries are becoming less and relevant. Workers now can be from anywhere in the world and there is need for acquisition of ability to fit in the international market place. What is should do is to learn how to work with a diverse culture, learning other languages, and asking for assignments requiring international exposure. This will give me more experience with working with in the global market place CITATION Wag14 l 1033 (III, 2014).

4- Finally, of all the research you did and the literature presented, which influenced your way of thinking the most?

I have come to realize that job description may not be relevant in future and it is important for an individual to ensure the skills he or she brings on to the table are competitive. However with some planning and forethought I am capable of taking control of my future carrier today. The issue here is not how much skills I possess rather how much tuned I am to the early indicators of change. Fist I need to realize that change is constant and constantly develop plans to be ahead in the game. Armed with this weapon, I will be in a great position to capitalize on the present and the changes. It is also very important to develop resilience because the future is uncertain. No matter how prepared I am. There are always setbacks and only the successful people can bounce back. Therefore there is need to constantly affirm and evaluate my strengths, develop realistic and achievable goals and build my flexibility and at the same time maintaining my enthusiasm no matter the situation around CITATION Wag14 l 1033 (III, 2014).

References

Cho, Y., & Newhouse, D. (2013). How did the great recession affect different types of workers?

Evidence from 17 middle-income countries. World Development, 41, 31-50.

Dychtwald, K., Erickson, T. J., & Morison, R. (2013). Workforce crisis: How to beat the coming

shortage of skills and talent. Harvard Business Press.

Wagner III, J. A., & Hollenbeck, J. R. (2014). Organizational behavior: Securing competitive

advantage. Routledge.

www.futurist.comhttp://www.wfs.org/