Reflection Paper

Building a career and becoming a professional in a specific field of work is perhaps the most common goal of every human being. Career dreams and inspirations differ from each other to the same extent as those, who pursue them. Thus, career paths are guided by such personal characteristics as individuals’ abilities, talents, interests, passions, and in most cases, individuals surrounding. My personal reflection encompasses a self-exploration of my interests, things I consider important and reasons behind my beliefs that made me enter the college. It is also important to reflect on the short and long-term goals needed to support my academic and professional aspirations; as well as the end goal of my education, the reasons I am interested in a chosen career, my future opportunities in finance and wealth management world. Many students seek help and decide to apply to admission essay writing service at

I have a great passion for investment and the stock market. My interest in investment was piqued largely by my dad when he gave me this book, Rich Dad Poor Dad by Robert Kiyosaki and Sharon Lechter. At that time I was only 14 and I was struck by the knowledge that despite savings are an invaluable seed in wealth generation, investment is what really makes wealth grow because no matter how much money one saves, if he/she dont risk to invest it, the money will not bring further incomes. At the age of 16, having shallow knowledge on investment and the stock market, I happened to come across an article about the Great Depression of the 1930s, and how big traders on Wall Street like General Electric were at the core of the economic crisis that wreaked havoc on the world of economy. Being born in a third-world country, where chances and life opportunities to access, create and multiply wealth are very few due to a weak economy and political instability, I consider knowledge of how to create and manage wealth as the most important thing to any Lebanese. I enrolled in college here in the United States in order to get a high-quality education and get acquainted with a Western culture with an aim of entering business school thereafter. The end goal is to be financially literate enough to create and manage wealth.
A profound knowledge of financial and investment management is a key prerequisite for success in the investment and stock market industry. This is my first semester at University of Massachusetts and my short-term aspiration is to get a college degree and join the business school thereafter. It is also my plan to acquire a Master’s degree in Finance as well as a CFA certificate. It is my personal belief that success in the investment market has its roots in proper and well-founded knowledge in finance and investment management. Thus, I plan to use my knowledge to become an influential player in investment and stock market and to help others, as a financial consultant, to create and manage wealth. My greatest inspiration to pursue a financial career comes from my dad and the way he has endeavored himself to earn enough money to be able to send me to a school in the US to get the high-quality education. This might be the reason he gave me that book when I was a teenager.

Though I have no practical skills in the field of investment and financial management, I have succeeded in educating myself about the stock market operations while reading books and articles about all aspects of the world of finances. I want to become a wealth manager because I’m confident in my ability to earn myself and people money. There are many potential opportunities for an investment and financial manager in the field. I could start working as a financial advisor, a risk manager, a Financial Planning Analyst, an Investment Banking Sales Agent or a Client Services Associate in institutions like banks, credit unions, insurance firms, and brokerage companies. On an entrepreneurial level, I could begin a brokerage firm, become a consultant or an educator in investment and financial management. My short-term goals, aimed at supporting my academic and professional aspirations, are to engage in learning and research process and to explore as many resources as I can to bolster my knowledge on wealth management. In the long term, I aim to save up enough money in order to invest in a stock market.

My career and professional aspirations are in line with my greatest desire to be a player in the investment and stock market. In order to reach my long-term goal, I have to acquire as much knowledge on financial and investment management as I possibly can. I am very confident in my abilities to earn money for me and for other people. I am self-taught about the stock market and investment and I firmly believe that investment is the sure though risky way of turning personal savings into wealth. Getting a quality education in investment, financial and wealth management will be a handy acquisition in my long-term aspirations to be a player investing in the stock market.

Management Functions at MacDonald’s

Management is a vital component required by organizations to achieve goals and objectives. When functions of management are properly implemented in an organization, the organization can achieve its goals and remain competitive progressively. McDonald’s is a fast food chain that has remained ahead of its competitors due to an excellent management process. Despite the challenges that have resulted from bad economic conditions and changing tastes and preferences, the fast food has remained profitable and competitive. The success of the corporation is hinged on its management’s efficiency. MacDonald’s uses the following management functions to outperform its competitors and increase its revenues and profits; planning, organizing, leading and controlling.

Planning involves decision making about an organization’s present and future prospects. Planning lays the foundation upon which the objectives of an organization are to be set and achieved. The strategies through which progress is achieved are defined during the planning process. At MacDonald’s the planning function has been evident throughout its history. Initially, the company decided to penetrate its potential market through growth. This involved setting up new restaurants  in different geographic regions of the world. The growth strategy is evident in the 119 countries that host MacDonald’s Restaurants. This strategy has contributed to the company’s leadership in the fast food industry. While many of its competitors operate mainly within the United States, 57% of MacDonald’s restaurants are outside United States (Steveman, 2010). The economic meltdown that negatively affected the American economy affected MacDonald’s to a lesser extent compared to its competitors. This was due to the extra revenues Macdonald’s earned from its foreign operations compared to its competitors. Although the Compay’s initial market penetration strategy was through setting up new restaurants, it could not remain feasible throughout due to changes in the demographics and market saturation. After implementing the strategy for several years, new restaurants started snatching business from existing ones. The management at MacDonald’s had to change its plan so that it could fit within the saturated market. The second plan that the company is currently using is refurbishing its restaurants to give them a new and attractive look. Moreover, menu options are constantly being adjusted to reflect new tastes and preferences. Initially, the Fast Food operated during lunch and supper times. This paper is written by professional essay writers that provide custom essay, research paper, term paper, thesis and annotated bibliography writing services for students around the globe. Progressively, decisions were made to include breakfast in its operating hours. Currently, more than 40% of its restaurants in the United States operate for 24 hours. Such changes emerge from the planning process.

Organizing entails setting the internal structures of an organization, responsibilities and allocation of resources. Organizing is required in the implementation of plans and strategies. Organization involves allocating human and material resources to tasks that must be completed to realize an organization’s objectives. At MacDonald’s, some of the restaurants are operated by its management while others are operated through franchising. The franchise system enables the company to minimize its costs and maximize on the franchisee’s market knowledge in local markets. For instance, the refurbishment will cost the company less due to the sharing of costs through the franchise system. Macdonald has given different Vice Presidents the responsibility of making decisions within their divisions. For Instance, the European Vice president has the responsibility of making decisions relating to design, décor and menu components of restaurants operating in Europe. This responsibility has enabled the European division to become organized and compete aggressively with the American division in terms of revenue generation. Consequently, differentiation based on the tastes and preferences of different cultural groups has been achieved. Such differentiation has created customization of products and services that fit the needs of specific customer needs. The overall result has been increased customer loyalty to MacDonald’s products, which has translated to increased market presence, profits and revenues.
The leading function involves directing the daily activities of an organization towards achieving the organization’s objectives. This function requires good leadership and interpersonal skills that help in making decisions and motivating employees. MacDonald’s has been able to maintain consistency in the quality of its products despite the high employee turnover. A high employee turnover can cause a difference in the quality of products. However, due to the good leadership at MacDonald’s, the products’ quality has remained fairly constant. The leadership of the company has chosen experts to develop new products. The leaders have directed the product development team to develop products that are least affected by the high employee turnover. Such leadership has ensured MacDonald’s dominance in the fast food industry.

Controlling ensures that the whole organization is efficient in the utilization of resources and conforms to the laid down policies and procedures, which lead to objectives’ achievement. Controlling identifies discrepancies between the plan and the actual status of affairs and devise corrective measures. At MacDonald’s, there is a unique culture that should be adhered to by all restaurants irrespective of their geographical location. The Company is famous for burgers and fries, which identify it everywhere. In cases where change is required to conform to cultural needs, the leadership of the company gives the direction of the way forward. For instance, MacDonald’s had to continue making burgers in India despite the fact that part of the Indian population does not consume either pork or beef. The company leadership decided to offer burgers made using vegetables. The company has been able to devise corrective measures in making healthy foods that are currently  in demand. This has enabled it to control the bad publicity associated with the claim that its food is unhealthy.

In conclusion, MacDonald’s has been able to keep competitors at bay due to its functional leadership and management team. The company has used planning, organizing, leading and controlling functions of management. As a result, it has continuously overcome challenges and gained a competitive advantage over its competitors.