Your Career Choices
The Career Process
At no point in the career process can an individual assume
that the job search process is complete. Even employed individuals
need to know that when companies are bought and sold, some people
will be left looking for new positions. Company benefits are
constantly changing, and what was once standard, such as paying
for schooling, can be eliminated in the name of cost savings.
It is up to the individual to keep informed, to read as many
current publications as possible, and to constantly update skills
and redefine goals.
Planning a career is a lifelong event, not something done once
at age 18. Encourage students to continue finding and using
sources of career information and to periodically reevaluate
career choices. A conscious reexamination of educational choices
is also necessary as workplace competencies change. Being flexible
is the key to a long, satisfying career.
Making a career choice is a lengthy process and does not always
work out as planned. Explain that career development is not
always an exact science and that it never actually ends. What
meets a person's needs at one stage of life may not work at
another. Having a family can have a great impact on career plans,
as can health, the economy, world events, and new interests.
Encourage students to think of career decisions as an ongoing
process that will continue their entire adult life.
The study of international economies can be useful to students
in helping them identify information about the U.S. job market.
Privatization of corporate assets in a distant country can have
repercussions in the United States. For example, years ago General
Motors had its property privatized by Argentina's government.
That did not stop the company from reinvesting in the country,
encouraged by its more stable economy. Whether that decision
proves to be wise or not, the rest of GM will be affected by
it. Regularly reading a major newspaper like the Wall Street
Journal can help student's stay informed on such matters.
Business and Social Responsibility
Learning about business and social responsibility is the first
step in a lifelong commitment to make choices based on information.
When students make consumer decisions, the information they
need is available to them if they make a conscious effort to
become informed about a given topic. Which products to use and
how to dispose of them affect the student's personal environment
as well as the environment at large. By reading a variety of
publications and joining in community and school activities
designed to educate consumers, students can make a difference.
Keeping up on international trade is a challenge for those
not directly working in the field. The rules of the game are
complex, and they can change overnightso can the players.
Think of the fall of the Berlin Wall in 1990 and its aftermath.
To help your students keep up with such changes, encourage them
to find at least one business periodical and read it on a regular
basis. Also, suggest watching television news coverage of international
Basic Math Skills
Taking basic courses in business math and accounting can give
students an advantage in such diverse areas as completing income
tax returns, buying groceries, computing interest paid on loans
or credit cards, investing in retirement plans, and receiving
the maximum benefits offered at work. Often benefits that employers
offer go unused because individuals don't take the time to calculate
their value. For example, many employers offer to match an employee's
savings deduction up to a certain percentage, usually 4 percent
of annual salary. Encourage students to master basic math calculations
and find applications in real life.
There are many ways for students to improve their ability to
communicate effectively with both small and large groups of
people. Many working adults say that early grounding in a speech
or debate class helped them to get over a fear of speaking in
public. By speaking in speech, debate, and drama groups on a
regular basis, students experience the wide range of emotions
that public speaking can bring on. Most, but not all, students
find that this practice leads to increased comfort later on
when they must speak in front of a group. Encourage students
to look into Toastmasters, an organization developed to enhance
public speaking for any who are interested. They also sponsor
student groups. For those who still find public speaking anxiety
producing, speech coaching is another possibility.
New computer improvements and developments happen constantly.
In order to stay up-to-date on changes students should read
at least one computer magazine on a regular basis. Two good
general magazines are PC World and PC Magazine. Both offer industry
updates and new information along with the results of consumer
and industry surveys of new and existing products. In addition
to reading, however, it is most important that students have
a regular opportunity to try out new software and other products
and to learn to use the most popular programs. This can be achieved
by taking classes or by volunteering at work to attend training
Employers frequently state that good interpersonal skills are
required for even the most technical jobs. These skills can
be learned and improved over time in a variety of ways. Many
classes are offered under a wide range of titles, such as Getting
Along with Others, Communication Skills, Human Relations, Assertiveness
Training, Customer Relations, Supervisory Skills, Listening
Skills, or even Speech. Sometimes the courses are offered through
adult education programs at local high schools or community
colleges, or they may be part of the regular course offerings
at a college or university.
Today's work force requires participants to be responsible
for managing their own careers. Given the central role of computer
technology in many of the best-paying jobs, general education
must be supplemented with actual hands-on computer knowledge.
Encourage students to commit to developing and maintaining their
computer skills by taking classes regularly, volunteering to
learn new programs, and familiarizing themselves with as many
computer applications as possible. Remind them that soon there
will be no managers who are not computer literate.
Risk management is a huge specialty that offers employment
opportunity for those interested in the field. Workplace safety
can come under the jurisdiction of many departments, including
Human Resource Management. Students interested in this field
would benefit from taking courses in human resources, industrial
and/or labor relations, and risk management. The Business department
of your local community college is likely to offer classes on
this subject. Following legislation pending in state and federal
congressional committees can be another way to keep up with
Personal Financial Planning
Throughout their lives, students will have many different financial
needs and goals. By learning to use their money wisely now,
they will be able to achieve many of those goals. Financial
planning involves first choosing a career and then learning
how to protect and manage the money earned throughout their
lives. Encourage students to develop a financial plan by taking
personal financial planning classes, reading books on the subject,
and accessing Web sites such the Motley Fool (www.fool.com).
These steps will help them meet their lifelong financial goals.
Money Management Strategy
Learning how to organize personal financial records and create
a workable budget are the first steps in a lifelong commitment
to personal financial management. New software is constantly
being developed to help people manage their personal finances
and create personal financial statements. Students can stay
current on personal financial software by visiting software
retailers and reading publications that review this type of
software. Many people find that using updated software makes
keeping up with personal finances easier and more fun.
The Fundamentals of Investing
There are many ways to maintain lifelong learning toward investments.
Investment seminars are very popular, and there are many resources
for continued learning. The Web sites of investment firms and
investor services offer a great deal of information, and business
publications, such as newspapers and magazines, can help an
investor stay up-to-date on investment opportunities. Explain
to students that following business trends will also help them
make more informed choices when investing. By reading the business
sections of local newspapers, students will find out which businesses
are staying in business and growing and which business are not
doing so well. Even reading the public notices for building
permits gives clues as to which businesses are expanding.
Those who invest in stocks to achieve their financial goals
have several sources of current information. They include the
stock market quotations of the newspaper, the Internet, and
corporate annual reports. For those who choose to invest in
stocks later in life, there are stock market games accessible
on the Internet that allow potential investors the opportunity
to track a stock before spending actual money. Encourage students
to participate in a stock market game in order to become familiar
with the benefits and pitfalls associated with investing in
Those people interested in investing in bonds and mutual funds
have resources similar to those of the stock market investor.
The financial section of the newspaper lists bonds and mutual
funds, and the Web sites of investor services, such as Standard
& Poor's, actually rate their performance.
Planning Your Tax Strategy
It is often said that the only two things that are certain
in life are death and taxes. Because we all pay taxes, such
as sales tax, income tax, and property tax, it is important
to plan how to pay for those taxes in order to manage our finances
successfully. Do students know how buying a home, having a baby,
or buying mutual funds will affect the taxes they pay? Impress
upon students the need to plan for taxes every year of their
lives. Remind them of the resources, such as books, magazines,
software, and tax professionals, that can help them prepare
for taxes throughout their lives.
Consumer Purchasing Strategies and Legal
Students need to understand that studying consumer issues is
an ongoing process. New issues arise and new products are introduced
every day. Staying on top of developments can help students
become involved consumers-those who buy and use products that
are safe, reasonably priced, and good for the environment. In
order to remain current on consumer issues, students should
read magazines such as Consumer Reports. Encourage students
to use their business education as a springboard to a lifelong
study of consumer issues.
Since the creation of the Federal Deposit Insurance Corporation
in 1933, most people feel secure keeping their money in a bank.
Early on, banks offered their customers checking accounts and
savings accounts. They also offered a few types of loans. However,
as consumers needs have changed, banking services have also
changed. To keep up with these new banking services, impress
upon students the need to seek information from their current
bank as well as prospective banks. By comparing the services
they are receiving with the services being offered by other
banks, students can be sure they are getting the most appropriate
services for their money.
Students will deal with many consumer credit issues during
their lives. They will have to decide when and how to use credit,
how to maintain and protect their credit, and how much is enough
credit. Taking classes and visiting Web sites, such as the Standard
& Poor's calculators Web site, can help students stay on
top of their debt load. This is crucial to keep from being overwhelmed
by debt. Also, impress upon students the need to review their
credit histories as compiled by the three major credit bureaus.
Most financial experts recommend requesting a copy of your credit
history once a year. Students can find out the procedures for
requesting a credit history by accessing the Web site of each
major credit bureau.
The Finances of Housing
The cost of renting or buying a residence is a primary living
expense for everyone and a major concern throughout life. Many
life-changing events, such as new jobs, marriage and divorce,
and the birth of a child, may require a person to reevaluate
his or her housing options. Encourage students to become familiar
with the real estate section of their local newspapers and local
real estate publications. The Internet can also help people
review the many possible housing options in a specific location.
Remind students that by managing personal finances throughout
their life, they will be better able to cope with any changes
in housing if it becomes necessary.
Becoming an Entrepreneur
Students who believe they have entrepreneurial potential need
to continue their education to gain the skills to run their
own businesses. Many high schools, colleges, and adult education
programs offer courses specific to entrepreneurship and small
business management. Other helpful courses include accounting,
computer classes, and marketing. Joining a nonprofit organization
that provides information to individuals, such as the National
Business Association, can also be helpful.
Sources of Funding
Anyone who wants to start his or her own business needs to
know about and be familiar with the Small Business Administration
(SBA). The SBA is not only a source of many kinds of funding
(ranging from guaranteed loans to grants), it also offers a
wide selection of publications on various business management
topics as well as personal advice and assistance from retired
business people. Make sure students know how to access SBA information
at its Web site at www.sba.gov.
Financing the Business
In order to enhance their knowledge of financial information
related to business, students may wish to take additional business
classes including accounting, small business management, entrepreneurship,
and related computer classes to give them experience using spreadsheets.
Such classes are offered at most community colleges, by the
SBA, and as regular university courses. In addition, reading
from a variety of case studies in related books and magazines
can help further understanding of the complexities of the financial
side of business.
Types of Business Ownership
Because types of business ownership involve different legal
issues, additional courses in business law could be helpful
to students who are interested in starting their own business.
Emphasize that before entering into any type of new business
or business start-up, the owner(s) should seek competent legal
advice. The best way to find a good lawyer is by referral. Suggest
to students that prospective business owners should talk to
other established business owners to find out whom they would
Developing a Business Plan
Due to the importance of business plans, advise students to
study them further. Recommend students read business magazines
and books devoted to the subject, such as Inc. magazine's How
to Write a Successful Business Plan. Additionally, there are
community college and university courses offered that specifically
teach how to write business plans.