Self Development Project - Management

Topics: Decision making, Personality psychology, Decision theory Pages: 6 (2347 words) Published: July 23, 2008

Part 1
One of the most important things regarding my future career was to learn, what really was of interest to me and sooner the better. When I put interest, effort, and passion into a job, success and respect of all others will go hand in hand. About three years ago, when I was still in the on-campus program of Master in Civil Engineering in the Czech Republic, I entered the global real estate consultancy firm of Knight Frank Newmark as a property manager’s assistant. Due to the lack of the capacity and of employees, I was soon given a big project to manage by myself. I felt like a spring chicken or a kid thrown in the deep water to learn how to swim. It was necessary to change my work load into a full time job in spite of the fact, that at that time I attended school about four times a week during the day. My university did not offer evening classes. However, it was a difficult and stressful period of my life the responsibility, faith given by the boss and his patience to teach me how to be an independent property manager of big commercial buildings was a driving force which helped to put 100% of energy and ability into my job and school. This was a life changing experience. I fell in love with big commercial office buildings. I loved the environment of the real estate business in Czech Republic. It was important for me to have a chance to meet some very successful businessmen, to build close relationships with them and to learn from them. The main scope of my employment and responsibility was property management of administrative buildings and ensuring their smooth running. It also included the preparation of invoices and budgets, service charge reconciliations, management of contractors and project management of construction works. All this was provided as a service to building owners. As much as I loved job, after while I discovered that I would like to be on the other side of the aisle and become an asset property manager and decision maker. For this kind of position civil engineering degree is very useful. Also required is of law, finance, accounting and economics. When I finished the M.S. in Civil Engineering, I started to think what else I needed to do for my future career. At the same time, a very generous offer came from a close family friend to come to the United States and study at AUM for my MBA degree. The combination of these two degrees is very prized in the area where I would like to work. So, I see my future position as an asset manager in a real estate development/investment company and I believe that my personality suits me to this kind of work. I would like to work for a strong worldwide company with the seat in Prague, Czech Republic. The real estate market has been in big boom in the Central Eastern European region for the past several years. There are just a few big players in the market. The whole environment can be tough, tricky and very challenging. Among the duties which are involved in such a position belongs planning and directing the purchase, development, and disposition of real estate. These managers focus on long-term strategic financial planning rather than on the day-to-day operations of the property. However they are also involved in “smaller” decisions if needed. In deciding to acquire property, real estate asset managers consider several factors. Those factors are property values, taxes, zoning, population growth, transportation, traffic volume and patterns. Once a site is selected, they negotiate contracts for the purchase or lease of the property, and then they secure the most beneficial terms. Real estate asset managers review their company’s real estate holdings periodically and identify properties that are no longer financially profitable. They then negotiate the sale of, or terminate the lease on, such properties. Personal characters of these managers are high self-efficacy, internal locus of control as well as being responsible and goal...
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