Student Number:2050826

Introduction

Mental Wealth can be defined as a number of interventions and activities require to support students for developing specific core competencies for becoming successful in the professional, as well as personal lives. Hence, this study looks after identifying mental wealth core competencies and evaluates the importance of the same.

Aim and objectives

The major aim of this study is to do a skills audit and then do a skills SWOT analysis to identify and evaluate personal, professional and academic skills.

The major objectives of this study are:

· To do a skills audit

· To do skills SWOT analysis

· To identify the interrelationship between identified skills

· To evaluate the importance of these skills and

· To provide recommendation for further improvement

Importance of mental wealth competencies and their recognition

As discussed earlier in this study, mental wealth competencies are a number of activities and interventions required for developing an individual as a whole (professional, personal and academic). Hence, mental wealth competencies are required for each individual in this era of Industry 4.0. According to Sima et al. (2020), automation and digitalization are going to influence the occupations, job profiles, recruitment process and much more. Therefore, it is necessary to have such mental wealth competencies to be on top in coming days. The University has also stated that in the industry 4.0, people must have certain core competencies like emotional intelligence, cognitive intelligence and much more to work appropriately (University of East London, 2021). Therefore, it is important to recognize the mental wealth competencies to rank higher in the professional world and personal life simultaneously.

The mental wealth core competencies and interventions are given below:

(Source: Taken from lecture 1)

From the above picture, it can be said that there nine competencies (mental wealth) can be found. These include digital proficiency, industry connections, emotional intelligence, social intelligence, physical intelligence and much more. However, it is to state that interventions of such skills are:

· Laying foundation by understanding and having significant knowledge

· Developing critical thinking and analytical skills

· Honing subject-based practical skills set for HET and

· Having skills to be proficient in work and personal life

Identify and evaluate academic and personal skills

For identifying and evaluating academic and personal skills, the skills study template is attached below. Based on the skills study template, a skills SWOT analysis is also done, based on which the importance of such skills and recommendation for further improvement is given.

Skills Evidence Grades

Harvard Referencing I face issues while referencing Harvard style. I know how to cite a book C I need lots of improvement in Harvard referencing.

and journal article in Harvard referencing but I do not know ways to cite a book chapter, AV (audio visual aid) and image. This impacted in my assignments also, as I was unable to cite a YouTube video on my writing Especially in citing a book chapter, YouTube videos, podcast and other credible sources

ICT My ICT skill is not up to the mark, as I am not confident in learning and applying new ICT skills. Although, I have a basic computer knowledge and I have been surviving on that to prepare my assignments, calculate my monthly budget in Microsoft Excel but I need to improve in this skill C Having ICT skills are much important in context of today, as I need to compete with thousands while getting a job. Hence, I need to improve this skill by learning new software applications

Numeracy I always do good in numeracy. Since, my early school days, I was able to solve numerical problems effectively. Also, while doing assignments, I have been able to apply my numerical aptitude efficiently A I do well in this area. Although, I need to learn advanced numerical aptitudes to make this skill perfect

Communication (Oral and

Written) My oral communication is not as much effective as C

my written communication. I am able to express my views and opinions through written communication effectively, but I feel least confident while communicating orally. I need to improve my oral communication skill. I can present my perspective in written form but fail to express it through verbal communication.

Team working I can rate my team working skill higher. In our TM4016 group presentation, my team do well, as I was the team leader. B This is one of my strengths, but I need to learn how to keep team members motivated to achieve goals

Time Management I face issues in managing times. I often fail to do things in right times. As a result, my daily routine is undisciplined. I cannot manage the times at the weekends to. This is having serious impact on my personal, professional and academic life C I need to work constantly on managing my times. I had developed a time management plan, as given in this course, but failed to stick to the time management plan

Problem Solving I found it easy when solving any problems. The reason, I think that I solve problems appropriately because, I always look for a solution. I had solved one of my friend’s study related problems by B I am well equipped in problem solving skills but there is a room for improvement

helping him identifying important chapters

Presentation Skills My presentation skill is somewhat moderate. I am able to present my views on a topic but sometimes I get stuck C. I need to work a lot on my presentation skills. I often face issues in presenting something on a critical topic

Strengths Weaknesses

1. Team working is one of my strong

areas that I have identified from the Skills

audit. However, I need to learn on how to

keep team members motivated

2. I am well equipped with problem

solving skills

3. I do well in Numeracy. This is one of

my strengths 1. I have a basic idea on Harvard referencing, but I need to work on this skill to progress in my academic context. 2. There are lots of improvement needed in developing my ICT skills. I am only aware of basic computer applications like Microsoft words, Excel, PowerPoints etc. 3. I need to improve my oral communication skill. It does not allow me to express my perspective effectively 4. I am facing issues to maintain my time and strategically use it. I need to work on Time management skills 5. My presentation skill is not up to the mark. I need to improve a lot to remove the block that I face while presenting myself in front of others

Opportunities Threats

1. Learning different techniques to motivate others will help me developing my leadership skills 2. I have the opportunity to work on my problem-solving skills to make it perfect, which might help me in my professional and academic life effectively 3. Enhancing numerical aptitude will allow me to develop analytical skill and will also help me to solve problems logically 1. Inefficiency in citing Harvard sources appropriately might get less marks in assessments, which might impact on my course 2. Insufficient knowledge in ICT might be a major setback for me while getting a job in the industry 3. inefficiency in communicating with others might affect my network connections, which might have an impact on my professional life 4. Lack of time management skill might make my personal, professional and academic life full of troubles. Hence, it is highly important to have a significant time management skill to remain productive. Also, it will also help me to achieve my career goals strategically 5. I need to work on my presentation skill, either I might face issues in presenting my views before my seniors in workplace or before my tutors in the class

From the above discussion on skills audit and skills SWOT analysis, following skills have been identified that need further improvement for self-betterment in professional, personal and academic context. These are:

· I need to work on Harvard referencing style

· I need to have extensive ICT skills

· I need to improve oral communication

· I need to improve my presentation skill

· I must develop a strategic time management plan

Skills required for the industry

· Technical skills

o Strong Industry Knowledge: 33% employees stated

o ITC skills: 30% preferred this skill

o Ability to solve complex problems: 29% opined this

· Soft skills

o Team working: 53% preferred this

o Customer handling skills: 49% said this

o Flexibility: 40% said this

This information is taken from a report from the Government of the UK on Hospital and Tourism Workforce. Therefore, it can be said that these skills are required to work in the hospitality industry.

Interrelationship between identified skills and discussion on how transferrable they are in the hospitality industry

It can be said that these identified skills possess significant interrelationship between them and they are highly transferrable in this industry. For example, having a good ICT skill will help learners to progress further in this industry. Therefore, this skill is transferrable in the hospitality industry. On another hand, a significant interrelationship between communication and presentation skill can be identified. As, one needs to possess good presentation skill beside having good communication skill (oral and written). Similarly, team working skill and problem-solving skill can be interlinked with each other. As an individual it is important to solve problems effectively to execute appropriate team working. Therefore, it can be said that these identified skills are interlinked and they are transferrable to the industry. For instance, having good problem-solving skill will allow an individual to improve his/her work efficiency in the professional life as well as in the personal life also. Similarly, time management skill is one of the prime skills that every individual, irrespective of the profession must acquire and excel to get better benefits in the workplace and in the academic world too.

The identified skills in the skills audit possess significant importance on the personal and professional development of a learner. For instance, Richiţeanu-Năstase et al. (2018) identified a significant correlation between time management and life quality of individuals. Therefore, it can be said that having a good time management plan will help individuals to maintain their personal and professional lives significantly. On another hand, Gallagher (2013) commented that problem solving skills are necessary for self-betterment in any sphere of life. That means, people need to solve problems with their problem-solving skills to lead a quality life. Apart from these, the Covid-19 pandemic has created a significant impact on the lifestyle of people and it changed the requirement of a job roles extensively. Hence, Marr (2020) stated that one must possess skills such as emotional intelligence and digital literacy and many more to remain effective in the post corona virus world.

Conclusion and Recommendation

The above study on the personal, professional and academic skills have identified some key areas that I need to improve for acquire better mental wealth core competencies. Hence, it is to conclude that I need to improve my ICT skill, oral communication skill, presentation skill, Harvard referencing skill etc. On the other hand, some strong interpersonal skills have been identified through the skills audit. These are, problem solving skills, numeracy skills and team working skill. Nevertheless, some recommendations can be given on which skills to be improved and how.

Recommendation 1: Improving ICT skill

I need to improve my ICT skill by learning software that are in demand in the industry

Recommendation 2: Improving Harvard referencing skill

I need to improve my Harvard referencing skill by reading books, attending workshops and much more

Recommendation 3: Improving oral communication skill

I need to improve my oral communication skill by practice speaking daily or watching videos

It is important to prepare a time management plan by identifying the key areas that need to do first. This will help me to develop a better time management plan.

Cottrell S (2015) ‘Skills for Success – Personal development and employability’, London, Palgrave Macmillan Chapter 2 & 7

Gallagher, K. (2013) ‘Skills Development for Business and Management Studies,’ 2nd ed. Oxford, Oxford University Press

Gov.Uk., (2019). ‘Economic Insight’, Available at https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/827952/Hospitality_and_Tourism_Workforce_Landscape.pdf (Accessed: 1st January 2021)

Marr, B., (2020). ‘8 job skills to succeed in a Post-Coronavirus World’, Forbes. Available at https://www.forbes.com/sites/bernardmarr/2020/04/17/8-job-skills-to-succeed-in-a-post-coronavirus-world/?sh=62ead8102096 (Accessed: 4 February 2021)

Richiţeanu-Năstase, E.R., Stăiculescu, C. and Lăcătuş, M.L., (2018). ‘Time Management Skills. Academic Achievements and Life Satisfaction. A Case Study at Bucharest University of Economic Studies’.