1) Your Initial Career Aspiration Introduction to Deloitte Touche Tohmatsu Limited Deloitte Touche Tohmatsu Limited is a worldwide company that provides professional services in the area of auditing, taxation, consulting, risk analysis and financial advisory. It serves as a global firm in which there are many separate member firms over many countries and cities. Each member firm remains its separate and independent legal entity. Mission Deloitte aims at helping its clients to excel. In order to achieve the mission, Deloitte is going to enhance the member firms’ size, strength and resources.
Strategy Segments to serve Deloitte Touche Tohmatsu Limited carries out a Broad market strategy. It supports different industries like Consumer Business and Transportation, Real Estate, Energy and Resources, Manufacturing etc. Its serving targets are the entire market. Competitive advantage Deloitte reported that the member firms have US$26. 578 billion revenues in total and worldwide as at 2010. Deloitte has become the market leader and surpasses all competitors in the private professional services. Business-level strategy
The company owns competitive advantage in terms of revenue and headcount. In the year of 2010, Deloitte reported US$26. 578 billion revenue and employed approximately 170,000 people. The enhancement in company’s structure and personnel has made Deloitte competitive in the industry of professional services. Differentiation strategy Different services are available for customers ranging from auditing to financial analysis. Deloitte provides high-quality product offerings with high flexibility, problem-solving and deep technical capabilities. Structure Deloitte Touche Tohmatsu Limited:
It is obvious that Deloitte Touche Tohmatsu Limited (DTTL) applies the use of decentralization, in which the member firms have separate and legal entities. The member firms continue to provide professional services, but they are not provided by DTTL because member firms and DTTL cannot obligate each other. The decision-making authority is assigned to each member firm in different district. The benefits are the availability of greater flexibility and better decision making results, which can turn out lead to increase in control. Multidivisional structure:
A structure in which a firm is divided into different divisions, each of which is responsible for a distinct business area. Deloitte owns different divisions within a company so each division is responsible for a specific task. It provides professional services in the area of auditing, taxation, consulting, risk analysis and financial advisory. Each type represents a unique division in Deloitte. Geographic structure Examples member firms are: (2) Skills and abilities likely to be needed at the company My desired future career is the auditing job offered by Deloitte.
Different divisions within Deloitte will require different skills and abilities. So, in my following parts, I will concentrate more on auditing works within the company. To enter into the so called “Big Four” accounting company, the basic requirement is the university degree. According to my recent chat with some accounting partners in the Accountancy Society Events, they said that a very high GPA is not a must, but at least candidates should have satisfactory academic result, like GPA meets 3. 0. Decades ago, many companies employed candidates who could excel in their academic performance.
However, nowadays, employers look for candidates who have leadership skill and the potential of teamwork building, especially for auditing accountants, they usually work as a team to serve their clients. Moreover, employers tend to seek for candidates who have experience in curricular activities, as they are more capable in leading a team and work with different people with different walks of life. For the language requirement, candidates are most preferable if he/she can speak fluent Cantonese, English and Putonghua.
There is an increasing trend for companies especially accounting firms, to recruit candidates who can communicate in Putonghua because of the economic growth in the Mainland China. In the auditing division, many clients are the mainland companies and employees working in Deloitte may have regular conference with the mainland clients. For most of the auditing accountants, they usually work as a team in the mainland industries for physical stock count. Therefore, good command in Putonghua places an important language criterion in auditing jobs.
Apart from the above abilities, fresh graduates are preferred if they have presentation skills, good characteristics and problem-solving skills. Therefore,interview section takes an essential part in the recruitment process. Through interview, human resources manager can distinguish outstanding job-seekers from those less outstanding because they can be directly accessed the above skills and abilities. A better interviewing skills can help us excel in a job recruitment. To be a professional accountant, exceling in professional accounting examinations are the basic needs that can increase our own competitiveness.
These are the physical papers or certificates to proof your hardware on accounting knowledge. (3)Gap Analysis Current skills and abilities Gap Required Skills and abilities Academic Performance Although entering into the “Big Four” accounting firm doesn’t really require candidates to get outstanding grade point, like GPA is over 3. 5, satisfactory academic results are must. In the first semester, my academic performance is not that satisfactory to meet the requirement. However, it is not a worse situation because I still have time to work hard for my remaining semesters.
Teamwork and Leadership Qualities Nowadays, companies look for employees who can work well as a team and cooperate with their teammates. As an ex-co of the Accountancy Society, all of the committee members’ work together to organize activities for accounting students. I am good at communicating with others and cooperate with anyone else. Besides, I have been a St. John Cadet for 8 years; I have gained great experience in organizing some big events like community services, internal activities and external activities. When I was a junior cadet, I tried different posts within a committee.
As a senior cadet, I was given opportunities to be a chairperson in the school committee and camping committees. All the experiences I learnt make me stronger in working as a team and leading a team. And now, I have been appointed to be a cadet leader. Working as a team usually encounters common problems such as the existence of arguments within a group, but having gained such experience, I am now capable of settling down the problems and finding suitable solutions. Language Requirements For most companies, it requires job applicants to have good command of
Cantonese, English and Putonghua in order to deal with daily communication with some foreign or mainland colleagues and clients. Needless to say, as a local student, I have good written and spoken Chinese. For English, my written English is better than my spoken English. I am able to write some business letters because in Semester A, the English course provided us some training regarding some business language. My spoken English is not well-trained when I was in secondary school, therefore, sometimes I am not confident enough to speak English in front of the class.
My Putonghua ability is sufficient to handle daily communication. And my spoken Putonghua is not fluent enough. Good Interviewing Skills Excellence in interviewing skills can lead a great success in the job recruitment. Because interview is a direct time for employers to contact with employees. Sometimes, a few interviewees show their confusion and stress during the interview because they are lack of experience in talking to some partners or managers in the firms. Thanks to being an external secretary in the Accountancy Society, I have many chances to chat with partners from different accounting firms.
Although chatting with them will not lead to a direct advantage to my future career path, the experience I gained from communicating with them is under my belt. In the last semester, I participated in the mock interview workshop which was held by ACCA. This workshop equips students with relevant skills and tips in the job interview. And it provides us with practical interview so I have some experience in learning how to get well in interview. From the above learning experience, I can get to know more techniques regarding job interviews.
But there are rooms for improvement, such as the problem-solving skills and the quick response within the discussion. Professional Accounting Examinations To become a CPA (Certified Public Accountant), we have to finish many examination papers. Since I am studying Accounting, so some accounting papers are exempted. During secondary school, I have finished LCCI Level3. But still; there are many examination to complete if I want to become a CPA. (4)Develop an Action Plan Language Requirement University Putonghua course is not sufficient for me.
In Year 2 Semester B,I will take the professional workplace Putonghua Course organized by professional Putonghua Centre. The workplace Putonghua is far more practical than what we learn in school because the sentences it uses are familiar with our future career. After graduation, I will also take the Putonghua Proficiency Test. I will go to Sweden to exchange in Year 2 Semester This is a great and treasurable experience to improve my spoken English. English is nothing we can directly improve via taking different courses, it’s about our daily practice and communication to native speakers or foreigners instead. Interviewing Skills
Attending the mock interview workshop is one of the ways to get a better skill because there is only few chances for students to have real interviews with businessmen. The interview styles and requirements vary among different firms, so it is worth attending few workshops provided by different local firms. I can enhance my confidence and experience by practicing more during these three years. Sometimes, ACCA will organize some meeting sessions, I choose to take part in these kinds of events for the reason that we, students, are given opportunities to chat with some partners, human resources manager ,and we can ask them questions.
I find that it should be a good training for us to have this casual chats. At least, we will feel less-stressed in the future job interviews. Professional Accounting Examinations Although accounting major students can exempt some papers, there is a long way to go to become a CPA. I plan to take the QP (qualification programme) organized by HKICPA (Hong Kong Institute of Certified Public Accountants). It provides the knowledge and skills necessary to become a CPA. To be an auditor, we have to pass the Hong Kong practicing certificate examinations, but QP can help us to exempt all of the examinations from the above mentioned assessment.
Internship Experience Internship is quite a good experience in working in the real business atmosphere. In my Year 2 summer time, I will apply for summer internship in accounting firms. It’s the most practical chance to have a deeper glance at the accounting firm structure, types of works etc. If internship students have outstanding performance, it will probably increase the chance of being employed in the future. Reference Links http://en. wikipedia. org/wiki/Deloitte http://www. deloitte. com/view/en_GX/global/press/global-press-releases-en/78ed944968a7b210VgnVCM1000001956f00aRCRD. htm http://www. eloitte. com/view/en_LU/lu/industries/banking-securities/our-service-offering/advisory-consulting/strategy-operations/index. htm http://www. prnewswire. com/news-releases/deloitte-ranked-number-one-in-current-offering-strategy-and-market-presence-for-information-security-and-risk-consulting-services-102534709. html http://www. hkicpa. org. hk/en/become-a-hkicpa/qualification-programme/ End of Portfolio ———————– Deloitte’s London Headquarters Member Firm Member Firm Member Firm Member Firm Deloitte’s London Headquarters/Member Firms Financial Advisory Risk analysis Consulting Taxation Auditing
Deloitte’s London Headquarters Canada France Switzerland Italy Taiwan China Hong Kong Meet grade point basic requirement: at least 3. 0 Year1 Sem A’s results are not satisfied but it depend on three years ‘overall grading Curricular activities: St. John Cadets for 8 years Accountancy Society in University Teamwork and leadership qualities Meet language requirement Fluent Cantonese Written English is better than spoken English Interviewing Skills Attended interviewing workshop before Major in accountancy and it helps exempt some paper and completed LCCI exams in secondary school Excel in professional accounting examinations