Chapter 5

Question 1

A_________is a paid position of regular employment. It is when a person performs some tasks for the organization in exchange for payment.

Answer 1

job

Question 2

_________________is a generalized word referred to as a number of jobs that are done with similar characteristics.

Answer 2

An occupation

Question 3

___________is a job requiring special training and formal qualifications

Answer 3

A profession

Question 4

__________ is a lifelong journey in which an individual learns skills, and use those skills with knowledge, and gain experience in a particular field or industry to earn money.

Answer 4

Career

Question 5

According to the Whom

“Career: Time extended working out of a purposeful life pattern through work undertaken by the person” (p. 6).

Answer 5

National Career Development Association:

Question 6

Time extended working out of a purposeful life pattern through work undertaken by the person”

Answer 6

Career:

Question 7

The relationship of employer-employee was characterized by an exchange of worker loyalty for the organization’s implicit promise of job security.

Answer 7

Traditional Concept of Career

Question 8

The vertically integrated hierarchical organizations provided the opportunity for advancement through promotion up the “corporate ladder”

Answer 8

Traditional Concept of Career

Question 9

The vertically integrated hierarchical organizations provided the opportunity for advancement through promotion up the

Answer 9

“corporate ladder”

Question 10

According to whom

“Protean Career”: “encompasses any kind of flexible, idiosyncratic career course, with peaks and valleys, left turns, moves from one line of work to another, and so forth.

Answer 10

Hall and Mirvas(1996):

Question 11

“encompasses any kind of flexible, idiosyncratic career course, with peaks and valleys, left turns, moves from one line of work to another, and so forth.

Answer 11

Protean Career”:

Question 12

–a sea god in Greek Mythology

Answer 12

PROTEUS GOD

Question 13

“flexible”, “adaptive”, and “changeable”.

Answer 13

Protean-

Question 14

The_________represents a new type of career contract in which careers are flexible, dynamic and managed by the individual instead of the organization

Answer 14

protean career

Question 15

It is a multi-stage process that needs to be thoroughly planned and executed to reap the desired benefits.

Answer 15

CAREER PLANNING

Question 16

it involves organizing your ideas and managing your time to make things happen in your future.

Answer 16

CAREER PLANNING

Question 17

What are the 4 KEY STEPS / STAGES in Career Planning?

Answer 17

1. SELF-AWARENESS
2. EXPLORING YOUR OPTIONS
3. DECISION-MAKING AND PLANNING
4. TAKING ACTION

Question 18

1. What things am I passionate about? (interests, hobbies, and advocacies)

Answer 18

SELF-AWARENESS: GET TO KNOW YOURSELF BETTER

Question 19

3. What skills would you like to learn or improve?

Answer 19

SELF-AWARENESS: GET TO KNOW YOURSELF BETTER

Question 20

2. Understand what you have to offer (Identifying your STRENGHTS)

Answer 20

SELF-AWARENESS: GET TO KNOW YOURSELF BETTER

Question 21

4. When it comes to workplace, what is important to me?

Answer 21

SELF-AWARENESS: GET TO KNOW YOURSELF BETTER

Question 22

5. What have I achieved already?

Answer 22

SELF-AWARENESS: GET TO KNOW YOURSELF BETTER

Question 23

: GET TO KNOW YOURSELF BETTER

Answer 23

SELF-AWARENESS:

Question 24

What options are available to you?

What do other graduates do?

Answer 24

EXPLORING YOUR OPTIONS

Question 25

CAREER OPPORTUNITIES FOR ECONOMICS GRADUATE

Answer 25

• Educator/ Instructor
• Researcher
• Business Journalist
• Entrepreneur
  Statistician
  Financial Adviser
  Market Research Analyst
  Financial Analyst
  Economic Consultants
  Credit Analyst
  Policy Analyst

Question 26

can work in nearly any industry, using statistical calculations to answer questions for both public and private organizations. Statisticians can work on projects such as risk management, increasing efficiency in business and more

Answer 26

Statisticians

Question 27

work with people to help them achieve certain short and long-term financial goals.

Answer 27

Personal financial advisors

Question 28

They assess individuals’ financial standing and help them make personal decisions on items such as savings, loans, stocks, insurance and other investments.

Answer 28

Personal financial advisors

Question 29

tap knowledge of industry trends to assess how products or services might fare under various economic conditions.

Answer 29

Market research analysts

Question 30

research companies, industries, stocks, bonds, and other investment vehicles for finance departments. Their analyses often require the advanced quantitative skills possessed by many economics majors

Answer 30

Financial analysts

Question 31

use analytical and research skills to carry out studies regarding economic scenarios.

Answer 31

Economic consultants

Question 32

They analyze industry trends to help organizations improve their performance. They might work for organizations in a variety of industries, including business, finance, healthcare, education, the government, and more

Answer 32

Economic consultants

Question 33

conduct microeconomic analyses of prospective clients to assess the risks involved with loaning funds to those people or businesses.

Answer 33

Credit analysts

Question 34

prepare reports summarizing their findings and suggest interest rates that are appropriate to clients’ risk profiles.

Answer 34

Credit analysts

Question 35

research and analyze issues that impact the public and recommend legislation and government intervention to address the problems. Economic knowledge is critical to understanding many of the issues and for creating affordable solutions.

Answer 35

Policy analysts

Question 36

• How are you going to achieve your goal (if you have decided what it is)?
• How will you fit this career planning into your schedule along with your studies and any other commitments you have?

Answer 36

DECISION MAKING AND PLANNING

Question 37

• Develop a list of career options by examining your interests, skills, and values through self- assessment. (1)
• Do your part in Opportunity search (2)

Answer 37

Identify your Career Options

Question 38

• skills, interest, and other considerations such as personal preferences (such as location/proximity, level of difficulty)
• Create a refined list

Answer 38

PRIORITIZE

Question 39

 What is the current demand for this field?
 If the demand is low or entry is difficult, are you comfortable with risk?
 What qualifications are required to enter the field?
 Will it require additional education or training?

Answer 39

CONSIDER OTHER FACTORS (EXTERNAL)

Question 40

Set ‘SMART’ goals

Answer 40

• Specific
• Measurable
• Attainable
• Relevant
• Time bound

Question 41

• Identify your goal clearly and specifically.

Answer 41

Specific –

Question 42

Include clear criteria to determine progress and accomplishment.

Answer 42

• Measurable –

Question 43

The goal should have a 50 percent or greater chance of success.

Answer 43

• Attainable –

Question 44

The goal is important and relevant to you.

Answer 44

• Relevant –

Question 45

Commit to a specific timeframe

Answer 45

• Time bound –

Question 46

is a life-long process of investing resources to accomplish your future career goals.

Answer 46

Career Management

Question 47

It is a continuing process that allows you to adapt to the changing demands of our dynamic economy.

Answer 47

Career Management

Question 48

It is the process by which individuals can make reasoned, appropriate decisions about their work life

Answer 48

Career Management:

Question 49

Career development as defined by the Whom “is the total constellation of psychological, sociological, educational, physical, economic, and chance factors that combine to influence the nature and significance of work in the total life span of any given individual” (Engels, 1994, p. 2).

Answer 49

American Counseling Association

Question 50

“is the total constellation of psychological, sociological, educational, physical, economic, and chance factors that combine to influence the nature and significance of work in the total life span of any given individual” (Engels, 1994, p. 2).

Answer 50

Career development

Question 51

is the lifelong process of managing learning, work, leisure, and transitions in order to move toward a personally determined and evolving preferred future.

Answer 51

Career Development