Executive summary

Currently, business world is changed rapidly and it becomes new challenge for everyone. Therefore business leaders and corporate individuals should develop set of skills to gain competitive position in the market. This study is evaluated essential leadership skills which every good leader should have to effectively manage their teams. Based on that, Personal development plan has been developed within the report to achieve the future business goals. First it is identified strengths and weaknesses of me and personal develop plan is developed to rectify the weaknesses. Further this is developed detail action plan including specific time frame to achieve the specific goals in personal development. This personal development plan will help me to develop my leadership skills and entrepreneurial capabilities and it will help me to successfully face future challenges in next ten years.

1.0. Introduction

The objective of this report is develop a personal development plan (PDP) to improve the leadership qualities to achieve the long term professional and personal goals. Hotel and hospitality industry has improved drastically in Sri Lanka in last decade. Therefore there should be a strategic leadership to gain competitive position in the industry due to high competition. Currently I am a managing director of family own hotel located in Trincomalee. Within 10 year time, I need to develop this business to make hotel chain including another two hotels. Therefore I need to develop certain skills and competencies to achieve this goal. Even in personal life, it is important to having goals and objectives and they turn the vision into specific measurable targets (Abraham, 2012).
There are many theories to describe leadership qualities such as transformational leadership, visionary leadership, charismatic leadership etc. However generally there can be identified common traits such as empathy, consistency, visionary, communication, flexibility and dedication as common characteristics of good leader. I had leadership experience in my school time as a member of a school prefect however I don’t have any leadership experience in corporate life. It is identified as a risk directly join to manage a business without any corporate experience. Therefore in this study I expect to identify my development needs and develop personal development plan for next 10 years.