Wakas Ali Ahmed

2008 – 2009 Finance Industrial Trainee

The Placement Experience

Me

First Impressions…

Whoooaaaaaa!

First Impressions

• Sensational place to work

• Serious about innovation

• Standing out from the crowd

• Multi-cultural workplace

• Very relaxed working environment

• Huge Restaurant Canteen

•Emphasis a relaxed friendly culture

• Showrooms with the R8!!

VW Industry Sector

Automotive Industry – Sell Cars Main Competitors:- BMW, Mercedez Benz,

Vauxhall, Ford In the past year the whole industry has been

affected by the credit crunch Led to customers being more conscientious on

buying a new car Potential Customers would rather buy a used

vehicle instead

Industry Competition

On a Global Scale, Toyota is the biggest competitor to VW, and the only one that is more successful

Within the UK however, the main competitors are Mercedes Benz, BMW, Ford, and Vauxhall.

Mercedes, BMW and Volvo head offices also situated in Milton Keynes, resulting in continuous communication with them and also some friendly sporting competition!!

VW seek to become the leading automotive organisation within the industry by 2018.

VW Products/ Services

VW sell all types of vehicles ranging from Saloon, 4x4, city runners, Sports Cars, Prestige Cars, Family Hatchback etc etc

Take part in Formula 3, as well as the 24hour Endurances races which they have been champions for the past 5 years.

Although vehicles release a lot of CO emissions, VW are always looking for ways to reduce this through innovation, e.g. Blue motion technology, stop start technology, major player in recycling

Introducing a vehicle that runs on battery Customers needs are the first priority

“Give the customer what they want, rather than giving the customer what we think they should have”

Head Office itself doesn’t offer any products. They offer a service to the Head Office in Germany collating all the types of data such as national sales, turnover, operation profit, balance sheet figures, stock counts etc.

VW AG head office in Germany relies on VW UK head office to keep a continuous flow of communication about any latest developments, strategies, and problems.

Successful at this!

Volkswagen and the

Tough times through the credit crunch Automotive Industry hit one of the hardest! Recession = Redundancies The way they dealt with redundancies was very “cut

throat” Motivation at an all time low Time for management to rescue the sinking boat Management played their part in getting through Recession allowed the remainder to become a tighter

collective, with renewed ambition to get through these tough times with as little damage as possible

Recession

Career Opportunities

Always looking to employ graduates Whilst my time, VW re-employed 4 of their previous “placement

students” on a full time job. Also employed 4 graduates Don’t offer a graduate scheme However as seen above, are more than willing to employ

students who have just graduated and have very little experience A culture of continuous improvement is emphasised This can be seen with a lot of the workers being paid to continue

studies into CIMA, ACCA and other types of certifications. There are chances for progression within the firm

Ideal Employer

As mentioned earlier, VW do take on a lot of graduates based on competencies, work experience, academic achievements and the individuals personality

Academically a suitable business related degree with a minimum of a 2:1 classification or above

260+ UCAS points and 6+ GCSE’s including Maths and English Prior experience is preferable A decent background knowledge of the industry sector and the company

is vital A friendly personality is likened, and the candidate is judged on whether

the personality would fit the team, department and the culture of the workplace

Should demonstrate a wide range of competencies.....this is the most important aspect!!!

Competencies!!

A great Communicator Is able to work well within a team Yet also be competent in dealing with reports on an individual

basis A motivated and enthusiastic individual who demonstrates the

ambition and drive to continually exceed expectations Confident Someone who is committed to this career Trustworthy Work well under pressure Doesn't shy away from taking responsibilities

What have I learnt here

Developed my accounting skills Improved Double Entry bookkeeping Put my academic knowledge into practice Using various Management Information Systems Accounting terms and treatment Working under continuous pressure and increased responsibility Excel Wizardry Organising time and tasks, hence improving my time

management Working as part of a team Understanding one another Patience Improved my communication skills Felt as though I finally grew up

What I Most Enjoyed

Excel Wizardry - learning shortcuts (Alt D+F+F)

Seeing how my input made a difference to VW

Perks such as Company Cars and a business trip to Germany!

What I least Enjoyed

Closing, Opening and then Finally Closing accounts …!!!

Made to feel as if student’s are the lowest level of the pecking order …whereas students will one day become the leaders of tomorrow

A little more respect won’t hurt anyone and will go a long way!

The management style to a certain extent – constant supervision, whilst useful – not always essential.

Samosas for £1? Half a Naan Bread for £1?

What I have most enjoyed

What were my expectations for the year?

Personal objectives for the placement year:

Q1. CIMA vs. ACCAQ2. Accounting and Finance?Q3. Industry?Q4. Living away from home?

A1. Undecided!A2. Looks like its the best choiceA3. Might want to try something newA4. Definitely Not!

Conclusion 1:Definitely want to continue to be an accountant, and enjoyed working

within this industry, but I wouldn't mind trying a new sector.

Conclusion 2:See the world (or as much of it as financially possible) before I become part

of the system!

Any Questions?

Thank you and Alvida!