Wakas Ali Ahmed 2008 – 2009 Finance Industrial Trainee

1. Wakas Ali Ahmed2008 – 2009 Finance Industrial Trainee The Placement Experience Me

2. First Impressions… Whoooaaaaaa!

3. 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!!

4. 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

5. 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.

6. 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!

7. Volkswagen and the Recession • 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

8. 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

9. 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!!!

10. 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

11. 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

12. What I have most enjoyed 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?

13. What were my expectations for the year? Personal objectives for the placement year: Q1. CIMA vs. ACCA Q2. Accounting and Finance? Q3. Industry? Q4. Living away from home? A1. Undecided! A2. Looks like its the best choice A3. Might want to try something new A4. 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!

14. Any Questions? Thank you and Alvida!