Waseda University Business School Analysis - Admission/Application Essay Example

1. Please describe in detail the research plan which you wish to pursue at Waseda Business School, including the theme, approach, and methods etc. which you intend to use. The global business arena has evolved into a hypercompetitive environment posting a new set of opportunities and challenges for all business organizations. There is an increasing integration among markets facilitated by the establishment of free trade zones and unions, eradication of trade barriers, and evolution in information technology. These trends and developments in the global market encourage the inflow of foreign direct investments and allow business organizations to pursue market development and diversification strategies. The rapid industrialization of former developing nations like China, Brazil, and India posts huge opportunities for firms pursuing growth strategies. In recognition of these essential factors which are continuously driving the business arena and in consideration for my passion in investment, I would like to pursue a research which focuses in decision making for overseas investment. Specifically, I would like to design a research which ascertains the feasibility and profitability of opening a Korean car manufacturing firm in China. It should be noted economic growth in the near future is expected to come mostly from the Asia Pacific region especially from China. Furthermore, China is seen to become the largest market for automobile by 2010 with the continuous increase in disposable income and the development of infrastructure. The research will be utilizing both qualitative and quantitative approaches. These two approaches are seen to complement each other. Qualitative approach will deal with the important issues faced in market entry strategy such as the mode of entry, social factors to consider, consumer preferences, competitive landscape analysis, internal analysis, and trend analysis. In order to facilitate this qualitative analysis, I will be employing semi-structured interview as the research methodology which allows participants to ask and receive information. I hope to interview executives from the three Japanese global automakers such as Nissan, Toyota, and Honda to gain essential insights from their operational experiences in China. I also hope to interview Chinese executives in the local auto industry to learn the key success factors and drivers in China. However, the literature review will also necessitate the use of secondary data to be sourced from books, magazines, journals, and the world wide web. I will to strengthen these details by quantitative analysis dealing with the profitability of the overseas investment through the use of capital budgeting tools such as Net Present Value, Internal Rate of Return, Discounted Payback Period, and other techniques to evaluate investment profitability during my stay at Waseda Business School. Cash flows will be generated through projections in demand, sales, and expenses. 2. Please explain the reasons why you have chosen to apply to the WBS at this particular time in your life. I strongly believe that for an individual, the learning process is from womb to tomb. My application to the WBS at this particular time in my life shows my passion for learning and recognition of my need to be geared with the adequate knowledge and experience in pursuing my career advancement. As a modern woman, I recognize the need to further my strengths and competencies in order to efficiently do my part in the achievement of organizational goals. Aside from my this motivation, I believe that I already satisfy the basic requirement of pursuing an MBA, that is, having an insight on different management theories through my college education and having an experience on how these theories are applied in the real corporate world through my experience as an in the management and planning team of Hanmi Pharmaceutical. Furthermore, I choose to pursue my master's degree at WBS because I believe that at this point, I am already imbued with the strength and courage required to live in a foreign land and deal with people with a different culture. I have already overcome my idealistic nature and am more open and appreciative of foreign ideas and insight. Lastly, I can now support my schooling as I am more financially independent. 3. Please describe your career goals in detail. How do you plan to achieve them What significance will your experience at WBS have in helping to achieve your career goals In general, I would like to utilize my knowledge and skills acquired from my disciplines and experiences for the achievement of the achievement of the goals and objectives of the business organization. My passion is on setting the strategic direction that the company will take. Thus, my career path will focus on strategic management and planning. After getting my MBA from WBS, I hope to return to Korea and be employed as a Corporate Planning Specialist and later, Corporate Planning Analyst. It is my utmost goal to become the President of a business organization. Obtaining an MBA from WBS is one of the primary steps that I will take in order to achieve this goals. I believe that this institution will furnish me with the knowledge required for the realization of my career goals. Being in the country of successful Japanese firms, I will feel honored to be in one of the institutions which have shaped many prominent business leaders. In WBS, I hope to be provided with case studies documenting the secrets which ushered Japanese firms to triumph. I believe that my interaction my teachers, classmates, and business figures in WBS will mold me into a better individual imbued with the qualities and traits needed to lead a business organization. 4. Competencies and capability that are required to become an outstanding CEO. In this evolving hypercompetitive business environment, it is irrefutable that CEOs need to posses competencies and capabilities which are quite different from what is traditionally required in order to ensure the success or even mere survival for a company. I believe that CEOs have a very essential and critical role in a business organization as they he or she is the major driving force which propels the organization to its expected end. An outstanding CEO should also be able to maintain his good image by maintaining rapport with various stakeholders. First, the CEO should have the charisma in order to influence and motivate the workforce in achieving organizational goals. The CEO should also pursue mutually beneficial relationship with the company's investors. He or she should also be able to manage relationships with media, customers, and the public. In this increasingly technology driven business environment, an outstanding CEO is seen to be someone who has an extensive knowledge of the innovative technologies in the market which can be used in order to cut production costs, boost efficiency, or even improve administrative processes. An outstanding CEO should always be open to technological innovation and change, considering it as an essential tool in improving operations. Recognizing that companies are seeking more opportunities in other foreign geographical regions, a CEO should have an international or global experience. Exposure to other markets will be imperative especially when evaluating growth opportunities in other countries. International experience instills a CEO with the essential flexibility, open-mindedness, and adaptation needed in order for the company to operate profitably in a foreign market. An outstanding CEO should also have a good financial insight. It is irrefutable that one of the measures of the ability to manage a firm is profitability and maximization of shareholder value. An outstanding CEO is someone which knows how to handle the financial aspects of the company through an efficient management of costs and investment in profitable projects. He or she should know the value of the company's assets as well as how to utilize and maximize these resources. I believe that outstanding CEOs are not risk-averse. In contrast, CEOs should be always be optimistic and are ready to take calculated risks. An outstanding CEO should not only have an internal but also an external focus. Much of the changes in the business structure and models are notably from external factors. A CEO should be keen on identifying the changes in the external environment which have strong impacts on operations. Lack of external focus can caught CEOs off guard and will also lead to lack of strategic response to opportunities and threats. It is imperative that a CEO should posses a solid record of ethical behavior. A CEO should not only be able to captivate and succeed in the business world because of his leadership skills but should also earn the approval of the public with his set of good values. A CEO should be patient, hardworking, honest, credible, and sensitive to other people's needs. He or she should also be a good example of moral excellence by pursuing the interests of company above his own. An outstanding CEO should be an excellent communicator. He or she should be articulate in speaking about the company's products, directions, strategies, and policies. It is irrefutable that delivery of messages far outweighs the message to be delivered. It is important that a CEO knows how to efficiently speak for the organization regarding important issues. The outstanding CEO is a person who is capable of dealing with change. In the business arena, markets and costumer preferences continuously change and so must a business organization. However, the strength of the CEO should be highlighted with how he prepares and ushers the company for the numerous transitions within his term. I believe that the most important trait of an outstanding CEO is his capability to balance strategic vision and operating experience. It should be noted that business leaders have two essential tasks in taking the company forward-strategy creation and strategy execution. CEOs should be able to provide a good strategic vision for the organization but should also be adept in putting the strategy into action. Good strategies are worthless unless efficiently implemented at the same time that good execution is ineffectual if the company's strategies are mediocre. These two should always go hand in hand and complement each other. Read More