A Study of International Business - Personal Statement Example

Actually, I had thought that it was sufficient to simply purchase stocks and sit back to let the money roll in by itself. Thus, at the time I did not have any concept of diversification or know about the importance of conducting initial research and risk assessment. In fact, I had never heard of these terms and did not think it was necessary to carry out such activities. Consequently, as you can imagine, I lost all my money from that experience. Fortunately, my parents were still financially supporting me, and I wasn’t responsible for a wife and children, car payments, or rent, etc.

I was grateful that I still had a roof over my head, but I felt like a complete fool. I vowed then and there not to let that happen to me again. I learned some very important lessons from the above-mentioned debacle, especially about greed. Slow, steady earnings that keep pace with your life are just fine. Investments that yield higher profits more quickly are nice but they are also inherently risky. Using the Madoff scandal as a model of what not to do as an investor, I know now that diversification of assets is essential.

Putting all your eggs in one basket so to say is never a wise practice in the world of investment. There are just too many uncontrollable and uncertain variables that could take down anyone's company or industry. I learned from my failures in investing. With a long career ahead of me, I can afford to take some risks, but should also focus on building a stable, long-term portfolio. On a much larger scale, this is the best time to be studying the failures of our economic systems and how we can build stronger, more secure ones for the future.

It is clear that having a comprehensive knowledge of the law is as important as studying business alone. It is also important to do business with trustworthy institutions and to do extensive preliminary research, such as through examining the company’s own as well as independent reports. In the past, we could rely on reputable brokerage firms, stockbrokers, and the advice of successful friends, but this is no longer an option, and calls for greater international regulatory and enforcement agencies have been getting louder.

International agencies like the World Trade Organization have accomplished a great deal in areas such as copyright infringement and counterfeit goods. Saudi Arabia has been a full member of the WTO since 2005, and I’d like to see them pave the way for future global regulation. It would be a source of great pride if I could be a part of that transition and contribute to making the world a safer place for investors at every level. A study of international business is essential to conducting business in the globalized village we now live in, as economies are no longer isolated.

Moreover, the worth of a DBA is very high. Having a doctorate will make me a much more effective and valuable employee. I am confident that the university’s DBA program is the right way to build my career, and at least in some small way, help create a better financial structure for future generations. In particular, I am prepared to enhance my understanding of global business operations, and learn the tools of applied research and engage in it effectively so that I could take advantage of it while investing in the future.

My existing course is Master of Science in Finance so the DBA will be an appropriate course for the continuation of my studies at the university.