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MSc Economics and Strategy for Business Application Essay

MSc Economics and Strategy for Business Application Essay

  1. Please describe your short-term (3 years after completing your MSc) career goals.
  2. My internship in the summer of 2014 triggered my interest in the turnaround and restructuring industry, and after attending many discussions and conferences, I am sure it is what I would to like to do. Thus, after completing my MSc, I plan to work in a large turnaround and restructuring firm that gives professional assistance to companies. My first goal is to stay active and creative at all time to gain enough knowledge and experience so that I will be able to apply it to my field of work. For its achievement, I have already applied the summer internship program. During it, I will get over the experience of how to maintain relationships with clients and apply business strategies by working with the corporate business manager. My second goal is to develop economic proficiency in order to have a better understanding of markets and the effect of macro- and microeconomics on my work. Though Master’s degree gives a strong economic background, this goal can be fully achieved only through practice. I will work my best to thrive within the environment of a large company as working in it after graduation will help me achieve one of my long-term goals.

  3. Please outline the challenges you think you will face in achieving these career goals and how you will overcome them?
  4. With globalization, companies are faced with many challenges, from increased competition and fast technological changes to global economic instability. Moreover, working in the turnaround and restructuring sector is not limited to one-country clients. It can be challenging to deal with clients who have other cultural backgrounds. Luckily, the program provides me with the opportunity to work and study with international students that is very helpful to overcome distrust and better understand each other. With a focus on globalization and innovation, the program also addresses the major challenges in today’s business. Here, one expands their global networks and becomes aware of proper collaboration. Lack of experience and information is one more challenge in achieving my short-term career goals. Though I have already had some experience, I feel it is not enough. MSc Economics and Strategy for Business allows getting more advanced business skills and practicing them in different contexts. Hence, I will be able to apply these tools to real-life situations in my work and solve business problems that arise. By taking the course, I can make my understanding of economic analysis deeper and directly use it in business strategies and policies that are of considerable importance to my future job.

  5. Please describe your long-term career goals or, if these are not clear, please outline the industry sectors that are of particular interest to you and why.
  6. To run own business is my long-term career goal that will provide me with a deep sense of success. By this time, I have had a short organizing and learning experience in business operations. In the future, I would like to open a private equity or venture capital firm with an emphasis on health care and high-tech investments. Without any doubt, health care and high-tech investments are above the others. This growing industry is of particular interest to me as it can help a young talent materialize their ideas into sustainable projects. It offers products that are vital to the health of people and promises strong capital returns.

    Furthermore, I do not want to focus only on my business in the long term. I also would like to write a book about economics and create the theory that helps fully comprehend the mechanism behind economics. During the last years, substantial changes have been seen in the understanding of existing economic theories and development, producing the emergence of new ideas. I aim to be John Maynard Keynes of the 21st century and revolutionize the world of economics with a theory that is applicable to the modern world.

  7. What skills do you think are important in the career that interests you, how would you demonstrate that you have been developing these skills so far?
  8. First of all, the teamwork skill is essential for those who should cooperate with clients as well as co-workers in order to complete their work. I always listen to what others say and remain open to new ideas. With the aim of improving leadership abilities and communication skills, I took internships and led and organized numerous activities. For example, I led the team in Beirut, providing sponsorship and maintaining the relationship with artists and the media. I was in charge of a variety of projects at K2 Partners, ranging from a detailed study in the collection of private investor and financial databases to presenting an investor to a client. In 2014, I was among the organizers of a fundraising event who searched for sponsors to support the initiative that was finally successfully implemented. It helps me facilitate communication and emotional intelligence. Besides, I realized strategy and cooperation importance that has made me more organized.

    Second, analytical skills are crucial as well. I have developed good quantitative skills during my undergraduate study and practical analytical skills during the period of internship. For example, while doing group projects, I was several times responsible for researching and analyzing data. The program is likely to enhance my analytical skills. Last, time-management is a necessary skill as economists, managers, and entrepreneurs must cope with many tasks at once. Since I have always taken an active part in numerous sports and community activities that require a lot of time and efforts, I am able to learn quickly and can easily adapt to the environment around me and multitask at work. Learning to use time wisely, I will be able to complete duties effectively. I am sure that my time-management skills will assist me in adapting to the working environment quickly.

  9. Personal Statement.
  10. The reason for choosing MSc Economics and Strategy for Business is that I am passionately interested in economics and its applications in the everyday world. Economics is usually perceived as a discipline that is hard to grasp, and this program will contribute to my thirst for knowledge. In my opinion, if more people understood economics, businesses would run better. Accordingly, the program will be of benefit to everyone.

    During 2010 – 2012, I had taken part in the creation of B21 Management that is an event company. I led the team to organize events in Beirut, securing sponsorships and liaising with the media and artists. In the summer of 2014, I got an internship at K2 Partners, a turnaround and restructuring firm. I gained a great learning experience, shadowing the CEO in all his conferences, talks and meetings with clients. I was responsible for different projects, from thorough research to compile financial and private investor databases to preparing an investor presentation for a client.

    Throughout all my life, I have never been indifferent to the grief of others. This summer, our neighbor’s son was diagnosed with kidney failure and needed a transplant. His family was not able to pay for the operation. Thus, with the support of our families, my cousin and I decided to organize a fundraising event in order to help the neighbor’s family go through this ordeal. Our goal was raising the needed amount to cover the expenses of the party and making a large enough profit to cover the expenses of the operation in the shortest time possible. I was responsible for finding and convincing sponsors to support our initiative. I contacted banks, alcohol suppliers, corporations, shops, and artists to provide us either with an amount of money or prizes that could be used in a raffle. The main fund stream was an auction that was held in collaboration with young Lebanese artists, willing to offer their artworks for the cause. Even we could not get enough money to cover the whole expenses of the operation, we gave the family a substantial amount that was very helpful, and it is the most important. No matter how difficult it was for us as young adults to convince all of these entities to join us in our cause, the results and help we could provide to these acquaintances through the money we collected was the greatest achievement in my life. I have learned that one could always help if they wanted to do it.

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