1. Explain how the MIT Sloan MBA Program’s focus on innovation will help you achieve your career goals.
I always remember my deceased father always regretting his inability to make change. My father has taught me that even though you may be ahead of others by walking, you are still behind because the others are running. My late father managed the xxx Corporation. In 19xx, He was unable to promptly prepare for the new flow of westernization into Korea, such as the firm’s information system, westernization of employees’corporate culture; acknowledgement of the labor union, new classified customer’s appearance, and westernization of the manufacture. My father who had managed the firm for 30 years with dynamic effort was faced with bad luck. In the end, his corporation was to be dismissed. Along with his frustrations, he contributed his writings of thoughts to many places. His writings emphasized that a firm that has not gone through change is soon to be a firm that is bound to fail. My fate has always been to become a great businessman because ever since my childhood days, my father made incessant speeches concerning a businessman’s attitude. Before my father passed away, he left me a message saying, “the key to a firm’s survival is innovation.” I will treasure his words forever.
From my late father’s great influence, I decided to work for xxx upon graduation from undergraduate studies. While employed at xxx, I always kept in mind the possibilities of improvement and innovation of my work, the firm’s policies, and current organizational matters. I persuaded the managers and the top
executives, who were stuck on the concept of traditional decision-making procedures, face the need for innovation by accepting the labor union, through discussions and negotiations with my contributed efforts into increasing productivity. I also proposed for the ‘xxx Project’ with strategic intent to the CEO executives who were only satisfied with the fixed income of continuous OEM production. I was evaluated and complemented that the proposal not only brought great opportunities for the firm to exclusively create and develop the brand in itself, but a great opportunity for the firm to explore the foreign market. Thereafter, I made another initiative to improving on most of the enterprises, such as organizational downsizing, transferal of employees, reformation of authoritarianism in the management, adoption of the ERP system, and employee training for obtaining information, that xxx was after for a year and a half since 19xx. I performed these tasks heartily.
Although there were many problems and many who opposed my proposal for the firm’s innovation, xxx had a great common vision in terms of creating the firm’s brand in itself and in terms of exploring the foreign market for the first time in 20 years. When I left the company, there were many employees who were willing to face the changes in business environment more positively with greater future vision for the company. I strongly believe that innovation and creativity are valuable tools for the 21st century businessman. In order to survive in the business world, a firm should be able to change rapidly in accordance with the 21st century hi-tech information society of the Internet. If a firm cannot adjust under such circumstances of high-tech, the firm cannot survive. To become such a businessman who can quickly adapt to these changes, I chose Sloan. Sloan’s program will enable me to become a businessman who sees the importance of innovation and leadership in the business world. More importantly, I believe that Sloan will provide me with the kind of tool to propel forward in the field of strategic planning and marketing, organizational design and change management.
2. Describe a situation where you introduced and/or managed change in an organization. Tell us how you influenced others in an organization (business, school, extracurricular activity) and comment on the professional and/or personal attributes you used to do that and how these attributes (an others) might be important to the attainment of your career goals. How do you expect the Sloan School to further the development of these attributes?
The most significant improvement that I have made while employed at xxx was the ‘xxx Project’, which began in February of 19xx, to develop a strategic plan in order to become a global enterprise such as xxx or xxx. xxx that began to produce the xxx 21 years ago set up the project based on the traditional pattern of the OEM export. The director of xxx development who had worked for the company for over 9 years was negative in creating the company’s brand and the opinion of the majority was that such a project was too risky to produce a product in competition with global brands. Despite the negative opinions around me, I submitted the proposal for the xxx and I insisted that xxx create its’ own brand image and challenge the global market. Because x foreign companies, such as xxx and xxx hold over xx% of the domestic market up to 19xx, it would be impossible to create the company’s brand name and develop technology in the future if the product does not develop or if the company continues to develop the product based on the OEM system. There was also a possibility that even our occupied market in the domestic market would be deprived from those foreign companies.
Based on these facts, I insisted technology cooperation with xxx that boasts xx years of excellence, developing technology, creating distribution channels and subsidiaries in the industrialized countries including the U.S., and getting involved in the global market vigorously. My report brought on many debates about the feasibility and the investment outlook for 10 months of next-generation xxx development process. When the CEO executives supported my proposal, the firm decided to lay out the xxx development process for x years and take its’ brand abroad with a strategic intent. I learned that a talented businessman should have exact judgment with clear-cut resources and have clear vision for future development. One of the critical factors that led the firm to strategically compete in the global market was that my “xxx”for 4 months, was able to strike down all of the negative opinions with my specific data and detailed strategy. This experience has encouraged me to continue my studies in an American graduate school in order to learn more detailed analytical approach and gain the knowledge behind effective management strategy.
Sloan has all the important necessities to fulfill my needs. I strongly believe that Strategic Management and Consulting Track of Sloan have diverse resources for businessmen such as research and development, finance, human resource management, and marketing. These important resources will enable me to achieve my goal to becoming a CEO of a corporation. Program of Sloan provides both entrepreneurship and leadership. I strongly believe that Sloan is the best graduate school of business for me as well as future businessmen.
Cover letter
Since I had worked in the xxx department of xxx, whose yearly income was $xx million in 19xx, my major problem was a lack of knowledge in Finance and Management. Upon graduation from undergraduate studies, I was employed in the Management Planning Team. Because I did not have the background in business administration from majoring in xxx Literature in undergraduate, I realized the difficulty in grasping the concept of general company matters, marketing analysis, and setting up the short and long-term marketing plan. When I participated in the future development of xxx and sales project for 10 months that began in February 19xx, I realized that I was incapable of successfully performing my duties as an Assistant Manager with 8 staff members for a project in which the company heavily depended upon. It was then that I had realized what special talent was needed to become a successful manager. For instance, while analyzing xxx, xxx’s technological advantage and marketing strategies, I realized the importance of learning Marketing Research and Strategy. I also realized the importance of Financial Management and Corporate Financial Policies when planning sales and marketing strategies for the future sales of xxx and strategies for increasing our market.
Through these experiences, I became strongly motivated to applying to your college. If I am given the opportunity, I would like to study Corporate Finance and Financial Strategy. In my situation that I should come back to the xxx, and join the management team, without the knowledge of finance, I could not successfully manage the company and be an incompetent businessman. I would like to focus my studies on subjects relating to Entrepreneurship and Marketing. I believe that I am qualified to be competitive among your students because I have earned a certificate of Accounting and Finance,sponsored by the xxx. Along with this basic background, I am currently studying Finance as a graduate student at the xxx University Business School.
Sloan is top choice for two main reasons. First of all, Sloan offers diverse courses for a businessman who needs innovation and leadership that are not offered at the xxx University. Second reason is the many advantages that can be offered from the location of your school, with worldwide competitive corporations gathered in New York and Boston areas. Upon graduation from the Sloan School, I plan to be the most representative person at xxx by learning and applying the strategies of these large growing global corporations in East Coast area, and if possible I would like to analyze our competitors, xxx and xxx. I would also like to have experience with the U.S. market and its’ customer characteristics in preparation for future plan of xxx to set up xxx subsidiaries in U.S.
I plan to work for 5 years at xxx after graduation from Sloan, by improving xxx so that it will rank second to xxx. My long-term goal is to be able to challenge the CEO’s of the top 5 ranking companies in Korea, such as Hyundai of Korea. In addition, to achieve my goals, I plan to earn the CFA certification upon my MBA studies. Armed with the CFA certification and Top School’s International bent, strength in finance and management training, I will be ready to place that call to the trader in China, conduct a teleconference with xxx corporation in Tokyo, and visit the CFO in America.
