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Personal statement
My career began much like that of a 'sword-swallower' at the circus. Wells Fargo's recent hostile takeover of First Interstate Bank significantly disrupted service and caused system-related errors. Our customers were hopping mad, and they let us know it. As a Customer Service Representative for the bank, I was performing in the center ring. Fortunately for me, this highly volatile situation gave me my first opportunity to take initiative and assume leadership for Wells Fargo. I developed a team of customer service representatives to address the most common - and the toughest - customer questions and complaints by creating a set of uniform responses and methods for resolving the various issues. This initiative blossomed into a series of rapid promotions from Trust Service Representative to Associate Portfolio Manager, and then Portfolio Manager 1 and later Assistant Vice President. At this stage, I showcased my analytical skills by taking on the lead analyst role for the Entertainment and Media industry and consequently made one of my largest contributions to Wells Fargo. Following Disney's ongoing weakness within certain operating divisions, I downgraded the company to a hold. That is when the 'fun' began. I received heated phone calls and a great deal of pressure from more senior portfolio managers to reverse my recommendation. They saw the situation differently, but confident in my analysis of the company's performance, I stuck by my decision. Disney's subsequent decline enabled Wells Fargo portfolio managers to avoid massive losses on a total position with the bank of more than $5 million. My 'sword swallowing' skills had been tested, only to earn a standing ovation! Building upon my prior achievements, I gained my first formal leadership experience as Team Leader of a five-member individual issues group. In this position, I have negotiated interdepartmental employee conflicts, implemented new initiatives to improve team morale and set stretch goals and rallied the team to exceed them. As much as I have enjoyed my career with Wells Fargo, I realize that investment research and stock-picking are my true passions. Whether it's engulfing myself in the analytical challenge of thoroughly researching a company or industry, scrambling madly in reaction to breaking market news or riding the roller-coaster of risking capital and executing trades, I have found my calling. This industry and lifestyle has sucked me in and grabbed a hold of my very soul. Through my experiences, training and education to date, I have developed an iron-clad belief that investor capital is best utilized in an international hedge environment, where the utilities of risk and return can be maximized. Long term, I intend to build an international hedge fund that puts this strategy to work on a global scale. By developing and leading a team of specialized and highly-skilled experts in fields such as trading, international corporate accounting and both quantitative and qualitative research, I will build the intellectual resources and expertise to successfully execute my hedge strategy for institutional investors. I passionately believe that the future of institutional asset management relies on this method of investing, and my international hedge fund will be out in front of this new, cutting-edge (essential for a 'sword-swallower' like me) industry. Prior to launching this fund, however, I will need to acquire a firmer grasp of managing international assets for institutional investors, rather than private clients. After graduating from business school, I plan to work for a top-tier firm such as Fidelity Investments or the Vanguard Group to learn the fundamentals of international investment management. An MBA education is critical for me at this juncture. To achieve my goals, I must continue to develop an intellectual yet actionable understanding of the intricacies, operations and global strategies of companies at a level that exceeds my future competition. A top MBA will provide me with the foundation for this level of business acumen, broadening and enlightening my perspective on the rapidly evolving global business environment. It will also allow me to develop a network of friendships and allies that will be essential to launching an international hedge fund. Kenan-Flagler offers not only a well-rounded, world-class business education but also the ideal concentration in Investment Management that I seek. This focus will provide me with a level of breadth and depth of the investment management industry unmatched by other top business schools. Additionally, Kenan-Flagler's Investment Club will permit me to hone my skills by managing real money, without any micro-management from the wings. My conversations with Professor Jennifer Conrad, Investment Management Concentration Advisory Board member Gregg Ireland and students such as Travis Robins have reinforced and solidified my burning desire to be a part of this club. Finally, my visit to Kenan-Flagler in April of this year allowed me to meet faculty and representative students who impressed me with both accomplishments and attitudes. These bright, dynamic, good-natured people are exactly the type of individuals whom I want in and around my future, industry-leading international hedge fund team. They are the mentors, peers and colleagues with whom I hope to develop life-long relationships. When one is a 'sword-swallower', trusting those closest to you is very, very important.
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Past Experience, Future goals and Why Johnson.
Whether it's immersing myself in the analytical challenge of researching a company or industry, scrambling to capitalize on late-breaking market news or riding the roller-coaster of risking capital and executing trades, I have found my calling- investment research and stock-picking. Long term, I intend to build an international hedge fund that maximizes the utilities of risk and return on a global scale. By developing and leading a team of specialized and highly-skilled experts in key financial fields, I will build the intellectual resources and expertise to successfully execute my hedge strategy for institutional investors. Prior to launching this fund, I will need to acquire a firmer grasp on managing international assets. After graduating from business school, I plan to work for a top-tier firm such as Barclays Global Investors or BlackRock Financial Management to learn the fundamentals of international investment management. A rigorous MBA education is critical for me at this juncture. I must continue to develop a theoretical yet actionable understanding of the intricacies, operations and global strategies of companies at a level that exceeds my future competition. A top MBA will broaden and elevate my perspective on the rapidly evolving global business environment. It will also allow me to develop a network of friends and allies essential to launching an international hedge fund. The Johnson School offers not only a well-rounded, world-class business education, but also the ideal immersion in Research, Sales and Trading that I seek. The practical application and focus on research and asset management offered by this course would provide me with a level of breadth and depth of the investment management industry unmatched by other top business schools. Additionally, election to the Cayuga MBA Fund would allow me to participate in managing real money alongside a group of dynamic peers and under the brilliant guidance of Professors Lee and Swaminathan. My conversations with current students such as Michael Fishkin, David Weinstein and Lisa Wright, as well as alumna Sandra Draper, have only reinforced and solidified my burning desire to play a key role in managing the fund. Finally, my visit to the Johnson School in April of 2003 allowed me to meet faculty and students who consistently impressed me with their accomplishments, passion and ideas. These bright, engaging and energized people are exactly the type of individuals with whom I want to refine and pursue my goals. They represent the mentors, peers and colleagues with whom I hope to develop life-long relationships.
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Leadership
Effective leadership encompasses vision, anticipation and inspiration. It demands insight, team-building, ethical grounding and the willingness to make difficult decisions. This is both my definition of leadership and the foundation for my greatest professional achievement as a leader. Just prior to my promotion to Team Leader of the Individual Issues Team at Wells Fargo Private Client Services, our division was beginning a major restructuring. Unfortunately, the reorganization quickly had a negative effect on the direction and morale of my team members. It was under these circumstances that I stepped forward to add value to my team, my division and the Wells Fargo organization. Specifically, I orchestrated the implementation of a series of new policies and procedures. In doing so, I replaced the team's negative morale with focused enthusiasm for the company's new vision. I began by enhancing communication at off-site team meetings by establishing an 'open forum' environment. My approach encouraged candid questions, frank discussions and shared understanding of the policy and procedural changes about to unfold. I used these meetings to candidly articulate the company's vision in a setting free from interruptions and intrusions. Earning the group's buy in, I then assigned discrete tasks based on my assessment of strengths and weaknesses. This instilled a strong sense of ownership and accountability. In addition, I held one-on-one sessions with each member to help them better define and clarify their individual goals. I assessed the needs of each individual and made sure that he received the critical resources to be effective. Together, we devised and outlined action plans to achieve success. For example, one of my teammates expressed a strong interest in analyzing fixed-income investments. So, I put him in contact with several of our senior portfolio managers and worked with them to facilitate landing him a position on Wells Fargo's Fixed Income Team as an analyst - a win/win outcome! I believe that the best leaders lead by example. Therefore, I influenced my team and added value to the organization by serving as a beacon for quality and ethics. I modeled professionalism in my own performance by thoroughly researching investment decisions and managing money with the client's best interests in mind. Committed to doing my best, I have exceeded the goals set for myself and thus encouraged teammates to do the same. Leaders look to the future. My decision to leave a promising career track with Wells Fargo to attend the Johnson School confirms my desire to lead on an even higher plane.
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Which of UNC Kenan-Flagler's core values - excellence, leadership, integrity, community or teamwork - has been most important in your career development to date? How do you expect this value to contribute to your future development? (major: two pages maximum)
How about the Spice Girls?' asked Shaun, the forty-something creative director? 'Only if you want to sell hair color to 14 year olds,' I groaned. 'How about Amanda Peet? You know, the girl from Jack & Jill? She has two new movies coming out next year, had fourteen press mentions in the last twelve months in People Magazine, and is appropriate to the twenty-something target.' 'Her consumer appeal wasn't very high,' responded Sarah, my colleague. 'What do you think of Heidi Klum?' We pondered as we continued to flip through magazines, trying to pinpoint the right celebrity to launch Lumia, the new haircolor from Laboratoires Garnier, due out the following year. With $35 million in media on the line, we couldn't afford to be wrong. While consumer research and quantitative surveys would play a large part in our decision, we also relied heavily on each other for input and ideas. While all of UNC Kenan-Flagler's core values have played a role in my career development to date, teamwork has been, without a question, the most important. Advertising, as a field, is extremely group oriented. This manifests itself in two ways. First, communications is about ideas, about creativity, and about understanding a consumer. These ideas are not formed by individuals, but by individuals working together. It is created by bouncing thoughts off other people, by discussing options, by working together to come to a solution. Whether choosing a celebrity spokesperson, finessing ideas for the Siemens corporate communications pitch, or developing new hair-color product ideas to pitch to our Client, the results of individuals working together has always been of utmost importance. In a different, but equally important manner, the very nature of account management is about managing teams: media, creative, client, and production, each with different personalities, interests, and agendas. As an Account Manager, I have learned to take different roles within any team: to be a listener, to be a leader, and to resolve conflict. In some instances this is convincing an Art Director that his work, while creatively valuable, does not address the marketing needs of the Client. In other instances, it is simply to play a mediating role between a creative and a producer. Since working in Paris, the definition of teamwork has taken on a new dimension for me. Not only is the concept still important, but also it now encompasses an added perspective. I work within a team of ten people representing seven different nationalities. Each of these members has a different educational background, a unique cultural upbringing, and brings a distinctive manner of working to the job. People clash because they don't necessarily mean or understand the same things. In a broader sense, I also work within a global team: the one representing the Publicis Agencies worldwide. While perhaps more of a virtual team, the elements essential to teamwork are still apparent. When Publicis Russia felt some negative sentiment coming from their Client recently, they quickly called upon the worldwide ice cream team to lend their support and help address the issues. Last winter, I had the opportunity to attend a proximity marketing seminar in Egypt. For three days, my supervisor, my Clients, and myself worked alongside representatives from different markets to analyze and improve in-store visibility for our product. Despite differences in culture, work habits, and basic market conditions, we came together as a group to address issues common to all. This month I will once more test these skills when I go to Beirut to lead a photography shoot for the Middle Eastern region. I expect teamwork will remain an important value to me as I continue to construct my career. In the same way it has been key to my development to date, it is a concept that will be equally invaluable in global brand management.
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Discuss your career goals. What skills do you expect to gain from studying for an MBA and how will they contribute to your professional career? (major essay). This was written for an MBA program.
I plan to develop a career in international brand management within consumer product companies. Working in advertising has provided me with a first-hand view into life on the Client side. L'Orial especially included their agencies in many of the processes not traditionally considered 'advertising,' sharing their marketing plans and consulting with us on new product concepts. Communications is an important building block for brand development, and my experience to-date will no doubt provide me an advantage. Since working on the Nestli Central Team, I have been exposed to the heart of strategic communications. Because we are removed from day-to-day market issues and short-term profit considerations, we focus on the big picture. Working with top-level clients and Publicis managers, I have learned how to develop a durable brand positioning, how to connect with the consumer, and how to develop a total communications plan. However, I wish to be a part of the larger picture. I am currently working on a project to improve in-store communication for bottled water. Although my input pertains to the medium and the message, the work is to a certain extent incomplete. Without understanding key account negotiations and the functioning of the sales force, I am unable to propose a realistic implementation plan. While we are hired as communications experts, I am interested in managing a brand in its entirety. I also wish to work in a more analytical field. While I initially chose advertising for the creative aspect, my strength lies in business, and I would like utilize more 'hard' skills. Communication is highly strategic, but based on creative intuition. While I appreciate creativity, and will certainly need to understand it as a brand manager, I am a businesswoman at heart. Working internationally and on global projects is important to me. I took the position in Paris in order to realize my dream of working in France for a few years and to gain some international experience before pursuing my MBA. Instead, my career direction changed. I have learned the importance of understanding the global marketplace. A sound business plan is ineffective if it does not take into account how the local consumer thinks; likewise, the executive must comprehend how a company functions in another culture. To operate in the international arena, it is vital to arrive at a balance between international necessities and local realities. This is the ideal school for me because it provides a global management education. While other top programs can provide the marketing skills, the general management focus, and the access to high-level faculty and business people, only this MBA program provides a true international education. Furthermore, the graduates land internationally focused positions worldwide, not only at conglomerates such as LOrial, but also expanding companies such as Nars Cosmetics. Globalism has become a catchword, and international opportunities are becoming more and more prevalent at MBA programs today. While I think these have merit and would certainly take advantage of all offerings at another school, only this MBA program truly infuses globalism throughout the curriculum. I recently had the opportunity to visit the school and sit in on a class, and felt the same vibe as at an international seminar for Nestli. No one culture is prevalent; nobody is providing the international viewpoint. The education was truly global.
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What past decisions have you made that contribute to your current decision to pursue an MBA? How will joining the MBA program at our school at this time in your career further your short and long-term career goals?
My past decisions to pursue an undergraduate Finance degree, accept a Management Trainee position with XXX Corporation, and then transfer into the Audit & Advisory Services department have led me towards the decision to earn an MBA. From preparing draft expenditure approvals as a Management Trainee to analyzing expenditure justifications as an auditor, I broadened my experience in analyzing investment options and furthered my interest in financial analysis and strategic investments. Therefore, after graduating from the MBA program, I want to work as a financial analyst for a multinational firm with a strategic planning group. In the long term, my objective is to secure a management position in that strategic planning group so that I can analyze current and future investments. Since strategic planning departments are often small groups with employees experienced in the company and industry, I want to first build my experience as a financial analyst. To that role, I will bring my internal audit experience in identifying financial anomalies and proposing management solutions. For example, during a recent audit in the Netherlands I identified an inconsistency in the financial consolidation process which skewed the revenue and expenses reported to the parent company. Additionally, my BBA in Finance and technical audit knowledge provide me with strong analytical skills to build upon. An MBA program will allow me to broaden my Finance knowledge as I study specialized, complex financial topics like currency hedging and global financial policy. A functional knowledge of such topics will be valuable as I evaluate international investment and financing options in my future career. Specifically, this school offers an ideal location in which to study Finance, a strong Finance curriculum, and the flexibility to tailor my areas of specialization to meet my short and long term goals. Sterns global curriculum, including its Global Business and International Finance specializations, will also enhance my international business perspective. I have been fortunate to study and work abroad throughout Asia, Europe, and South America. While overseas, I have enjoyed learning about local business environments, including the impact of social benefit requirements, political structure, and labor laws on terminal investments. Based on these interests, I want to strengthen my knowledge of global markets and their implications to worldwide business practices, supporting my goal of a multinational career. In order to meet my long-term career objective in strategic management, I want to pursue strategy and negotiation courses. Courses such as Game Theory & Business Strategy relate to the aspects of my professional experience that interest me most, but in which I lack a powerful analytical toolkit and formalized training. Taking strategy courses and relating these concepts back to core fundamentals and advanced Finance courses will allow me to develop a sophisticated skill set with which I can evaluate existing and potential alliances as well as other investment opportunities. Concurrently, I will enjoy sharing my strategic planning experiences from the maritime shipping and terminal management perspective with classmates and professors. For example, I assisted the International Strategic Planning Director with due diligence related to a container terminal in Poland. I evaluated the due diligence team's findings and pointed out potential problem areas with the investment, affording me with invaluable insight into due diligence procedures. Moreover, I will bring my audit experience in identifying investment risks and achieving management buy-in of my conclusions and recommendations. In addition, a primary reason for me to pursue an MBA degree now is to formally educate myself in management skills. I joined XXX Corporation's Management Trainee Program out of college and then moved into Audit & Advisory Services. My decisions to accept these positions were, in large, due to their high profile natures, the ability to provide recommendations to management, and the opportunities to gain a unique breadth of company knowledge while working with employees worldwide. I was promoted earlier than the standard timeframe allots, progressing from Trainee to Senior Auditor in less than two years and quickly finding myself in a leadership role. Although I will continue to grow as a leader with my upcoming promotion to Project Supervisor, a management education will increase my effectiveness as a supervisor and, eventually, as a manager. In conclusion, my past academic and career decisions have allowed me to develop my interests and experience in the financial and strategic analysis of global investment opportunities. An MBA will provide me with the advanced analytical toolkit, formal management education, and strategy courses that I currently lack, but which are necessary to meet my long term goal and will make me a more competitive candidate for my short-term goal.
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You have recently been brought in by the CEO of your company to act as the new project lead for a high profile team charged with bringing a new product to market. The team has become dysfunctional and risks missing the project deadline. How will you go about turning the situation around? You have one month to make the deadline.
As I walked into the Road Runner, Inc. headquarters lobby, I was fascinated by the amazing product displays in the showcases. Road Runner had over 100 athletic shoes, all introduced within the last year, on display; it was not surprising that Road Runner had 50% of the world's market share. Just three days ago, I accepted a position to lead a three-person product team due to launch the 'Sky' product, which was predicted to be highest revenue-generating basketball shoe in Road Runner's history. Unfortunately, this product team was in danger of missing the product launch date. That morning, I called a team meeting at 9:00 a.m. The three-member 'Sky' product launch team was made up of the following people: Stacey, the Operations Manager; Michelle, the Marketing Manager; and John, the Project Manager. The entire team did not show up until 9:30 a.m. Nevertheless, I wanted to get to know the team members and understand what their issues were. After an hour of discussion, I soon came to find that Stacey was very controlling - she dominated most of the discussion and pointed out everything that was wrong with Michelle and John's areas. Michelle, on the other hand, was hardly as vocal as Stacey. When Michelle did speak, she seemed to demonstrate her lack of trust that Operations would deliver. John explained the reasons for why the project was behind schedule - indecisiveness on Operations' part thus resulting in several missed milestones. It was clear to me that this team was not communicating. They were not focused on the goal; they were focused on whom they could blame. They did not have the traits of a strong team - leadership, direction, control, and trust. The first step in my plan to 'save' this team and product launch was to take the team on a five-hour hike in the nearby mountains. We took a medium-skilled hiking path - one that I knew would challenge these novice hikers. They had to communicate in order to get the team around rocks and trees. They had to trust the navigator to lead them down the right path. They had to let one of the team members lead while the others followed. When we reached the summit after two and a half hours, we all shared a sense of accomplishment and relief. In the next week, I sat down with each team member individually. I listened to their concerns, asked them what they needed to meet the deadline, and asked them how I could help. I also reiterated the end goal and tried to motivate each of them based on their individual needs. All concerns were noted and were addressed in the next team meeting. We established ground rules at the next team meeting. I let the team develop their own ground rules, so as to allow them to buy in and abide to their own rules. We then discussed what we, as a team, needed to do to meet the looming product launch date and we developed a project plan to get there. We decided to hold a daily meeting to track project status and to address issues with a sense of urgency. If issues could not be resolved, they were escalated to the Executive Steering Committee for quick resolution. What seemed to be a daunting task in the beginning ended in resounding success. The team members rose to the occasion and began to communicate, became focused on the task, and learned to trust each other. They had new direction and purpose and met the launch date. No one would have ever guessed that unprecedented sales of the 'Sky' basketball shoe were preceded by internal company turmoil. Great job, team!
