essay on business foundation

How to Write a Business Essay: an Ultimate Guide

Table of Contents

Writing an essay can be boring. A lot of essays are basically the same thing over and over again. You write an introduction, then you write your supporting paragraphs, and then you create a conclusion. Overall, the process is not a lot of fun, and you can often feel as though you are simply going through the motions for the sake of churning out extra work. But since you have to write an essay, it’s worth considering the many ways that you can make the process faster and easier. In this ultimate guide, we’ll discuss the best way to write a business essay so you can get through the process faster and with relatively little trouble.

It might seem obvious, but the first thing you need to do when you write an essay is to read the essay question. You need to be sure you understand each part of the essay question and how the parts of the question work together. You would be surprised how many students only glance at the question and then write a paper that only partially addresses the assignment. You don’t want to lose points because part of your paper isn’t on topic. If you find any parts of the paper that you don’t understand or that require explanation, be sure to contact your instructor for clarification before you start writing.

Read the essay rubric

These days, most essays have a grading rubric included with the question. A grading rubric is like a cheat sheet for writing your essay. When you review the essay rubric, you’ll see exactly how your instructor will grade your paper and what your instructor will be looking for. When you write your paper, you will therefore know exactly what to include and how to write about it in order to maximize your points—and you’ll also see what you can spend less time on because it won’t contribute to your overall grade.

Make friends with your library

Many students automatically turn to search engines like Google in order to research their papers, but this is not the most effective way to find high-quality business sources for your paper. Instead, take advantage of your library’s databases. Your college or university library will likely have dedicated business databases that collect high-quality academic articles on business topics. Using these resources in your paper will make your essay stronger and more effective, and it will put your paper on a solid academic footing.

Compile your sources before you write

Many students use the start-and-stop method to write their papers, composing a sentence or two and then stopping to look up more information in order to keep going. This, however, is an inefficient way to work. A better way is to read through your research sources before you start and copy into a separate file a series of quotations and facts that you might use in your paper, creating in-text citations and reference list entries for each before you start. Doing so will make sure that you don’t have to stop for research and have a ready bank of pre-cited material to work with as you write.

Outline before you write

Outlining is an important skill that will both save you time and improve the quality of your essay. Take time before you write to lay out your paper from beginning to end. Start with your thesis statement and carefully lay out the body paragraphs with a topic sentence, supporting details (including research, quotes, and citations ), and a closing paragraph . Plan your transitions to link paragraphs together. Any amount of outlining can be helpful, but the more effort that you put into outlining at this stage, the easier it will be to write your paper, and the less likely it will be that you get stuck in a tangent that goes nowhere or meander into a point that requires you to change your thesis and revise you whole essay.

Remember to revise and proofread

When you finish the draft of your paper, you aren’t done yet. The first draft is rarely the finished product. You should always set aside time to read your work back and to make revisions to make it clearer. You also need to carefully proofread for mechanical grammar, punctuation, and syntax issues to ensure that your paper is as close to perfect as possible. You don’t want to leave points on the table because your paper had easy to fix minor spelling or grammar errors.

Consider professional writing help

Another great way to get your paper done quickly is to seek out custom professional help from an essay writing service with academic experts. An online writing company such as this can create business papers for college students and deliver them fast. When you utilize professional writing assistance, you can receive a custom-written essay that can serve as a great model to help you understand how a professional would approach your business topic and organize and develop an essay to address your assignment. Using a model such as this can save you time and effort as you work on your own paper, allowing you to focus on the learning process more than the mechanics of academic essay writing.

Join the thousands who have sharpened their business writing skills with our award winning courses.

Copyright © 2024 Businesswritingblog.com.

How to Write a Business Essay for Impactful Communication and Analysis

So, you've got a business essay coming up, and you're feeling a mix of excitement and a tad bit overwhelmed, right? Totally get it. Writing a business essay might sound boring, but trust me, it's a skill that's gonna come in handy when you're out there in the real world.

In this article, we're dishing out some awesome tips just for you if you have question on how to start a business essay. Think of it as your secret weapon to tackle those business essays like a pro. We'll keep it real, easy, and super practical – no fancy jargon or complicated theories. Let's dive into the world of business essay writing, where your words can make a big impact. In case you lack time or motivation to finish your assignment, use our business essay writing service to streamline the process.

What Is a Business Essay

Business essays are written pieces that explore and analyze various aspects of business-related topics, often focusing on management, marketing, finance, or entrepreneurship. They provide a platform for students and professionals to articulate their understanding of business concepts, theories, and real-world applications. Typically written in a formal and structured manner, a business essay requires critical thinking, research skills, and the ability to communicate ideas effectively. Whether delving into case studies, discussing industry trends, or evaluating business strategies, the essay aims to provide insights, draw conclusions, and contribute to a deeper understanding of the dynamic world of business.

How to Write an Introduction for a Business Essay

A business essay introduction sets the tone for the entire paper and captures the reader's attention. Here are some steps and tips to help you write an effective introduction for a business essay:

• Understand the Purpose of the Introduction

Clearly understand the purpose of your essay. Are you providing an overview of a business concept, analyzing a case study, or arguing a specific point? Tailor your introduction accordingly.

• Start with a Hook

Grab the reader's attention with a compelling hook. This could be a relevant quote, a surprising fact, a rhetorical question, or a thought-provoking statement. The goal is to make the reader want to continue reading.

• Provide Context

After the hook, provide some background or context related to the topic of your essay. Help the reader understand the significance and relevance of the subject matter in the business world.

• Thesis Statement

Clearly state your thesis or the main argument of your essay. This should be a concise and focused statement that outlines what the reader can expect from the rest of the essay. Make sure it is specific and reflects the purpose of your writing.

• Outline the Scope

Briefly outline the main points or areas that your essay will cover. This gives the reader a roadmap of what to expect and helps them understand the structure of your essay.

• Use Clear and Concise Language

Keep your introduction clear and concise. Avoid unnecessary jargon or complex language that might confuse the reader. Aim for clarity and precision.

• Be Relevant

Ensure that every sentence in your introduction is directly related to the topic of your essay. Avoid going off on tangents or providing excessive information that doesn't contribute to the main points.

• Consider the Tone

Choose a tone that is appropriate for your audience and the nature of your essay. Business essays can vary in tone, from formal and academic to more conversational, depending on the context.

Are You a Business Student with a Hectic Schedule?

 Try our professional writing service – it can do wonders for your curriculum!

Business Essay Introduction Example

Here’s an example of an introduction for an essay titled “The Rise of E-commerce: Shaping the Future of Retail”:

The retail landscape is undergoing a seismic shift as e-commerce continues to redefine the way consumers shop. In this essay, we explore the profound implications of this digital transformation on traditional retail models and analyze the key strategies businesses are employing to thrive in this dynamic environment. From changing consumer behaviors to the strategic use of technology, the impact of e-commerce on the retail sector is undeniable, prompting businesses to adapt or face the risk of obsolescence.

How to Write a Business Essay

Working on a business essay might seem daunting, but it doesn't have to be. In this guide, we'll break down the process into simple steps to help you navigate through it smoothly. In this next section. We’ll be breaking down the essentials of drawing up a business essay from start to finish. From defining your main argument to structuring your points effectively, let's explore the key strategies that will set you on the path to success. 

Analyze the Prompt

Start by carefully reading and understanding the essay prompt. This involves breaking down the question to grasp what it's asking for, identifying the main topics, and recognizing any specific tasks or points to cover. This step helps you set the stage for a focused and relevant essay by ensuring you address all aspects mentioned in the prompt. You can hire a business essay writer to expedite the process if you want.

Think of a Thesis Statement

When writing a business essay, think of the thesis statement as the essay's compass. It should be a concise, strong sentence that lays out your main argument or viewpoint on the topic. Your thesis guides the entire essay, so make sure it's specific, debatable, and gives readers a clear idea of what to expect in your writing.

Create an Outline

We’ve already shared tips on how to write an introduction for a business essay, so let’s move on to the next stages. Organize your thoughts by outlining the main points and structure of your essay. This doesn't have to be too detailed; just a roadmap that helps you see how different ideas connect. An outline ensures a logical flow in your writing and prevents you from going off track. By the way, have you already picked business essay topics ? If not, here’s a list of great ideas you can use!

Provide Topic Background

Before diving into your main points, the business essay writing format implies giving your reader some context about the topic. Briefly introduce the key concepts, relevant facts, or historical background that will help readers understand the importance and relevance of your essay.

Write the Main Body

Start developing your essay by expanding on the main points outlined in your thesis. Each paragraph should focus on a specific idea or argument supported by evidence or examples. Be clear and concise, ensuring a smooth transition between paragraphs. It’s the most difficult part of the assignment, meaning you can use our college essay service to simplify it.

Write a Conclusion

Summarize your key points and conclusively restate your thesis. The conclusion should tie up the loose ends and leave a lasting impression on the reader. Avoid introducing new information but rather reinforce your main argument. For more details about how to write a conclusion for an essay , please refer to our guide.

Add a Bibliography

List all the sources you used in your research. Be meticulous about citing your references properly, following the chosen format (APA, MLA, etc.). This adds credibility to your essay and avoids plagiarism issues.

Edit and Proofread

As you’ve learned how to write a business essay, it’s time to master the art of self-revising. Review your essay for clarity, coherence, and grammatical errors. Editing ensures that your ideas flow smoothly, and proofreading catches any overlooked mistakes. It's a crucial step to polish your essay and present a professional piece of writing. Do you have another assignment on business management ? This guide will help you!

Choose the Writing Format

Reiterate the importance of selecting and adhering to the chosen writing format throughout the essay. Consistency in formatting, citations, and other style elements contributes to the overall professionalism of your work.

Business Essay Example

Business essay examples offer practical assistance to students tackling assignments by showcasing the application of essential writing principles in a real-world context. As a tangible reference, it demonstrates an effective essay structure and how to formulate a clear thesis statement and provide coherent arguments. By examining examples, students can glean insights into research techniques, proper citation practices, and overall essay organization, empowering them to approach their business assignments with increased confidence and proficiency.

Example 1: “The Impact of Technological Advancements on Modern Business Operations”

This essay explores the multifaceted impact of technology on operational efficiency, innovation, customer relations, and global connectivity. From integrating automation and artificial intelligence for streamlined processes to facilitating global expansion through digital platforms, technology emerges as a driving force shaping the success and sustainability of contemporary enterprises. While acknowledging the numerous benefits, the essay also highlights the challenges and ethical considerations inherent in adopting these technologies, emphasizing the need for businesses to navigate these complexities responsibly for long-term growth and competitiveness.

Example 2: “Sustainable Business Practices: A Strategic Imperative for Corporate Success”

This essay explores the pivotal role of sustainable business practices as a strategic imperative for corporate success in the contemporary entrepreneurship scene. Addressing environmental concerns, social consciousness, and economic viability, the essay delves into the multifaceted benefits of adopting sustainable approaches. It discusses how businesses can align profitability with responsible practices, emphasizing environmental stewardship, social impact, and community engagement. The essay underscores the importance of regulatory compliance and risk mitigation in business by examining the economic advantages and innovation opportunities arising from sustainable initiatives.

Final Considerations

Students engage in writing business essays to develop essential skills and knowledge crucial for success in the professional world. These essays serve as a platform for honing critical thinking, analytical, and communication skills, allowing students to articulate and analyze complex business concepts. Through the process of researching, organizing thoughts, and constructing coherent arguments, students gain a deeper understanding of business principles and practices. Business essays also cultivate the ability to synthesize information, evaluate various perspectives, and present well-reasoned conclusions. If you find with task troublesome, you can always tell us, ‘ write my research paper ,’ and one of our wordsmiths will fulfill the assignment quickly.

Writing Business Essays Doesn’t Work for You?

 Here’s an alternative – an expert writer with relevant experience and proper skills.

How Many Paragraphs Does a Business Essay Have?

What is the most important part of a business essay, how do you start off a business essay, related articles.

More From Forbes

Essential steps to establishing a strong business foundation.

• Share to Facebook
• Share to Twitter
• Share to Linkedin

Laying The Groundwork: Essential Steps To Establish A Strong Business Foundation

An estimated 20% of businesses will not make it to the one-year mark, according to Investopedia. For many entrepreneurs, the trouble is that they expected overnight success. However, successful entrepreneurs know that a strong foundation is the key to long-term growth.

Building that foundation requires a lot of perseverance, grit, and determination. It's a process that intertwines various elements, from clarifying your business idea to understanding your market and setting up efficient operations.

The Fundamentals Of Building A Business

A skyscraper requires a solid base if it's going to withstand external pressure. Likewise, a business needs a well-thought-out foundation to navigate the market's complexities. This foundation encompasses a clear business plan, a deep understanding of the target market, a coherent branding strategy, and efficient operational frameworks.

“Your foundation sets the stage for sustainable growth. It’s what makes you resilient when the market changes or you're faced with a crisis that's out of your control. Without this groundwork, a business risks instability and inefficiency, akin to a structure built on shifting sands,” says Kristi Bogan, MD, founder of Gioventù Med Spa , which will expand to multiple locations in the next few years. “Don’t think of a strong foundation as a preliminary step, but a continuous investment in the future stability and prosperity of the business.” Here are the fundamentals every business needs to ensure its short- and long-term success.

A Clear Business Idea

Every successful business is rooted in a clear, well-thought-out idea. “Clarifying your business idea is a foundational step that goes beyond identifying what product or service to offer; it demands an understanding of the unique value proposition of your business. It involves asking critical questions about the problems your business intends to solve and how it differentiates itself from existing market solutions,” says Bogan.

Best High-Yield Savings Accounts Of September 2023

Best 5% interest savings accounts of september 2023, a strong business plan.

Businesses with a clear plan are twice as likely to succeed as those that don’t, according to Small Biz Trends. “Think of creating a comprehensive business plan as a roadmap for your entrepreneurial journey. This blueprint details your business goals and the strategies to achieve them, encompassing market analysis, product or service descriptions, marketing and sales tactics, and financial projections. Not only does a solid business plan guide your strategic decisions, but it also plays a crucial role in securing investments and loans,” advises Bogan.

Market Understanding

Deeply understanding your target market is a requirement for any business. “This requires thorough market research to grasp potential customers' needs, preferences, and behaviors. You'll need to conduct a thorough competitive analysis to figure out what already exists and where the gaps are that you can fill. This process will shape your product development, pricing, and marketing strategies,” says Bogan.

Legal Structure And Financing

“Entrepreneurs are visionaries and dreamers who often ignore the mundane but essential aspects of legal structure and financing,” says Bogan. “The legal structuring of your business significantly impacts aspects from liability to taxation. Coupled with this is the need to secure financing, whether through personal savings, loans, or investors. Navigating these choices requires careful consideration and often expert advice.”

Brand Building And Operational Setup

Even in the beauty industry, building a strong brand extends beyond visual elements; it encapsulates the total experience customers have with your business. “Setting up efficient operations, forms the backbone of your business. This can encompass everything from production to inventory management, customer service, and the customer experience,” Bogan says.

Operational setup must include employees. “Your team should align not just in skill but also in vision and values. Giving exceptional customer service 100% of the time will surprisingly separate you from your competitors. In return, your customers will become loyal fans who refer you to their networks.”

Adaptation And Evolution

“The business landscape is dynamic, which means your business model will need to adapt as your business grows. This might mean modifying your offerings or strategies to stay aligned with market and technological changes,” says Bogan. “Additionally, investing in marketing and sales is crucial for brand visibility and revenue generation. They will be most successful when you have a strong foundation.”

Your business’s foundation won’t be constructed overnight. Instead, building that foundation is a continuous process requiring dedication and attention. By integrating these elements into your strategy, you can establish a robust base for your business, fostering growth and resilience. With the right approach and commitment, your business can withstand challenges and achieve enduring success.

• Editorial Standards
• Reprints & Permissions

• Professional
• International

Select a product below:

• Connect Math Hosted by ALEKS
• My Bookshelf (eBook Access)

Sign in to Shop:

Log In to My PreK-12 Platform

• AP/Honors & Electives
• my.mheducation.com
• Open Learning Platform

Log In to My Higher Ed Platform

• Connect Math Hosted by Aleks

Business and Economics

Accounting Business Communication Business Law Business Mathematics Business Statistics & Analytics Computer & Information Technology Decision Sciences & Operations Management Economics Finance Keyboarding Introduction to Business Insurance and Real Estate Management Information Systems Management Marketing Student Success

Humanities, Social Science and Language

American Government Anthropology Art Career Development Communication Criminal Justice Developmental English Education Film Composition Health and Human Performance

History Humanities Music Philosophy and Religion Psychology Sociology Student Success Theater World Languages

Science, Engineering and Math

Agriculture and Forestry Anatomy & Physiology Astronomy and Physical Science Biology - Majors Biology - Non-Majors Chemistry Cell/Molecular Biology and Genetics Earth & Environmental Science Ecology Engineering/Computer Science Engineering Technologies - Trade & Tech Health Professions Mathematics Microbiology Nutrition Physics Plants and Animals

Digital Products

Connect® Course management ,  reporting , and  student learning  tools backed by  great support .

McGraw Hill GO Greenlight learning with the new eBook+

ALEKS® Personalize learning and assessment

ALEKS® Placement, Preparation, and Learning Achieve accurate math placement

SIMnet Ignite mastery of MS Office and IT skills

McGraw Hill eBook & ReadAnywhere App Get learning that fits anytime, anywhere

Sharpen: Study App A reliable study app for students

Virtual Labs Flexible, realistic science simulations

Inclusive Access Reduce costs and increase success

LMS Integration Log in and sync up

Math Placement Achieve accurate math placement

Content Collections powered by Create® Curate and deliver your ideal content

Custom Courseware Solutions Teach your course your way

Professional Services Collaborate to optimize outcomes

Remote Proctoring Validate online exams even offsite

Institutional Solutions Increase engagement, lower costs, and improve access for your students

General Help & Support Info Customer Service & Tech Support contact information

Online Technical Support Center FAQs, articles, chat, email or phone support

Support At Every Step Instructor tools, training and resources for ALEKS , Connect & SIMnet

Instructor Sample Requests Get step by step instructions for requesting an evaluation, exam, or desk copy

Platform System Check System status in real time

Business Foundations: A Changing World

Format options:.

Lowest Price!

• Print from $70.00
• Connect from $148.71
• GO from $75.00

McGraw Hill eBook

• Highlight, take notes, and search
• Download the free  ReadAnywhere app  for offline and mobile access

Watch to learn more about the eBook

Textbook Rental (150 Days Access)

• Rent for a fraction of the printed textbook price
• Complete text bound in hardcover or softcover

Loose-Leaf Purchase

Unbound loose-leaf version of full text

Shipping Options

• Next-day air
• 2nd-day air

Orders within the United States are shipped via FedEx or UPS Ground. For shipments to locations outside of the U.S., only standard shipping is available. All shipping options assume the product is available and that processing an order takes 24 to 48 hours prior to shipping.

Note:  Connect can only be used if assigned by your instructor. 

Connect (180 Days Access)

• Digital access to a comprehensive online learning platform
• Includes homework , study tools , eBook, and adaptive assignments
• Download the free  ReadAnywhere app  to access the eBook offline

Connect + Loose-Leaf

• Comprehensive online learning platform + unbound loose-leaf print text package
• Connect includes homework , study tools, eBook, and adaptive assignments

McGraw Hill GO (180 Days Access)

• Digital access to eBook+ embedded in your school's Learning Management System (LMS)
• Includes full eBook and chapter questions
• Download the  free   ReadAnywhere app  for offline and mobile access

* The estimated amount of time this product will be on the market is based on a number of factors, including faculty input to instructional design and the prior revision cycle and updates to academic research-which typically results in a revision cycle ranging from every two to four years for this product. Pricing subject to change at any time.

Instructor Information

Quick Actions ( Only for Validated Instructor Accounts ):

• Table of Contents
• Digital Platform
• Author Bios
• Accessibility

Affordability

The introduction to business course is an opportunity for students to investigate the breadth of business functions, and the positive impact that business has on our society and economic system. Business Foundations: A Changing World delivers a focused presentation of the essential material needed to teach introduction to business, while offering students an appreciation for the role of business in our economy and society. The textbook reflects the latest developments in the business world including the effects of COVID-19 on unemployment and supply chain and emerging technologies such as artificial intelligence, blockchain, cryptocurrency, predictive analytics and more. It also has expanded coverage on diversity, equity and inclusion, particularly in the areas of recruiting and hiring. Business Foundations: A Changing World is an unrivaled text and Connect provides a compilation of exciting application-focused content, activities, and examples that guides students through the technology-saturated world of business today.

Main Features

• LMS Integration
• Print/Loose-Leaf Book Add-On Availability
• Presentation Slides & Instructor Resources
• Question & Test Banks
• Adaptive Assignments
• Student Progress Reporting & Analytics
• Essay Prompts
• Prebuilt Courses
• Interactive Exercises
• eBook Access (ReadAnywhere App)
• Remote Proctoring (Proctorio)
• Subject-Specific Tools
• Quick Setup
• Lives within the LMS
• Assignable Readings
• Auto-Graded Chapter Questions

About the Author

O. C. Ferrell

O.C. Ferrell is the James T. Pursell Sr. Eminent Scholar in Ethics and Director of the Center for Ethical Organizational Cultures in the Raymond J. Harbert College of Business, Auburn University. He was formerly Distinguished Professor of Leadership and Business Ethics at Belmont University and University Distinguished Professor at the University of New Mexico. He has also been on the faculties of the University of Wyoming, Colorado State University, University of Memphis, Texas A&M University, Illinois State University, and Southern Illinois University. He received his PhD in marketing from Louisiana State University. Dr. Ferrell is past president of the Academy of Marketing Science. He is past president of the Academic Council of the American Marketing Association and chaired the American Marketing Association Ethics Committee. Under his leadership, the committee developed the AMA Code of Ethics and the AMA Code of Ethics for Marketing on the Internet. In addition, he is a former member of the Academy of Marketing Science Board of Governors and is a Society of Marketing Advances and Southwestern Marketing Association Fellow and an Academy of Marketing Science Distinguished Fellow. He served for nine years as the vice president of publications for the Academy of Marketing Science. He received a Lifetime Achievement Award from the Macromarketing Society and a special award for service to doctoral students Southeast Doctoral Consortium. He received the Harold Berkman Lifetime Service Award from the Academy of Marketing Science and the Cutco Vector Distinguished Marketing Educator Award from the Academy of Marketing Science. Dr. Ferrell has been involved in entrepreneurial engagements, co-founding Print Avenue in 1981, providing a solution-based printing company. He has been a consultant and served as an expert witness in legal cases related to marketing and business ethics litigation. He has conducted training for a number of global firms, including General Motors. His involvement with direct selling companies includes serving on the Academic Advisory Committee and as a fellow for the Direct Selling Education Foundation. Dr. Ferrell is the co-author of 20 books and more than 100 published articles and papers. His articles have been published in the Journal of Marketing Research, Journal of Marketing, Journal of Business Ethics, Journal of Business Research, Journal of the Academy of Marketing Science, AMS Review, and Journal of Public Policy & Marketing, as well as other journals.

Geoffrey Hirt

Geoffrey A. Hirt of DePaul University previously taught at Texas Christian University and Illinois State University,  where he was chairman of the Department of Finance and Law. At DePaul, he was chairman of the Finance Department from 1987 to 1997 and held the title of Mesirow Financial Fellow. He developed the MBA program in Hong  Kong and served as director of international initiatives for the College of Business, supervising overseas programs in Hong Kong, Prague, and Bahrain, and was awarded the Spirit of St. Vincent DePaul award for his contributions to the university. Dr. Hirt directed the Chartered Financial Analysts (CFA) study program for the Investment Analysts Society of Chicago from 1987 to 2003. He has been a visiting professor at the University of Urbino in Italy, where he still maintains a relationship with the economics department. He received his PhD in finance from the University of Illinois at Champaign-Urbana, his MBA at Miami University of Ohio, and his BA from Ohio Wesleyan University.  Dr. Hirt is currently on the Dean’s Advisory Board and Executive Committee of DePaul’s School of Music. He served on the James C. Tyree Foundation Board and Grant Committee from 2012 to 2016. Dr. Hirt is past president and a current member of the Midwest Finance Association and a former editor of the Journal of Financial Education. He belongs to the Pacific Pension Institute, an organization of public pension funds, private equity firms, and international organizations  such as the Asian Development Bank, the IMF, and the European Bank for Reconstruction and Development. Dr. Hirt is widely known for his textbook Foundations of Financial Management, published by McGraw Hill. This book, in its eighteenth edition, has been used in more than 31 countries and translated into more than 14 different languages.  Additionally, Dr. Hirt is well known for his textbook Fundamentals of Investment Management, also published by McGraw Hill and now in its tenth edition. Dr. Hirt enjoys golf, swimming, music, and traveling with his wife, who is a pianist and opera coach.

Linda Ferrell

Linda Ferrell is the Roth Family Professor of Marketing and Business Ethics in the Raymond J. Harbert College of  Business, Auburn University. She was formerly Distinguished Professor of Leadership and Business Ethics at Belmont University. She completed her PhD in business administration, with a concentration in management, at the University of Memphis. She has taught at the University of Tampa, Colorado State University, University of Northern Colorado, University of Memphis, University of Wyoming, and the University of New Mexico. She has also team-taught classes at Thammasat University in Bangkok, Thailand. Her work experience as an account executive for McDonald’s and Pizza Hut’s advertising agencies supports her teaching of advertising, marketing strategy, marketing ethics, and marketing principles.  She has published in the Journal of Public Policy & Marketing, Journal of Business Research, Journal of the Academy of Marketing Science, Journal of Business Ethics, AMS Review, Journal of Academic Ethics, Journal of Marketing Education, Marketing Education Review, Journal of Teaching Business Ethics, Marketing Management Journal, and Case  Research Journal, and she is co-author of Business Ethics: Ethical Decision Making and Cases (thirteenth edition), Management (fourth edition), and Business and Society (seventh edition). Dr. Ferrell is the past president of the Academy  of Marketing Science and a past president for the Marketing Management Association. She is on the college advisory board for Cutco/Vector and previously served on a NASDAQ corporate board. She is also on the Board, Executive Committee, and Academic Advisory Committee of the Direct Selling Education Foundation. She has served as an  expert witness in cases related to advertising, business ethics, and consumer protection.

Creating accessible products is a priority for McGraw Hill. We make accessibility and adhering to WCAG AA guidelines a part of our day-to-day development efforts and product roadmaps.

For more information, visit our  accessibility page , or contact us at  [email protected]

Reduce course material costs for your students while still providing full access to everything they need to be successful. It isn't too good to be true - it's Inclusive Access.

Need support?    We're here to help -  Get real-world support and resources every step of the way.

Company Info

• Contact & Locations
• Diversity, Equity & Inclusion
• Social Responsibility
• Investor Relations
• Social Media Directory
• Place an Order
• Get Support
• Contact Customer Service
• Contact Sales Rep
• Check System Status

Additional Resources

• Permissions
• Author Support
• International Rights
• Purchase Order

Follow McGraw Hill:

©2024 McGraw Hill. All Rights Reserved.

Business Essay and the Best Way of Its Writing

• Academic Writing Tips

• Social Science
• Political Science

Business is an essential aspect of today’s evolving world. It is a lucrative industry that impacts many sectors, including education. Business-related courses are popular as many students are pursuing the programs. There are many branches in the business field, from business management to finance. College tutors often give students different business papers to test their knowledge as part of the assessment.

A business essay is an academic assignment that involves writing a paper that responds with a strategic and analytical approach to specific situations occurring in the market. Each business essay has a different topic that students tackle. However, the primary purpose of such essays is to collect relevant facts that align with the research question and analyze the data to get solutions.

Writing a business essay might seem simple, but it requires impressive writing skills and extensive research. You must be familiar with the topic to know the paper’s direction. Topic selection is a tricky section that affects the entire writing process. It is essential to identify a relevant topic to assist you in crafting a remarkable paper. You have to write a well-structured and compelling paper to get good grades. Presenting accurate arguments with supporting examples from reliable sources is an essential research aspect. Thus, a business essay must follow the required academic standards and theoretical frameworks.

However, writing is not everyone’s cup of tea, and incorporating logical arguments can be challenging. If you are stuck, you can check any business essay example online to understand the format. You will know how to structure the paper and relate it to the relevant themes.

That is why our writing service is here to help needy students craft exceptional essays. We will connect with a proficient business essay writer to help with the research and writing process. Get flawless documents from us and earn the best score in your class.

Business Essay Format

Most learners often overlook the importance of having a business essay format. It is imperative to use a format to help you outline your work. Proper thought organization and articulation are essential aspects that translate into a well-written business essay.

Below is an example of the format:

• Introduction
• Background information
• Introduce main topics
• Thesis statement
• Topic sentence
• Research explanation
• Restate points
• Significance of the study

The above outline is a map that will guide you to know what to include in each section. In addition, you will understand what the assignment requires you to do from the introduction to the conclusion.

If you still find it challenging to get the proper format, you can study a relevant business essay example from our site and jumpstart your paper. Whether you need a business school essay or a business plan essay, we have you covered.

Write Business Essay In 5 Steps

While writing might seem challenging, with the proper format and topic familiarity, you are on the right track. It is imperative to understand the writing process before composing your business essay. You need to read the prompt carefully to know what you are supposed to research and write about.

Here is an overview of the writing process in 5 simple steps:

• Topic Selection

Choosing a good topic is mandatory in crafting an excellent paper. You must select a theme that aligns with the research question. Additionally, ensure you select a familiar topic you are passionate about to avoid writing mistakes and illogical paragraphs.

• Extensive Research

Conduct extensive research to get facts and supporting evidence. Narrow down your theme and include only good points. Avoid broad topics because you will waste time during research.

• Essay Outline

Make sure you use a proper outline to organize your thoughts and line of arguments. Follow the format essay

Start writing your paper while using the required academic format. Organize your work and include the introduction, main body paragraphs, or conclusion.

• Editing and Proofreading

Finally, edit and proofread your essay to eliminate grammatical and spelling mistakes.

The above steps will help you during business essay writing to craft remarkable papers. It would be best to plan your time adequately to avoid rushing through the process. However, you must select an appropriate topic for your paper. It could be a business management essay or a marketing paper. No matter the subject discipline, ensure you follow the correct procedure.

Business Essay Topics

Our experts have compiled a list of different business essay topics to inspire your writing:

• Discuss the importance of bookkeeping in a business.
• Evaluate the impact of value addition in products.
• An analysis of income and expenditure transactions.
• Analyze the supply-chain industry.
• The effects of product promotion in business growth.
• How to develop an effective marketing strategy.
• Impact of policymaking in enhancing company productivity.
• What is multilevel marketing?
• Impact of technology in the business world.
• Discuss the challenges affecting entrepreneurship.
• Significance of human resource management.
• Explore the importance of budget analysis.
• How does technology impact advertising?
• The importance of a financial strategy.
• How to start an online business.
• How can organizations profit from sustainable practices?
• How to develop a positive organizational culture.
• The importance of employee diversity in an organization.
• Effective ways of fraud prevention in a company.
• Explore the communication channels in an organization.

Let us look at interesting argumentative business essay topics

• Discuss the influence of cultural differences on international companies.
• A comprehensive analysis of cryptocurrencies.
• Discuss the ethical dilemmas in international organizations.
• The influence of globalization on the business community.
• Should large organizations have a social media presence?
• Causes and effects of economic recession.
• Impact of politics on business growth.
• Discuss the effective strategies of negotiating cross-cultural business deals.
• Explore the integrity of online entrepreneurship.
• The impact of corporate social responsibility in an organization.

The field is quite diverse with various course programs. You can derive different topics from these programs to get logical arguments. So, get inspiration from the compelling business school essay examples and craft exceptional papers.

How To Start A Business Essay

Knowing how to start a business essay is essential for academic writing. The first step entails topic selection because it will determine the essay’s direction. Identifying a relevant topic is vital, and you need to ensure you get the suitable theme. It will also help save you time during research and simplify the writing process.

When it comes to essay writing service , business papers are among the assignments that require extensive research and analysis. Read the essay prompt carefully to understand the tutor’s expectations. Then, make sure you conduct a comprehensive brainstorming session to get the major points for your paper. Having the right points will help you compose logical arguments in a flawless manner.

Moreover, it would help to read previous essays and publications from reliable essays widely. You will get essential data to support your arguments. Besides, the sources will help you cite your essay correctly.

Start your essay with an insightful introduction and include your perspective regarding the topic. Incorporate a powerful thesis statement that informs your readers of the paper’s direction and the major points you will discuss.

Proceed to write the body paragraphs with a topic sentence that captures all significant arguments. Each paragraph should have well-explained arguments that flow logically.

Finally, conclude your business essay by restating your main points and the significance of the study.

Still, need help with your paper? Worry no more. Our competent business essay writers are on standby, ready to assist you with any academic paper. Stop wasting time and reach out to us. We will help you score top-of-the-class grades within no time.

The paper “Enterprises Resource Planning Success and Failure” is an outstanding example of a business essay. An Enterprise resource planning (ERP) system according to Aslan et al. (2012, p.693) is a management system within an organization that has sets of connected inclusive software, which may be used when espoused and put into practice effectively, to oversee and connect every organizational function. Basically, ERP systems may be employed as a tool for helping to improve the supply chain network as well as the level of performance by helping in decreasing cycle times.

Besides that, ERP systems have been utilized routinely in capital-intensive industries like building, construction, manufacturing, as well as defence. Latterly, ERP systems have advanced further and nowadays they are prevalent in industries such as education, health care, finance, hospitality, and telecommunications. Fundamentally, the benefits of ERP systems are hard to realise not unless a strong disposition, as well as participation, is established within the organisation; so, the article seeks to critically analyse ERP success and failure experienced by organisations.

BodyAs mentioned by Hellens et al. (2005, p.283), ERP systems are built upon a single database and application, as well as a coordinate that is unified in the whole organization. For that reason, every application serving different departments such as HR, accounting, and supply chain are integrated firmly under a single ERP system. Al-as observed by Al-Masha et al. (2003, p.354), ERP systems are useful when successfully implemented because they accelerate the process of decision-making. So, the success of ERP systems depends on the ability of an organisation’s managers to efficiently oversee the operation of a business, given that ERP systems can help them reduces operation costs.

Success drivers of ERP systems can be categorised into two: operational and technological drivers. In this case, operational drivers are associated with ways of improving organisational performance, supporting business strategies, as well as cutting production costs. On the other hand, technological drivers are predominantly associated with compliance with existing rules and regulations. The notion of success varies as the process of implementation continues, in that for planning and implementation (the first two stages of the cycle) success is mainly rooted in completing the ERP project to the standards that are acceptable within the budget as well as a time limit.

As pointed out by Hanafizadeh et al. (2010), stabilization as well as Improvement (the last two stages of the cycle) success is founded on the seeming impact of the ERP system on the performance of the organization. As indicated in Hanafizadeh et al. (2010) study, there are scores of factors vital for the success of ERP systems; support is top management one of the factors, and it involves encouraging commitment, positivity, and support of top management in the ERP project. Another factor is the utilization of knowledge as well as experience of system and technology consultants.

Additionally, the balanced project team is crucial for the success of ERP systems because it includes the integration of employees and information technology with the broad knowledge of the processes in the organization. As evidenced in Hellens et al. (2005) study, the accuracy of the information is crucial to the success of ERP project, so, data loaded from accessible legacy systems must at all times be of high quality. ERP project cannot succeed if the project management teams do not have a well-defined, detailed project plan related to the goals of the project.

Change management is also a success factor in the implementation of ERP project; so, careful attention has to be offered to this, considering that several changes in business processes are experienced during ERP systems implementation. Training and education are also important given that technical expertise regarding the ERP system, its reference model, and facts regarding its working are useful in the process of implementation. Other factors crucial for success consists of, availability of experts who aside from being in top management will frequently help the organization realize ERP system benefits.

Failure of ERP projects has been prevalent, and this has continued to bite worldwide across all business platforms. As pointed out in Xue et al. (2005, p.279) study, ERP poise substantial benefits like improving customer service, reducing manufacturing costs and boosts productivity, but these benefits are only realised after successfully implementing the ERP systems. Nevertheless, statistics show that implementation of ERP systems is still a failure amongst scores of companies. Statistically, 90 per cent of ERP systems implementations in Asia countries, especially China are either completed late or use more money and resources than those stipulated in budget.

In Xue et al. (2005) study, where they differentiated implementation success of ERP system in China as well as western countries, they noted that China had a higher percentage of failure which was attributed mainly to lack of support from top management as well as data inaccuracy. Other factors that led to ERP failure include poor participation, education and training, insignificant time ensuing from a minimal understanding of cross-operational organisational processes (Dechow & Mouritsen, 2005, p.691). Furthermore, ERP systems are exceedingly expensive, and also the need for the organisation to hire consultants to assist in the configuration as well as implementation, results in further escalation of price; thus, creating a high possibility of failure.

The cost used on consultants is almost thrice the cost of an ERP system; this negatively affects the productivity of the company and can lead also to the failure of the ERP system. ConclusionIn conclusion, it has been argued that ERP systems are beneficial because they improve the flow of information between every function of the company and also manages the connections to external stakeholders. Currently, the key basis of competitive advantage is the capability of a business to improve the processes of the supply chain.

This necessity has created the need for more advanced information systems like ERP systems. The articles have heightened numerous factors critical to the success of ERP, and which have allowed companies to efficiently plan their resources resulting in business efficient functionality and increased productivity. Failures as discussed in the article are caused by lack of support from top management, data inaccuracy, and lack of sufficient education and training.

The paper “New iPhones Show a Hit For Apple as Quarterly Profit Fluctuate 13 Percent” is an outstanding example of a business literature review. Yao (2014) explains that China is expected to provide information about its weakest growth since the occurrence of the global financial crisis within the third quarter while the property downturn is assessed based on manufacturing and investment. As a result, more pressure has been put on Beijing to unveil new stimulus measures. According to Yao (2014), the market assumes that the Communist Party leader will be able to adjust to the gradual slowdown. This will happen only in circumstances where there are no possibilities of experiencing a potentially destabilizing fluctuation in unemployment. However, anything weaker would lead to more speculations of key stimulus measures, for instance, an interest rate cut. Although the leadership has consistently provided steady aid specifically to vulnerable sectors of the economy, it has been noted that several stimuli have been ignored because China is still struggling to pay a huge local government debt (Yao 2014).

Article 2: New iPhones show a hit for Apple as quarterly profit fluctuate 13 percent

Due to strong demand for APPLE’s new larger-screen iPhones released in September, its quarterly profit increased by 13 percent. This also enabled APPLE to overcome the sluggish iPad sales (Jones 2014). Despite the more intensifying competition felt by Samsung Electronics as APPLE’s leading Smartphone competitor, Jones (2014) points out that the iPhone is attracting more consumers who are also ready to pay high prices particularly for cutting-edge handsets. Through its latest phones, Apple is profitably catching with its major competitors, such as, Samsung that have from time to time managed to post attractive sales of larger phones. It has also been noted that the marketing strength that iPhone has gained stands in contrast to sluggish iPad sales and the issues affecting Samsung’s Smartphone business (Jones 2014).

Article 3: Coal not the solution for poverty

Couchi (2014) examines that cheap coal-fueled electricity is highly considered by miners and politicians as the best alternative way out of poverty, particularly for developing nations. However, Africa has not considered this. In the business report provided by Couchi (2014) about the U.S financial group Citi, it can be noted that the booming market for African electricity has been a result of the coal approach. In the attempt to reinforce coals bearish outlook, Couchi (2014) reports that Citi discovered that a new International Energy Agency (IEA) outlook on the commodity is in contrast with the idea of BHP, the US coal producer Peabody as well as the Minerals Council of Australia which maintains that coal would play an integral role in minimizing energy poverty, particularly for developing countries. Despite its metallurgical and thermal forms, coal is considered the second-biggest mineral exported from Australia after iron ore (Couchi 2014).

Article 4: Ebola could be in the headlines, but tobacco is yet another killer in Africa

Research conducted by The Guardian (2014) shows that although Ebola dominates the headlines, there is yet another killer pandemic of great importance that continues to kill many people in the African continent unnoticeably. It is has been noted that tobacco kills at least one between two long term smokers. Currently, it is anticipated to kill 1 billion people globally before 2100. This is relatively more compared to the current number of people who die of Ebola. The Guardian (2014) terms this global issue as injustice and inequality because Transnational Tobacco Companies (TTCs), such as UK-based British American Tobacco (BAT) earn humungous profits yet they cause economic damage worthy over half a trillion dollars each year. Besides, TTCs contribute more to environmental degradation and thus create risks that compromise the health as well as the sustainability of populations. To earn more profits, TTCs are currently shifting and expanding their business to untapped markets in regions with unrestricted opportunities for growth (The Guardian 2014).

Article 5: NAB, ANZ lead pack in building home-lending share

The home loan is still considered the major driving force in recovering credit growth for banks. In this case, National Australian Bank (NAB) and ANZ are on the frontline to encourage the big banks in taking the advantage of the mortgage market, while home and business lending are sustainably becoming strong. Therefore, NAB and ANZ have put on media their fastest growth out of the big in all the past three months (Yeates 2014). Despite the faster growth and expansion made by NAB compared to their rivals in home lending, Yeates (2014) notes that analysts see business lending as a bigger concern because the bank has lost shares and faced more pressure, particularly on its margins. Generally, the home loan market is considered a major driving force that enables banks to recover from credit growth regardless of the risks associated with life specifically in business lending (Yeates 2014).

The paper “Globalization and Culture” is an outstanding example of a business essay. Today, it is common to hear people refer to the world as ‘a global village’. This has been a result of the process of globalization. This process has opened up and improved trade across regional and national borders. Not only has globalization enhanced economic interactions across nations but also improved access to information and uplifted the fight for human rights, among other benefits. Recent technological and communication developments along with improved road networks have been the key drivers of globalization. However, critics of globalization say that these benefits have been realized at a very high price: that of surrendering regional and national cultural values, mainly, for Western morals (Kwame, 2007).

Regarding this debate, two key schools of thought emerge. From one angle critics argue that globalization spreads out any and every culture all over the realm, leading to cultural heterogeneity and deeper understanding between diverse groups. This is mainly defined through the global production and distribution of commodities such that people in different parts of the world have access to commodities they would otherwise have never seen. A case in point is the cultural interaction between the United States and Japan. Teens in the U.S interact with the Japanese culture through their comic books, animations and video games, while teens in Japan interact with the American culture through watching TV shows and Hollywood movies produced in the U.S (Kwame, 2007).

On the flip side, critics argue that globalization erodes the regional and national cultural identity through cultural homogeneity. This leads to a cohesive global culture constituting diluted varieties of regional and national cultural nuances. For instance, French pastries, ‘American’ fried chicken, and Japanese sushi can be eaten in almost any part of the world. Restraint chains such as MacDonald’s and Starbucks have influenced traditions and behaviors in different countries. Even though champions of globalization claim that this merely affects consumer goods and media broadcasting, critics contend that it deteriorates customary culture ((Kwame, 2007; Czinkota, 2003).

Culture is a prevalent aspect in business whether it is in marketing, production, or human resource management. It is a key variable in the function of success in new markets (Czinkota, 2003). People’s purchasing decisions are based on a product’s design, style or color that supports their religious beliefs and practices. Empirical evidence shows that the success or failure of a company, especially, in a foreign market is reliant upon the effective managerial exercise of local religious beliefs and practices. Therefore, managers ought to be on familiar terms with their market’s religious differences given that religion influences people’s attitudes. For instance, Asians have a different attitude toward authority and women that differs from Western beliefs and practices. Whereas many parts of the world, including Asia, South America, and Africa, value collectivism very much, Americans are more individualistic. Chinese, Latin Americans and Koreans take time casually even as Americans are more proactive.

Failing to appreciate the religious beliefs and practices of the market will often lead to lots of inadvertent mistakes, such as being socially violent, cultural mix-ups, tarnished interpersonal relations, poor negotiations. As a consequence, the company’s future performance dwindles as profits decline. Lack of religious competence, or religious dogmatism, can easily put at risk millions of dollars through fruitless negotiations, lost purchases or sales, and pitiable customer relationships (Czinkota, 2003).

Cultural Literacy

Culture is a broad system that includes traditions, beliefs, attitudes, values, institutions and social interactions. This system reflects the global crunch facing the human race, and so it is a cultural catastrophe (UNESCO 1997). Dealing with such a cultural diversity calls for an important skill referred to as cultural competence. Chrisman (2007) defines cultural competence as ‘attitudes, practice skills, and system savvy for cross-cultural conditions’. The key force in work involving cultural competence is the people’s flexibility and ability to appropriately consider and treat the general public politely and in a proper way fitting their culture. Cultural literacy takes account of cultural competence plus the capacity to analytically mirror, and if needed institute change in, one’s a specific culture. Cultural literacy also comprises the capacity to examine the actions of central cultures measured against other cultures. This becomes very much useful in business. A case in point is the understanding of the effect of globalization or cross-cultural businesses on indigenous cultures all over the world.

Cultural literacy has been likened to an iceberg, through the iceberg model of culture. This is due to the expanse contextual material one requires to understand the culture. Cultural literacy often involves much more than the information essentially spoken. In other words, to understand the meaning of a cultural term, one has got to have much information that is not revealed by the bare meaning of that term. The clear cultural meaning of the term is like the ‘tip of an iceberg’ meaning that the deeper understanding lies below the casual meaning of the term and it constitutes a person’s own applicable information. It is known that 15 per cent or less of an iceberg can be seen above the water surface, 85 per cent or more of the iceberg is submerged below the water surface. This means that there is quite a different picture depicted shallowly from that which is the actual translation in the literature, giving the imprint that implied information comprises relatively tiny bits and pieces of information, left out by the correspondent due to dismissal or suitability (Hawkes, 2001).

Figure 1: Iceberg Model of Culture

It has been stated earlier that culture is a broad system that among other aspects involves religion. The world is very diverse in terms of culture as well as religion. Each culture embodies a creation in itself and yet it is not closed. Cultures give religious convictions semantics, and religions provide decisive connotation to each culture. Religion is a way of life for numerous cultures saturating every one human action. In other cultures, it characterizes the utmost ambitions of human life, and for others, religion is an institution that claims to convey a meaning of deliverance (Hawkes, 2001).

The paper “The Different Communications ” is an outstanding example of a management assignment. Phone: 23 rd August: the communication was made to remind that the bill for the mobile phone is outstanding and if not paid within the date will have a fine imposed on it. The communication was successful as it helped to fulfill my need and acted as a reminder. Further, the call also ensured that it was complete and all the details like outstanding amount, due date, late fine, and other details were provided. The call was complete and highlighted the important aspect which if ignored could have an impact on my usage.

Radio: 24 th August: The communication was made regarding the areas which are having huge traffic and showed the roads which should be avoided. The communication was successful as it helped to fulfill my requirements by highlighting the different roads which need to be avoided and which need to be used. The communication was further clear and loud regarding the different roads and path which should be avoided. This method acted as one where proper guidance was provided and acting in the correct way was highlighted so those correct decisions can be taken.

Communications that were unsuccessful

Television: 24 th August: The communication was made regarding the sale of women’s garments. The communication was ineffective because in the first instance it didn’t meet my needs and requirements as I was not looking to shop. Secondly, the message was not constructed properly as it didn’t speak about the brands which were available on sale, the different garments which were available, and also didn’t highlight the date when the sale would end.

Phone: 25 th August: The communication was made regarding the mobile bill payment which has already been made. The call was ineffective because it was not required as the payment has been made and I had the required receipt. The call was instead a wastage of time. In addition to it, the call was not constructed properly and required to focus on areas through which a message would have been enough as a source of communication to ensure that the payment was correctly entered.

Reasons for communication not to be successful

The communication process can be improved in the following ways

Firstly, ensuring that the communication which is made is required and is addressed properly so that the person who receives the communication gains from it (Nicholas, 2013)

Secondly, providing complete information is essential as it will serve as a benchmark to evaluate the manner in which different information is passed (Anne & Bochner, 2007). It will also help to understand the important matter which has been spoken and will help to highlight the manner in which changes can make so that proper communication and message is passed

Thirdly, the targeted audience was wrong and it is important to correct the audience (Mehrabian and Susan, 2007). This will help to improve the validity and reliability of the communication and will ensure that the process of communication becomes effective and is directed towards the correct person

Fourthly, the process of communication needs to be improved and changed so that the message is correctly interpreted and passed with the same intention (Imahori & Lanigan, 2012). This will help the listeners to evaluate the message in the correct form and will help to ensure maximum response.

Fifthly, the media which are used needs to be chosen wisely as the usage of a message instead of a phone call for bill paid confirmation would have been more helpful and could have caught the attention of the audience in a better way. This would have multiplied the effectiveness of communication and would have helped to understand the important points and issues.

The process of communication thereby requires working on the smaller and important aspect so that the overall process of communication improves and helps to provide the required dimensions through which effectiveness can be gained in the manner messages are passed.

The paper “Why Did Telefonica Initially Focus on Latin America” is a perfect example of a business assignment. Based on Telefonica’s objectives of rapidly increasing shareholder value, profits and achieving growth, it had to take advantage of location economies. Hence, the company initially focused on Latin America, as it must have perceived FDI to be a means for circumnavigating trade barriers. Indeed, the reasons why Telefonica initially focused on Latin America are perceivable through the lens of the Uppsala Model Theory.

According to the theory, the internalisation of a company across many foreign markets is correlated to psychic distance, where the first entry is to foreign markets that are familiar and closer in regards to the psychic distance of the host country, before making subsequent entries in foreign markets with greater psychic distance. Psychic distance comprises the differences in culture, language and political systems (Falvo & Parshad 2005).

Within the perspective of Uppsala Model Theory, it should be argued that companies tend to gradually increase their activities in international markets through a series of incremental stages, where the succeeding steps are anchored in learning and adapting to foreign markets (Pandian & Sim 2002).

This implies that the firms fast gain experience from the markets, where they have closer cultural ties before expanding to foreign markets. For instance, Telefonica had to first gain experience as a telecoms operator in Latin America, since the region has deep cultural ties with Spain, where it is headquartered.

Strategic competitive advantages

The company’s decision to slowly expand to Europe appeared opportunistic as well as strategic. Europe had initially possessed trade barriers that lowered the chances of successful entries. Essentially, there is a correlation between culture and national competitive advantage, where countries that are likely to impose trade barriers, in terms of competition are bypassed in preference to those that are less competitive (Enu & Attah-Obeng 2010). This argument is based on Dunning’s Eclectic Theory, which hypothesises that a company will always seek to leverage their specific advantages, including marketing, knowledge, skilled personnel, technology and information (Dunning 2001).

In this case, the Latin American markets were growing rapidly. They also experienced an increased high adoption rate and usage of mobile phones and internet connections. Additionally, after the Spanish government privatised Telefonica and deregulated the Spanish telecommunications market, the company’s core objective became increasing shareholder value, profits and achieving growth.

This implies that profit maximisation is a major drive to foreign direct development; through the use of particular advantages the company has (Glesem et al. 1990). It, therefore, had to select a region that would enable it to achieve higher profits. The company selected Latin America over Europe. Latin America had few entry barriers, such as competition and government regulations, while Europe had greater barriers due to more competitors. This implies that imperfect competition within the marketplace is a key incentive for expanding abroad. Besides, European mobile telecommunications operators had agreed they would not invade each other’s markets. However, after the entry of America Movil into Latin America, Telefonica faced a stronger competitor, forcing it to expand to Europe.

Commenting on other student’s post:

Why did Telefonica initially focus on Latin America?  Why was it slower to expand in Europe, even though Spain is a member of the European Union?

While the student hinted at the growth of multinational enterprises, a brief outline detailing why the company expanded and reasons for expansion could have provided a more relevant backdrop. Additionally, the reference to the Socialist Party by Popular Part in the general election of 1996 was irrelevant and out of context. The student’s decision to link the factors for the European Union to the opening of the telecommunications sector was misplaced. Rather, the student should have selected reasons why Telefonica selected to begin operating in Latin America before making headway to Europe. However, reference to high competition in the sector in Europe was justified.

Accordingly, the student should have explored the close cultural ties between Spain and Latin America, as the major drivers that triggered Telefonica to first launch in the region before expanding to Europe. In supporting the argument, a reference to a relevant theory, such as the Uppsala Model Theory could have pointed to the reasons why internationalisation of a company across many foreign markets is correlated to psychic distance (Uhasselt. be 2005). This includes why the initial entry is mostly made in foreign markets that are familiar and closer in regards to the psychic distance of the host country. Afterward, an explanation of what this meant to Telefonica based on the theory could have been appropriate (Gustafsson & Zasada 2011). For instance, the student should have stated that firms get to fast gain experience from the markets where they have closer cultural ties before expanding to foreign markets.

The student should have based his arguments on Dunning’s Eclectic Theory, which proposes that firms tend to use their peculiar advantages such as marketing, knowledge, skilled personnel, technology and information (Rugman 2010). Further, he should have stated that companies view FDI as a means to circumnavigate trade barriers before going forth to describe the correlation between culture and national competitive advantage, where countries that are likely to impose trade barriers in terms of competition are bypassed in preference to those that are less competitive.

While the student was also justified in arguing that the company sought to maximise profitability and to increase shareholder value, no basis was provided to support the argument, based on the case study. At this stage, the student should have suggested a theory to support his argument (Morgan & Katsikeas 1999). Later, the student should have provided examples from the case study to defend the choice of the theory he selected. However, the student provided examples outside the case study, such as “Telefonica has been able to establish footprints in 24 countries and having an average of 120,000 professionals with consolidated revenues of 24,957 million euros in January-June 2014 and more than 315.7 million customers at June 2014”

Additionally, the reasons the student outlined as the likely motivators for Telefonica to launch first in Latin America before making entries in Europe cannot be justified, as they have not been argued appropriately. For instance, in suggesting political developments, taking policy advantage and the fact that the markets shared a common language, the student should have discussed the concept of psychic distance and the related theory, such as the Uppsala Model Theory.

Business is an essential aspect of today’s evolving world. It is a lucrative industry that impacts many sectors, including education. Business-related courses are popular as many students are pursuing the…  Read More

How to write an anthropology essay perfectly?

Stuck with an anthropology essay with no help in sight? Anthropology essay writing is not a simple task. Not many college students can handle such a paper. An anthropology essay…  Read More

• Essay Tips&Tricks

All About Persuasive Essay Writing

Writing a persuasive essay requires expressing your viewpoint and convincing readers of its rightfulness. Many struggle with completing this type of written assignment because of a lack of proper writing…  Read More

• Essay Writing Guides

Table of contents

• Entertainment
• Environment
• Information Science and Technology
• Social Issues

Home Essay Samples

Essay Samples on Business

The majority of essays on business will deal with more than one discipline because college professors will ask to explore it all from management styles and leadership to economics and corporate legislation. You may choose at least one subject by focusing on the various challenges related to business difficulties. Always start with the essay type that you must submit as it will help you learn more about the structure. See at least one free business essay example to learn more about the range of topics that can be addressed. Even if you are still undecided on your subject, study the structure and check how citations have been formatted. When you are starting with an essay on business, provide your readers with background information and an explanation of the problem. You may also talk about HR management issues or business processes that have already taken place. If you choose an existing business case study, think about the best solutions by explaining why they will work. It can become your thesis statement that will be supported in your body paragraphs. If there are opposite opinions, do not forget to include a counter-argument paragraph to keep your business essay unbiased as you explore!

What is Entrepreneurship in Your Own Words

What is entrepreneurship in your own words? To me, entrepreneurship is the art of turning imagination into reality, the courage to chart unexplored territories, and the commitment to leave a lasting mark on the world. It's a journey of boundless creativity, relentless innovation, and unwavering...

• Entrepreneurship

What is Entrepreneurship: Unveiling the Essence

What is entrepreneurship? This seemingly straightforward question encapsulates a world of innovation, risk-taking, and enterprise. Entrepreneurship is not merely a business concept; it's a mindset, a journey, and a force that drives economic growth and societal progress. In this essay, we delve into the multifaceted...

Social Entrepreneurship: Harnessing Innovation

Social entrepreneurship is a transformative approach that merges business principles with social consciousness to address pressing societal challenges. This unique form of entrepreneurship goes beyond profit-seeking and focuses on generating innovative solutions that create positive change in communities. In this essay, we explore the concept...

Evolution of Entrepreneurship: Economic Progress

Evolution of entrepreneurship is a fascinating journey that mirrors the changes in society, economy, and technology throughout history. From humble beginnings as small-scale trade to the modern era of startups, innovation hubs, and global business networks, entrepreneurship has continuously adapted to the dynamic landscape. This...

Importance of Entrepreneurship: Economic Growth and Societal Transformation

Importance of entrepreneurship transcends its role as a mere business activity; it stands as a driving force behind innovation, economic growth, and societal transformation. Entrepreneurship fosters the creation of new products, services, and industries, while also generating employment opportunities and catalyzing economic development. This essay...

• Economic Growth

Stressed out with your paper?

Consider using writing assistance:

• 100% unique papers
• 3 hrs deadline option

Entrepreneurship as a Career: Navigating the Path of Innovation

Entrepreneurship as a career is a compelling journey that offers individuals the opportunity to create their own path, shape their destiny, and contribute to the economy through innovation. While the road to entrepreneurship is laden with challenges and uncertainties, it is also marked by the...

Corporate Entrepreneurship: Fostering Innovation

Corporate entrepreneurship represents a strategic approach that empowers established organizations to embrace innovation, take calculated risks, and explore new opportunities. In an ever-evolving business landscape, the concept of corporate entrepreneurship has gained prominence as companies seek to maintain their competitive edge and adapt to changing...

Challenges Faced by Entrepreneurs: Innovation and Success

Challenges faced by entrepreneurs are a testament to the intricate journey of turning visionary ideas into tangible realities. While entrepreneurship is often associated with innovation and opportunity, it's also characterized by a multitude of hurdles and obstacles that test an entrepreneur's resilience and determination. In...

300 Words About Entrepreneurship: Navigating Innovation and Opportunity

About entrepreneurship is a dynamic journey that involves the pursuit of innovation, creation, and the realization of opportunities. It is the process of identifying gaps in the market, envisioning solutions, and taking calculated risks to bring new products, services, or ventures to life. Entrepreneurs are...

What is Community Development: Exploring the Essence

At the heart of every thriving society lies the concept of community development. It's a term often mentioned, but its true depth and significance go beyond mere surface definitions. Community development is a multifaceted approach that encompasses empowerment, inclusivity, collaboration, and sustainable progress. This essay...

• Community Development

Navigating HR Career Goals with Purpose

HR career goals encompass the ambitions of individuals who are drawn to the dynamic realm of Human Resources, driven by a passion for cultivating a harmonious workplace, nurturing talent, and fostering organizational success. In a rapidly evolving business landscape, a career in HR holds the...

• Career Goals
• Human Resources

For or Against Setting Long-Term Goals to Land a Dream Job

The pursuit of a dream job is a journey that ignites aspirations, ambitions, and the desire for professional fulfillment. At the heart of this endeavor lies a critical decision: should one set long-term goals to navigate the path towards their dream job? This debate has...

• Dream Career

The Importance of Community Development

The importance of community development cannot be overstated in the ever-changing landscape of our interconnected world. Community development goes beyond physical infrastructure; it encompasses the cultivation of thriving neighborhoods, empowered individuals, and resilient societies. This essay explores the multifaceted importance of community development, shedding light...

How Education Contributes to Community Development

How does education contribute to community development? This question lies at the heart of understanding the intricate relationship between education and the progress of societies. Education is not only a means to personal growth but also a powerful catalyst for collective advancement. This essay explores...

The Essence of Community Development: Fostering Growth and Empowerment

About community development, it's a transformative process that empowers individuals, strengthens connections, and creates a foundation for sustainable progress. Community development is more than just infrastructure projects; it's about nurturing social cohesion, enhancing quality of life, and fostering a sense of ownership and pride among...

Effective Dispute Resolution and Crisis Management

In the realm of complex human interactions, conflicts and crises are inevitable. Dispute resolution and crisis management play crucial roles in maintaining stability, fostering collaboration, and preventing situations from spiraling out of control. This essay delves into the strategies and principles that underpin effective dispute...

Community Responsibility: Culture of Care and Accountability

Community responsibility is a cornerstone of building strong, resilient, and harmonious societies. This essay delves into the significance of community responsibility, its role in fostering positive change, the benefits it brings to individuals and communities, and the ways in which individuals can actively contribute to...

• Accountability
• Responsibility

Marketing Career: Crafting Triumph through Creativity and Strategy

The modern world is an intricate web of connections and communications, and at its core lies the vibrant marketing career. In this essay, we embark on a journey through the exciting realm of marketing, exploring its multifaceted nature, the skills it demands, and the opportunities...

What I Learned in Operations Management: Insights and Perspectives

Introduction Operations management is a multidisciplinary field that plays a vital role in the success of organizations. As I embarked on my journey in operations management, I gained valuable insights into the principles, strategies, and challenges that shape efficient and effective operations. This essay reflects...

• Knowledge Management
• Operations Management

KFC Operations Management: Delivering Finger-Lickin' Good Efficiency

This essay has shed light on the intricate world of KFC's operations management, highlighting how the brand's dedication to quality, innovation, and process optimization enables it to serve up its iconic chicken meals to hungry customers around the globe. Introduction KFC operations management goes beyond...

Advantages and Disadvantages of The Google's Strategy: Branding Diversity Benefits

Google, as one of the world's leading technology companies, has strategically incorporated diversity and inclusion into its branding approach. This essay examines the advantages and disadvantages of Google's strategy in utilizing branding diversity benefits. By analyzing the benefits and potential challenges of this approach, we...

10 Critical Decisions of Operations Management

Introduction Operations management plays a pivotal role in the success of organizations across various industries. It involves making a series of critical decisions that impact efficiency, quality, and profitability. These decisions are fundamental to achieving organizational goals and ensuring smooth operations. This essay aims to...

Why I Chose Marketing Management as My Career Path

Why did you choose marketing management? The choice of a career path is a pivotal decision that shapes one's professional journey and aspirations. Among the myriad of possibilities, I chose marketing management as my chosen field — a decision rooted in passion, aptitude, and the...

• Marketing Management

Why Androids Are Better iPhones: An Argument in Favor of Android's Superiority

The debate between Androids and iPhones has persisted for years, with proponents of each side staunchly defending their preference. While iPhones have a dedicated fan base, this essay aims to present a compelling argument in favor of Androids, highlighting their flexibility, customization, affordability, and compatibility...

What Type of Leader I Am: Examining My Leadership

What type of leader are you? This question delves into the unique qualities, values, and approaches that define my leadership style. As a leader, I recognize that my actions and decisions influence others, and understanding my leadership style is crucial for effective collaboration and impact....

• Leadership Styles

The Role of Advertising in Society: Functions and Effects

Advertising has become an omnipresent force in modern society, shaping our perceptions, influencing our choices, and impacting our culture. This essay delves into the multifaceted role of advertising in society, exploring its functions, effects on consumers, and broader implications for culture and the economy. Functions...

• Advertising

The Importance of Time Management for Students

Time management is more than just a buzzword; it is a critical skill that shapes the academic and personal success of students. Balancing coursework, extracurricular activities, social engagements, and personal commitments can be overwhelming, but effective time management empowers students to make the most of...

• Time Management

The Importance of Teamwork in an Organization

Teamwork is the cornerstone of successful organizations, driving collaboration, innovation, and achieving shared goals. In today's complex and interconnected business landscape, individual brilliance alone is not enough; it is the synergy of diverse talents that propels organizations forward. This essay explores the importance of teamwork...

Overview of the Qualities of a Good and Effective Team Member

Being a part of a team can be a rewarding and fulfilling experience, but it also comes with responsibilities. A good team member is not just someone who shows up and completes their tasks; they possess certain qualities that contribute to the overall success of...

My Experience Working in a Group: a Reflection

When it comes to collaborative efforts, the phrase "my experience working in a group" undoubtedly resonates with many individuals who have had the opportunity to work in teams. Group work is a ubiquitous aspect of education, professional settings, and even social engagements. In this essay,...

How to Resolve Conflict Without Violence: Building Peaceful Communities

Conflict is an inevitable aspect of human interactions, and while disagreements are a natural part of life, it is essential to address and resolve them without resorting to violence. By employing effective methods and strategies, individuals and communities can navigate conflicts constructively, fostering harmonious relationships...

• Conflict Resolution

How to Be an Effective Leader: Guiding with Excellence

Becoming an effective leader requires more than just holding a position of authority; it entails embodying qualities that inspire and guide individuals toward shared goals. Whether leading a team, an organization, or a community, effective leadership is marked by the ability to foster collaboration, motivate...

• Effective Leadership

How to Be a Successful Entrepreneur

Becoming a successful entrepreneur is a pursuit that requires a unique combination of skills, mindset, and strategic planning. Whether you're embarking on a new venture or aiming to grow an existing business, the entrepreneurial journey is filled with challenges and opportunities. This essay delves into...

• Business Success

How to Be a Good Leader: The Path to Effective Leadership

Leadership is a multifaceted skill that involves guiding and inspiring individuals or groups toward a common goal. While leadership styles may vary, there are essential qualities and practices that define effective leadership. In this essay, we will explore how to be a good leader, discuss...

How to Be a Good Employee: Core Qualities

Being a good employee goes beyond simply fulfilling job responsibilities; it involves a combination of skills, attitudes, and behaviors that contribute to a positive and productive work environment. Whether you're starting a new job or aiming to excel in your current role, embodying certain qualities...

Exploration of the Importance of Safety in the Workplace

Safety in the workplace is more than just a legal obligation; it is a fundamental responsibility that impacts the well-being of employees, the success of organizations, and the overall work environment. Prioritizing safety not only prevents accidents and injuries but also fosters a culture of...

Automation and the Future of Workforce: Benefits and Challenges

The advent of automation, driven by technological advancements such as artificial intelligence and robotics, has ushered in a new era in the world of work. As machines take on tasks that were once performed by humans, questions arise about the implications of automation on the...

Apple vs. Microsoft: A Compare and Contrast Analysis

Apple and Microsoft are two giants in the technology industry, each with a distinct approach to innovation, design, and user experience. While both companies have left an indelible mark on the digital landscape, they differ in their philosophies, ecosystems, and product offerings. This essay delves...

• Microsoft Corporation

Advantages and Disadvantages of Online Advertising: Navigating the Digital Marketplace

In today's interconnected world, online advertising has become an integral part of business strategies, revolutionizing the way companies promote their products and services. With its potential to reach vast audiences, online advertising offers a range of advantages and disadvantages that shape the dynamics of the...

• Marketing and Advertising

A Visit to the Grocery Store: My Recent Experience

Visiting the grocery store is a routine activity for most people, but it's also an opportunity to experience the variety and abundance of products available to us. In this essay, I will share my recent experience of a visit to the grocery store, highlighting the...

• Grocery Store
• Personal Experience

Mastering Life's Clock: The Art of Time Management

Time is an invaluable resource that flows ceaselessly, indifferent to our pursuits and priorities. In a world characterized by fast-paced living and numerous responsibilities, the skill of time management has become more crucial than ever. This essay delves into the art of time management, exploring...

Are Leaders Born or Made: the Nature vs Nurture Debate

Are leaders born or made? This age-old question has ignited debates, discussions, and exploration into the realms of leadership. The inquiry into whether leadership is an innate trait or a cultivated skill has intrigued scholars, practitioners, and curious minds. This essay delves into the heart...

• Leadership Development

Analysis of the Role of Social Media as a News Source

The topic of whether social media is a harmful or beneficial source of news has become increasingly relevant in our digital age. Platforms like Facebook, Twitter, and Instagram have revolutionized the way we access and consume information, shaping the news landscape in unprecedented ways. However,...

• Social Media

Religion and the Death Penalty: A Complex Intersection

Introduction The death penalty, as one of the most contentious issues, intersects significantly with various world religions, each of which has its own perspective on capital punishment. This religion and the death penalty essay aims to explore the complex relationship between various religious beliefs and...

• Comparative Analysis
• Death Penalty

A Comparative Analysis of "Fences" and "Death of a Salesman"

August Wilson's "Fences" and Arthur Miller's "Death of a Salesman" are two iconic plays that delve into the complexities of human relationships, aspirations, and the pursuit of the American Dream. This essay offers a comparative analysis of these two works, highlighting the similarities and differences...

• Death of a Salesman

Life Imprisonment vs Death Penalty: A Comparative Analysis

Introduction In societies around the world, two primary forms of punishment are designated for the most severe crimes: life imprisonment and the death penalty. This life imprisonment vs death penalty essay seeks to scrutinize these two forms of punishment, considering their effectiveness, moral implications, costs,...

"The Crucible": Difference Between Movie and Play

Introduction Arthur Miller's "The Crucible" is a significant piece of American literature that was later adapted into a film. The original play, written in 1953, explores the hysteria and irrationality of the Salem Witch Trials that took place in the late 17th century in Massachusetts,...

• The Crucible

McCarthyism and "The Crucible": A Comparative Analysis

Introduction Arthur Miller’s "The Crucible," a dramatic reimagining of the Salem witch trials, was penned during a political climate thick with the fear and paranoia of McCarthyism. In the early 1950s, Senator Joseph McCarthy’s fervent hunt for Communists in the United States mirrored the witch...

• Mccarthyism

Stellantis and Samsung SDI's Joint Battery Plant: the EV Revolution in the US

On July 24, 2023, Stellantis and Samsung SDI announced plans to open their second joint battery plant in the United States. This comes just two months after the companies revealed their first joint factory would be built in Kokomo, Indiana. The rapid expansion underscores the...

• Electric Vehicle

The UPS Teamsters Strike: Navigating Negotiations and Economic Impact

The Looming UPS Teamsters Strike After months of negotiations, the UPS Teamsters union and UPS management reached a tentative agreement on July 26, 2023, potentially averting a nationwide strike. The Teamsters strike had been authorized for early August if a deal was not reached, which...

• Employee Engagement

How Twitter's Rebranding to X Signals a Shift in Strategy

Twitter's recent rebranding to X by new owner Elon Musk signals a significant shift in strategy for the social media platform. Musk has long envisioned transforming Twitter into an "everything app" similar to China's WeChat, offering a wide range of services beyond social networking. The...

Elon Musk's Twitter Takeover and Reforms: an Overview

Elon Musk's Acquisition of Twitter In October 2022, billionaire Elon Musk completed his acquisition of social media platform Twitter for $44 billion. Musk took over as CEO with ambitious plans to reform Twitter's products, features, algorithms, content policies, and workforce. His tenure has proven controversial...

The Relationship Between Jeff Bezos and Lauren Sanchez

In the realm of opulence, Jeff Bezos, the visionary founder and CEO of the gargantuan entity known as Amazon, proudly claims his throne as one of the world's wealthiest individuals. A seismic shift occurred in 2019 when he unveiled to the public his entanglement with...

The Importance of Service: Unlocking the Essence of SERVQUAL Model

Introduction The importance of service quality in the food and beverage industry has been widely recognized in the literature, as demonstrated by Hugh, Bill & Carmel (2007) and Parasuraman (1985). The value of service to the customer is a key aspect of service quality, encompassing...

• Customer Service

The Importance of Trust in Building Strong Workplace Relationships

Trust is built on consistency as we interact with different kinds of individuals and build relationships with them based on desire behaviors and attitudes. A lack of trust leads to the desire to control a situation oneself as you believe the only person you can...

• Organizational Culture

Why Being Respectful to Your Co-Workers is Good For Business

As a worker at the bakery I decide to share my personal experience and reflection on statement which says: 'being respectful to your co-workers is goog for business', here in my essay.  At my current job, there are a few examples of incivility that I...

Why Online Shopping Is Better Than In Store Shopping: a Comparison

Information and communication technologies have a huge influence on modern society, changing how as well as where people work, shop and other ways of our lives. It is not a surprise to see how people are now choosing online shopping instead of in-store shopping. Especially...

• Online Shopping

The Role of Service Culture in Customer Loyalty

Introduction The purpose of this essay is to explain how successful or unsuccessful service culture may contribute to negative and positive encounters. I believe that customer service plays a huge role in customer loyalty. I will be sharing my delightful experience with Changi Airport Group...

The Importance of Brand Loyalty in Business Success

Brand loyalty reflects the connection between a product and a customer's willingness to repeatedly purchase it. A customer is considered loyal when they show commitment to a specific brand, indicating positive sentiments towards the product or company. Loyalty is demonstrated through consistent support for a...

• Brand Management
• Consumer Behavior

Tesla: SWOT Analysis of the Leading Electric Vehicle Manufacturer

Introduction Tesla, the renowned electric vehicle manufacturer, has been at the forefront of revolutionizing the automotive industry. With its innovative technologies and sustainable approach, Tesla has not only disrupted the market but also inspired a shift towards cleaner transportation alternatives. By conducting Tesla SWOT analysis,...

• SWOT Analysis
• Tesla Motors

Analysis of President Barack Obama as a Leader

Successful leaders possess distinct traits and qualities that set them apart. One such leader is Barack Obama, who exemplifies several key leadership characteristics. Inspirational communication, unwavering conviction, and a willingness to take risks are among the qualities that have contributed to Obama's success. Furthermore, Obama's...

• Barack Obama
• President of The United States

An Overview of Tesco: SWOT Analysis and Recommendations

Introduction This essay examines Tesco, one of the leading retailers in the United Kingdom, through a SWOT analysis. We will explore its history, market dominance, and global presence in simpler terms for easy understanding. Additionally, we'll evaluate Tesco's internal strengths and weaknesses, along with the...

Hospitality Work Experience: Skills Development and Effective Communication

Introduction First-year students were given an opportunity to have work experience in the Front of House, Food and Beverage and Housekeeping departments during November and December. Therefore, I chose to take this opportunity to gain experience in all of following departments shown previously. I thought...

• Hospitality
• Work Experience

Taylor Swift: Mastering the Art of Iconic Branding and Marketing

The Power of Taylor Swift's Brand In contrast to Sam Smith and Liam Gallagher, who adhere to conventional marketing and publicity campaigns (Music Week), Taylor Swift has ascended to the status of an iconic legend, boasting an impressive track record of five #1 singles as...

• Marketing Strategy
• Music Industry
• Taylor Swift

Timing the Road to Stardom: The Inspirational Journey of Octavia Lenora Spencer

In the ever-evolving journey of success, timing plays a crucial role. Some individuals find their breakthroughs early in life, while others encounter success later on. Octavia Lenora Spencer, the renowned American actress, offers an excellent example of how success unfolds in its own time. Her...

Significance of Black Inventions That Changed the World

Introduction Many people have heard about famous inventions, such as the lightbulb, the steam engine, and the iPhone. The list is, in fact, endless and impressive. However, although we use many products and inventions in our lives, we don't give thought to who made it...

• African American History

From Invention to Revolution: Karl Benz and Henry Ford

Introduction The automobile's history informs of how a, then small, three-wheeled machine has turned into the world’s most used form of transportation. It has improved greatly over the years and has become a vital means of transportation. The automobile has been improved greatly over lots...

• Ford Motor Company

Henry Ford's Inventions and Impact on the Industry

Introduction Henry Ford was one of the most important entrepreneurs the United States of America has seen. This is largely due to the fact that his genius innovative thinking is what allowed for the mass production of cars. He is known by many people as...

Henry Ford: The Man and His Automotive Legacy

Henry Ford: The Man Behind the Cars Henry Ford was an American industrialist, the owner of plants for the production of cars around the world, an inventor, and an author of 161 US patents. He was born in Springwells Township, Wayne County, Michigan. Henry made...

International Business Success: A Case Study of Starbucks

Introduction The article analyzed is “Starbucks CEO Kevin Johnson on Work, Joy and Yes, Coffee” was written by Adi Ignatius. This article was published in the Harvard Business Review, posted September 23, 2019 and was updated September 26, 2019. Area of International Management  The area...

• Article Review
• Business Analysis

Assessing CSR's Impact on Profitability: Article Review

Introduction “Social responsibility of business is to increase its profits as long as it stays within the rules of the game” (Friedman 1962). This quote represents the view of renowned economist Milton Friedman. It can be said that this view is only limited to one...

• Corporate Social Responsibility

Analysis of the Key Elements of the Modern Workforce Development 

Workforce development has been a public-private sector partnership for over a century and though it has taken various forms, it has always been directly involved with the public school system. One of the earliest forms it took was in the way of training agreements. These...

The Sharing Economy - a New Paradigm in Consumerism

With the rise in technology, people are able to communicate and conduct business through the use of the Internet and social networks. This has led to a sharing economy, where consumers can connect and exchange goods and services. Starting a company in a shared economy...

• Effects of Industrialization

Indian Retail Wine Industry: Opportunity for Growth and Development

This paper studies the factors favouring the growth of the Indian retail wine Industry in Mumbai. With the rapid increase in wine consumption amongst the 20-30 year-olds due to high disposable incomes and enhanced lifestyles, wine is seen to be gradually moving away from the...

Summer Placement Experience: Working in the Planning Sector

The summer placement provided by the university was a great opening for me to learn about the real-life situations occurring in the planning industry. Accordingly, to suit my schedule, I did a full-time based internship starting from 17th December 2019 until 11th February 2020 (i.e.,...

The Ketan Parekh Fraud and Supervisory Lapses: Case Study

The Ketan Parekh scam was the second most important scam that shook the Bombay Stock Exchange (BSE) after the Harshad Mehta scam. Ketan Parekh was himself a mentee of Harshad Mehta and had learned stock trading from the pied piper of Bombay Stock Exchange himself....

• Legal cases

Daniela's Law Case Study: Employee or an Independent Contractor

The issue based on the facts is to determine whether Daniela whom has been working with Fragrant is considered to be an employee or an independent contractor. The illustration of whether she was treated as an employee or an independent contractor is raised through a...

The Sharing Economy in Australia and the Associated Tax Obstacles

The 'sharing economy' is a term that describes individuals utilizing web applications to lease their property, assets, time and skills. Sharing economy stages enable users to monetise the estimation of surplus limit in the utilization of advantages or work, for instance, vehicles or transportation administrations....

A Brief Analysis of Samsung's Marketing Aim and Strategies

Samsung is a world famous brand that has been made popular not because of the products, but also their innovation in technology. It’s the seventh most valuable brand in the world. Myself I believe this is due to the marketing mix of the company which...

Complexities and Differences Between Traditional and E-Retailing

Retailing is a method of distribution process, in which all the operations involved in the marketing of the goods are sold directly to the end customer. It is include the person who has intention to buy the product and the selling of goods or services...

• Shopping Mall

Modern-Day Saviour: How the Retail Industry Makes Our Lives Easier

Retail is that the method of selling commodity or services to customers so as to form a profit through multiple distribution channels. Retailers meet the demand identified by a supply chain. The term 'retailer' is usually applied where a service provider fills the tiny orders...

The Role of a Clinical Psychologist in Treating Problem Drinking: Examining Effective Therapeutic Approaches

Problem drinking is not necessarily alcoholism; alcoholism is, however, a form of problem drinking. For a problem drinker when they drink it can cause problems for them and those around them, but they are not necessarily physically dependent on alcohol. They may be able to...

• Job Description
• Psychologists

Historical Perspective on Changes in Institutional Diversity

Path dependency, according to Roe, makes it difficult for institutions to converge, due to each economy's historical and political legacy. In the US, the result of distributed ownership prevalence can be attributed to their political inclinations to reject concentrated industrial and financial monopolies by their...

• Corporate Governance

When News Media Goes Wrong: the Dangers of Misinformation

The news media serves as a conduit, bringing global events to the public's attention. Particularly when individuals lack direct experience or knowledge of ongoing occurrences, they tend to heavily rely on the media for information. It is not to suggest that the media dictates our...

• Media Influence

The Business of News: Media Ownership and Journalism

Media ownership plays a significant role in shaping the news and information that is presented to the public. In recent years, there has been a growing concern over the concentration of media ownership and its impact on journalism. This essay will explore the relationship between...

Misleading Marketing Schemes in Australia and Their Impact

Marketing is the culprit of generating obesity. Marketing is detrimental to children’s health. Marketing is the culprit. Our country has been slammed with misleading marketing schemes and it is unacceptable. Marketers are using popular methods to wrongly entice young children to buy their products. An...

• Advertisement

Combination of Success: the Blend of Marketing and Customer Value

Marketing can be broadly defined as the communication channel linking a product or service to the targeted customers. Creation of value for customers is a critical task for marketers. From a customer's perspective, customer value is what they 'get' (benefits) relative to what they have...

Automotive Energy Industry: Analysis of Tesla Motors

Many societies are sorely dependent on economies they have set up towards sustenance in the world which are in turn backed up by different kinds of industries. The Automotive Energy Industry is one of the most important among all other kinds of industries out there...

Ensuring Workplace Health and Safety for an Ageing Workforce

In this essay I will be looking at what measures need to be put in place in the workplace to comply with regulations to Health and Safety that has an ageing workforce. I will be looking at various websites (see reference section) and will be...

Omnichannel Retailing: Blurring the Lines Between Online and Offline

In this current era, the retail marketplace had undergone remarkable changes in the field of online marketing and retailing. With the advancement in technology, online retail has grown to be an excellent selection which redefines the practice of retail. The most recent digitization movement led...

Overview of the Basis and System of German Corporate Governance

In Charkham, the author states that on a scale with 'confrontation' on one side and 'co-operation' on the other, German approach to corporate governance would fall on the co-operation side, much further this way inclined than or the US. In Germany, large companies fall into...

• Organizational Structure

Work Experience Placement: Preparation for Work With Vulnerable Children

I will do my work experience placement in a nursery while working one-on-one with children with special needs. Patience is one of the abilities I will need during my stay at St. Baranabas Nursery. Patience is essential when working with children with special needs because...

The Possibility of Developing Green Retail Marketing: Study Review

Green marketing has been a topic of research for about last five decades. With a lot of buzz around the carbon foot print of producers, many major organisations have started adapting sustainable ways to give their customers products that are innovative and environment friendly. Some...

• Environmental Protection

Employee Engagement in the Context of the Virtual Workforce

Gone are the days when employees were expected to report to work on time. During these bygone times employee engagement was a manageable challenge. However, the changing dynamics of the workplace which supports work-anytime, anywhere, in real space or in cyberspace has not come without...

Empowering Employees: the Benefits of a Self-Managed Workforce

Exponential growth in technology is on the rise and companies are in the midst of radical change. In fact, technology is so pronounced in todays’ workforce, that new trends are beginning to develop as a response. Such trends include a lack in motivation where there...

Effective Corporate Governance as a Tool for Company Improvement

Corporate governance is a system or mechanism used to direct or control an organisation. Corporate governance affects the way a corporation is directed, administered, or controlled. A company, especially a large enterprise is run under the separation of ownership and control concept which is owned...

A Critical Role of Corporate Governance System in Banks

Corporate governance in banks is a critical issue that has garnered significant attention in recent years. Banks are essential financial intermediaries that play a crucial role in the economy, and their stability is essential to ensure financial stability in the broader economy. Therefore, it is...

Unmasking Fox News: Exploring the Reliability of Mainstream Media

Billions of people in the world rely on the news to inform them what is going on in the world. People use many different ways to get their news such as the news channel, news papers, news app on their phones, or social media. One...

• Media Analysis

The Complete History of Media: Types of News Media and Their Role

Before writing, before technology or even before the internet came to be relevant, news media began with the basics—through speaking and exchanging information with others in real life. Through many revisions and early developments of mass media, we can see professional standards being made. Mass...

A Few Marketing Plans to Strengthen Malaysia Airlines’ Brand

Amongst a few marketing plans that Malaysia Airlines’ could apply is consumer orientated sales promotion. In applying consumer orientated promotion, Malaysia Airlines’ can offer price-off deals on their plane tickets. Consumers are usually price sensitive, hence with applying price-off deals, consumers’ purchase decisions would be...

• Marketing Plan

Best topics on Business

1. What is Entrepreneurship in Your Own Words

2. What is Entrepreneurship: Unveiling the Essence

3. Social Entrepreneurship: Harnessing Innovation

4. Evolution of Entrepreneurship: Economic Progress

5. Importance of Entrepreneurship: Economic Growth and Societal Transformation

6. Entrepreneurship as a Career: Navigating the Path of Innovation

7. Corporate Entrepreneurship: Fostering Innovation

8. Challenges Faced by Entrepreneurs: Innovation and Success

9. 300 Words About Entrepreneurship: Navigating Innovation and Opportunity

10. What is Community Development: Exploring the Essence

11. Navigating HR Career Goals with Purpose

12. For or Against Setting Long-Term Goals to Land a Dream Job

13. The Importance of Community Development

14. How Education Contributes to Community Development

15. The Essence of Community Development: Fostering Growth and Empowerment

Need writing help?

You can always rely on us no matter what type of paper you need

*No hidden charges

100% Unique Essays

Absolutely Confidential

Money Back Guarantee

By clicking “Send Essay”, you agree to our Terms of service and Privacy statement. We will occasionally send you account related emails

You can also get a UNIQUE essay on this or any other topic

Thank you! We’ll contact you as soon as possible.

How to Build a Successful Foundation for Your Entrepreneurial Career

We all have grandiose visions –  sitting on a beach with a cool drink in hand, the Lambo valeted nearby as we gaze out at the pristine, crystal clear waters. Or maybe you’re more of a lakeside villa kinda gal or guy with the Rolls parked in the driveway. The fact is, when you launch your entrepreneurial dream, you see yourself doing big things. You envision the big prizes and the irresistible lifestyle that awaits you. 

While we all want to experience the rewards from what we build, we must first firmly establish ourselves with a structure that positions us for future success. You need a game plan to get you there. That means your entrepreneurial success is predicated on a foundation that positions you for enduring success, even in ever-changing market conditions.

Most entrepreneurs have big ideas for living the dream – but lack a plan. So, what does that plan look like? It focuses on the fundamentals you need to build self-confidence, gain clarity around your service offering/product, and construct your business plan . We’re talking about honing in on what you do well, how you’ll define success, and ensuring that you set achievable goals. This means doing the marketing work to determine what sets you apart from your competition and why they should buy from you are essential to success.

Are you ready to get started? Let’s dive in.

Post Contents

Passion 

Fortifying your foundation for good times and bad, trust your experience, marketing and social media, concluding thoughts, want to learn more.

Start selling online now with Shopify

Build Your Foundation

When we build a foundation, we do so because we’re looking to achieve RESULTS . We want to create a solid position to operate from for future success. I call it using a “Game Plan” that primes you to take action and do so with increased confidence and conviction.

Your passion is the thing that lights the fire inside of you and brings you indescribable joy and enthusiasm. It’s more than just a “hunch.” It’s a powerful emotion you can use to harness toward the goals and objectives you hope to achieve.

Examples of passion could be: 

• A love for music
• Interactive gaming 
• Creating an unforgettable experience for customers

Think of a strength as something you do well that either comes naturally to you or has been acquired as a skill along your journey. Research from Clifton StrengthsFinder shows that leaning into your strengths and using them to your advantage leads to greater gains and growth. This applies to your entrepreneurial journey by understanding what you do well and getting feedback from others to guide you.

Examples of strengths could be: 

• Communication (verbal and written) 
• Visual design
• Product marketing
• Decision-making

Values are perhaps the most foundational aspect of building your entrepreneurial career. They’re the time-tested core components that keep you grounded, self-aware, and firm in your beliefs and actions. As life around us changes, values serve as the constant that center us and help align us with our purpose.

Examples of values include: integrity, honesty, courage, discipline, confidence, perseverance, competitiveness.

As Simon Sinek has famously written about, your purpose is your “Why” for living. If you’re going to expend time, energy, and resources into an entrepreneurial venture, you’re best-served to understand why you’re doing it. When you’re clear and purpose-driven, you’re operating from a tremendous position of confidence and fortitude.

Examples of purpose: 

• To improve the way people communicate and help people forge greater connections with those they love
• To increase access to online learning at a low cost 
• To improve the physical well-being of people and help them find greater happiness

Every great business and startup has a mission. So should every entrepreneur. A mission is about what you do, who you’re looking to serve, and how you will define success – leading to the big goals you want to achieve. Think big-picture, not isolated to just a short-term task.

Examples of mission: 

• To make a living that supports me and my family and allows me the freedom to work anywhere in the world 
• To invent new products for the marketplace that enriches the lives of other people
• Growing and learning every day while providing those I lead with the benefits of a continuing education

You own your goals and they should lead directly to the exact results you want to achieve. Again, think of the big picture here. You can plan your results first and create goals that form the bridge to achieve those. Goals are time-based and should be things that you can achieve within reason. Don’t set goals that are far beyond your current abilities. Validate your goals with fellow entrepreneurs and people you trust. Keep setting them daily, weekly, monthly, and yearly. And don’t forget to hold yourself accountable.

Think of your foundation in the same way that you would the foundation of a house. 

A house’s foundation is built to be strong enough for the weight of the house, as well as nasty weather that will come its way.

Now, think of how much your foundation matters as an entrepreneur. It’s for the days where you don’t have the motivation, energy, and focus. No matter how much you love what you do, these days will come. Your foundation will ground you when you lose a client or a key business partner decides to part ways. Adversity is going to strike. If you’re unprepared, you can be ruined.

Your foundation is there when changes in the market occur and buying patterns change. And oh yeah – when a massive global pandemic strikes that no one quite knows will end. That, too.

When I launched my career as an executive coach and leadership consultant, I relied heavily on my experience working for one of the top management consulting firms in the world. I’ve played that up in conversations I’ve had to win new businesses and also realized how much that foundation in professional services helped me to create my programs and my business structure. 

Look back at your experiences, skills, and natural talents and blend that with what you’re passionate about. This is where your creative imagination will take flight and allow you to build something unique. It’s about solving a problem that the marketplace needs and continuing to learn, grow, and adapt along the way. As much as you want to do new things, don’t hesitate to be a bit old school. That means creating a business plan.

This shouldn’t be optional. View this as essential. Being able to concisely put into writing exactly what you intend to accomplish is what the pros do. Now, don’t get carried away or get too caught up in the mechanics of it. You can find a simple template online and follow the basics of what you intend to do, the problem you solve, what makes you unique, and how you plan to market your services.

If you’re looking to grow your business when you’re first starting out, social media is a must-have for your marketing foundation. You need to learn how to differentiate yourself. First, it’s worthwhile to brainstorm on how you want to position your brand.

I can tell you that if you’re a creator, you’re going to want people to hear and see your most authentic voice when you’re posting and sharing on social media. Build your strategy around authenticity, your passions, and what makes your expertise unique. You will never, ever go wrong with this strategy.

Part of your social media foundation is a precise strategy of posting and targeting the audience you want to sell to. This means crafting copy that is appealing to them. Be consistent and post once per day during the week. Allow these posts to drive connection. Engage on platforms like Instagram and TikTok to understand and listen to the voice of the customer. This takes patience and empathy and this investment of your time is well worth it.

Trust your intuition but gain feedback from people that you trust in your inner circle and also those that you respect. Push yourself in the beginning to connect with industry leaders and those that you can learn from and can give you honest feedback. Building your foundation means putting your ego to the side and strengthening your core as an entrepreneur. 

Developing marketing strategies that are innovative and modern and continuing to gain brand awareness will differentiate you from your peers. Remember: You may have the greatest product or service, but if no one knows about it,  or can really identify who you are,  it won’t matter.

New to social media? Check out these online courses for entrepreneurs featuring Facebook’s Blueprint and more.

You don’t need to delay your start until you have every single piece in order. Don’t sit on an idea. Get going, but be smart about how you build. The first year for an entrepreneur shouldn’t be viewed as a sprint – it truly is a marathon and you must look at it as the long-game. A foundation sets you up to spend your money wisely, make smart decisions, and set goals that are worth aspiring to.

Marketing strategies evolve. Plans change. But know this – there’s magic in movement and a firm structure will sustain you for a long, successful journey. The most successful entrepreneurs have great self-awareness; they know themselves inside and out and that allows them to identify the right opportunities to pursue. So saddle up for the long haul. And keep your eyes on those powerful visions. You’ll be there soon enough if you build the right foundation for success.

• Social Entrepreneurship: 10 Ways to Make a Difference Through Business
• TikTok Ads: Everything You Need to Know About Marketing on TikTok
• 10 Business Tips for New Entrepreneurs in 2021
• 10 Business Skills All Entrepreneurs Need to Develop in 2021
• Instagram Marketing: The Complete Guide 2021

10 Smart Goal Examples (and How to Use Them)

SMART goals are Specific, Measurable, Achievable, Relevant, and Time-Bound. See 10 examples and learn to write your own.

Personal Finance Blogs: The 25 Best Money Blogs in 2024

Discover the top 25 money blogs for real finance tips. Learn, grow, and get inspired with every read.

31 Passive Income Ideas To Build Wealth in 2024

Find 31 passive income ideas for effortless earnings. Each one allows you to maintain a full-time job while diversifyin…

Oberlo uses cookies to provide necessary site functionality and improve your experience. By using our website, you agree to our privacy policy.

Add Project Key Words

Everything You Need to Know About Business School Essays

Padya Paramita

February 8, 2021

You’ve worked hard to achieve a good GMAT score and beef up your resumé as you prepare to apply to your top-choice MBA programs. While you’ve got those components out of the way, you might still need to work on the element which could make all the difference between an acceptance and a rejection from the admissions committee: your business school essays .

Business school essays are program-specific and are geared towards helping admissions committees understand who you are and how their institution can help you reach your goals. In order to answer these prompts, you need to frame the biggest factors behind your choice of a school in terms of how they align with your personality and aspirations. 

You must take advantage of this essay component to give admissions committee members a concrete and memorable idea of who you are. To guide you through what to expect, we’ve outlined the 2020-2021 prompts for the top 20 MBA programs, how to answer common questions, explained the importance of the essays in the admissions decision, as well as  shared some final tips to aid you through the process.

Prompts for Top Schools

Here’s the thing: not all business schools ask for the same essay. In fact, for most schools, you have to answer multiple short prompts that add up to convey a bigger picture of who you are. While the prompts and word limits differ, they all ask questions which help provide context for other parts of your application, as well as demonstrate how you would fit into the school. Without further ado, let’s look at the prompts for business school essays assigned by the top 20 MBA programs for the upcoming cycle:

As you can see from the table, essay prompts and lengths vary from school to school. One personal statement won’t cover all of the MBA programs on your list! Nor can you copy one essay and directly paste it for another prompt, as you have to be specific to each school and its specialties. 

How to Tackle Common Prompts

Now that you’ve read the prompts for business school essays you’re likely to encounter, it’s time to analyze how to answer them. For any MBA response, it’s important to think about the following:

• Who you are
• What you’ve done so far
• Where you hope to go
• How an MBA from the school of your choice can help you reach your goals

To further break down specific ways to answer some common questions, let’s look at how to answer three typical MBA prompts you’ll almost certainly have to tackle.

The “Why Our School” Essay

Anyone can say they want an MBA from a top school. The “why our school” essay is your chance to convince admissions committees that you’ve done your research on their program and are convinced that this is the institution for you over any other. Each school frames it differently, and assigns their own limits such as:

Penn : What do you hope to gain professionally from the Wharton MBA? (500 words)

Columbia : Why do you feel Columbia Business School is a good fit for you? (250 words)

There’s no beating around the bush. You’ve made a choice to apply to the program, so make it clear why you’ve done so. Writing this essay will also prepare you to confidently back up your decision if you are invited to interview with the school. This is your chance to demonstrate that you know the program and aren’t writing generic statements that can apply to any MBA. Whether it’s Columbia’s J-Term or the Harvard Business School Case Method , know what opportunities you would have at the school whose essay you’re tackling that you can’t find anywhere else. 

Most importantly, remember that this is your business school application. Just outright stating that these resources are great won’t do. You have to tie them to the experiences you’ve had, the kind of business you want to engage with in the future, and how these resources can help you get where you want in your career. How can the school of your choice help you hone your teamwork skills? Is there a particular leadership program at the school that can benefit your long-term plans? Show the admissions reader that you know the opportunities inside out, that you’re aware of exactly which fellowships or seminars are perfect for you, and in turn, outline how you can contribute to the class environment.

The Career Goals Essay

For a lot of schools, the career goals and “why our school” questions are fused in one prompt. A few of the top schools ask you to write about where you see yourself at various points in the future:

Michigan: Michigan Ross is a place where people from all backgrounds with different career goals can thrive. What is your short-term career goal and why? (200 words)

UVA : What is your short-term, post-MBA goal and why? (150 words)

While attending business school and receiving an MBA can open you up to new career possibilities, admissions committees want to know that you’re an ambitious, reflective, and driven individual. Since you’ve probably taken time to step into the workforce for a few years, you should use this prompt to connect these dots and your forward-looking vision. If your word limit is restricted, don’t focus too much on the past. Mention the most meaningful aspects of your work experience or the field you wish to join, describe your biggest aspirations, and how an MBA from that specific school can help you get there. If a school has asked the “why our school” and career goals questions separately like Columbia has, make sure you haven’t repeated any information; each essay should convey something new.

Similar to the “why our school” question, the career goals essay also provides great practice for your interviews because schools will undoubtedly want to hear more extensively about what you’ve done where you plan to go, and how the institution fits into it all. A carefully written response can help you set up a compelling answer for your interview. So, make sure you don’t exaggerate or write about anything you can’t elaborate on if faced with the question in person.

The “Tell Us Who You Are” Essay

The “tell us about yourself” or “introduce yourself” questions for business school essays can seem broad. Where do you even start? Schools frame this type of question very simply, or sometimes in unconventional ways:

UT Austin : Please introduce yourself (250 words) 

NYU : Describe yourself to the Admissions Committee and to your future classmates using six images. 

However worded, it’s time for you to reflect on what makes you a unique, memorable candidate when compared to thousands of others from all over the world.

The key to writing such an essay is to stay organized. Don’t write down every single thing you’ve ever done in your response. Take a hint from the Cornell Johnson prompt: “Please help us get to know you better by sharing ONE example of a life experience, achievement, or passion that will give us a sense of who you are as a potential community member.” When you’ve got limited words and readers with very little time on their hands, you need to narrow it down to the most compelling aspect about yourself. 

Think about leadership opportunities, honors and awards, and your family background. You could talk about your biggest passion and how it arose, you could talk about any experience which has shaped your perspective, or you could talk about your family background and how it has directed your career choices. No matter what you cover in your essay, you have to make sure it paints a memorable picture. Using anecdotes to drive your points home is an effective way of showing rather than telling. If you want to talk about work experience, make sure you’re not just writing about how you worked at a consulting firm where hundreds of your peers have also worked. It won’t help distinguish you to admissions officers. In fact, it might just do the opposite. You have to find a unique spin.

Make sure your response has a clear focus, so that the admissions committee members will be able to remember you easily once they’ve finished reading.

The Importance of Your Business School Essays: What Admissions Officers Look For

Your business school essays make up one of the most important components of your application, as they provide admissions committees the chance to understand your personality, figure out what matters to you, and gauge whether you would be a good fit for the school. No matter how strong your grades or test scores are, weak responses to essays can definitely prevent you from making it to the acceptance pile. Remember, your business school essay is not the place for you to explain why you have shortcomings in your application—schools typically have a separate addendum section for that. If your topic and writing are stellar enough, admissions committees might overlook slightly lower numbers. Of course, you need to work on your other elements as well, but the essay acts as a highly valuable opportunity to differentiate yourself.

When reading your essays, admissions committee members look to get a greater sense of who you are and how you’ve taken steps to pursue your interests. While your resumé outlines what you’ve done so far, the business school essays tie the most important pieces of it together to portray why your experiences matter. It’s crucial that you expand on a story that is your own—not your parents’ or your friends’—and one which helps admissions committees understand you beyond your grades and consulting experience. 

Business schools have specific characteristics that they look for in students. For example, Harvard Business School wants leaders who can thrive in a fast-paced environment and actively collaborate with their community. So, an important part of school research is ensuring that you know what kind of characteristics the school wants you to bring, and letting those traits shine in the anecdotes and points you bring up in your essays.

Final Writing Tips 

• Authenticity and Uniqueness are Key - Trying to figure out what admissions officers want to hear, instead of actually reflecting on your career and goals, is the wrong way to approach MBA applications. Your business school essays should stand out as your chance to tell business schools your unique story. Think about whether or not your response will help you become a memorable candidate in admissions officers’ eyes. If you have a professional or personal experience that you know your peers won’t have, that’s what you should consider writing about in your essays.
• Be as Specific as Possible - Saying you want to work in consulting or in investment banking once you’ve received your MBA is far from enough. It tells nothing unique about you. Why do you want to work where you do? What kind of consulting firms are you looking for and why? How do you hope to leverage your experiences and education to create something bigger? The more specific you are to your own goals and story, the more you can stand out to the reader.
• Start Writing with Plenty of Time in Hand - If you’re applying to a handful of business schools, chances are you’ll have over 10 essays to write! In order to make sure all of your essays are as polished as possible; you need to give yourself plenty of time to work on each carefully. So, don’t wait until 3 weeks before the deadline to start. Plan ahead and put your best efforts into convincing admissions officers why you’re ideally suited for their MBA program.

Business school essays provide a great opportunity to emphasize your individuality and supply context on how your background, work experiences, and interests can contribute to the MBA program, as well as the world of business once you’ve graduated. Think carefully about topic choices, and let the admissions committee know that there’s more to you than just your grades and work experiences. Show that you will prove to be a wonderful asset to their institution.

Tags : applying to business school , MBA , business school essays , applying to mba programs , mba essays , b school

Schedule a free consultation

to find out how we can help you get accepted.

Business Essay Examples

13 Business Essay Examples for Students

14 min read

Published on: May 1, 2023

Last updated on: Jan 30, 2024

Share this article

Are you struggling to figure out the structure, research, or data required to make your essay stand out? Or frustrated by the lack of inspiration and ideas for your essay?

But don't give up yet! We have a powerful solution that will make your essay writing a breeze. Our list of business essay examples is here to help! 

We have compiled expertly written business essay examples that will illustrate how to write a striking business essay.

With our examples, you'll be able to see how to structure your essay and generate creative ideas for your topic. And our tips will help you make the most of these examples.

So, let's dive in and get ready to learn!

On This Page On This Page -->

What is a Business Essay?

A business essay is a type of academic writing that focuses on business-related topics and issues. These essays can cover a wide range of topics such as marketing, finance, management, entrepreneurship, and more.

The importance of business essay lies in presenting a well-researched and informed analysis. To do this effectively, writers need to conduct extensive research and analysis on the topic at hand.

Referring to examples of business essays can help you gain insight into the structure, tone, and content of a well-written essay.

Business Essay Examples For Students

Here is a list of business writing examples

Business Essay Examples Pdf

Business Essay Example Grade 10

Business Essay Example Grade 11

A Level Business Essay Examples

University Business Essay Examples

International Business Essay Examples

Short Essay About Business

College Essay About Starting A Business

Types of Business Essay with Examples

When it comes to business essay writing, there are several different types that you might encounter. 

Here's a brief overview of each type, including their characteristics and an example of each.

Paper Due? Why Suffer? That's our Job!

Case Studies

A case study is an in-depth analysis of a specific business situation or problem. It involves extensive research and data analysis to provide recommendations.

Case studies often showcase the application of theory to real-world business scenarios.

Research Papers

Research papers involve a more academic approach to business writing. They typically require an extensive literature review, data analysis, and original research. 

Business research papers aim to contribute new knowledge to the field of business. These often involve a hypothesis or research question.

Argumentative Essays

Argumentative business essays aim to persuade the reader to adopt a particular point of view or take a specific action. They present an argument and use evidence and logic to support their claims. 

Argumentative essays can address various business topics such as management practices, ethical issues, or market trends.

White Papers

A white paper is a document that provides a detailed explanation of a particular issue or problem, often with recommendations or solutions. 

White papers are typically used to educate stakeholders about a specific topic. These are often used in the business-to-business (B2B) context.

Comparative Essays 

Comparative business essays compare and contrast two or more topics or ideas. They typically analyze the similarities and differences between the topics to evaluate their pros and cons. 

Comparative essays can focus on various aspects such as products, companies, markets, or strategies.

How to Structure Your Business Essays

As you begin writing your business essay, it's important to structure it in a clear and organized way. 

Here's a step-by-step guide with business essay samples to help you do just that:

Executive Summary

The executive summary is a brief overview of your entire essay. It should summarize your main points and highlight your recommendations. 

This section should be written after completing the essay, as it gives a clear picture of what the essay covers. 

Here is how you start a business essay sample:

Introduction

The introduction sets the stage for the rest of the essay. It should introduce the topic, provide background information, and explain the purpose of the essay. 

Here is a business essay introduction example:

Industry Analysis

In this section, you'll conduct a thorough analysis of the industry in which the business operates. You should examine factors such as competition, market trends, and customer behavior. 

Here is a sample industry analysis

Key Issues or Problems

This section should identify the main issues or problems faced by the business. You should provide evidence to support your claims and analyze the impact of these issues. 

Here is an example paragraph:

Solutions or Recommendation

Here, you'll provide solutions or recommendations to address the issues identified in the previous section. Your solutions should be well-supported and feasible. 

For instance:

Implementation Plan

For this part, you'll outline a plan for implementing the solutions or recommendations you've proposed. This is sort of a description of the business model you suggest. 

This section should be detailed and include specific action steps. 

For example:

Finally, you'll wrap up your essay by summarizing your main points and reiterating your recommendations. 

This section should be clear, concise, and impactful. 

By following this structure, your business essay will be well-organized, coherent, and easy to follow for your readers.

Tips for Using Business Essay Examples Effectively

Now that you have quite a few business essay examples at hand, you should know how to use them effectively:

• Use them as a guide, not a template : While it's great to learn from examples, you should never copy them outright. Instead, use them as a starting point for your own research and writing.
• Analyze the strengths and weaknesses of the essay : Take note of what works well in the example essay, as well as any areas that could be improved. This will help you understand how to make your own essay even better.
• Use them to inform your own research and writing : Pay attention to the research methods, sources, and evidence used in the example essay. This can give you ideas for your own research and help you strengthen your arguments.
• Avoid plagiarism and ensure proper citation: Whenever you use ideas or information from an example, make sure to cite your sources. This will help you avoid plagiarism and maintain academic integrity.

You now have a plenty of business essay examples on different topics to help you get started!

By following our tips and studying the sample essays, you can confidently write your own essays that are clear, concise, and impactful. 

However, if you still find yourself struggling with your business essays, just reach out to our professional business essay writing service . 

We have the best online essay writing service and are ready to provide you a high-quality business. Our writing service has subject specialist writers who can tackle any business essay topic.  

So why wait? Contact us today and let our AI essay writer take your business essays to the next level!

Cathy A. (Literature)

For more than five years now, Cathy has been one of our most hardworking authors on the platform. With a Masters degree in mass communication, she knows the ins and outs of professional writing. Clients often leave her glowing reviews for being an amazing writer who takes her work very seriously.

Paper Due? Why Suffer? That’s our Job!

Legal & Policies

• Privacy Policy
• Cookies Policy
• Terms of Use
• Refunds & Cancellations
• Our Writers
• Success Stories
• Our Guarantees
• Affiliate Program
• Referral Program
• AI Essay Writer

Disclaimer: All client orders are completed by our team of highly qualified human writers. The essays and papers provided by us are not to be used for submission but rather as learning models only.

A Guide to the HBS Essay

Our guide to one of the most important parts of the MBA application for Harvard Business School: the essay, including our hand-picked HBS coach recommendations and other articles to get you started.

Posted January 10, 2024

Featuring Avi L.

MBA Personal Statement Workshop: Tips & Pitfalls

Wednesday, may 1.

6:00 PM UTC · 60 minutes

Table of Contents

Harvard Business School is one of the most renowned universities and business programs in the world. Established in 1908, it boasts impressive alumni like Michael Bloomberg, George W. Bush, and Abigail Johnson. With such a reputation, it is no surprise that the HBS application can be a grueling process. This is our guide to one of the most important parts of that application: the essay. Read on for tips to help you distinguish your candidacy and present the best essay possible.

HBS Essay Prompts (2024): Traditional & Deferred

Traditional application essay prompt.

The HBS essay asks a simple and open-ended question that gives applicants the ability to highlight whatever they believe is most important and relevant. The prompt is as follows:

As we review your application, what more would you like us to know as we consider your candidacy for the Harvard Business School MBA program? (900 words maximum)

On its website, Harvard advises applicants, “Don’t overthink, over craft, and overwrite. Just answer the question in clear language that those of us who don’t know your world can understand.” HBS has only recently instigated the limit of 900 words. With such an ambiguous question, it’s important to make every word count. It is easy to go on tangents, use the wrong example, or write simply to put words on the page. Students often don’t know where to start, and when to end.

HBS 2+2 Deferred MBA Essay Prompts

As of 2024, HBS has updated its deferred MBA essay prompts for the first time in many years. The new deferred essay requirements involve writing three short essays: two personal ones and one career one. Each essay has a limit of 300 words.

Personal Essays

The HBS classroom and community thrive when we bring together people who can share a variety of perspectives. To get to know you better and how you will engage at HBS, please choose two of the three prompts below to tell us more about yourself:

1. How have your experiences shaped who you are, how you lead, and how you will contribute at HBS? 2. What intellectual experiences have influenced your approach to learning and have led you to pursue an MBA? 3. What communities have you been engaged with that have defined how you invest in others?

Career Essay

How do the career plans you shared in the Career Plans section of the application fit into your current long-term career vision? What skills and/or professional experiences do you hope to obtain in the deferral period that will help build the foundation for your post-MBA career?

For more info on the HBS deferred MBA essays, read: HBS 2+2 Deferred MBA Essay Prompts & Tips (2024)

Here at Leland, we provide you with the expertise and opportunity you need to succeed as an MBA applicant, and beyond. Put in your email here to receive access to free coaching resources, community events, and exclusive updates.

Now, here are our five HBS essay tips, designed to help you stand out among the over 9,000 applicants that apply to Harvard Business School each year.

HBS Essay Tips for Success

1. tell a story.

There is no set formula or “right” way to write your HBS essay. Every MBA candidate comes from a different background and unique circumstances. Your job with this essay is to paint the most accurate picture you can of who you are and why you should be accepted into Harvard. They want you to stay true to yourself and let your personality shine. Your resume, test scores, and GPA are important, but they don’t show character; the essay is where you can really make a difference in your application.

With that being said, don’t write what you think the admissions committee wants to hear. They have read through thousands of essays, but they have never read an essay by you , so capitalize on your individuality. HBS wants to know where you have come from and what experiences have shaped who you are. This essay should absolutely not be a retelling of your resume and professional achievements.

Through this essay, HBS wants to see that you understand yourself. They also want to know whether you align with Harvard’s missions and values. They are looking for future leaders who want to make a difference in the world. The best way to prepare for this essay is to deeply reflect on yourself. Who are you? What matters to you? Why are you the way you are? At the end of the day, if you can answer this question, posed by an HBS alum , then you have got a good start: “Could this essay also describe someone else?” If so, then you probably need to do some more introspection.

2. Be Concise

When in doubt, ask yourself, “Does the admissions committee need to know this?” If not, it’s probably safe to take out. There is no “right” length to hit as every candidate will have a different story they’re trying to tell; however, there is a difference between telling a story and rambling. Include relevant information and paint an accurate picture, but do so in a clear and concise manner. Imagine that your essay is the hundredth that the adcom member is reading that day. How would you write to keep them engaged while also preserving the integrity of your story? That is the balance that you are looking for.

3. Don’t Just Answer “Why HBS?”

Unlike many other business schools, Harvard does not ask the stereotypical “Why HBS?” question. With that being said, applicants often feel like they need to use the essay to demonstrate their commitment to HBS. Most of the time, this is not the right approach. Your essay should be about you. Harvard is one of the most prestigious universities in the world and you don’t need to justify why you want to attend. Using the precious space you have to talk about HBS is a missed opportunity to shed light on your experiences.

The caveat to this is if providing your reason for attending Harvard makes your overall essay stronger. Some applicants may have a personal story tying them to HBS that they want to expound on. If that’s the case, then include it. The same adage from earlier applies here: If your “Why HBS?” answer could also explain someone else, then you probably don’t need it.

4. Build, Build, Build

Like any good story, your HBS essay should have a thread of continuity throughout. Introduce a theme or lesson, touch base on it every once in a while, and tie everything together in the conclusion. In addition to making your essay more interesting, this will prevent it from coming off as disjointed. Building up to the main point will also keep the reader in suspense and eager to read on. Because the prompt is so open-ended, it’s easy to have many different things you want to talk about. Sticking to a theme will help you ensure that everything you include is relevant.

5. Get Feedback

After spending lots of time writing something, it can be difficult to step back and view your work with a fresh, unbiased eye. Once you’ve written a rough draft, have a peer or mentor read through your essay and provide feedback. Ideally, the person reviewing your essay will be an alum of the school. But if that’s not an option, choose someone with business experience and writing skills that knows something about your background.

Don’t overedit your essay. Drafts, reviews, and edits are all part of the writing process but you don’t want to overpolish, especially to the point that you rub out your individuality. Instead, we recommend starting your essay early so that you have plenty of time to self-reflect, write, and step back for perspective. Once you’ve completed your first draft, ask for feedback and make some edits, but then put it away for a while. When you come back to it, you will have a fresher perspective and be less bogged down by the details.

At Leland, we have a broad network of world-class coaches who can help with any part of the MBA application. Many of them are experts in essay writing, browse them here. Want to work with an HBS alum who has first-hand experience of the Harvard application process? Here are some of our highest-rated MBA admissions coaches.

Free trial!

From 93 top coaches

Access a library of videos, templates, and examples curated by Leland's top coaches.

Example essays.

Example Resumes

Application Prep

Video Courses

Where Can I Start?

The application process can be daunting and difficult, especially without help. Read these articles to get started on your HBS journey.

• Harvard Business School: MBA Program & Application Overview
• How to Write a Powerful MBA Essay
• A Comprehensive MBA Timeline–With Chart
• How to Ace the HBS MBA Interview

The HBS Waitlist Strategy

• Harvard Business School MBA Application Deadlines (2023-2024)
• How I Got Into Harvard Business School With Low Test Scores

Browse hundreds of expert coaches

Leland coaches have helped thousands of people achieve their goals. A dedicated mentor can make all the difference.

Browse Related Articles

January 4, 2024

HBS 2+2 Deferred MBA Essay Prompts & Tips (2024)

As of 2024, HBS has changed its deferred MBA essay prompts away from the traditional, "What else should we know about you?" to three smaller essays. Read more and nail your HBS 2+2 application here.

April 4, 2024

How to Write a Powerful MBA Essay—With Examples

The MBA essay is critical to your business school application. Read our guide to writing the perfect MBA essay, with successful admit examples.

May 4, 2023

Why ChatGPT Can’t Write Your Personal Statement

While ChatGPT is multifaceted, there is a compelling argument against using AI for your personal statements. Here is one expert's take on the revolutionary technology and application essays.

February 27, 2023

Craft a Powerful Essay for Stanford GSB: What Matters Most & Why?

Ben L., a GSB MBA, expert coach, and pro writer, outlines his top advice for nailing the challenging and broad Stanford essay prompt, to help you get into one of the most prestigious MBA programs in the world.

January 9, 2024

On the waitlist for HBS? Read this article for information on your chances, how to get off, and what to do in the meantime.

A Guide to the Columbia Business School Essays (2023-2024)

Coach Melanie E. walks you through each Columbia Business School essay prompt for the 2023-2024 cycle, breaking down what adcoms are looking for and offering expert advice on how to nail your responses.

March 1, 2024

UNC Kenan-Flagler MBA Essays Guide: Overview, Tips & Examples

Get ready to ace your UNC Kenan-Flagler MBA application with this comprehensive essay guide.

March 2, 2024

Georgetown McDonough MBA Essays Guide: Overview, Tips & Examples

Looking to ace your Georgetown McDonough MBA essays? Our comprehensive guide provides an overview, valuable tips, and real examples to help you craft compelling and impactful essays that will set you apart from the competition.

UW Foster MBA Essays Guide: Overview, Tips & Examples

Learn everything you need to know about writing impactful UW Foster MBA essays with our comprehensive guide.

March 12, 2024

The Ultimate M7 MBA Essay Guide

Everything you need to know to write a killer essay for your M7 MBA application, including prompts, deadlines, expert advice, coach recommendations, additional free resources, and more.

How to Nail Your Kellogg MBA Application Essays

Tips and tricks that will help you craft the best application essays possible and get admitted into Kellogg.

A Guide to the Wharton MBA Essays

Tips and tricks to writing a stand-out essay for your Wharton MBA application, including an overview of the questions, expert advice, and how to get started.

We use cookies to enhance our website for you. Proceed if you agree to this policy or learn more about it.

• Essay Database >
• Essay Examples >
• Essays Topics >
• Essay on Workplace

Example Of Essay On Foundation Of Business Management

Type of paper: Essay

Topic: Workplace , Leadership , Company , Employee , Human Resource Management , System , Windows , Recession

Published: 12/03/2020

ORDER PAPER LIKE THIS

The job-centered leadership behavior of the leaders is as follows. Leaders are the one that believe in communication and performance. For example, CEO Jim McNerney of Boeing has a target to achieve from his workers that are to make them fifteen percent more effective than they are now. Moreover, in the time of crisis leaders have to look ahead. Where the company is ready to rethink over implementing a reward system. Opus Training founder Jack Hayhow trust in letting the employees know about the change taking place in the company. Where motivation becomes least important as recession period is faced by the company. However, employee-centered leadership behavior is based on transformational style. That is to appreciate employees on bringing innovative ideas and performing their best. Bill Gates is one leader who knows how to motivate the workers. He encourages new ideas and innovation. Accept the importance of workers that are creative and are able to take challenges to compete with the market leaders. I found Bill Gates as the Charismatic leader. Why? Because he provides room for his workers. He integrates his assistant in the hi-tech information system. Moreover, he knows the importance of motivation among the employees. He is a leader who knows how to tackle with the talented employees in his company. I would prefer working with McNerney. Why? Because he gives initiative to his employees at the time when the company is facing a crisis. He discard the old system of bonus and introduce performance-based system. Jim Donald Ex-CEO of Starbucks will not a preferred choice. Bill Gates is the one whom I would like to invest as he believes in bringing new innovation. Also, he introduces profitable hi-tech technology to the world. Jack Hayhow of Opus training will not a preferred choice as his company is unable to tackle recession and provide less motivation for his company employees. The prefer choice is McNerney of Boeing during a period of recession. He knows how to face a crisis. He introduces motivational and profitable programs. Treating employees as an important asset for the company. Ways of managing and organizing capital.

Cite this page

Share with friends using:

Removal Request

Finished papers: 1411

This paper is created by writer with

ID 277212093

If you want your paper to be:

Well-researched, fact-checked, and accurate

Original, fresh, based on current data

Eloquently written and immaculately formatted

275 words = 1 page double-spaced

Get your papers done by pros!

Other Pages

Science case studies, loop case studies, scientist literature reviews, card literature reviews, stream literature reviews, therapist literature reviews, screen literature reviews, morning literature reviews, cousin literature reviews, tendency literature reviews, example of essay on rheology, bussiness organization law case study examples, peptide hormones report examples, thomas jefferson and the declaration of independence essay examples, essay on stateless nations and their geographical disciplines, example of report on a policy report on obesity in australia, adam smith argues that the good society emerges from the actions of individuals essay example, example of essay on europe transformed reform and state building, free essay on power dependency relationship and bases of power, remarks total points 40 article review example, beowulf thesis, example of course work on project management negotiation, sec 305 week 2 assignment 2 term paper examples, day for night film review essay sample, management actions prior to cyber attack and business continuity plans research paper, example of case study on quality process, essay on organizational impact, spouse essays, glue essays, recreation essays, fatness essays, bracket essays, churn essays, neck essays, waist essays, lipid essays, papaya essays, grandson essays, paranoia essays, disdain essays, fraction essays, registration essays.

Password recovery email has been sent to [email protected]

Use your new password to log in

You are not register!

By clicking Register, you agree to our Terms of Service and that you have read our Privacy Policy .

Now you can download documents directly to your device!

Check your email! An email with your password has already been sent to you! Now you can download documents directly to your device.

or Use the QR code to Save this Paper to Your Phone

The sample is NOT original!

Short on a deadline?

Don't waste time. Get help with 11% off using code - GETWOWED

No, thanks! I'm fine with missing my deadline

• Undergraduate
• High School
• Architecture
• American History
• Asian History
• Antique Literature
• American Literature
• Asian Literature
• Classic English Literature
• World Literature
• Creative Writing
• Linguistics
• Criminal Justice
• Legal Issues
• Anthropology
• Archaeology
• Political Science
• World Affairs
• African-American Studies
• East European Studies
• Latin-American Studies
• Native-American Studies
• West European Studies
• Family and Consumer Science
• Social Issues
• Women and Gender Studies
• Social Work
• Natural Sciences
• Pharmacology
• Earth science
• Agriculture
• Agricultural Studies
• Computer Science
• IT Management
• Mathematics
• Investments
• Engineering and Technology
• Engineering
• Aeronautics
• Medicine and Health
• Alternative Medicine
• Communications and Media
• Advertising
• Communication Strategies
• Public Relations
• Educational Theories
• Teacher's Career
• Chicago/Turabian
• Company Analysis
• Education Theories
• Shakespeare
• Canadian Studies
• Food Safety
• Relation of Global Warming and Extreme Weather Condition
• Movie Review
• Admission Essay
• Annotated Bibliography
• Application Essay
• Article Critique
• Article Review
• Article Writing
• Book Review
• Business Plan
• Business Proposal
• Capstone Project
• Cover Letter
• Creative Essay
• Dissertation
• Dissertation - Abstract
• Dissertation - Conclusion
• Dissertation - Discussion
• Dissertation - Hypothesis
• Dissertation - Introduction
• Dissertation - Literature
• Dissertation - Methodology
• Dissertation - Results
• GCSE Coursework
• Grant Proposal
• Marketing Plan
• Multiple Choice Quiz
• Personal Statement
• Power Point Presentation
• Power Point Presentation With Speaker Notes
• Questionnaire
• Reaction Paper

Research Paper

• Research Proposal
• SWOT analysis
• Thesis Paper
• Online Quiz
• Literature Review
• Movie Analysis
• Statistics problem
• Math Problem
• All papers examples
• How It Works
• Money Back Policy
• Terms of Use
• Privacy Policy
• We Are Hiring

Business Finance, Essay Example

Pages: 11

Words: 3054

Hire a Writer for Custom Essay

Use 10% Off Discount: "custom10" in 1 Click 👇

You are free to use it as an inspiration or a source for your own work.

In recent years, for many companies and organizations, using their customer relationship and supply chains has become an essential element of the strategic management process. In the course of time, customer relationship and supply chains, types of companies, purposes, functions and processes have broadened. Nowadays, companies have powerful technologies for comprehending and cooperating with customers. However, they must shift from pushing separate products to creating and developing long-term customer relationships. Such changes shift the company’s focus from profitability of the product, to customer profitability. This research paper examines the differences in approaches, achieving effectiveness, cost savings, and company profitability while using Supply Chain Management and Customer Relationship Management systems. The paper compares Supply Chain Management and Customer Relationship Management systems. It proposes the ways companies can gain profit by using these systems. This examination of Supply Chain Management and Customer Relationship Management systems points out ways of producing effective and successful business by using these traditional management systems.

Business Finance

A present-day period characterized by steadfast growth interest to traditional management systems, and especially to Supply Chain Management and Customer Relationship Management systems. Their purposes, functions, opportunities, the ways they affect the company’s performance and profitability, became the subject matter of research studies and intense debates in economic, finance, marketing and accounting spheres. I will be examining Supply Chain Management and Customer Relationship Management systems. My analyses will look at achieving efficiencies, cost savings and company profitability while using these two systems. This research paper responds to the following questions:

What is Supply Chain Management system?

How does Supply Chain Management system help companies achieve efficiencies, cost savings and profitability?

What is Customer Relationship Management system?

• How does Customer Relationship Management systemhelpcompanies achieve efficiencies, cost savings and profitability?

Answering these four main questions will help to investigate and examine Supply Chain Management and Customer Relationship Management systems in terms of differences in approaches, achieving efficiencies, cost savings, and company profitability

The introduction of Supply Chain Management concept was in 1980s (Stock, Boyer, & Harmon, 2009). Since that time, Supply Chain Management has undergone many considerable changes and modifications. Nowadays, the discipline of Supply Chain Management keeps on widening and developing. It helps to answer the questions significant to business companies, customers, suppliers and service providers.

The customer satisfaction is the basic focus of Supply Chain Management. Integrating a variety of processes and functions within the company and between the companies is a primary part of Supply Chain Management. Stock, Boyer, and Harmon (2009) pay attention that in many companies Supply Chain Management accepted to raise operating performance, supply with new sources of competitiveness, provide considerable value to consumers, and create better-managed companies and relationships between companies.

A great many of companies can be involved in one supply chain, and many processes and functions are engaged in Supply Chain Management, Stock, et al, (2009) discovered. Since supply chains involve various companies and private person in the process of decision-making, the use of two-element investigation are significant, especially studying different cooperation and partnership relationships (Stock, Boyer, & Harmon, 2009).

Banham (2009) underlines that one aspect of Supply Chain Management that is likely to become a “legacy of the recession is a much more careful assessment of the financial viability of suppliers and customers”. The author emphasizes that, with a poor purchase requirement, the entire supply demand balance is out of order. Many companies have trouble financing their operations because they are not able to access circulating capital or significant credit line. As a result, they are failing. This puts companies’ balance sheets in danger. The financial risk of the supply chain is one of the largest perils.

The analysis and research of more than 166 definitions, founded in the literature, identified “three main themes associated with the supply chain” and Supply Chain Management. They are activities, benefits and constituents or components of Supply Chain Management. The authors also identified some sub-themes within every theme (Stock, Boyer, & Harmon, 2009).

The first theme of Supply Chain Management definitions, described by Stock, et al, (2009), is activities. It includes both materials and information flows, as well as networks of external and internal relationships with companies, and processes. The authors emphasize that the effective management of information and product flows are basic aspects of Supply Chain Management, which is the process of planning and checking of information and materials from suppliers to clients. The information and material flow is a one-sided process. Creating networks of relationships “between interrelated and interdependent organizations, as well as across business units” (Stock, Boyer, & Harmon, 2009) is another constituent part of the activities theme determined in Supply Chain Management definitions. The network of relationships concerns the relationships within the company, outside the company, and members of the supply chains. Stock, Boyer, and Harmon (2009) emphasize that the examples of activities include “service versus physical goods supply chains”, strategic cooperation, information and material flow and cooperation between supply chain participants, product return, management of the world’s supply chain network, and metric and measure of supply chain fulfillment.

According to Stock, Boyer, and Harmon (2009) research, benefits resulting from implementation of Supply Chain Management strategies include creating efficiencies, customer satisfaction and adding value. Ultimately, the purpose of Supply Chain Management is to attain larger profitability by creating efficiencies and adding value, thereby higher customer satisfaction. The first sub-theme of benefits is adding value. In Supply Chain Management, every supply chain participant performs a particular added value role in relation to the service and product as it progresses towards the end customer. A primary premise of Supply Chain Management is that value must growth quicker than the costs connected with creating the value. Create efficiencies, is the next sub-theme of benefits, Stock, Boyer, and Harmon (2009) found. Linking the producer, clients and suppliers, Supply Chain Management makes most favorable conditions to use shared resources both external and internal to the company, to obtain operating activity through greater effectiveness. The last sub-theme of benefits is increasing customer satisfaction. The fundamental importance of Supply Chain Management is comprehending customer needs. Stock, Boyer, and Harmon (2009) pay considerable attention to the examples of benefits. They include “outputs of integrated supply chains, doing more with less (e.g., six sigma, lean management)”, reaching customer satisfaction, cost optimization and minimization, valuation of risk, growth of profit of the company.

Constituents or components of Supply Chain Management are the last described by Stock, Boyer, and Harmon (2009) theme associated with Supply Chain Management. It is “what organizations, functions and processes comprise the supply chain”. They are made of a great many of systems, constituencies and functions grading from production equipment, material suppliers and customers to transportation, stock control, distribution, manufacturing and connected systems. Supply Chain Management contains all systems, operations, companies and business functions “involved in the management of a particular supply chain”. The examples of constituents or components include structure and module of Supply Chain Management, supply chain participants, processes and functions.

The supply chain consists of several independent and different participants. Each of them is with various purposes, desires and needs. A comprehending of relationships within the company or outside the company, how they are developed and realized are essential for understanding Supply Chain Management. “As the duration of the exchange relationship increases, so does the quality of the relationship,” Stock, Boyer, and Harmon (2009) emphasizes. Such a concept has been a basic principle behind the development of enduring cooperation and partnership in supply chain. Since there are various companies involved in supply chain, separate companies must act hand in hand to supply customers with products and services they desire. Complex supply chains should “reduce overall distribution costs and optimize customer service and satisfaction” (Stock, Boyer, & Harmon, 2009).

Banham (2009) pays serious attention, that financial strength, stability and credit of any company elevates it in the Supply Chain Risk Management sphere. The author found that many companies increase their profit due diligence to make sure that their suppliers have the financial stability. While analyzing the financial stability of the company, it is extremely vital to examine basic financial metrics. They are the proportion for circulating capital, return on invested capital, investment performance, return on stockholders’ equity, information on company’s credits, debts, and other key financial metrics.

In recent years, the financial condition of the companies has become strategic, Banham (2009) underlines. The author emphasizes that each company must make forecasts and market researches of their activity and the whole market.

Effective and efficient management of supply chain networks is significant. The purchase of materials from South America, Africa, and Asia, the “outsourcing of labor to underdeveloped nations”, and the procurement of technologies and approach management by European and United States companies from industrialized Asian nations, are vital aspects of Supply Chain Management. Banham (2009) believes, that it is necessary to avoid “high costs of carrying too much inventory”, which leads to business loss because the company can move the product at a lower cost or write it off. It helps to analyze the changes in consumer tastes and regulate precisely what to produce.

Companies must “shift their focus from driving transactions to maximizing customer lifetime value” (Rust, Moorman, & Bhalla, 2010) to survive in these aggressive surroundings. That implies creating brands and products subordinate to permanent customer relationships. That means modification of structure and strategy across the company.

With growing competition, survival is becoming complicated every day. The companies are searching for the solutions, which can help them support and growth the effectiveness and efficiency of their companies. Soch and Sandhu (2008) emphasize that as a “customer’s relationship with the company lengthens, profits rise”. Companies can increase profits by almost one hundred per cent by holding just five per cent more of their customers. On average, companies spend six times more to get clients than they make to retain them.

Customer Relationship Management has been taken on by companies’ Information Technology groups because of the performance attributes Customer Relationship Management system need. Yet, Customer Relationship Management is an instrument for measuring customer behaviors and requests. Rust, Moorman and Bhalla (2010) believe, that bringing Customer Relationship Management into customer department “means bringing IT and analytic skills in as well”.

The final goal of any measurement process is to grown the company’s owner wealth. One of the veritable preference of a Customer Relationship Management measurement process is that the company normally also get measures such as retention and acquisition costs, customer lifetime value. “The customer market is often the key market” (Soch, & Sandhu, 2008). Marketing tools that companies use for holding their clients is, therefore, likely to support for a competitive preference by contributing to service and product distinction, as well as developing obstacles for switching for other services and products. Because of that, the idea of Customer Relationship Management has obtained much significance in recent years. Earlier it has been determined as a technology and process which support fulfillment, planning and checking-up of customers and distributors. Customer Relationship Management is all about creation, development and support of long duration, mutually beneficial and advantageous relationships, with strategically significant customers (Soch, & Sandhu, 2008).

How does Customer Relationship Management system help companies achieve efficiencies, cost savings and profitability?

A good customer management is significant and can bring to the company’s owner profit, as there is a strong correlation between business performance and customer management performance. That means that customers consider assets to the company that drives to growth of company’s owner wealth (Soch, & Sandhu, 2008).

Rust, Moorman and Bhalla (2010), believe that customer managers play a significant role in Customer Relationship Management. They “engage individual customers or narrow segments in two-way communications, building long-term relationships” by advertising any of the company’s products, the client would appreciate at any given time. Customer managers must combine the knowledge of individual segments or customer with deep knowledge of the company and its products. Customer managers must also be “sophisticated data interpreters, able to extract insights from the increasing amount of information about customers’ attitudes and activities acquired by mining blogs and other customer forums” (Rust, Moorman, & Bhalla, 2010). They must control online customer behavior, monitor retail sales, and using various kinds of analytic.

Rust, et al, (2010) pay attention, that customer relation managers take more deeper, combined and broader opinion of the customer. The most efficient customer managers have deep training in marketing, sociology, psychology and economics. They gather information about customers, cooperate with and learning from them, and spread what they studied.

While investigating Customer Relationship Management, Soch, and Sandhu (2008) analyzed 171 companies from eight various industries. Financial performance of the selected companies was “measured in terms of growth and profitability by generating a composite index using factor analysis”. For researching the impact of Customer Relationship Management on financial performance of the companies, Soch, and Sandhu (2008) used regression analyses. The authors used factor analyses for generating a composite index of performance. The performance constructs included market or financial-grounded constructs such as profitability, fundamental analysis and market ratio. For analyzing the financial performance of a company, the authors chosen four main indicators, namely net profit, return on assets, growth in assets and growth in sales. The higher net profit, the better it is for company’s profit. Return on assets used as the measure of management effectiveness and production in using all the assets under company’s control. Growth in assets is an ordinary growth indicator. Growth in sale shows the company’s success in its market.

The analyses and research of 171 companies from eight various industries shown that there is a positive influence of Customer Relationship Management at companies activity and performance. Unfortunately, the results indicated that this influence is inessential. The needless development of human and financial resources in Customer Relationship Management process is not defensible. The reason of such analyses is that Customer Relationship Management looks to have no meaningful influence on the financial performance of the companies.

According to the research of Soch, and Sandhu (2008), there are many factors, which may be liable for distinction in performance of companies. They are sector or industry, age of business, leverage, capital intensity, skill, size and risk. It is, therefore, necessary to check up and monitor for the influence of such factors on performance. For example, an older company may grow quicker and get higher profitability because it has fixed itself in “market and has certain core skills, experiences and economies of scale which its younger counterparts may not have” (Soch, & Sandhu, 2008). The authors underline that large companies possess more resources. They endow with definite advantages, such as higher returns and lower costs “on account of economies of scale”.

Rust, Moorman, and Bhalla (2010) believe that, for effective and efficient use of Customer Relationship Management, companies need to make some steps. First, they must concentrate less on product profitability and more on customers and their profitability. This step helps to strengthen and intensify customer relationships. Also, companies must pay less attention to present-day sales. A company in the decadence state may have considerable present-day sales, bur miserable perspectives. The customer lifetime proceeds metric estimate the future profits obtained from a customer, correctly discounted to show present cost of money. Than, companies require to shift their focal point from the value of brand to the “sum of the lifetime values of their customers” (Rust, et al, 2010). The authors underline that increasing the value of brand is better seen as a mean to an end, one method to create customer equity, which is a good proxy for the worth of the company. The last proposed step is to pay less attention to present market ratio and more attention to the value of a company’s client base in the market.

Soch and Sandhu (2008) found that using Customer Relationship Management in some companies is not successful. The authors underline that there are several reasons for this. The first is that some companies see Customer Relationship Management primary as placement of funds in software and technology, whereas other companies treat Customer Relationship Management more widely and persistent in developing fruitful relationships and cooperation with customers. It is also probable that companies “are reluctant to terminate relationships with customers who are not profitable” (Soch, & Sandhu, 2008). The authors emphasize that it is also probable that companies are not as resulting in realizing Customer Relationship Management processes at this phase because of an absence of comprehension of the probable advantages of supporting, practicing and improving customer relationships. Finally, fruitful Customer Relationship Management needs a “strong people-related component” (Soch, & Sandhu, 2008). Customers prefer to cooperate with the employees of the company, and not just with services and products.

Making company wholly customer-centred orientation, will be complicated, Rust, Moorman and Bhalla (2010) pay attention. It can be the reason of some difficulties of Customer Relationship Management. The authors believe that because the change needs overcoming entrenched benefits, it will not come about structurally and organically. However, “daunting, the shift is inevitable.

Customer Relationship Management processes do not certainly “lead to profit generation” (Soch, & Sandhu, 2008). The authors suggest that Customer Relationship Management activities and other instruments may not “lead to the required dividends unless special efforts are made to develop long-term relationships” (Soch, & Sandhu, 2008). In addition, the influence of investments made in Customer Relationship Management activities for developing short-term and long-term financial performance of the companies, must be explored. Soch and Sandhu (2008) believe that, in recent years, companies have undergone considerable changes.

Nowadays, companies must create and carry out their own Supply Chain Management and Customer Relationship Management programs to perfect the quality and dimensions of their business. Therefore, it is significant to determine the types of Supply Chain Management and Customer Relationship Management activities that companies can use and investigate how these relate to company fulfillment and return on sales. Since the companies can now cooperate directly with customers, they must fully reorganize to put relationships ahead of creation and development of brands.

Banham, R. (2009, September 1). Supply Chains and Demand. CFO Magazine . Retrieved July 5, 2010, from http://www.cfo.com/article.cfm/14290335/1/c_14292723?f=search

Rust, R.T., Moorman, C., & Bhalla, G. (2010, January 01). Rethinking Marketing. Harvard Business Review , 1-9.

Soch, H., & Sandhu, H.S. (2008). Does Customer Relationship Management Activity Affect Firm Performance? Global Business Review , 9 (2), 189-206.

Stock, J.R., Boyer, S.L., & Harmon, T. (2009, March 6). Research opportunities in supply chain management. Journal of the Academy of Marketing Science . Retrieved July 4, 2010, from http://www.springerlink.com/content/36m16635gn25140w/fulltext.html.

Stuck with your Essay?

Get in touch with one of our experts for instant help!

Women's Health in Afghanistan, Research Paper Example

Corporate Culture Through Emotional Intelligence, Term Paper Example

Time is precious

don’t waste it!

Plagiarism-free guarantee

Privacy guarantee

Secure checkout

Money back guarantee

Related Essay Samples & Examples

Voting as a civic responsibility, essay example.

Pages: 1

Words: 287

Utilitarianism and Its Applications, Essay Example

Words: 356

The Age-Related Changes of the Older Person, Essay Example

Pages: 2

Words: 448

The Problems ESOL Teachers Face, Essay Example

Pages: 8

Words: 2293

Should English Be the Primary Language? Essay Example

Pages: 4

Words: 999

The Term “Social Construction of Reality”, Essay Example

Words: 371

Home — Application Essay — Business School — Why I Choose a Business Major

Why I Choose a Business Major

• University: New York University

About this sample

Words: 666 |

Published: Feb 15, 2024

Words: 666 | Pages: 1 | 4 min read

Table of contents

A world of possibilities, passion for innovation, developing essential skills, embracing diversity, contributing to society.

Choosing a major is one of the most important decisions a college student has to make. It determines the path we will take in our academic and professional lives, shaping our future prospects and opportunities. After much deliberation, analysis, and introspection, I have decided to pursue a business major. In this essay, I will outline the reasons behind my choice and how it aligns with my passions, skills, and aspirations.

Say no to plagiarism.

Get a tailor-made essay on

'Why Violent Video Games Shouldn't Be Banned'?

One of the primary reasons why I have chosen a business major is the vast array of opportunities it offers. The business world is dynamic, ever-evolving, and interconnected. It permeates every industry and sector, providing a solid foundation for countless career paths. By studying business, I am equipping myself with essential skills and knowledge that can be applied across a wide range of fields.

Moreover, a business major provides a holistic view of organizations and their operations. It encompasses various disciplines such as finance, marketing, management, and entrepreneurship. This interdisciplinary approach resonates with my desire to gain a comprehensive understanding of how businesses operate, which is vital in today's complex and globalized marketplace.

Another driving force behind my choice of a business major is my innate passion for innovation. I firmly believe that businesses have the power to shape society and drive positive change. By studying business, I hope to learn how to create innovative solutions that address pressing social, environmental, and economic challenges.

The business world thrives on innovation and entrepreneurship. It encourages individuals to think critically, take risks, and challenge the status quo. I am excited to immerse myself in an environment that fosters creativity and encourages forward-thinking. By pursuing a business major, I am confident that I will have the opportunity to contribute to meaningful advancements in various industries.

Choosing a business major will also enable me to develop crucial skills that are highly valued in the professional world. Strong analytical and problem-solving abilities, effective communication and teamwork skills, and proficiency in financial management are just a few examples of the competencies I aim to acquire through my studies.

Moreover, a business major emphasizes critical thinking and strategic decision-making. These skills are essential not only in the corporate realm but also in everyday life. From managing personal finances to making informed choices, the skills I will cultivate through this major will have a lasting impact on my personal and professional endeavors.

The business field is renowned for its diversity, both in terms of people and ideas. It is a melting pot of cultures, backgrounds, and perspectives. By choosing a business major, I am embracing this diversity and recognizing the importance of collaborating with individuals from different walks of life.

In an ever-connected world, cross-cultural competence is invaluable. By studying business, I will have the opportunity to work alongside individuals with diverse backgrounds, enabling me to enhance my global mindset and broaden my horizons. This exposure will not only enrich my educational experience but will also better prepare me to thrive in an increasingly multicultural society.

Lastly, but certainly not least, my decision to pursue a business major stems from my desire to make a positive impact on society. Businesses have immense potential to contribute to the well-being of communities, whether through job creation, sustainable practices, or corporate social responsibility initiatives.

With a business major, I aspire to combine profit-driven goals with a strong sense of social responsibility. I want to be part of a generation of business leaders who prioritize ethical decision-making, environmental sustainability, and social justice. By incorporating these values into my professional endeavors, I hope to contribute to a more equitable and sustainable future for all.

Keep in mind: This is only a sample.

Get a custom paper now from our expert writers.

In conclusion, choosing a business major aligns perfectly with my passions, skills, and aspirations. It offers a wide range of opportunities, fuels my passion for innovation, develops essential skills, embraces diversity, and allows me to contribute positively to society. By pursuing a business major, I am confident that I will acquire the knowledge and skills necessary to excel in the ever-changing and challenging world of business.

Cite this Essay

Let us write you an essay from scratch

• 450+ experts on 30 subjects ready to help
• Custom essay delivered in as few as 3 hours

Get high-quality help

Prof. Kifaru

Verified writer

• Expert in: Business School

+ 130 experts online

By clicking “Check Writers’ Offers”, you agree to our terms of service and privacy policy . We’ll occasionally send you promo and account related email

No need to pay just yet!

Related Essays

1 pages / 618 words

Remember! This is just a sample.

You can get your custom paper by one of our expert writers.

121 writers online

Are you interested in getting a customized paper?

Still can’t find what you need?

Browse our vast selection of original essay samples, each expertly formatted and styled

Related Essays on Business School

Pose an original question and answer it. The traditional greetings of the hipsters in my area never really caught on with me. A “What’s popping?” or “Holla at yo’ boy?” coming out of my mouth would’ve screamed “trying too [...]

Standing alone in the empty cemetery, I hear my distraught voice bounce off the headstones. “Why did you leave? I will almost never forgive you.” The cold air settles around me. The tears stain my cheeks, but I don’t stop. I [...]

The van was parked on the third floor of the parking garage, meaning the team had to walk almost 15 minutes together in near silence. Mark was raving, twirling his fingers and vitriolically murmuring something to himself. Devon [...]

Do you know what your hair type is? Probably not. I have natural 3c-4a hair. Beyond interesting trivial, I honestly don't think much about natural hair and care less as to what my hair texture is, but at one point in my life I [...]

Anne Frank once said, “How wonderful is it that nobody need wait a single moment before starting to improve the world.” Many people do not realize the impact the smallest good deeds can have on the human race. Some may even give [...]

Who Are You? Simple, yet complex, just like everything else – but unlike everything else, I am me as no one else could be. I am Ariel, and I want to speak. Ariel- This is a snapshot of my mind: the black and white images [...]

Related Topics

By clicking “Send”, you agree to our Terms of service and Privacy statement . We will occasionally send you account related emails.

Where do you want us to send this sample?

By clicking “Continue”, you agree to our terms of service and privacy policy.

Be careful. This essay is not unique

This essay was donated by a student and is likely to have been used and submitted before

Download this Sample

Free samples may contain mistakes and not unique parts

Sorry, we could not paraphrase this essay. Our professional writers can rewrite it and get you a unique paper.

Please check your inbox.

We can write you a custom essay that will follow your exact instructions and meet the deadlines. Let's fix your grades together!

We use cookies to personalyze your web-site experience. By continuing we’ll assume you board with our cookie policy .

• Instructions Followed To The Letter
• Deadlines Met At Every Stage
• Unique And Plagiarism Free

You are using an outdated browser. Upgrade your browser today or install Google Chrome Frame to better experience this site.

• IMF at a Glance
• Surveillance
• Capacity Development
• IMF Factsheets List
• IMF Members
• IMF Timeline
• Senior Officials
• Job Opportunities
• Archives of the IMF
• Climate Change
• Fiscal Policies
• Income Inequality

Flagship Publications

Other publications.

• World Economic Outlook
• Global Financial Stability Report
• Fiscal Monitor
• External Sector Report
• Staff Discussion Notes
• Working Papers
• IMF Research Perspectives
• Economic Review
• Global Housing Watch
• Commodity Prices
• Commodities Data Portal
• IMF Researchers
• Annual Research Conference
• Other IMF Events

IMF reports and publications by country

Regional offices.

• IMF Resident Representative Offices
• IMF Regional Reports
• IMF and Europe
• IMF Members' Quotas and Voting Power, and Board of Governors
• IMF Regional Office for Asia and the Pacific
• IMF Capacity Development Office in Thailand (CDOT)
• IMF Regional Office in Central America, Panama, and the Dominican Republic
• Eastern Caribbean Currency Union (ECCU)
• IMF Europe Office in Paris and Brussels
• IMF Office in the Pacific Islands
• How We Work
• IMF Training
• Digital Training Catalog
• Online Learning
• Our Partners
• Country Stories
• Technical Assistance Reports
• High-Level Summary Technical Assistance Reports
• Strategy and Policies

For Journalists

• Country Focus
• Chart of the Week
• Communiqués
• Mission Concluding Statements
• Press Releases
• Statements at Donor Meetings
• Transcripts
• Views & Commentaries
• Article IV Consultations
• Financial Sector Assessment Program (FSAP)
• Seminars, Conferences, & Other Events
• E-mail Notification

Press Center

The IMF Press Center is a password-protected site for working journalists.

• Login or Register
• Information of interest
• About the IMF
• Conferences
• Press briefings
• Special Features
• Middle East and Central Asia
• Economic Outlook
• Annual and spring meetings
• Most Recent
• Most Popular
• IMF Finances
• Additional Data Sources
• World Economic Outlook Databases
• Climate Change Indicators Dashboard
• IMF eLibrary-Data
• International Financial Statistics
• G20 Data Gaps Initiative
• Public Sector Debt Statistics Online Centralized Database
• Currency Composition of Official Foreign Exchange Reserves
• Financial Access Survey
• Government Finance Statistics
• Publications Advanced Search
• IMF eLibrary
• IMF Bookstore
• Publications Newsletter
• Essential Reading Guides
• Regional Economic Reports
• Country Reports
• Departmental Papers
• Policy Papers
• Selected Issues Papers
• All Staff Notes Series
• Analytical Notes
• Fintech Notes
• How-To Notes
• Staff Climate Notes

IMF Working Papers

Dominant drivers of current account dynamics.

Author/Editor:

Lukas Boer ; Jaewoo Lee

Publication Date:

April 26, 2024

Electronic Access:

Free Download . Use the free Adobe Acrobat Reader to view this PDF file

Disclaimer: IMF Working Papers describe research in progress by the author(s) and are published to elicit comments and to encourage debate. The views expressed in IMF Working Papers are those of the author(s) and do not necessarily represent the views of the IMF, its Executive Board, or IMF management.

We estimate shocks that explain most of the variation in the current account at business cycle frequencies and over the long run. We then explore, using a standard open-economy macro model, which macroeconomic shocks are behind the empirical dominant drivers of the current account at business-cycle frequency. Rather than financial shocks or aggregate shocks to supply or demand, shocks to the relative demand between home and foreign goods are found to play a pivotal role in current account dynamics.

Working Paper No. 2024/092

9798400274961/1018-5941

WPIEA2024092

Please address any questions about this title to [email protected]

First Foundation: Q1 Earnings Snapshot

DALLAS — DALLAS — First Foundation Inc. (FFWM) on Thursday reported first-quarter profit of $793,000.

The Dallas-based bank said it had earnings of 1 cent per share. Earnings, adjusted for one-time gains and costs, came to 2 cents per share.

The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 1 cent per share.

The wealth manager and commercial bank posted revenue of $163.1 million in the period. Its revenue net of interest expense was $51.1 million, which did not meet Street forecasts. Three analysts surveyed by Zacks expected $58.9 million.

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on FFWM at https://www.zacks.com/ap/FFWM

We've detected unusual activity from your computer network

To continue, please click the box below to let us know you're not a robot.

Why did this happen?

Please make sure your browser supports JavaScript and cookies and that you are not blocking them from loading. For more information you can review our Terms of Service and Cookie Policy .

For inquiries related to this message please contact our support team and provide the reference ID below.

• Election 2024
• Entertainment
• Newsletters
• Photography
• Personal Finance
• AP Investigations
• AP Buyline Personal Finance
• AP Buyline Shopping
• Press Releases
• Israel-Hamas War
• Russia-Ukraine War
• Global elections
• Asia Pacific
• Latin America
• Middle East
• Election Results
• Delegate Tracker
• AP & Elections
• Auto Racing
• 2024 Paris Olympic Games
• Movie reviews
• Book reviews
• Personal finance
• Financial Markets
• Business Highlights
• Financial wellness
• Artificial Intelligence
• Social Media

Panama Papers trial’s public portion comes to an unexpectedly speedy end

The Supreme Court stands in Panama City, Monday, April 8, 2024 as the trial starts for those charged in connection with the worldwide “Panama Papers” money laundering case. (AP Photo/Agustin Herrera)

Juergen Mossack, partner of the law firm Mossack-Fonseca, leaves the Supreme Court during the trial of the “Panama Papers” money laundering case in Panama City, Monday, April 8, 2024. (AP Photo/Agustin Herrera)

Lawyers and court workers leave the Supreme Court during a recess for the trial of the “Panama Papers” money laundering case in Panama City, Monday, April 8, 2024. (AP Photo/Agustin Herrera)

• Copy Link copied

PANAMA CITY (AP) — The public portion of a trial of more than two-dozen associates accused of helping some of the world’s richest people hide their wealth came to an unexpectedly speedy conclusion Friday when a Panamanian judge said she would take the two weeks of trial arguments and testimony under advisement.

The trial came eight years after 11 million leaked secret financial documents that became known as the “Panama Papers” prompted the resignation of the prime minister of Iceland and brought scrutiny to the then-leaders of Argentina and Ukraine, Chinese politicians, and Russian President Vladimir Putin, among others.

Judge Baloisa Marquínez noted Friday that the case included more than 530 volumes of information. The public trial had been expected to run to the end of the month. The judge has 30 working days to issue a verdict.

Those on trial include the owners of the Mossack Fonseca law firm that was at the heart of the 2016 massive document leak. Jürgen Mossack attended the trial, while his partner Ramón Fonseca did not for health reasons, according to his counsel.

Panamanian prosecutors allege that Mossack, Fonseca and their associates created a web of shell companies that used complex transactions to hide money linked to illicit activities in the “car wash” corruption scandal of Brazilian construction giant Odebrecht .

“This whole process from eight years ago until now … has had a lot of consequences for my family, on my personal situation and truly has been a great injustice not just for me but for all of the people who have worked with me,” Mossack testified Friday. “I trust your honor will know how to evaluate all that has been said here.”

Mossack had said at the start of the trial, as he has for years, that he was not guilty of the money laundering charges.

According to Panamanian prosecutors, the Mossack Fonseca firm created 44 shell companies, 31 of which opened accounts in Panama to hide money linked to the Brazilian scandal.

Fonseca has said the firm, which closed in 2018, had no control over how its clients might use offshore vehicles created for them.

Mossack Fonseca helped create and sell around 240,000 shell companies across four decades in business. It announced its closure in March 2018, two years after the scandal erupted.

The firm’s documents were first leaked to the German daily Suddeutsche Zeitung, and were shared with the International Consortium of Investigative Journalists, which began publishing collaborative reports with news organizations in 2016.

“The reputational deterioration, the media campaign, the financial siege and the irregular actions of some Panamanian authorities have caused irreparable damage, whose consequence is the complete cease of operations to the public,” the firm said in a statement at the time.

The Mossack and Fonseca were acquitted on other charges in 2022.

• Share full article

Advertisement

Supported by

Guest Essay

What Sentencing Could Look Like if Trump Is Found Guilty

By Norman L. Eisen

Mr. Eisen is the author of “Trying Trump: A Guide to His First Election Interference Criminal Trial.”

For all the attention to and debate over the unfolding trial of Donald Trump in Manhattan, there has been surprisingly little of it paid to a key element: its possible outcome and, specifically, the prospect that a former and potentially future president could be sentenced to prison time.

The case — brought by Alvin Bragg, the Manhattan district attorney, against Mr. Trump — represents the first time in our nation’s history that a former president is a defendant in a criminal trial. As such, it has generated lots of debate about the case’s legal strength and integrity, as well as its potential impact on Mr. Trump’s efforts to win back the White House.

A review of thousands of cases in New York that charged the same felony suggests something striking: If Mr. Trump is found guilty, incarceration is an actual possibility. It’s not certain, of course, but it is plausible.

Jury selection has begun, and it’s not too soon to talk about what the possibility of a sentence, including a prison sentence, would look like for Mr. Trump, for the election and for the country — including what would happen if he is re-elected.

The case focuses on alleged interference in the 2016 election, which consisted of a hush-money payment Michael Cohen, the former president’s fixer at the time, made in 2016 to a porn star, Stormy Daniels, who said she had an affair with Mr. Trump. Mr. Bragg is arguing that the cover-up cheated voters of the chance to fully assess Mr. Trump’s candidacy.

This may be the first criminal trial of a former president in American history, but if convicted, Mr. Trump’s fate is likely to be determined by the same core factors that guide the sentencing of every criminal defendant in New York State Court.

Comparable cases. The first factor is the base line against which judges measure all sentences: how other defendants have been treated for similar offenses. My research encompassed almost 10,000 cases of felony falsifying business records that have been prosecuted across the state of New York since 2015. Over a similar period, the Manhattan D.A. has charged over 400 of these cases . In roughly the first year of Mr. Bragg’s tenure, his team alone filed 166 felony counts for falsifying business records against 34 people or companies.

Contrary to claims that there will be no sentence of incarceration for falsifying business records, when a felony conviction involves serious misconduct, defendants can be sentenced to some prison time. My analysis of the most recent data indicates that approximately one in 10 cases in which the most serious charge at arraignment is falsifying business records in the first degree and in which the court ultimately imposes a sentence, results in a term of imprisonment.

To be clear, these cases generally differ from Mr. Trump’s case in one important respect: They typically involve additional charges besides just falsifying records. That clearly complicates what we might expect if Mr. Trump is convicted.

Nevertheless, there are many previous cases involving falsifying business records along with other charges where the conduct was less serious than is alleged against Mr. Trump and prison time was imposed. For instance, Richard Luthmann was accused of attempting to deceive voters — in his case, impersonating New York political figures on social media in an attempt to influence campaigns. He pleaded guilty to three counts of falsifying business records in the first degree (as well as to other charges). He received a sentence of incarceration on the felony falsification counts (although the sentence was not solely attributable to the plea).

A defendant in another case was accused of stealing in excess of $50,000 from her employer and, like in this case, falsifying one or more invoices as part of the scheme. She was indicted on a single grand larceny charge and ultimately pleaded guilty to one felony count of business record falsification for a false invoice of just under $10,000. She received 364 days in prison.

To be sure, for a typical first-time offender charged only with run-of-the-mill business record falsification, a prison sentence would be unlikely. On the other hand, Mr. Trump is being prosecuted for 34 counts of conduct that might have changed the course of American history.

Seriousness of the crime. Mr. Bragg alleges that Mr. Trump concealed critical information from voters (paying hush money to suppress an extramarital relationship) that could have harmed his campaign, particularly if it came to light after the revelation of another scandal — the “Access Hollywood” tape . If proved, that could be seen not just as unfortunate personal judgment but also, as Justice Juan Merchan has described it, an attempt “to unlawfully influence the 2016 presidential election.”

History and character. To date, Mr. Trump has been unrepentant about the events alleged in this case. There is every reason to believe that will not change even if he is convicted, and lack of remorse is a negative at sentencing. Justice Merchan’s evaluation of Mr. Trump’s history and character may also be informed by the other judgments against him, including Justice Arthur Engoron’s ruling that Mr. Trump engaged in repeated and persistent business fraud, a jury finding that he sexually abused and defamed E. Jean Carroll and a related defamation verdict by a second jury.

Justice Merchan may also weigh the fact that Mr. Trump has been repeatedly held in contempt , warned , fined and gagged by state and federal judges. That includes for statements he made that exposed witnesses, individuals in the judicial system and their families to danger. More recently, Mr. Trump made personal attacks on Justice Merchan’s daughter, resulting in an extension of the gag order in the case. He now stands accused of violating it again by commenting on witnesses.

What this all suggests is that a term of imprisonment for Mr. Trump, while far from certain for a former president, is not off the table. If he receives a sentence of incarceration, perhaps the likeliest term is six months, although he could face up to four years, particularly if Mr. Trump chooses to testify, as he said he intends to do , and the judge believes he lied on the stand . Probation is also available, as are more flexible approaches like a sentence of spending every weekend in jail for a year.

We will probably know what the judge will do within 30 to 60 days of the end of the trial, which could run into mid-June. If there is a conviction, that would mean a late summer or early fall sentencing.

Justice Merchan would have to wrestle in the middle of an election year with the potential impact of sentencing a former president and current candidate.

If Mr. Trump is sentenced to a period of incarceration, the reaction of the American public will probably be as polarized as our divided electorate itself. Yet as some polls suggest — with the caveat that we should always be cautious of polls early in the race posing hypothetical questions — many key swing state voters said they would not vote for a felon.

If Mr. Trump is convicted and then loses the presidential election, he will probably be granted bail, pending an appeal, which will take about a year. That means if any appeals are unsuccessful, he will most likely have to serve any sentence starting sometime next year. He will be sequestered with his Secret Service protection; if it is less than a year, probably in Rikers Island. His protective detail will probably be his main company, since Mr. Trump will surely be isolated from other inmates for his safety.

If Mr. Trump wins the presidential election, he can’t pardon himself because it is a state case. He will be likely to order the Justice Department to challenge his sentence, and department opinions have concluded that a sitting president could not be imprisoned, since that would prevent the president from fulfilling the constitutional duties of the office. The courts have never had to address the question, but they could well agree with the Justice Department.

So if Mr. Trump is convicted and sentenced to a period of incarceration, its ultimate significance is probably this: When the American people go to the polls in November, they will be voting on whether Mr. Trump should be held accountable for his original election interference.

What questions do you have about Trump’s Manhattan criminal trial so far?

Please submit them below. Our trial experts will respond to a selection of readers in a future piece.

Norman L. Eisen investigated the 2016 voter deception allegations as counsel for the first impeachment and trial of Donald Trump and is the author of “Trying Trump: A Guide to His First Election Interference Criminal Trial.”

The Times is committed to publishing a diversity of letters to the editor. We’d like to hear what you think about this or any of our articles. Here are some tips . And here’s our email: [email protected] .

Follow the New York Times Opinion section on Facebook , Instagram , TikTok , WhatsApp , X and Threads .