Business and Economics, Personal Statement Example

We are living in one of the most exciting times in human history. Our world is truly becoming a small village where distances and geographical boundaries are less and less relevant now, thanks to advancements in communication and information technologies. While businesses today compete in more competitive environments, they also have market reach they didn’t have before. Even small businesses with limited resources find it easier and affordable to reach international customers. Moreover, entrepreneurship is enjoying a renewed popularity because it is both easier and cheaper than ever to translate your ideas into a business and be the master of your own destiny. This is why I am, particularly, interested in studying business because I eventually hope to open my own business that will cater to both domestic and international customers.

One of the best decisions I made in high school was to study economics. I enjoyed studying economics not only because I did well in it but also because it was one of the most practical courses I had ever taken at high school level. One of the main things that attracted me to economics was the fact that lot of economic principles were basic common sense and many of us apply them almost daily in our lives, often without ever realizing it. Not only economics helps us better understand the behavior of individuals but also the governments. Studying economics is even more important now because global economies have become more closely integrated with each other. In addition, the intensifying competition only increases the importance of efficiently managing limited resources. Thus, I intend to major in both business and economics because one can never have too much education. Studying both business and economics will provide me with a strong foundation for future career as well as my entrepreneurial ambitions.

I am also fortunate to have gained practical work experience which helped me realize I really enjoy business and economics. My first job was as a marketing advisor for one month. In this job, I learnt about the importance of understanding customers’ needs and desires so that a business can offer them a better solution than the competition. I also learnt the importance of communication and teamwork. Thus, when I plan to start my own business, I will make sure I can offer something to my targeted customers that no one offers.

While it is important to get a formal college education in business and economics, it is also important to learn about other cultures because one cannot succeed in international markets without a good understanding of cross-cultural differences. Thus, I also plan to extensively interact with fellow students from diverse ethnic and cultural backgrounds to improve my cross-cultural knowledge. In addition, I will also learn more about their business practices because just like other nations can benefits from strong points of American way of doing business, we can also benefit from the strengths of international ways of doing business such as focus on long-term professional relationships.

I have also been doing electrical and electronic engineering foundation course at the university which shows my passion for continuously broadening my knowledge base. I also realize college will not be the end of education but instead learning will be a lifelong process for me. I have no doubt I will be a great addition to business and economics programs because not only I learn from others but also attempt to benefit others through insights from my own life experiences.