Importance Of Strategic Planning In Your MBA Application
When starting your business school application, you should remember that strategic planning is one of the most important skills you can learn. Strategists are most focused on the allocation of the resources available to a company to reach a certain destination. Consider for a minute that a single business school application may take 40 hours of your time. By planning your application and focusing from the beginning, you can not only save time but you will also create a stronger application. Unfortunately, many candidates don’t spend any time during this critical stage. These individuals begin without taking a look at each part of the application, assessing their strengths, or studying their competitor candidates.
The steps that you will go through to create your MBA application strategy are the same steps a marketing strategist would go through when creating a new initiative. The person would begin by assessing their product’s competitiveness at a very high level. Next, the person would find out how the market is segmented and make a decision about which part to focus on. After identifying their target segments she would study the buyers in each segment to understand what they are looking for and how they can stand out.
In regards to the business school application, the planning part is the time to take an overview at what you have to provide and how competitive you might be. Then, you should start building an Application Portfolio Strategy. This part is only a decision about the competitive dynamics of the portfolio of MBA programs you will apply to. Will you apply to only the most competitive business schools? Would a balanced portfolio of competitive and less competitive business schools make more sense? Answering these questions in the business school planning phase will allow you to focus your schools to possible programs that you are interested in applying to.
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Founded in 2001, Stacy Blackman Consulting has helped thousands of MBA applicants gain admission to the most selective business schools in the world. The Stacy Blackman team, comprised of MBA graduates, former admissions officers and expert writers, editors and marketers, helps clients develop and implement a winning marketing strategy. Stacy Blackman clients have a significantly increased probability of admission to top schools and are frequent recipients of merit scholarships. The company is regularly featured in publications such as BusinessWeek, the Wall Street Journal and the Economist. Visit the Stacy Blackman blog for daily news updates and admissions tips, and check out the company’s e-publications for more in depth school-by-school guidance.
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