Sample Essays ISB MFAB
ISB MFAB Essay review package
ABC Limited is a fictitious company name assumed for the purpose
of writing sample essays.
MFAB Essay 1 : Describe an important initiative that your
business has undertaken during the past five years. Explain
why you consider it that way.
Essay: ABC Ltd. is a 17 year old
company with loyal senior management personnel working for the
company since its inception and played a major role in the
growth of the company. All strategic and day to day operational
decisions were taken by them effectively leaving the
mid-level management and employees as mere executors without
involvement in the decision making process. Now the senior
management people are approaching their retirement age and
their retirement will create cavity of decision making in the
company. Members of the family have identified this issue and
took initiative towards professionalization of the organization.
business has crossed a threshold for centralized decisions.
Ongoing success of our business depends on introduction of value
added products that are new to the Indian market. Centralized
control resulted in slower response from management which in turn
resulted in a hefty product line without sufficient
infrastructure and manpower to sustain it. Management’s initiative
of professionalizing the organization by redefining roles
& responsibilities and decentralizing control by establishing
systems and process is helping the management in taming
the centralized decisions strategy will not only hamper the growth
of the company but the company itself, as some decisions
can only be taken effectively in conjunction with capable
middle management personnel who are well aware of all the
realistic parameters of the situation which might be
difficult for the senior management to understand. Thus the
company would like to give more opportunity to middle and
lower cadres who are well aware of intricacies and issues.
based recognition of employees rather than closeness of the
employee to the business owners is helping talent to come up
the ladder and hold key positions in the organization which
in turn is benefiting the business. Proper training of employees
and encouraging innovation across all departments is making
the organization competitive in cut throat markets.
systems & process is ensuring a smooth communication between
the departments as well as clarity of roles and
responsibilities. Result is an amicable work environment
leading to better performance of the existing employees, new
talent joining in, sense of ownership by the employees and
lesser attrition rates.
of the company and bringing its work culture to global standards
is the most important initiative taken by our management as
it sets the business ready for organic as well as inorganic
growth, foster tie up with multinational companies
for geographical expansion while sustaining itself in the
competitive home market.
MFAB Essay 2 : Why do you intend to pursue MFAB program?
Sample Essay : Joining family
business after working for a corporate was a paradigm shift for me
in terms of governance of the company as a whole, role played
by the family in the business and different kinds of corporate
cultures that exist in the same group. For me to get accustomed to
the shift and then perform took some time.
an organization having assorted teams with expertise in varied
skill set, requires knowledge of those skills in order to
understand the team’s requirements or concerns and guide them
to accomplish the organizational goal.
technical qualification and experience in professional firms, I
joined family business as General Manager, ABC Ltd.
My contribution to business started with assignments such as
project planning and execution, identification of new products
& technologies and studying their feasibility. This has
helped me in learning the technical aspects of our business and
further introduced me to other basics concepts such as
finance, team building, motivating and guiding them to achieve the
XYZ Ltd ( a subsidiary of ABC Ltd.). has deepened the
understanding and gave me insights into new skills such as
sales, marketing and people management. I learnt primarily by
observing experienced team members with expertise in their
respective fields or by reinventing the wheel by trail and error.
a technical person, my decisions are based on past experience,
intuition and logical reasoning rather than on value and people
which is equally essential for people involved in business.
At XYZ Ltd., my experience is helping me to lead a team. But
leading a team in our complex family business with multiple
products requires a holistic and deeper understanding of family
dynamics and business concepts.
MBA curriculum will give me knowledge of concepts such as finance,
strategy and organizational behaviour which were not part of
my previous education. I have realised that these areas are
of utmost importance to understand the intricacies in finance,
long term strategic planning and to enhance the people
management skills. The structure of the course which teaches how
to judge and take necessary steps for sustainability and
future growth of the business. In addition, specialized
courses such as change management, competitive marketing
strategies, managing family portfolio etc., are concepts that
cannot be learned easily through experience but are taught in
class lectures by distinguished professors.
dynamics, its business environment and unprepared next generation
are some of the main reasons for failure of family
business. Professional education such as MFAB followed by
class discussions between the peer group, experience and
networking will give me ample exposure to improvise and deal with
the future challenges of the business.
MFAB Essay 3 : According to you, what are the main
challenges faced by your business and how would you address
Essay: In today’s fast paced world, I have
identified some of the major challenges for our business and
further could foresee the needs that have to be addressed in order
to accelerate the growth trajectory of the business.
of the business: Centralized control
of the day to day operations by family members and their trusted
personnel will help achieve good growth up to a threshold
point after which it will become counterproductive. At this point
the family or family appointed person should start taking the
role of a mentor, rather than an instructor by establishing
systems, procedures & performance metrics. Once established
successfully, family should closely follow the performance
metrics of the business and at the same time indulge in growth
related activities of business. This can be achieved through
continuous process innovation that can reduce the cost of
production followed by advent of new products
and technologies etc.
process has already been initiated by the management, but
professionalizing a family business is an evolutionary process and
thus should be done gradually without risking the business
& Political uncertainties: This
has become a major concern for business depending on a region for
their income. One of the major issues lingering in Andhra Pradesh
is Telangana issue. This risk can be hedged through
geographical expansion and focusing on developing areas that have
favorable business environment.
Competition: Intense competition
because of globalization, organized as well as unorganized sectors
will affect the bottom line of the business. Innovation at
all levels of business such as marketing, cost cutting, product
development; etc. along with leveraging the brand image will
improve the bottom line and lead to a sustainable business.
Predominant focus should be on customer centric products.
resource which was abundant at one point of time has become scarce
now. The objective would be to constantly evolve and
strengthen the ‘HR Process’. Hiring the right people and
creating an amicable work culture in the company will help reduce
attrition rates. Leadership would play a major role in
solving this problem. It is the responsibility of the leader to
keep constant touch with the workforce, solve their work
related problems and letting them know that they are doing a good
job etc. will create a sense of ownership and work
satisfaction among the workforce. Organization should thrive
for ‘Opportunity for all’. Creating a sense of ownership among
lower lever cadres by encouraging them to share their ideas
would churn creativity within the organization. Automation of key
processes will help the company in reducing the dependence on
products & Technologies: With the
increase of competition, it has become crucial for business to
introduce innovative products and technologies to survive in
the market. In house product development as well as
collaboration with local or foreign businesses to launch new
products will help maintain competitive advantage over
MFAB Essay 4 : How do you plan to cope up with academic
rigour of the programme which involves understanding of
mathematical concepts while continuing to work in your business?
Essay: I started my career as a consultant with
leading corporates in U.S followed by joining family business as a
General Manager at ABC Ltd. Having worked for professional
organizations, I have been spending most of my time to develop XYZ
Ltd. as a professional organization. For day to day
activities, most of the systems and process are in place and
company desires to achieve profitability in the year 2014
-2015. We are confident that given the initiatives taken, we will
be among the top furnishing retailer in Hyderabad in terms of
volumes. To take XYZ Ltd. to the next level, I need to upgrade
myself and with utmost confidence I can state that
programme such as MFAB will be an asset rather than a burden.
of my experience, I will be able to conceptualize the application
of fundamentals that are taught in the class and adapt the same
in our organization. With background in engineering and
having completed courses such as parallel computing, I am always
interested in mathematical concepts and their underlying
workings. Moreover being an engineer, I always prefer to quantify
results which give me better clarity of the performance of
the company and will be enthusiastic to learn the same.
already done my masters in engineering, I am well aware of the
commitment required for studying a masters level program and
will keep consistent effort to achieve the same.
absence for a week at regular intervals will have an impact on our
business, but I will be managing the same as Mr. John Travolta (
Fictitious name), Director ABC Ltd. has accepted to lead the
organization in my absence.
the reasons mentioned above, I will be having sufficient time to
cope up with the rigour of the MFAB program.