Scholarship / MAJOR FIELD/ FUTURE PLANS/ STUDY OBJECTIVES - Fulbright Scholarship [6]

Dear friends,
I am going to apply for Fulbright Scholarship. Would you please review my answers and my essays? I will be thankful if you check them and add or delete anything should you decide

12. WHAT IS YOUR PROPOSED MAJOR FIELD OF STUDY? WHAT IS YOUR SPECIALIZATION IN FIELD? BRIEFLY DESCRIBE THE SPECIFIC
AREA OF THE FIELD IN WHICH YOU PLAN TO SPECIALIZE.

Business Administration
I will focus on business management, which will allow me to develop and strengthen my general management and strategic business skills. My specific curriculum will span accounting, financing, human resource management, leadership development, and effective, strategic decision-making.

13. FUTURE PLANS: (Describe the career you plan to pursue after completion of study or research in the U.S., e.g. Teaching, government, business, industry or any plans you might have for continued study or research in your home country. Also indicate if you will be returning to former employment, or if you have been promised a position in your home country after completing your U.S. training.)

After completing my study, I intend to return to my current employment. Over the course of the following five years, I apply my new and strengthened skills on an organizational level through strategic planning. I anticipate that I will move to a higher-level executive position, which would give me more responsibilities and challenges, such as effectively coaching and motivating employees.

MY STUDY OBJECTIVES
Since graduating from law school, I have worked professionally, providing legal advice on lending and financing; conducting legal transactions; and developing of normative documents in various fields such as microfinance and investment. Later, in my previous position as Deputy CEO of a major public corporation and in my current position as a Head of procurement department of a largest public corporation in airport industry I was entrusted with many tasks in different strategic areas: design and implementation of the company's development strategy; support of its foreign economic activity and investment; development and implementation of business projects; legal support, human resources management, and many others. My previous experience that I gained in managerial positions in smaller businesses and non-profit organizations has proven insufficient for effectively steering larger companies. When I started to work at larger corporations, I had to address the many mismanagement issues of my predecessors. I realized that my well-developed knowledge of legal disciplines and the experience in leadership positions in smaller businesses and non-profit organizations does not in itself make me an effective corporate manager.

Best practices in US business education aim specifically at functioning within the realities of a global economy and emerging economies. The US business schools experience will prepare students for business at a new level. The distinctive feature of US business schools is to give the skills and knowledge in a practical setting which will stretch and prepare students for business leadership. Participation through the case method, learning teams, and experiential learning allows students to obtain not only new knowledge but also strengthen their leadership and management skills. Through a rigorous and constantly evolving curriculum I would be able to gain knowledge and skills with which I could organize effective management in my current company. Gained knowledge of marketing management and corporate governance principles would better orient our services to consumer demand, help me implement flexible regulations and timely changes in the company appropriate to environmental exposure, and strive toward competitive advantages, which ultimately contribute to the survival of any organization and achieving its long-term goals.

The desired concentration on Corporate Management and Strategic Management will give me a chance to explore a topic more deeply and develop of general management and strategy skills. Acquiring more knowledge on strategic management, organization management and business planning would allow me to increase the efficiency and management practices of my company, ensure transparency in the company's activities and business development capacities of it, as well as timely and accurately respond to new market requests and lead the company to a new international presence.

The knowledge I gain would also allow me to promote principles of corporate governance in the business environment in Kyrgyzstan and increase the investment attractiveness of companies or projects, and facilitate their effective development. It is in this direction where there is a lack of knowledge and a need in it for business and investment.

Moreover, completion a Master degree in Business Administration will help to achieve my personal goal: to make a contribution to my country's economic development. With legal expertise and knowledge of strategic management and international standards of business, I would be able to promote the government's support of the private sector, contribute to legislative reform initiatives, work on simplification of administrative procedures, and provide technical assistance to strengthen the export competitiveness of enterprises in certain sectors of the economy through business associations.

 
Essay
Good management is the art of making problems so interesting and their solutions so constructive that everyone wants to get to work and deal with them.

- Paul Hawken
Today, emerging markets serve as the world's economic growth engine, and one of these emerging markets that offer particularly compelling long-term benefits is Kyrgyzstan. All of the new history of Kyrgyzstan is under the sign of market-oriented reforms. Despite some obstacles that are on the way of becoming a democratic country, as well as difficulties in reforming market institutes, Kyrgyzstan is still a predictable and attractive country for doing business and for the further integration into the global economy. Being a democratic nation, the Kyrgyz Republic promotes a convergent system of economy based upon such key principles as free entrepreneurship, a free pricing system, free competition. Companies in Kyrgyzstan are increasingly embracing free-market thinking and adopting better management practices. Many companies now have stronger balance sheets, are more profitable and more committed to improving shareholder value than in the past.

The history of professional management in Kyrgyzstan is very short it has undergone substantial change during the past two decades as the country has transitioned from a highly centralized, planned economy to a more market-oriented economy. And of course, for Soviet, post-Soviet and Kyrgyz management it was a revolution as a certain management class was created, there appeared the profession of manager and a corresponding market of managers. But during all these years not all new managers have learnt to manage business really effectively and despite some positive changes in business administration there are no tangible and accomplished results of effectively steering a business. Now, not long after it is getting clear that the development of the business environment depends not only on a state support, but also on the quality of corporate management in the companies. As a result, we got an inefficient management style where the following traits are typical:

- Dominance of authoritative management methods;
- Excessive centralization administrative decision - making functions in hands of executive body;
- Absence of clear development strategy for the company;
- Concentrating on the current problems at the expense of creating long-term competitive advantages;
This management style has generated a certain stereotype of thinking and behavior. An insignificant objective, minor change, orientation to eliminating the consequences instead of the source of the problem, derives from here. Orientation towards the process and volume of production instead of the market situation and profitability, dominates in the management of the companies. The managers of the companies do not always have the qualifications necessary for operating a business properly. Thus it can be concluded that professional management practices in Kyrgyzstan is different in many ways from international business standards.

The quality of corporate governance is one of the key factors determining a business climate and, consequently, prospects for economic growth in the country. The experience of western companies illustrates that the introduction of corporate governance practices is especially important for business in Kyrgyzstan. An over-riding commitment to implementing corporate governance in practice is likely to lead to very important long-term benefits. It will improve a company's reputation, reposition the brand, enhance the efficiency of capital investments, make a step change in the quality of customer service. In this way, Kyrgyz companies that understand that the benefits of corporate governance outweigh its costs are best placed to become tomorrow's global players. However, blind copying of Western practice of management and business behavior is also unacceptable. Many of what is good for the U.S. business or European business not acceptable for Kyrgyzstan. It should be used only the best sides along with features of national economy.

Within the MBA program in US, I would be able to strengthen my leadership skills, learn to manage people on an organizational level, deepen my knowledge of strategic planning and principles of corporate governance. Acquired knowledge in the field of corporate governance and strategic management will allow me to increase the transparency of company's activity as well as to improve the quality of management and reorient it to satisfying market demands and increasing the value of products and services. As a leader in my company, I would like to advocate international business standards more widely-as a central feature of business life and national culture through collective action-working with other companies, associations and institutions, to share good practices, experience, and encourage other companies within and beyond the value chain.