Business Strategy Essay Example | Topics and Well Written Essays - 1000 words

Business Strategy - Essay Example sion plan the company also took a strategic decision to reassess its standard shop formats and sizes from 7000 sq ft to more economical 2400-4200 sqft range outlets. Evidence indicating that these strategies are effective can be identified in the sales increase of over $ 185 million during the period of 1995 – 2001 since the implementation of new strategy. The profits too had reached a record of $ 14.75 million in 2001 from $4 million in 1995.The number of outlets have increased from a total of 88 in 1995 to 174 by 2001. Franchisee outlets have grown from 40 to 111 during this period. The financial performance of the company has been rather unstable over the past 5 years with losses and profits resulting in alternative years. However the year 2000 and 2001 has indicated steady growth with losses being converted to profits. Own outlet sales account for over 70% while franchisee income represent 3%. 26% of the income is from mixes and equipment sales. The most profitable part of the business is the Franchising operation where the GP margin is 62%. The other two business units generate 15% GP. The company’s financial performance during past two years has been outstanding with earnings per share jumping to $ 0.60 in 2001. The sales revenue has grown by 37% in 2001 while net income has grown by 147% over year 2000. This $ 8.76 million net income growth is also facilitated by the reduced interest costs of about $ 1 million for the year 2001 as a result of IPO funding relieving the company of its costly capital borrowings. The statement â€Å" The numbers just d on’t work† has been made pertaining to the company’s targeted 20% sales growth vs. 25% growth in earnings for the year 2002. The statement cannot be supported with the current evidence, as it is most likely that the company will be in a position to achieve such forecasts. The additional 5% growth in earnings are likely to come from reduced costs through increased sales per existing outlets as well as cost

World Luxury Goods Industry Essay Example for Free

World Luxury Goods Industry Essay Luxury goods have more than the ordinary and necessary characteristics compared to other products of their category. Their characteristics can be divided into 6 parts Symbolism, Price, Extraordinariness, Rarity, Aesthetics and Quality. The global market size for the industry has been at a growth rate of 9% per annum. This trend has been seen in the market since 1995 till 2000. The luxury market took a hit from 2000 to 2004 when incidents like the September 11 and SARS epidemic took place during those years. The market was at a standstill till 2005 when it caught pace again until the subprime financial crisis. Recent years the growth rate has been at 11% average and this has been happening since 2009. At 2013 the market is sized at Euro 212 billion and has great potential going forward. The 10 % growth estimated for the market in 2013 represents the fourth straight year following the great recession that luxury goods revenues will grow annually by double-digits. Americas region is also projected to benefit from the market, with revenues growing by 13 percent by year’s end and Asia-Pacific sales particularly driven by China India are projected to grow by 18 percent. Growth in Europe is expected to be at 5 percent this year showing that the economic trends in these areas have affected the market for luxury goods. It is estimated that the luxury goods market will grow, in real terms by 4-6% per year between 2013-2015 increasing the market to between â‚ ¬240 and â‚ ¬250 billion by 2015. There has been a shift towards online sales in this segment with this medium continuing to grow faster than the rest of the market, at 28% annual growth for the year and reaching close to 10b Euros, nearly 5% of total luxury sales which larger than the luxury revenues of Germany. In online sales, shoes are the top-performing category. This level of online penetration is when brands have to treat their online channel as a integral part of their competitive strategy, rather than an an extra source of revenue. When we see the different products types in the industry it is seen that the Accessories highlights the best performance over the period 2007-2011 led by the emerging markets customers preferences with respect to luxury accessories. We see a shift in the market trend in apparels where the mens luxury sales increased by 16% in 2011 surpassing sales to woman. Mens luxury goods in 2011 accounted for 40% of the global luxury market up from 35 % in 1995. As you can see in figure above that the accessories and hard luxury goods have seen an increase in segment. In the luxury goods market the Italian brands have increased to gain the largest market share of luxury sales, moving from 21% in 1995 to 24% in 2013 almost equalling French brands market share of 25%. But in a consolidating market, French conglomerates are a driving force, owning 29% of the market compared to 25% in 1995. Key Figures Category Revenues Growth Forecast. 2012 (est) 2012 Leather Goods â‚ ¬33bn 16% Shoes â‚ ¬12 bn 13% Men’s Apparel â‚ ¬26 bn 10% Women’s Apparel â‚ ¬27 bn 9% Fragrances â‚ ¬20 bn 4% Cosmetics â‚ ¬23 bn 5% Jewelry â‚ ¬11 bn 13% Watches â‚ ¬35 bn 14% Total â‚ ¬212bn 10% The different players in this market are different for different product types like in the luxury watches segment it is Rolex, Omega etc, mens and womens apparels segment it is Armani, Burberry etc and leather goods segment it is LVMH, Ralph Lauren etc. Similarly many more in other segments and below are the different luxury goods brand with LVMH leading in revenue terms. Porter’s 5 forces model. THREAT OF NEW ENTRANT: Capital Requirement: The capital requirements for manufacturing, setting up stores and maintaining them are all very high. The break-even for these brands is very high. Their marketing and management costs such as rent, high salaries for craftsmen, heavy promotional activities etc. are very high too. A study indicated that they need to have 400 stores to develop a truly global presence. Brand Loyalty: The brand image associated with luxury brands and the loyalty created through CRM programs and exceptional service levels is very high for existing brands in the market space. However, the industry has been experiencing declining brand loyalty in emerging markets since their purchases are driven by status and show off motives and hence brand switching between brands perceived to have similar status is increasing. Nevertheless it takes considerable amount of time and expenditure to build its brand loyalty. Scale economies: It has been observed that consolidation of brands in the luxury market help in achieving higher economies of scale. Consolidation helps in increasing bargaining power with suppliers, obtaining operating synergies say in advertising etc., better financing options and risk management through diversification in the brand portfolio of the companies. LVMH, PPR (Gucci), Prada Group, Richemont have all undergone consolidation. Exclusive access to suppliers and distributors: Many brands in this segment have acquired their suppliers or have exclusive arrangements to protect their competitive advantage and insulate against rising costs in future. Also the numbers of distribution points are increasing as emerging markets are growing and luxury malls are coming up. For instance, LVMH acquired Leman Cadran and ArteCad SA- watch dial manufacturers and Delos Bottier, French artisan shoemaker. Retaliation from existing Cos- The powerful established brands tend to retaliate against the smaller and newer brands by say preventing them from having access to multi-brand retailers. Therefore we see that the threat of new entrant is high. THREAT OF SUBSTITUTES: Middle price brands: The growing mid ranged, high street brands pose as a possible substitute to the luxury brands. During economic crisis consumers tend to â€Å"trade down. † Counterfeit goods: The manufacturing and sales of counterfeit goods from Countries like China is growing. Quality design: increased internet accessibility and online shopping has made is easy for fast fashion brands to replicate designs and fashion trends of luxury brands within days/weeks of the fashion shows. There are no monetary switching costs to customers. However, there is a loss of prestige which is important to luxury brand buyers. Therefore the threat of substitutes is moderate. BUYER’S BARGAINING POWER: Decreasing buyer concentration: The number of buyers relative to suppliers is increasing. Only 50% of the 1. 6 MN wealthy were as rich 4 years ago. Level of dependency on buyer: The industry is heavily dependent on top-tier customers, mostly on a small super affluent population. Celebrities etc. being early adopters can drive consumption but single buyers cannot determine prices. Switching costs: There are emotional switching costs involved. With introduction of loyalty programs and associated privileges, the switching costs have increased. Possibility of backward integration by customers is very low. So on the whole, the bargaining power of buyers is low. SUPPLIER’S BARGAINING POWER: Number of suppliers: The raw materials are limited and exclusive. There are limited high skilled workers and there is also growing shortage since not many youngsters are willing to learn. For instance, Couture-level embroiderers in France have dropped from 10000 in 1920 to 200 in 2013. Level of Dependency: Some key components and materials are outsourced. For eg: LV outsources its monogram leather, in 2012, Chanel ordered large chuck of leather from a supplier in case they wouldn’t find more. Supply substitutes: Most materials are highly specialized and difficult to substitute. Switching costs to new suppliers are high since the quality is at risk and there is a past coordinating experience which is important. Forward integration possibility is very low since the luxury groups are much more experienced and wealthier than their suppliers. Thus, the bargaining power of suppliers is moderate to high. COMPETITIVE RIVALRY: Competitive structure: The industry has an oligopoly structure since it is dominated by few large independent players. LVMH, Richemont and PPR Gucci are the big three. Demand conditions: The demand is growing and will grow at a relatively high pace as China and Hong Kong markets grow further. Exit Barriers: Some brand exist despite the fact that they do not make any/much profits due to emotional reasons. For instance, Christian Lacroix hasn’t made any profit in 22 years. There are some highly specialised supply chain components that may be very difficult to sell. Chanel has 6 atelier d’arts under it which has no alternative usage. The rivalry among existing competition is high. Luxury Goods-Developed Countries Overview. There is so much talk about China, Brazil and other emerging markets as the future of luxury market while there is some truth to it we cannot ignore the developed markets. The current growth and hot spot for luxury goods is still in the developed countries. American region is the king of luxury spending; it grew at 4% in 2013 compared to 2012. There has been growth in the number of new store opening in tire two cities in these developed countries going to show that companies see potential in the smaller region and there is increase of disposable income in the smaller cities. Visitors from developing countries still prefer to buy luxury goods from the developed countries; this has also led to an increase in the demand of luxury goods in the developed countries. According to Luxury Goods Worldwide Market Study Spring 2013 there are significant regional differences in the luxury market developed countries and all of them have their unique differences. Some of them are: Europe will see 2% growth in the luxury spending in the next few years, with increasing spending by tourists even though there is lower spending by European nationals. Tourist spending is driving half of revenues in Italy, 55% of revenues in the U. K. , and 60% of revenues in France. Japan has experience a decline in luxury spending by 12%. Although in real terms, the consumption has increased as the country has emerged out of stagflation. The Middle East continues to be relatively strong, with a 5% growth. The demand for Luxury goods remain strong in Dubai, while Saudi Arabia is also gaining share to become the region’s second largest luxury market. As these countries are oil rich they like the flamboyance and luxury. Online sales, of Luxury goods have gained popularity in the last few years in the developed countries. They are growing faster than the brick and mortar stores, turning in 28% annual growth for last year and reaching close to 10 billion Euros. In online sales, shoes are the top-performing category. With online penetration high, brands should treat their online channel as an integral part of their overall channel strategy, rather than an just an another source of additional revenue. According to the â€Å"Luxury Goods Worldwide Market Study† finds accessories, including leather goods and shoes, have definitively become the largest segment, growing 4% for 2013 to reach 28% of the total revenues. Apparel is now a quarter of the market, growing at 1%, Apparel was very popular couple of years ago. Perfumes and cosmetics had a 2% growth in 2013. Luxury cars, wine and spirits, hotels, in-home and out-of-home food, home furnishings, and yachts all show growth, with luxury cars, wine and spirits, and hotels outpacing personal luxury goods and leading to an overall 2013 market of â‚ ¬800 billion of affluent spending, up 6% over 2012.compared to 25% in 1995. The luxury goods market in the developed countries is becoming very complex and in some areas is starting to look like the fast-moving consumer goods Industry. Brands have to adapt themselves by bringing in the level of detailed customer insight to standout of the clutter. While this Industry is still showing steady but not extravagant growth, brands need to adjust to a new set of scientific tools in order to keep up with other markets. CAGE Framework for Developed Countries Cultural Luxury Goods Industry in Developed countries over the years have matured and have formed definite distribution channels where most of the time they try cross selling to their existing buyers. However new customers enter the market, they account to an addition of 1%-3% of the total population involved in the luxury goods instry In Developed countries Culture is often considered with income level to follow a trend related to luxury goods. Considering a people with zero income level when shifts to a income level and wants to buy a luxury good his decision is dependent upon the income he is currently earning and the culture he is following in the ratio of 3:2. Administrative Initially as taxes were collected in the form of luxury tax from the customers in developed countries, they were indifferent to it as they had a considerable large amount of disposable income. Over the years as people entered the luxury market they got affected by such high rates. The government how of such countries depend on these taxes as they generate a large amount of revenue. Geographical Most of the developed countries are the manufactures of these luxury goods they tend to be cheaper in these countries. As the demand of the countries is very high they tend to acquire the fixed costs at an early stage, later just trying to recover the variable cost making it cheaper. Most of these developed countries have access to superior products used in manufacturing these products thus making the end products to be easily manufactured and thus slashing the rates, thus inducing more customers to buy the product Economic Differences GDP and per capita income of the developed countries is high compared to other emerging countries. Thus showing they have a higher disposable income and standard of living is high proving that they can afford luxury goods as their basic necessities of life is fulfilled. Luxury Goods-Developing Countries Overview. When we talk about developing economies we will be taking into account Brazil China and look at the luxury goods market in these two economies. Almost half of the luxury goods produced worldwide are sold in the emerging markets with China leading the way. The luxury goods market has seen tremendous growth in China whereas the same growth hasn’t been replicated in India Brazil because of some regulatory issues (high import duties). Looking at China, the GDP has been growing at almost 10% y-o-y which has been increasing the denomination of wealthy Chinese in the country. When you look at the Luxury market, the Asia-pacific region has been the best performer with a growth rate of 25% in 2011 and accounting for about 29% of the worldwide revenues. The growth of this market in China has been tremendous which can also be put down to the fact that many e-commerce players have come in to fray which give the digital consumers a chance to make use of the price advantage. The market has been helped by the fact that there has been a shift in the mentality of the Chinese people wherein they want the real stuff now rather than settling for the counterfeited goods. In addition to this due to the weakening Euro and the increase in the number of upper class citizens the Chinese people have been undertaking more and more overseas trips which in turn has increased the revenues for the Luxury market. Now coming to Brazil, the luxury goods market was about 2. 7 billion dollars in 2012, and the expected growth rate was estimated to be about 15-25% for the next five years which was put down to the fact that it has become the 7th largest economy in the world the purchasing power and the income rate for an average Brazilian is growing. Brazil now has 36 billionaires 165,000 millionaires out of which about 50% are below the age of 35, which will help boost the luxury goods market in the country. Now because of the unique services that are being provided to the consumers in Brazil, also the payment plan by installments and also the fact that a huge number of showrooms are being opened in the country the consumers are willing to buy the luxury goods for which they had to go abroad in the earlier days. STRATEGY – STRUCTURE PERFORMANCE STRATEGY: Strategic approach to product offer and price positioning. Focusing on the E-commerce platform as well in order to cater to the increasing number of digital consumers Opening up of new stores and availability of quality products easily. Focus on the retail chains in order to aid the distribution as this is the highest grossing medium (Omni-channel Retailing). Increase of scale in order to improve margins. Shift towards the accessories sector as this has the highest growth rate amongst the Luxury goods market. Store experience. Real time communication between the brand and the consumer via blogs communities. Off-price outlets. Consolidation. Diversification. STRUCTURE: Oligopoly: Very few luxury groups dominate the market. Large number of small individual brands. Individual brands being introduced by the large market players. Big Three LVMH Richemont PPR Gucci PERFORMANCE: A CAGR of +25% in China for the luxury goods revenues over the period 2008-11. A CAGR of +18. 3% in China for E-commerce buys during the period 2007-10. 31% increase in constant value terms for Brazil, 72% for China 86% for India over the period 2008-13.

Conservative Personalities :: essays research papers

Conservative Personalities 1. Conservative From the introduction, we know that the performance has begun to suffer under Jack's style of leadership. It is mainly due to the personality of Jack. He is a quite conservative person who has a tendency to maintain a state of affairs without great or sudden change. Also, his style of leadership is task and production-oriented. Task-oriented leadership tends to emphasize task effectiveness. So, from the case, we can see that he would turn down the subordinates* suggestion whenever new ideas come. Jack seems to define role and tell people what, how, when and where to do various tasks only. On the other hand, Jack isn't a relationship-oriented leader as he doesn't emphasize the building of relationships with employees. Accordingly, Jack can't maintain a good relationship with his subordinates. In his mind, he thinks that there is no equality status between the superior and the subordinates. He would highly respect the superior order without questioning. Thus, we can see that Jack is very loyal to Carfax Corporation and works hard to follow the company policies and procedures and the orders of the managers above him. Under such leader, the performance of the financial section has begun to suffer. Due to his conservative personality, the tendency to face changes is very low. When sudden changes occur and as the same time the upper doesn't give guidelines immediately, Jack can't handle well under this situation. Then the flexibility and imagination in facing different situations tend to absolutely low. Because his task-oriented leadership, he always neglects the new ideas and unresponsive to change. Mostly important, Jack doesn't realize the importance of staff motivation. Subordinates think that the budget in their section is comparatively lower than other department. As a result, they feel they are underpaid and overworked. Overwork implies that the shortage of workforce. And underpaid mean that the workload is greater than the payment for it. As Jack has such â€Å"easygoing" manner, considerable dissatisfaction in the department is resulted and everyone thinks that Jack is just a puppet for management. 2. Team Work Not only the conservative personalities cause the financial section to suffer, but also he has neglected the importance of team work. Team work means that two or more people who interact with an influence each other towards a common interest. Financial section is actually a team work. However, from the case, we can see that Jack doesn't manage his subordinates to be a team work. Instead, he looks them as labors. He only orders his subordinates what to do and how to do without any subordinates* ideas. Then it just like a factory

The interesting topic

The purpose of this unit is to carry out a practical investigation of a topic chosen from a set of options supplied by OCR. In the course of the investigation, there will be an opportunity to look in depth at an aspect of computing that goes beyond the subject matter outlined in A451. The tasks will require a significant element of practical activity, which must be evidenced in the report and which will form a major element of the assessment. The topics will enable practical investigation and some supplementary research to be carried out in a variety of ways.These will include, but are not restricted to: practical investigations with hardware or software practical investigations with online resources Supplementary research may be required and resources may include: web-based enquiry contact with IT professionals research using computer industry pu blications OCR 2010 A452 jani3/jun15 3 Candidates should complete all tasks. Validating web forms Many web sites collect information from people using forms. These forms can be put together using HTML form objects. The data entered is normally sent back to the web server where it is processed by database software.It is always a good idea if the data entered into a computer system is validated in order to reduce the number of errors that occur. A lot of this validation can be carried out at the client end of the process. In other words, processing can be carried out by the browser. There are various ways in which this can be done. A common way is to write scripts that intercept the input data and check it before it is submitted to the server. There are various scripting languages that can be used to write the necessary validation routines. A popular example is JavaScript. Most browsers are able to interpret JavaScript.JavaScript, Just like other elements of a web page, is best written using a plain text editor such as Notepad. Scripts can be embedded in a web page or saved separately as JavaScript files, using the exte nsion Is. The web page can access these scripts when needed. Here is the starting point for a form that collects information about exam entries. File Edit View History Bookmarks Tools Help http://examentry. net Exam entry Exam Entry Form Name Subject Submit Fig. 1 It contains two text boxes. When the Submit button is clicked, a script checks that both boxes have been filled in.Here is the HTML code that lies behind the form and the JavaScript code that does the validation. function validateForm() { var result = true; if (document. ExamEntry. name. value=†) { msg+n'ou must enter your name â€Å"; document. ExamEntry. name. focus(); document. getElementByld(‘name'). style. color=†red†; result = false; if (document. ExamEntry. subJect. value=†) { msg+n'ou must enter the subject â€Å"; document. ExamEntry. subJect. focus(); document. getElementByld(‘subJect'). style. color=†red†; result = false; return result; alert(msg) In order to wor k, the page needs to have access to a second HTML file called uccess. tml. Its purpose is to test the code. It Just needs four lines: Success message You entered all the data required Your assignment Describe how this HTML code produces the form displayed in the browser (Fig. 1). 2. Describe how the JavaScript function performs the validation check. 3. Describe how the HTML calls the validation routine. 4. Add another text field to the form to take the user's examination number. Extend the Javascript code to validate this field to make sure that it is not left blank. Extend the Javascript code to make sure that the user's examination number is xactly 4 digits.Produce evidence to show that you have planned, written and tested your code. 5. Add a set of radio buttons to the form to accept a level of entry such as GCSE, AS or A2. Write a function that displays the level of entry to the user in an alert box so that the level can be confirmed or rejected. Produce evidence to show that yo u have planned, written and tested your code. 6. Produce an evaluation of your solutions. 7. Write a conclusion about the effectiveness of JavaScript validation routines to reduce the number of errors that are made in data input. BLANK PAGE Copyright Information OCR is committed to seeking permission to reproduce all third-party content that it uses in its assessment materials.

A Single-Dose, Randomized

A single-dose, randomized, two-way crossover study comparing two olanzapine tablet products in healthy adult male volunteers under fasting conditions Clinical Therapeutics, Volume 31, Issue 3, March 2009, Pages 600-608 Ahmed H. Elshafeey, Mohamed A. Elsherbiny, Mohsen M. Fathallah Methods: This bioequivalence study was carried out in healthy male volunteers using a single-dose, randomized, 2-way crossover design under fasting conditions.Statistical analysis of the pharmacokinetic parameters Cmax, AUC0-72, and AUC0-? was conducted to determine bioequivalence (after log-transformation of data using analysis of variance and 90% CIs) and to gain marketing approval in Egypt. The formulations were considered to be bioequivalent if the log-transformed ratios of the 3 pharmacokinetic parameters were within the predetermined bioequivalence range (ie, 80%–125%), as established by the US Food and Drug Administration (FDA).Both the test product (Trademark: Integrol ® [Global Napi Pharma ceuticals, Cairo, Egypt]) and the reference product (Trademark: Zyprexa ® [Eli Lilly and Company, Basingstoke, Hampshire, United Kingdom]) were administered as 10-mg tablets with 240 mL of water after an overnight fast on 2 treatment days, separated by a 2-week washout period. After dosing, serial blood samples were collected for 72 hours. Plasma samples were analyzed using a sensitive, reproducible, and accurate liquid chromatography-tandem mass spectrometry method capable of quantitating olanzapine in the range of 0. 67 to 16. 7 ng/mL, with a lower limit of quantitation of 0. 167 ng/mL. Adverse events were reported by the volunteers as instructed or observed by the resident physician, and were recorded, tabulated, and evaluated. Results: Twenty-four healthy adult male volunteers participated in this study. Their mean (SD) age was 24. 7 (6. 2) years (range, 19–41 years), mean weight was 73. 4 (6. 7) kg (range, 64–89 kg), and mean height was 174. 25 (4. 6) cm (range, 168–186 cm).Values for Cmax, AUC0-72, AUC0-? Tmax, t1/2, and the terminal disposition rate constant were found to be in agreement with previously reported values. The differences between the 2 products did not reach statistical significance at P ? 0. 05 (90% CIs: Cmax, 101. 82–124. 79; AUC0-72, 93. 36–102. 04; and AUC0-? , 88. 57–101. 77). The test/reference ratio of these parameters was within the acceptance range of the FDA criterion for bioequivalence. Both formulations were apparently well absorbed from the astrointestinal tract (ie, no specific gastrointestinal tract-related adverse events were reported). Conclusions: In this small study in healthy male volunteers, there were no statistically significant differences in any of the calculated pharmacokinetic parameters between the 10-mg test and reference tablets of olanzapine. The 90% CIs for the ratios of mean Cmax, AUC0-72, and AUC0-? were within the range of 80% to 125% (using log-transformed data ), meeting the FDA regulatory criterion for bioequivalence. Both formulations were well tolerated.

incest essays

incest essays Until very recently around early part of 1970's, the sexual assault of children within their families was rarely openly discussed until the emergence of the second wave of feminism. Incest has been variously defined. The definition that will be used here is a wide one, which includes sexual assault of a female child by a male member of her immediate family ( father or stepfather) or extended family (brother, grandfathers and uncles) and/or trusted family friends. These men are in generally in a relationship with the child which involves trust and respect to an authority on the side of child, and family, social and economic power on the side of the perpetrator. Children are vulnerable and dependent on adults for their very survival. As with other crimes of sexual assault, the sexual abuse of children is a crime which is characterized by a high incidence of under- reporting. The reasons for this include the fact that the abuse is taking place within the privacy of the family. The victims are children of all ages some of whom are so young they cannot talk and do not have the knowledge to know that anything is wrong. The perpetrators are men whose authority children are told to obey. Often the child is also threatened to keep what is happening a secret between the victim and the perpetrator and victim. Until quite recently, with the rise of feminist base analysis on subject of child sexual abuse, interpretations about child sexual abuse tried to it pinpoint the cause of this crime anywhere but with its perpetrator. In this paper I will explore two different explanations that try to explain child sexual abuse, the psychoanalytical theory as propose by Freud ( I will not analysis farther interpretations of Freud's psychoanalytic theory for it is too broad for the length of this paper nor will I discuss mother blame in this theory because we will take it up in the dysfunctional family model ) and the dysfunctional family model. I wil...

How to Write a Personal Statement for Medical School

How to Write a Personal Statement for Medical School How to Write a Personal Statement for Medical School Personal statement for a medical school is a challenge. Medicine is a challenging and exciting subject in general. How to lay down your soul in front of a stranger and explain that is your dream to study medicine and at the same time sound reasonable and capable of doing so? It is not a secret that medical schools try to find and attract the best applicants. You have to be young, you have to be motivated, you have to have the guts and the capabilities and sometimes even that is not enough. So how to make yourself visible with a single statement? Basics of writing personal statement for medical school First, a personal statement for medical school shows who you are and why you want to study medicine. Second, you have to distinguish yourself from the rest in the personal statement; show that you are more capable than the others, more enthusiastic and that you are the one who deserves to be accepted. You have to start writing your personal statement for a medical school by showing yourself, what drives you, what interests you in the medical field, what are your values, beliefs, interests, etc. Make a strong introducing sentence, add everything that will make you closer to the people reading your personal statement for a medical school capturing their interest and making them acknowledge you. And it is not only who you are, but also who you want to be after you graduate. What are your goals, dreams and future achievements? Planning a personal statement for medical school Before starting to write a personal statement for a medical school, in fact before starting to write whatever, you need to prepare notes and a plan. You must have those notes memorized and be able to reconstruct them at all times because this is your future plan of life. You must have the strongest evidence why you want to study medicine. This is not a random choice; it is something that you have been preparing for a long time. The reasons for studying anything are deeply personal and so it is your motivation on it. You simply need to sit aside and put on paper why you want to do that. You also have to consider who you are writing to. You have already targeted a couple of universities. Your statement will be considered and read by a committee of people for ten or fifteen minutes. What they will be looking for is your MCAT scores, GPAs, recommendations and applications, so write and emphasize on that. Useful advice in writing a personal statement for medical school There are some other useful pieces of advice on writing a personal statement for medical school. There are some things that you should avoid: First, writing personal statement for a medical school is not your resume, especially in a narrative form or a confession. This is not a plea for acceptance. It is very important not to use conceptions that you do not fully understand. Stick to the basics. Also, avoid using slang or abbreviations. This is not a statement about how your life is unfair to you, what it means for you or for your religion, how important a friend or a close person’s sickness was to you. This is about you, being a non-specialist who writes to a smart and intelligent audience. What are your actions so far in a medical field? This is the essential and most important part! Have you done some research, internship, voluntary work or whatsoever that shows that you do really have interest in that profession even after gaining a firsthand experience because let’s be honest, that is not an easy job and having a real taste of it shows whether you are really capable of doing it. Make your statement flow. Use good English and right punctuation. At the end, keep an eye on the word count. Your statement has to be well-organized and sharp, do not get the reader bored with too much information! Proofread the essay and make sure that all information is proper and accurate.