Your purpose and interest in pursuing the M.S. in Enterprise Risk Management program, focusing on how it relates to your immediate and long-term professional plans, and your current roleThe areas you hope to explore in our curriculumWhat you will contribute to the program and student cohortHow you expect to contribute to the fieldA brief discussion of a particular risk field or issue of interest to youAs a reference of my background information, I uploaded my application essay of Imperial College, as well as parts of my resume. Feel free to ask me for more information if needed.Personal Statement
Throughout my undergraduate studies in Applied Statistics and Cognitive Science, I
have developed a strong interest in economics and business. I enjoyed the
interdisciplinary modules, especially those that had an overlap with business and
finance. Therefore, I actively took a series of business-related modules, which
usefully complemented my main studies in Statistics. These modules built on my
existing knowledge of quantitative analysis and introduced me to its practical role in
areas such as business frameworks and supply chain management.
In addition to Statistics, my major in Cognitive Science also had a strong connection
with business strategies. For instance, I gained insights into a number of
psychological theories frequently adopted by businesses to analyse consumer
behaviour. It was also fascinating to learn, through case studies of actual companies
and products, how psychological principles can be incorporated into strategic
marketing and decision making. The strategic and analytical approach also inspired
me to further explore a subject that studies the market and the most effective ways
for businesses to respond to opportunities and challenges.
Exposure to a range of business theories and practice has not only kindled my
enthusiasm for the subject, but also naturally fostered my commercial awareness
and business acumen. Moreover, I find it inspiring to approach business and finance
from an analytical and pragmatic perspective from the start, as I particularly enjoy
applying theories and quantitative methods to real-world scenarios.
I wish to study MSc Economics and Strategy for Business at Imperial College Business
School for several reasons. Firstly, I feel that the range of modules on this course as
well as the core-advantage-application course structure will ensure a smooth
transition from my undergraduate degree to the focused learning of economics and
business. For example, modules such as Business Economics and Analytics for
Applied Economics and Business will enable me to combine my existing data
analytics skills with in-depth knowledge of business and economics. Also, modules
such as Strategic Marketing and Corporate Strategy will help me develop a
comprehensive understanding of how businesses operate and the strategies they
employ to maximise performance and profit. I feel that I would benefit greatly from
progressing through the three phases, especially having the opportunity to
consolidate my knowledge and eventually apply it to real-world practice.
Further, my education in the US introduced me to teaching styles and learning
experience that were very different from those in my home country, which has made
me appreciate the importance of developing an international perspective in my field
of interest. For my master’s degree, I feel it is important to not only challenge myself
academically in order to reach the next level, but also step outside my comfort zone
and further my studies under a different system. As the higher education in UK is
renowned for its rigour and excellence, I hope to continue my education at Imperial
College London. This will allow me to further access diverse academic resources and
interact with lecturers and fellow students from all over the world.
My undergraduate degree has prepared me well for the demands of MSc Economics
and Strategy for Business. Statistics has honed my mathematical skills, especially in
calculus and linear algebra, whilst Cognitive Science helped me incorporate the
knowledge of psychology and human cognition into data analysis and the application
of business strategies. These will be useful for tackling the quantitative elements of
the course and for developing an in-depth understanding of the principles behind
business and economics theories and practice. Additionally, I have developed
effective communication, teamwork and time management skills through class
discussions, group presentations and individual projects. I am confident that I
possess the academic knowledge as well as soft skills required for a master’s course.
Apart from my academics studies, my internship experience at leading consulting
firms has also strengthened my ability to apply a range of research methods and
work on live business projects. For example, whilst working on a market entry project
as a Strategic Consulting intern at Detecon International GmbH, I was involved in
performing market entry assessment, environmental analysis using PEST and
value-chain frameworks, as well as data visualisation via PowerPoint and think-cell.
During the process, I became more adept at identifying the most suitable analytical
tools for different tasks and was able to deliver creative solutions for issues
encountered, such as streamlining the interview procedures with department
managers, which sped up the process by 20%. By participating in the interviews with
22 managers, I also developed effective communication skills and strengthened my
ability to conduct qualitative research. Moreover, my internship at iResearch
Consulting Group provided practice in performing benchmarking analysis and
monitoring market data for a particular industry. I believe my research knowledge
and skills, gained through practical experience, will lend well to my future studies
and help me contribute to rigorous and innovative research on MSc Economics and
Strategy for Business.
After completing a master’s degree, it is my goal to gain work experience in the
consulting industry, ideally as a business consultant. In my opinion, this role will
expose me to a wide range of industry areas and businesses, whilst developing my
professionalism through working closely with clients and stakeholders. To develop
all-around business insights and skills, I have participated in competitions held by
leading organisations such as Deloitte, AT&T and PwC. I strongly believe that this
course will build on my existing skill set and equip me with a deep understanding of
economics and business, as well as the strategic mindset necessary to become a
competent business consultant.
EXPERIENCE
.
.
Detecon International GmbH
Aug. 2020 – Present
Strategic Consulting Intern, ICT Industry
Guangzhou, China
• Engaged in interviewing 22 department managers in client’s company, derived issue log and risk register
from meeting minutes. Identified 150+ issues in 9 categories. Completed 1 week ahead of the schedule.
Constructed environmental analysis, benchmarking analysis, and capability analysis. Frameworks used
involve PEST, Value-Chain Analysis, Balanced Score Card, etc. Performed data visualization by using
PowerPoint and think-cell.
Assisted with structural and operational planning for the range of available options. Provided client the
strategic plan for next three years with suggested KPIs and cost structure forecast, to ensure the strategy is
practical and executable.
iResearch Consulting Group
June. 2020 – Present
Entertainment Industry Analyst Intern
Remote
• Worked in team of three to track and analyze entertainment industry trends by conducting primary and
secondary research, including 5 sub-markets: video, gaming, digital music, live streaming, and sports.
Generated monthly industrial reports of 100+ pages in average.
Performed benchmarking analysis for phenomenal products like Bilibili, Keep, and Tencent Reading App.
• Assisted with conducting in-depth interviews with industrial experts. Gained industrial insights while
deriving meeting minutes.
Roland Berger
Nov. 2019 – Jan. 2020
Part Time Assistant
Beijing, China
Assisted in reposition and brand localization of two international sportswear brands after the acquisition
by a Chinese company.
Conducted in-depth research on the sportswear industry in China mainland market, including situational
analysis of sportswear companies, comparisons of economic data, and inferences of target customers’ needs
from focus group; benchmarked against the leading sportswear companies worldwide; incorporated
successful rebranding strategies in the initial phase.
Gathered over 5,000 rows of product and pricing data from potential competitors by scraping products
information from Taobao.com, the most commonly used B2C E-commerce website in China, while
bypassed Taobao’s anti-scraping systems, resulting in 20% increase of efficiency and phase one ended two
weeks earlier than expected.
PROJECTS
Linear Regression on Boston Housing Price
Sep. 2019-Oct. 2019
• Designed heatmap for correlation analysis; selected the best fit model by using backward selection;
removed outliers and influential points by measuring DfFits.
• Applied Ridge, Lasso, and Elastic Net for regularizing models to prevent overfitting.
Airbnb Customer Relationship Management (CRM)
Mar. 2019 – Apr. 2019
• Ran an experiment of simulating the condition that guests are required to write a 140 characters message to
show their interests in staying at hosts’ houses. Performed A/B test in Python to identify if such message
enhances the likelihood of being accepted by hosts they contacted.
• Gained insights from t-tests and visualizations that writing messages to hosts is not an effective
way
of
enhancing the acceptance rate. Therefore, we should not consider adding such a feature.
DMV REAL ID Business Process Imp
Project
Nov. 2018 – Jan. 2019
Analyzed DMV’s long waiting time problem on different perspectives, and explore the potential secondary
problems it may result, including Root Cause Analysis, SIPOC Analysis, System Map, Business Life Cycle,
Balance Scorecard, and Capability Analysis.
· Defined the inefficient allocation of resources as the main problem; introduced solution on three aspects:
Augmented Queuing Algorism (AQA), Kiosks, and Customer Segmentation Filter.
.
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