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What are the significant challenges and opportunities currently facing the industry of a functional area in which you are most interested? As a change agent and visionary leader, how would you make changed to these industries in order to make them to be a successful business in the next decade (please describe the characteristics of a successful business in the next decade? Why? ) (500 words, double-spaced, Illinois, Vanderbilt)

International trade is the area of main interest to me. Based upon my considerable experience in this field, I believe that the most significant challenges will come as China faces a bad reputation for business integrity and intense competition in the exporting industry.

First of all, in general the business integrity of Chinese international traders is not good, which undermines the potential for success in trade between China and other countries. In my work experience, I have encountered reluctant business clients many times, mainly due to a record of Chinese traders not fulfilling their contracts due to changes in the market. In the short-term, canceling orders has helped Chinese traders avoid losses, but in the long-term such behavior has weakened their business reputations and therefore their profitability.

Furthermore, the overall competitiveness of Chinese exporting companies is poor. The low technology of most products that are exported has resulted in a poor ability to compete. The power in the marketplace lies mainly with the foreign buyers due to the availability of substitutable products from other countries. Although China's volume of exports has increased sharply in recent years, it is mainly due to low technology products that are easily duplicated by other countries, resulting in an overall loss of competitiveness.

To face these challenges, my long-term career objective is to use my extensive work experience as a manager in international trade combined with the analytical, quantitative and leadership skills that I will learn in your MBA program to establish my own international trading company. I believe a successful business is based on integrity, not notoriety; built on change, not complacency; organized on partnerships, not self-sufficiency; and constructed on technological advantages, not old-fashioned bricks and mortar.

First of all, a corporation's integrity must be based on a near-religious focus on customer satisfaction. This is the pivotal element that can ensure the success of a corporation, especially over the long term. A strategy based on reliability of the organization and the trust of customers is the surest route to success in today's business environment.

Secondly, constantly adapting to change is an integral part of success. At the end of the last century, we were all witness to how arrogance and complacency lead to failures at IBM and Wang Laboratories, Inc. At the same time, we observed consistent innovation at GE. No matter whether it is a large, prestigious corporation or a fast-developing small company, implementing change is a basic necessity for a company to succeed in the twenty-first century.

Thirdly, partnerships are key to success in this hyper-competitive business environment. The information age and a powerful new wave of innovation have made some interdependencies inevitable in order to react more quickly to rapid changes in the marketplace. A good example is the partnership of Cisco Systems and Microsoft, which resulted in new technologies to allow networks to immediately recognize user's identities and locations for customized responses. Over the next decade, corporations will increasingly see a need for such close business relationships for success.