My ambition in life is to become a renowned business personality dealing in goods of luster; preferably items such as gold watches, necklaces, rings and so forth. I recognize that an MBA in Luxury Management would edge me closer to the realization of my dream career. Since I was young in third grade I remember watching television and I would see celebrities wearing golden chains around their necks, musicians especially rappers mostly had grilled teeth that were made out of gold or silver. From then on I developed a desire to engage myself in the business of luxury items.
I also have a desire to know more about expensive wines and spirits, fragrances and cosmetics. The lifestyle of the rich and their lavish spending entices me as much as it excites me. Hence, developing a career in Luxury Management at this point in time would ensure that I live up to my expectations in life. Further, I believe that the Luxury business is booming and requires that individuals tasked with the management of the franchise have the necessary knowledge and skills required to run it successfully. More importantly, an MBA in Luxury management would help me gain specialized skills and understanding of the luxury market.
This point in time is appropriate for me to pursue a Masters’ Degree in Luxury Management because of three main reasons. The first is that it feels like it’s the right time, secondly, I am in my 20s and I believe that this is the appropriate age bracket to advance in education especially such as getting a Masters’ Degree. Thirdly, I would want to establish a franchise is Luxury items by the time I hit the age of thirty, therefore, I believe that attaining a Masters’ Degree in Luxury Management would enable me to gain necessary knowledge and skills to be capable of developing my own business and launch. I believe that Luxury Management is the right business for me as it brews in me a call of duty to service in leisurely items. This resounds with the latest developments following the economic downturn of 2007 where analyst note that Luxury consumers have become more demanding. This was, as a result of the great recession. Therefore, the necessity to gain knowledge and skills in the subject is paramount for the realization of my career objectives (Little).
As part of my dedication to attaining quality education in regard to my MBA in Luxury Management, I conducted an analysis of several institution within and without the New York State that offer business courses in Luxury Management. I must admit that I was spoilt for choice since the United States has some of the best Universities in the world joining either of them for me would be an honor. In my analysis I found that the Harvard Business School, MIT Sloan School of Management, London Business School, Columbia Business School, Wharton School of Business, the University of Pennsylvanian, Kellogg School of Management, Northwestern University, Booth School of Business, the University of Chicago, Haas School of the Business and University of California, Berkeley all had Masters’ programs in Luxury Management. However, after close scrutiny of each I found that The Leonard N. Stern School of business in New York City stood out.
One of the determining factors that gauged my interest in Stern is the caliber of graduates that it develops each year who go on to work in the most revered financial business sectors such as Wall Street and other high ranking corporate finance careers. Moreover, on analysis of the course outline offered for the MBA in Luxury Management at the University I became contented that I was in the right place. The outline allows for specialization that would serve to be of impeccable knowledge input of knowledge and skills in the business. In addition, the outline present courses that are tailored to impart knowledge on the main challenges that face the franchise enabling students to counter them appropriately in practice (NYU Stern).
Most importantly, the course outline provides students with the knowledge and skills requires for dealing with customers with emphasis on the establishment of a strong relationship with them. Similarly, the course equips students with the knowledge about branding and brand image with respect to the role that this plays in the success of the business. By conducting this thorough research, I conclusively arrived at my choice of Stern as the best institution to accomplish my ambition.
After completing my graduate degree, I aspire to be an accomplished Luxury Products Manager. I hope to establish my own franchise, probably start with a jewelry shop in New York City and take control of the shop by practicing management skills gained from the course. Subsequently, I hope to expand my business as a brand to other cities and states in the USA. After the achievement of this objective, I would develop other Luxury product brands such as Wines and Spirits adding this to the business I already developed in the Jewelry franchise.
Little, Katie. "Young and Fashionable: Gen Y Flocks to Online Luxury." CNBC 14 February 2012. Web. 3 March 2014. <http://www.cnbc.com/id/46373062/>.
NYU Stern. Luxury Marketing. 2014. Web. 3 March 2014. <http://www.stern.nyu.edu/programs-admissions/full-time-mba/academics/specializations/luxury-marketing/>.