I want to focus on two specific things from your inquiry:
1. Yes, you should retake the GMAT if it is within your power to score higher. 690 is an adequate score and is not something that will "keep you out" of most programs. But there is a magic line at 700 that you would much rather be above than below. The 10 points between a 690 and 700 are the most important 10 points on the entire spectrum. If you had a 710 and thought you could score 730, I'd tell you that scholarships might be impacted and sure, go for it, but don't sweat it. But 690 to 700 or 710? You have to gun for it.
2. You are about to fall victim to the "why an MBA?" trap. Most applicants take that question so literally that they admit weakness and write themselves right out of an admit letter. Why an MBA is not "I don't have what it takes to meet my goals." If that is your stance, why would a recruiter hire you for a summer internship (which happens literally weeks into the MBA experience)? And if a recruiter won't hire the YOU of right now, then a business school won't admit you. So you have to flip the analysis. If you want to move from the technical side of things to the strategic side, you have to show *that you are already doing that.* Maybe not formally, maybe not all the time, but that you are doing that. That you innovate and lead and that you have transferable skills that would make you AMAZING at strategy and business development. Everyone involved in this process - from admissions officers to recruiters - want to hear what you *can* do, not what you can't. Now, I might be overreacting to your inquiry and maybe you were not going in this direction, but it seems as if you might have been. Don't. Focus on highlighting how much you have developed/learned/displayed in your work, that you have shocked even yourself with outside-the-box thinking, that you are a shining star, that you are ready to formally pursue your passions and the next challenge. Then discuss how an MBA finishes you - it adds some key knowledge here, a dash of network here, some pedigree of over here. Business school is a place to be polished, not transformed.
If you can find that correct tone and career vision, you should be able to fare pretty well. I would also recommend playing "Demographic Derby" (as articulated here: http://educatedoutcomes.wordpress.com/2 ... ion-derby/
) with your school search and focusing on articulating personal passions, interests, and personalities so as to differentiate yourself from the many other applicants who share your demographic background and career goals.
Hope this helps!
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