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27 Dec 2020, 09:13
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Hello GMATClub, Businessconquerer here with a fresh new perspective on the Business school admissions.
If any of you has ever been in a negotiation situation, Business school process is just another negotiation process.
One way of looking at it-
You put up a bid by displaying the capabilities you will bring to the table and how those capabilities can enhance the school's money generation and endowment (Allegedly).
So, basically, the Business school yield to the demand of the market. The increase in diversity was (allegedly) pushed not by the research but the growing riots of inequality. Take HBS for example, it took them 200 years to admit the first man of color. Truly after so many revolutions and riots. I must say that the current ways of bringing equity are not perfect but barely functional because in an attempt to answer the demand of the market (the riots and fight for equality in this case), they end up yielding to a low intellect cut off and it rather creates another issue as intellectual imbalance will not be a benefit when you go out in the job market, that demands talent but even that has now shifted to the diversity than talent.
Coming back to the point, with the social and market pressure, some negotiations (admissions) become fairly easy, as there is a job demand for a special set of pool, along with the general pool that is also available to the special pool but not the other way around.
This case increases the later objective of the University to attract a large portion of endowment (Allegedly) to the schools and therefore the benefit from the special pool outweighs the benefit of the general pool. So, the negotiation goes seamlessly as a term called "BATNA" (Look it up) increases. And this case leads to a win-win situation for the parties and leads eventually a success.
Now, what to do when you are in a general pool?
The negotiations are harder in that direction, right?
Well, yes.
Obviously you looked Up BATNA and you have an idea on what it is.
So, let's talk in short about the negotiation on the general pool.
The things that you can actually do to increase your BATNA are-
1. Show the value you bring to the table (GMAT scores, Rankings, Background aka nepotism)
2. Show the value you will add in the future (Endowment, placements)
3. Show the value that only you can bring (industry that is about to see boom)
The increase in value will determine the negotiation for you. The higher the value the greater the chances of successful negotiation.
So you can see, the entire process is dramatically a negotiation and if you call essay a pitch for the negotiation, you have it right there- the negotiation of a master's degree.
Obviously, there are other aspects, as, knowing the other side, competing against the large pool of other sides etc. But I will let you draw analogies there.
If any of you has ever been in a negotiation situation, Business school process is just another negotiation process.
One way of looking at it-
You put up a bid by displaying the capabilities you will bring to the table and how those capabilities can enhance the school's money generation and endowment (Allegedly).
So, basically, the Business school yield to the demand of the market. The increase in diversity was (allegedly) pushed not by the research but the growing riots of inequality. Take HBS for example, it took them 200 years to admit the first man of color. Truly after so many revolutions and riots. I must say that the current ways of bringing equity are not perfect but barely functional because in an attempt to answer the demand of the market (the riots and fight for equality in this case), they end up yielding to a low intellect cut off and it rather creates another issue as intellectual imbalance will not be a benefit when you go out in the job market, that demands talent but even that has now shifted to the diversity than talent.
Coming back to the point, with the social and market pressure, some negotiations (admissions) become fairly easy, as there is a job demand for a special set of pool, along with the general pool that is also available to the special pool but not the other way around.
This case increases the later objective of the University to attract a large portion of endowment (Allegedly) to the schools and therefore the benefit from the special pool outweighs the benefit of the general pool. So, the negotiation goes seamlessly as a term called "BATNA" (Look it up) increases. And this case leads to a win-win situation for the parties and leads eventually a success.
Now, what to do when you are in a general pool?
The negotiations are harder in that direction, right?
Well, yes.
Obviously you looked Up BATNA and you have an idea on what it is.
So, let's talk in short about the negotiation on the general pool.
The things that you can actually do to increase your BATNA are-
1. Show the value you bring to the table (GMAT scores, Rankings, Background aka nepotism)
2. Show the value you will add in the future (Endowment, placements)
3. Show the value that only you can bring (industry that is about to see boom)
The increase in value will determine the negotiation for you. The higher the value the greater the chances of successful negotiation.
So you can see, the entire process is dramatically a negotiation and if you call essay a pitch for the negotiation, you have it right there- the negotiation of a master's degree.
Obviously, there are other aspects, as, knowing the other side, competing against the large pool of other sides etc. But I will let you draw analogies there.
27 Dec 2020, 09:14
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Nikhil What do you think?
