Supported by: Ex-BC Examiner, 24/05/2022
Question: To succeed in business, one needs to know math. To what extent do you agree or disagree?
(IELTS Academic – 24/05/2022)
ANSWER (8.0+):
Many people regard math skills as a key factor to achieve success in business. I somewhat agree with this notion because it enhances the decision-making process; however, personal traits are more important factors that contribute to a business’s success.
On the one hand, math is essential to the growth of the business since it enables people to make better decisions. To be more specific, one application of business mathematics is to provide statistics that can predict future scenarios. These predictions might lay a firm foundation for more informed and evidence-based decisions, replacing those based on managers’ personal instincts. For example, Unilever has utilized a statistical model that can forecast the supply and demand of fast-moving consumer goods, allowing the company leaders to plan production and sales of each product category promptly.
On the other hand, individual characteristics make a greater contribution to a businessman’s success. More specifically, many entrepreneurs have built billion-dollar enterprises due to their ability to inspire and willingness to take risks. A good example in this case is Nguyen Thanh Duc, the chairman of NTD Group. He was known to be a disruptive student that failed almost all school subjects including math, yet he rose to become an inspirational leader who could motivate his employees to strive to gain collective success for the corporation. In addition, his success is attributed to the courage to take the risks that rational calculations, such as those that guide Unilever, would rule out. As these leadership qualities concurred with making a fortune, his startup has evolved into a multinational business empire, becoming a market leader in many industries including real estate, fishery and forestry.
In conclusion, although statistical math could help business leaders make better decisions, I am of the opinion that risk-taking and inspirational personality traits are more crucial to driving an enterprise to success. That is why business schools should focus more on enhancing interpersonal skills including leadership and communication.
(Word count: 321)
WORD LIST:
| ENGLISH | TIẾNG VIỆT |
| Enhance the decision-making process | Nâng cao quá trình ra quyết định |
| Predict future scenarios | Dự đoán các kịch bản trong tương lai |
| Lay a firm foundation | Đặt nền móng vững chắc |
| Informed and evidence-based decisions | Các quyết định dựa trên thông tin và bằng chứng xác thực |
| A statistical model | Một mô hình thống kê |
| Fast-moving consumer goods | Nhóm hàng tiêu dùng nhanh |
| Willingness to take risks | Sẵn sàng chấp nhận rủi ro |
| Disruptive student | Học sinh quậy phá |
| Rational calculations | Tính toán hợp lý |
| Multinational business empire | Đế chế kinh doanh đa quốc gia |
