Today, let’s explore how to effectively prepare for a business major, focusing on key strategies and the value of extracurricular (EC) activities.

The History of Business Education

Business education traces its roots to the rapid industrial development of the 19th and 20th centuries, exemplified by the emergence of large corporations in Pittsburgh, Pennsylvania. During this time, managing businesses effectively required skills in finance, organizational management, and leadership.

In the early 20th century, business knowledge was primarily passed down through apprenticeships and practical experience. Joseph Wharton, a pioneer in industrial metallurgy and a successful entrepreneur, recognized the need for standardized business education. This led to the founding of the Wharton School of Finance and Economy, now known as the University of Pennsylvania's Wharton School.

Following Wharton’s example, other prestigious business schools emerged, creating a pathway for students to gain the skills necessary for managing companies efficiently.

Key Preparation for Business Majors

To enter top business schools, a strong GPA and competitive test scores are essential. Beyond academics, aligning your interests with the common curriculum of business schools and demonstrating relevant abilities through EC activities will significantly enhance your university applications.

Core Business Curriculum:

1. Principles of Management – Leadership, organizational structure, and management.
2. Marketing – Understanding consumer needs, market strategies, and problem-solving techniques.
3. Finance – Corporate financial management, investment analysis, and asset allocation.
4. Accounting – Analyzing and recording financial data.
5. Operations Management – Maximizing production efficiency, quality control, and supply chain management.
6. Business Ethics – Corporate social responsibility and ethical decision-making.
7. International Business – Strategic planning based on cultural differences.

Acquiring these skills makes you a competitive candidate for business programs.

Introduction to Business-Related EC Activities

Leadership Training Programs:
Programs like the Bank of America Student Leaders Program, MIT Leadership Training Institute, and Rotary Youth Leadership Awards (RYLA) provide invaluable leadership training. Although some programs have associated costs, they are worthwhile investments in your development.

Summer and Pre-College Programs:
Explore summer programs such as:

• Babson Summer Study for High School Students
• NYU Summer at Stern
• Wharton Leadership in the Business World Program
  These programs allow students to gain hands-on experience and explore entrepreneurship, finance, and business management.

FBLA (Future Business Leaders of America)

As the world’s largest business career organization, FBLA develops leadership and organizational skills through national competitions and its prestigious National Leadership Conference (NLC).

DECA

With activities like role-play, case studies, and written challenges, DECA is a simulation-based program that teaches problem-solving and strategic thinking.

Wharton Global High School Investment Competition

This competition challenges students to solve real-world problems from an investor’s perspective. It’s ideal for those with strong theoretical knowledge and an understanding of economic and social trends.

National Economics Challenge and National Personal Finance Challenge (CEE)

Hosted by the Council for Economic Education, these challenges focus on corporate financial management, investment analysis, and record-keeping. Theoretical exams include fun, short-answer formats that test knowledge and critical thinking.

HIEEC (Harvard International Economics Essay Contest)

Participants demonstrate corporate financial management and investment analysis skills. The short submission period makes it especially advantageous for students with strong research and essay-writing abilities.

Berkeley Economic Review High School Essay Contest

This high-level competition focuses on research-based economic analysis, showcasing advanced skills in corporate finance and financial record-keeping.

High School FED Challenge

Conducted by regional Federal Reserve Banks, this competition emphasizes corporate financial management, investment analysis, and record-keeping. Although short in duration, it’s highly challenging and requires a strong theoretical background.

Northwestern Economics Tournament

This tournament features advanced questions in economics and finance, integrating both financial and accounting aspects. It’s well-suited for students with a solid foundation in these subjects.

Junior Achievement (JA)

Through real-life simulations, JA focuses on entrepreneurship, financial literacy, and social responsibility, promoting corporate ethics and strategic planning.

enactus

An international organization connecting students, academics, and business leaders, enactus solves societal challenges through business strategies, particularly in ethics and consumer needs.

Model UN (MUN)

Though not directly business-related, MUN fosters skills in global cultural understanding and corporate social responsibility, making it an enriching experience for aspiring business leaders.

National Business Honors Society (NBHS)

Business Professionals of America (BPA)

The National Business Honors Society can be joined through your school, so stay in close communication with school staff to confirm eligibility. While meeting the GPA criteria is usually straightforward, it’s helpful to demonstrate your passion by taking business-related courses at a community college. This additional effort can strengthen your application and showcase your commitment to studying business.

BPA is a prominent international organization with over 45,000 members, offering a range of business-focused activities. From competitions to networking opportunities, BPA is an excellent choice for students looking to deepen their understanding of business practices and leadership.

Structuring Strong EC for Business Majors

When planning EC activities over four years, the key is diversity. I recommend engaging in 5–6 activities across different categories to create a well-rounded profile. To help you align your ECs with a business major, let’s revisit how to structure them effectively.

It’s most impactful to participate in activities centered around a specific purpose or group. For instance, you could address the issue of families affected by natural disasters in the U.S. from a business perspective.

Here are examples of effective EC structures:

Science, Technology, and Engineering

Activities:

• Research the causes and impacts of natural disasters and propose solutions to reduce regional damage.
• Create an online platform to support affected families, such as a donation-matching network.
• Design affordable, disaster-resistant housing (e.g., earthquake-proof or flood-prevention structures).

Results:

• Write a report and present it at Regional Science Fairs.

Language and Expository Writing

Activities:

• Collect stories from disaster survivors and write essays, articles, or blog posts to raise awareness.

Deliverables:

• Submit to competitions like HIEEC (Harvard International Economics Essay Contest) or the John Locke Essay Competition.
• Contribute to the Berkeley Economic Review.
• Publish work in school papers, local newspapers, or online platforms.

Humanities and Social Sciences

Activities:

• Research the social and economic challenges faced by disaster-affected families and draft policy proposals.

Results:

• Intern with a U.S. Congressman’s office.
• Collaborate with local governments to aid disaster recovery.
• Present findings at Model UN conferences.

Arts and Athletics

Activities:

• Host charity performances or exhibitions to support disaster-affected families.

Results:

• Donate proceeds and convey impactful messages through creative expression.

Communication and Leadership

Activities:

• Organize disaster relief campaigns in partnership with local organizations.

Results:

• Participate in FBLA or DECA.
• Join NBHS.
• Lead fundraising initiatives while collaborating with community leaders.

Cultural Awareness

Activities:

• Design cultural healing programs for displaced families.

Results:

• Engage with Junior Achievement (JA).
• Collaborate with enactus.
• Plan art therapy sessions or local cultural events.

Quantitative Reasoning and Data Analysis

Activities:

• Collect and analyze disaster impact data to propose priority areas for support.

Results:

• Develop data visualization projects.
• Create data-driven initiatives tied to STE activities.

Volunteer Work

Activities:

• Join local recovery efforts and interact directly with affected families.

Results:

• Maintain records of your volunteer activities.
• Document changes before and after recovery efforts to highlight impact.

You don’t need to engage in all these categories. Structuring 4–5 solid, meaningful activities is both efficient and effective. Today, I shared insights into how to align EC activities with a business major to make a strong impression.

Thank you, and good luck!