global management personal statement

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Guide to Quality Global Management Personal Statement

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Are you applying for a global management program and want to stand out from the crowd? A well-written personal statement can be the difference between being accepted or rejected.

In this blog, we’ll provide tips on writing an effective global management personal statement that will make your application stand out. Read on to learn more!

What Is a Global Management Personal Statement?

A global management personal statement is a document that outlines your professional and educational background . It also shows your motivation for wanting to pursue a global management degree.

Your personal statement should explain why you believe you are the best candidate for the program. And also, how your skills and interests make you the perfect choice.

What to Include in Your Personal Statement

A global management personal statement should include a picture showing you in action, captions of your extracurricular and employment experience. You can add some highlights from your academic coursework, and of course a list of your achievements.

In order to write a personal statement that actually gets you into your desired MBA program, you’ll need to invest your time and energy. Put it into understanding what your program is looking for in terms of their applicant pool and your specific background.

Tips for Writing a Compelling Management Personal Statement

1. Begin With a Strong Introduction

Grab the reader’s attention by excitingly introducing yourself. Explain what experiences have led you to apply for this program and why it is essential to you.

2. Make It About You

While talking about others’ accomplishments can be inspiring, focus on your achievements when writing your statement. Highlight your successes and explain why they make you a strong candidate for the program.

3. Focus on Relevant Experience

Make sure to include information appropriate to global management. Explain how previous jobs or classes have prepared you to excel in this field.

4. Showcase Your Skills and Interests

Talk about any unique talents or hobbies relevant to global management, such as foreign language proficiency, international travel, or an interest in world cultures.

5. Proofread Carefully

A well-crafted personal statement can be undone by careless typos or grammatical errors. Read through your statement multiple times, and have a friend or family member read it for you as well.

Examples of a Global Management Personal Statement

“Growing up in an immigrant family, I have always been interested in different cultures and the global business environment. My studies in international business have only further developed this interest. I have spent two years working in a professional environment. I am excited to apply my experience and knowledge to pursue a degree in global management.

My skills and interests make me the perfect candidate for this program. I bring prior experience working with multicultural teams and speak three languages – Spanish, Portuguese, and English – which will be invaluable when understanding worldwide markets.

My enthusiasm for global management and knowledge of foreign cultures makes me uniquely qualified to excel in this field. With this degree, I am confident that I will gain the skills and experience necessary to pursue a successful career in international business.”

“From a younger age, I have been about finding ways to expand my knowledge of the world. This has led me to study global management and develop my skills in international business. After working with a range of multicultural teams, I am now sure that I possess the experience necessary to apply for this program.

I bring numerous skills to the table that apply to global management. I speak two languages – Spanish and English – and I have extensive experience planning projects and organizing events in different countries around the globe. My studies in international relations have also helped me gain a better understanding of how different markets work.

My enthusiasm for global management is unmatched by any other candidate, and I am excited to have the opportunity to pursue this degree. With it, I will gain invaluable knowledge and experience to help me thrive in my chosen field.”

Writing a solid global management statement is key to making your application stand out. Following these tips, you can write a compelling statement demonstrating your qualifications and enthusiasm for the course. Good luck!

Abir Ghenaiet

Abir is a data analyst and researcher. Among her interests are artificial intelligence, machine learning, and natural language processing. As a humanitarian and educator, she actively supports women in tech and promotes diversity.

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How to Write a Strong Personal Statement

• Ruth Gotian
• Ushma S. Neill

A few adjustments can get your application noticed.

Whether applying for a summer internship, a professional development opportunity, such as a Fulbright, an executive MBA program, or a senior leadership development course, a personal statement threads the ideas of your CV, and is longer and has a different tone and purpose than a traditional cover letter. A few adjustments to your personal statement can get your application noticed by the reviewer.

• Make sure you’re writing what they want to hear. Most organizations that offer a fellowship or internship are using the experience as a pipeline: It’s smart to spend 10 weeks and $15,000 on someone before committing five years and $300,000. Rarely are the organizations being charitable or altruistic, so align your stated goals with theirs
• Know when to bury the lead, and when to get to the point. It’s hard to paint a picture and explain your motivations in 200 words, but if you have two pages, give the reader a story arc or ease into your point by setting the scene.
• Recognize that the reviewer will be reading your statement subjectively, meaning you’re being assessed on unknowable criteria. Most people on evaluation committees are reading for whether or not you’re interesting. Stated differently, do they want to go out to dinner with you to hear more? Write it so that the person reading it wants to hear more.
• Address the elephant in the room (if there is one). Maybe your grades weren’t great in core courses, or perhaps you’ve never worked in the field you’re applying to. Make sure to address the deficiency rather than hoping the reader ignores it because they won’t. A few sentences suffice. Deficiencies do not need to be the cornerstone of the application.

At multiple points in your life, you will need to take action to transition from where you are to where you want to be. This process is layered and time-consuming, and getting yourself to stand out among the masses is an arduous but not impossible task. Having a polished resume that explains what you’ve done is the common first step. But, when an application asks for it, a personal statement can add color and depth to your list of accomplishments. It moves you from a one-dimensional indistinguishable candidate to someone with drive, interest, and nuance.

• Ruth Gotian , EdD, MS, is the chief learning officer and associate professor of education in anesthesiology at Weill Cornell Medicine in New York City. She is the author of  The Financial Times Guide to Mentoring  with Andy Lopata and  The Success Factor . Discover your potential for high achievement by taking her exclusive High Achiever Optimization Assessment  here . RuthGotian
• Ushma S. Neill is the Vice President, Scientific Education & Training at Memorial Sloan Kettering Cancer Center in New York City. She runs several summer internships and is involved with the NYC Marshall Scholar Selection Committee. ushmaneill

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• The University of Warwick

A guide to writing a Master's personal statement

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If you are considering postgraduate study, you will need to think about writing an application that demonstrates why you are the right candidate for the course and their university. This is where your personal statement comes in. 

You’ll already have written a personal statement for your undergraduate application, so the concept should be familiar. However, there are some things you should be aware of when it comes to writing specifically for postgraduate study. 

In this guide, we’ll explain how to write a stand-out Masters personal statement and provide you with some valuable insights from our Master's Recruitment Manager Danielle, here at Warwick Business School (WBS).

What is a Masters personal statement?

An MSc personal statement, also known as a ‘statement of purpose’, supports your application to study a postgraduate course at university. It should highlight your key skills and experience whilst demonstrating your understanding of the course and conveying your academic skills and interests.

From her experience in the Recruitment and Business Development team at WBS, Danielle gives her take on a personal statement: 

Your personal statement is your opportunity to sell yourself and differentiate yourself from any other applicant, share your passion for joining WBS and link your life experiences and skills to how you could contribute to a cohort.

How long should a Masters personal statement be?

A personal statement for postgraduate study should fit within two pages of A4. Whilst you won’t be penalised if it is slightly longer, you should always make sure the content is relevant and doesn’t repeat information elsewhere in your application. 

What do you need to prepare before writing a Masters personal statement? 

Before writing your personal statement for postgraduate study, there are a few things you should consider.

Research your options

Take the time to read through course pages and brochures. You’ll find in-depth information on what the course involves and how it might align with your career goals. Danielle explains how understanding what the course involves is key in demonstrating your suitability and passion for a course: 

All of our course webpages feature extensive information on the course modules, so take the time to show you’ve done your research in your personal statement. Your personal statement is your chance to relate yourself to our core values and demonstrate what a strong candidate you will be for one of our programmes. Ensure you also use this as an opportunity to link our programme to your future career.

Course titles should not be taken at face value. Whilst some universities will have courses with the same titles, the content will differ. You need to demonstrate you understand what the course entails and why you want to apply for a particular course as. Danielle adds:

Take time to look at the content of the course you are applying for; although course titles may be the same at different universities the course content can be different. Do your research and demonstrate this in your personal statement, showing how invested you are in studying at WBS.

Consider what you want from your studies

The range of choice when it comes to postgraduate study is vast, and it can feel overwhelming when deciding which course is right for you. 

Whilst opinions from your friends and family are important, they shouldn’t be the ultimate deciding factor when choosing a course. Ultimately you need to consider what you really want and whether it aligns with your career goals. 

Begin to prepare your application

Once you have decided which course you would like to apply for and you’ve ensured you meet the entry requirements, you will need to begin preparing your application. This includes collecting the correct documentation such as a CV, transcript, personal statement, and reference.

What should you include in a Master's personal statement?

Recruitment and admissions teams receive thousands of applications each year so it is important that your personal statement is to the point and demonstrates what they are looking for in their students. 

Danielle gives some insight into what our recruitment team looks for in a personal statement for a Master's degree:

Aim to keep your personal statement to the point by making sure you answer the following questions, addressing the key points our Selection Committee will be looking for:

• Why have you selected this course? What are your motivating factors?
• How do you see this course benefitting your career plans?
• What will you contribute to your cohort?

As well as addressing these key questions, you should also include the following:

Academic achievements 

You need to demonstrate how your undergraduate study has prepared you for a postgraduate course. You can do this by highlighting specific achievements, projects and pieces of work as well as mentioning any particular topics that interest you. 

Professional achievements

If you completed any professional work experience alongside your studies, it is a good idea to mention them here. Highlight any duties, tasks and responsibilities you had to demonstrate what you gained from this work experience. 

Relevant extracurricular activities

Including information about relevant extracurricular activities you are involved in can help to give a more rounded view of you as a person. This could include volunteering opportunities and any meaningful hobbies you have. 

Transferable skills

Your transferable skills should be highlighted throughout your personal statement. The types of things you could include are presentation skills, communication skills, analytical thinking and time management. Consider what you can bring to lectures and workshops. For example, if your course involves a lot of group work, use an example where you demonstrate your experience with this.

What should you avoid when writing a Masters personal statement?

Repetition of information.

When submitting both a CV and personal statement it can be easy to fall into the trap of just repeating the same information across both documents. Your personal statement is an opportunity for you to reflect and expand on what you have stated on your CV, rather than repeating the same information.

Not providing enough context

Simply listing your achievements without providing context will not prove to the recruitment teams that you are the right candidate for the course. Provide hard evidence to back up the statements you make and try to give two or three in-depth examples, rather than several weak answers. 

Not tailoring your application to the specific university or course

Recruitment and admissions teams are keen to hear why you have chosen a specific course and why you want to attend their university. You need to provide clear examples of what excites you about their institution and how you can align with their particular values.  

What do recruitment teams look for in a Master's personal statement?

University recruitment teams and selection committees review thousands of applications each year. To ensure your application stands out, you must show that you have taken the time to prepare and research your chosen university.

Recruitment teams want to see your passion for the subject and motivations for joining their institution. Detailing your experience and the skills you can bring will help to emphasise this. Danielle also suggests not overlooking the obvious when it comes to writing a personal statement:

It may sound simple but the first answer to this question is that the Selection Committee wants to see a well written, clearly structured personal statement which demonstrates good preparation and research.

What else do I need to include with my Master's application?

The documents you need to include in your application may vary by institution and course. But generally, as well as your personal statement, you will also need to include: 

• Academic and professional references
• Copies of your undergraduate degree certificate and academic transcripts
• A list of final year modules if you're still studying for an undergraduate degree
• A research proposal (not all courses will require this)

If you are an international student, there are some additional things you will need to provide including: 

• A copy of your passport
• Proof of your language proficiency through either a Test of English as a Foreign Language (TOEFL) certificate, or any others that meet requirements outlined on our course pages.

When are the deadlines for Master's applications?

Deadlines for Master's programmes vary quite widely between courses and universities. Information on specific deadlines can be found on their respective course pages and postgraduate brochures . You should aim to make an application early in the cycle to ensure there are still places available on the course.

Deadlines for scholarships and external scholarships can also vary, so if you wish to apply for these, you will also have to factor in these deadlines.

Frequently asked questions

Is there an interview for master's programmes.

At WBS, there are no interviews for MSc courses. Instead, all decisions are made based on the application you submit. Your undergraduate transcript will be reviewed in depth along with your CV and personal statement.

How many Master's can you apply for?

If you are applying to a UK university, you can apply for as many courses and universities as you like. However, you should not over-stretch yourself and you should only apply for courses that you are really passionate about.

Writing an appropriately tailored application can be time-consuming and attempting to write too many could jeopardise your chances of being successful. 

Do you have to pay for your Master's application?

We require an application fee of £75 to cover administrative costs. If you're applying to multiple Warwick courses, remember each course will warrant its own application fee. 

How do I apply for a Master's degree?

We have our own application system, and you can find linked 'how to apply' sections on all of our course pages. 

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Our challenging and rewarding courses will provide you with everything you need to take your personal and professional skills to the next level. 

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Personal statement - MSc International Management

• Sample personal statement

07 July, 2022

Personal statement - msc international management share.

• 12 May, 2013

I am keen to pursue MSc International Management at University of Brighton. By researching the course curriculum available at university website, I become to know that this course helps students to develop the global business knowledge which will help me to achieve my future career goal. Moreover, I believe getting a chance to pursue my study career in thisUniversity will progress me both professionally and intellectually. Besides the opportunity to apply my theories and ideas in practice will benefit me to enhance my skills and to achieve a deeper understanding of the field of InternationalManagement.

According to my research I have found that this course will be the perfect opportunity for me to continue to hone my communication and management skills, empowering me to be a more powerful and confident leader. Through hands-on exercises and projects designed to closely mimic those that I will encounter in my future career, this program will provide me with the accurate training and preparations I need to handle such tough challenges in the future. I believe this MSc will provide me with the knowledge of business concepts as well as the understanding of the matters that I will need to become a successful business professional. Intuition alone is not good enough to run a business. I believe that a strong business education is very crucial to successful business management in this Modern age, for this reason I hope to be able to acquire an MSc International Management. Moreover, my previous academic qualifications will give me an upper hand to obtain better score in this course. If I can successfully complete the course, it will create a platform for me to explore different career opportunities such as Policy advisor or analyst, Management analyst, public relations (PR) account executive and Compliance officer. For this reason, this MSc International Management will be the right choice for my future career progression.

Following my SSC and HSC I studied Bachelor of Business Studies from National University, Gazipur, Bangladesh in May 2012. Then I studied Master of Business Administration in HRM from Southeast University, Dhaka, Bangladesh in September 2014. Later on, I started my working career as a HR officer at Nassa Group in December 2014. I am still working with this company, and it was really a fascinating experience for me to work with them. My work experiences have led me to identify all my potentials including my strengths and weaknesses. I have also come to understand the need to be well equipped with the knowledge in the field of business. For this reason, I have decided to continue my further study with this course at University of Brighton.As I have gained a lot of experiences it will be easier for me secure a suitable position in if I have this degree.

University of Brighton offers International Leadership and Management, International Logistics and Finance, Sustainable Strategic Management, Managing Organisational Behaviour, Marketing in an International Context, Research Methods for master’s degrees and Management Integration OR Work Experience. Moreover, I will also have an opportunity to study some of the optional modules which include Entrepreneurship and New Venture Planning, Consultancy or Business Solutions in Action. All the modules are highly demanding and suitable in today’s business world.

I am determined to continue my study in this course in the UK as the study environment in my country is quite different and we get to study with only the national students. Furthermore, the political chaos makes it harder for students to get the degree without any delay. On the other hand, the UK has a great multicultural and diversified student community which is an opportunity for me to learn with lot of students from different nationalities. UK education brand is highly respected by employers in our country as UK degree prepare graduates with academic competencies, developed personal and professional skills that are imperative for organizational success. The transferrable skills graduates carry forward from UK are pivotal for transforming organisational growth and gain competitive advantages. This is also a reason to study again in UK. In a recent Survey of International Graduate Outcomes 2019 by Universities UK International produced by iGraduate shows that 82% international graduates say that their UK degree are worth the financial investment and similar number of graduates say they are satisfied or very satisfied with their careers. Nearly 83% feel that UK degree has helped them to get jobs. These aspects have driven my ambition to gain the degree from a UK institution.

The University of Brighton is a public university dependent on four campuses in Brighton and Eastbourne on the south shoreline of England. Brighton University is known all through the world as a result of its great courses and dedication to instruction quality and execution. It has a boundless number of excellent mentors where I can arrive at the equivalent precise top-quality training. Moreover, The University of Brighton is ranked as a top 5 university for world-leading research impact in business and management studies (REF 2014). I can discover my desired course I need in this University. University of Brighton is one of the first UK universities which use Job Teaser, a new online placements system presenting placement options in the UK and Europe, which gathers together all the job opportunities, events and resources I will need to help me with my professional development. Also, I found one more unique feature which is Bee purple event that run throughout the academic year which that will improve my employability and help me grow a successful business. I will look no further if I get this opportunity to study at University of Brighton.

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• Business Management Personal Statement Examples

Applying to business management school? You will need a strong personal statement to support your university application. Use our business management personal statement examples as a guidance to write your own. Also, make sure to check other personal statement examples for more inspiration.

Business Management Personal Statement Example

The key to any successful business is good management. In order to adapt to the constant shifts of the global economy, businesses must apply methodical reasoning to people, processes, and technology. I have demonstrated a similarly flexible, adaptable approach to achieving my goals as a mature student with strong academic achievement in Administration and IT and extensive employment experience.

As soon as I graduated from school, I began working. However, as my desire to return to study grew, I combined my work experience with study to earn HNC and HND qualifications in Administration and IT. The IT component of this course has particularly intrigued me because of my interest in how technological processes impact business. It has also been fascinating to learn the theory behind the administrative and organizational practices I have implemented and observed throughout the years.

My experience as a news agent’s kid has given me hands-on experience in both financial and personnel management, including customer service, stock management, and liaising with suppliers. Having always been involved with business and management within the industry, it was perhaps not surprising when I decided to gain more experience in retail. In order to allow my passions for both the technological and financial aspects of these roles to flourish, I sought out experiences that allowed these passions to flourish. I used my expertise in providing excellent customer service while working as a Telephone Banking Advisor for Porta Wealth Management to counsel clients on the best services, weighing the benefits and drawbacks of various products in relation to their needs. Additionally, I was in charge of looking after databases, working on banking policies, and implementing rules set forth by the FSA. Moving between small, local firms and multinationals has allowed me to study the differences in administration and management, as well as how technology affects these.

As an ambitious student with a keen interest in business and management, I am constantly seeking out new ways to further my understanding and skill set. In my spare time, I delve into a diverse array of management techniques and put them into practice in both my personal and professional life, allowing me to achieve my goals and aspirations. One of the most prominent examples of this is my leadership experience as the Treasurer, and later the Chairperson, of my local Women’s Power Business Group. In this role, I have been actively involved in a variety of volunteer and fundraising initiatives, as well as organizing workshops to support isolated or vulnerable women and their children in my community. Not only has this role given me the fulfilment of making a difference, but it has also provided me with invaluable experience in implementing leadership, teamwork and administration skills in a real-world setting. I have also been able to infuse my other passions, such as my love for walking, by initiating annual sponsored events like a 5K walk for Breast Cancer Research. This unique blend of my interests and skills has allowed me to develop a well-rounded perspective and provided me with a valuable learning experience.

Having a natural inclination toward the management of people and processes as a persistent self-starter with a drive for improvement. As a result of consistently reflecting on myself in my studies and work, I have been able to identify areas for improvement and think critically about my own performance. In my undergraduate studies, I have not only honed this natural tendency but also gained knowledge on technology integration, which I believe will be crucial in the business world of the future. After graduation, I hope to utilize this knowledge and ability to make a significant impact. I’m determined to make a real impact in the business world, whether I start my own company or take on a key role within a larger organization.

Management Personal Statement Example

Being a very determined and studious individual academically, I knew a university degree was an obvious next step. In spite of my broad interests, I am drawn toward a law or business management degree. As far as Business is concerned, I chose it because of its complexity and intrigue. Management blends so seamlessly with everyday issues that I particularly enjoy. In taking the subject at A-Level, my interest has grown and matured, and I can view many businesses analytically and make suggestions regarding improvements. Law is an area which has interested me from an early age. I am an avid reader and believe that this habit is crucial when it comes to pursuing a career in law. I feel that my attributes make me an ideal candidate for the field as I possess a keen attention to detail and am intrigued by work that deals with contemporary social issues and the need to analyze and present evidence effectively. Additionally, I believe that the psychology coursework I have completed has helped me understand how people’s perspectives and recollections can be influenced by various factors. This type of work demands a certain level of self-assurance, which I am confident that I possess and can leverage to excel in the competitive sphere of law.

Throughout my career, I’ve had the opportunity to work in a diverse range of roles and environments, and this has helped me develop a broad range of skills. However, among all the experiences, I’ve had the privilege to work for Royal Worcester in the Debenhams store which I believe has been the most formative of all. Being a sales advisor in such a high-end company has taught me to have a self-assured demeanour, and I have also had to cultivate a good memory to be able to provide customers with accurate product knowledge.

Additionally, I was assigned the duty of training a new employee, demonstrating the great level of confidence my employers have in me.

From holding the role of form captain in secondary school to helping with the planning of large-scale festivities in college, my educational experiences have been quite useful to me. These kinds of responsibilities have enabled me to grow up and take my roles seriously, earning the respect of my coworkers. As English Prefect in Year 11, I was responsible for supporting the entire English department, which took up a significant amount of my time. I also had a piece I wrote against the mistreatment of women on French television published in the daily “Paris Local News” as a result of my interest in the French language. I was pleased to have my opinions represented.

I have always been passionate about languages and during secondary school, I took evening French classes. My dedication and hard work were recognized when I received the ‘The Best Student of the Year’ award for my outstanding performance. These classes required me to manage my time effectively, so my schoolwork did not suffer. Furthermore, being raised by German and French parents has helped me to achieve fluency in the language.

Aside from languages, sports and leisure activities have always been an interest of mine. In college, I used this passion to do charity work and raise money for ZBIN. One of my accomplishments includes raising £1050 and abseiling 120ft down London University. 

Additionally, I played netball for the local Netball Team and competed in the OGI UK Games for the Wembley Stallions AFC team. My performance was recognized with several trophies, as well as a gold and bronze medal in the long jump and javelin respectively.

How to write specific paragraphs of your statement:

I have always been fascinated by business and the way that companies and large organisations work. From my first steps, I have been an entrepreneur at heart, always finding ways to make a little extra money selling lemonade at the promenade or starting school projects. With my personal development, my interest in business has only intensified, and I have come to realise that business management is something I want to study at school. Read more in management personal statement examples .

I believe that a business management degree will open many doors for me and provide me with the flexibility to pursue a wide range of career paths. Whether I decide to start my own business or join an established company, I know that the skills and knowledge I gain will be invaluable. 

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PERSONAL STATEMENT EXAMPLE International Business Personal Statement

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International Business Personal Statement

Interaction with business professionals has led me to believe that today we require more, and better skilled, management and organisational personnel if we are to continue to compete effectively in global markets. Human resources, in particular, is an area I am incredibly interested in and hope to study at university.

Studying Graphics, I became interested in businesses because as well as working with them, I have to research and understand them in order to create effective designs. I focus on ethics and different cultures to make sure that my designs are suitable for their target audience. I also have experience in analysing and evaluating different personalities, needs and aims so that my designs and research are as high quality as possible. Furthermore, my study of two languages has allowed me to enhance my knowledge of communication. I feel that this is important for a career in Human Resources as working and communicating with different people is a key part of the role. These subjects have allowed me to develop my independent study skills and have given me the opportunity to learn how to solve problems within my work.

Throughout my education, I have taken part in many different activities. Including helping with sports days, school shows and mentoring GCSE students. In February 2014, I took part in the National Citizen Service; this enabled me to develop leadership skills. Firstly, I went on a three day adventure where I learnt many different team-building skills. Included was a business challenge ran by ‘Coca Cola’ where we had to work within our teams to create a new soft drink, this included the design, advertisements, ingredients and the profit we would make. Here, I had a management role and had to lead and make sure the team worked together effectively. My team won the challenge. We were also asked to raise awareness for a local charity. Consequently, we planned a range of fundraisers. In order for them to be effective it was important for us to work together, organise and structure our ideas. Altogether, we made over 600 pounds for the Sarcoma UK cancer charity. I feel that my NCS experience not only provided me with lots of skills that are key to success at university but also gave me the confidence to go and take part in other opportunities, for example, I spoke about my NCS experience in front the year 11 students at my school. I think that this really shows my commitment to something I love and I feel these are factors I would use in university life and my chosen course.

After this, I was presented with another opportunity: Project Aspire, run by Ashfield In2Focus. For this, I had to submit an application and have an interview and was successful in gaining a place. I have already been through a number of processes in order to develop my skills including an MBTI test, brain teasers, I also had to provide a professional presentation about an interest or hobby. On top of this I worked in a group to provide a presentation on ‘My Community’ and have just completed a Charity Fundraiser with my team. The goal is to develop as a person and provide me with the personality and skills needed in a working environment.

I have also gained as much work experience as I can. I have used my summer holidays to work in offices and gain knowledge on basic and more advanced office routines and policies. I have attended meetings, including one with a local MP and another with the Chamber of Commerce. As well as this, I am also an Avon Representative, whereby it is my job to sell Avon products to various different people. I feel that this has provided me with more communication skills and has allowed me to deal with different situations that would come up in the working world. I am really looking forward to beginning my studies at university as I know gaining a degree will help me to develop my skills for the future and truly engage me in the world of Human Resources.

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Talent Management in Emerging Market Firms

Global Strategy and Local Challenges

• © 2016
• Marina Latukha 0

St Petersburg State University, St Petersburg, Russia

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About this book

Investigating talent management in firms from emerging economies, this book discusses strategies and practices of managing talented employees in the context of BRIC countries. Talent Management in Emerging Market Firms illustrates how emerging multinationals use their talent management to create and extend competitive advantage in global markets, and how they support their competition with talent as their main asset. Extending the talent management perspective, the book compares companies from Brazil, Russia, India and China to provide the link between talent management practices, a firm’s performance and organizational competitiveness within the context of emerging economies.

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• organizations
• human resource development
• business strategy
• human resource management
• human resources
• organization
• performance management
• talent management

Table of contents (10 chapters)

Front matter, introduction: the next wave of emerging talent.

Marina Latukha

Global Talent Management for Emerging Economies: New Challenges or Old Strategies?

The nature of talent management and its role in modern organizations, cross-country perspectives of management of talented employees in the emerging world, talent management in emerging market firms: strategies and practices, the competitive advantage of emerging market firms: is talent management involved, attracting the best and leaving the rest, the good, the excellent and the potential: talent performance management, creating talent organization via employees’ training and development, corporate universities as a tool for talent development, rewarding strategies of emerging market firms: creating and supporting talent motivation, conclusion: the lessons learned, back matter, authors and affiliations, about the author.

Marina Latukha is Professor of Organizational Behaviour and Human Resources Management at the Graduate School of Management, Saint Petersburg State University, Russia. She is also the lead researcher at the Centre for the Study of Emerging Market and Russian Multinational Enterprises. Marina is the author of a number of research articles and case studies on international and strategic human resource and talent management, and emerging market firms. 

Bibliographic Information

Book Title : Talent Management in Emerging Market Firms

Book Subtitle : Global Strategy and Local Challenges

Authors : Marina Latukha

DOI : https://doi.org/10.1057/978-1-137-50606-1

Publisher : Palgrave Macmillan London

eBook Packages : Business and Management , Business and Management (R0)

Copyright Information : The Editor(s) (if applicable) and The Author(s) 2016

Hardcover ISBN : 978-1-137-50604-7 Published: 11 July 2016

eBook ISBN : 978-1-137-50606-1 Published: 29 June 2016

Edition Number : 1

Number of Pages : XII, 270

Topics : Business Strategy/Leadership , Human Resource Management , Economics, general , Management

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U.S. Department of the Treasury

Targeting key sectors, evasion efforts, and military supplies, treasury expands and intensifies sanctions against russia.

Actions Taken in Coordination with G7

Metals and Mining Determination Enables Targeting of Putin Revenue Source

Wide Array of Evasion-Related Targets Exposed

WASHINGTON – Today, one year after the Russian Federation launched its unprovoked war against Ukraine, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) is taking significant action to diminish Russia’s ability to continue its brutal war and to procure the resources used to support it.

In one of its most significant sanctions actions to date, Treasury is announcing a new determination targeting the metals and mining sector of the Russian Federation economy under Executive Order 14024 and is also imposing sanctions on 22 individuals and 83 entities. Today’s action, together with additional measures taken by the Department of State, the Department of Commerce, and the Office of the U.S. Trade Representative, in coordination with allies and G7 partners, further isolates Russia from the international economy and hinders Russia’s ability to obtain the capital, materials, technology, and support that sustain its war against Ukraine, which has killed thousands and displaced millions of people.

Additionally, as Russia searches for ways to evade sanctions and export controls, the U.S. government is ramping up efforts to counter such evasion around the world. Today’s action includes designations of over 30 third-country individuals and companies connected to Russia’s sanctions evasion efforts, including those related to arms trafficking and illicit finance. While Russian banks representing over 80 percent of total Russian banking sector assets are already subject to U.S and international sanctions, OFAC today is designating over a dozen financial institutions in Russia, including one of the top-ten largest banks by asset value. Sanctioned actors have been known to turn to smaller banks as well as wealth-management firms in an attempt to evade sanctions as Russia seeks new ways to access the international financial system.

“As the Ukrainian people continue to valiantly defend their homeland and their freedom, the United States is proud to support Ukraine through economic, security, and humanitarian assistance,” said Secretary of the Treasury Janet L. Yellen. “Over the past year, we have taken actions with a historic coalition of international partners to degrade Russia’s military-industrial complex and reduce the revenues that it uses to fund its war. Our sanctions have had both short-term and long-term impact, seen acutely in Russia’s struggle to replenish its weapons and in its isolated economy. Our actions today with our G7 partners show that we will stand with Ukraine for as long as it takes.”

Dozens of entities and individuals being sanctioned today operate in industries that ultimately support Russia’s war against Ukraine. This includes firms that produce or import specialized, high-technology equipment used by Russian defense entities and companies that make advanced materials used in Russian weapons systems.

The United States and its allies have imposed sweeping sanctions, export controls, and other measures following the start of Russia’s war against Ukraine. Since February 2022, Treasury has implemented more than 2,500 sanctions in response to Russia’s war of choice. The unprecedented costs imposed on Russia have been closely coordinated with allies and partners, with more than 30 countries having imposed sanctions or similar measures against Russia following the launch of its war.

Russia’s aggressive and unprovoked war will have significant and long-lasting consequences for Russia’s economy and defense base. Sanctions and export controls have caused Russia’s financial sector losses of hundreds of billions of dollars and created major setbacks for Russia’s technological advancement. The United States will continue to impose costs on Russia for as long as this war continues.

FINANCIAL SERVICES SECTOR SANCTIONS

Imposing further sanctions against Russia’s financial services sector impedes the ability of President Vladimir Putin’s regime to raise capital in support of the war against Ukraine and further isolates Russia from the global financial system. Today, Treasury is imposing sanctions on numerous Russian banks and is also targeting wealth management-related entities and individuals that play key roles in Russia’s financial services sector.

Sanctions evasion and other illicit financial activity often involves support from accountants, investment advisors, wealth management and private equity firms, lawyers, and other financial services providers. According to an alert issued by the Financial Crimes Enforcement Network (FinCEN) in March 2022 , sanctioned actors may seek to evade sanctions by using corporate vehicles to obscure ownership or sources of funds, such as shell companies or third-party proxies. FinCEN issued another alert in March 2022 underscoring sanctioned persons’ use of real estate, luxury goods, and other high-value assets, such as precious metals, stones, and jewelry (PMSJ), to store value and evade economic restrictions. In June 2022, FinCEN and the U.S. Department of Commerce’s Bureau of Industry issued an alert urging increased vigilance for export control evasion attempts.

Designation of Multiple Russian Financial Institutions

OFAC today designated the following Russian banks pursuant to E.O. 14024 for operating or having operated in the financial services sector of the Russian Federation economy:

• Credit Bank of Moscow Public Joint Stock Company , one of Russia’s ten largest banks by asset value and located in Moscow, is Russia’s largest non-state public bank. The European Union removed Credit Bank of Moscow from the SWIFT international payment system in June 2022 and fully blocked the bank in December 2022. OFAC previously placed Credit Bank of Moscow on the Sectoral Sanctions Identifications List; it is now also subject to full-blocking sanctions.
• Joint Stock Company Commercial Bank Lanta Bank , a bank located in Moscow, Russia.
• Public Joint Stock Company Commercial Bank Metallurgical Investment Bank (Metallinvestbank), a bank located in Moscow, Russia. Metallinvestbank has used alternative payment routes to facilitate the receipt of payments for Russian exports.
• Public Joint Stock Company MTS Bank , a bank located in Moscow, Russia and Abu Dhabi, United Arab Emirates. The UK also designated this bank today.
• Novosibirsk Social Commercial Bank Levoberezhny Public Joint Company , a bank located in Novosibirsk, Russia.
• Bank Saint-Petersburg Public Joint Stock Company , a bank located in Saint Petersburg, Russia. The UK also designated this bank today.
• Joint Stock Commercial Bank Primorye , a bank located in Vladivostok, Russia.
• SDM-Bank Public Joint Stock Company , a bank located in Moscow, Russia.
• Public Joint Stock Company Ural Bank for Reconstruction and Development (UBRD), a bank located in Yekaterinburg, Russia. UBRD is also sanctioned by Canada and the UK.
• Public Joint Stock Company Bank Uralsib , a bank located in Moscow, Russia. The UK also designated this bank today.
• Bank Zenit Public Joint Stock Company , a bank located in Moscow, Russia. The UK also designated this bank today.

Additionally, Russia-based financial institutions OOO Zenit Finance , OOO Zenit Leasing , and OOO Zenit Factoring MSP were designated pursuant to E.O. 14024 for being owned or controlled by, or for having acted or purported to act for or on behalf of, directly or indirectly, Bank Zenit.

In conjunction with this action, OFAC has issued Russia-related General License (GL) 60 , authorizing the wind down and rejection of transactions involving certain financial institutions designated today through 12:01 a.m. eastern daylight time, May 25, 2023. In addition, OFAC has issued Russia-related GL 61 , authorizing the wind down of certain securities and derivatives transactions involving certain of these financial institutions through 12:01 a.m. eastern daylight time, May 25, 2023. OFAC also issued amended GL 8F , adding certain of these financial institutions to the authorization to process certain energy-related transactions.

Targeting Russian Wealth Management-Related Entities

CONFIDERI Pte Ltd (CONFIDERI) is a Russian multi-family office, a type of financial services firm specializing in high-net-worth individuals, with offices in Moscow and Singapore. Its specialties include asset structuring and wealth management, including on “international projects with Russian roots.” CONFIDERI offers, among other services, PMSJ investment opportunities and investment management through the Caribbean.

CONFIDERI’s founders, Russian Federation-Israel nationals Olga Borisovna Raykes (Raykes) and Marat Maratovich Savelov (Savelov), have also been recognized as private bankers, wealth managers, and investment advisers. Raykes and Savelov own the firm Vend Ore GmbH (Vend Ore), located in Vienna, Austria.

CONFIDERI, Raykes, and Savelov were designated pursuant to E.O. 14024 for operating or having operated in the financial services sector of the Russian Federation economy. Vend Ore was designated pursuant to E.O. 14024 for being owned or controlled by, or for having acted or purported to act for or on behalf of, directly or indirectly, Raykes and Savelov.

Moscow-based investment and wealth management firm IC Veles Capital LLC (IC Veles Capital) also caters to Russian high-net-worth individuals. Its leaders are Russian Federation-Cyprus nationals Dmitry Vitalyevich Bugayenko (Bugayenko) and Aleksei Dmitrievich Gnedovskii (Gnedovskii).

IC Veles Capital, Bugayenko, Gnedovskii, and related financial companies Veles Aktiv OOO , Veles Management Ltd , and Limited Liability Company Veles Trust were all designated pursuant to E.O. 14024 for operating or having operated in the financial services sector of the Russian Federation economy.

Additionally, Bugayenko’s Cyprus-based firms Veles International Limited and Hadlerco Limited , were designated pursuant to E.O. 14024 for being owned or controlled by, or for having acted or purported to act for or on behalf of, directly or indirectly, Bugayenko.

Russian Federation national Ulan Vladimirovich Ilishkin (Ilishkin) is Deputy Chairman of the Management Board of U.S.-sanctioned Public Joint Stock Company Rosbank (Rosbank), which was acquired in 2022 by one of Russia’s richest men, U.S.-sanctioned Vladimir Potanin . Ilishkin also leads Rosbank’s L’Hermitage Private Banking unit.

Russian Federation national Alina Olegovna Nazarova (Nazarova) is the head of A-Club, the private banking department of U.S.-sanctioned Joint Stock Company Alfa-Bank.

Russian Federation national Evgeniya Sergeyevna Tyurikova (Tyurikova) is a long-time finance professional who leads the private banking department of U.S.-sanctioned Public Joint Stock Company Sberbank of Russia (Sberbank).

Ilishkin, Nazarova, and Tyurikova were designated pursuant to E.O. 14024 for operating or having operated in the financial services sector of the Russian Federation economy.

TARGETING RUSSIAN SANCTIONS EVASION

Due to the impact of sanctions and export controls, Russian intelligence services have been directed to find channels for evasion and backfilling. Treasury will continue to impose sanctions on actors inside and outside of Russia that circumvent sanctions and enable Russia to procure resources critical to enabling Russia’s war of aggression against Ukraine. Treasury is imposing sanctions on the following entities and individuals for their roles in sanctions evasion efforts.

Swiss-Italian businessman Walter Moretti (Moretti) and his network of associates and companies have covertly procured sensitive Western technologies and equipment for Russian intelligence services and the Russian military, including hydraulic presses, armament packages, and armor plating. Moretti and his associates have also procured equipment for Russia’s nuclear weapons laboratories. 

Moretti was designated pursuant to E.O. 14024 for having acted or purported to act for or on behalf of, directly or indirectly, the Government of the Russian Federation.

German national Markus Gerhard Mueller (Mueller), Swiss nationals Ronald Eric Cosman (Cosman) and Bruno Koller (Koller), as well as the Switzerland-based company Swisstec 3D AKUS AG (Swisstec) have assisted Moretti in the procurement of sensitive Western technologies and equipment for Russian intelligence services and the Russian military.

Mueller, Cosman, Koller, and Swisstec were designated pursuant to E.O. 14024 for having materially assisted, sponsored, or provided financial, material, or technological support for, or goods or services to or in support of, Moretti.

Moretti also used his UAE-based companies, Taerio Limited and Tamyna FZE , in his covert procurement schemes.

OFAC designated Taerio Limited and Tamyna FZE pursuant to E.O. 14024 for being owned or controlled by, or for having acted or purported to act for or on behalf of, directly or indirectly, Moretti.

The Malta-based company, Stratton Investment Group LTD , is owned by Taerio Limited. OFAC designated Stratton Investment Group LTD pursuant to E.O. 14024 for being owned or controlled by Taerio Limited.

The Swiss Italian national Frederic Pierre Villa (Villa), along with Moretti, are on the board of directors of Stratton Investment Group LTD. OFAC designated Villa pursuant to E.O. 14024 for being a leader, official, senior executive officer, or member of the board of directors of Stratton Investment Group LTD.

The Switzerland-based company Tamyna AG has sent numerous large wire transfers to Moretti’s company, Taerio Limited. Tamyna AG was designated pursuant to E.O. 14024 for having materially assisted, sponsored, or provided financial, material, or technological support for, or goods or services to or in support of Moretti.

Swiss nationals Hans-Peter Bomatter (Bomatter) and Lutwin Schommer (Schommer) are the senior managers of Tamyna AG. OFAC designated Bomatter and Schommer pursuant to E.O. 14024 for being a leader, official, senior executive officer, or member of the board of directors of Tamyna AG.

The Sofia, Bulgaria-based company Taerio International LTD EOOD (Taerio International) and the Saint Petersburg, Russia-based company Interpolytrade Limited Company (Interpolytrade) are owned or controlled by Mueller. OFAC is designating Taerio International and Interpolytrade pursuant to E.O. 14024 for being owned or controlled by, or for having acted or purported to act for or on behalf of, directly or indirectly, Mueller.

Arms Dealer Supporting Russia and Belarus

Nurmurad Kurbanov (Kurbanov) is a Russian-Turkmen arms dealer who has represented Russian and Belarusian defense firms abroad. Kurbanov has facilitated military and technical cooperation efforts between Russia and foreign countries. Kurbanov has additionally represented U.S.-sanctioned Belarusian firm OKB TSP Scientific Production Limited Liability Company (OKB TSP), which is involved in the production of a short-range air defense system, in its sales efforts abroad. Kurbanov also owns Cyprus-based firm Stella Leone Limited .

Kurbanov was designated pursuant to Belarus-related E.O. 14038 for having acted or purported to act for or on behalf of, directly or indirectly, OKB TSP. Stella Leone Limited was also designated pursuant to E.O. 14038 for being owned or controlled by, or for having acted or purported to act for or on behalf of, directly or indirectly, Kurbanov.

Russian Elite-Linked Businessman Tied to Illicit Financial Activity

Russian businessman Aleksandr Yevgenyevich Udodov (Udodov) is the former brother-in-law of Russian Prime Minister Mikhail Mishustin (Mishustin) and has been linked to business dealings with both Mishustin himself and Mishustin’s sister. Udodov has also been investigated for manipulating value-added tax revenues and money laundering.

Udodov and his Moscow-based management consulting firm, Limited Liability Company Aforra Management , were designated pursuant to E.O. 14024 for operating or having operated in the management consulting sector of the Russian Federation economy.

The following Udodov-owned, Russia-based companies were designated pursuant to E.O. 14024 for being owned or controlled by, or for having acted or purported to act for or on behalf of, directly or indirectly, Udodov:

• Limited Liability Company Aforra Development
• Limited Liability Company Aforra Engineering
• Limited Liability Company Aforra Property
• Limited Liability Company Aktiv R
• Limited Liability Company Arendoff
• Limited Liability Company Atlas Real Estate
• Limited Liability Company Ayaks
• Limited Liability Company Garantiya
• Limited Liability Company Mushroom Rainbow
• Limited Liability Company New City
• Limited Liability Company Nikoliya
• Limited Liability Company Optima Invest
• Limited Liability Company Russul
• Limited Liability Company Stork

Udodov’s business interests also extend outside of Russia’s borders. Udodov owns Avrora Capital SRO (Avrora Capital), located in Prague, Czechia. Udodov also has control over Leading Capital Investment Ltd (Leading Capital), a real estate holding company registered in the British Virgin Islands, and Bahamas-based Caliber Wealth Management Ltd (Caliber Wealth Management).

Avrora Capital, Leading Capital, and Caliber Wealth Management were designated pursuant to E.O. 14024 for being owned or controlled by, or for having acted or purported to act for or on behalf of, directly or indirectly, Udodov.

SANCTIONS TARGETING RUSSIA’S MILITARY SUPPLY CHAINS

Treasury is taking additional steps to impose costs on and further restrict key entities that support Russia’s military capabilities. Since the start of Russia’s full-scale war, Treasury has targeted Russia’s defense industries. Treasury will continue to designate Russian Federation persons connected to Russia’s defense industries to degrade Putin’s ability to wage war against Ukraine or against any other country in the future. In October 2022, Treasury, the Department of Commerce, and the Department of State issued an alert highlighting the impact of sanctions and export controls on Russia’s military-industrial complex.

Designations of Russian Entities that Produce Carbon Fiber and Related Advanced Materials for Russia’s War Machine

Russia’s military-industrial complex is the largest consumer in Russia of carbon fiber and other related advanced materials. Carbon fiber and related materials are critical to the development and production of Russian defense systems. They are used in almost all defense-related platforms including aircraft, ground combat vehicles, ballistic missiles, and military personal protection gear, as well as other weapons systems. Today, Treasury is designating numerous Russia-based entities involved in the production of carbon fiber and related materials.

UMATEX Joint-Stock Company (UMATEX) is Russia’s largest producer of a wide range of carbon fibers and fiber-based items. UMATEX manages a division focused on promising materials and technologies, and focuses on the production of high-technology carbon fiber and other high-technology products. UMATEX was designated pursuant to E.O. 14024 for operating or having operated in the technology sector of the Russian Federation economy.

OFAC also designated three UMATEX subsidiaries pursuant to E.O. 14024 for being owned or controlled by, or for having acted or purported to act for or on behalf of, directly or indirectly, UMATEX:

• UMATEX Group Europe S.R.O. , a Czechia-based subsidiary of UMATEX.
• Argon , a Russia-based company that produces carbon fiber materials used by aircraft-building companies.
• Zavod Ulgerodnykh I Kompozitsionnykh Materialov , a Russia-based company that produces carbon fiber used in the aerospace industry.

Treasury also designated UVICOM LTD , a Russia-based company that produces carbon fibrous materials and that develops technologies for carbon fiber materials. UVICOM LTD was designated pursuant to E.O. 14024 for operating or having operated in the technology sector of the Russian Federation economy.

Designations of Entities that Operate in Russia’s Aerospace Sector

OFAC today designated the following entities pursuant to E.O. 14024 for operating or having operated in the aerospace sector of the Russian Federation economy:

• Joint Stock Company Prepreg Advanced Composite Materials , a Russia-based company that produces an assortment of materials used in aircraft engineering.
• Limited Liability Company Alabuga-Fibre , a Russia-based company that produces various types of carbon fibers used in aerospace and aircraft engineering.
• Limited Liability Company Prepreg-Dubna , a Russia-based company that produces an assortment of materials used in aircraft engineering.
• Joint Stock Company Research Institute of Graphite-Based Materials NIIGRAFIT (NIIGRAFIT), a Russia-based research institution and company that was created for the study and development of special types of carbon materials and products. NIIGRAFIT also produces materials used in rocket and space technology and the aviation industry.
• Joint Stock Company the Urals Scientific Research Institute of Composite Materials , a Russia-based research institution and company that specializes in research, development, and fabrication of composite goods for rocket-and-space hardware.

OFAC today designated the following entities pursuant to E.O. 14024 for operating or having operated in the defense and related materiel sector of the Russian Federation economy:

• Perm Scientific Research Technological Institute , a Russia-based research institute that provides solutions related to the development and application of modern equipment including artillery mounts and missile systems.
• Joint Stock Company Military-Industrial Corporation NPO Mashinostroyenia , a Russia-based company that develops and fabricates weapons and military hardware that was first designated in 2014 pursuant to E.O. 13662

Designations of Persons Operating in Russia’s Technology and Electronics Sectors

Russia’s defense industry is reliant on imported microelectronics and other technology both produced domestically and imported from abroad. Today, Treasury continues to target firms and individuals in Russia’s technology and electronics sectors, including persons who produce or import specialized or high-tech equipment used by Russia’s defense entities.

OFAC today designated the following persons pursuant to E.O. 14024 for operating or having operated in the technology sector of the Russian Federation economy:

• 0Day Technologies , a Moscow-based cybersecurity consulting firm, has provided databases of western nation citizens’ personally identifiable information to Russian intelligence.
• OOO Iteranet (Iteranet), a Russia-based technology company, has helped the Government of Russia circumvent U.S. sanctions by purchasing U.S.-origin equipment on behalf of sanctioned end-users.
• OKB Spektr OOO (OKB Spektr), one of the largest manufacturers in Russia of spectral analytical instruments. OKB Spektr develops electronic-printed circuits. In addition, OKB Spektr provides telemetry support for ballistic missile flight testing at Russia’s missile test ranges.
• Limited Liability Company Maxtech (Maxtech), a Moscow-based technology company specializing in server hardware.
• Russian Federation nationals Anastasiya Olegovna Eshstrut (Eshstrut) and Maksim Valeryevich Safonov , co-owners of Maxtech. Eshstrut is also Maxtech’s general director.
• Novilab Mobile, LLC , a Moscow-based software developer, has worked with U.S.-designated Russia-based company Advanced System Technology, AO (AST) on a project to enable mobile device monitoring. In April 2021, OFAC designated AST pursuant to E.O. 14024, E.O. 13694, E.O. 13382, and Section 224 of CAATSA for providing support to the FSB.
• Limited Liability Company Promtekhekspert , a Moscow-based technology equipment and consulting firm formerly partially owned by Eshstrut that shares an address with Maxtech.
• PSV Technologies LLC (PSV), a Moscow-based technology company that delivers high-tech equipment into Russia and has distribution relationships with both Russia-based and foreign technology and equipment manufacturers. PSV has attempted to procure export-controlled equipment from the United States for an entity associated with the Russian defense industry.
• Sergei Valentinovich Petrov (Petrov), the owner of PSV.
• Svetlana Alekseyevna Moretti (Svetlana Moretti) owner and CEO of the technology company Tamimed. 
• Tamimed , a Moscow-based technology company, designated for operating or having operated in the technology sector of the Russian Federation economy, and for being owned or controlled by, or having acted or purported to act for or on behalf of, directly or indirectly, Svetlana Moretti.
• AO Russian High Technologies , a Russia-based information technology company, has worked on behalf of Russian intelligence services.
• Forward Systems, R&DC , a Moscow-based computer programming and information technology company, has developed specialized software and algorithms in support of contracts with the Russian Federal State Unitary Enterprise (FGUP) 18th Central Scientific Research Institute (TsNII), which is part of the Russian Main Intelligence Directorate’s (GRU) efforts in offensive cyber operations.
• ZAO Akuta , a St. Petersburg-based computer programming company, provided programming services for a telecommunications system for a new GRU facility in Russia.

Joint Stock Company Vakuum.ru (Vakuum.ru), a Russia-based company specializing in the sale of manufacturing and technological equipment to Russia-based customers. Continuing at least through 2021, Vakuum.ru worked with the Russian intelligence-linked procurement network of U.S.-sanctioned Malberg Ltd. (Malberg) to obtain advanced equipment with applications in the microelectronics and quantum industries. On April 15, 2021, OFAC designated Malberg pursuant to E.O. 14024 for being owned or controlled by, or for having acted or purporting to act for or on behalf of, directly or indirectly, the Government of the Russian Federation.

By Trade OU (By Trade) facilitated hundreds of thousands of dollars of shipments by Malberg to Russia, continuing at least through 2020. In 2019, By Trade attempted to illegally ship a U.S.-made precision jig grinder with nuclear applications to a Russian entity.

Vakuum.ru was designated pursuant to E.O.14024 for operating or having operated in the technology sector of the Russian Federation economy. By Trade was designated pursuant to E.O. 14024 for having materially assisted, sponsored, or provided financial, material, or technological support for, or goods or services to or in support of, Malberg.

OOO Lavina Puls (Lavina Puls) and AO Inforus (Inforus) have provided technical support to malign influence operations conducted by the GRU, including the management of false social media personas. The Kremlin has used these tools of malign covert influence to attack democracy in the United States, Ukraine, and around the world. Andrey Igorevich Masalovich (Masalovich), the head of Lavina Puls and Inforus, has worked to sell the internet monitoring and influence technology he designed for the GRU internationally. The United States and its allies will continue to take action to ensure that those who seek to export the Russian government’s brand of authoritarianism cannot do so with impunity. Lavina Puls, Inforus, and Masalovich were designated pursuant to E.O. 14024 for operating or having operated in the technology sector of the Russian Federation economy.

Russia-based Open Joint Stock Company Ilyenko Elara Research and Production Complex (AO Elara) is a manufacturer of electronic equipment and devices. AO Elara produces such electronic instruments for Russian amphibious and military aircraft, and has additionally worked with one or more sanctioned Russian firms. AO Elara was designated pursuant to E.O. 14024 for operating or having operated in the electronics sector of the Russian Federation economy. Treasury also designated AO Elara’s General Director, Andrey Aleksandrovich Uglov (Uglov), a former Government of Russia official. Uglov was designated pursuant to E.O. 14024 for being or having been a leader, official, senior executive officer, or member of the board of directors of AO Elara.

UVICOM LTD was also designated pursuant to E.O. 14024 for operating or having operated in the technology sector of the Russian Federation economy.

Designations of Other Entities Supporting Russia’s War against Ukraine

Treasury designated Federal State Unitary Enterprise Central Scientific Research Institute of Economics , Informatics and Management Systems (TsNII EISU), a Russia-based enterprise that performs a system-forming role in the further development of the command and control systems of the Armed Forces of the Russian Federation. TsNII EISU was designated pursuant to E.O. 14024 for operating or having operated in the defense and related materiel sector of the Russian Federation.

Treasury designated Independent Insurance Group LTD (IIG) pursuant to E.O. 14024 for operating or having operated in the defense and related materiel sector of the Russian Federation economy. IIG provides insurances services to companies in Russia’s defense sector.

Treasury also designated Private Military Company Redut (PMC Redut), a Russian mercenary force fighting in Ukraine that purports to provide security services. PMC Redut is linked to the GRU as well as the broader Russian Ministry of Defense. PMC Redut was designated pursuant to E.O. 14024 for being owned or controlled by, or for having acted or purported to act for or on behalf of, directly or indirectly, the Government of the Russian Federation.

EXPANDING SANCTIONS: METALS AND MINING SECTOR

OFAC is enhancing and expanding its use of Russia-related sanctions authorities by issuing a determination that identifies the metals and mining sector of the Russian Federation economy pursuant to section 1(a)(i) of Executive Order (E.O.) 14024. This determination allows for sanctions to be imposed on any individual or entity determined to operate or have operated in that sector and expands the United States’ ability to swiftly impose additional economic costs on Russia for its war of choice in Ukraine. This action complements existing provisions for sanctions against those that operate or have operated in the quantum computing, accounting, trust and corporate formation, management consulting, aerospace, marine, electronics, financial services, technology, and defense and related materiel sectors of the Russian Federation economy.

Pursuant to today’s determination, OFAC designated four entities for operating or having operated in the metals and mining sector of the Russian Federation economy:

• Joint Stock Company Burevestnik Central Scientific Research Institute , a Russia-based arms and artillery manufacturer that is also involved in manufacturing metals.
• OOO Metallurg-Tulamash , a Russia-based steel manufacturer that also manufactures armaments for Russia’s navy.
• TPZ-Rondol OOO , a Russia-based company that specializes in coating metals and is a subsidiary of one of Russia’s leading ammunition manufacturers.
• Mtsenskprokat , a Russia-based company that produces unique metal alloys and products for Russia’s aviation and defense industries.

For Frequently Asked Questions (FAQs) related to this determination, click here.

SANCTIONS IMPLICATIONS

As a result of today’s action, all property and interests in property of the persons above that are in the United States or in the possession or control of U.S. persons are blocked and must be reported to OFAC. In addition, any entities that are owned, directly or indirectly, 50 percent or more by one or more blocked persons are also blocked. All transactions by U.S. persons or within (or transiting) the United States that involve any property or interests in property of designated or blocked persons are prohibited unless authorized by a general or specific license issued by OFAC, or exempt. These prohibitions include the making of any contribution or provision of funds, goods, or services by, to, or for the benefit of any blocked person and the receipt of any contribution or provision of funds, goods, or services from any such person.

For identifying information on the individuals and entities sanctioned or property identified today, click here.

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International business personal statement example 5.

From a young age, I developed an eager interest to how both small and large businesses work. My enthusiasm for a business-related subject came from growing up watching my stepfather run a small and successful tailor store and my mother working at Citibank. This made me aware of the daily life in the business world where an extensive amount of time and effort is put in, in order to satisfy the need of the customers. As my stepfather's tailor store used to be situated in my home country Vietnam, I also became fascinated of how a business could be moved from one country to another. I became keen to understand how the success of a business could differ tremendously depending on culture and circumstances. Furthermore I have always been drawn to understanding the way the world works and how different cultures cooperate in order to function as a whole. Therefore working in the international spheres within business has for a long time been a great interest of mine.

Studying economics in social studies 1 and 2 strengthened these early interests. It taught me the pricing of goods and services, the process of production and the basic concept of supply and demand. Furthermore, in my sustainable development course, I learnt how Maslow's theory of hierarchy of needs can be used in businesses to motivate employees to work productively but also the importance for a business to operate sustainably with its stakeholders in mind. These subjects broadened my knowledge of the development of businesses in an ever changing world. Additionally, through the course of sustainable development I was awarded the opportunity to examine sustainable solutions to transport on a study trip to India. I believe this allows me to advance my practical ability of collecting information and gain experience of the social, economic and environmental issues of the developing world.

Some other interests I have gained from my three years at upper secondary high school are my increasing interests for solving math problems as it has taught me to be determined in solving issues. Moreover my interest for studying English, Swedish, Mandarin, French and Vietnamese has developed my ability to write texts and essays and also understand different cultures. Therefore my mathematical ability allied to my broad linguistics has helped develop my communication skills and hold a balanced and open-minded outlook on the world. These can be useful to drive ideas forward in businesses on a national and global level.

Outside the classrom, I like to involve myself in extra-curricular activities in order to advance my educational experience. Being a part of school associations such as the graduation committee has helped develop my ability for leadership and organization. I was also a member of the schools cheerleading team. Cheerleading was physically demanding and required a great amount of trust. Due to this I learnt the values of hard work, determination and teamwork. Apart from school activities I work at a fast-food restaurant as a part-time job, this has taught me the essence of team work and handling stress and pressure. From this I believe that what has been learnt will be essential for all aspects in the studies of business.

Through studying an area in business at university I believe that it will further strengthen my understanding of this subject. As a student with an international background it would be perfect to study in the United Kingdom as it is offers many international cities with universities that have a global outlook. Also, after receiving high marks in the Social Studies program, I wish to further my ambitions in the business industry in hope to contribute to your university community as I develop theories and ideas of my own to improve the idea of managing a successful business.

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Author's Comments

Applied to: Warwick university, loughborough university, strathclyde university, bristol university and Edinburgh university

Got offers from: Warwick university and loughbourough university

I will be attending Warwick university october 2017

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