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ADMISSION ESSAYName:Course:Professor Name:(February 07, 2012)ResearchIt is a very challenging factor to start an association, especially when dealing with business, regardless whether small or large scale business. As a leader of an organization we formed while I was at third year in university, I managed to discover and learned several important issues, including the challenges faced while establishing an organization and managing it. The most essential factor, and which was also a challenging one, was capital. At first, I realized that most organizations do shut down because of inadequate enough capital and mismanagement. Therefore as a leader I had to establish some important strategies with an aim of trying to safeguard our newly formed organization to fall into such trap.The first one and which I noticed that played big role in securing our business, involved setting up measures on how to manage all the income business capital in the most appropriate manner. As an organizational leader, I conducted each member individually and organized a m...