B-school applications

You can tell you're in a matching market if there's an application and admission process. Selective Business schools are deeply into their admissions processes. The WSJ has a short description of the newly released Harvard Business School application for the class of 2015. HBS asks for two short essays this year:
Tell us about something you did well. (400 words)
Tell us about something you wish you had done better. (400 words)

Applicants who get through the initial screening process are invited for in person interviews, at which point around one in two get accepted.