MBA in entrepreneurship the latest fad in the industry
When one starts thinking about entrepreneurship, there are many things that strike. One of the most crucial questions is whether one should go to a business school and get a MBA in entrepreneurship degree. While some self-made entrepreneurs believe that experience makes them successful rather than a degree, others support the idea of having a formal degree. The article intends to explore the importance of a Master of Business Administration (MBA) degree through a thorough understanding of MBA as a stream and its significance in shaping the skills of an individual.
What is an MBA Degree?
Commonly known as MBA, Master of Business Administration is a postgraduate degree that is designed to train and equip business professionals with skills and knowledge to lead organisations in both public and private sectors. An MBA programme deals with specific fields of the business and commerce industry. With umpteen branches such as finance, marketing, human resource and the newest one being entrepreneurship, one can enrol in an MBA programme via an application process which is based on an extensive skill and personality test.
The curriculum is designed keeping in mind the business trends and commercial viability of the industries one wishes to make a career in. MBA is an attractive degree in terms of overall market value and job prospects as the industry thrives on good leaders and workmanship.
Whether one is looking to advance in their current job, find new job opportunities, or simply start their enterprise, an MBA is regarded as a top pick. Coursework is designed to provide soft skills that employer’s desire the most. These include:
- Problem-solving ability
- Time management
- Work experience
MBA has a vast scope with umpteen possibilities for the graduates to explore. There are many opportunities to make a career in the industry through fields like accounting, finance or marketing, or run a business in emerging fields such as IT, energy, hospital management or international business.
How Does MBA In Entrepreneurship Help In Developing Business Acumen?
In a developing country like India, the economy is rapidly evolving. This opens frontiers of commerce to become strong businessmen who are ready to be team players as well as leaders. An MBA in entrepreneurship programme is gradually becoming the most popular professional degree across the country and worldwide. The desirability of the programme is attributed to the fact that its skill-based curriculum is highly focussed on acquiring business and management acumen. The graduates are prepared to be professionals who can grow their own business as well as contribute to the development of the sectors they are working in.
Besides theory, concepts and fundamentals, an MBA in entrepreneurship focuses on applications of the subjects in a much more practical way. Even if the graduates end up working in a professional setting, both the public and private sectors employers prefer MBA graduates to work in their organisation. This is because the programme effectively hones their professional skills, exposes them to field experience and the industry, provides them with inside knowledge of the business, and provides networking opportunities by facilitating interaction with business experts and economists.
How Is An MBA In Entrepreneurship Different From Other Degrees Or Courses?
You may still wonder why an MBA for entrepreneurs? Or whether an MBA in entrepreneurship is worth it? For business aspirants and entrepreneurs, earning an MBA will be extremely beneficial at all stages of their career. An MBA degree helps them develop invaluable networking and entrepreneurial skills for future business ventures. Other streams do not focus so extensively on soft skills. The coursework of MBA is such that one gains work experience through internships and job assistance programmes, thereby exposing them to the industry as well.
MBA in entrepreneurship is different because while a simple postgraduate degree imparts rich theoretical knowledge, an MBA provides an advantage of better professional understanding and hands-on knowledge of the corporate world. MBA is a more versatile postgraduate-level business degree in which the curriculums offer a variety of concentrations and specialised coursework to students. Consequently, they can pursue their studies according to their interests and career goals.