Entrepreneurship education seeks to provide students with the knowledge, skills and motivation required to encourage entrepreneurial success and lay down the conditions and solutions to the challenges that one might foresee in a venture. Business is the backbone of a country's economy and entrepreneurship is a tremendous force that has a huge impact on facilitating growth, recovery and societal progress. It results in innovation, employment generation and social empowerment. In India, entrepreneurship education is gradually picking up. That said it needs to scale up further to make everyone involved - promoter, investor, parents, employees, etc. MBA is projected as a suicidal course for entrepreneurs because Indian education is based on rote learning method. Neither do we encourage innovation nor are we ready to embrace failure, which are very necessary characteristics for becoming an entrepreneur. This is why I believe entrepreneurship education is so essential for today’s students and professionals, not just to help them start a business but to help them in developing an entrepreneurial attitude that will help them excel in their startup or at their workplace.
The MBA used to be the preserve of the senior manager – the best way to clamber up the career ladder to a lucrative boardroom position. Then came the recession, and thousands more business men and women at every stage in their careers were adding the three letters after their name in a bid to boost their employability. A few years on, MBAs are more popular than ever. Much of the current demand for MBAs stems from students living in developing economies. Traditional international business strategy-type modules have been augmented by more focused ones, such as Managing International Business in Emerging Economies. But it's a different type of need, coming up with modules on starting up a business in emerging economies in a way that the MBA is just as valid for someone thinking about becoming an entrepreneur in any part of the world.
Anyone can have a good idea, but it takes certain know-how to turn that idea into a profitable venture; entrepreneurs need a broad skill set to manage the range of tasks required for success. With flatter corporate structures, those still working while doing their M.B.A. recognize that a move sideways into a different type of project may be the best way to climb up the ladder
An Entrepreneurship MBA is a unique and valuable qualification designed for those with an interest in business and a strong entrepreneurial drive. This is an excellent qualification for those interested in their own venture, enabling them to learn skills and gain valuable knowledge to help them make their venture a success. However, having an Entrepreneurship MBA qualification is also a great way to enjoy an increased chance of getting into a business environment as an employees and enjoying great prospects in your career.
The program helps the student develop the skills required to evaluate business opportunities, create new ventures, and foster innovation. Additionally, it will hone your problem-solving and decision-making skills and explore the differences between managing start-ups versus large organizations. Analyze organizational development theories and change models currently being employed in organizations. The Entrepreneurship major develops knowledge and skills in the fields of new product development, change management and innovation and leadership, which are essential for those who aspire to make a career change directly into entrepreneurial ventures or return to a corporate setting with the necessary frameworks and skills to contribute entrepreneurial leadership.
Entrepreneurship is the MBA specialization field that is not only for people who want to be established as an entrepreneur or start up their own business. Many dynamic industries like technical and media companies are in search of MBA with entrepreneurship for their managerial positions to make their business continuously grow. The study mainly focuses on business administration strategy that encourages flexibility and innovations.
As with everyone else I also believe entrepreneurship has to be experienced rather than be taught. You can learn the basic fundamentals through schools and programs and cannot go blind on B-schools but you must have hands on experience which provides to the best education. A combination of both traditional education and self education will develop you into a more well rounded and capable entrepreneur.
I totally agree with you Rabia, B-schools now, have just become a way to fetch money from the students and do not focus on the actual learning. I would like to answer your queries: • What is the root cause leading to business schools failing to impart education related to the field of entrepreneurship? Firstly, you should remember that much of what schools teach is theoretical and doesn't always get applied, or only a slice of what is learned is actually applied. The idea of writing a business plan is to encourage students to think about all the aspects of a business. Even if a business owner never writes a business plan; they still should know the answers to what would have been on their business plan. I think in general the best entrepreneurial courses are one that include a lot of practical discussions from real business owners and merge that in a meaningful way with theory. • What is the current best practice for teaching entrepreneurship in a business school setting? I think one of the best things B-schools can do is bring in actual business owners. Stories and experiences of people, who have really done it, help, inspire and show the reality of entrepreneur’s life.
From what I understand, business schools were meant to be institutes where people learnt how to create and run businesses. Many MBA programs have become factories for making consultants and bankers. This may be the surest route to making a lots of money, and schools like it wealthy alumni give money back to their institution. It’s also a lot harder to teach how to be an entrepreneur as compared to simple business theory. And it’s even harder to teach what your purpose is and how you can best make an impact on the world. The students had not only failed to learn about entrepreneurship, but had learned many things that were just plain wrong, and hence being left in lurch. I've listed out a few initial questions I would like to tackle: •What is the root cause leading business schools to failing to impart education related to the field of entrepreneurship? •What is the current best practice for teaching entrepreneurship skills in a business school setting? •What solutions can we recommend to business school faculty to help them make a real positive change in the curriculum?
People take birth with different interest and attitudes. It is fortunate for the people who take birth with leadership qualities but it is not necessary that they would perform well as it is all about courage, confidence, motivating skills and circumstances which an individual faces through his/her life. It is also a real fact that each man possesses same things difference is just in way of thinking and interest. No doubt business schools try to emerge leadership qualities in a man to its best. But it is all about the theoretical knowledge and some amount of practical experience which is imparted by the business schools. The real field is something different. A true leader is one who is dynamic, confident, and positive and who doesn't move back in any kind of situation. Being confident may be inborn but tackling the situation is to be learnt from the circumstances. Surely business schools produce big leaders but the basic nature of man never changes. The B-schools just refine the qualities and nature of the person in a way that it polishes the person to fact the real world.
