Would you prefer to perform a small role in a big organization, or launch a new business venture of your own as founder or CEO?
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Over time more and more students are turning to the latter option. Although it is more risky, it is also a lot more challenging and rewarding.
To cater the growing demand, business schools have introduced a wider range of alternative business education programs, which are focused on equipping students with the necessary skills for staring their own business and becoming their own boss.
Masters or MBA in Entrepreneurship program is designed to improve the skills and knowledge of current as well as aspiring businessmen. Therefore, whether you want to make your existing business ideas work or get new ideas rolling, MBA in entrepreneurship may prove to be useful.
What will the Program Curriculum be like?
You will be required to take up some of the traditional courses that are offered as part of the MBA general program. These may include:
- Managing Organizational Behavior
- Service Operations Management
- Business Modeling
- Managerial Marketing
- Enterprise Information Systems
In addition, you’ll have to choose courses that are particularly focused on entrepreneurship.
Examples of such courses include the following:
Entrepreneurship Concentration Courses
- Internet Marketing and Social Networking
- International Trade for Entrepreneurs
- Entrepreneurship/Venture Creation
- Entrepreneurship Law
- New Product Development
There will be variations in the names and types of courses across different universities. However you’ll typically have to take several core courses along with some concentration courses in order to fulfill the credit hours requirement.
Why take up MBA in entrepreneurship?
If you’re wondering that you do not need formal education to become a businessman, think again. Proper education and training will help you get that competitive advantage in the contemporary corporate world. Many business schools provide opportunities that’ll help develop and enhance your entrepreneurial skills effectively. These may include:
- Business plan competition
- Mentorship of some of the leading entrepreneurs in the industry
- Networking opportunities. You’ll be able to integrate with like-minded aspiring entrepreneurs and come up with creative solutions
- Research projects that enable you to delve in one particular market and get valuable insights
- Internship programs
What are the admission requirements?
The admission requirements may be different from one university to another. However you’ll typically be required to provide the following:
- Bachelor’s degree from an accredited institute
- GMAT or GRE score report
- Letters of Recommendations
- Personal Statement
- Official Transcripts and Degree
Online MBA entrepreneurship:
If you wish to continue managing your current business or other personal/ professional commitments along with your education, there’s a way out for you too. You will not necessarily have to travel to a campus-based institute to take classes in entrepreneurship. Many institute offer online MBA entrepreneurship
programs that’ll help you:
- Reduce costs relatively
- Study according to your own schedule and pace
- Enroll in a program virtually from any location
- Hold onto a job while you study
- Benefit from an equally rigorous curriculum
With an MBA degree in entrepreneurship, most of the graduates go on to launch their own business ventures or improve the prospects of their existing businesses. However some students decide to gain relevant experience in the industry before deciding to setup their own ventures.
Some positions they may seek include the following:
- Business development manager/director,
- Marketing manager/director
Potential workplaces include:
- Consulting firm,
- Financial services
- Internet commerce
Therefore, whereas some students head towards establishing their own businesses, others may take some time to acquire more experience in order to refine their skills and arrange the required startup finance. However the perceived ultimate objective for most students who enroll in an MBA entrepreneurship program remains setting up their own business ventures. Perhaps they are among the breed of students who do not wish to remain just a cog in the wheel.