MBA degree is important for entrepreneurship or not

"MBA degree for entrepreneurship"

MBA (Master in Business Administration)

The debate ‘whether an MBA degree is important for entrepreneurship or not’ has been going on for a long time. While, some people say it is not necessary. Or some say it is necessary. There are enough success stories of management graduates floating around, to counter that stream of thought, who set up successful start-ups after graduating from management schools.

Though spending time and money on launching and expanding business over attending classes may sound a better idea on the surface, the fact is a management training helps you run the business more effectively, making up for the ‘lost time’.
Here, we tell you why we are in favour of budding entrepreneurs earning an MBA degree.

Training and Skill Development: Having entrepreneurial aptitude is one thing and setting up a successful business is another thing. For those who have a flair for business, MBA fine tunes his/her talent by providing training in accordance with the latest global market trends and emerging business models.  

It is not necessary that a person will be equally adept at handling all the aspects of business. That’s exactly why an MBA program is required. It provides a structural mentorship in entrepreneurship besides teaching the basics of business, from managerial skills to customer relations to logistics etc.

Sandbox For Entrepreneurship: MBA training school is an effective sandbox for entrepreneurship, which means you can fail and make errors but recover from them without monetary loss. Moreover, you will be guided by professors and experts at each step. It is a safe place to experiment and fail and learn from it.

Exposure To The World Of Business: Anybody who sets up a business, does so with the aim of making it to the global platform. An MBA school provides you the right platform to meet and interact with people from various business backgrounds and experiences. Case studies and projects provide exposure to the global business market and trends which is vital to stay ahead in the race.

Calculated Risks: Every business is vulnerable to frauds, losses and unpredictability. While the management program cannot teach full-proof business model, what it does is teach you the ways to minimize risk and maximize profits. It provides case studies and models of cost-effective business operations etc. , training in analyzing market forecasts before making any investment and skills to run the business on a flexible model which can be molded without loss according to market trends.

Networking And Better Customer Relations: In every business, customer is the boss. No business survives without a happy clientele - larger the better. For a budding entrepreneur, building business network and clientele in a short span of time is vital. Years spent at an MBA school not only helps in building network and source business resources but also seek future partners, clients, capital and talent.

Ideas and Innovation: Exposure to the global platform is an important factor behind discovery of new business ideas and innovation. With the rapid technological advancement, there’s constant demand for new, improved products, whether it is baby food, skin cream or heavy electricals, there’s a constant demand for better products and improved services. It is but a necessity to be better than your competitor.

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