MBA - A Pathway to Succeed as an Entrepreneur
"Is MBA necessary to become a successful Entrepreneur?”-At one point or another, this thought crosses every entrepreneur's mind. While there are a lot of arguments for and against this topic, it's interesting to understand if, for an entrepreneur, an MBA is a necessity or not.
The history of Management Education dates back to the beginning of the 19th Century when Harvard started a dedicated program in Management. The demand for the qualified managerial professionals has gone up.
Here is how an MBA from a reputed MBA institute helps you as an Entrepreneur:
A Management Program is specifically carved to develop skills necessary to become a successful Entrepreneur
Management Educational Programs are practical in nature and are tailor-made to develop skills that a learner must have to ace in business. Leadership, Decision Making, People Management, Negotiation, and Communication are amongst the most prized skills that a Businessperson must have.
During an MBA or PGDM program (equivalent to MBA), a lot of focus goes in to inculcate these skills in the learner. Leaners are put under different circumstances simulating actual business problems through a number of methods. Case-Studies, internships, group discussions, classroom teaching, project works, and mentorship by industry veterans are part of a teaching pedagogy that keeps on updating, so a learner is always up to date with current business practices. This ensures that the learners are being exposed to a range of business problems that brings them out of their comfort zone and fears and gives them the confidence to face challenges.
Managerial Education enables an Entrepreneur to have a better understanding of Entrepreneurship itself.
Entrepreneurs are front-runners and innovators. Nothing has changed the world as much as entrepreneurship. But, even entrepreneurs are not immune and there is a long list of paradoxes that comes with it.
Being Management ready changes your approach towards Entrepreneurship. While it sharpens your skills and knowledge, it also broadens your understanding of Entrepreneurship, which as a result, elevate you to the level.
Being an MBA levels the playing field
If you are not an MBA, you may be at a disadvantage as most of your competitive companies are being run by CEOs, Leaders and Managers that are formally educated in management. It puts you in an immediate loss. Gone are the days, when the entrepreneurial spirit was the sole catalyst fuelling an enterprise. Facebook, Microsoft, or Apple, their founders maybe college drop-outs but the people running the shows, are the best minds in the game. Degrees from reputed MBA institutions or courses from established PGDM colleges set you for a dream-run. It levels the playing field and equips you with all the tools and techniques you'll ever need, or in other words, it makes you resourceful.
A degree from a reputed MBA institution or a Diploma from a top-rated PGDM College enhances your personal brand
'Branding by association' is the keyword here. Once you graduate from a management college, people infer that you are smart and capable. Being an MBA adds to your credibility and strengthen your personal brand.
Allow me to take the liberty to say that, sometimes, it makes people believe your actions if you add to your qualifications. Having said that, I want to give full regards to the skills or knowledge of an Entrepreneur.
An MBA opens your mind and makes you a more dynamic individual
The whole objective of education is to uplift human thinking to a level, which stimulates humans to work towards the betterment of our race. An MBA program does this beautifully. It opens a leaner's mind towards innovations, opportunities, and change.
"Red bull gives you wings"
The slogan may have been declared to be false advertising after a US lawsuit, but I love this line. May I say "MBA gives you wings", not literally of course. But you got the gist!
'To be, or not to be'
I believe I have been of help in shedding some light on this matter. However, for you, whether to pursue an MBA or not, may depend upon your personal objectives or preferences as well. If you have others managing your business while your role is more like a supervisor, you may not feel the need to go for an MBA. But, in reality, nothing could be farther from the truth.
An MBA degree may help you to effectively manage your business and explore a new avenue. Being professionally qualified will always come to your rescue and would help you to thrive in difficult situations.
That being said, I must add that qualification only from top PGDM Colleges will render the results you aspire.
In the present business scenario, pursuing MBA or PGDM is extremely vital to ensure competency in management. It is one of the most sought after courses in the management industry. It boosts career prospects and gives new leadership talent to the companies and the industry.
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