Till about a couple of decades ago, setting up one’s own business and becoming an entrepreneur was considered to be a high-risk career choice. Quite often, students would choose to join an established corporation and gain considerable experience before dreaming of venturing out on their own. Over the past few years, however, start-ups and entrepreneurship have become the two keywords defining success for young men and women. The support of the government of India has imparted a boost to their self-employment opportunities. Most of the management colleges in Delhi and other major cities now provide skills-based education tailor-made for budding entrepreneurs.
The importance of pursuing an MBA (Master’s in Business Administration) degree cannot be stressed enough. The very design of this course is of great help to aspiring entrepreneurs. Setting up one’s own business venture will require the entrepreneur to be skilled at accounts and finance, operations, sales, marketing, HR management, and just about all aspects of managing the business. MBA offers the perfect platform for promising entrepreneurs to learn all these before setting up the start-up. Very often wannabe entrepreneurs gain a good working knowledge of their core operations area (such as engineering, hospitality, or technology) and then pursue an MBA to learn the nitty-gritty of managing a business enterprise.
Refining Business Ideas:
When an aspiring entrepreneur steps out of school into undergraduate college, he or she may have a vague idea about the startup or business venture he or she wants to set up. The process of refining this idea and coming up with a solid business plan based on sound financials is a long process. Starting from the day he or she gains PGDM admission, our budding entrepreneur comes in association with brilliant business minds. Some of these are peers but more important are the business leaders and pioneers who teach and mentor at these colleges. This clearly helps the vague idea translate into a successful business enterprise.
Experience Through Education:
Most of the reputed management institutes in India have well-refined course curricula which allow students to connect and interact with businesses from across the globe. This exposes them to various market scenarios and helps develop solutions for various challenges. The experiences gathered by the students before they gain their MBA degree equip them to administer their start-ups and family businesses with the expertise of a senior manager.
The demand for admissions in business schools offering specialised BBA and MBA courses focusing on all aspects of entrepreneurship has been on the rise. This means that Entrepreneurship-centric MBA courses are more popular than others. Gaining an MBA with this specialisation helps a fresher to quickly get at par with a senior businessperson administering the family business. It also gives the student the confidence required to go forth, raise capital, and set up the venture of their dreams. Quite often it also brings together peers to join hands as collaborators, capitalising on their shared skills and resources.