Many aspiring entrepreneurs ask this question, is it necessary for them to acquire MBA degree? Should money and time be invested in the pursuit of MBA?
For most people, acquiring a degree means only fulfilling a job criteria set by companies. However, MBA degree gives you more than that. Here are few necessary skills for would be entrepreneurs that MBA courses teach:
MBA courses structured by experienced faculty members build the understanding of strategy, finance and marketing. The use of financial and inventory controls equips aspirants with necessary knowledge to mitigate risk and generate capital for business.
It teaches how to work in teams with people of diverse backgrounds who have different ideas and methods than you. In business ventures, one cannot always choose who one will collaborate with, in such cases, having the experience of working with people with different attitudes can come in handy.
Professional networking is also a major factor for the success of any business. The structured mentorship and access to valuable resources are much needed tools that prove a starting point for many would be entrepreneurs.
The understanding of human resources and need for well-designed compensation system is necessary to build a company. No company can be run by a single man.
In stimulating environment of MBA programs, one can learn to test their ideas without any consequential damages. The failure of startups in real world can be lowered with the experience of experiments done earlier in MBA.
The theory based part of MBA programs teaches aspirants how to read financial statements and work with spreadsheets. In business schools, students learn to analyze balance sheets, cash flow statements and analyze case studies. These basic little details can only be learned in structured courses taught in MBA programs.
Any business venture demands risk. Though one cannot be taught how to take risks but the knowledge of diversification or long term equities versus bonds may make an investor more willing to take risks.
Team.i school of new Bangalore provides a nurturing environment to their students to grow and transform themselves into the future entrepreneurs.
Also See :Get the Most Value from your MBA