A successful entrepreneur is someone who is passionate about his/her ideas and not afraid of taking risks. But this alone is not enough. Managerial and leadership skills, growing and building professional networks are also required for a successful venture. This is the reason more and more people are opting for MBA in entrepreneurship from top B-schools to be better prepared in launching their start-ups. MBA programs in entrepreneurship teach how a good idea can turn into a great business. This article gives you a broader perspective which helps you to know how an MBA helps in entrepreneurship.
How MBA helps in business
The skills taught and developed during MBA include networking, teamwork, leadership skills, creativity, and flexibility in decision making — all of which will help in launching a successful start-up. To know how MBA helps in business, many business schools have become the best place to try and implement the most creative and innovative ideas without the pressure and fear of failure. In fact, these business schools help students to find out what could go wrong in their idea and where they need to refine or reevaluate their business model to present and implement perfectly in the world. The schools provide support by appointing teachers and mentors to guide the students along the way to search for innovative ideas that may help them find a different path.
Helping you learn the managerial skills and providing the vision to see all sides of an entrepreneurial experience may lead you to a better understanding of whether you can be a good entrepreneur or not, that is how MBA helps in business leading skills.
How MBA helps in entrepreneurship
The top B-schools offer the best environment to grow your network personally and professionally. As rightly said, entrepreneurial success requires teamwork, strong professional network, and personal connections who suggest and advice to decide for a better business plan. B-schools offering MBA in entrepreneurship provide their students with real-world entrepreneurial experiences through cross-campus initiatives and involvement with various business communities. You might find someone who could become a valuable asset to your team down the line. These strong networks are a testimony to how MBA helps in entrepreneurship.
How MBA can help an entrepreneur
To know how MBA can help an entrepreneur you need to enroll yourself in a B-school and opt for entrepreneurship as a concentration and take required electives relevant to Entrepreneurship. These programs of top B-schools may help you to know how MBA can help an entrepreneur to run and grow a company and not just launch it. You need to have the capabilities to convert your idea into an actual business. More than other roles, an entrepreneur needs to know a little bit of everything. You’ve to act as a leader of your team, know how to market your product or service and find a person to handle all your finances. All these are covered in the classes of MBA programs including human resource management, business laws or ethics, capital financing, marketing, and operations in management. This is how MBA can help an entrepreneur to solve workplace issues later on and avoid situations which may represent you as an incompetent entrepreneur.
Entrepreneurship Support at IIM Udaipur
An integral component of IIMU’s mission is to create a culture that inspires entrepreneurship and innovation. With this in mind, the Institute provides concrete, practical support to students who opt to take the risk of becoming aspiring entrepreneurs. The support includes:
- A stipend to help cover the basic cost of living. This ensures that students don’t have to worry about their day to day subsistence and can focus on their larger objective of starting a venture.
- A placement holiday, allowing students to use campus placement services at a later date, within two years of graduating.
One Year MBA programs by IIM Udaipur
With the ever-increasing need for business managers who can manage complex global supply chain trends spanning around the world, effective supply chain management is considered to provide an essential competitive advantage. Realizing this, IIM Udaipur started the one year MBA in Global Supply Chain Management. The one year MBA program is for experienced professionals with two options wherein one option offers dual degrees — MBA from IIM Udaipur and MS from Purdue University — and the second option offers MBA from IIM Udaipur with two weeks of international experience. With the objective of developing the business leaders of tomorrow, the Institute is seeking candidates with more than three years of experience. It is uniquely conceived to ensure professionals acquire the business tools, global mindset, and interpersonal skills to pursue their careers. Applications for the batch of 2020–21 are now open.
In the fast-changing world, emphasis on analytics and new technologies will enable managers to work efficiently in the emerging digital business enterprises where the conventional management concepts and leadership styles no longer apply. This made IIM Udaipur launched the first-ever one year MBA in Digital Enterprise Management (DEM). This unique program is designed for experienced professionals aiming to explore new emerging technologies and intending to gain an understanding of managerial in digital enterprises. The one-year program provides students with a solid foundation in management fundamentals and exposes them to contemporary practices of data-driven decision making. This program provides a well-rounded exposure to business management, data analytics, and emerging technologies that are severely in demand in the corporate world.