Walt Disney: “All our dreams can come true, if we have the courage to pursue them.”
Many individuals harbor the dream to establish their businesses. There are many steps involved in the starting of a business. From assessing the viability of the business plan to managing the funds to registering the company, to other legal formalities, to hiring the right team, each step requires a lot of effort. Many professionals with work experience seek admission in MBA-Entrepreneurship as they have plans to establish business ventures. In the past few years, many ambitious professionals have set up new ventures thus becoming entrepreneurs.
Why MBA in Entrepreneurship?
A youth who intends to set up a business should definitely pursue an MBA in Entrepreneurship, thus giving the necessary boost. Entrepreneurs focus on making strategies that are aimed at profit-making. Individuals who understand the pattern of consumer behavior are able to assess business opportunities in a much better way. IIM Bangalore’s unique program MBA ( NSRCEL ) is a sought after course and individuals serious in achieving their goals work towards getting admission in this course. The IIM- Bangalore’s N S Raghavan Centre of Entrepreneurial Learning (NSRCEL) course was started in the year 2000, and it is a highly integrative course. The institution endeavours to create a close connection between the theory and practice of entrepreneurship. Another feature of the course curriculum is that academic research aims at promoting a better understanding of the entrepreneurial context and entrepreneurial strategies as regards to the Indian context. Through the means of formal education (MBA in Entrepreneurship), budding entrepreneurs get a head-start to take the plunge and work accordingly.
Scope of MBA in Entrepreneurship:-
The rise in the income levels of the middle class has led to better standards of living. Over the years, consumerism has had a positive as well as a negative impact on society. Young professionals explore business opportunities that cater to the demands of the economically well-off middle-class society. Therefore the need for professionals who are well qualified and are ready to provide services has risen. An individual equipped with a management degree with Entrepreneurship as specialization develops an optimistic bent of mind. Candidates possessing MBA- Entrepreneurship from a reputed MBA college has the upper edge. The MBA (Entrepreneurship) curriculum is designed in a way that hones communication skills, logical thinking, and analytical skills of the candidate and helps him to develop a problem-solving approach.
Role of an MBA-Entrepreneurship:-
The MBA degree in Entrepreneurship equips young professionals to have a deeper understanding of the market dynamics and the economic restructuring post-globalization. An MBA (Entrepreneurship) from top MBA colleges (IIM-A, IIM-B, SIBM, SPJAIN etc.) has a bright future in terms of professional growth and has a constructive role to play in society. Apart from providing employment to many people, he envisions a bright future for others as well. An entrepreneur is a risk-taker and an innovator who has some unique ideas. He assesses situations and finds opportunities to mobilize capital for monetary benefits. Top MBA colleges providing Entrepreneurship as specialization have case studies and hold interactive sessions with business tycoons for the enrolled students.
Best Colleges offering MBA Entrepreneurship programme:-
- XLRI, Jamshedpur - Post Graduate Programme for Certificate in Entrepreneurship Management (PGPCEM)
- S.P. Jain Institute of Management & Research (SPJIMR), Mumbai (The Entrepreneurial Manager (TEM)
- IIM B- NSRCEL (https://www.iimb.ac.in/ns-raghavan-centre-for-entrepreneurial-learning)
- Entrepreneurship Development Institute of India (EDI), Gandhinagar - Post Graduate Diploma in Management - Business Entrepreneurship (PGDM-BE)
- Xavier Institute of Management & Entrepreneurship (XIME), Bangalore - Entrepreneurial Development Programme (EDP)
- Narsee Monjee Institute of Management Studies (NMIMS), Mumbai – MBA (Entrepreneurship & Family Business), MBA (Social Entrepreneurship)
- Nirma Institute of Management, Ahmedabad - MBA (Family Business & Entrepreneurship)
- Amity Business School, Noida - MBA (Entrepreneurship)
- Indian Institute of Management, Ahmedabad
- Symbiosis Institute of Business Management (Innovation & Entrepreneurship)
List of Subjects in MBA Entrepreneurship:-
- Entrepreneurship Process & Behavior
- Emerging Business Sectors & Technologies
- Innovation & Creativity in Business
- Strategies for Small Business Management
- Corporate Culture & Intrapreneurship
- Enterprise Planning, Appraisal & Financing
- Building Entrepreneurial Culture & Team
- Family Business Management
- Enterprise Growth & Succession
- Small Business Management
- Businesses in Emerging Market
- Creativity & Innovation in Entrepreneurship
- New venture feasibility
- Product design and marketing
The MBA colleges providing Entrepreneurship as specializations help students develop soft skills like team work, leadership skills, networking, decision making etc which boosts the confidence of budding entrepreneurs, thus increasing their success rate. A must read article to know about the best colleges providing management education in Entrepreneurship.