A professional degree in business management nurtures not only your career but life in general too, by enhancing your confidence, communication, time management skills and giving you a better perspective of this world. Specialized programs such as MBA in finance, operations, human resource, information technology, and entrepreneurship, etc., have a focused course structure to build your competencies in the specific areas.
An MBA degree in entrepreneurship is one such specialized course that helps you see beyond classroom education and shape your ideas. Let’s find out how?
Why Should You Pursue an MBA in Entrepreneurship?
With the changing dynamics of the business world, more people are now daring to think out of the box, take risks, and start new ventures instead of taking up a regular job.
As per the latest research conducted by Illuminate ventures, entrepreneurship is a large and growing area of interest among MBA students. Over 85% of the candidates indicated that they were considering entrepreneurship as a current or future career path. Some of the advantages of an MBA in entrepreneurship are as follows:
- According to the small biz trends, 46% of the new business ideas fail due to a lack of business competence. Through the focused course structure, an MBA in entrepreneurship can enhance your business sense. The curriculum prepares students to handle risks and uncertainties while teaching them to collaborate and work as a team.
- MBA in entrepreneurship allows you to interact with real-world professionals to gain better insights. Also, you get to have hands-on experience in managing an organization.
- Even if you wish to take up a job, there are ample opportunities for senior product managers, research and development managers, not-for-profit fundraisers, etc.
Top 5 MBA Programs for Entrepreneurship:
It is regarded as one of the best MBA programs for entrepreneurship over the last 25 years. It offers full-time as well as part-time MBA in both online and offline modes.
- Full-Time MBA: Average work experience is 5 years, option to choose from1 or 2 years format.
- Part-Time MBA: Suitable for working professionals, average work experience is 5-10 years, duration is self-paced.
Highlights:
- 1/3rd of the program consists of the core modules, whereas 2/3rd curriculum can be chosen by you from the available market-aligned electives.
- Students get a chance to participate in consulting projects across 80+ organizations every year.
See this video for some inspiration.
https://www.youtube.com/watch?v=Qm9JQMOxQzg
Situated right in the heart of silicon valley, it offers a unique MBA program that can redefine your business school experience. It offers a full-time MBA program and some online business courses as well.
- Full-Time MBA: 2 years full-time residential MBA program.
- Online Business Courses: Flagship, Live, and self-paced online business courses are available for individuals as well as organizations.
Highlights:
- Offers best-in-class faculty and a challenging work environment.
- Collaboration and not competition is the key at Standford. You get to work closely with students from different countries and backgrounds.
- Allows you to create a personalized dashboard at MyStandford.MBA where you can track your application, receive admission tips, recommendations, and other relevant materials.
Watch this video where I interview one of our rockstars admits to Stanford as he shares his insights.
https://www.youtube.com/watch?v=7RcKsKJHHww
MIT Sloan is the business school of the prestigious Massachusetts Institute of Technology, situated in Cambridge. It offers a full-time MBA program and executive MBA for working professionals.
- Full-Time MBA: 2-year full-time MBA (Entrepreneurship track)
- Executive MBA: 20-months curriculum including weekend sessions.
Highlights:
- The invention is the focus at MIT Sloan to deliver effective solutions for a promising future.
- Faculty members are practitioners from the industry, providing one-on-one coaching.
- Offers an opportunity to interact and work with students from diversified backgrounds, enriching your learning experience.
See this success story video on how one of our applicants got into MIT Sloan
https://www.youtube.com/watch?v=ewQKGO-0ZgE&t=41s
Berkeley HAAS is one of the leading institutes for the study and practice of entrepreneurship in the world. It offers a full-time MBA and executive MBA programs.
- Full-Time MBA: 2-year full-time residential MBA program in Entrepreneurship.
- Executive MBA: 22-months program for working professionals.
Highlights:
- It offers a learning environment where you get to solve real-world problems through hands-on projects and experiential learning.
- The learning is focused globally through diverse experience sharing, case competitions, and interaction with international students.
- Smaller class size for a tailored learning experience.
HBS is another world-class institution where you can become a part of the global community for lifelong learning and career support. It offers a full-time MBA program and online courses as well.
- Full-Time MBA: 2-year full-time residential MBA program in Entrepreneurship.
- Online Courses: Online certificate courses in Entrepreneurship and Innovation, spanning over 6-7 weeks.
Highlights:
- Offers a dynamic learning environment through case method courses, FIELD projects, tech simulations, and introspective exercises.
- Smaller sections for tight-knit support and interest-based students club are available for a unique learning experience.
- Offers global exposure with 37% international students from 65 countries.
Watch this video on how to crack HBS
https://www.youtube.com/watch?v=Z_9W9ZQ9Who
How to Choose a Suitable MBA (Entrepreneurship) Program?
- Make sure to study the curriculum offered by the institutes to find out whether it aligns with your career goals.
- Most programs require prior work experience. Pick the programs that call for a similar experience and background as yours.
- If you are a working professional, a part-time MBA is a better choice for you. Most of the top institutes offer executive/part-time or online MBA programs that can match your requirements.
- Finally, you must check the ranking of the institutes you are planning to apply to. A higher-rank institute can offer you better learning prospects and job opportunities.
Acquiring Real-World Business Competencies with an MBA Program
Entrepreneurship is not just about setting up a new business but the implementation of an innovative idea and working towards making it a profitable venture. Hence, developing business competencies through hands-on experience and real-life projects during MBA (Entrepreneurship) is beneficial to young entrepreneurs looking for incubation opportunities.
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