| Master
Key |
How to become an Entrepreneur
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WHAT THEY DON`T
TEACH YOU AT B-SCHOOL
Business Standard
An MBA instils the correct mindset in an individual to handle
corporate life better. It creates an attitude that helps in
handling situations, a strategic outlook to business and depth
of knowledge through case studies and live examples.
During an MBA programme, all five senses
are exposed to learning to springboard the student to a challenging
corporate life.
The collective depth of knowledge from lecturers
and visiting faculty is transferred; in other words, the life
experiences of others are compressed and the best given to
the student. Lifelong good habits, too, are ingrained, such
as reading, interacting with various kinds of people and so
on.
However, even the best of education cannot
teach you what real life is about. Sensitive issues such as
handling people, their emotions and what drives them to excellence
are not taught, and can never be taught.
How to motivate and constantly challenge
the team with new tasks, how to retain talent and negotiate
with people are not taught in B-schools. As the world changes,
so do market dynamics and technology. These are the basics
that create a lasting impact on business. An MBA degree cannot
fill this gap.
An MBA degree also does not encourage a student
to become an entrepreneur. There are no specific subjects
that are taught to students who want to start out on their
own.
However, of late, institutes have actively
started encouraging their students to take up entrepreneurship
projects and if, by chance, they don’t succeed, the
institute guarantees them placement two years later. I think
such initiatives should be applauded.
This ensures that the bright talent is not
just limited to the corporate world, but can also be successful
in individual entrepreneurial endeavours.
What is needed in the curriculum, given the
way India is going strong globally, is an emphasis on doing
international business as well as on entrepreneurship.
Little details that help future entrepreneurs
get a quick start in founding their companies, such as writing
a business plan, raising capital and so on, should be taught.
A perspective on things to consider while
going for M&As, increased experimental teaching with active
case studies, role enactment, involved internship programme
and so on could also be beneficial.
That said, I would still recommend an MBA
degree to all young students as it will help them appreciate
the nuances of business better and probably make more informed
decisions.
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