The MBA: Is It Just as Valuable for the Entrepreneur as for the Management-Level Employee?
Traditionally an MBA education led to managerial level positions in the corporate environment, however in recent years significant changes have occurred in the dynamics of the business environment. As a result many individuals are planning to run their own business instead of working for another once education is completed.
Whether or not an MBA is a necessity for entrepreneurs is an oft debated topic. Many highly successful business owners do not have an MBA, however the benefits the degree can offer an individual in any leadership capacity are hard to deny.
Multifaceted Skills
The skills needed for management level employees and the entrepreneur are diverse. An MBA education exposes students to a broad range of business issues and problems which need solutions. Through various areas of coursework students learn to how to strategize, analyze, expand quantitative skills, grow leadership skills, and receive exposure to technology tools used in the modern business environment.
Entrepreneurial Needs
While many of the multifaceted skills needed for management level jobs and the entrepreneur are similar, there are some additional ways an MBA holds value for the independent industrialist. Since a business owner is not focused on a single department, the versatile knowledge obtained in an MBA program exposes the entrepreneur to all business concepts they'll need to run their own operation. A major component of many MBA programs is a capstone for the student to conclude their learning by writing a business plan for their own startup; this is invaluable experience to prepare for the real thing.
Entrepreneur and the MBA
Emily McHugh, owner of Casauri, a maker of fashionable laptop cases and an MBA graduate, writes "Having an MBA is not a pre-requisite to becoming an entrepreneur, nor does having an MBA guarantee or improve your chances for success. However, the MBA teaches important business principles."
Today's career opportunities are changing in an evolving job market and many individuals are looking to become their own boss. An MBA education removes some of the mystery and provides entrepreneurs the knowledge needed to take an idea and bring it to fruition. While some of the instinctive skills necessary for entrepreneurship perhaps cannot be taught, the tools needed to analyze, strategize, organize and plan the various aspects of a startup can be learned in MBA programs.
