Universities offer students studying business in graduate school a variety of Master of Business Administration concentration options. One of these options is a specialization in entrepreneurship. This program is particularly appropriate for students who are interested in building and managing their own businesses or collaborating with others to start a new businesses.
Prepares Graduates to Run Organizations
An MBA program in entrepreneurship prepares students to raise money, manage investments and start and operate their own businesses and organizations, such as limited liability companies, corporations and nonprofits. It offers students a unique combination of entrepreneurship-related coursework, which includes hands-on experience developing business ideas through collaboration with their peers and opportunities to make connections with angel investors at MBA program-run seminars and conferences. These opportunities prepare graduates to lead organizations as they go through all of the early stages of the business formation in a safe, intimate and collaborative environment.
Offers Many Entrepreneurship-related Courses
While all MBA programs offer students a variety of applied business courses that prepare them for their future professional lives, an entrepreneurship concentration also provides a variety of courses within a particular area of interest. Requirements vary across programs, but most MBA programs with concentrations in entrepreneurship offer courses in private equity, venture capital, entrepreneur strategies, mergers and acquisitions, and global strategies. These courses teach students a number of crucial business skills, including the tactics of investing, the organizational strategies needed to run companies and methods of coping with the uncertainties of the business world.
Gives Students Hands-on Experience
Another benefit of an MBA program in entrepreneurship is the opportunity to get hands-on learning experience. These experiences are often tied to coursework and require students to collaborate with their classmates on projects. In addition to allowing students the opportunity to test and improve their leadership skills in a safe classroom environment, this MBA concentration also shows students how to identify and assess business opportunities, find new ventures, develop sound business plans and practice their entrepreneurship skills in a variety of mock contexts. These experiences help students avoid common mistakes of starting and running businesses.
Opportunity to Make Connections
An important goal of an MBA with a concentration in entrepreneurship is to introduce students to other people who are interested in starting businesses or who are already running their own successful businesses. Many MBA programs run seminars, giving their students access to important people in the field. Furthermore, the collaborative project-based nature of the MBA program also allows students to make connections and develop long-term professional relationships with their classmates. Many graduates go on to start businesses with people who they have met in the program.
Kate Prudchenko has been a writer and editor for five years, publishing peer-reviewed articles, essays, and book chapters in a variety of publications including Immersive Environments: Future Trends in Education and Contemporary Literary Review India. She has a BA and MS in Mathematics, MA in English/Writing, and is completing a PhD in Education.