Top specialisation: MBA in Entrepreneurship

As the world debates on MBA or Entrepreneurship, few business schools have gone ahead and introduced MBA in Entrepreneurship programme. Needless to say the programme is widely debated with many questioning what extra can a B-school teach that a would-be entrepreneur can’t learn while running the business.

MBA in Entrepreneurship programme focuses on various aspects of business – right from how to start a company, creating a good product for market and how to grow a company.

Most new entrepreneurs work in a resource-constrained environment. One needs to manage various aspects of the business at one time such as marketing, operations, strategy, pricing, product development, execution and finance. This programme helps in dealing with such constraints in an effective manner.

In India, various B-schools offer courses related to entrepreneurships. While some courses are fulltime two-year or one-year programmes while some are short duration programmes. The short-duration courses are mostly tailored to suit certain requirements such as Management Programme for Women Entrepreneurs, etc.

There are largely two categories of entrepreneurship programmes offered in India:

• Entrepreneurship
• Family and Business entrepreneurship

Here’s a detailed account of the programmes:

Entrepreneurship

As discussed above, this particular programme deals with various aspects of running a business – right from the stage of conceptualisation, incubating, funding to the later stages of growing a business. The idea is to propel a new breed of wannabe entrepreneurs with the right set of skillsets. The skillsets mitigate risks and gives the much-required technical know-how, financial and marketing knowledge.

According to TopMba, MBA in Entrepreneurship is the second most popular management specialization of the world (2013 data). The sudden popularity of this specialisation can be attributed to various success stories of start-ups across the world.

MBA in entrepreneurship helps a budding entrepreneur student understand the basics of how to make a business successful and provides the necessary foundation, framework and network. "We teach our students the critical skills to run their own businesses and arm them with a knowledge base to help them," says Emily Cieri, Director of the Wharton Entrepreneurial Programs (WEP) at the Wharton School, University of Pennsylvania to TopMba.

Though entrepreneurship is about innovation and great idea, an MBA in entrepreneurship will give a candidate the perfect skills to make that idea a resounding success.

In India, many B-Schools do not have a specific MBA (Entrepreneurship) degree but are well-known for their entrepreneurship cell:

• Indian Institute of Management, Ahmedabad
• Indian Institute of Management, Bangalore
• Indian Institute of Management, Calcutta
• Indian School of Business, Hyderabad
• S P Jain Institute of Management and Research
• NMIMS, Mumbai

Family and Business Entrepreneurship

More than 67% businesses are family run in India. Family-managed businesses have their own set of challenges and issues. How will the next generation be able to carry the business forward efficiently?  How will they measure up to the ever changing market dynamics and new competitors? These are just some of the issues that an MBA in Family and Business entrepreneurship programme focuses on.

This course deals with issues and problems in family businesses, helping students learn to deal with complex structures, hierarchy, business governance and introducing changes as per latest market trends.

Top colleges offering MBA in Family and Business Entrepreneurship

Eligibility

The eligibility criteria in most Indian business schools are:

• Graduation degree
• Management entrance scores (such as CAT, CMAT, GMAT, XAT, etc)

Some B-Schools also admit students on the basis of their academic profiles and work experience.

Course Syllabus

• Entrepreneurial Finance
• Entrepreneurial Strategy
• Project Development and Management
• Business Plan & Ethics
• Sustaining a startup
• Family Managed Business
• Leadership Development
• Micro and Macro Economics
• New Venture
• Creating Entrepreneurial Venture
• Government Laws and Social Responsibilty
• Product design and marketing
• Generating new startup and venture ideas
• Financing, managing, and marketing new ventures
• Venture capital
• Entrepreneurial strategies
• Social innovation and entrepreneurship
  
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