Why New Age Startups are Looking for B-school Students
An MBA degree teaches business management, planning and financial handling. These skills help in managing the business effectively while contributing to the economic development of the country. Arihant Jain, Chief Executive Officer at AIC-JK Lakshmipat University speaks about why new-age start-up companies are looking for b-school students. He states that in today’s uncommon times, the b-school graduates look for jobs that will give them leadership roles, provide them with enough scope to learn and earn well. An MBA degree is the only generalist business management degree that stays relevant even after 100 years. The reports of the AICTE in 2018-19 shows that India has seen a rise in MBA applicants across the world with the current intake for MBA programmes in India being 3,72,579 students.
What is MBA?
In order to give a scientific approach to the management in the early 1900s, the Harvard Business School established the first MBA programme in 1908 and in India, the first MBA course was launched in XLRI n 1949 and after a gap of two years, the first IIM Calcutta was founded in 1961. As the MBA gained worldwide acceptance and the Industrial Era reached its peak, something changed. The world expanded and people started working on ideas that were new and had no legacy like large corporations or the MBA itself. MBAs are all about getting better jobs, building a network and gaining exposure to important business concepts — strategy, operations, marketing and finance.
Here is why new-age start-ups are looking for B-School students:
B-schools prepare students to deal with the business environment, and new-age b-schools who are training students for a more volatile business environment are directly or indirectly training students with an entrepreneurship mindset is why new-age startups are looking for b-school students. This mindset helps new graduates to take challenges head-on which is offered by new-age startups.
b-school education is becoming more and more expensive as this is treated as a terminal degree for building a good career, this pushes students to take an education loan and more financial liability by the time they graduate. One more reason as to why new-age startups are looking for b-school students is to deal with this liability they are looking for quick returns on their MBA degree, given the funded startups have the potential to pay good candidates a good amount financially, these startups are becoming preferred choices.
In current time boundaries between various fields like marketing, finance, HR and others are getting blurred, leaders are trained to execute all of these. B-schools are also catching up with the industry requirement in which they are training students with this mindset through case studies, live projects, and more. Start-ups provide similar opportunities to them in work environments.
Our surrounding environment also defines and influences these choices. Today everyone talks about startups from govt to private corporations, media to b-school curriculum, old business giants like TATAs, Reliance, and more all are jumping in the wave of entrepreneurship. This has made the ecosystem more attractive for new graduates.
There is also a work-environment shift, startups are considered youth-friendly, chill places to work at, compared to standard corporates that follow a 9 to 5 work culture. Startups are perceived as more flexible and accommodating of personal preferences and on some level they are such.
Newly funded startups are a haven for change, energy and enthusiasm which attracts new graduates, as they also provide the opportunity for them to make their mark as early in their career as they can with their hard work.
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