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An MBA Degree Does Not Guarantee Entrepreneurial Success

An MBA Degree Does Not Guarantee Entrepreneurial Success

Edited By Aditi Narendra | Updated on Aug 21, 2023 09:00 AM IST | #MBA

When you plan to do an MBA a lot of questions pop in your mind. Will MBA give you a successful career ahead? Will you become the next Narayan Murthy and RatanTata of the business world?

If you think your MBA qualification is the ultimate pathway to becoming a successful entrepreneur you need to rethink and revisit that thought. An MBA programme does not guarantee an entrepreneurial journey. MBA simply trains you to be a better manager, someone who can sense, observe and make relevant and measured changes for a product or an organisation to prosper. Business tycoons like Gautam Adani and Dhirubhai Ambani never went to a Bschool but they have unmatched business acumen. An MBA might teach the theoretical aspects of business, but it can’t teach you decisions you must take to have a successful business.

If a good salary package, comfortable lifestyle, and higher designation are your goals, an MBA from a premiere institute can satiate your hunger. But, it is definitely not a blueprint on how to set up a start-up. And here’s why:

Most Entrepreneurs Don’t Have A MBA Degree

Out of the 16 top startups in India that you find on Google, eight of them like Cred, Groww, and Mama Earth were started by people who didn't do an MBA. They came from different backgrounds but still built successful companies. People who start businesses and do well don't always need an MBA degree. It's evident that entrepreneurial success can come from various paths, not just from getting an MBA.

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Expensive Affair

If your end goal is to become an entrepreneur, MBA might be a heavy deal for you. The average fees of the top B-schools in India range between Rs 10 Lakh to Rs 23 Lakh. It becomes tough for students to finance themselves in this situation. Most MBA aspirants have to take a loan to study in these premier institutes. This financial help pushes them into a vicious circle of doing a regular corporate job to repay the loan. Entrepreneurship is not textual, but a practical skill. It cannot be learned by memorising but sharpened by practical experience. Spending so much on a course to become an entrepreneur is not a wise option.

Managerial Course, Not An Entrepreneurial Course

The curriculum of a B-school includes courses like Managerial Economics, Accounting for Management, Business Communication, and Information Technology Management. These courses mostly cover the most managerial aspect of business. The curriculum does not teach the students the entrepreneurial aspect of business. Even if it has some electives covering aspects of it, it is mostly theoretical. The skill of entrepreneurship cannot be grasped through theoretical knowledge.

Stereotypical Case Studies Based Learning

The curriculum of an MBA programme relies heavily on learning management skills via case studies. Case studies teach students managerial decisions to be taken in hypothetical situations. The case study sessions involve discussions on corporate strategies devised by established companies. Entrepreneurship involves navigating through uncertain scenarios. The fixed solutions offered by case studies might not effectively prepare aspiring entrepreneurs for the dynamic and unpredictable challenges they will face.

Entrepreneurship Is Practical Not A Theoretical Concept

The curriculum of the MBA programme guides students through the theoretical concepts of running a business. These courses give valuable insights into certain aspects of business management. However, these do not prepare aspiring entrepreneurs for the practical aspects of running a business. Entrepreneurship is an inherently practical skill that demands taking action, making decisions, and learning from failures and successes.

Limits Thinking And Disrupts Innovation

An MBA degree teaches you to be compliant. The curriculum is loosely designed to make business administrators and managers for the future. Consequently, it teaches the students to follow a rigid set of rules to follow a definite process in a certain situation. Entrepreneurship on the other hand encourages people to be a risk taker. It appreciates innovation and having a broader perspective on things. The narrow approach of a business school makes its students a misfit for the entrepreneurial journey.

IIMs are the premiere institute for providing business insights to students. Yet surprisingly, technological institutes like the IITs have produced some of the best ITpreneurs.

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Why do IITs Sees More Entrepreneurs Than IIMs?

IIT fosters creativity in the minds of its students, while IIMs guide students through paths to run a business. IIT grads are used to taking risks and innovating. On the other hand, IIM grads learn and innovate from case studies of businesses that already exist. Where is the room for knowing if their ideas or solutions are going to work or fail?

The fact that IIT students typically graduate at a younger age with lesser financial burdens cannot be ignored. The lower financial pressure and lack of societal obligations enable them to experiment and learn from their mistakes. IIM students comparatively have a lower appetite to risk taking.

MBA Is Not A Useless Degree

Having said all of the above, an MBA degree is not useless. Being one of the most coveted qualifications it helps students to develop keen understanding for business, inculcate leadership skills, and an acumen for networking. It also gives a basic overview of the financial, marketing, and strategy, the operational aspect of corporate life. It is easier for an employee to climb up the ladder of designations after earning such a degree. Critical thinking, time management, and problem-solving are other important skills students learn in a B-school.

Having said that, starting a business needs hands-on experience, taking risks, and being flexible – things MBA might not teach well. The unique challenges of startups demand an out of box mindset that often requires additional experiences, learning, and exposure beyond the classroom.

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Questions related to MBA

Have a question related to MBA ?

Yes, you can pursue an MBA in Telangana after taking MAH CET (Maharashtra Common Entrance Test), but there are a few points to consider:

1. MAH CET Scores:

- MAH CET is primarily used for MBA admissions in Maharashtra. While some institutions in Telangana may accept MAH CET scores, it is not the standard entrance test for most colleges in Telangana.

2. Entrance Exams for Telangana:

- Most MBA programs in Telangana typically require scores from the Telangana State Integrated Common Entrance Test (TS ICET) or other national tests like CAT, MAT, or GMAT.

- You should check the specific requirements of the MBA colleges in Telangana you're interested in to see if they accept MAH CET scores.

3. Application Process:

- If the colleges you’re interested in accept MAH CET scores, you should check their application deadlines and procedures.

- It’s also a good idea to visit the college websites or contact their admission offices for the most accurate and up-to-date information.

If you’re set on studying in Telangana, you might also want to consider taking TS ICET or another relevant exam to increase your chances of admission.

Hello aspirant,

Amity University, Noida offers a two-year full-time postgraduate Master of Business Administration (MBA) programme in fashion management.

Generally the fees for MBBS programme in Amity Noida is around 7.5 lakh.

To know more information you can visit our website by clicking on the link given below.

Thank you

Hope this information helps you.

Hello aspirant,

Exams for top MBA programmes in 2024, including CAT, XAT, MAT, SNAP, IBSAT, CMAT, and others, will be held from November 2024 to April 2025. From February to May 2024, other top state-level MBA entrance tests were held, including the MAH-CET, AP ICET, TS ICET, OJEE, KMAT and GMAT, MAT, ATMA, and others. Notification for the CAT, one of the most renowned MBA entrance exams, will be sent out in the final week of July 2024. The exam is scheduled for November 24.

For more information you can visit our website by clicking on the link given below.

Thank you

Hope this information helps you.

Choosing an online MBA program that fits your budget and offers quality education involves considering various factors. Some top online MBA programs that are known for being both high-quality and affordable are:

University of Illinois at Urbana-Champaign (Gies College of Business)

  • Program: iMBA
  • Cost: Approximately $22,000
  • Highlights: Highly regarded for its quality and affordability, strong alumni network, flexible learning options.
  • Indiana University (Kelley School of Business)

    • Program: Kelley Direct Online MBA
    • Cost: Approximately $74,520
    • Highlights: Excellent reputation, high-quality curriculum, strong career services.
  • University of North Carolina at Chapel Hill (Kenan-Flagler Business School)

    • Program: MBA@UNC
    • Cost: Approximately $125,589
    • Highlights: Highly ranked program, strong networking opportunities, rigorous curriculum.
  • Arizona State University (W. P. Carey School of Business)

    • Program: Online MBA
    • Cost: Approximately $61,320
    • Highlights: Known for innovation, strong support services, flexible course delivery.
  • University of Florida (Warrington College of Business)

Hello student,

Here are some of the best and budget-friendly online MBA programs you can consider in 2024:

1) IGNOU (Indira Gandhi National Open University)

  • Cost: Approximately Rs.37,800 for the entire program
  • Features: Reputed university, flexible learning schedule, and wide recognition.

2) Symbiosis Centre for Distance Learning (SCDL)

  • Cost: Approximately Rs.50,000 to 60,000
  • Features: Good industry connections, flexible learning, and diverse specializations.

3) Amity University Online

  • Cost: Approximately Rs.1,50,000 to 2,00,000
  • Features: Interactive learning platform, global recognition, and industry-oriented curriculum.

4) NMIMS Global Access School for Continuing Education

  • Cost: Approximately Rs.1,20,000 to 1,50,000
  • Features: High-quality education, strong alumni network, and career support services.

5) Manipal University Online

  • Cost: Approximately Rs.1,50,000
  • Features: Experienced faculty, flexible learning, and strong placement assistance.

6) ICFAI University (Flexible Learning)

  • Cost: Approximately Rs.65,000 to 75,000
  • Features: Comprehensive curriculum, flexible learning options, and good recognition.

When choosing an online MBA program, consider factors like accreditation, curriculum, faculty, industry connections, flexibility, and placement support.

I hope this answer helps you. If you have more queries then feel free to share your questions with us we will be happy to assist you.

Thank you and wishing you all the best for your bright future.

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