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How will an MBA help you to be a successful entrepreneur?

People who want to become entrepreneurs often choose to study for an MBA degree. The wide range of courses in business schools is designed to make the MBA graduate competent in micro and macroeconomics, finance, accounting, marketing, human resources, etc. These subjects are aimed at acquiring the general skills needed in business. Having an understanding of the overall economic picture and the ability to decipher important statistical data and the behaviour of other players in the economy makes all the difference in today’s world. Judging the correct timing for expanding or consolidating and knowing how to change your actions is an art that usually comes with experience, but its foundations can be laid in education.

Many business schools focus on entrepreneurship, both in the traditional business sense and in the meaning of social entrepreneurship. Wharton School of the University of Pennsylvania is amongst the top places that concentrate on the former. Its Sol C. Snider Entrepreneurial Research Centre studies the various aspects and the latest trends in entrepreneurship. MBA courses with this focus emphasise the launch and development of start-ups and the many elements and dimensions of new ventures.

A powerful trend currently gaining momentum in MBA courses is the increasing significance of social entrepreneurship and social enterprise. US names in this area include Duke and Stanford GSB. Following reconsideration of the ethical relevance of the MBA degree, courses linked to issues such as the role of business in society, corporate social responsibility and climate change are becoming more popular. In 2011 the University of Exeter Business School will launch its One Planet MBA in collaboration with WWF: a course dedicated to combining the concepts of business growth and environmental sustainable development. Taking the time to refine yourself as a leader, gather knowledge and reflect on the various concepts of leadership is important for the subsequent application of your managerial skills. A quality MBA degree will acquaint you with basic business principles and strategies, the way organizations operate, the main functions in a company and the latest academic trends in the management discipline.

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