The Industrial policy of 1970s onwards was heavily focused on the small enterprise, because it was clear that the solution to a healthy economy is not a few Ambanis, Tatas and Birlas, but rather the small business owners who're in millions across the nation. Thus, entrepreneurship slowly developed as a culture in India. Now, anyone can start a business but it needs a leader to be truly successful, which is how MBA in Entrepreneurship comes in the picture.
This MBA programme will help students avoid many of the most common mistakes often experienced by new entrepreneurs when starting and running businesses. Students will learn a multitude of critical business skills, including the methods of coping with the uncertainties of the business world, the organizational strategies necessary to companies and the tactics of investing.
The MBA in Entrepreneurship moulds the students into the leaders of tomorrow.
Students often fear entrepreneurship, due to lack of a ready business idea. However, generating ideas is as simple as making a coffee. Don't focus on the idea, instead focus on a widespread social or personal PROBLEM. Think about problems that certain category of people face, like young adults, working women, teenagers, senior citizens, children, students, doctors, teachers, engineers, etc. Now think of a solution to this problem. This solution is your IDEA! Whether Flipkart, Ola, Oyo, Blinkit or any other enterprise, one thing is common: they solve a problem each.
Electricity bills too high? Life detection sensors and automatic switches is a business idea!
Too much sweet and oily content in children's diet? Jaggery chocolates is a business idea!
Too much time and fuel wasted in traffic? Car/bike pooling app is a great business idea!
You may not have an idea, but you do know a solveable problem, don't you? That's it, that's your idea!
Then on, you need to consider the business model, the target audience, the marketing strategy, the funding, the team, the product/service development and so on, but with a ready business idea, a good start is half work done, as they say.
MBA in Entrepreneurship is designed to equip students with the requisite skills, knowledge, and networks needed to become entrepreneurs and innovators. The program builds in students the ability to create business ideas, pitch these ideas to investors (like we see in the TV programme Shark Tank), develop these ideas into product and service offerings, and then design a commercial venture to take business ideas to the market.
The real strength of an MBA in Entrepreneurship lies in the understanding of the way entrepreneurs live their lives. They're encouraged to be masters of their own lives, and this pushes their spirit towards the path of self fulfillment through entrepreneurship. They're motivated to set up their own business with their own business idea, or their own unique formula.
