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Entrepreneurship or MBA?

It’s an age old question: do you get yourself an MBA or take the money you would have spent on studies and launch your own company. Many people study an MBA to further their career however it seems to be a growing trend to get an MBA to help further your entrepreneurial career. There are some great points to consider in terms of benefits:

  1. You get a great network
  2. You learn patience and the ability to finish something that many could not manage
  3. A good entrepreneur should always be learning something new

An MBA should theoretically unlock your entrepreneurial skills as well as advance your knowledge. Ultimately we’re in a world where jobs should be created by business and not government so it’s important to incubate these skills. S0me other great thoughts on the matter:

MBA entreprepreneurs get crucial guidance and support from highly motivated and intelligent people. They also find in their classmates like-minded partners and co-founders who bring much value to a startup, not to mention direct access to serial entrepreneurs who as permanent faculty or executives-in-residence are eager to mentor young people through the process. And finally most schools today have formal programs that often provide seed capital to get a company up and running before you use the school’s alumni network for more capital or customers.

 

Surveys of MBA graduates show that the vast majority believe their education was vital to the success of their startups. Nine out of ten believe that an MBA helped them lead their companies, grow their businesses and develop their ideas. Some 86% of MBA entrepreneurs feel that their education helped them develop financial projections for their businesses and 81% thought that an MBA helped them write a more compelling business plan.

Personally all I wanted to do when studying was to start a business however going to business school was one of the best choices I’ve made in ages. While I’m no MBA graduate it makes perfect sense to study in order to get ahead of other entrepreneurs in the market.

There are some more points and a longer explanation in the original article available here.

One thought on “Entrepreneurship or MBA?

  1. Interesting article:

    Accreditation and media rankings key criteria for GIBS MBAs, survey reveals. GIBS MBAs command higher post-graduation salaries than graduates from other business schools.

    22 February 2013

    The University of Pretoria’s Gordon Institute of Business Science (GIBS) MBA students ranked the following as the most important aspects when selecting a business school according to the latest Universum Student Survey 2012/13.

    • Business school ratings/rankings in the media;
    • Accreditation of the institution (nationally and internationally);
    • Good reputation in the business community;
    • Working relationship with the corporate world; and
    • Exchange programme / business school studies abroad.

    Among the business schools surveyed, GIBS rated higher for satisfaction overall at 4.5 against 4.2 of other schools surveyed, with 100% of the GIBS students taking part in the survey saying that they would recommend the business school to others.

    Included in the key findings of the survey, the average expected salary before taxes (excluding commission and bonus) after graduation of a GIBS MBA student was R1 016 405 compared to R879 637 for graduates of other institutions. The preferred industries for GIBS MBA graduates included management consulting, financial services and investment banking.

    Other notable highlights were:

    94% of the students surveyed said that they were satisfied/very satisfied with the business school’s lecturers;
    95% were satisfied/very satisfied with the choice of courses;
    97% were satisfied/very satisfied with the reputation of the school;
    96% were satisfied/very satisfied with the environment of the business school;
    93% were satisfied/very satisfied with the business school’s contacts with the business community; and
    97% were satisfied/very satisfied with the quality of education.

    The top career goals of GIBS graduates surveyed were to be:

    • competitively or intellectually challenged;
    • To be a leader/manager of people; and
    • To be entrepreneurial or creative / innovative.

    The preferred industries for MBA students of other institutions included management consulting, financial services and telecommunications, while the top university experience was the reputation of the university / business school, the quality of the education and the choice of courses.

    Publication: GIBS News
    Category: About GIBS, Education and Skills

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