How can MBA assist you to grow successful entrepreneurs?

In this day and age, a standard shift is commanding in the business industry. Some of the skilled businessmen are aiming for things that are a little higher and especially new. To create a fresh idea and establish it all together, one needs to become an unmatched entrepreneur. The concept of entrepreneurship dates back to the 1920s but interestingly, the word ‘entrepreneur’ is way older than the concept itself. It was in the 1760s that a French dictionary mentioned the word ‘entreprendre’ which meant ‘offer’, but it didn’t gain popularity until Jean-Baptiste Say minted the word ‘entrepreneur’ in the nineteenth century. As of now, the term, as well as the concept, has widely spread across.

Merriam-Webster defines an entrepreneur as “a person who starts a business and is willing to risk a loss to make money.” Similarly, the whole process of doing so becomes entrepreneurship. To express it more simply, the whole process of starting a new business from a mark is known as entrepreneurship. Now, there are many features connected with this concept. While some assume that entrepreneurship is natural, others believe that it can be earned.

Assuredly, there is no doubt that those who run the family business, have more affinity towards business but that doesn’t make them entrepreneurs. Those who build their own new businesses with fresh ideas fit right for being entrepreneurs. According to a report by the Entrepreneurship Development Institute (EDI) of India, only 11% of the total population is employed in entrepreneurial activities. Adding further to the report, it says that only about 5% of those endure running a business for a longer period. The data states that India is lagging in the race of giving more entrepreneurs whereas Brazil leads the race with 17%. The underlying reason for the above-mentioned scenario is unawareness and wrong academic choices.

After the year 1991, countless business schools came into existence. Now, there are hundreds and thousands of Business schools in India, but only a few can meet up to the standards. Definitely, you deserve the best and you have to search for it. Business schools have managed to add courses related to entrepreneurship. With the escalating number of Business schools, more and more possibility of a trade is being provided to the students. MBA is one such stream that has many benefits. Today, the Business schools include subjects and courses in the MBA syllabus which have proved to be of superior importance while shaping well-known entrepreneurs of tomorrow. Some of the first-rated businessmen are the product of the finest business schools. So, there is a large contribution of business schools in modeling the business leaders and if you aim to become one, you can rely upon them.

From academic documents to rankings and awards, one can classify colleges in many ways. But there are some focus facilities which business schools with excellence provide and these facilities are mentioned hereafter:

Providing leadership skills

An entrepreneur is just like a leader. Consequently, the business schools make sure that they pinpoint those areas with which the students can set up their leadership skills. These skills can’t only be polished by theoretical aspects of the field; to lead the crowd, one must have his/her hands-on experience as well. So, impress the quality of leadership the institutes make group competitions where the groups are leaded by those who desire to become entrepreneurs. This way, the students not only recognize their potential but get an idea of how much competition is common in the field.

Familiarizing with the industry aims

As students are still in the learning stage, it becomes the responsibility of the management institutes to make them well-acquainted with the current trends of the industry. Also, if some sectors can offer great success but have not been drawn into yet, the institute can help the students to conduct worthwhile research and experiments on the chances of establishing a business in the same domain.

Sustaining innovative ideas

The modern world is prepared with demands for innovative ideas. The ideas and innovations today are so dynamic that within a short span of time they tend to get former. So, by unlocking fiction and fresh ideas, the students not only start an eminent business but also register for a successful future. It is the role of business schools, firstly, to provide the platform which can promote these ideas. Secondly, it is also part of B schools' roles to evaluate the ideas and guide the students on how to bring those ideas to life. Some of the prestigious institutes conduct activities through the evolution centers where they fund extraordinary ideas and DBGI Dehradun is one of them.

Entrepreneurial activities

The business schools help the students by delivering light on different functions of the entrepreneurs. The whole activities which are to be carried out by them in the future are explained already by the institutes. These activities include:

Raising Money

To create something from passion, a lot of resources are required. These resources include manpower, raw material, capital, and machinery. Arranging these all, obviously, requires money. Now, different sources can finance the business but only if you fling them right. Here, the institute is responsible to explain the whole process with which the students would be able to raise money from different sources such as Angel Investors, Business Incubators, and Venture Capital, etc.

Problem-solving

Life and business both rise in the aspect of problem-solving capabilities. Similarly, a new business would require this feature too. With the entrepreneur being the head of all, he is only responsible for finding satisfactory solutions. If an entrepreneur has in-depth knowledge of all the activities, he/she can easily cope up with the problems. The responsibility of preparing confident and smart business leaders also lies with Business schools.

Decision making

Assuredly, the decisions have to be taken by the leader. Different tasks, different decisions, and different choices. Now, decisions include financial, strategic, operational, and many more. Here, the role of the institute is to give one an overview of how you can make the right decisions with full confidence.

Training

After fully imputing out the details of what an entrepreneur does, the colleges are responsible for giving thorough training to the students. Placement cells in different institutes organize different training programs to give the typical features of the trade. Dev Bhoomi Group of Institutions is one of the best management colleges in Dehradun, Uttarakhand which has helped the students with various training programs. Under the head of a 360-degree training program, it provides support to many students who want to top the tables in any sphere they go to. Moreover, the institute has the Innovation & Entrepreneurship Development Center (IEDC) which provides all the support for being a successful entrepreneur.

From the above-mentioned roles of the Business schools, it gets obvious that to become a class-apart leader, and one needs to get registered in the best MBA college. With the rise in globalization, new and challenging jobs are coming to the lead. Although these jobs demand a lot of effort, their return is very high. So, if you aspire to build in the business industry by becoming an unmatched entrepreneur, you are just a decision away. Choose the right MBA college and write your own success story.