Are you planning to join your father’s business or start your own business? Do you think that you don’t require an MBA degree for this? Well this article can solve your problem
This is a general misconception among people that management courses only helps in getting a job and that if you want to start your own business or join your father’s you don’t require an MBA degree for that. Following are the reasons why you need to go for a management course
Improving the general administration of your business – Being the owner of your business you have to take care of all the departments’ right from marketing and human resources to finance and operations. MBA not only specialize you in one field but also gives you a general idea of all the fields in a business. Once you have knowledge of all the departments you can easily monitor and no one can fool you easily.
Personality Development – MBA helps in grooming your personality so as to make you ready for the corporate world. Since you will be the face of your company, the kind of impression you give to the clients will be the impression of your company. That is why it is very important for you to know how to greet a client, how to behave in corporate dinners, how to behave in a meeting and many other things for which management courses train you
Case Studies and Role Play – Many management colleges include case studies and role play as a part of their curriculum. Case study helps in understanding the functioning of various fields of MBA in real world by the live examples of success and failure stories of big corporate houses. Similarly role play exercises and strategic games put you in the position of a manager and give you various situations that one has to face while running a business. What is better than gaining the experience of running a business without risking your money?
Networking – The continuous industry interactions, live projects and industry training helps you to increase your networks. This is very much helpful at the later stage when you are running your own business
Corporate Experience – Generally most of the people do MBA so as to gain corporate experience by either doing a job for a year after MBA or during industry training for three months while their course is going on. The main notion behind this is that one cannot manage something until and unless he knows how to do that thing. One cannot become the captain of a cricket team without playing cricket as a team member.
Maturity – Last but not the least MBA brings in you a kind of maturity to handle corporate affairs. This maturity comes automatically because of the above mentioned reasons. You gain knowledge, experience and a change in personality. There is a great difference between a graduate starting his business and an MBA graduate starting his business.
So these are the reasons why I think one should go for an MBA even if they are joining their own business. I hope this article was of any help to you.
Contributed by Prachi Tewari (Batch 2013, IBS Hyderabad)