Interesting thread below by Gopinath Bindhany re-printed from Linked-In:
Why B-Schools fail to create Good Entrepreneurs?
If one thinks of being an entrepreneur, he thinks of joining an MBA. But MBA is a structured course, where in one jumps into hoops designed by someone else. In a class with a very compatible environment, the real entrepreneurs do not get space to grow and prove their ideas, thus resulting in failure. Let us see few points, which can be the cause of such failures of the B-Schools.
Marvelous Machine:
There is a perception that the students who join MBA are out of the world and special and do not need to show any special work. Huge amount of money is spent for two years course wherein they are tapped into a corporate system that provides a six figure pay jobs at the end of the course, which validates the whole concept. The bigger the fee paid, the bigger the digit you get back. Just a give and take policy.
Lack of real facts:
The entire course is a perception of the past. The case studies are all predictions rather than descriptions. The explanations are not self-based assessment, like individual talent, team, moral and many other factors; rather they are outside factors. Self-assessment is more important to know where one stands and then decide if he/she should be an entrepreneur or not.
Emphasis on raising fund from VCs:
The focus of the course is on building big companies rather than self-employment or family business, and raising capital from VCs. For a startup, it is better to go on with bootstrapping, as no one knows what will happen to the business in the initial phase. They should be taught about the pros and cons of VC funding and the kind of business, which require a VC funding from the initial stage.
Lack of skills:
The curricula of MBA are nowadays getting easier and designed according to student's request. A lot of students graduate without any specific skill. The students even fail to impress the VCs and Angel investors as they lack the facts and reality about the market. Good presentation slides are not enough to attract them; rather the course should be designed as such to meet the current requirement of the segment.
Why B-Schools fail to create Good Entrepreneurs?
If one thinks of being an entrepreneur, he thinks of joining an MBA. But MBA is a structured course, where in one jumps into hoops designed by someone else. In a class with a very compatible environment, the real entrepreneurs do not get space to grow and prove their ideas, thus resulting in failure. Let us see few points, which can be the cause of such failures of the B-Schools.
Marvelous Machine:
There is a perception that the students who join MBA are out of the world and special and do not need to show any special work. Huge amount of money is spent for two years course wherein they are tapped into a corporate system that provides a six figure pay jobs at the end of the course, which validates the whole concept. The bigger the fee paid, the bigger the digit you get back. Just a give and take policy.
Lack of real facts:
The entire course is a perception of the past. The case studies are all predictions rather than descriptions. The explanations are not self-based assessment, like individual talent, team, moral and many other factors; rather they are outside factors. Self-assessment is more important to know where one stands and then decide if he/she should be an entrepreneur or not.
Emphasis on raising fund from VCs:
The focus of the course is on building big companies rather than self-employment or family business, and raising capital from VCs. For a startup, it is better to go on with bootstrapping, as no one knows what will happen to the business in the initial phase. They should be taught about the pros and cons of VC funding and the kind of business, which require a VC funding from the initial stage.
Lack of skills:
The curricula of MBA are nowadays getting easier and designed according to student's request. A lot of students graduate without any specific skill. The students even fail to impress the VCs and Angel investors as they lack the facts and reality about the market. Good presentation slides are not enough to attract them; rather the course should be designed as such to meet the current requirement of the segment.
Bryant Michaels
MBA Admissions Consultant
Enroll now. Pay later. Take advantage of Veritas Prep's flexible payment plan options
MBA Admissions Consultant
Enroll now. Pay later. Take advantage of Veritas Prep's flexible payment plan options
