Next week, students, entrepreneurs, businesses, and governments across 127 countries will celebrate Global Entrepreneurship Week, the world’s largest promotion of entrepreneurship. Activities for the event aim to connect innovators with potential collaborators, mentors, and investors to explore new ideas and provide information on what it takes to build new enterprises—a goal shared by a growing number at business schools worldwide. (more…)
You know that starting a new business takes passion, focus, tenacity, ambition, innovative ideas, and a willingness to take risks. But success also requires solid business knowledge, management expertise, funding, and the right people—and that’s where b-school can help. (more…)
Can you learn to be an entrepreneur or is it something innate? This is a question that often divides opinion in the management education world. Some believe that entrepreneurs are born risk-takers whose brains are wired differently than the rest of the population. Others believe it’s possible to learn the core skills to set up a business, take risks, and launch a new product or service, even if you’re not born with the ‘go-getter’ genes.
Most MBA programs now incorporate entrepreneurship courses that cover topics such as finding an idea, building a team, writing a business plan, raising funds, and setting up the legal framework for a company.
Dedicated entrepreneurship centers, such as the Polsky Center at the University of Chicago Booth or the Rock Center at Harvard Business School, have become more commonplace in the last decade. These centers support MBA entrepreneurs (current students and alumni), foster innovation across the business school and promote cutting edge research to help bring entrepreneurship into the academic mainstream.
Entrepreneurs are a special sort. It takes vision, determination, drive, and courage to start a successful new venture. In the class of 2011, only 5% of grads told us they intend to set out on that path. Most of these students—tomorrow’s entrepreneurs—credit their management education with giving them the “know-how” to turn their visions into viable business plans.
These emerging entrepreneurs realize that success, whether working for themselves or for someone else, will depend on their mastery of general business knowledge. Decision-making skills, the ability to manage strategy and innovation—these are the foundational skills and abilities that business grads across the board say they improve most during their graduate studies.