The Master of Business Administration (MBA) in Entrepreneurship program offers powerful skills development for individuals who want to convert their dreams into reality. If you're just beginning to create your own career or have been in business for a while, earning an MBA in entrepreneurship can provide the insight, strategy, problem-solving skills and marketplace savvy to create a new venture. Through courses and workshops, the MBA entrepreneurship student learns to hatch plans and scenarios and bounce them off experienced business faculty.
In an MBA in entrepreneurship program, you'll learn how to identify a need for a product or service, how to craft a business plan and strategy to find launch capital for new ventures, and how to brainstorm with mentors in your field to identify risks and opportunities. Most programs are hands-on degrees, where you'll work with real business problems and confer with experts who have real-world experience.
MBA in Entrepreneurship: What's in it for You?
There's no substitute for hard work, so expect to be challenged by your school and faculty. You'll learn to assess your business strengths and shortcomings, and discover critical management skills that can help you launch and empower a small enterprise. Even if you don't plan on putting your own business together, an MBA entrepreneurship program can dramatically boost your leadership skills at your existing public corporation, a non-profit organization or small business.
The practicality of an MBA in entrepreneurship is legendary. You'll learn how to plan, make decisions, and convince others to pull along with you. Hiring, training and motivating your staff no matter the scale is an indispensable skill in gathering steam and modifying your path to success when change is inevitable.
Coursework for Your MBA Entrepreneurship Degree
Your program is designed to build skills in negotiating, leadership, marketing, business management, decision making and human resource management. To that end, your coursework can include topics in:
- Statistics and forecasting
- Business law and theory
- Project management
- Accounting and economics
MBA entrepreneurship degree programs can take from 18 months to four years, depending upon whether you attend full or part-time programs. Campus-based programs may meet at night or on weekends. Online MBA programs are available to students whenever it's convenient for them to log on. Working students appreciate the flexibility of online course scheduling. You can often integrate your training with real-work challenges.
Career Options and Salaries for Entrepreneurship Grads
Depending on your goals, you can put your MBA entrepreneurial skills to work in launching your own business or in managing an existing enterprise. Graduates move on to become corporate managers, CEOs, departmental managers, independent consultants or members of a business analysts' firm.
Here's a breakdown of several career paths and potential earnings:
Top Executives. Depending on the organization, top executives may hold titles like chief executive officer, chief operating officer, president, vice president and general manager. They design and execute top-down policies and strategies to accomplish all business objectives. Best opportunities in the 2008-2018 decade will be in the healthcare sector. Top 2009 annual wage: $166,400+.
Management Analysts. More than a fourth of all management analysts are self-employed. They advise clients in operations, supply chain, investment, or marketing strategies. Job growth is predicted at a brisk 24 percent, 2008-2018. Top 2009 annual wage: $134,820.
Financial Analysts. Buy or sell-side financial analysts guide businesses in investments, providing industry trends and performance metrics. Jobs are projected to rise by 20 percent between 2008 and 2018, with competition favoring professionals with master's degrees. Top 2009 annual wage: $139,350.
Financial Managers. One third of all managers in this field work in finance or insurance sectors. They develop and oversee programs for cash management, investments, and risk management. Expect keen competition for positions; MBA degrees can get you in the running. Median 2009 annual wage: $101,190.
Salaries can vary by industry and the size of the enterprise. For MBA entrepreneurship graduates, the possibilities can increase as you put your training into practical use. Your personal drive and dedication can make for all the difference once you learn the practical application of successful business methodologies.