With an MBA program I expect to emerge with greater understanding of business
I have been working for last 8 years and I am doing well in my career. However, in long term I want to be an entrepreneur. And despite my experience, I feel I still lack in some important knowledge and management skills, especially in marketing and entrepreneurship. I am also aware that my knowledge of international business is insufficient. Since dealing with aspects of international business will be an integral part of my job as an entrepreneur, it is essential that I fill in these gaps. This is where MBA becomes a tool to be utilized in building up existing competencies. I strongly feel that rigor and quality of study while completing MBA is essential for understanding the nuance of business in any organization. With an MBA program I expect to emerge with greater understanding of business and functional issues as well as new conceptual skills ready to meet the demands of this competitive world. Can I launch my own business without an MBA? Yes I can and there is much to be learned from hands-on experience. However an MBA program will give me an apparatus to try my ideas without the attached risk for failure. An MBA will prepare me to do everything from writing a business plan, to acquiring venture capital, to launching an IPO. Research has shown that the failure rate for small businesses started by an MBA is about 50 percent less than the standard failure rate. Networking is another key benefit. MBA program encourage teamwork and, over the course of an MBA program, I’ll develop important relationships that can serve me well throughout my business career. Also I will benefit from being a member of network of alumni working at a wide range of companies. This is useful for professional contacts. Thus by developing and maximizing the entrepreneurial and managerial skills which I have already accumulated, an MBA program will allow me to make a concrete and substantial contribution to my country’s development.
