Debating the modern role of MBA programs
There’s a lot of back and forth regarding the value of getting an MBA. Some believe it’s absolutely necessary when considering moving into a more advanced, managerial role or if you’re making a major shift between industries; others disregard them as general programs with no real focus. But in a recent blog post, Gust CEO David Rose finds that many MBA programs have transformed and adopted a more startup-style mentality, equipping graduates with the tools they need to make it as an entrepreneur.
Traditional MBA programs were first created to meet the needs of industrial in the post-war era, but that mentality obviously doesn’t provide value to students in 2013. Business today is based off of a startup culture where companies can get funding from crowdfunding and angel investors in addition to traditional lenders, or get there start through accelerator and incubator programs rather than being faced with launching all on their own.
Entrepreneurs that are just starting out are persuaded to come up with big ideas that are outside of the box and solve problems in innovative ways – and in addition to that, established companies also ride that wave of innovation by sharing resources needed to make a successful start.
MBA programs have been re-invented
MBA programs today focus on entrepreneurship in courses in order to cultivate this mentality of innovation even more. Rose notes that more entrepreneurs will continue to start their own businesses, and the number of large companies “will continue to shrink.”
Programs will also teach students how to think on their feet and operate as an agile business owner, as business is rarely stagnant or slow moving. Instead of focusing solely on case studies and textbook learning, instructors are including business plan competitions and actually pushing students to come together and put a company together from in all aspects, whether it be concept or go-to-market strategy.
In 2013, Rose argues that MBA programs have evolved with the times are now designed to develop knowledgeable, quick-thinking entrepreneurial-minded individuals who can strike a new path not sought before; those are the qualities companies, investors and partners seek, and therefore make a point to look for graduates from top MBA programs.
