5 Reasons Why MBA Is Still a Popular Choice In India
Some people opine that only entrepreneurial genes can fetch you success in business, while others believe in the power of ‘network’. So why are business schools still such a popular choice among aspiring entrepreneurs?
Business schools house the greatest minds and create an intellectual pool where people bump ideas off each other, get competitive, and fine-tune various skills. Unfortunately, while these factors are lucrative to all, they can be only beneficial to a few. It is not unknown that despite securing a degree from a top-tier university, many graduates have failed to break through to the big leagues.
So what drives these aspirants to grind for an MBA?
How much does an MBA degree help in reality?
1. Non-risk takers look for security
To educate yourself and then move into the industry is an age-old tried and tested method. This traditional path offers non-risk takers a blueprint to follow. There are obvious perks, such as knowing there will be placements gives candidates something tangible to look forward to; the high probability of having a job and a paycheck at the end of the month can be a comforting thought. An MBA degree is a popular choice for those with an old-school mindset, looking to create a safety net, something to fall back on if the business falls through.
2. Scope of communication with the big shots
Alumni associations and annual alumni meetings are the most significant advantages of attending B-school. Today when ‘net worth’ is measured by an individual’s ‘network’, these meetings open doors to mingle with the already established entrepreneurs and establish relationships with other like-minded people. For example, the co-founders of Sugar Cosmetics, Kaushik Mukherjee and Vineeta Singh had their alumni, Sanjeev Bikhchandani come to their dorm room and help them figure out a website they were working on during their years at IIM Ahmedabad. And if you are lucky enough, you might even find your first investor in one of these meets.
3. Your batchmates are your potential business mates
Business schools cultivate and encourage new ideas, and chances are you’ll find someone who will resonate with yours. Why else do you hear about startups founded by IIT graduates? You get to plan, discuss and consult with professors and classmates before you commence working on your idea.
4. Enhances your competency and teaches you to be punctual
A good brain alone is not enough. Diligence and punctuality sure take your chances to succeed a notch higher. And these schools have a strict code of conduct for students to abide by, naturally preparing you for the long run.
5. You’re compelled to nurture your people skills
You learn to work with people with different abilities, temperaments, and ideas. Not always are these interactions pleasant, but you will learn how to stand tall among a legion of differing opinions. Now, the real question is, are your chances of becoming a successful entrepreneur slim if you fail to get through a Business School? The answer is no. Even after graduating, you might still be in a bind as to how to establish your idea. A myriad of other factors come into play when you try to set up a business, like a niche you’ve chosen and how well you have studied the market. There is no foolproof formula that works for everyone. Your success in business depends on hard work and how you handle the avalanche of emotions and micro-decisions that you’ll be hit with every day. To be an entrepreneur is to ‘figure it out’ by working through things day-in and day-out.
If you want to know all that we talked about in this episode of my podcast, Figuring Out, click right 👇