Generally, it is recommended that before a student opt for an MBA program, it is important that he/she should identify the purpose for which he needs such a degree. Some state that their goal is to do own business, while some state that they want this qualification for landing high paying jobs with better positions in organizations.
As future managers, it is important that students taking up this course should understand many aspects of business and should master in a few of them. When it comes to those taking up the course with business objective, in addition to learning the ropes of running a business, it is important that they should nurture their skills with respect to taking risk, curiosity to solve a problem, passion for an idea, etc. Knowledge in these areas is something that conditions the personality of those, who wish to become future entrepreneurs.
What if your objective is business?
The important fact you should remember is that doing a business is not something that is getting simpler these days. The reason is that there are many internal complexities and external influences that make the business operations tougher these days as against what it was earlier.
Furthermore, business environment is something that changes quicker these days and even though, you might argue that you can learn from the mistakes, the reason is that learning from the mistakes will provide you with lesser probability to success in the current competitive business environment. An MBA course will help you in understanding the fundamental aspects like setting up a price plan, motivating employees and raising capital from the market. With these skills you gain added to the skills that you naturally possess will make you a person with better entrepreneurial skills. In short, with this objective, you can get the knowledge on how to arrive at superior and informed decisions.
What if your objective is a job?
When it comes to those looking for employment opportunities, they need holistic understanding of many areas with specialized knowledge on the selected niche. Many students choosing this option after completion of MBA, might not possess the appetite to shoulder the risk and insecurity that are associated with pursuing a passion for creation of something of their own interest. Their preference is to get placement in a secured environment that will help them in delivering results and remain creative and the want of independence is not their burning desire.
Before we get to an end to this debate between own business and job, it is important for the course-takers to take a step back and they should question themselves, whether a decision in this regard should be made before taking up the MBA course. The reason is that there are specializations that are meant for those with entrepreneurship objectives. So, arriving at an intelligent decision is important to begin with an objective and you should be ready to adapt yourself along the way such that you can refine the objective into a reliable and secure outcome.