Traditionally, Indian students have looked at management education as a short-cut to success; a ladder to mid-level corporate jobs that will earn them a good designation and a respectable CTC. However, with the tides of start-ups and entrepreneurship reaching the shores of India, the MBA education in India has also evolved drastically. With the evolution of the start-up ecosystem in India during the last decade, young and ambitious MBA aspirants have started savouring dreams of being successful entrepreneurs with their own business ventures.
Catering to this new development in the management industry, even the top MBA colleges have started developing academic programmes and MBA courses that cater to the specific needs for the training of entrepreneurs. If you are also a budding entrepreneur who needs to learn the basics of entrepreneurship; you must join any of the following programmes that are specifically tailored for you.
Offered by the Entrepreneurship Development Centre (EDC) at XLRI, Jamshedpur; the PGPCEM programme is a full-time 6-month certification course for entrepreneurs. This MBA programme intends to provide competency-based training to management students with a view to promote entrepreneurship. The course focuses upon critical and lateral thinking of the candidate backed by a unique teaching pedagogy that integrates theory with practice.
PDGM-BE as it is popularly known, is a two year full-time programme that is offered by EDI – one the foremost B-schools in the domain of Entrepreneurship training. The course is tailored for entrepreneurs and entrepreneurial mangers and prepares students to initiate, expand and diversify business enterprises in new, up-coming areas. The institute follows experiential learning pedagogy through summer internship and projects, which help students, develop a practical understanding of what goes into making a business enterprise work. The course also enjoys approval of AICTE and accreditation by National Board of Accreditation (NBA), which proves the quality of the programme.
Offered by one of the best private B-schools in the country – SPJIMR, the Start Your Business Certification course is the perfect launch-pad for any entrepreneur. The course has been designed by the Centre for Entrepreneurship Development, the programmes helps budding entrepreneurs inculcate knowledge, skills and attitude that one needs to start a new successful venture. Apart from core faculty members of SPJIMR, the course also includes guest lectures and industry interaction session with entrepreneurs, venture capitalists, marketers, service providers and others from the entrepreneurial ecosystem. The programme also gives an opportunity to the students to present their own business plan before a panel of experts and also access mentoring and funding networks through the B-school.
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The SPJIMR Mumbai’s CED also offers a second certification programme for entrepreneurs called Grow Your Business. While the first programme was aimed at budding entrepreneurs, the Grow Your Business programme is aimed at small business owners, entrepreneurs, founders, key decision makers of micro and small enterprises (SME). The course helps entrepreneurs find creative and pragmatic solutions to the operational and strategic problems. Moreover, as part of the programme, students / participants also have to prepare a detailed 3 or 5 year growth plan with a vision and set of goals & strategy to achieve the vision. The programme offers excellent networking opportunities for the participants to connect with fellow business owners and entrepreneurs.
Launched in 1999, the MBA in Entrepreneurship & Family Business at NMIMS Mumbai is one of the best entrepreneurship centred MBA course in the country. Although the course is more tailored for entrepreneurs who have a family owned business; the course is also beneficial for young and budding entrepreneurs who want to establish their own venture. The course is aimed at developing entrepreneurial competencies among the students such as goal setting, self-confidence, problem solving and planned risk management. The B-school has adopted an innovative teaching pedagogy which is a mix of classroom lectures by faculty members, case studies & project assignments along with industrial visits.
Fondly known by its abbreviated version – EDP; the XIME conducts a wide array of business programmes centred around Entrepreneurship Development. The programme is conducted over three weeks and covers a diverse array of topics such as Business Opportunity Identification, Development of Detailed Project Plan, IT Tools and Solutions for SMEs, Entrepreneurship Competencies and mentorship. Out of three weeks, the last week of the EDP course is dedicated for business plan preparation, where mentors and industry experts help students build a successful business plan for their venture.
6. MBA in Family Business and Entrepreneurship
Another MBA course tailored for youngsters with entrepreneurship is NIRMA University’s MBA (Family Business & Entrepreneurship). The programme is a two-year full-time management programme which is aimed at young graduates who harbour entrepreneurship ambitions with or without family business. The programme also addresses the specific needs of next generation of family business owners through an elective which has to be chosen in the second year. The course curriculum has been designed by a team of successful family business owners, entrepreneurs and subject experts. The faculty at NIRMA University use classroom lectures, syndicate discussions, case studies, simulations, project work and role plays as part of the teaching process for this programme.
Offered by IIM Bangalore - one of the best B-schools of India, the Management Programme for Women Entrepreneurs is a three week training course for women business owners who harbour Entrepreneurship ambitions. The course is run by Nadathur S Rahghavan centre for Entrepreneurial Learning of IIM-B and is tailored to help women entrepreneurs who already own businesses and social enterprises to grow them further. The course helps women entrepreneurs develop a pragmatic business plan for their enterprise through mentoring. The programme has different modules that are developed my subject experts and industry experts to help young women entrepreneurs develop the necessary skills and gain critical knowledge to their business domain.
Entrepreneurship has become the need of the hour, especially in India, where unemployment rates are reaching a new high today. India needs more employers and innovators, who can build successful businesses and the aforementioned MBA programmes help young graduates with entrepreneurial ambitions, develop the competencies to build and lead a successful business enterprise. You can find more interesting articles related to MBA and off-beat course and career options for management professionals at www.jagranjosh.com/mba.