Masters in business administration , a very prestigious degree in a country like India. It lines up the career path to the corporate world and business literates. With several specializations in its umbrella like HR, Marketing, Finance and several others providing a very smart and specific understanding and knowledge of the relayed profession. A two year course with several promises of sky-high packages.
If you are a business aspirant, the first career oriented suggestion that knocks on your door is “go for MBA”. And quiet naturally so, it seems like the best option. India is known for its provision of several business degrees in several renowned institutions that offer it. There are about 20 established IIM’s(Indian Institute of Managements) with several super-new IIM’s being established by the government. Other institutes include FMS, IIFT, Narsee-Monji and many others. Apart from these there are other average level institutes as well that churn out managers and entrepreneurs.
SO, it is a fact that MBA is a nice option for becoming an entrepreneur.
But is it necessary?
Idea vs Experience
We often come across stories of our estranged friends or old neighbours making it big in business. Then there are the age old examples of our traditional businesses excelling the local markets without their founders being certified with MBA. What is it that makes these people go big? Is MBA compulsory? What are the key features of any business?
Well, one important factor that is key to any startup is an idea, an innovation. This idea holds the power to revolutionize and bring about a change. The things that decide the directionality of a startup next are the four pillars of entrepreneurship- Legalization, Taxation, Marketing and Finance. These features hold the power to make any business a pioneer in the market. What makes the town square chaatwala uncle a success is also the ingredient that makes an MBA entrepreneur. So, yes MBA is definitely a plus for a business but not a necessity.
Success stories of people like Ritesh Agarwal from the Oyo Rooms, Varun Agarwal(Engineering student turned merchandise maker), Suchi Mukherjee (Limeroad) and several others have concretely instilled one simple notion in our minds and hearts-To run a successful business and to reach the ladder upto a global business giant perhaps requires one and only one thing ,an idea, the zeal to learn everything required to establish that idea into being and brevity to take risks because nothing good comes to one who doesn’t dare.