I have done my B.Com and I want to join my family business or start my own. Is it worth pursuing an MBA for your family business?

Question

Dharamveer Dheer · Answer

Entrepreneurs, these are the people who either start or run a business in any commercial field. Entrepreneur is a very unique skill or quality. Till few years back it was said that entrepreneurship cannot be taught, it comes naturally to some people. But with advent if newer technologies, new rules, regulations and compliance, newer set of competitors and innovators there is a need of specific training/course to make it big in business. Since entrepreneur is the one who drive the economies and create jobs, it become all the more important to have proper trainings for the talented people aspiring to become one. A logical step followed, MBA Programs with specializations or electives started all across the world. But very few have really understood the real requirements of this special skill set. The choice of B-School for MBA is MOST important here, you need to check if the school ticks all the right boxes. If we SEE from Indian context, Some older Iims are doing a pretty good job, but in private space, one I. e Mittal School of Business at LPU has been able to make a mark. Being a walled community having 30000 plus students and over 5000 staff members, LPU is a huge ecosystem in itself. Such a scale itself provides a large number of entrepreneurship opportunities [1] to the student. At any given point of time there are more than 300 different business ventures in the university campu. LPU students get exposed to large number of mega-events, workshops and trainings which helps them learn to organiz things and networking. The training of technologies like SAP, Advance excel and other MOOCs makes them learn the best practices, efficient models, analytical tools etc. For their benefit. Diversity of campus, there are people from all across the country and more from about 70 countries, this huge diversity makes the student learn cross-cultural teamwork, right sensibilities, global outlook, global network, and great interpersonal skills. Entrepreneurship projects are an integral part of curriculum and so are Community Development Projects. These expose students to real-life situations and helps to improve problem-solving skills. So, yes In all its sincerity MBA from LPU is good for budding entrepreneurs, If you have it in you and really want to be an entrepreneur, don't forget to participate in selection process comprising of interview is announced by LPU. Visit admission. Lpu. In for full details. Be well prepared for interview though. Hope this helps. DVD.

Vineet Kumar Rohilla · Answer

There is no minimum qualification necessary to start a business, but yes to be a successful entrepreneur you must have knowledge of the field, so doing MBA is surely going to help whatever nature of business, it may be. So, just go for it. Regards.

Khushal Arora · Answer

Hello! I would say a Big Yes. Go for MBA. MBA helps to understand business in depth. One can learn a lot before entering into the business. It gives exposure to trends and strategies which are followed by great corporates. It helps to learn the language of business on which it runs. Some concepts and techniques will broaden the mind to think in different ways. It also encourages to think out of the box after listening to lot of success stories. MBA is not about passing the exam, it's more about building your confidence and personality. It gives exposure to outside world. Master of Business Administration (MBA) programme with a concentration in Entrepreneurship. To earn this degree, you will take a full MBA core course load, of which your non-core courses will cluster around topics related to entrepreneurship, such as venture capital and small business management. This multidisciplinary area of concentration is designed to prepare graduates to start their own business, knowing everything from how to write a real-world business plan, to how to manage a business at the international level. Students learn through traditional classes, through case studies and project-based assignments, and will even create a much business or business plan in their capstone class. Now, major point to be noted here is choosing a right academic partner. A logical step followed, MBA Programs with specializations or electives started all across the world. But very few have really understood the real requirements of this special skill set. The choice of B-School for MBA is MOST important here, you need to check if the school ticks all the right boxes. If we observe from Indian context, Some older Iims are doing a pretty good job, but in private space, one I. e Mittal School of Business at LPU has been able to make a mark. Being an LPU Alumni, I can say that LPU has experienced faculty members, well-equipped labs, great infrastructure, excellent placements, complete training and placement assistance and lot more and that too at a very low fees and high scholarships. LPU provides complete support to Entrepreneur programme and also runs a Start Up School as well. I hope this helps. Good Luck!

Ahana Sharma · Answer

Dear Jainam, An MBA in Entrepreneurship is a traditional Master of Business Administration (MBA) programme with a concentration in Entrepreneurship. Students learn through traditional classes, through case studies and project-based assignments, and will even create a much business or business plan in their capstone class. The Business School of LPU is accredited from (ACBSP) Accreditation Council for Business Schools and Programs from the USA ensuring quality education and industry experienced faculty members, studying in LPU will get a degree accredited from a body of USA. LPU Is Ranked No. 2 Among Indian B-Schools In 'Outreach And Inclusivity' By NIRF 2018 Ranking Released By MHRD, Government Of India. This gives the students credibility of their quality and education during their placements to the Companies and for higher studies. For more information, you can either visit their website or call on their toll-free number- 1800 102 4431.

sumit chaturvedi · Answer

As the MBA program would give you new ideas, tactics and knowledge to lead your business to professional level apart from that you will have knowledge of getting the things done efficiently and quickly. B.Com teaches you bit of accounts and taxation, which is not enough. An MBA would rather give you an idea to expand your knowledge to manage accounts and business in a professional way. Good luck.

Barkha Dubey · Answer

Yes, it will benefit you. You learn will learn a lot about management field. If you want to join your family business, then opt for MBA in entrepreneurship.

Shikhar Patel · Answer

MBA (Master of Business Administration) provide programs that include a core curriculum of subjects, such as accounting, economics, marketing, and operations. Some schools require those MBA candidates who have completed their internship at a company or organisation, which can lead to concrete job opportunities after the programme. Follow your own path, and you have also done B.Com so you already have some knowledge of taxation and economic. In my point of view, you should do MBA and do internship.

Swapnaneel Bhuiya · Answer

MBA (Master of Business Administration) provides programs that include a core curriculum of subjects, such as accounting, economics, marketing, and operations. Some schools require those MBA candidates who have completed their internship at a company or organisation, which can lead to concrete job opportunities after the programme. Follow your own path, and you have also done B.Com so you already have some knowledge of taxation and economic. In my point of view, you should do MBA and do an internship. It will help you understand the market, then you can start your own business or join your family business. But, remember one thing, when you join, you should check out the college, about its reputation in the market, and the type of study they provide. You should go for partial classes. If you do an MBA, then it will help to understand the market, you will gain exposure, personality development, you will learn to handle the people and definitely increase your knowledge in every field. So, it is totally up to you.

Juhi Bansal · Answer

MBA (Master of Business Administration) provide programs that include a core curriculum of subjects, such as accounting, economics, marketing, and operations. Some schools require those MBA candidates who have completed their internship at a company or organization, which can lead to concrete job opportunities after the program. Follow your own path, and you have also done B.Com, so you already have some knowledge of taxation and economic. In my point of view, you should do MBA and do internship. It will help to you understand market, then you can start your own business or join your family business. But, remember one thing, when you join, you should check out the college, about it's reputation in the market, and the type of study they provide. You should go for partial classes. If you do MBA, then it will help to understand market, you will gain exposure, personality development, you will learn to handle the people and definitely increase your knowledge in every field. So, it is totally up to you.

roopali arora · Answer

MBA is suitable as you would be able to serve front-end sales customer- in better manner as graduates having a management degree are perfect for, customer facing jobs and field applications. MBA widens the career scope as well it opens the door for top level managerial position. You can pursue MBA from colleges like IPS Business School which has been at the forefront of Management Education, developing and inspiring various fields of graduates into business leaders who strive to make a deep, positive and lasting impact on the people, companies and society they serve.

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