Launch Your Ambitions with an MBA in
Entrepreneurship & Innovation
About Entrepreneurship & Innovation
Are you someone who loves taking risks and leading change? Entrepreneurship & Innovation might just be the right course to follow. Entrepreneurship & Innovation management deals with creative problem-solving that adds value to the economy and contributes to the global marketplace. Entrepreneurship is about ideating and executing, while innovation shapes the framework for generating ideas and implementing those ideas dynamically.
Entrepreneurship has moved to a different level, it is not just about start-ups anymore, but mergers, acquisitions, buyouts have become common headlines in today’s business world. Entrepreneurs are essentially creative with strong leadership skills, who are ready to take risks, fail multiple times and then start again. An innovation manager leads projects resulting in higher efficiency and profitability. He inspires the organization to comply with innovative processes and solutions to produce quantifiable benefits in form of new product offering, improvised services or a new line of business.
MBA in Entrepreneurship and Innovation
A major in Entrepreneurship and Innovation prepares the groundwork for students to start their business journey while still pursuing the course or to join an existing business or to even plan their business launch at a later stage. The program lays focus on creating ideas of socio-economic value along with developing competencies of generating and recognizing growth opportunities, acquiring resources – both human and material, building and motivating teams, understanding the customer psyche, evaluating financial feasibility in terms of capital investment and profit generation. It equips students with the analytical tools, leadership skills, diverse perspectives, and concepts to venture not only as solopreneurs, family-business entrepreneurs, or corporate entrepreneurs but also critical in settings of non-profit organizations, global, retail, franchise, launching new business division of an already established organization or while investing in new ventures.
The most significant aspect of such programs is the practical exposure provided to test the theory in real-world situations. These are in the form of experiential learning, preparing student groups, labs, business-plan competitions, constructing real business plans, interacting with partners and customers, doing feasibility analysis, while undertaking new field projects or initiatives and working with leading business practitioners. The students are immersed into an actual entrepreneurial experience such as, at Wharton students are engaged into the award-winning Looking Glass entrepreneurial simulation and many other role-playing games and simulations, that foster the skills required for shaping any successful business. Some management schools like Duke’s Fuqua School of Business have gone a step ahead in creating ‘Center for entrepreneurship and innovation’ for their MBA students to promote practical application of classroom learnings and extending support to individual start-ups or firms entering new ventures.
Students have a range of electives to make their Entrepreneurship and Innovation coursework coherent. B- Schools provide a comprehensive list to offer a choice from Human Resource, Finance, Real Estate, Marketing, eCommerce, Product Designing, Healthcare and many such fields to sharpen their focus. Some of the core topics that you will come across in this Program are –
Entrepreneurship & Business Ownership
Strategic Management of Technology & Innovation
Emerging Technology Markets
Venture Capital & Entrepreneurial Management
Entrepreneurship through Acquisitions & Buyouts
Private Equity in Emerging Markets
Some of the top B-Schools offering Major in Entrepreneurship and Innovation are –
Babson College (Olin)
MIT Sloan School of Management
University of California – Berkeley(Haas)
University of Pennsylvania (Wharton)
University of Michigan – Ann Arbor (Ross)
Salary & Career Prospects
Some of the career roles available to Graduates of MBA in Entrepreneurship and Innovation are –
Senior Product Manager
Business Development Director
Innovation Project Manager
The median annual salary of an Innovation Manager was $ 101,897 and that of a Business Development Director was $ 118,000 as on 30 Aug’2018 as per payscale.com.
Some of the Top Recruiters from this discipline are –
The Wayland Group
Adaptability and flexibility have become essential virtues in modern-day business settings. As organizations are becoming leaner, technology-oriented, global, and resource-constrained, skilled and innovative business practitioners are in huge demand. According to the Bureau of Labor Statistics, business and financial organizations will grow 10% by 2026, faster than the average, creating 773,000 jobs by then. Start-up trend is on a rise since the recession of the late 2000’s and would continue to do so with the ongoing technological advancements.
Materials & Resources
Some association websites –
Association for Managers of Innovation
International Association of Innovation Professionals
Young President’s Organization