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For an entrepreneur, how useful is an MBA?
August 30th, 2009by
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I’m actually a doctor who’s enrolled in an MBA program with a special track in health. I’m really more of a medical entrepreneur, and wanted to know how useful an MBA is to help me in by career in business.
An MBA teaches you all aspects of running a business. If you are a doctor, you are already pretty good in your field of health; but it is not expected that you would ace finance or marketing, strategy, etc. these are key elements of running a business and that’s where an MBA plays a key role. It educates you with the essentials and you develop good connections with business coaches that can help you.
MBA is a course stating managing business administration, it involves a lot on personal managemnt,production,accounting,marketing used to help manage any business successfully as well as there is promotion guaranteed in the short run.
It may indeed be useful, but probably less so than for someone with no entrepeneur skills and resources. I think your own market savvy and your own investment capital are much more important assets than any piece of paper. But I refer now to the MBA itself, not the knowledge you may have picked up in the process of qualifying for it. You might also pick up such knowledge in self-education, for which there is no certificate to hang on your wall.
The usefulness of as MBA program is based on the ability of the professional to apply knowledge of business administration to an area of his/her specialisation. You might be the best health specialist in the world, but all your skills are of waste if the mental tools are not available to market and manage your skills. Hospital and clinic have provided avenues where medical professionals can display their skills. In their absence,(as an entrepreneur) you would need some form of facility where you can let people know you are there (and also provide your service at a profitable level). This is where MBA could come in by assisting you see how you can do that in the most practical way.
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4 Responses to For an entrepreneur, how useful is an MBA?
An MBA teaches you all aspects of running a business. If you are a doctor, you are already pretty good in your field of health; but it is not expected that you would ace finance or marketing, strategy, etc. these are key elements of running a business and that’s where an MBA plays a key role. It educates you with the essentials and you develop good connections with business coaches that can help you.
MBA is a course stating managing business administration, it involves a lot on personal managemnt,production,accounting,marketing used to help manage any business successfully as well as there is promotion guaranteed in the short run.
It may indeed be useful, but probably less so than for someone with no entrepeneur skills and resources. I think your own market savvy and your own investment capital are much more important assets than any piece of paper. But I refer now to the MBA itself, not the knowledge you may have picked up in the process of qualifying for it. You might also pick up such knowledge in self-education, for which there is no certificate to hang on your wall.
The usefulness of as MBA program is based on the ability of the professional to apply knowledge of business administration to an area of his/her specialisation. You might be the best health specialist in the world, but all your skills are of waste if the mental tools are not available to market and manage your skills. Hospital and clinic have provided avenues where medical professionals can display their skills. In their absence,(as an entrepreneur) you would need some form of facility where you can let people know you are there (and also provide your service at a profitable level). This is where MBA could come in by assisting you see how you can do that in the most practical way.