Nowadays more and more people are choosing to become entrepreneurs owing to all kinds of advantages it offers, for instance, independent work environment, lucrative market opportunities, creative approach, family backing, fast lifestyle and more. If you too are keen on chasing your dreams and make it big independently, it would really help you if you pursue an MBA in Entrepreneurship.
MBA in Entrepreneurship – What is it?
MBA in Entrepreneurship is generally a two-year full-time postgraduate program that comprises of four semesters. The course is essentially meant to impart requisite entrepreneurship-related knowledge to students, in order to help them become successful entrepreneurs of tomorrow.
It revolves around teachings that tell you how you can transform innovative ideas into profitable economic goods. Essentially, you’ll develop the ability to create different business ideas and then convert them into products and service offerings which will have viability in the modern-day marketplace. You will also learn how to avail venture capital financing for your ventures and give shape to commercial business organisations. It covers the entire gamut of activities that are part of running a new commercial venture, including accounts, recruitments, finance, operations and more. On the whole, MBA in Entrepreneurship students develop a well-rounded business acumen over the period of the program.
Before opting for an MBA in Entrepreneurship, please keep in mind that this stream is not meant for everyone. You should have a certain amount of creative bent of mind and back yourself with plenty of hard work to make it big in the entrepreneurship world. Anyone not used to risk-taking might also not be a good fit for this course.
You should have at least a bachelor’s degree in any discipline, from any recognised university with minimum 50% marks in aggregate to be eligible for such course. Apart from that you should also have a competitive score in one or more of national level All India Management (AIMA) tests like CMAT, XAT, MAT, CAT etc.
Some of the top MBA schools that offer MBA in Entrepreneurship program are Symbiosis Institute of Management Study (SIMS, Pune), Faculty of Management Studies (FMS, Delhi), ICFAI Business School (Hyderabad), Christ University (Bangalore) among many others.
The tuition fee charged for an MBA in Entrepreneurship in India normally ranges from ₹ 4 lakh to ₹ 5 lakh. After graduating with this degree, the students can get hired by reputed organisations in various capacities such as Assistant Manager, Business Development Manager, Finance Controller, System Analyst, Chief Human Resource Manager etc. The students can also initiate their own start-ups after completing this course.
MBA in Entrepreneurship – Highlights of the Course
|
Level of the course |
Postgraduate |
|
Type of examinations |
Semester system |
|
Eligibility |
A bachelor’s degree or equivalent (preferably with 50% aggregate) |
|
Duration |
Full-time 2 years |
|
Admission to the |
Through an entrance exam or direct admission in some institutes |
|
Entrance exams |
CMAT, MAT, CAT, XAT etc. |
|
Fee |
Ranging from ₹ 1 lakh-₹ 5 lakh |
MBA in Entrepreneurship – Eligibility Criteria
The general eligibility criteria to get admission into an MBA in Entrepreneurship program of reputed institutes is as follows:
- A graduate degree in any discipline (with preferably 50% aggregate marks) from a recognised University or equivalent
- A competitive score in MBA entrance exams like XAT, GMAT, CAT, Mat etc.
- The entrance examination scorecard shouldn’t be over 2 years old at the time of clearing the University-conducted entrance exam or at the time of admission
- Having some work experience under the belt makes things easier
MBA in Entrepreneurship - Admission Process
The admission process of an MBA in Entrepreneurship involves the following steps:
Written entrance test – While many institutes conduct their own written tests to grant admissions into their MBA in Entrepreneurship program based on it, there are others which readily accept scores of national level entrance tests like XAT, CAT, MAT. CMAT etc. The self-conducted entrance exams happen normally between November and January, and involve three main sections: logical reasoning, reading comprehension and quantitative skills.
Group discussion and personal interview – Conducted normally between the months of February and March, this stage of MBA in Entrepreneurship admission process involves thorough assessment of the candidates based on how they perform in group discussion and/or personal interview. GD and PIs normally test candidates for their personality traits like assertiveness, group behaviour, communication skills, confidence, reasoning ability, leadership, initiative, creativity and more. The personal interview in particular is about assessment of the candidate’s self-awareness, career goals and academic performance.
Final admission – After clearing all the preceding stages, the candidates are intimated about successful admission into the program. Most MBA institutes ask them to confirm their admission by paying the first instalment within 30 days of the call.
MBA in Entrepreneurship - Course Details and Syllabus
As detailed above, an MBA in Entrepreneurship equips students with the knowledge of service/product development, venture creation, business administration and business management. There is plenty of focus on entrepreneurship skills to prepare students for challenge-handling and leadership abilities which can hold them in good stead in the face of various technological, regulatory and environmental changes.
Below provided is a semester-wise breakup of an MBA in Entrepreneurship program:
Semester 1
- Business communication
- Managerial economics
- Statistics for management
- Human resource management
- Management and financial accounting
- Organisation behavior
- Management processes
Semester 2
- Financial management
- Operations research
- Operations and production management
- Project management
- Management Information Systems
- Marketing management
Semester 3
- Legal aspects of the business
- Research methodologies
Semester 4
- International business management
- Business policy
- Strategic management
Career prospects after completing MBA in Entrepreneurship
After completing an MBA in Entrepreneurship, you can either start your own venture or choose from a number of job opportunities available in different industries. Some of the industries that are well known to hire students passing out with this degree are: Banking, Automobile, Insurance, Advertising, Information Technology, Small and Medium Enterprises, Agriculture etc.
You can start with attractive profiles like Financial Manager, HR Manager, Marketing Manager, Business Development Manager etc. with reputed companies like Infosys, Hindustan Unilever Ltd, Reliance Industries, Dell, Wipro, Reckitt Benckiser, Tata Consultancy Services, CRISIL, AT Kearney, Heidelberg Cement and others.
Some affordable institutes offering MBA in Entrepreneurship in India
Some of the affordable yet reputed institutes in India that offer MBA in Entrepreneurship to interested candidates are:
|
Institute Name |
Average fees |
|
Sikkim Manipal University, Gangtok |
₹ 49,600 |
|
Symbiosis Centre for Distance Learning, Pune |
₹ 35,000 |
|
Anna University, Chennai |
₹ 18,650 |
|
ICFAI University, Tripura |
₹ 60,000 |
|
University of Mumbai, Mumbai |
₹ 25,000 |
|
Indira Gandhi National Open University (IGNOU), New Delhi |
₹ 31,500 |
|
Osmania University, Hyderbad |
₹ 50,000 |
|
Annamalai University, Annamalainagar |
₹ 13,350 |
|
Yashwantrao C Maharashtra Open University, Nasik |
₹ 16,000 |
|
Netaji Subhas Open University, Kolkata |
₹ 8,000 |
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