The innate entrepreneurial spirit and skills of a businessman cannot be incorporated into an individual by any education in the world. Billionaires like Bill Gates, Warren Buffet and Jeff Bezos are born with it, which is true for successful businessmen across all spheres and classes of business as well. However, unless that entrepreneurial spirit receives proper guidance through proper education, the entrepreneur may never be able to reach his/her full potential.
After all, the world has now become a lot more complicated and competitive, which means that you need to be aware of the basics, as well as various advanced business tactics that have been evolved to perfection through the years. Therefore, we have prepared a brief list of the best MBA specialties which a business owner, in particular, can benefit from the most.
MBA in Entrepreneurship
Just like the name suggests, this is a specialization that has been custom made exclusively for entrepreneurs. Aside from the basics, the MBA program will particularly concentrate on subjects such as business strategy, generating ideas, feasibility estimation, venture capital, product design, marketing, legal structure of a business, and various other aspects of starting, managing and expanding a new business.
MBA in Business Intelligence
Not only is Business Intelligence an excellent choice of MBA specialization for entrepreneurs, it’s also a career boosting specialization for experienced professionals working in the industry as analysts, data managers and executive decision makers.
The specialization focuses on strategic thinking, analytical reasoning, change management, imparting updated IT knowledge and effective communication techniques, streamlining business performance, improving customer relationships and of course, the basics such as teaching business law, economics and operations management.
All MBA courses offered by places like Suffolk University Online are AACSB Accredited programs which can be completed over the internet alone, meaning that you won’t have to suffer losses or lose control of your business while completing your MBA. This isn’t just true for MBAs in Business Intelligence, but for every other MBA specialization program that one can sign up for.
MBA in Finance
The MBA in Finance is a very in-demand program that concentrates on corporate finance, international finance, investment banking, portfolio management, financial optimization and financial problem solving.
Professionals with a finance MBA are among the top earners in the country, right next to MBA degree holders in Business Strategy and Intelligence. Do keep in mind though, the degree must be earned through a program with AACSB International Accreditation to have any real value in the job market.
As you are an entrepreneur, seeking to improve your business and not looking for employment, the financial knowledge will actually prove to be even more beneficial for you towards making your organization a more financially sound and successful one.
Even an MBA with accounting or healthcare management specialization can be quite helpful for entrepreneurship, provided your business idea happens to be along those lines. Unfortunately though, they do not generally have the best prospects as far as salaries are concerned.