In advance of Global Entrepreneurship Week, though November 18, the GMAC News Center has an Entrepreneurship media resource center featuring:
B-School for Entrepreneurial Success: Video
Entrepreneurs: Who Goes to Business School and Why
MBA to Entrepreneur infographic
Entrepreneurship centers at member schools
B-School for Entrepreneurial Success: Alumni Speak
B-School for Entrepreneurial Success: Entrepreneurship Leaders Speak
B-School for Entrepreneurial Success
As more countries look to entrepreneurs to spur economic growth, business schools are stepping up to educate those entrepreneurs to increase their chance of success.
“ Many business schools offer entrepreneurship courses, certificates, concentrations or degrees to engage students in the practical, experiential application of business concepts to launching a new venture,” said Sidnee Peck, director of entrepreneurial initiatives at the W.P. Carey School of Business at Arizona State University. “Starting a new business is very different from running an existing one, and business schools are recognizing that more and more, leading to the dynamic entrepreneurship offerings currently available.”
Although business schools have long offered courses, tracks, competitions, and other offerings for entrepreneurs, the number of specific business school degree programs in entrepreneurship or innovation using GMAT scores for their admissions has more than doubled over the past five years, from fewer than 30 in 2008 to more than 60 today.
And there is a growing awareness that business schools offer entrepreneurs a safe place to tap knowledge, resources, and networks to help them avoid costly mistakes.
“You come to a business school and you’re going to be exposed to a lot of successful individuals, many of whom are alumni who are entrepreneurs. Secondly, you’ll gain knowledge—knowledge that will give you confidence and enable you to take the risk that you need to take to become an entrepreneur. And then, thirdly, the network—all of the friends that you’ll meet will help you, but also [help you get] the access to venture capital funds and so forth that can help get the business started,” said John Quelch, vice president and dean, China Europe International Business School.