Entrepreneurship - Term Paper Example

TO WHAT EXTENT MBA DEGREE MOTIVATES PEOPLE TO BECOME AN ENTREPRENEUR Table of contents Introduction 3 ment of the problem 3 Purpose of the study 4 Research question 5 Hypotheses 5 Time schedule 6 Reviews of the literature 6 Methodology and procedure 7 Sample collection and analysis 8 Validity and reliability 9 Limitation of the study 9 References 10 1. Introduction In the rapidly changing environment of globalization the dynamics of businesses have changed tremendously. The expanding new economies of the developing world have made the global market more challenging and interesting. Consequently, the business across the globe has become more competitive with wide ranging implications. The compulsions of the present times require versatility in the work ideology and functioning, thus making it imperative that new skills and strategies are evolved to meet the emerging challenges with efficiency and unmatched proficiency. Professional courses in management and administration provide the requisite knowledge based curricula that are intended to meet the challenges of the changing times. 1 (a) Statement of the problem MBA or masters in business administration is the professional course that imparts and helps to develop and understand the pros and cons of the business so that people pursuing this course are able to manage it with more proficiency and creativity. With the whole range of modules, covering the various core areas of business, the highly demanding professional degree is designed to motivate the professionals to be creative and improvise and improve the business processes to compete effectively with the changing business trends. Therefore, it is important to know whether the MBA degree, provided by the different universities are indeed able to meet with their pre-meditated goals of equipping the students with the requisite skill and knowledge that would meet the wider implications of the business acumen needed to meet the challenges of the rapidly changing times? 1(b) Purpose of the study The purpose of the study is to gauge the impact of the professional course on the creative inputs of the students in the real life situations and evaluate the extent of motivating factors which would influence his business decisions. In the era of globalization, the emerging trends in business are crucial to understand and therefore, it becomes imperative to know whether MBA produces the professionals who are not only good administrators but also develop the traits of entrepreneur and intrapreneurs who are equipped to improve and improvise the business processes to optimise the intended output, within the parameters of organizational goals and objectives. It is also important to know whether the graduates of the MBA are able to meet the criteria within the defined parameters or are sufficiently motivated to exploit their entrepreneurial skills to further improve their aims and objectives. 1(c) Research question 1. Does MBA degree just make excellent administrators or does it promote entrepreneurship within and outside the business? 2. Whether the different universities, offering MBA, vastly differ in their methodologies in imparting the core values and strategies of business processes? 1(d) Hypotheses The universities facilitate higher studies in the various spheres of humanities. Business administration is one of the most important areas of human life which is directly linked to the livelihood of the people. The professional degree in business administration helps to develop skills and strategies for business development. The emerging new trends in the business has changed the socio-economic dynamics of the society, thereby making it more competitive and at the same time more complex with the challenges of the diverse demands that has emerged as a result of global values. The professional courses in the various fields of the business are taken up by the universities so that the new breed of professionals are better equipped to not only face the challenges but also exploit the vast potentials of the emerging new markets, both as administrators and as entrepreneurs. 1 (e) Time schedule Serial Activity Time Schedule (2008) 1. Field Work June 15 – July. 05 2. Compilation of data July 06 – July 16 3. Data entry and processing July 17 – July 31 4. Data analysis and evaluation Aug. 01 – Aug. 14 5. Writing and printing July 15 – Sept. 04 6. Submission of report 5 Sept. 2008 2. Review of the literature The imperatives of the global business environment have transformed the traditional business practices to suit the business and cultural compulsions of the emerging globalization. In his article ‘Redefining MBA’, Weisman has quoted Rakesh Khurana, Professor at Harvard Business School who says ‘schools are trying to redefine what business leaders need to know’ (Weisman, 2007). The B-schools are rapidly changing and improvising their curricula to suit the demands of the changing times. Stein in his article reasserts that even Harvard B-School has introduced new courses on ‘entrepreneurial management’ and quotes Carl Kester ‘the course now gives students the chance to identify opportunities and implement strategies within the context of small, rapidly growing firms’ (Stein, 2000). Pinchot has defined intrapreneurship as ‘harnessing of entrepreneurial behaviour within the large company or institution’ (Pinchot 1985). Morris of Syracuse University states that ‘to meet the challenges of the global business environment in the 21st century, the engineer/scientist requires not only a high degree of professional competence in technical aspects but also a fundamental grasp of the entrepreneurial process’ (Morris). Henry Mintzberg, the renowned management guru, in one his interview to Vogi has said that the traditional MBA programs do not cater to real life situations and therefore they teach theories which have little practical use in the changing times. According to him ‘I have nothing against the MBA so long as its recognized for what it is, which is training in the business functions. … the fact that there are other ways to manage and, correspondingly, other ways to develop managers’ (Mintzberg, interview with Vogi). 3. Methodology and Procedure The proposed research study would be qualitative in nature but encompass elements of quantitative research also so that better and more accurate conclusions could be achieved. Qualitative research demonstrates and facilitates deeper understanding of the problem and helps to investigate the context in its entirety. 3.1 Sample collection and analysis Measurement techniques would comprise of questionnaires and interview schedules. Sample size of around 100, comprising of students and staff of university in and around Birmingham would be taken up. Primary data collection would be collected through detailed and qualitative and quantitative questionnaires prepared, whereas interviews can be carried out in one to one settings or can be in a group setting, often referred to as a focus group (Krueger, 1994). Because of the exploratory nature of the research, sampling becomes one of the most significant factors and therefore a judicious selection of sample becomes the mainstay of the research. Secondary information sources such as libraries, commercial bibliographic databases for peer review, internet resources and e journals would be used for literature review. Data analysis would be undertaken by applying appropriate statistical techniques and developing patterns. Software like SPSS would also be used to analyze the data using different techniques and interpreting the data in the wider context to understand the intricacies of changing business paradigms that influence business decisions. 4 Validity and reliability Validity is not the main concern of the qualitative research as the main purpose of the researcher is the deeper understanding of the views and thoughts of the persons rather than validation. Judicious and careful selection of sample would ensure the reliability of the data so that study would help to evaluate the existing modules of the various areas of business administration and would also help to analyse the needs and requirements of the changing business compulsions so that more innovative approach is encompassed in the B-Schools to meet the challenges of global and domestic competition. Limitations of the study The study would be limited to the framework of wider implications of the aims and objectives of the B-Schools where entrepreneurial traits like innovative approach and leadership qualities are encouraged to exploit the emerging business opportunities. Sampling would be limited to the individuals that are directly or indirectly linked with the universities taken. Lack of absolute validity of obtaining proof and limitation of sample size because of financial constraints is also one of the reasons cited for accurate and efficient analysis of the factors that may have significant impact on the study. Reference Krueger, Pergamon, R. A. (1994) Focus groups: A practical guide for applied research. Sage, Thousand Oaks, CA. Lohr, H (1999) Sampling: Design and Analysis. Duxbury. Morris, Michael. Entrepreneurship and Emerging Enterprises. Available from: [Accessed 11 June 2008]. Pinchot, G. (1985), Intrapreneuring. Harper and Row. New York. Stein, Nicholas. (17 April, 2000). The New B School: Cheap Advice, Great Networking startp university. Available from: < http://money.cnn.com/magazines/fortune/fortune_archive/2000/04/17/278055/index.htm> [Accessed 11 June 2008]. Vogi, A.J. Managerial Correctness. Interview with Henry Mintzberg. Available from: [Accessed 11 June 2008]. Weisman, Robert. (14 October 2007). Redefining the MBA. 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