MBA vs MSc in Entrepreneurship
Discussion
Hello,
The opportunity to do a masters degree via a training scheme at work has come up. They will pay for it and give me some time in the working week to do it. Which I think it a good opportunity for me.
I am basically in IT supporting other dept's with their projects. I like the job but plan to move on and up in a few years (I say a few because after the masters is finished I will have to stay for 18 months, unless I want to pay it back).
I am interested in new business ideas, developing better ways of doing things and startups/growing businesses, because I find them more exciting, fast moving and interesting. As apposed to huge corporations that can be lumberingly slow in comparison. I do realise that this is a generalisation.
I am attracted to doing a MSc in Entrepreneurship (basically a business masters, with an entrepreneurial focus such as this for example https://www.ice.cam.ac.uk/course/mst-entrepreneurs...
However do we think I would be better served by doing an MBA? my thinking is perhaps an MBA is more widely known and perhaps could open more doors for me?
What do we think hive mind?
The opportunity to do a masters degree via a training scheme at work has come up. They will pay for it and give me some time in the working week to do it. Which I think it a good opportunity for me.
I am basically in IT supporting other dept's with their projects. I like the job but plan to move on and up in a few years (I say a few because after the masters is finished I will have to stay for 18 months, unless I want to pay it back).
I am interested in new business ideas, developing better ways of doing things and startups/growing businesses, because I find them more exciting, fast moving and interesting. As apposed to huge corporations that can be lumberingly slow in comparison. I do realise that this is a generalisation.
I am attracted to doing a MSc in Entrepreneurship (basically a business masters, with an entrepreneurial focus such as this for example https://www.ice.cam.ac.uk/course/mst-entrepreneurs...
However do we think I would be better served by doing an MBA? my thinking is perhaps an MBA is more widely known and perhaps could open more doors for me?
What do we think hive mind?
In its traditional sense, Entrepreneurship is about the pursuit of personal commercial endeavour, reacting to a sense of what will work and what won't. I've no doubt that a MBA might help but I've known a great many highly successful Entrepreneurs over the years and you'd struggle to find an O level or GCSE amongst them.
What they do share in common is absolute knowledge about the sector from which they make their money. In other words, they became recognised 'experts or specialists' from which they capitalised upon through business.
I would suggest that devoting time to the academic study of a field specific to your chosen sector would open far more doors and be of greater benefit you than Entrepreneurship.
What they do share in common is absolute knowledge about the sector from which they make their money. In other words, they became recognised 'experts or specialists' from which they capitalised upon through business.
I would suggest that devoting time to the academic study of a field specific to your chosen sector would open far more doors and be of greater benefit you than Entrepreneurship.
FazerBoy said:
I think you’re either a born entrepreneur or you’re not - it’s not really something that can be taught.
Most of the entrepreneurs I know are not highly educated in the conventional sense.
An MBA or MSc are worth having, but in my opinion not in ‘Entrepreneurship’.
I'd agree with that ^^^. It's like people doing a degree in Business Studies thinking they will be able to go into "Business" Most of the entrepreneurs I know are not highly educated in the conventional sense.
An MBA or MSc are worth having, but in my opinion not in ‘Entrepreneurship’.
Regardless of the degree title I'd look into the course content/syllabus and see which you personally find more interesting. The more interesting it is the more enjoyable you'll find it and the less of a chore it will be every weekend when you're hitting the books.
Another thing to consider is at this level of academic study, the subject you study can be of secondary importance to the process of study. For example, you find many Lawyers having studied History. This is because to study that subject at that level develops ability in the process of analytical research.
An MBA is a bit 90's and won't get you into senior positions just because of its existence.
If I saw an MSc in Entrepreneurship on someone's CV I would be questioning why they were applying for the job, as opposed to actually being a Entrepreneur - which would imply bad decisions, or crap.
Can you not do an MSc in something technical, or something you have a passion for. The above sound like neither.
If I saw an MSc in Entrepreneurship on someone's CV I would be questioning why they were applying for the job, as opposed to actually being a Entrepreneur - which would imply bad decisions, or crap.
Can you not do an MSc in something technical, or something you have a passion for. The above sound like neither.
Thanks for the replies. The thing is it needs to be vaguely relevant to my dep't and an MBA is the obvious choice.
However I am more interested in "entrepreneurial" type of business* as apposed to huge corporate type of business.
So as I see it; they are both "business" courses, just with different focuses. I just wonder if an MBA is a better bet.
Building High Impact Ventures
Customer Development and Lean Startup
Entrepreneurial Finance
Entrepreneurial Marketing Strategy and Branding
Product Development and Prototyping
Strategic Management of Entrepreneurial Ventures
Managing The Growing Firm
However I am more interested in "entrepreneurial" type of business* as apposed to huge corporate type of business.
So as I see it; they are both "business" courses, just with different focuses. I just wonder if an MBA is a better bet.
- by this I mean getting new products of services to market, problem solving, raising finance etc.
Building High Impact Ventures
Customer Development and Lean Startup
Entrepreneurial Finance
Entrepreneurial Marketing Strategy and Branding
Product Development and Prototyping
Strategic Management of Entrepreneurial Ventures
Managing The Growing Firm
MBAs are (IMO) more recognisable and an extra string to your bow if you're applying for senior roles. I don't think anybody views them as essential but if you have a group of broadly equivalent applicants then it's one of the things that will score you extra points. It's also really enjoyable to do purely as a qualification. I met a lot of people from different backgrounds and different countries on my course.
However the key thing is that it has to be something you personally enjoy. If the MSc is striking more chords then I would suggest that's the one for you.
However the key thing is that it has to be something you personally enjoy. If the MSc is striking more chords then I would suggest that's the one for you.
Chainsaw Rebuild said:
Building High Impact Ventures
Customer Development and Lean Startup
Entrepreneurial Finance
Entrepreneurial Marketing Strategy and Branding
Product Development and Prototyping
Strategic Management of Entrepreneurial Ventures
Managing The Growing Firm
The only topic on there that I can see might have some tangible value is Entrepreneurial Finance.Customer Development and Lean Startup
Entrepreneurial Finance
Entrepreneurial Marketing Strategy and Branding
Product Development and Prototyping
Strategic Management of Entrepreneurial Ventures
Managing The Growing Firm
Everything else you will either learn as you go or by the time you need to know will have the means to appoint or commission someone to undertake that task.
I worry too that such structured learning will be detrimental to your future thinking..."I can't do that because the course said so". Entrepreneurship is, by its very nature, more fluid and free thinking.
It's entirely up to you but you will attain greater success learning about the subject of your business than how to start up and run the business.
A good place to start is to spend more time hanging around the Business section of PH and less time on Jobs & Employment Matters.
ExcitableBoy said:
An MBA is a bit 90's and won't get you into senior positions just because of its existence.
This is largely incorrect. It remains an extremely valid qualification depending on how you utilize it, and it will open doors that few other qualifications can. Add to that the network of other MBA grads you will work with and meet, and you'll find yourself with plenty of opportunities in the future. Even if you do not plan on entering the C-level positions, it will boost your career and earnings potential and will distinguish you from other job applicants. Just a cursory search for the FT500 CEO backgrounds reveals a significant proportion of them having an MBA, but, of course, there are always outliers such as Zuckerberg and Gates.
If you undertake an MBA, you'll most likely have the chance to study entrepreneurship during one of the modules, and as someone else said, pick the best-ranked school you can afford. In terms of difficulty, I believe it ranks just under a PhD but higher than the majority of other post-grad degrees.
I'm a little defensive on this subject, as I have an MBA and it's served me well. It's quite a rare qualification still, and when you meet other MBAs you immediately know their general skillset and can talk to them differently compared to people who have not been to a business school.
As you can imagine, I would recommend it.
What I've noticed is that as if anyone familiar with MBAs discovers you have one the next question is 'where from'? An MBA is hard work but and surprisingly enjoyable, but to get the career benefit it's important that it's a well recognised business school. A bit unfair on those who went to a non accredited one I reckon, but there it is.
MadCaptainJack said:
Do the MBA at the most prestigious school you can afford and get into.
A lot of toilet talked so far until this post^. This a million times this.
The best School you can wangle your employer to pay for. If its a s
t school, then m'eh at least it's free and if you have the appetite and the inclination do it. cavey76 said:
MadCaptainJack said:
Do the MBA at the most prestigious school you can afford and get into.
A lot of toilet talked so far until this post^. This a million times this.
The best School you can wangle your employer to pay for. If its a s
t school, then m'eh at least it's free and if you have the appetite and the inclination do it. lizardbrain said:
Sounds a bit 'pay to win', just from what you describe?
How does the course material compare?
So what people mean by the best school is, at least in the UK, probably the top half dozen business schools, Warwick, Imperial College, Oxford, Hull*, etc.How does the course material compare?
In these cases the accreditation is worth as much as the content. The same to a much greater extent in the US, NYU Stern, Yale, Haas, Wharton etc etc. A lot about the accreditation.
Course materials on an MBA are incredibly varied by instituition. Have a look at ICL (£54K Fees).
https://www.imperial.ac.uk/business-school/program...
Its probably what is regarded as the "classic" MBA. You do the "core" modules then pick some electives to jazz it up, make it suitable to you or whomever is paying for you, or what the sexy subject is du jour. This will be common most places and most half decent courses should have some of the normal accounting, finance, business economics which can be dry enough but in this day and age i would expect you will see lots of "digitial strategy" and the like.
Try jazzing it up with some of the more imaginitive critical thinking stuff. I never did an MBA, an electronics Msc instead as i was still a techy in those days and i was a bit underwhelmed.I have been in my industry now 20+ years and have done the odd course here and there but the greatest education opporttunity i had was getting into sales ops, sales and ultimately strategy in a US start up.
Entrepreneurship MSc sounds like a lot of sub MBA waffle. Entrepreneurship in and off itself doesn't mean you have to leave school at sixteen and be the next Mike Ashley. For the vast majority of us employment is better than self employment on a risk adjusted basis and being employed doesn't mean your are not entrepreneurial. My previous employer created a role for me recognising my entrepreneurial attitude(see attention deficit sales wonk), when a huge blue chip took us over i disappeared in to the masses, (much lower aptitude for risk in the blue chip), for a year or two before my skills were recognised and a similar role carved out.
I am a great believer in education for educations sake so assuming you are young enough, you dont have screaming kids or if you do, you have a massively understanding partner, and you have the application or ambition then bloody well do it. Get your mgmt to pay for it and immerse yourself it it. Reward said partner after the fact when you're a grump C-unit demanding piece and quiet to concentrate on assignments and papers.
Cavey
Hull* That's a special trick to catch out the Nazi spies, Blackadder taught me it!
Interesting thanks for the notes.
Yes I thought the same about Entrepreneurship Msc when I briefly looked into it.
I started my own small business and never thought about working for others, but that was more to do with me not being a good cultural fit for the kind of career path I imagine an MBA being of benefit for. I can well imagine there are plenty of employees on PAYE contracts who are taking more risks and wearing more entrepreneurial hats than me. Some of which probably have a lot of creative autonomy to spend money like it's there own.
Re price of admission, I would imagine it's also about buying a higher calibre of course mate. I bet lots of fruitful relationships are made on these courses, and for better or worse you are going to meet better connected people on a better course.
I like the hull trick. I use that kind of thing a lot in my wee business for recruitment especially. I thought I made it up on my own but perhaps i just watched too much blackadder myself as a kid .
Yes I thought the same about Entrepreneurship Msc when I briefly looked into it.
I started my own small business and never thought about working for others, but that was more to do with me not being a good cultural fit for the kind of career path I imagine an MBA being of benefit for. I can well imagine there are plenty of employees on PAYE contracts who are taking more risks and wearing more entrepreneurial hats than me. Some of which probably have a lot of creative autonomy to spend money like it's there own.
Re price of admission, I would imagine it's also about buying a higher calibre of course mate. I bet lots of fruitful relationships are made on these courses, and for better or worse you are going to meet better connected people on a better course.
I like the hull trick. I use that kind of thing a lot in my wee business for recruitment especially. I thought I made it up on my own but perhaps i just watched too much blackadder myself as a kid .
Alexandra said:
ExcitableBoy said:
An MBA is a bit 90's and won't get you into senior positions just because of its existence.
This is largely incorrect. ....
I'm a little defensive on this subject, as I have an MBA and it's served me well. It's quite a rare qualification still, and when you meet other MBAs you immediately know their general skillset and can talk to them differently compared to people who have not been to a business school.
As you can imagine, I would recommend it.
I have come across very few people around board tables that have an MBA. Those that do, like vegans, have made it very clear they do - and it hasn't made them more effective than their peers.
As a "senior leader" (
) I couldn't give two sts if someone has an MBA or not, it is not a marker of success in a role and wouldn't elevate them above those with a portfolio of relevant experience, or professional qualifications/PostGrad in a more technical discipline. I'm convinced that is the way business in the modern world is going. The MBA is a relic, I'm sorry to say. That doesn't take away the value you have received from yours l, but I think it is a hard qualification to recommend nowadays.
I assume you got yours in the 90's
ExcitableBoy said:
As a "senior leader" () I couldn't give two sts if someone has an MBA or not, it is not a marker of success in a role and wouldn't elevate them above those with a portfolio of relevant experience, or professional qualifications/PostGrad in a more technical discipline.
But it would if you were looking for someone in say a leadership role, maybe a business role built on a technical foundation. A decent MBA can enable you with a solid technical foundations in specific business requirements. ) I couldn't give two sts if someone has an MBA or not, it is not a marker of success in a role and wouldn't elevate them above those with a portfolio of relevant experience, or professional qualifications/PostGrad in a more technical discipline.Like any other degree it is a mark of a level of application. Maybe moreso its a sign someone could be arsed to go back again for another go. I dont agree with the earlier poster who claimed it was "just less than a PhD", thats nonsense obviously but as you move into leadership someone who has bothered to get appropriate qualifications, then the MBA could be the difference.
And I say that as someone who has come across my fair share of MBAnkers (note the silent W)
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