John Danner, Senior Fellow, Lester Center for Entrepreneurship, Haas School of Business, UC Berkeley
Conversely, big company managers need to understand what it takes to really listen to customer’s needs and wants, be willing to improvise as well as maintain high quality consistency, and give their people freedom to explore as well as execute new ideas. These are precisely the skills and culture that entrepreneurs relish, whether by personal style or market necessity or both.
But, today’s business schools train students to manage the enterprises of yesterday’s successful entrepreneurs. Classes focus on the issues involved in running large, established companies. Indeed, many MBA graduates see their future careers in the offices and cubicles of these firms. The crucible for both entrepreneurship and innovation usually requires experimentation, failure, reformulation and resilience. Reality is probably the best teacher for this.
Even business schools can provide such a crucible, by encouraging students to “creatively collide” with one another’s ideas, and experiment with their business visions early and often knowing that failures are highly likely but also represent superb learning opportunities to improve strategies for later efforts. The more interdisciplinary the crucible, the better opportunities for experimenting and learning at an early stage.
Profound economic growth, not to mention meaningful improvements in global security and environmental sustainability, will not come from today’s markets in the developed world; it will come from new ventures, products and services focused on the needs and aspirations of the four billion people who now live on less than $10 a day. This is where the future and fate of capitalism resides.
That’s the entrepreneurial challenge for which B-schools need to prepare their students, whether as future CEOs and business managers responsible for ensuring their large corporations survive for another generation, or as would-be entrepreneurs courageous enough to create the next “Power 100s” of the world.
But, today’s business schools train students to manage the enterprises of yesterday’s successful entrepreneurs. Classes focus on the issues involved in running large, established companies. Indeed, many MBA graduates see their future careers in the offices and cubicles of these firms. The crucible for both entrepreneurship and innovation usually requires experimentation, failure, reformulation and resilience. Reality is probably the best teacher for this.
Even business schools can provide such a crucible, by encouraging students to “creatively collide” with one another’s ideas, and experiment with their business visions early and often knowing that failures are highly likely but also represent superb learning opportunities to improve strategies for later efforts. The more interdisciplinary the crucible, the better opportunities for experimenting and learning at an early stage.
Profound economic growth, not to mention meaningful improvements in global security and environmental sustainability, will not come from today’s markets in the developed world; it will come from new ventures, products and services focused on the needs and aspirations of the four billion people who now live on less than $10 a day. This is where the future and fate of capitalism resides.
That’s the entrepreneurial challenge for which B-schools need to prepare their students, whether as future CEOs and business managers responsible for ensuring their large corporations survive for another generation, or as would-be entrepreneurs courageous enough to create the next “Power 100s” of the world.
Source : IIPM Editorial, 2012.
An Initiative of IIPM, Malay Chaudhuri
and Arindam Chaudhuri (Renowned Management Guru and Economist).
For More IIPM Info, Visit below mentioned IIPM articles.
Zee Business Best B-School Survey 2012
Prof. Arindam Chaudhuri's Session at IMA Indore
IIPM IN FINANCIAL TIMES, UK. FEATURE OF THE WEEK
IIPM strong hold on Placement : 10000 Students Placed in last 5 year
IIPM's Management Consulting Arm-Planman Consulting
Professor Arindam Chaudhuri - A Man For The Society....
IIPM: Indian Institute of Planning and Management
IIPM makes business education truly global
Management Guru Arindam Chaudhuri
Rajita Chaudhuri-The New Age Woman
IIPM B-School Facebook Page
IIPM Global Exposure
IIPM Best B School India
IIPM B-School Detail
IIPM Links
An Initiative of IIPM, Malay Chaudhuri
and Arindam Chaudhuri (Renowned Management Guru and Economist).
For More IIPM Info, Visit below mentioned IIPM articles.
Zee Business Best B-School Survey 2012
Prof. Arindam Chaudhuri's Session at IMA Indore
IIPM IN FINANCIAL TIMES, UK. FEATURE OF THE WEEK
IIPM strong hold on Placement : 10000 Students Placed in last 5 year
IIPM's Management Consulting Arm-Planman Consulting
Professor Arindam Chaudhuri - A Man For The Society....
IIPM: Indian Institute of Planning and Management
IIPM makes business education truly global
Management Guru Arindam Chaudhuri
Rajita Chaudhuri-The New Age Woman
IIPM B-School Facebook Page
IIPM Global Exposure
IIPM Best B School India
IIPM B-School Detail
IIPM Links
