An online MBA in entrepreneurship is geared toward people who want a thorough graduate education in business administration but have a particular interest in starting their own business or enterprise.
What Does an MBA in Entrepreneurship Cover?
An online MBA in entrepreneurship is a rigorous graduate program that can generally be completed in two years of full-time study. However, accelerated programs do exist for students who want to finish the program in less time by intensifying their studies. Other students opt to complete their MBA in entrepreneurship on a part-time basis and take longer so they can still meet their job and other responsibilities. Students in an online Entrepreneurship MBA program receive a comprehensive education in business administration, with core courses including financial accounting, financial management, information systems for business managers, management communication, marketing management and organizational leadership. Along with your core classes, students must also complete three to five courses pertaining directly to entrepreneurship to fulfill the specialization requirement. These classes might include opportunity recognition and venture launch, entrepreneurial finance, technology for entrepreneurs and corporate entrepreneurship. Rounding out your education will be foundational classes that introduce you to the graduate program and a series of open elective courses in business administration, such as international business, conflict resolution and human resources. Many online Entrepreneurship MBA programs require students to complete a capstone project, during which they apply what they have learned to a real-world situation. Many courses in an online MBA in entrepreneurship require quantitative and/or qualitative research on the part of students, teaching them to base their business decisions on facts and what consumers want, rather than on whims.
Getting Into an Entrepreneur MBA Program
Those interested in enrolling in an Entrepreneurship MBA program will need to have a bachelor’s degree from an accredited institution. The degree can be in subjects unrelated to business, but to better prepare for the rigors of an MBA program in entrepreneurship, undergraduate students should take classes in business theory, management basics, introduction to finance and introduction to accounting. In addition, applicants should have a minimum GPA of 2.0 for their undergraduate studies, though some schools may have higher requirements. Students should also be prepared to submit letters of recommendation, a resume detailing their work experience and GMAT test scores. For example, Ashford University does not require any additional forms other than an application and transcripts, but Walden University mandates that all applicants submit test scores, resumes and a written statement of intent.
Why Should I Get an AACSB Accredited Entrepreneurship MBA?
Before you enroll in an online Entrepreneurship MBA program, you should check to make sure it is accredited by the Association to Advance Collegiate Schools of Business. The AACSB is a nonprofit membership organization dedicated to advancing quality management education and serves as an accreditor for undergraduate, master’s and doctoral programs in business and accounting. When online MBA entrepreneurship programs are accredited, you have a reasonable assurance that you are enrolled in a school offering a quality MBA program instead of a degree mill with worthless diplomas.
Who Should Pursue an Online Entrepreneurship MBA?
An online Entrepreneurship MBA degree is most beneficial to career changers who wish to learn what it takes to start their own business or enterprise. It’s also a great degree for individuals who already run their own businesses but want to discover how to make them more successful. The degree would also benefit people who work in the corporate world and wish to move up in their company to an area that handles new ventures and innovation. Although this degree is specialized, it’s also versatile enough to help you land careers outside of entrepreneurship.
What Jobs Can an MBA Entrepreneurship Online Get Me?
- CEO (Chief Executive Officer): A CEO is often the highest-level director of a business organization. The CEO is responsible for the long-term vision of a company and is usually the final decision maker. CEOs oversee every aspect of a company’s operations and work to enhance profits and maintain clear goals. A CEO will often delegate responsibilities to fellow high-level managers. If a student uses his or her entrepreneurship degree to start a company, he or she may be the CEO.
- COO (Chief Operating Officer): Whereas a CEO is responsible for the overarching vision of a company’s future and determining ways to attain those goals, a COO is typically the one who deals with its day-to-day operations to ensure that things are going as planned. A COO is often the top executive under the CEO and is charged with helping the CEO reach company goals. COOs seek to make operations as efficient as possible and to create a work environment that is conducive to productivity. The COO monitors work flow, efficiency and profit and regularly reports to the CEO and board of directors.
- General Manager: This professional is the top manager for businesses such as restaurants, hotels, sports teams and entertainment venues. The general manager is in charge of overseeing the revenue and costs of an establishment and making decisions about direction and goals. He or she supervises other managers, makes business-wide decisions and delegates responsibilities. A career as a general manager is especially relevant to entrepreneurship students who wish to start their own businesses in the hospitality industry, such as opening a hotel or restaurant.
Top Earning Industries for Jobs
- Software Applications: $122,524-$251,611
- Information Technology Services: $115,788-$220,928
- Software Applications: $122,829-$185,336
- Management Consulting: $112,500-$196,742
- Hotel and Hospitality Management: $45,070-$61,576
- Restaurants: $39,293-$58,168
How Do I Find Online Entrepreneurship MBA Programs?
The best place to begin your search for entrepreneurship MBA schools online is the AACSB website. Rest your cursor over the “accreditation” tab and click on the “accredited institutions” tab to see a list of such schools worldwide. From there, you can start searching for ones that offer online programs with concentrations in entrepreneurship. For rankings, check out:
- U.S. News & World Report
- Bloomberg Businessweek
- Financial Times
- The Economist
Macquil.com also provides a handy top 10 list of online MBA programs, although it does not mention the entrepreneurship specialization. You can also explore the Online Education Database, which ranks online schools based on metrics such as graduation and retention rates and student-to-faculty ratios.
- Entrepreneur Magazine
- United States Association for Small Business and Entrepreneurship
- New England Journal of Entrepreneurship