The rise of the entrepreneur - society's latest hero
If you’ve ever enjoyed an episode of TV shows like The Apprentice or Dragon’s Den, or if you follow self-made innovators like Elon Musk or Richard Branson on social media, you’ve probably experienced the allure of the entrepreneur.
Just a few decades ago, entrepreneurs were often seen as obsessive, greedy, or just plain odd. Being passionate about starting a business was seen as unsophisticated or parochial. But recently entrepreneurs have become popular heroes. Inspired by the latest tech boom led by Google, Apple, and Facebook, millions of people around the world are celebrating their achievements and hoping to emulate them. And for those who study business and management, entrepreneurialism has become one of the most important subjects.
Entrepreneurship isn’t one-size-fits-all. It’s a complex, multifaceted phenomenon which requires a solid understanding of business principles to drive success forward. The University of London’s Global MBA features four in-depth specialist modules offering expertise on entrepreneurialism and innovation, each exploring a different aspect of entrepreneurship. Those with an innovative mindset can gain an in-depth perspective of the fundamental demands of entrepreneurship, from securing and managing finance to branding and marketing strategies. When studying the Global MBA, you can also choose to gain a specialist award in Entrepreneurship and Innovation by completing three of the specialist modules and a related strategic project.
Why is the Entrepreneurship and Innovation specialism relevant for those planning to start a new business? Before you’ve even developed your concept, it’s worth having a strong understanding of exactly how entrepreneurial financing works. After all, if you can’t win any financial backing, your idea will probably remain just that - an idea. One of the reasons why the UK is undergoing a start-up boom is because of increased access to finance, thanks to initiatives like StartUp Britain.
That’s why our Global MBA features a specialist module on Entrepreneurial Finance and Private Equity. Exploring debt finance, formal and informal lending and everything in between, the module will allow you to confidently assess the different financing options available to start-ups - a crucial ingredient of success.
Innovation is another essential factor for success. Most business people understand that it’s intricately linked to entrepreneurship, without really knowing exactly how to harness its power to the vast scale required in revolutionary businesses such as Tesla, WeChat or Uber. Our Global MBA’s specialist module, Innovation and Change, evaluates innovation as a complex process. From creating an innovation strategy to assessing the core principles of innovative projects, this module gives you a rigorous toolkit with which to unleash and control transformative change.
It’s important to remember that even groundbreaking innovations require strong marketing support. The Global MBA also offers a specialist Entrepreneurial Marketing module that looks at different marketing approaches for new and established businesses. The marketing needs of start-ups are very different from those of a large, well-established corporation. The module demonstrates how small businesses can leverage their agility by utilising relationship marketing, social networking and content marketing strategies.
By linking innovation to market strategy, this module helps you learn how to utilise the techniques of marketing to develop new products and services. You will emerge able to design and build an operational marketing strategy for a start-up business or new product, critically assess marketing theories and strategies, and capable of ensuring that your organisation, product or service can successfully establish itself in competitive markets.
Even if your company is a large multinational, the lessons of entrepreneurialism are worth understanding. All companies, whether large or small, must manage change, and thanks to their agility, start-ups can offer important insights into how to do it successfully. So even if you’re not about to start your own business, you can still benefit from the power of innovative thinking.
The entrepreneurship boom shows no sign of abating. As technology and innovation continue to change our global society, those leading the way - the visionaries, the change makers, the risk-takers - will play a big role in the transformation. For those wanting to be a part of it, the best strategy is to gain as much expertise as possible. And the ever-popular MBA offers an established and proven method of gaining the understanding you need to lead a visionary organisation.
With four intakes per year, flexible study and opportunities to specialise in Entrepreneurship and Innovation, University of London’s Global MBA offers students a world-class perspective of business and management. Find out more about how the Global MBA could help you reach the next level.