Stepping out confidently
Yeow continues, “I would also not have had the opportunity to learn and engage in discussions inside and outside the classroom with an incredibly diverse and talented group of people.”
Working with a mobile app start-up that connects customers with local service providers, Yeow believes there is also a lot of value to realise through maintaining good relationships, especially between academia and the start-up industry.
He adds that subjects during his MBA programme such as behavioural science, negotiations and marketing analytics were also useful in his line of work.
Tang Tze Chin, who mentors start-ups with Project Brainchild supported by Khazanah Nasional, believes the MBA programme has allowed him to understand more about a business and build upon his previous technical degree in software engineering.
“The MBA provided an opportunity and a platform to broaden my thinking beyond my initial skill set and that has helped me professionally as I am mentoring start-ups and young founders.
“It allows me to see the connections and factors affecting start-ups as well as guide and coach them towards solutions,” says Tang.
He adds that he would likely continue to look at business challenges as a technology problem if it were not for his MBA experience.
Making informed decisions
Despite these factors and how an MBA has worked for individuals, certain quarters believe there is more to starting a business than acquiring theoretical knowledge.
Datuk Prof Joseph Adaikalam, executive chairman of Binary University of Management and Entrepreneurship, says, “An MBA still emphasises and prepares one to become a future chief operating officer or senior manager.
He adds that managerial experience is needed on top of industry-specific knowledge and skills to reach the higher levels in the corporate sector.
In an opinion piece published by Forbes, serial entrepreneur and lecturer at the University of California, John Greathouse, says start-ups primarily require execution over administration.
He explains that MBA holders may fail in start-ups because these companies spend considerable time in discovery mode, defining the company’s value proposition, target markets, business model and setting the best pricing for products.
Thus, start-ups need people who can identify the problems along with MBA graduates who are more in tune with solving known problems with sufficient data.
Start-ups also seldom have the necessary time, information or funding to carefully evaluate each business strategy – forcing directors with limited resources to place greater value in carrying out individual tasks rather than analysis.
Greathouse also highlights that, surprisingly, there are MBA programmes that continue to stick to old case studies that lack relevance in a modern society.
Another reason is that MBA graduates often have aboveaverage salary expectations – figures that are significantly higher than what a start-up can offer.
Due to lifestyle and family obligations, few are also able to afford being an unpaid entrepreneur in an uncertain business or economy.
Ever mindful
The wide selection of MBA programmes available at universities is testament to the success of MBA and its global demand.
However, it is a combination of variables that will enable one to be successful across any industry.
From working in a multinational corporate setting to managing a start-up, an MBA holder has to ensure that he is constantly aware of the challenges that can arise as part of a business – this includes staying updated with current trends, exchanging ideas with peers and maintaining good relationships with all stakeholders.
Many start-up or business owners can attest that an MBA is not a requirement for a successful company but the concepts, network and training provided in the programme will no doubt give graduates a clearer picture of future challenges.