Originally posted in our May 2022 Top of Mind Newsletter.
As many readers will have heard, we at ELI believe that entrepreneurial skills are what employers now require. What they have been getting, however, are those with MBAs. While not a bad skill set to develop, this article and the related study shed light on the fact that business administration still requires a degree of adaptability that many do not get from their master’s degree.
What’s more, much of the MBA teaching methodology relies on past examples, where there’s a predetermined outcome. This method has some useful applications, but it doesn’t teach learners how to engage with a problem with near-complete ambiguity. A great real-world example: how should your business handle COVID-19 for your employees and customers? There are no case studies about this, so what do you do instead?
Clearly, an emphasis on adaptability, creativity, and empathy would be useful for those leading businesses. Conveniently, these are all traits found in an entrepreneurial mindset. What’s more, they can be developed in anyone.