An interesting article in Inc. magazine looks at the pros and cons of MBA’s for future entrepreneurs. CEO Cliff Oxford shares his thoughts about why MBA’s are no longer a good idea, since they can’t keep pace with the speed of business today.
Oxford says, “Go only if you find a program that offers real-world experience, working alongside someone who is building a business. Otherwise, while I wouldn’t say the current traditional M.B.A. is useless, it is pretty much like having athletes studying game film but never practicing on the field.” We couldn’t agree more. That’s exactly why Praxis was launched.
The article questions the conclusion that MBA’s are not ideal for entrepreneurs, especially since so many successful entrepreneurs have them. It’s a good question, but until more options exist, so many people will take the typical higher education path that of course some will be successful. The real question is whether or not that costly, time-consuming path was the best, or only, way.
From the article:
“Some say a classroom will never be able to teach business survival skills, like coping with failure and the pitfalls of optimism. Others assert that the six-figure price tag could be better spent. Then there’s the notion that there are too many people out there sporting M.B.A.’s these days–so the degree no longer carries the distinction it once held.”