How education of business administration paves the way for setting up ventures, innovations and companies

A degree in business administration provides the required approach for not only launching the innovation but also ensuring that all the domains are fueled with right growth parameters with a multi-dimensional approach.

This article encapsulates the various aspects of importance of formal education in business administration for pursuing entrepreneurial streak, building a company or taking on high ownership role in formal job environment.

A. Provides Multi-dimensional approach and viewpoint of various domains

It is utmost required to have multi-dimensional approach across various domains before setting up a venture or innovation.

It is either fueled by team-member having complementary skill-sets or by pursuing formal education in business administration.

While knowledge in rolling-out innovation and enthusiasm of the same is one aspect of the puzzle - having preliminary understanding of Financing, Product Development Approach, Marketing Channels, Team building, Operations are some of the parameters that are gained by taking on a formal education in business administration

B. Prepares acumen for right discretion to lead with empowerment

Discretion and Control are two preliminary aspects of forming business. Before taking a decision in roll-out, hiring or major innovation development - enabling the same with right discretion and control is a crucial parameter

One bad decision can lead to major cost implications leading to abrupt loss and hence closure of the venture. On the other hand, having right discretion provides approach in building assets from grounds-up and empowering individuals with right frame of mind.

Discretion provides enough distance from taking impulsive calls that may impact any crucial domain of a team-member or any functional department of a organization.

C. Harmonizing > Mitigating > Instigating

This one-line framework of empowering situations and people can be executed by absorbing case-studies of leaders who went on to turn major discrepancies into opportunities or creation

Entrepreneurship is a field of varied view-points and perspectives.

It is utmost crucial to harmonize two set of conflicting opinions or downsize viewpoints that can take away morale compass of the organization.

The ability to harmonize various abrupt parameters with virtuous growth loops, mitigate situations that may lead to chaos while supporting with right frame of mind is 1000x crucial while operating in high-risk early stage setups

Frameworks of Virtuous Growth Loops and Harmonization with thoughtful approach not only mitigates conflicts or high chaotic situations but also brings out the greater good for everyone in the longer term.

D. Appetite of continuous learning and forging innovations

An entrepreneur is inquisitive and tends to be "Absorbing Sponge" of knowledge across various domains.

Without shying away from asking questions or reading about various domains - an entrepreneur is humble enough to learn from each and everyone for bringing out the required results.

E. Having flexibility in approaching various situations and perspectives

Instead of succumbing to rigidity and viewpoints - flexibility in view-points provide required calibrations for decision making.

A rigid mindset cannot move forward and cannot take decisions by getting bogged down to parameters that have no relation with innovations or product development or operations.

By forging flexible approach along-with adaptability - an education in business administration sets one up for approaching various situations from varied perspectives while working on the same

F. Approaching high stress and high pressure situations with relative ease

There are various phases where there is extreme stress or high pressure in one or more crucial domains.

Business administration equips an individual to not only stand still in such situations but also provide results in terms of shipping new innovations or maintaining operational time-line without letting it get in the way of normal o working.

By providing equanimity and withstanding right decision making even in the face of extreme stress and high pressure situation, an education in business administration sets up the tone for ensuring operational execution in all scenarios.

G. Bringing in perspective of proportion of 200: 20 to empower corporations and individuals at large

All corporations and major team-players have faced the advent of phase - 200:20 which translates to situations where they have made huge contributions or achieved significant results vs situations where they failed or faced a tragic defeat.

While each corporation and individual have 200 instances of wins, toughness, achievements, goodness, empowering people up - there will be 20 instances where odds are higher and there are insignificant factors.

A right mindset always empowers those 200 instances and defeats 20 derogatory instances to set the tone for continued win.

“I’ve missed more than 9000 shots in my career. I’ve lost almost 300 games. 26 times, I’ve been trusted to take the game winning shot and missed. I’ve failed over and over and over again in my life. And that is why I succeed.”

- Michael Jordan

F. Stretching higher efforts in each and every field

When a normal mindset or perspective stops giving efforts for a significant timeline - business administration equips one with mindset to persist when everyone around would have thought of rolling up the casket and folding up with venture.

If 5 outreaches are not working out - one must attempt for 20

If an event has not happened after going for it 10 times, probably it requires 15 more attempts to make it happen

If there is some sort of constriction in one approach - there is a bandwidth to attempt 10 different approaches before calling it a day.

Whether it includes regulatory concerns or seeking an approval or pursuing new innovation - this set of persistence is provided by education in business administration

G. Balancing well-being and mindset while taking on lofty goals

While extrantaneous efforts are required to get a venture rolled-out, it is also required to have good well-being and mindset while taking on lofty goals

Taking up time or forming habits leading to conscious diet or spiritual fasts or walking, running or hitting up tread-mill are some of the ways to ensure that well-being is managed alongwith extrantaneous efforts

By taking on timeless wisdom from spirituality, conscious eating and various exercises by regularly taking time for recharging mind-body-soul, any dauting task can be practiced while empowering people around with good practices and well-being.

#education #empowerment #business #knowledge #innovations #frugal #capitalefficiency #entrepreneurship