I am business graduate student. I am debating in which major should I specialize.?

Question

I am currently in the Commercial real estate field. Should I get a regular MBA or an MBA in Real estate development, or Entreprenuership?

What would be my best route.?? I want to own my business one day by don't know what would be a business I can own and be profitable.. What would be my best route in degree and for owning a businessw which would be easy to acquire and own?

thanks mucho!!!!

Answer 1

One of my lecturer from the USA did a research for his Masters on the usefulness of an MBA degree. He told me this:

(1) MBA is a very very general degree, it fails to meet the needs of specific fields. it's only useful if you want to be the CEO/ senior management of a big company. It is only useful if you plan to manage something very general.

(2) too many people have MBAs so it is no longer valuable

(3) Having appropriate working experiences is significantly more valuable than an MBA


I highly recommend you check out masters in accounting (graduate entry) coz money is everything in a business. About 70% of small business failed in its first year mostly due to poor financial planning or inadequate knowledge.You need to be able to manage your cash flow, calculate and report your profit, deal with the commercial law of operating a business, avoiding certain taxes, audit (check) your accounts, negotiate with clients (many clients will attempt to cheat or exploit you through numbers so if you don't have the number knowledge you are close to being a dead duck.)
If you decide to do an accounting major, do a FULL accounting course that will allow you to gain a CA (Chartered Accountants) (http://www.icaa.org.uk) and CPA. Not that you are planning to be an accountant, but alot of the courses i've seen that offered accounting majors are half baked goods that you might as well not study anything. Plus it will take you about one to two years full time to do it so it's not a big deal. go to http://www.bls.gov/oco/ocos001.htm. it will tell you the type of knowledge that you will acquire (at least generally) when you take on a full accounting degree.
Most accounting courses are easy to enter so no problems there.

As for studying an entrepreneurship major, personally i believe, if you have an entrepreneurship spirit, that is all you need (like Sir Richard Branson). What is taught in university is highly subjective and very bias.

If you are big into the investment side of things you may want to take out some finance books that teaches you how to calculate future profits and how to minimise risks. (i think you did take some financial units if you came from a real estate background).

i wish you the very best in your career :)

Answer 2

Since I don't know what you currently do in commercial real estate, or what kind of business you want to own, I will try to
be very general.

For the most part, you should use your MBA experience to fill in gaps in your work experience which will allow you to move to a higher (or at least more appealing to you) level. If you are already an expert in commercial real estate, there is little point in specializing in that, even if you intend to stay in the field. If you are currently in an entry-level job and want to stay in commercial real estate, rising through the ranks to a higher level, and then maybe start your own business, a real estate concentration would make more sense.

If you plan to use your MBA to leave the corporate world and start your own business now, then entrepreneurship would be most helpful. However, if that is a dream for the distant future, you might need to do other things first.

Finally, if you are just starting in the business world and recognize that what you are lacking are a variety of basic business skills, ranging from understanding finance and accounting to marketing and leadership, the general MBA would probably be best. That would allow you to move up in your current industry (or switch to another one), where you will then learn other skills on the job.

The good thing is that most MBA programs won't make you commit to a concentration until you near the end of your program. The MBA is primarily a generalist degree, with only a few electives at best. The only problem is that if you then decide to go a specialized route, you need to be sure that the school offers a concentration in the area which interests you.

In general, I think that school and jobs should be looked at strategically. Knowing (or thinking that you know) where you want to go next, figure out what skills and knowledge you are lacking to get there, and make sure that what you are doing will fill those gaps. I recently took a new job, and asked to have a piece added to it because I wanted to practice a particular skill which would help me get to the next level, and the job as it was originally defined did not include any activities which would allow me to do that.

Answer 3

It is an easy answer. Since you want to own your own business, you cannot go wrong with entrepreneurship. If you are in the U.S., Babson College in MA is the best in this field. It is pricey, but gets #1 ranking consistently in this field.

Answer 4

I realy think that u should not take any opinion from anybody its ur life and these r people that u dont know and they dont know u
in think the best is to do the major u like and u want
good luck