If you are someone who is passionate about entrepreneurship and wants to pursue it as a career- a Bachelor of Business Administration (BBA) degree with a specialization in entrepreneurship can be an excellent choice. The program provides students with a comprehensive understanding of business fundamentals and hones them with the skills and knowledge required to start and manage their own businesses successfully. In this article, we will explore the career scope for BBA entrepreneurship graduates.
Introduction to BBA Entrepreneurship
BBA in Entrepreneurship is an undergraduate program that provides a broad understanding of business concepts and management principles. This three-year degree program focuses on developing the skills, knowledge, and entrepreneurial mindset required to start and run successful businesses. Students learn how to identify business opportunities, create business plans, manage finances, and market products/services.
Mere theoretical knowledge will fail to acquaint students with the real world scenario. The gap between run-on-the mill college education and practical business reality is significant. A degree in entrepreneurship also includes internships in business organizations where students are exposed to real world transactions that complement theoretical inputs. As a result when a promising young entrepreneur begins to start his or her own business venture, he or she is already familiar with the terrain that they are going to encounter, thanks to the BBA (Entrepreneurship) course.
Job Opportunities for BBA Entrepreneurship Graduates
BBA in Entrepreneurship opens up a wide range of career opportunities for graduates. Here are some of the job roles that BBA entrepreneurship graduates can consider:
Like the course name itself suggests, the most obvious career path for BBA entrepreneurship graduates is to become an “entrepreneur”. The course not only helps you identify business opportunities but also equips students with the skills and knowledge required to start and manage their own businesses successfully. Graduates can create business plans, secure funding, and launch their own ventures.
In start –up businesses, judiciously managing finance is the biggest challenge as the organization is new. Simply put, the Financial Planner formulates the start-up firm’s investment strategies to achieve its strategic goals, vision and objectives. Unlike the Professional Accountant, the Financial Planner looks forward, not backward. In the world of startups, a good Financial Planner can enable a company with no revenue to achieve huge valuations from its skillfully planned projected future earnings.
Strategic Manager for Business Diversification:
In India, till recently most family owned businesses suffered from one problem – business stagnancy. Not only were the operations a long term exercise in monotonous repetition, the minds that guided traditional business were stagnant too. No more. Business attitudes have undergone sea changes in the country in the last two decades and new ideas driving business innovation. Now younger generations have learnt that to diversify and grow by making optimum use of business assets is the only way forward. Great business start-ups such as OYO or Zomato were the products of highly spirited business minds that tried to break new grounds. The Strategic Manager constitutes one of the core think-tanks who contribute to the creative stimulus of business start-ups and guise new ventures towards the road of success.
Liaison Professionals with Regulatory Bodies:
As new laws, regulations, and other compliance orders are introduced by the government, the need for more visible and strategic management of a firm’s complex regulatory relationships arose. Today most companies have a post of Liaison Professionals with Regulatory Bodies or Regulatory Liaison Officer (RLO) sometimes referred to as Regulatory Affairs Officer or Head of Regulatory Relations, etc.
The organization’s RLO acts as a central point of contact with government regulators. They do this on behalf of executive management and the board of directors. The RLO functions as trusted Liaison Officer for all matters related to government regulatory compliance. In a business start-up, the function of the RLO is significant. This is because all the initial regulatory frameworks related to incorporation need to be carefully complied with.
Risk Managers / Risk Assessors:
Risk is an inalienable component of all businesses. These include market volatility, widespread economic changes, geopolitical crises, regulatory reforms among others. The Risk Managers primary task is recognize and mitigate theses risks as efficiently as possible. For a start-up entrepreneur, identifying and managing risks is vital. This is because start-ups cannot afford to absorb failures. The start-up firm has to tackle the risk of buying the right product from the right vendor at the right price, constantly enhance his understanding of customer preferences to deliver the right product at the right time to the right customer. The Risk Manager designs the risk-mitigating framework in a way to ensure successful marketability of the product in the face of all odds.
When raising capital for a start-up venture, the first step is to determine the company’s worth. Start-ups begin with little or no revenue or profits face uncertain futures. In such a scenario the task of determining the valuation of the start-up is a challenging one. Start-up valuation is more of an art than a science. The Valuation Expert undertakes the complex task of assigning a value or net worth to a start-up company.
We can see that BBA in Entrepreneurship offers exciting job prospects. It also trains young students to evolve as promising entrepreneurs. There are in fact opportunities galore as being a specialization course, it adds the cutting edge to your Curriculum Vitae.