Overcoming Entrepreneurial Challenges: How Robert Kennedy College’s Online Degrees Transform Your Journey

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Embarking on an entrepreneurial journey today is both exhilarating and intimidating. The world of entrepreneurship offers vibrant opportunities as well as challenges that can make success appear elusive. Entrepreneurs must navigate shifting market trends, technological advancements, and the need to innovate while ensuring financial stability. Thankfully, acquiring the proper knowledge, skills, and strategies can change the game—and an online degree from Robert Kennedy College (RKC) can be transformative!

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Based in Switzerland, RKC offers cutting-edge online programmes in collaboration with esteemed British universities, including the University of Cumbria, York St John University, the University of Salford, and the University of Gloucestershire. These programmes are designed to equip professionals with vital tools for success in competitive fields. Especially for entrepreneurs, RKC’s flexible and pertinent offerings address their specific challenges, providing practical and impactful solutions.

Challenge 1: Staying Relevant in a Rapidly Changing Market

In today’s dynamic landscape, modern entrepreneurs face significant challenges in maintaining relevance amidst constant market transformations. Factors such as evolving consumer preferences, rapid technological advancements, and fluctuations in the global economy require that businesses not only remain aware of these changes but also be prepared to adapt at a moment’s notice. This adaptability is crucial for survival and success, as the ability to pivot quickly can determine a company’s competitive edge and long-term viability.

How RKC’s Degrees Can Help: RKC’s programmes are designed to integrate real-world case studies and industry trends. For example, the MBA in Entrepreneurship and Innovation equips entrepreneurs with the skills and knowledge to engage effectively in the creation and growth of high-impact business ventures in the creative, social, and technology sectors. Courses that focus on strategic thinking, entrepreneurship, leadership, and innovation enable students to anticipate changes and position their businesses for long-term success.

Challenge 2: Managing Financial Constraints

Managing finances is an ongoing challenge for entrepreneurs, especially those just starting their journey. They must skillfully navigate budgets, monitor cash flow carefully, and explore various avenues to secure essential funding. Achieving these financial goals requires a solid understanding of key economic principles, which can significantly influence the sustainability and growth of their business. Entrepreneurs frequently face fluctuating market conditions, unexpected expenses, and the pressure to invest in their business while managing operational costs. Therefore, gaining financial literacy not only aids them in making informed decisions but also prepares them for potential financial difficulties and opportunities in the competitive market.

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How RKC’s Degrees Can Help: The finance programmes at RKC offer entrepreneurs a comprehensive and rigorous education in advanced financial management techniques. This programme encompasses in-depth modules covering critical areas such as corporate finance, where students learn to analyse and manage an organisation’s financial resources effectively. The financial risk management module equips students with the skills to identify, assess, and mitigate financial uncertainties that could impact an organisation’s success. The investment strategies module also provides insights into making strategic investment decisions that maximise returns while minimising risks. Collectively, these components empower students to make informed financial decisions that enhance profitability and ensure the long-term stability and sustainability of their businesses.

Moreover, RKC’s online degrees are cost-effective, enabling entrepreneurs to upskill without incurring significant costs. The flexibility of paying in instalments further alleviates financial strain.

Challenge 3: Building Leadership and Team Management Skills

Great ideas require great teams to transform visions into reality. However, numerous entrepreneurs encounter challenges in effectively leading and managing their teams, particularly as their businesses grow and expand. This challenge often becomes more complex, as scaling can introduce new dynamics within the team, create pressure to innovate and necessitate enhanced communication strategies. Entrepreneurs must cultivate strong leadership skills and implement effective management practices to navigate these obstacles successfully. The ability to inspire and unite a team is essential in turning ambitious ideas into successful outcomes, and those who excel in this area have a greater chance of thriving in competitive markets.

How RKC’s Degrees Can Help: RKC’s educational philosophy regards leadership as a fundamental cornerstone. The MBA programme in Leadership and Sustainability emphasises the development of transformational leadership qualities among its entrepreneurs. The curriculum comprises modules on organisational behaviour, leadership, and sustainability, equipping students with the skills and insights necessary to guide their businesses through growth and transition phases successfully. This approach enhances individual leadership capabilities and prepares entrepreneurs to make a significant impact in their organisations and communities.

Challenge 4: Balancing Personal and Professional Life

The entrepreneurship journey is often characterised by long working hours, which can significantly encroach upon personal time and relationships. Consequently, burnout becomes a prevalent challenge faced by entrepreneurs. This state of physical and emotional exhaustion not only affects an individual’s health but also has detrimental effects on productivity and the quality of decision-making. When one experiences burnout, the ability to think creatively and strategically diminishes, resulting in poorer outcomes and a less sustainable work-life balance.

How RKC’s Degrees Can Help: One of the most significant advantages of RKC’s programmes is their flexibility. The online format allows entrepreneurs to study at their own pace, making balancing learning with professional and personal commitments easier. This flexible approach enables students to pursue self-improvement without compromising their well-being or family life.

Challenge 5: Navigating Technological Advancements

Navigating the fast-paced world of technological advancements can present a significant challenge for entrepreneurs, particularly those without a technical background. However, these individuals need to embrace technology, as this fosters innovation and provides a competitive advantage in the marketplace. Without leveraging technological tools and methods, businesses risk falling behind in an increasingly competitive environment, underscoring the importance of adapting to technological changes.

How RKC’s Degrees Can Help: RKC programmes incorporate modules on technology and its applications in business. For example, the MSc in Information Systems Management is ideal for entrepreneurs seeking to leverage technology to optimise operations, enhance customer experiences, and drive innovation. Entrepreneurs are exposed to concepts such as digital transformation, data analytics, and cybersecurity, which are indispensable in today’s tech-driven world.

Challenge 6: Expanding Globally

In an increasingly interconnected world, having the ability to operate on a global scale is a significant advantage. However, navigating international markets presents challenges, including cultural differences, regulatory compliance, and logistical complexities.

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How RKC’s Degrees Can Help: RKC’s curriculum is inherently global in focus, attracting a diverse student body from around the world. This exposure to different perspectives and business practices enhances an entrepreneur’s ability to operate internationally. Programmes like the LL.M in International Business Law provide insights into cross-border transactions, trade agreements, and regulatory frameworks, ensuring entrepreneurs are well-prepared for global expansion.

Challenge 7: Mastering Strategic Thinking

Strategic thinking is an essential skill for entrepreneurs, pivotal in navigating the complexities of the business world. To effectively cultivate this mindset, one must develop a profound understanding of several key elements: market forces influencing supply and demand, competitive landscapes dictating the dynamics between businesses, and the principles of long-term planning crucial for sustainable success. This comprehensive grasp enables entrepreneurs to make informed decisions, anticipate challenges, and capitalise on opportunities, ultimately contributing to the growth and longevity of their ventures.

How RKC’s Degrees Can Help: RKC’s programmes emphasise strategic thinking across all disciplines. Our online degree programmes are designed to develop analytical and problem-solving skills. Entrepreneurs learn to formulate effective business strategies, identify growth opportunities, and mitigate risks. Case studies and simulations provide practical experience, enabling students to apply theoretical concepts to real-world scenarios.

Challenge 8: Building a Professional Network

Entrepreneurship can often feel like a lonely journey; cultivating a strong professional network is crucial for achieving success. Engaging in networking activities facilitates access to potential partnerships and offers invaluable mentorship and support. The connections formed through networking can lead to collaborative opportunities, enhance business visibility, and provide guidance from experienced individuals in the field. Therefore, developing these relationships is not merely advantageous but essential for entrepreneurs navigating the challenges of their ventures.

How RKC’s Degrees Can Help: RKC’s OnlineCampus is a dynamic platform that connects students from over 150 countries, fostering a vibrant and diverse community of professionals. This extensive global network not only facilitates knowledge exchange among peers but also encourages the sharing of unique experiences, enabling students to form meaningful relationships that often extend well beyond their academic programmes. This enhances the educational experience and prepares students for successful careers in an interconnected world.

Challenge 9: Achieving Personal Growth

Entrepreneurship represents a multifaceted journey that intertwines personal development with professional achievement. It demands that entrepreneurs focus not only on their business goals but also on cultivating essential qualities such as resilience—the ability to bounce back from setbacks—and adaptability, which allows them to pivot in response to changing circumstances. Furthermore, embracing a lifelong learning mindset is crucial; it encourages constant improvement and acquiring new skills, enabling entrepreneurs to effectively navigate the inevitable complexities and challenges of building and sustaining a successful venture.

How RKC’s Degrees Can Help: The challenging yet adaptable academic environment at RKC encourages students to expand their limits. Through various coursework and engaging learning experiences, entrepreneurs cultivate critical thinking, adaptability, and self-discipline. These attributes not only enhance professional skills but also foster personal development.

Modern entrepreneurs encounter challenges such as market uncertainties and financial pressures, yet these can foster growth and innovation. They acquire the skills to overcome obstacles and thrive in a competitive landscape by investing in education.

An online degree from Robert Kennedy College combines academic rigour, flexibility, and practical relevance. Students can master strategic management, international business law, or technology for growth, acquiring essential tools for success. Furthermore, RKC’s global community and networking promote personal and professional development.

Choosing Robert Kennedy College represents a strategic investment for entrepreneurs, tackling today’s challenges and equipping them for future opportunities. They can realise their aspirations and make a difference in the world with the proper education and mindset.

Do You Have the Right Entrepreneurship Skills to Start Your Own Venture? Here Are the Top Seven Skills Every Entrepreneur Should Have

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Embarking on the entrepreneurial journey is both exhilarating and daunting. It demands more than just a brilliant idea; it requires a set of specific skills that are essential for transforming that idea into a successful venture. Whether you’re a seasoned professional or a newbie contemplating your first startup, understanding and honing these skills can significantly impact your entrepreneurial success. Here are the top seven skills every entrepreneur should have:

1. Visionary Thinking

A successful entrepreneur doesn’t just see the world as it is; they envision what it could be. Visionary thinking involves the ability to anticipate future trends, recognize opportunities, and imagine innovative solutions. This skill helps you set long-term goals and navigate through the inevitable uncertainties of starting a business. Cultivating a strong sense of vision allows you to stay motivated and inspire others to join you on your journey.

How to Develop It: Regularly engage in strategic planning, study market trends, and immerse yourself in industry developments. Don’t be afraid to dream big and think outside the box.

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2. Resilience and Adaptability

The road to entrepreneurship is rarely smooth. Challenges, setbacks, and failures are part of the process. Resilience is the ability to bounce back from these difficulties, while adaptability refers to your capacity to adjust your strategies in response to changing circumstances. Together, these traits enable you to persevere through tough times and pivot when necessary.

How to Develop It: Build a strong support network, practice stress management techniques, and stay flexible in your approach. Embrace failure as a learning opportunity and remain open to change.

3. Financial Acumen

Understanding the financial aspects of your business is crucial. This includes budgeting, financial forecasting, managing cash flow, and interpreting financial statements. Financial acumen ensures that you make informed decisions, avoid common pitfalls, and maintain the financial health of your business.

How to Develop It: Educate yourself about financial principles, consider taking courses on accounting and finance, and seek advice from financial professionals. Hands-on experience with financial planning can also be invaluable.

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4. Leadership and Team Building

An entrepreneur is often the leader of a team, and effective leadership is key to building a motivated, cohesive group. Strong leadership involves not only guiding and inspiring your team but also making strategic decisions and fostering a positive work environment. Team building skills are essential for recruiting talent, delegating tasks, and creating a collaborative culture.

How to Develop It: Work on communication skills, learn about different leadership styles, and invest time in team-building activities. Seek feedback from your team and be open to improving your leadership approach.

5. Marketing and Sales Skills

Marketing and sales are the lifelines of any business. You need to effectively promote your product or service, understand your target market, and develop strategies to reach and engage customers. This involves creating compelling messaging, utilizing digital marketing tools, and mastering sales techniques to convert leads into loyal customers.

How to Develop It: Stay updated on marketing trends, experiment with various marketing strategies, and analyze your results. Networking with industry experts and attending workshops can also enhance your marketing and sales skills.

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6. Problem-Solving and Critical Thinking

Entrepreneurs are faced with numerous problems that require innovative solutions. Problem-solving skills involve identifying issues, analyzing options, and implementing effective solutions. Critical thinking allows you to evaluate situations objectively and make decisions based on logic and evidence.

How to Develop It: Practice analyzing case studies, engage in strategic games or simulations, and approach problems with a structured methodology. Encourage feedback and learn from your problem-solving experiences.

7. Networking and Relationship Building

Building and maintaining relationships with customers, partners, investors, and other stakeholders is vital for business growth. Networking skills help you connect with influential individuals, gain valuable insights, and create opportunities for collaboration. Strong relationships can open doors to new resources and support systems.

How to Develop It: Attend industry events, join professional organizations, and actively engage in online communities related to your field. Focus on building genuine, mutually beneficial relationships rather than simply collecting contacts.

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Starting and running a successful venture requires a blend of various skills. While no one is born with all these skills, many can be developed through education, experience, and perseverance. Assess your strengths and areas for improvement, and seek resources or mentorship to bolster your capabilities. By cultivating these top seven entrepreneurship skills, you’ll be better equipped to navigate the entrepreneurial landscape and turn your vision into a thriving business.

Are you ready to assess your skills and take the leap? The entrepreneurial world awaits your unique contributions and innovative ideas.

Check out the various Master’s programme we offer including Entrepreneurship and Innovation to kickstart or rocket-fuel your career growth: list of online bachelor/master/PhD programmes.

You can also chat LIVE on WhatsApp with one of our Education Advisors for more information on the application process, and the discounts we might offer.

Unveiling the Tapestry of 2023: Top 10 Highlights That Defined the Year

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As we bid farewell to 2023, it’s time to reflect on the myriad events and milestones that shaped the course of the year. From technological breakthroughs to cultural shifts, 2023 was a rollercoaster of innovation and transformation. In this blog, we’ll unveil the top 10 highlights that stood out and left an indelible mark on the fabric of 2023.

1. Quantum Computing Breakthroughs

In 2023, quantum computing made unprecedented progress, reaching the milestone of quantum supremacy. This achievement has far-reaching implications, promising solutions to intricate problems at speeds unimaginable with traditional computers, particularly in fields like cryptography, drug discovery, and climate modeling.

2. AI’s Influence in Healthcare

Artificial Intelligence continued its penetration into the healthcare sector, reshaping diagnostics, treatment strategies, and patient care. AI-driven tools showcased remarkable accuracy in early disease detection, personalized treatment plans, and overall healthcare enhancement.

3. Global Climate Accords

As climate change concerns reached a critical juncture, nations around the world came together in 2023 to forge ambitious global climate accords. Commitments to reduce carbon emissions, transition to renewable energy sources, and protect biodiversity marked a collective effort to address the urgent challenges posed by climate change.

4. Space Tourism Takes Off

The space race evolved into a new era in 2023, with commercial space tourism becoming a reality. Several private companies successfully launched missions, enabling civilians to partake in the adventure of space travel. This marked a significant stride in making space exploration more accessible to the public.

5. Metaverse Surge

The concept of the metaverse gained unprecedented traction in 2023. Major technology companies invested heavily in virtual reality (VR) and augmented reality (AR), creating immersive digital realms for work, socializing, and entertainment. The metaverse emerged as a hub for innovation and collaboration.

6. Advancements in Biotechnology

Biotechnology made groundbreaking strides in 2023, with advancements ranging from CRISPR-based gene editing to revolutionary treatments for previously incurable diseases. These breakthroughs raised ethical questions but also offered new hope for addressing genetic disorders and improving overall human health.

7. Shifts in Remote Work Culture

The way we work underwent a transformative shift in 2023. Remote work, once a necessity, became a preferred mode for many companies. This change not only impacted work culture but also influenced urban planning, as cities reimagined themselves to accommodate a more decentralized workforce.

8. Renewable Energy Dominance

Renewable energy continued its ascent in 2023, surpassing expectations in terms of efficiency and affordability. Solar and wind power, in particular, became dominant sources of energy globally, contributing to a significant reduction in reliance on fossil fuels.

9. Tech Ethics and Regulation Focus

Amid rapid technological advancements, there was an increased emphasis on ethical considerations and regulatory frameworks in 2023. Governments and tech companies collaborated to establish guidelines for responsible AI use, data privacy, and digital security, ensuring a balanced approach to the benefits of technology.

10. Global Health Resilience

The lessons learned from the COVID-19 pandemic led to unprecedented collaboration in global health in 2023. This resulted in more robust health systems, improved vaccine distribution, and enhanced preparedness for future health crises.

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As we conclude the narrative of 2023, these ten highlights underscore the innovation, adaptability, and collective endeavors of humanity. The year was characterized by a fusion of technological breakthroughs, societal transformations, and a shared commitment to addressing global challenges. These standout moments will undoubtedly shape the trajectory of the years to come.

Here’s wishing all our readers, from the management and staff of Robert Kennedy College, a very Happy New Year 2024! We hope to see you as one of our proud Master’s and PhD students at RKC. Find a programme suitable to you, talk live to one of our education advisors, and apply now!


   

   
   


   


   

Top 5 Master’s programmes trending in 2022 

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The purpose of pursuing a master’s programme could be many, advancement in career, aiming for a higher salary, growth opportunities, thirst for knowledge, switching careers, etc. A Master’s degree can be pursued to add knowledge on the subject already studied in an undergraduate degree or a new subject regardless of what was learned earlier. It could be your second degree, one of the several you pursued through the career or the very first degree you wanted to earn and get that formal qualification.  

There are numerous options and specialities that you can choose as your major for your master’s degree. However, a few majors have become hugely popular amongst students as these are in great demand by employers, offering better career prospects and employment opportunities.  

So, which master’s programme has made it to the top of the list in 2022? Let’s have a look: 

Top 5 Master’s programme in 2022

1. Project Management 

Just as the name suggests, a project manager takes the lead role in planning, organising and completing a project. Since the project manager skills are easily transferable, they can work in any industry such as banking, tech, retail, pharma, or telecom industry, to name a few.   

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There has been an ever-increasing demand for project managers, and the economic hit suffered due to Covid-19 across the globe has only strengthened the need for project managers. The disruptions caused by the pandemic have resulted in governments earmarking and spending trillions of dollars on recovery projects.  

With millions of new projects across several industries being put into production, project management is here to stay.  

2. Procurement, Logistics and Supply Chain Management  

Another hugely sought-after specialisation in 2022 is supply chain management. The entire world faces supply crunches for several goods and essentials, with most being back ordered for months. The role of a good supply chain manager is to analyse business processes, identify efficient procurement sources, establish a stable, reliable, and cost-efficient logistics network, and always ensure sufficient inventory levels while minimising costs.  

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A master’s degree in the field will ensure global career opportunities in purchasing, logistics and consulting.  

3. Leading Innovation and change 

In any business or organisation, change is inevitable. If you are a professional leading and supporting innovation and change in the organisation or community, this specialisation is right for you. A good innovation manager must be good at managing projects and managing change. They help shape the organisation’s culture and processes and provide necessary training to ensure innovative success. Modern organisations provide ample opportunity and rewarding careers for innovators in different roles such as Chief innovation officer, Business development lead, Innovation consultant, Change agent, Innovation strategist and Transformation manager.  

4. Healthcare Management 

If you are looking for a rewarding career focused on healthcare, a master’s degree in healthcare management can jumpstart your career in the field. As a healthcare administrator in roles such as healthcare consultant, Clinical Director, Administrator, and Healthcare manager, you can serve people and the community in improving their health while being on the administrative side of healthcare. There is an increasing demand for managers to look after the day-to-day operations and efficient management of resources in healthcare. 

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5. Data Analytics 

In this changing and dynamic business environment, traditional methods of doing business and catering to consumer needs is a thing of the past. Nowadays, all businesses and services are being provided online. There is a need to understand consumer behaviour and cater to their specific and, where possible customised demand. The Internet has shrunk the world, and there is a sudden influx of information and big data. Big corporations want to defeat the competition and gain valuable insights into consumer behaviour by analysing data.  

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The good news is that Robert Kennedy College offers all the above top trending specialisations of 2022. Talk to one of our advisors today about enrolling in one of these programmes! 

Can entrepreneurship and innovation be taught? 

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Can you think ‘out of the box’?

When I was in school, let’s just say a decade ago.. okay two decades ago, I remember being taught the principles of economics – theory of demand and supply, demand and supply curve, market equilibrium, price ceilings and floors, so on and so forth. Later as a business student at university, I learned about economic models and even more complex financial terms about running a business, such as behavioural economics, macro and microeconomic policies, government policies, international trade and its impact. I have no recollection of ever being asked to or being taught to ‘think out of the box’ (the economics book in this case).  

The businesses, usually large traditional corporations, family-owned companies big and small, ran on the business theories and principles established many years ago.  

Fast forward to the 21st century; I see a new world around me. The businesses are no longer just large corporations run on an old-school of thought. There has been a paradigm shift in the way the companies are run and how they are conceptualized in the first place. I am sure everyone remembers the time of late 90s and early 00s – ‘the infamous dot com/bubble era’ that vowed to change the world and as a matter of fact, it did change the world! 

The bubble burst vowed to change the world

The bubble era engendered a trend of entrepreneurship of a scope like never before. The entrepreneurs – the new gurus of the business world – worked on very different business principles and business plans. Business plans were mainly driven by the strategy of growing big fast, being ubiquitous, insanely high stock market valuations, and focusing on branding and marketing to gain market share. And to establish a new trend, the essential ingredient was innovation.  

Hence, the birth and rise of entrepreneurship and innovation.  

In today’s evolving business environment, entrepreneurship and innovation have become increasingly popular. There has been a notable rise in the entrepreneurial activities around the globe in the last decade. Even the corporations are paying heed to the increasing value of innovation and the entrepreneurial mindset in the workplace. It is now believed to correlate to organisation’s profitability and growth directly.  

Tesla is innovative entrepreneurship while Uber a scalable start-up business entrepreneurship

There are several forms of entrepreneurship, such as Innovative entrepreneurship, social, scalable start-up business entrepreneurship, big and small entrepreneurship. To give some real-life examples, Tesla aimed to innovate the automobile industry by introducing luxurious yet affordable and efficient electric cars. On the hand, Uber, a scalable start-up business entrepreneurship, started with an idea to disrupt the taxi industry and attracted various capitalists’ interest and bagged millions of dollars in investment, scaling the business to an otherwise inconceivable level, growing the company worldwide.  

All entrepreneurs have one thing in common – Innovation

And all the entrepreneurs (and their companies) like Bill Gates, Steve Jobs, Jack Ma, Elon Musk, Mark Zuckerberg, Walt Disney, J.K Rowling, Jeff Bezos (the list cannot be exhaustive), have one thing in common – Innovation. Microsoft, Apple, Alibaba, Tesla, Facebook, and Amazon witnessed tremendous business success through innovation by triggering a paradigm shift or evolving an old product with new technology.  

The benefits and increasing importance of innovation and entrepreneurship are manifold. As mentioned earlier, corporations are also realising their impact on their success. A study by Microsoft and McKinsey states that organisations show a direct correlation between employee retention and innovation, and innovative firms are more likely to retain employees. The study also reveals that companies that were assessed as having ‘innovative cultures’ were twice as likely to expect double-digit growth.  

So, the question remains if someone is a born Entrepreneur, is naturally innovative, or such attributes can be learnt, and whether individuals can be  adequately trained to be innovative entrepreneurs.  

The question remains if someone is a born Entrepreneur

“Profound growth requires innovation and, to foster innovation, you need people to feel trusted and supported to experiment and learn. There can be real returns for leaders who learn to let go and coach teams to constantly improve.”

Dr. Parke.  

To answer the question, yes, entrepreneurship and innovation can be taught, and with proper education, these skills can be mastered. By studying entrepreneurship and innovation, you can learn the underlying principles of starting a business, how to avoid common pitfalls, pitch ideas effectively, validate your product, develop a solid business model, and how to set yourself up for success in a field where failure is common. A good entrepreneurship and innovation programme will expose you to the challenges, contexts, and implications of entrepreneurship and provide you with a sense of the difficulties inherent in starting up and running a new enterprise. You will develop a critical understanding of contemporary discourses surrounding entrepreneurs and entrepreneurship as they are found in a range of national cultures and organisational contexts. The programme brings together relevant contemporary academic theory and research with a practical understanding of activities.  

We offer an online MBA Entrepreneurship and Innovation programme specifically designed to foster entrepreneurial and innovation skills to enable you to have a career managing innovation in existing firms and found new ventures. You will learn how organisations build value by applying entrepreneurial practices, the challenges and opportunities typically facing new and existing businesses, and the ability to design and implement creative strategies. Talk to one of our advisors to learn more about this and our other programmes.