Shark Tank’s Contribution to MBA
Shark Tank was able to capitalise on the business based sentiment of the Indian population. By launching into a predominantly salaried class section of the society where family-owned businesses have taken centre stage. Shark Tank, originally a British Reality TV, gained fame in the USA. Its launch in India was spearheaded by some of the first generation business owners and CEO/CFO/COO of startups. The show has gained popularity in the urban areas while it is showcasing startups and businesses started by both rural and urban populations. Several business owners and the judges or “sharks” are MBA graduates who have honed their knowledge backed by expertise and experience in the industry for years.
The Quest of Entrepreneurs
An entrepreneur or a first-generation business owner was a concept that was not unheard of but had gained a negative reputation for the number of businesses failing in the initial stages. The lockdown of 2020 and 2021 saw an exponential rise in the number of start-ups in the market. Each idea is unique, having a clear differentiator making the business grow with customers turning into consumers. Most of these entrepreneurs are MBA graduates who in the work from home situations began to tackle the problems faced in either the homes or in the sector they worked in. Most businesses have risen from the problem statements presented in the homes accompanied by the restrictions within the country. The value of an MBA is evident by the fact that the “angel investors” are all MBA graduates.
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Upskilling Benefits of an MBA
Shark Tank has shown a few key facts which are taught along with Hands-On experiences which make MBA an exclusive educational base. The benefits are:
- Develop An Elevator Pitch:
Every contestant makes an elevator pitch and presents their idea to the judges/sharks. The sharks too have made pitches in the past, this is evident from the type of questions they ask and the analysis they give of their understanding of the product/services.
- Preparation Skills:
The judges are prepared with questions based on the product/service they ask questions and gauge the responses.
- Marketing Skills:
Two of the judges/sharks are Marketing majors in the MBA sector. As a specialisation in the MBA programs, Marketing is a key fundamental in today’s time. It helps you pitch yourself as well as your ideas.
- Reality as a Case Study:
The aspirations and emotional stories of the contestants help the judges/sharks relate with concepts they have heard/met. This helps them objectively invest in the business or reject the idea.
- Hands-On Experience from Experts:
The experienced judges/sharks are actual millionaires in the business world. Listening to their stories can help you learn more about what you need to do to succeed in your own career. While you watch the show, you can also apply some of this advice to your education.
- Gain Motivation:
Being an MBA student can seem overwhelming at times, it’s important to stay motivated throughout your degree program. The show encourages you to keep up the hard work needed to graduate. The show features millionaires and aspiring millionaires whose stories can provide you with the motivation to do your best. Hearing the sharks’ stories and watching entrepreneurs succeed can be a strong source of inspiration.
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A Global Perspective:
An MBA broadens your enterprise knowledge and helps you understand the nuances of operating in a global marketplace. Many of today’s best programs include an overseas immersion trip so that graduate students have a first-hand look at how to manage a business in a global arena. Choosing a program that attracts international students will further add to the classroom diversity and enlighten the discussions. Don’t underestimate the advantage of this added benefit in today’s global economy.
A strong professional network is one of the most valuable assets that you can have in business. In a survey conducted by the Graduate Management Admission Council (GMAC), 89% of recent MBA graduates said that attending business school helped them to develop a strong professional network. This kind of network enables you to gain access to new job opportunities and may come in handy if you decide to establish your own business.
An MBA commands respect from colleagues and others in your professional community. The qualification itself carries a lot of weight, but it’s your expanded skill set that ultimately differentiates you. Whether you choose a program that offers concentrations or one focused on leadership and global management, you will be well served by the stature it conveys. Whether you are launching a new product, reorganizing a division, or starting your own company, you can do so confidently. Executive recruiters look for individuals who can provide vision and clarity while guiding a company or division through strategic challenges. Even if you are enjoying success in your current career, you may still benefit from completing an MBA program. Obtaining an MBA will open up a diverse array of new opportunities, enabling you to seek a promotion, change careers, or satisfy your entrepreneurial ambitions.
