Business education is not to get jobs but to create them

Generally, whenever students are looking for business education, major criteria for selecting business schools are its job placement rate and average salary level offered. This trend is now changing and criteria for selecting B-schools are no longer jobs, but the kind of specialisation and entrepreneurial environment available.
In MIT's Sloan School of Business management, 25 per cent of MBA students are enrolling for entrepreneurship and innovation. Students are selecting business schools which foster entrepreneurial abilities.
Looking to this trend, universities and B-schools are encouraging and preparing their students to become entrepreneurs. Concepts like crowd funding, angel investors and venture capitalists are buzzwords in business schools nowadays. Business schools have started special entrepreneurship development and incubation centres and created a special fund to encourage their students to start ventures.
B-schools today demystifies entrepreneurship and cultivates an understanding of the issues facing entrepreneurs and growing companies. Business education not only encourages its students to think big and hatch ideas for new companies but also prepares them to manage startups. Colleges and MBA programmes have poured millions into entrepreneurship education in the past decade, to cast themselves on the cutting edge of innovation and technology.
Higher education institutions have developed entire ecosystems of entrepreneurial development. One survey data suggest that MIT alumni have founded 25,800 currently active companies, employ about 3.3 million people and generate annual world sales of $2 trillion, producing the equivalent of the eleventh-largest economy in the world.
Business education will provide the student a sense of how to make a business more commercial and profitable. Classes taught at B-schools by discipline-based academics, successful entrepreneurs, corporate executives and venture capitalists are generating an effective blend of learning both theory and practice. Mixed team projects, case studies, role plays and simulations have great impact on students' understanding of the business and entrepreneurial process.
Not only startups, business education is essential for family-managed business houses too. Business education will bring much needed professionalism into family-managed businesses. Gen-X of family business should join B-schools to take the family business to the next level.
With huge government support and special initiatives like the Khalifa Fund, Tatweer Forum and Tejar Dubai, UAE business education providers are focusing on developing student entrepreneurs.
Today, students should join business education not to get highly paid corporate jobs, but to create the next Microsoft, Yahoo, Google or Facebook.