MBAs should focus on creating value.
MBA programs, even online MBA programs, focus more on capturing value (business models) than creating value. Whereas leadership is the process of taking smart risk and creating value, management is the process of sucking risks out of a business and capturing value. Keep in mind that entrepreneurs don’t love risk—they actually hate risk. True entrepreneurs are just willing to take the risk necessary to achieve a larger purpose. The Masters in Business Administration (MBA) should be changed to an Masters in Business Leadership (MBL) or Masters in Value Creation (MVC). This would change the focus of the curriculum, students, and programming. Though most people go to business school to change careers, it has the power to change the world.
I've been spending my evenings essentially looking for a way to create value. I've been thinking of all the ways I can create and sell. In the process my wife has had a life long dream to write. She is currently working on her second book release. Her first book can be purchased here. (Shameless plug!) In the process of going to events she needed a new of way selling her product and since dealing entirely in cash can be cumbersome she got a Square account and she was able to sell at her events with just her Iphone and a good phone charger. As I am reading the article by Mr. Gordon I ran across this.
MBAs can create value by saving others time.All of a sudden a light went off in my head. I do have something to offer the world outside the traditional sense of work! I can write resume's heck I have literally applied to thousands of jobs. I have built dozens of websites. Not only can I do these thing I can do them competently and in a short amount of time. I can't remember where I read that to be an entrepreneur it doesn't mean you have necessarily have the best product it just means you have a good product to sell. Wouldn't you know it a few days later I built my own website for resume's and not only have I built a resume I found a way to capture dollars by performing services. In addition I can help people who are on the path to entrepreneurship by offering advice while doing business plans. I hope to be on the list of capturing 25 cents per minute and then pushing the limits as far as I can. My website can be found here http://samcwrites.wix.com/samcalvinconsulting
You can’t really save time as in store it, but if you can help people “save” time by getting them to where they want to go faster, safer, and easier, you can create extreme value for others and capture some of that value in the form of money. The reason a personal trainer is able to make a living doing what they love is because they can help someone move from 300 lbs. (point A) to 250 lbs. (Point B) faster than the person could have done it on their own. The reason the iPhone is doing so well is because it helps people navigate their music, the internet, contacts, and other data faster and easier than the individual could do it on their own. It’s pretty simple. I call this your professional velocity. Your professional velocity is your ability to close the distance between point A and B for other people and organizations. The higher your professional velocity, the more value you will create and capture.