Students who are interested in pursuing careers in small business administration, and are looking for an interactive learning experience, can benefit from advanced academic environments. Schools and companies have designed these opportunities to simulate real-world scenarios, allowing students to apply their skills to industry-related situations.
Currently, Massachusetts-based Babson College and the Business Innovation Factory are working on launching an Entrepreneurial Experience Laboratory. The new facility will train students how to use what they've learned in the classroom when faced with entrepreneurial decisions and industry obstacles caused by weak economy.
Students will get to work with faculty on how to incorporate consumer, environmental, innovative and research-related factors into a successful small business. Also, participants will design entrepreneurial programs, practices and services that may improve current corporations.
The new facility is "a natural extension of Babson College's commitment [to] entrepreneurship education," said Len Schlesinger, president of the college. He added that this opportunity will "yield new insights to guide the next generation of entrepreneurial programs and policies, and give an authentic voice to entrepreneurs who drive new venture creation nationally and globally."
In 2008, depending on the field, position and years of experience, MBA degree holders earned annual salaries ranging from $73,510 to $171,583, according to PayScale.com, a research company.
