How can a Masters’s in Engineering Management help grow your small business and make you a successful entrepreneur?
With the challenges facing humanity globally at the technical level, it has become necessary for companies and organizations to integrate tech skills with business capabilities to address these problematic issues. Engineering management integrates engineering concepts with management studies to develop a holistic approach towards the technical and business side of the process. If you feel comfortable managing different areas of engineering, engineering management would be a great choice. If your interest lies in solving complex problems in technology with a passion for creating solid business and decision-making skills, the MEM program is the best fit for you. It focuses on managing and improving the output of the engineering process using business management tools. An Engineering Management (MEM) program is designed to enhance one’s leadership skills. Most engineering management students will have a scientific/engineering background but will lack management skills and experience. And preparing for the GRE exam could easily lend you your dream college.
This program is especially catered towards engineers who want to merge their engineering skills with management skills in STEM-designated programs such as MEM. In terms of business interests, engineers have the potential to look more valuable than their MBA graduate counterparts for their innovative and creative abilities. Entrepreneurship is inherently ingrained within the engineering trade. It can be justified that many top business enterprises are founded by engineers such as Rolls-Royce, Intel, Oracle, Dyson, and Yahoo!, thus, highlighting the power of the discipline when seamlessly employed alongside core business ideals and principles.
That said, if you’re looking to succeed as an engineer and as an entrepreneur, you need to take the first step by pursuing a MEM program that includes entrepreneurial teachings. Here are some of the top schools you can refer to for this step:
- The Duke University’s Masters in Engineering Management program is a tech-centered engineering degree with both on-campus and remote learning options. The main feature of this program is the entrepreneurship study track which includes courses such as Engineering Entrepreneurship, Commercialising Technological Innovations, Competitive strategies, Design Thinking, and Innovation. Through these courses, a student can develop the core concepts necessary to become a pro entrepreneur. Moreover, it will aid in integrating engineering expertise with business skills which is the primary requisite for the successful functioning of a venture, whether small or large.
- The Faculty of Engineering Sciences at UCL is another excellent option for aspirants inclined towards engineering management and who want to delve into the entrepreneurial scene. This University offers the MSc in Engineering with Innovation and Entrepreneurship program, which is designed with the sole purpose of building a student’s technical, managerial and entrepreneurial skills. Students receive exposure to various engineering products and solutions they can later implement in their entrepreneurial ventures through this program. The main learnings from this program are focused on promoting future entrepreneurs who gain profits and instills a sense of social responsibility within these future entrepreneurs in the making.
As evident from the information provided in this article, a master’s in engineering management is a feasible and promising career path for those who are interested in curating their own business in the technical field. Thus, the perfect amalgamation of engineering expertise, management, and entrepreneurship skills will help students create a success-oriented business structure in their future role as entrepreneurs.
Abhyank Srinet is a passionate digital entrepreneur who holds a Masters in Management degree from ESCP Europe. He started his first company while still studying at ESCP and scaled it up by 400% in just two years.
Being a B-School Alumni, he recognized the need for a one-stop solution for B-School to get in touch with schools and resolve their application queries. This prompted him to create MiM-Essay, a one-of-a-kind portal with cutting-edge profile evaluation and school selection algorithms, along with several avenues to stay informed about the latest B-School Updates.