How can the business-model-canvas help with MBA?

Posted by Santosh Sahni On 04/01/2017 02:16:04

Many of you might or might not be aware of the business-model-canvas. Though it is more of a business model used by entrepreneurs or start ups to provide a coherent view of their business prospect, we can technically use it to evaluate your intention of doing an MBA from a top MBA college or B school. It is a very effective tool which you can be used to its best potential and have your check list ready to be ticked off!

Following are the nine key parameters which can greatly help with MBA:

  • Prospective colleges/B-Schools: Short list a list of colleges based on your preferences and also based on their competency in providing an MBA program. As you research more, chances are high you might stumble upon areas you haven’t thought are important for an MBA from a student’s perspective.
  • Point of contacts for the colleges: Figure out the alumni or staff of the college to get better insights.
  • Value proposition: How does your value proposition coincide with the college or how it can add value to your existing set.
  • Selection: The criteria of selection in each of the shortlisted school such as minimum qualification, competitive examination scores/percentile, etc.,.
  • Meeting the criteria: An action plan to meet the selection criteria of each college.
  • Association with the college: Activities or events in the college which you can participate/contribute to.
  • References: Few colleges require strong references from the corporate or academic sphere. Keep the best ones in the list.
  • Budget: The most crucial of all – evaluate an estimated average cost required per year for the MBA program.
  • Arranging funds: Figure out and set the sources of funds for successfully completing your management program.

The above business-canvas-model for MBA is a tool that shall keep you on track of your application journey apart from systematically approaching a wonderful learning path ahead.  Good luck!