Most MBA students want to become entrepreneurs, and some of them eventually do it. Yet, in order to run successful businesses, excellent skills are mandatory. Students must be able to understand the overall economic picture and interpret vital statistical data, as well as the behavior of other key members with a significant impact on the wellbeing of their companies. What’s more, good entrepreneurs know when they should expand or consolidate their organizations, and they have the capacity to make decisions that can help them accomplish their business goals.
The things mentioned above usually become possible as an entrepreneur gains experience, improves his knowledge, and overcomes thorny situations. Are you an MBA student in pursuit of a career as an entrepreneur? Here’s what books you should read:
1. Irving Janis – Groupthink
This thrifty book presents the problems of a team that struggles to preserve harmony among members; yet, it can’t because those attempts to maintain a balance affects its capacity to make good, reasonable decisions. Irv Janis describes various policy decisions (starting with Pearl Harbor and finishing with the Watergate break-in) to help entrepreneurs realize that group cohesiveness can strengthen faulty theories and keep the team away from challenging information, aspects that end up taking priority over rational evaluations of alternatives. Read this captivating book and you will see exactly what “groupthink” means, the problems it triggers, and how you can avoid them.
2. Jonah Lehrer – How We Decide
In his book, Johan Lehrer talks about the decision-making process. This author is a charming storyteller who makes use of popular decision contexts to explain how people manage the complexities of decisions that they deal with both in their daily life and in business. Even though the book belongs to the scientific literature category, it’s highly readable and enjoyable for MBA students looking to thrive in the business worlds.
3. Charles Fishman – The Wal-Mart Effect
How can the famous, giant retailer known as Wal-Mart have no less than 2% of the US GDP? Read this book and you’ll find out. Besides, you will also learn interesting things about Wal-Mart’s merciless culture and how it has turned into one of the most important corporations in the world. Fishman sketches out how the rather disturbing culture enables the company to rule over its competitors. A really fascinating book that you can’t overlook if you’re fond of entrepreneurship!
4. Malcom Gladwell – Outliers
Did you know that Bill Gates and Mozart have something in common? Success! This captivating book written by Gladwell presents the stories of some of the most successful individuals in the world. Some of them capitalized on the opportunities they were offered, whereas others just got lucky. But the majority of these people worked really hard to achieve their goals. If you want to understand why certain individuals succeed and others never manage to do it, grab this fascinating book and you’ll surely find all the answers you’re looking for.
5. Geoff Colvin – “Talent is Overrated”
This charming book will help you realize why some individuals are great and others just can’t make progress. Mr. Colvin calls attention to several vital aspects that people don’t seem to understand: being familiar with the basics of your profession is essential; the great innovations that made your life easier didn’t appear out of the blue; they were the result of hard work. Therefore, you should start practicing as soon as possible if you want to gain experience and knowledge to fulfill your dreams. Unfortunately, numerous entrepreneurs don’t use the information that is presented in books, so “Talent is Overrated” teaches them how to develop creativity, stimulate employees, and build productive relationships.
What does it take to be a good entrepreneur? Do you have the drive, the dream, the audacity to think outside the box? Most MBA students assume that business is simple if you have the money to get started. Yet, that’s not always the case. You may have the cash, but if you don’t have the strategies everything will go down the drain faster than you ever anticipated. Reading books about entrepreneurship is of the utmost importance. In order to succeed in business, you must learn the ins and outs of your domain. Afterwards, you’re free to build an empire.
The article is authored by an experienced freelance writer and blogger Davis Miller. He is writing for the site http://www.lovereading.co.uk/ where you can buy books and eBooks and read free opening extracts.
Image credit: CC by YLev