¶ … complement your STEM background?
One of the most fascinating aspects about pursuing a degree in engineering is that, although engineering is applied science and mathematics, it is, in many ways also a very isolated academic discipline. Engineers tend to be separate from other students, do not have the same core class requirements as other students or freedom to pick elective courses as other students, and must develop their degree plans at an earlier time period than students pursuing other degree programs. This focus gives a rigidity that allows engineers to graduate from universities in a unique position. When one looks at groups of highly respected professionals, engineers who have obtained only their bachelor's degrees are perceived by many people to be among the ranks of professionals with graduate degrees, in part because people understand that an undergraduate education in an engineering discipline differs in tone, rigor, and depth from an undergraduate education in a different field.
While this focus can be a tremendous asset for people who want to focus solely on the science and technology of engineering, for people like me, who wish to combine their passion for innovation with a passion for business, this focus actually feels a little stifling. I am absolutely confident in my skills as a mechanical engineer. I attended a fabulous university where I learned the academic skills I needed to be a solid mechanical engineer and was able to participate in hands-on mechanical engineering...
For example, for my final project, my team created a stair lift walker. I helped design the walker using an Autodesk Inventor, helped build the walker, and used ANSYS to run different types of stress analysis on the walker. This was a culmination of my practical experience from prior projects, and I feel like I could easily handle every aspect of machine design, from innovation through construction, with the experience I have.
However, I know that I am missing the practical business knowledge that I need to take the ideas I have and turn them into a successful business. What is the correct price point for an invention? How do I structure a supply stream? What is a reasonable contract rate for suppliers? How do I handle employee relations? If I start a company, what type of business structure is best suited for a company of a certain size with specific projected sales and projected growth? How do I determined projected sales and projected growth? The reality is that when I stop to think about the what I must do beyond creating the products, I realize that I do not have the knowledge I need to be successful. In fact, with a background so highly focused on STEM subjects, I am not certain I even have the knowledge to help me find the right partners I need to be successful.
Therefore, I realize that I need to pursue an MBA. An MBA will allow me to devote the same time of attention and focus to learning about business as I was able to…
