Why get an MBA? Generally, the short answer to this question is so that you can make a lot of money, enjoying a degree that is versatile, allowing you to enter numerous fields or industries. But here’s a different answer. Another reason explaining “why get an MBA” today is so that you can coach social entrepreneurs or become one yourself.

What is a Social Entrepreneur?

A social entrepreneur is someone who wants to start a business for the purpose of effecting social change. Social entrepreneurs are business do-gooders; they have a specific purpose, beyond generating revenue, for what they do and that reason is always to make the world a better place.

One example of the types of businesses a social entrepreneur may come up with is a water purification company, like Una Ryan, a medical researcher, started recently. Her company, Waltham Technologies, was developed because cleaner water means less diseases, therefore eliminating the need for vaccines (that take years to get approved).

Social entrepeneurship is growing in interest among business students, especially in light of today’s economy and high unemployment. One survey reports that 28.4% of potential MBA students hope to start their own businesses with their degrees.

Top schools have picked up on this trend and are developing programs to help MBA students learn the proper business model and how to see it through from the idea phase to the actual business plan. Some schools offer classes in social entrepreneurship and scholarships specifically for students particularly dedicated to the field.

Not only can MBA students become social entrepreneurs but they can also act as coaches to budding social entrepreneurs who may not have the business background and knowledge necessary to create a business plan and see it through the early stages of a start-up company. The ongoing guidance is highly valued by both the social entrepreneurs and coaches alike, since lessons in business and beyond are learned by all.

Why Get an MBA in Spite of Gloomy Job Outlooks for MBAs?

There is no shortage of reports in the news these days that present some discouraging information for MBAs. For instance, MBAs are losing jobs since struggling companies cannot afford to pay the high salaries. Also, there is talk of the over-saturation of MBA students currently pursuing degrees, making finding a job even more difficult in an already struggling economy.

Perhaps there is some truth to the gloom, but times of crisis give us a sense of clarity and a shift of priorities in a way that times of peace cannot, and this kind of focus can lead to the type of change that does more than fix the problems in the short-term. Social entrepreneurship is a reflection of that kind of forward and broad thinking.

So when the question “why get an MBA” is raised, social entrepreneurship is one positive and inspiring reason.