MBA in Family Business

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‘Make in India’; ‘Start-Up India’ could be a great success, if more and more graduates after completing their MBA in Entrepreneurship & family Business resorted to Entrepreneurship projects and indulge to boost the Family Business instead of running after meagre placement packages.  

 

MBA Family Business and Entrepreneurship Program  offers the opportunity to the students to further expand and strengthen their family business and also to venture into entrepreneurship with innovative ideas after getting proper grooming and skills on completion of their MBA Family Business and Entrepreneurship Program.

 

Top B-schools Offer MBA in Entrepreneurship & Family Owned Business
MBA Family Business programme  or  Entrepreneurship & Family Business Programmes are offered by  many colleges.  Some of the top MBA colleges offering Family Business Management Courses In India  are IIM Bangalore, NMIMS Mumbai, S P Jain, Nirma University, EDII among others.  

 

In addition to offering courses on entrepreneurship in the long duration programmes, IIM Bangalore offers two specialized programmes for entrepreneurs – Management Programme for Entrepreneurs and Family Businesses (MPEFB) and Management Programme for Women Entrepreneurs (MPWE).

 

In the rapidly altering business environments and economies, the next generation of business owners want to tackle the uncertainty and volatility of business world effectively. To cater to the needs of this group, many top B-schools offer MBA -Family Business and Entrepreneurship Program which is a specifically designed to help meet the needs of next generation of family business owners.

 

Entrepreneurship & Family Business: Great Contributor to GDP
Family-owned businesses play a crucial role in the economy of a country. According to EY India, It is estimated that globally family businesses contribute around 70%–90% of the global GDP. India is no exception to this fact. .Family-run businesses account for more than 85% of businesses in India. Additionally, 67% of total listed companies with market capitalization exceeding more than US$50 million each accounts for family businesses in India. Apart from conglomerates like Reliance and Godrej, a lot of retail trade, small scale industry, and service sector are run by family businesses. 

 

Top MBA Colleges in India offering MBA in Family Business and Entrepreneurship
Following are the best MBA in Family Business and Entrepreneurship Programs offered by well-known MBA Colleges in India:

Name of the Institute
Course
Duration
Fee (Under revision)
Indian School of Business
Post Graduate Programme in Management for Family Business (PGP MFAB)
15 Months
Rs. 37,35,000
IIM Bangalore
Management Programme for Entrepreneurs and Family Businesses (MPEFB)
10 Months
Rs. 5,53,000
SPJIMR, Mumbai
Post Graduate Programme in Family Managed Business (PGP-FMB)
24 Months
Rs.11,05,000
School of Business Management,
NMIMS Mumbai
MBA- Entrepreneurship & Family Business
24 Months
Rs. 9,06,000 (Under revision)
SIBM Pune
MBA (Innovation & Entrepreneurship)
24 Months
Rs.13,20,000
Prin L.N Welingkar Institute Of Management Development & Research, Mumbai
PGDM – Family Managed Business( PGDM – FMB)
11 Months
Rs. 7,00,000
SP Jain School of Global Management
Global Family Managed Business (Global FMB)
12 Months
Rs. 9,61,000
Entrepreneurship Development Institute of India, Ahmedabad 
 
Post Graduate Diploma in Management - Business Entrepreneurship 
(PGDM-BE)
24 Months
Rs. 5,33,400
 
Institute of Management, NIRMA University, Ahmedabad
MBA (Family Business & Entrepreneurship)
 
24 Months
Rs.3,81,000
Amity Business School Mumbai , Amity University Maharashtra
MBA - Family Business
24 Months
Rs. 7,44,000

Who should pursue MBA in Entrepreneurship & Family Business?
MBA in Family Business and Entrepreneurship is a specific program designed for:

  • Next generation family business owners/successors
  • Startup founders
  • Aspiring Entrepreneurs

Eligibility for MBA in Family Business and Entrepreneurship
The eligibility criteria for admission to MBA in family Business Management and Entrepreneurship vary according to different colleges.

  • The general requirements for this course include graduation.
  • Some colleges may require prior professional experience; some colleges relax the experience criteria for business owners.
  • However, a professional experience of 4-5 years adds a lot of value to the application.

Fee for MBA in Family Business and Entrepreneurship
The fee for MBA in Family Business & Entrepreneurship in general ranges from 5 lakhs to 15 lakhs, ISB being an exception with Rs 37.35 lakhs as its fee.

 

Admission Deadlines for MBA in Family Business and Entrepreneurship
The application dates for MBA -Family Business and Entrepreneurship for ISB and SIBM are as per their admission deadlines for the respective batch. For IIMs, like IIM Bangalore and NMIMS Mumbai the applications are open till the second/third week of May. For other institutes such as SPJIMR Mumbai, SP Jain School of Global Management, Entrepreneurship Development Institute of India, Ahmedabad the admissions are open till the deadlines are announced.

 

MBA in Entrepreneurship & Family Business Courses
MBA in Entrepreneurship & Family Business Courses in India as offered by IIM Bangalore, NMIMS Mumbai, S P Jain, Nirma University, EDII among other top institutes more or less have similar course design. Since MBA courses in Entrepreneurship & Family Business offer key benefits like grooming entrepreneurship and leadership skills, freshers as well as working professionals earn this degree every year with the target to enhance and improve their career opportunities and  position themselves for success in their family business.

 

The Entrepreneurship & Family Business MBA course structure in India as offered by top B-schools is shared below:

 

Key Facts about MBA in Entrepreneurship & Family Business Course

  • The programme offers Core and Elective courses
  • Core courses are compulsory courses offered in the first year and second year
  • In case of the colleges offering one year course, the core and electives are offered in first year itself
  • Elective courses are offered in the second year, where students get the opportunity to choose from a basket of multidisciplinary courses and courses with functional depth in Family Business Management. 
  • Course delivery use a combination of the lectures, classroom discussions, industry interactions, case studies, individual and group projects, term papers, role plays, dissertations, business games, films and various experiential learning methods.
  • The concept of credits is used to define the weightage of a course

MBA in Entrepreneurship & Family Business Courses

  • Business Environment and Strategy
  • Communication
  • Economics
  • Human Resource and Behavioral Sciences 
  • Finance
  • Information System
  • Marketing
  • Operations and Decision Sciences
  • Inter-disciplinary learnings
  • Seminar Courses/Workshops
  • Project – During Term End
  • Case Writing Projects
  • Courses of Independent Studies
  • Term End Integration - Selection of Directors & Board Members
  • Business Environment and Strategy
  • Distribution & Logistics Management
  • Building and Leading Sales Team The CEO Research Methodology for Entrepreneurs
  • Sustainable Innovations, Innovation, Change and Entrepreneur 
  • Valuation & Business Expansion
  • Compensation & Benefits
  • Market Analysis and value Creation
  • Building Social capital Venture growth strategies Government Policies and SME’s
  • Case writing –individual Companies submissions
  • Family relations during transition
  • Integrated Term End Project presentations and submissions